Kissing the ring of the ruling elite

The latest report showed that the 1% now captures an average of 26.3 times as much income as the bottom 99 percent in 2015. It's the highest level since 1928.
In nine states in the U.S., the top 1% represents more than half of all income growth.

With that in mind, it shouldn't surprise anyone familiar with the MSM that some journalists have eagerly strapped on kneepads in order to service the wealthy ruling class. This article is a first class example.

Lloyd Blankfein, who is stepping down as chief executive of Goldman Sachs, personified the era of economic inequality. At a time when average Americans are struggling to make wage gains, Blankfein was paid tens of millions every year, and his firm catered to the wealthiest of Americans.

This country could use more people like Blankfein.
But what if inequality is the wrong metric. Herewith a modest proposition: economic inequality is not the best yardstick. What we should be paying attention to is social mobility.

The concepts are similar enough to often be confused. For instance, if you lived in a country where all the wage gains were captured by a very few (inequality), it would be hard for anyone else to make progress (lack of mobility). And that’s not so far off from describing the United States today.

No, that IS the United States today, and Blankfein is one of major reasons for that reality.
That ship has sailed.

Blankfein should be a role model. His father was a postal worker in New York City. That he made it to Harvard and to the top of Wall Street should be an inspiration.

F*ck inspirations and role models.
I don't need a thieving banker role model to want to succeed. Only an ass-kisser thinks otherwise.

More poverty is bad; that’s true, and it is always true.

But inequality...

Stop right there. If you have to use "but" after "more poverty is bad" then you've left morality behind.
Here's a question for this pathetic creep:
Let's say social mobility is perfect, or near perfect in this capitalist utopia. Anyone can rise to be anything.
Yet the 1% owns 90% of the wealth. Children starve is the streets. Living in dignity is an unattainable dream for the working class. Crime is rampant, and the government is forced to declare martial law in order to protect the property of the ruling elite.

Is the only possible solution for this dystopia/utopia "more opportunity"? More capitalism for the poor?

When does fairness, justice, and redistribution become recognized as necessary for society? And that the wealthy will never willingly share their wealth for the good of mankind?

What is happening instead is this.

SQUEEZING the top 1% ought to be the most natural thing in the world for politicians seeking to please the masses. Yet, with few exceptions, today’s populist insurgents are more concerned with immigration and sovereignty than with the top rate of income tax. This disconnect may be more than an oddity. It may be a sign of the corrupting influence of inequality on democracy.
....But studies of the relation between democracy and levels of inequality point in conflicting directions. Mr Acemoglu and Mr Robinson tackle the question in another paper, co-written with Suresh Naidu and Pascual Restrepo. They conclude that democracies raise more taxes than non-democracies do. But this does not translate reliably into lower levels of income inequality.

One possible reason for this disconnect is that people do not care much about inequality, or want their politicians to do anything about it. The results of surveys suggest otherwise, however. When asked by pollsters, more than two-thirds of Americans and Europeans express concern about current levels of inequality.

18 users have voted.


I've been saying this for years

Democrats are grappling with what their message should be in the final months before the 2018 midterm elections this fall — Russian meddling? Health care? “Abolish ICE”?

But a new poll suggests there’s another message that works even better: The Trump administration and the Republican Party are hopelessly corrupt and incapable of governing because of it. As Senate Minority Leader Chuck Schumer said in May, “The swamp has never been more foul, or more fetid, than under this president.”

And while other messaging that’s focused on Trump’s Russia connections and the president’s overall “abnormality” have been ineffective, the progressive Center for American Progress Action Fund found that the issue of corruption does well with Democratic and independent voters.

Conducted the first week of July, the poll found 54 percent of voters across 48 GOP-controlled congressional districts said Republicans are “more corrupt” than Democrats, with 46 percent arguing that Democrats were more corrupt.

Independents are even tougher on the GOP: 60 percent of independents polled said that Republicans are responsible for the majority of corruption taking place in Washington. Moreover, 56 percent of Republicans said Congress is not checking the Trump administration enough, and 57 percent of independents agree.

Interestingly, the corruption message seems particularly effective with white voters without college educations, while a focus on jobs and health care works well with nonwhite voters and supporters of Hillary Clinton...

In response, Democrats are making anti-corruption part of their midterm messaging, adding an anti-corruption plank to the party’s “A Better Deal” proposal announced in February and arguing for improved ethics legislation on the basis of continued corrupt behavior in government — mainly by members of the Trump administration:

7 users have voted.
The Aspie Corner's picture

And that's even with the services offered by Voc Rehab, which Flawer'Duh has gutted AND privatized/contracted out. Even with college degrees, stable, self-sustaining, gainful employment is a pipe dream. But hey, at least the pigs have plenty of tokens they can get to look busy for their PR campaigns, right?

5 users have voted.

Modern education is little more than toeing the line for the capitalist pigs.

detroitmechworks's picture

Used to be the Ruling Elites wouldn't even acknowledge the fact that they were high caste. Adoption into a higher caste is what we should be searching for!

I mean, Corporate slime have no problem with it, since they like the hierarchies. Makes them feel like things make sense.

7 users have voted.

I do not pretend I know what I do not know.

Lily O Lady's picture

non-fiction, but I beg to differ. He sounds like he’s living in a parallel universe of unlimited opportunities.

6 users have voted.

"The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" ~Orwell, "1984"