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The Wealth Gap: An Existential Threat

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Posted By: DW626, 5/15/2024 7:35:03 AM

Since 1970 the value of the dollar has steadily declined. The lower 80% of Americans have lost income and purchasing power, largely due to the exodus of manufacturing by global corporations. As a result, the wealth gap between the global rich and the rest has widened. From 2007-2016 the net worth of the richest Americans increased by 20% while the lower 80% decreased by the same percentage, widening the wealth gap considerably. The Federal Reserve sparked this change using quantitative easing to boost the sagging stock market. The rich could invest in this wealth explosion but the rest could not as much.

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Reply 1 - Posted by: franq 5/15/2024 8:55:31 AM (No. 1718206)
History repeats itself. Once the currency is debased, bad things happen.
9 people like this.

Reply 2 - Posted by: plomke 5/15/2024 9:40:01 AM (No. 1718242)
Its called systemic looting of the treasury. Since LBJ and FDR our country has come to serve not God but gluttony,envy and greed. We cater to the something for nothing crowd. The pigs we elect to office have stolen not only the cash but the future as well. And its not going change for the better anytime soon.
5 people like this.

Reply 3 - Posted by: stablemoney 5/15/2024 11:03:46 AM (No. 1718335)
Forget about the divisive Marxist wealth gap. It's all nonsense to detract from the real issue of bad government policies.
5 people like this.

Reply 4 - Posted by: DVC 5/15/2024 1:04:01 PM (No. 1718434)
FTA: "The rich could invest in this wealth explosion but the rest could not as much." This is BS. The great majority of folks in corporate jobs have access to 401Ks which puts them into the stock market, and in the first year of the Trump admin, if your 401K was run by boneheads who couldn't do anything but match the Dow or S&P, you could still have a 60% increase in your retirement account in ONE YEAR. At this point, I stopped reading the article. More ordinary Americans own more stocks today than any time earlier because of the whole 401K retirement account deal. Are all in on this? No some resist any efforts to provide for their retirement, somehow refusing to imagine that they will ever be old and want to retire, or just unable to plan beyond next weekend.
2 people like this.

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Posted by DW626 5/15/2024 7:35:03 AM Post Reply
Since 1970 the value of the dollar has steadily declined. The lower 80% of Americans have lost income and purchasing power, largely due to the exodus of manufacturing by global corporations. As a result, the wealth gap between the global rich and the rest has widened. From 2007-2016 the net worth of the richest Americans increased by 20% while the lower 80% decreased by the same percentage, widening the wealth gap considerably. The Federal Reserve sparked this change using quantitative easing to boost the sagging stock market. The rich could invest in this wealth explosion but the rest could not as much.
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