Many Americans are not buying the recent stock market rally. This is being reflected in multiple polls showing negative attitudes towards the economy and Wall Street. Wall Street is so disconnected from the average American that they fail to see the 27 million unemployed and underemployed Americans that now have a harder time believing the gospel of financial engineering prosperity. Americans have a reason to be dubious regarding the recovery because jobs are the main push for most Americans. A recent study shows that over 70 percent of Americans derive their monthly income from an actual W-2 job. In other words, working is the prime mover and source of their income. Yet the financial elite have very little understanding of this concept. Why? 42 percent of financial wealth is controlled by the top 1 percent. We would need to go back to the Great Depression to see such lopsided data.
Many Americans are still struggling at the depths of this recession. We have 37 million Americans on food stamps and many wait until midnight of the last day of the month so checks can clear to buy food at Wal-Mart. Do you think these people are starring at the stock market? The overall data is much worse:
LINK HERE
As amazing as this analysis might seem to many, I think you are 100% right.
ReplyDeleteThat graph looks like a Fibonacci spiral, with wealth inverse to population.
ReplyDeleteWhat it really means is that mathematically, 1 man (surname Mayer nee Rothchild) owns half the world, and 3.5 billion people have NOTHING. The rest of us are somewhere in the middle.
The the picture with household budget is almost exactly what we had with a few exceptions (even our mortgage payment was off only a few cents)-we did not spend anything on pets (did not have any), and entertainment was a way less, which allowed us do be in black - until we both lost our jobs. And then, things went quickly downhill. This is a sad story for most American (and soon Canadian) households. But we are paying for our ignorance. Jefferson warned us when he said: "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." We did not pay attention-now we pay the price.
ReplyDeleteAre you kidding me?
ReplyDeleteOnly a moron can have such a budget.
Walk away of this house, stop entertaining yourselves so much (50% of the monthly deficit!),stop giving these expensive gifts, and instead of prorating money for a vacation look up for a second job...
Good times are over...