Tuesday, May 31, 2016
Losing your middle class is the first step on the path to imperial collapse
Star Tribune - losing your middle class is the first step on the path to imperial collapse.
As an aside: why are interest rates so low? It's because all net wealth creation of the past few decades has enriched the kleptocratic elite. Who then want to earn money on their savings but can't, because there is no demand from the masses.
And as a second aside: know why growth is so low? Because the US federal, state and local governments used to contribute 3% to GDP growth in the 50s, then 2% in the 80s, and now they're contributing only 1%.
And why's that? Because the kleptocratic elite want to eliminate government, because less government means less taxes on the rich.