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29 Amazing Stats Which Prove That The Rich Are Getting Richer And The Poor Are Getting Poorer

In the United States today, there is one group of people that is actually living the American Dream.  The ultra-wealthy have seen their incomes absolutely explode over the past three decades.  Meanwhile, the U.S. middle class has been steadily declining and the ranks of the poor have been swelling.  But this is what always happens when an economy becomes highly centralized.  Today, gigantic corporations and “too big to fail” banks totally dominate our economic system.  The whole game is rigged.  Our system is now designed to funnel wealth away from the bottom 90 percent of the population and into the pockets of the ultra-wealthy.  When you allow a handful of giant entities to run everything, it is going to inevitably create a situation where there are a small number of very big winners and a massive amount of losers.  In America today, the rich are getting richer and the poor are getting poorer.  Yes, there will always be poor people.  Yes, those that work really hard and produce something of great value for society should be greatly rewarded.  The way that our system should work is that it should empower individuals and small businesses to come up with new ideas, start companies, create jobs and produce massive amounts of new wealth.  But instead, the number of small businesses in America is rapidly declining.  The giant banks and the giant corporations that run everything are constantly running around stomping all of the “little guys” out of existence.  This has created an environment where the rich are constantly getting richer and the poor are constantly getting poorer.

Just take a look at banking.  The “too big to fail” banks just keep getting bigger and bigger. Back in 2002, the top 10 U.S. banks controlled 55 percent of all U.S. banking assets.  Today, the top 10 U.S. banks control 77 percent of all U.S. banking assets.

If you can believe it, the “big six” U.S. banks (Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo) now control assets equivalent to approximately 60 percent of America’s gross national product.

But this isn’t just the case in the financial world.  The truth is that wherever you look big corporations are getting bigger.  This has caused our economy to become very highly centralized, and these monolithic entities are basically gigantic magnets that suck up as much wealth and power as they can.

Meanwhile, life is getting really tough for the “average joe” on the street.

The following are 29 amazing stats that prove that the rich are getting richer and the poor are getting poorer in America….

#1 In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

#2 According to the Economic Policy Institute, between 1979 and 2007 income growth for the top 1 percent of all U.S. income earners was an astounding 390 percent.  For the bottom 90 percent, income growth was only 5 percent over that same time period.

#3 According to a joint House and Senate report entitled “Income Inequality and the Great Recession“, the top 1 percent of all income earners in the United States brought in a total of 10.0 percent of all income in 1980, but by the time 2008 had rolled around that figure had skyrocketed to 21.0 percent.

#4 According to the Congressional Budget Office, the top 1 percent is the only group that saw its share of our national income increase between 1979 and 2007.

#5 The wealthiest 1 percent of all Americans now own more than a third of all the wealth in the United States.

#6 More than 50 percent of all stocks and bonds are owned by just 1 percent of the population.

#7 The poorest 50 percent of all Americans collectively own just 2.5% of all the wealth in the United States.

#8 The top 0.01% of all Americans make an average of $27,342,212.  The bottom 90% make an average of $31,244.

#9 Back in the year 2000, 11.3% of all Americans were living in poverty.  Today, 15.1% of all Americans are living in poverty.

#10 According to the U.S. Census Bureau, 6.7% of all Americans are living in “extreme poverty”, and that is the highest level that has ever been recorded before.

#11 Back in 2001, the ratio of wages to GDP was sitting at approximately 49 percent.  Today, it has fallen all the way down to about 44 percent.

#12 According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for inflation.

#13 According to Heidi Shierholz, an economist with the Economic Policy Institute, about 53 percent of all income went to the middle class back in the 1970s, but today only about 46 percent of all income does.

#14 In 1970, 65 percent of all Americans lived in “middle class neighborhoods”.  By 2007, only 44 percent of all Americans lived in “middle class neighborhoods”.

#15 According to a recent report produced by Pew Charitable Trusts, approximately one out of every three Americans that grew up in a middle class household has slipped down the income ladder.

#16 According to Harvard Magazine, 66% of all income growth between 2001 and 2007 went to the top 1 percent of all Americans.

#17 Half of all American workers now earn $505 or less per week.

#18 According to a recent report from the AFL-CIO, the average CEO made 343 times more money than the average American did last year.

#19 Last year, 2.6 million more Americans dropped into poverty.  That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.

#20 Between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.

#21 Today, one out of every six elderly Americans lives below the federal poverty line.

#22 The poverty rate for children living in the United States rose to 22% in 2010.

#23 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.

#24 The number of Americans on food stamps has increased 74% since 2007.

#25 We are told that the economy is recovering, but the number of Americans on food stamps has grown by another 8 percent over the past year.

#26 In 2010, 42 percent of all single mothers in the United States were on food stamps.

#27 The rich are getting richer and the poor are getting poorer on a global scale as well.  According to Credit Suisse, those with a household net worth of a million dollars or more control 38.5% of all the wealth in the world.  Last year, that figure was at 35.6%.  As you can see, it is rapidly moving in the wrong direction.

#28 According to the same Credit Suisse study just mentioned, the bottom two-thirds of the global population controls just 3.3% of all the wealth.

#29 If you can believe it, more than 3 billion people currently live on less than 2 dollar a day.

Unless something changes, the income inequality that we are seeing all over the world is just going to get worse and worse and worse.

In a previous article, I discussed a recent University of Zurich study that found that a “super-entity” made up of 147 gigantic corporations basically dominates the entire global economy….

“Corporations not only completely dominate the U.S. economy, they also completely dominate the global economy as well.  A newly released University of Zurich study examined more than 43,000 major multinational corporations.  The study discovered a vast web of interlocking ownerships that is controlled by a “core” of 1,318 giant corporations.

But that “core” itself is controlled by a “super-entity” of 147 monolithic corporations that are very, very tightly knit.  As a recent article in NewScientist noted, these 147 corporations control approximately 40 percent of all the wealth in the entire network”

These ultra-powerful corporations make a very limited number of people very, very wealthy.

But those of us that are not connected to “the system” are finding it increasingly difficult to survive.

Once upon a time, the United States had a thriving middle class unlike anything the world had ever seen.

But now millions of families are scratching and clawing in a desperate attempt to stay afloat.

Just check out what happened in south Florida on Wednesday.  Thousands were lined up for a chance at free food.  In fact, people were lining up as early as last Friday to get a voucher for five bags of groceries….

By mid-morning, thousands waited in a line which wrapped around the block outside the voucher distribution location. Concerned about safety, the City of Miami Police Department was in attendance to keep order and look after the sick and elderly.

Those who received a voucher Wednesday will return on December 14th and exchange it for bags of food.

Each voucher can be redeemed for five bags of groceries worth $120.

Can you believe that?

Can you believe that there are American families that would stay in line for five days just to get some bags of free groceries?

Sadly, we are starting to see scenes like this all over the nation.

For example, approximately 10,000 people lined up for free turkey dinners in the Los Angeles area last week.

As the U.S. economy continues to decline, people are going to start becoming even more desperate.  In some cities we will eventually see rioting and chaos.

Meanwhile, the gigantic corporations that dominate our economy will just keep getting even bigger and even more powerful.  They will pay their executives even larger bonuses and they will ship our jobs out of the country at an even faster rate.

This is not how our system is supposed to work.  This is not what our Founding Fathers intended.

But until dramatic changes happen, the rich will just keep getting richer and the poor will just keep getting poorer.

  • DaytoDay

    Good article Michael.

    Have you seen the new poverty figures? 1 in 3 Americans are now in poverty or just above it. Which is projected at 100 million people.

    http://www.newsmax.com/StreetTalk/Census-Americans-Near-Poverty/2011/11/21/id/418731

    Also, I continue to see people posting comments saying, “Well, how poor can they be? they have Tvs, computers, rims, a place to sleep, etc..” and this amazes me greatly. I mean, I don’t know how a one time purchase of a 100-250 dollar item makes somebody wealthy?

    I see the inner city, suburbs, and country life. And what I can tell you, is that, over the past 3yrs alone, I have personally witnessed and experienced some of the worst that this economy has to offer. From people losing their family business, to people losing their family home. I have seen empty office buildings, warehouses, houses, you name it… sitting uninhabited for over 3yrs, because who has the money or financial means to start up a new business in this economy?

    So, to all of the people who see somebody with a new pair of shoes and say, “Well, how poor can they be?” You obviously don’t see the bigger picture, nor have you any experience with poverty or what it’s like to nick and dime, paycheck to paycheck, without haveing anything left over to save, because you struggle to pay the bare necessities. And when you do decide to spend some money on something you want, it’s a crunch, because you just pray your car doesn’t break down to need fixing.

    So, who would want a life like that?

    And so now you may see the problem(s) we face.

    Good Luck and Keep Up the Good Work!

    • El Pollo de Oro

      DaytoDay: You make some very good points. I often hear ridiculous, idiotic statements such as “Most of the poor in America have refrigerators and running water; therefore, they aren’t really poor.” And my response is: “Big deal. Most of the poor in Guatemala and El Salvador have refrigerators and running water. That doesn’t mean that Guatemala and El Salvador aren’t poor Third World countries.” The fact that Guatemala has a higher standard of living and more infrastructure than Haiti or Sub-Saharan doesn’t mean that the average minimum-wage worker in Guatemala isn’t struggling.

      So you’re absolutely right: people who make light of the hardships of the poor are clueless.

    • mondobeyondo

      There are more people in India that have access to cell phones, than access to toilets.

      So, say hi to all those “wealthy” folks in New Delhi chatting away on their iPhones as they bicycle to the outhouse…

  • Cinderella Man JD

    Ha like the bankers that won the lottery. Couldnt have happened to better people. PUKE! Poverty begins in the mind people. I was reading in TIME about familes that were moved out of poor neighborhood into more affulent ones and they still struggled. I hate to say it but some people will never become wealthy either because they arent intellegent enough or scandalous enough to take what they want. You have to think outside the box in order to do better for yourself. Some people are just content to work a job, collect a paycheck and pay rent. But if you want more than that you have to start setting goals for yourself and work to achive them. What I mean by poverty starts in the mind is that poor thinking sets roadblocks for yourself and you give up before even trying. If you say I want to own a business dont think “oh well some rich guy already does it so I shouldnt try to compete with him.” Or “the rich own the system and its stacked against me.” You gotta say screw it. Im gonna give it my best shot and if I fail it was still better than doing nothing at all. And Gary2 TAX THE POOR MORE!!! Im sick and tired of poor families with kids getting earned income credit and I get squat cuz I dont have kids. Why should 49% of americans (including coroporations) not have to pay taxes?! ITS BS!!! Everyone I mean EVERYONE need to pay their FAIR SHARE!!! Including poor people with kids who only pay $2550 a year in federal tax but get $5000 back because of earned income credit. Stop the madness. Oh and dont forget to shop the economy needs you! :)

    • mark

      Yes, every one should pay some taxes. Get rid of the earned income tax credit. That money is supposed to go to Social security. They get that money back and still recieve credit for Social security. Get rid of the income tax and have a national sales tax.

    • Ben Dover

      You just sent Gary2 into cardiac arrest.

      My sister is on SSI but recieves a huge tax refund each year due to “earned income credit” (a refund of taxes you never paid?). ALL of my income is earned!

    • gary2

      The poor pay a ton of taxes. The tired old line that they do not is just that tired. No one falls for it if they ever did.

      From personnal experience it is expensive to be poor. Late fees reconnect fees jhigher intrest loans etc.

  • expatriot

    The neo-cons love one of their tired, stale and washed up lines which proves they are the party of the elite. The line has been said, it’s “the poor in this country would be considered rich in others.” Not true you neo-cons. America is almost as much a third world country as the ones they talk about. In all third world countries there are the super rich and the super poor. There for all the poor people I know who are my friends, would be considered poor there too. I have a friend who works at a gas station and has no fucking heat in her beat ass house. I have another friend who has to pressure walk sidewalks in exchange for a sandwich. Do they both have cell phones? Yes they do, they pay for their minutes at a gas station. Neither one has a car and it costs my friend four dollars to take the bus to work. The right has no idea when it comes to poor people but they love to make blanket statements and act like they do. This shits gonna come to a boil and there’s millions more of us than them.

  • _Underscore

    From the day they’re born our kids are told they are lazy and stupid compared to previous generations. They are told they have to roll their sleeves up and work harder, then find out they have to pay more than ever for any education, will have to work longer hours for less pay and a pension that is getting smaller and further away!

    Then they realise that the so called American Dream was always a lie. “Work really hard and it could be you!” starts to grate a bit when you realise it will never be you; the chances are locked into a small subset of society who aren’t willing to share their wealth. Jobs go to family members and those educated at expensive institutions.

    Even people not in the circle are complicit in protecting its exclusivity, any mention of the inherent unfairness and they snarl “Life’s unfair” at you. And any mention of sharing the opportunities faces an accusation socialism, which is spat out as a pejorative.

    • Guido

      Uh, that’s because Socialist IS a pejorative. It’s a failed idea that has been proven to fail again and again. It’s why Europe is failing now. It’s why England is failing now. It’s part of why America is failing now. It’s part of why the American family is failing now. No one ever accomplished something by begging the government to take care of them.

      • Gary2

        Sweden, Norway???you are wrong in what you describe as failed socialism.

        Turn off rush.

      • _Underscore

        Sadly you missed my point and then made an embarrassing mistake about the blame being on socialism. It’s ok – I am happy to correct you on both counts.

        Firstly I was commenting on America’s strange (mis)use of the word socialism as a pejorative. Most Americans don’t even know what it means, but they think they know it’s a bad thing. It’s now just used as a way to end debates. Kind of like screaming Communist at someone in the 50s, or declaring that someone is a witch if you go back even further. It displays a lack of intelligence and unwillingness to debate on behalf of the person using the term.

        And, unfortunately for all of us, it’s not ‘socialist’ policies that are the ruin of our nations. For the last 30 years neo-liberal governments have overseen the biggest transfer of wealth from the poor to the rich in modern history. The system is rigged and conservatives have no answer but to keep pushing more extreme versions of their failed policies in desperation. It’s also why the police are having to deal more violently with peaceful protesters all the time.

        Check out this article that shows how the OECD have determined that in Britain the gap between the rich and the poor has widened by an astonishing amount since the 70s.
        http://www.guardian.co.uk/society/2011/dec/05/income-inequality-growing-faster-uk

        I don’t know whether you are in the 1% or not, if you are then I guess you are quite happy but if not then stop making excuses on their behalf.

        Progressive taxes (or “tax the rich” as Gary2 might say) isn’t the best solution but it’s the only way we have to try and spread the wealth a little – at the moment the system is rigged so that very few people can get at it any other way.

        • DB200

          Progressive taxes is a good start, but the really big guys are the still off the hook.

          How can it be that a doctor, paramedic or nurse who save lifes earn less then a 30year old trader at Goldman Sachs?

          The problem is that capital is allowed to flow freely, roaming the world for the profit maximization. This is what makes the very rich so super rich.

          So a good financial/economical system:
          - makes it expensive to transfer capital to/from off-shoring facilities;
          - introduces a tax on every financial transaction, preferably a progressive transaction tax, so the more you trade in an hour, the more you pay.
          - does not tax common labour at a high rate but instead promotes labour above capital
          - makes it worthwile to invest in eduction (tax deduction)
          - makes sure that everybody pays tax.
          - has a simple structure so that tax advisors and lawyers will have to look for other more meaningful work.

          Anyone anymore ideas?

  • Kevin

    Cinderella Man JD

    Actually corporations that supply the Us market paying taxes is foolish because it just gets passed on to you and me and it’s a hidden tax.

    “Poverty begins in the mind people”

    Poverty begins and ends with Free Trade agreements that have eviscerated US industrial capacity.

    ‘”families that were moved out of poor neighborhood into more affulent ones and they still struggled.”

    Really? Maybe if you move to Beverly Hills by osmosis you become wealthy.

    Tens of millions of middle class jobs vanished and we’re not replaced. There is downward mobility. Personally I avoided it for 30 years but it was always nipping at my feet.

    The drop has nothing to do with lazy and everything to do with opportunity. the very same people that worked real hard a decade ago and worked that way for the previous two decades still work hard at 1/3 of the pay.

  • John

    The seven keys to success:
    1.) Develop and maintain a positive attitude.
    2.) Believe in yourself.
    3.) Make wise choices.
    4.) Develop positive habits.
    5.) Set and achieve goals.
    6.) Use creative imagination.
    7.) Be persistent.

  • William

    At age 64, I was around when this nightmare really began (tax cuts and HUGE annual deficits). That was in the early 1980s with Ronnie Raygun’s tax cuts. The idea was that the ole “trickle down” would create jobs and generate more govt revenue. It did not work then, and it is not working now. Raygun’s Director at OMB Stockman has publically denounced the “trickle down” theory. Stockman is correct. It is all a LIE. If the “trickle down” worked, WHY do we still have a 9.2% unemployment rate when the evil Bush’s first tax cut of 2001 has been in place for 10 years??? While I do think the tax system in America needs reform, and I do NOT support things like the earned income tax CREDIT, or sending a check to those who pay no income tax, it is clear that the current system is designed for the very wealthy. The strangest thing of ALL of this is that people pf average/less than average means are stupid enough to support Republicans, who have long pushed this “trickle down” LIE. Go back to the last Carter budget and learn what that deficit was. Then, look at the explosion of huge deficits due to Raygun’s tax cuts. Finally, the evil Smirking Chimp and war criminal did Raygun one or two better by tax cuts with two UNFUNDED wars and unfunded Medicare Part D. It is difficult for me to understand why anyone with an annual income under $75,000 would vote for a Republican. PURE STUPIDITY??

    • http://www.planorperish.com Gutter Economist

      If the “trickle down” worked, the National Debt would not be expanding:

      Percent increase in the National Debt by president (adjusted for inflation)

      Carter 0
      Reagan 110 (2 terms)
      Bush 33
      Clinton 13 (2 terms)
      Bush 46 (2 terms)
      Obama 50 (first year x 4)

      PURE HOAX!!

    • Kevin

      William

      Why should they vote Democrat?

      You must realize that 83% of US Senate Republicans voted for China Free Trade which did more to destroy the US middle class then then any other act while only 80% US Senate Democrats did the same. Big difference.

      Bill Clinton twisted arms to get NAFTA through the House of Reps and signed it into law. Remember the big sucking sound of jobs leaving the US? Clinton signed China Free Trade into law and from that point the US factory gates we’re padlocked and off the jobs went to China. GH or GW Bush would have done the same but only a Democrat has the political horse power to make it happen. Clinton last deregulated the banking industry with the demise of Glass-Stegall. Once again GH or GW Bush would have done it but a friend of the “working man” Democrat was the person capable.

      Explain to me the validity of your passion for Democrats and why are they the savior of the working class? The sad reality is you have no political / economic savior.

  • Veritas 300

    Corporations know too well that people are sheep. Take a look at your Thanksgiving Black Friday. People running around like maniacs buying crap they do not need. If people were to stop buying crap they think they must have and buy what they need, corporations would not be constantly repoorting profits every quarter. Think about it. Even though there is a Global recession (we never got out of the recession since it stated in “08) quite a few corporations seem to report profits every quarter. Seems to me we are getting fleeced.

  • Veritas 300

    Corporations know too well that people are sheep. Take a look at your Thanksgiving Black Friday. People running around like maniacs buying crap they do not need. If people were to stop buying crap they think they must have and buy what they need, corporations would not be constantly reporting profits every quarter. Think about it. Even though there is a Global recession (we never got out of the recession since it stated in “08) quite a few corporations seem to report profits every quarter. Seems to me we are getting fleeced.

  • REED RICHARDS

    Michael,

    FINANCIAL PLANNNING BEGINS AT HOME:

    Good article. However, Cinderella Man JD does have a point here. Poverty does begin in the mind and one of the biggest roadblocks that perpetuates a cycle of poverty is the fact that people who are poor are still making, not goods and services, but more and more babies! Imagine that, you can barely feed one mouth, so let’s come up with the brilliant idea of bringing in more mouths to clothe and feed. Total madness.

    Poor single mothers, this is aimed directly at you. Why are you allowing dirtbags you would not consider husband material to impregnate you and make babies? Totally illogical.

    There is a guy I know that claims that at one point he had to work a part time job on top of the full time job he has now. I asked him, I said, you are retired military, you get a stipend from Uncle Sam as retired military and you are working as a government civilian employee. That’s two paychecks. Can’t you handle things? Why do you need a part-time job on top of that? He says to me he has three kids to take care of. I then turned to him and said, Well, Bro, there are only two words to say to that: TROJAN MAN. He could only smile and shake his head and say that I was right.

    People should save whenever they can, only have kids when the finances are right, and they should always plan ahead as much as possible. I don’t blame people when they lose their jobs (through outsourcing or insourcing) or have medical bills wipe them out. Not at all. Those are actions that are no fault of their own and they can not control. But if you work at Walmart stocking shelves or Burger King burning French Fries, that is not the time in life to crank up the baby making machine and churning out more and more mouths that you can’t feed and clothe or maxing out credit cards………….

  • Janae

    Who is the author of this article and the date that this was written?

    • Michael

      I am the author, and the date is posted at the conclusion of the article. :)

      Michael

  • http://www.maximesipoezii.com Razvan

    Hello, I’m from Romania and I have two jobs, winning a total of $ 400 per month. Is a hard life friends. I do not understand is this: what it means to be poor in America?
    Best of luck Michael!

    • Michael

      Razvan:

      It is great to hear from someone in Romania!

      And you are right – most Americans have no idea how hard life is over there. I get newsletters from “Hand of Help” and they do a great work with the orphans over in Romania.

      Michael

    • Gary2

      dude-have you even been to Dracula’s castle?

    • Hol

      Have you lived in America? I believe the cost of living is different then here in America. I know it’s hard in other countries I don’t pretend it’s not. Especially since I’ve never been to most of those places. Please don’t judge American poverty. There is always someone who is worse off then others. Who are you to say?

  • knightowl77

    Michael, as always very good.

    I think that you ignore an historical reality that we are now returning to…Throughout history there has always been the very rich and the very poor. It is within only the last few hundred years that we had a middle class.In ancient Rome, if you were part of the Senate you did very very well. There were a few merchants, but almost everyone else was in the military or some form of serf.
    In the Middle Ages we had the “nobility” in the castles, and everyone else in a hut working 7 days a week.
    What makes this time different, is education and information…We can see the injustice and the inequality worldwide almost instantly….
    Gary’s plan of taxing the rich or locking up conservatives, kind of a new French Revolution will not make life better for everyone else…it will only make the poor feel better about their situation until they starve to death since they have killed off the producers….Despite what the left believes, the only solution I see is a return to our Founder’s principles.

    God Bless

    • Michael

      I am not saying that the solution is to tax the rich.

      Handouts for the poor only help them to survive and they don’t produce any additional wealth for society. So handouts are only a temporary solution.

      Rather, what we really need is a system that provides good jobs for the poor and that empowers them to start successful small businesses.

      Michael

      • knightowl77

        I know you weren’t…the last paragraph was for Gary and his crowd..

        • Gary2

          I guess we will find out who is correct as we on the left are taking back our country from the scum bag right wing. You may think I am wrong but just wait until 2012.

          Republicans in the senate just voted down extending the payroll tax cut for the poor and middle class in order to not raise taxes on the rich meaning a surtax on incomes over a million dollars a year to pay for the cut for middle/lower class. Are they really that tone deaf???(yes)..

          The best the right can do is Newt/Cain/ Romney?

          Obama will mop the floor with these light weights.

          Walker getting recalled here in WI. 300,000 signatures in 10 days!!!

          We will CRUSH the right.

          2012-2013 the year of the next new deal. 2012 will be the year of taxing the rich hard. Obama will run on this and win because most people want to tax the millionaires and billionaires and make them pay their fair share. I just love that talking point!

        • Gary2

          Tea Party A$$ KICKED! Dem’s control Wake County, NC (Raleigh) school board.

          Get used to seeing these headlines. The right is going down hard! Who’s gonna save you? Newt?? ha ha ha

      • Kevin

        Why would we not focus on bringing big business back? The focus on small business is in essence cottage industry. No nation became or retained greatness with small.

        We have been conditioned to accept our fate. All we have heard in the last several Presidential elections is “Small Business; the growth engine”. Like it’s extended family known as the “Service Economy” and all of it’s relatives including “Small Business” it’s not functional.

        • Gary2

          small business create AND loose most of the jobs so it seems to be a wash regarding the small business talking points.

          I do not think most people realize that the much loved small businesses are also loosing as many jobs as they create.

          Nothing against small business but people need to look at the bigger picture. Some of my best jobs have been at small business.

          • littlemike

            You mean LOSE, not “loose,” genius! They are losing jobs because the economy is in the toilet!! It is an index of how successful this “hopey-changey” thing is. In reality, the current administration is “shovel-ready.”

  • ConcernedCitizen

    Great article and insights. In the last ten years we’ve lost somewhere around 51,000 factories and last year lost factories at a rate of about 23 per day. Our economy has been in decline for the last forty years, but it’s just more apparent now. As we’ve turned further from Jesus Christ, we’ve lost more of our wealth and freedoms. We are now facing the abyss. We have traded our Christian heritage and wealth for massive and tyrannical government, oppression, debt, and poverty. May God have mercy on us all.

  • http://stopneocons.bravejournal.com Winston Smith

    True capitalism is this, banks and tight woven corporations and their politico buddies. Despite the Orwellian change of language making “capitalism=Ike Godsey’s store”, it was always the elite vs common man…sadly, too many went the opposite wrong way to socialism. Rading John Medialle’s first book, Vocation in Buisness, he has some good stats about how tightly in early USA that bank and corporations were regulated. Problem, the Masons play a roll in this and most Founders were formal or informal Masons…….so the statement “This is not what our Founding Fathers intended.”is not fully true, they unleashed a storm and now we reap a world wind….

  • D

    The middle class is being thrown out because the elites know they can grow in power, and this troubles them. They are making us into serfs very quick.

    They know some sheeple are actually catching on. I don’t think the elite knew how powerful the internet was going to be 20 years ago, but don’t worry, they have it all situated by breaking us apart with with puppet R and D battles (the greatest elite illusion ever made). They also like using the bootstrap myth a lot with neo con falsifications to keep most of the sheeple in place.

    All in all, everything is past the point of no return. I just hope we are all able to ruminate our thoughts on the net when WW3 starts and martial law takes order.

    • brothers781

      I agree. Thank God for the internet! I barely watch the news on tv anymore. It’s all online before they report on it anyways. I hope there is some computer genius kid out there who can get us all back online if the need arises.

  • gary2

    Michael-As you and everyone else on your 2 web sites know I have been saying that we need to tax the rich and spread the wealth. I know it seems like forever.

    When are the folks who disagree with me going to wake up and see that is really what we need to do to fix the mess?

    You need to go where the money is and that is the rich. Yes we have croney capitalism and yes it needs reforming but that is a fairly long process. We need to ASAP tax the rich and spread the wealth. 2012 will be the year of taxing the rich. Don’t believe me? We are daily hearing more and more about the wealth and income inequality in the country. This used to never come up anywhere and now it is daily news.

    The OWS is changing the national conservation and I really hope we have a new deal 2.0 in the same vein as the first one FDR did.

    When the economic system of a country is not working for the benefit of most of the people it needs to be changed. This is simply a political matter. The first new deal/war on poverty cut poverty in half-think how many seniors would be poor with out SSI or families with out food stamps. Also the EITC. These are provided by the government to reduce poverty. They work and they (more robust saftey net programs etc) can do a whole lot more. They (congress etc) simply have to have the political will to tax the rich and spread the wealth. It really is that simple.

    • Yrag2

      Tax the rich who hire Offshore workers.

      Reward the rich who hire American workers and pay American workers decent wages.

  • mondobeyondo

    I’m tired of being part of the 99 percent. I want to join the 1 percent! How do I do this? Or is it already too late?

    It used to be hard work and devotion, but apparently this doesn’t work anymore. So, how do you become rich in 2011? Is it inheritance wealth? Nepotism? The Powerball lottery? Perhaps a Faustian deal with the devil?

    • http://www.planorperish.com Gutter Economist

      In the old days, you had to sell your soul to the Devil.

      Now the Devil will accept MasterCard or Visa.

      • DB200

        You still have to sell your soul. And it goes like this:

        Try to get into one of the top10 MBA’s.
        With dirty tricks and a lot of elbowing, stay ahead of the curve and get good grades.

        Amass during these two years a debt of 200k$

        Then go working on Wall Street as a trader or analist. You need to earn big to pay off this debt.

        Trade or invent incomprehensible financial products that 5 years later will pollute the world as toxic assets.

        Work 15 hours or more every single working day.
        On Saturdays you only work 12 yours.
        Sunday morning you sleep in, Sunday afternoon go to work again. You can prepare for this buy buying 300 boxershorts, so laundry is not a top priority anymore.

        Do this for two years, when you still survive in the Wall Street Jungle, you take the next step. More money, more dirty tricks and same amount of work and now you have really sold your soul to Mammon. After another couple of years you will have amassed millions. And so on, and so on.

        To get an idea, go see “The Firm” or “Wall Street”.

  • Cinderella Man JD

    If you want to become rich or at least better off than you are now eliminate the word I CANT from your vocabulary. And Kevin, thats a victims attitude you have there thats why you will never go anywhere in life. Ive went from living in my car in March to well on my way to owning livestock that will be much more valuable than gold next year and pulling myself out of the crap that my life was. I didnt do it alone I am a believer in the healing power of God and a I stopped saying I CANT and started saying I WILL and I MUST. Life changes when you stop making excuses and start achiveing no matter what the challange.

    • Gary2

      yu need to read Barbara Ehrenright book on the BS on positive thinking.

  • marvin nubwaxer

    as people become poorer how do they buy the goods and services offered by the rich corporations? same with wages–as they continue to decline how can those wage earners afford the goods and services offered. maybe the corporations cares less about that than they do about getting into the emerging markets

  • Gary2

    The Democratic Congressional Campaign Committee began a campaign on Wednesday, attacking Republicans for “forcing” a Super Congress failure over their insistence on protecting the rich from tax hikes and for wanting to cut Medicare.

    The right wing mother f are going down so hard. I will be pissing on their graves.

  • Colin

    With the emergence of the police state and the increasing de-privatization of our lives, I think that people will experience great difficulties in fomenting and sustaining a revolution in the future. We saw this year how quickly and coordinated the response was to OWS by the Dept. of Homeland Security and its affiliates. It will get harder as technology for identifying and isolating dissidents becomes more sophisticated and pervasive.

  • http://www.bestsurvivalkit.org Libby

    I live and work in Asia- where there is virtually no social welfare programs for the unemployed, elderly etc. With no handouts to apply for , the elderly just carry on working and the young ones have to find something to bring home a measley income or they get nought.Many 1st world countries give out too much and make it too easy to be jobless. I know an english lady out of work for a year who managed to take a holiday to Spain after claiming the unemployment benefit….ridiculous!
    Cheers
    Libby

  • BillyK

    10,000 people line up for free Thanksgiving dinner?
    Sorry give me a break
    I bought a turkey for $13.00 and it fed 5 people
    Sell your Iphone, Xbox and Wide screen and you won’t have to stand in line
    I know people are hurting but I am taking this with a grain of salt..

    • Hol

      Not everyone has those items to sell. Can you say judgmental?!?

  • BillyK

    Followup
    THen I took the carcass and made stock for soup, bought 30 bags of Ramen noodles for <$3.00, some ginger, green onions and made 30 servings of Pho packed in styrofoam cups, capped and froze
    With a 5 lbs bag of rice for $5.00 I can feed my self for 2 month's
    I used the other bones to catch blue crabs in Lake Maurepas

  • Gary2

    Another right wing LIE exposed. Conservatives are scum!

    One Percenter: Tax The Rich Because People Like Me Don’t Create Jobs, The Middle Class Does

    We’ve had it backward for the last 30 years. Rich businesspeople like me don’t create jobs. Middle-class consumers do, and when they thrive, U.S. businesses grow and profit. That’s why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich.

  • Gary2

    Tonight, Senate Republicans chose to raise taxes on nearly 160 million hardworking Americans because they refused to ask a few hundred thousand millionaires and billionaires to pay their fair share,” he said. “That is unacceptable. It makes absolutely no sense to raise taxes on the middle class at a time when so many are still trying to get back on their feet.”

  • Gary2

    Yeah we are talking about you right wing ********************!

    For decades, Frank Luntz has been fooling low-information voters into supporting unpopular policies. He’s scared of OWS because the movement exposes his lies.

  • A Well Regulated Militia

    @gary2,your a union slave right? if not your just a simple minded small person who only thinks of himself typical dem,you really want obama to have a 2nd term? that would only speed up the destruction of our country,but thats what you want right?taxing the rich will not help our problems,we need people to understand that they need to work even if the job pays less then unemployment,stop suckling the teate of our goverment

    • Gary2

      Yes taxing the rich will help our problems.

    • Gary2

      PS_the corporations get the most welfare.

  • Gil

    Poverty is when you can’t access the basic amenities of life through no fault of your own. You’re not poor if you have such amenities but don’t have a HDTV and a blu-ray/hard-drive twin HD-recording set top box or you can’t afford the basic amenities because you’re against working for a living. The fact that obesity-related diseases affect much of the West is proof that humanity is wealthier than ever.

    • _Underscore

      Actually you can define poverty in a number of ways. Absolute poverty is used by the right to say “well you aren’t starving in Africa so you aren’t in poverty” whereas relative poverty usually means you live on less than 60% of the median income in your country/state.

      The argument over ‘poverty’ is a tool of distraction to get people ranting about HDTVs rather than face up to the fact that huge swathes of your population are starved of chances in life while the rich are laughing it up at the rest of us.

      People want to work. Go look at the queues at job centres and see how many applications there are for each post. When there are not enough jobs to go around it’s pretty sick to blame the unemployed for not having one, just because you want to pay a little less tax.

      • Hol

        _underscore thumps up!

  • Durp

    Inflation makes the rich richer and the poor poorer. The rich own the means of production, so they keep getting wealthier and everyone else has to struggle harder each year to keep up with rising prices. Inflation is deliberately engineered by the government and the Fed to keep growing the slave class. Inflation is theft. End the Fed. Return to honest money and the middle class will blossom just like it did when we were on the gold standard. When we were on the gold standard, we could save money in a savings account and it would keep up with inflation. Now because the dollar is constantly debased, we have to risk our savings in the Wall St. casino just to hope to keep some of it.

    Watch this funny cartoon to find out more: http://youtu.be/ZPWH5TlbloU

  • alexa anders

    The wealth of the super-rich has grown during the last year. The case is, as the rich get
    richer
    , the middle class continues to reduce in size, widening yet more the gap between the rich and the poor. To address this, we should heighten our awareness of the consequences of the widening gap between the world’s richest and poorest, and to support efforts to reverse this troubling trend.

  • capthiltz

    One solution to all this may be to shift how we “pay” for goods and services over a period of time. This may happen as a matter of eventuality as the average American gets poorer and is unable to, first, buy luxury items and then the basics. If all the money is floating up eventually it will not only dry up on the bottom but at the top as well. We may see a two tier economic system where the wealthy deal with each other using the old fashion monetary system and the poor using their own system such as bartering or a different form of cash all together. In some ways this could be a blessing in disguise. If the masses no longer recognized what we now use as money as of any value, those at the top in sense lose not only their monetary wealth but their monetary power. If their money became valueless they couldn’t use it to pay off armies or police to enforce control. We may get to the point where the poor and former middle class go to back yard or community gardens and farms for their food and resort to make clothing last longer and use alternate forms of transportation and energy for their homes.

    My point is the only way we can break the corporate/ultra wealthy stronghold is to neuter these people financially. They have so much power because of their vast wealth that they can buy politicians and write legislation that only benefits them and screws the rest of us over. Essentially the day of a corporate plutocratic government is here and what think of as a democratic republic is on it’s way out unless we stand up and do something about it.

  • divorcedandimloverished

    Divorce in this country surely adds to the cause as well. I was once married to a woman of wealthy in laws. Being married to this beast was unreal. Extremely spoiled she is and lacked compassion and empathy in support of a good Dad to our children. As a result of the recession…I had lost a good paying job. The struggle to find another opportunity became overwhelming. Living on unemployment and being married to a tax evading wife put quite a bit of pressure on our Family. Merely surviving was not in the mental vocabulary of my former wife. After landing a customer service job to support my family I developed depression and yearned for some support from the spoiled wife at the time. Being supportive was not an option for she had the backup of her wealthy former corporate office father. Her dad worked hard for where he is today and they were generous in helping us out at times, but when u start accepting monies from this type of man u will be subject to a microscope. It was like living with her parents and having a marriage with her Family instead of working through our own difficulties together as husband and wife. Anyway…the wealth backed wife gave up and now i see my 9, 6 and 5 year old every other weekend at best while i pay 29 percent child support and have a debt load of about 65,000 bucks. I work a less than full time job. Was kicked out of my own home by the court system with no job and nowhere to go. It was very stressful and as a result i had almost ended my own life. Also, my former wife owns some small business and i received no share of the business via divorce court for she and her father wanted to try and ruin me financially…of which they did by only communicating through lawyers. Affluent people like them amaze me to this day. I live in poverty now and also live on food stamps to eat after losing 40 pounds in three months as i starved myself during the divorce process so i was able to see and feed my kids. My girls love their dad and i was a better father in my home as a stay at home dad. Now my kids are being raised by some narcissists. What can i do except deal with the extortionists that rip a good man as much as they can. They are cold and had been for all of the years that i knew them. So…now i live in poverty as many men that i know that have gone through divorce. Victim of the family court system i can state that i am as well as my kids. Kids miss their father being in their lives. There is one thing that i can state…i live not for my kds anymore but only for myself. As for the ex…i have absolutely no respect for this compassionless pos that destroyed my life due to her absolute vindictivenss and extreme controlling behavior. Undoubtedlh this freak wants me to be a good dad to his kids, but when i am in financial turmoil…my kids will be lucky to have their father in their lives for too much longer.