Economist Paul Krugman explains how the United States is becoming an oligarchy - the very system our founders revolted against. Visit the Bill Moyers site to see more features related to this show: billmoyers.com/episode/what-th...
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
I'm bombarded with the don't sit on it during the inflation, I wanted to jump in 8/22 and did nothing. So far this year I think I need to get my feet wet but I stopped listening and taking financial advise from RU-vidrs, because at the end of the day, I end up with a bunch of confusing stories. Have you always had guidance?
I've shuffled through investment consultants and yes, they can be positively impactful to an individual's portfolio, have been in touch with '’Colleen Rose Mccaffery’’ over a decade now her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $90k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up $250k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@lowcostfresh2266 There are many financial coaches who excel in their profession, but for the time being, I employ Laurel Dell Sroufe because I adore her methods. You can make research and find out more.
@@TomD226 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
The perfect dictatorship would have the appearance of a democracy, but would basically be a prison without walls in which the prisoners would not even dream of escaping. It would essentially be a system of slavery where, through consumption and entertainment, the slaves would love their servitude."-Aldous Huxley
And it's not just entertainment. Governments and companies can charge fees to the serfs for the privilege of having their taxes, government-imposed forms, necessary loans, etc processed. You can convince them that they need to pay the costs for you to extract their property from them!
@@OurNewestMember poor wages/slave labour during the day, social media gaming reality tv porn sports alcohol, medication and drugs as a distraction/coping mechanism, soon to be accompanied by AI and VR. With no real say with what happens in government other than voting for a figurehead, and no means to ever attain any form of real wealth/security through a regular 9-5. With meditation, and learning how to destress and new age spirtualism, rather than tackling the issues that cause the stresses in the first place. People already loving their modern day slavery 😂
I am watching this in 2023 and can't believe that this information was available 9 YEARS AGO! This is quite horrifying and makes it seem hopeless. We cannot let this country continue like this!
This has been in the works for decades. It is how America was developed and the laws and institutions were created. The great American myth of the American dream was just to keep the lower classes dreaming that if they worked hard enough they would gain the upper class.
MSM wants to keep this a secret and most politicians. Also, if you want to see the cause of inflation look at the diesel prices, $4. 37 at the pumps. Everything is shipped by diesel trucks. No wonder all prices are still soaring. Oil refineries are limiting diesel production and Big Oil is making a mint while screwing the public at the store and the pump.
@@laragreene8328 you would be surprised. There are so few people who know that we are powerless. And you have those who mock them, thinking we are stupid enough to cower under insults. There are, basically, too many stupid people who lord it over others and call THEM stupid.
*EDIT NECESSARY for ACCURACY* Patriamonal Capitalism is actually not accurate, it is: *"Patriamonal Corporatism"* We are really not a Capitalist Society, it literally has shifted up a *Corporatism Society"8 and this is hugely different and offers very little opportunities to the 99%.* When reapplied with "Corporatism" the content then FITS PERFECTLY .
True! Or Very True! I have to write everything with proof then also people can not believe. drive.google.com/file/d/18u5PaUqsSgSy2FLpIhzLZvuK-sjG7az9/view?usp=drivesdk
I worked at a bank Trust Dept back in the 90's. I was absolutely disgusted when I had to credit the bank President's s two adult sons Trust accounts nearly twice my annual pay for the earnings on their shares of private stock in the bank. Neither man ever worked there. (I was paid about $100 year too much to qualify for food stamps.)
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
@@martingiavarini Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with “Catherine Morrison Evans” for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
@@martingiavarini Thanks for sharing this. I did my own little research, and your advisor looks advanced and experienced. I wrote her and dialed her twice but she didn't pick up so I scheduled a phone call.
I was an interior designer and I was utterly amazed at the amount of money the 1% have. I was disgusted as they contacted me to spend money on an obnoxious level, and then these same people would be laying off their workers. I got out of the business because it angered me to such a degree that I did not enjoy it.
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading
I have seen loads of news of *TERESA JENSEN WHITE* on the internet, she must really be that good for she to be talked about in such a way. Is she on RU-vid? please how do I reach her
I have watched Bill Moyers for 30 years. I don''t understand why some people do not like him. He introduces and discusses current relevant topics. We all walk away more informed.
Well said and 100% true. THESE DIVERSIONS ARE MAINTAINING THE SYSTEM. I GUESS THAT'S WHY TRUMP HAS A 1,001 WAYS TO DIVIDE. Our thoughts, voices, and prayers 🙏 need to be United. If a mathematician where to analyze all the events that have happened in the last few years,... ....they would probably conclude that all this chaos could not exist in such a short time span.
It’s actually 1/10th of 1% and you with the current wealth gap. And yes left vs right is an illusion. Same money from plutocrats and global banking monetary system incl bilderberg group and royals feed all govts incl and esp USA.
I think you’ll like these USA’s Corp illusion of democracy ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-vW-ImCVDsWk.html USA stunted political party system (lack of real choice: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ULYWIDcUOY4.html
I want to start investng. Is it safe to start now, or should wait until the end of this possible correction/bear market, despite the economic crisis facing the world, is this the right time to invest in stock, Gold/crypt0?
Crypto currency and NFts will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% profit from my current investment
@@ryanconnorlucas7579 You are right but the market is profitable if you are using a really good broker or account manager to help out with trades provide signals
education system is invented by industrialists to coach factory workers... worldwide education system is absolutely obsolete imho... Finland is doing some proggesion on that front tho... Only thing i literally needed from school was native language,writing,english and math... some basic physics,chemistry.. otherwise school is a waste of time... people should learn what interest them.. specially children are so enthusiastic to learn ... i'm 30 and i'm self-teaching programming languages atm.. haven't had so much fun learning in my life... (i always hated conventional school as a kid...)
actually slavery is a pain in the ass. better to give them their alms and find their own way, no headaches and a large supply of eager poor slob replacements
@@furkan1503 They hoard precious metals and your figure of 400 trillion is plausible given the real value of actual gold bought in large volumes is 10 times the trading the price of gold certificates. And with the global debt at 274 trillion which is in the black on their balance sheets makes it around 674 trillion when added to the precious metal value. So yeah 500 trillion to 700 trillion is close to the mark no doubt.
Good thing we recently passed the largest tax break ever for the 1% knowing how tough things have been going for them in the last 25 years compared to the working class. Things are going just fine for them for sure.
+Carol McKee . yes what Paul is saying is, the French take better care of their SERFS than US INC does. Problem, yes they may not be homeless and destitute, however they are still SERFS. not free men and woman.. who wants charity from PARISTICALTHEIVES ?
it's like give us exactly that much amount of crumbs from the pie so that we maybe keep up thinking about inequality but not too much to make it viral or for god sake get our fat asses up and get organized...
It is time to wake up as many people as possible. I know things look really bas from the scope of a media funneled screen...... The reality more people are more awake now to listen than ever before. It is the perfect time.
It's called the Federal Reserve Bank. Which is not really federal nor a bank. It's a private organization what stress the value of our money & releases more or draws it in. When we separated from England it was one of the things we were supposed to escape from but a few rich new Americans secretly created the Fed, voted, created a crises and the people were duped into supporting it. Now how do we get rid of it? It's not impossible, just hard
@@loridrblake9770 o my god you put it so well there is nothing to had to it just to take away from it , thanks you , ofter they got reed of the titanic with the three richest men thank you
Mr. Moyers, thank you for this enlightening interview that so eloquently voices what most Americans have been living through for the past 45 years. Would you consider updating this interview to bring it up to 2020? I think it would be riveting to hear Mr. Krugman or Mr. Reisch explain how far into oligarchism our nation has drifted. All the best to you and yours during these difficult times.
Oligarchy, particularly on the neoliberal, Democrat side in 2020/2021. Both Krugman and Reisch, particularly Reisch, far left. Haven't started watching yet, so this will be interesting. Neither conservatives nor liberals can deny the dramatic concentration of wealth over the last few decades. What will be interesting is to hear whether they approach the issue in a bipartisan way or with left partisanship.
Lets see Gates, zuckerberg,Musk,Bezos,Buffet and many other multi millionaires in tech industry are all new wealth ,not inherited ! Inherited wealth tends to be watered down over generations because the one fortune is split between siblings !
I’m watching this in 2020, and this even more so a reality. We’ve reached a point where there are a select few corporations, who have bought out entire industries and brands. It’s more important than ever, that we support our local shops and farms. Otherwise, these smaller operations, who still take pride in keeping our communities healthy, will become obsolete. We will then only have access to food, which is produces and manufactured, by the large corps who have been poisoning us for years. This is also true for our healthcare industry, which has long ago, dismantled the natural medicine industry. It’s gradually making a comeback, but we need to push that it be treated as equal, and used alongside modern medicines. That being said... it’s never too late for change, and wealth can only be sustained, if we continue to buy their products. We all have the power to level the playing field on wealth, and shift some of that money, back down the pyramid.
Yes ,very few have ability to congize these truth ,may be who knows there is somthing keep us bombarded with micro frequency which r always in touch and permanently damage our the part of brain to think thier way!
A million seconds is 11 days. A billion seconds is 31 years. To get into the Forbes 400 you need at least $2B. There are over 600 billionairs in the US. Like Krugman says, most people just cant comprehend this level of wealth.
Boysie Dent - Yes, you're correct. You don't "make" people be "more equal" by giving them more money. That's the facade of the "equality" shell game. It's kept us occupied fighting with one another while the life force has been sucked out of us. I'm not advocating the obscene theft of the workers surplus value, but an immoral society, upper tier and lower tier, is itself on a race to the bottom that money can't fix. Shuffled around in any way you want, the coin under the shell will never really fix anything. A people with clouded minds, driven by their passions, can't be helped. This is apparent from the schemes that are constantly hatched on us. If we just give consent to the latest lineup of the "rights" of some tiny minority fringe group, or sanction some new immorality, then that'll fix everything! Ha, ha, ha! It's a "top-down bottom-up" race into the abyss!
@@gabesmokeymartatom So them can you please tell me what is your point? Should we just give up a kill ourselves? Should we go on living and also kill ourselves from labor?
Bill Moyers is the old school of journalism and thank god for that. He's got presence and dignity and he's smart, he asks the questions that you would want to ask. and he listens and HE DOESN'T INTERRUPT. Not like the current news shows which are like a three ring circus in comparison. He gets out of the way.
He is a Progressive indoctrinating you. They start out talking about it, normalizing it. Then they implement it. This was before Hillary bought the Russian Dossier and drug the Nation and Trump through the gutter. This was before the Summer of Love of 2020, yet they hint at uprisings in this polite conversation. This is before the 2019 talks of what if there was a global pandemic, six months later. This is what Progressives and Marxists do. They talk about things, to normalize the idea and then implement them. It's Marxism. Biden has Destroyed the USA in 2 years using these methods. The USA is being destroyed. Who are we kidding. These are all Obama's ideas.
This video needs more views so people wake up, and can start to at least build they’re own assets and produce the income that only the 1% have enjoyed exclusively. It’s sad. We not even on the playing field
When the BANK and the GREEDY FEW, writes the laws and regultions for government to put into usage. That is an oligarchy! We are not close to an oligarchy, we are an oligarchy.
Stephen Lee Yes, I agree, we are living in an oligarchy. As a boomer I remember the golden '50s and '60s when the future seemed bright for working people. Comparatively, the future of today's millennials is bleak. But that generation has been so distracted and stupefied by social media they don't bother even to vote. This election just past might have been American democracy's last gasp at reining in the power of the super rich. If the inheritance tax is eliminated, as Trump is advocating, by 2030 a tiny aristocracy of a few hundred families whose wealth was inherited, not earned, will control this country by funding the campaigns of elected representatives. And their wealth will exceed that of the rest of the country combined. Meanwhile, at the bottom, people will struggle just to survive. Of course this kind of society cannot go on indefinitely. Either there will be a bloody civil war, or some totalitarian state will usurp America's power. I got a chill when Kugman acknowledged to Moyers that it's all over for America in terms of reasonable income equality. The ship has left the harbor. The stooges of the super rich, the Republicans, are now in charge. They will go about eliminating remaining taxes on the rich, and defunding any remaining social assistance programs: Obamacare, Social Security, Medicare, and so on. This isn't speculation: it's the Republican's publically announced agenda for the next Congress. By the time the millennials catch on it will be too late. It's already too late, says America's leading economist. Over the next decade or so left I expect to see America's best and brightest begin to leave this country for a better life elsewhere. As for the rest of us, well, we won't be able to keep up the pretense of prosperity much longer. Our only hope is that the millennials wake up, raise hell, and organize. They've got the numbers and they've definitely got the motivation. But their helicoptered childhood has left them unprepared to do battle, and battle must be done -- not in the streets, but in the corridors of politics. If they can revitalize the Democratic party and make the source of practical social programs like Social Security and Medicare to help reduce income inequality, that party will once again have meaning. Now is the time, before the upcoming administration undoes all the social progress made over the past 60 years.
I lived in the "golden 60s". I heard the exact same arguments then, from my parents and all their friends. Nothing ever changes. The doers do, the whiners whine. It was the same then, (only there were a hell of a lot less whiners then.)
@Doogie Houser - *fewer whiners, not less. Also note that the discussion is about inherited wealth. Not sure how much credit those go-getting babies have earned.
The US has been classified as an Oligarchy since 1981. It's not simply a problem of inherited wealth, many 'self-made men' use government policies made by Oligarchic interests to unjustly attain their wealth.
Polycube they do indeed. It's a stacked deck that favors the wealthy in an ever growing fashion. This last "recession" perfect example while most of us suffered at least some loss of wealth, the top 1% saw gains in theirs, though the "recession" was their fault! They were rewarded for what amounted to criminal behaviour.
***** You've become the same as the oppressors by using their inhumane reasoning and tactics. Racism is a mental condition that needs treating and the damage they do needs to be nullified lawfully. Punishment only conceals behaviors, it doesn't change minds.
***** what an unmitigated load of hogwash. This thought process, or lack thereof, is a perfect example of the failure of public education...."whitey"....really? You would offer such stupidity and cliche' as actual rational thought? You are embarrasing.
Exactly...in the same vein we should enforce documentary comparisons of the Politicians and economists mandates and forecasts from the past with today...that would put them in the 'Dock' more emphatically than any other means of showing them up to be responsible for their words...We might see a 12.5% success rate, perhaps, well, maybe not...
Speaking of Turkey, According to the Organization for Economic Cooperation and Development, Germans happily sort 65 percent of their waste into an array of color-coded bins to be collected for reuse or incineration. South Koreans come in second, recycling 59 percent of their refuse. The United States recycles 35 percent; that’s only slightly above the average for the developed countries that belong to the organization, but it is miles ahead of Turkey, where 99 percent of all trash ends up in a landfill.
+Blind Freddy, I consider your observation inaccurate. Erdogan comes from a religious, backwards-oriented political direction, who promises essential to "drain the swamp" and "make Turkey great again". In return he is treated by his followers as the messiah, who brings pride, greatness, independence, strength and (last not least) wealth back to the country. This is the classical fascist narrative - an illuminated figure, a "saviour" arises at the horizon, unifies the people, and leads them to a golden age. IMHO this is a tendency we can currently observe everywhere in the "western world" as a *reactionist* movement in reply to plutocratic tendencies that call themselves (neo-) liberal. If this chauvinistic, authoritarian tendency goes unopposed, it will ultimately lead to desaster.
Oh my God. I have been discussing this exact thing with others as the times and our futures are changing right before mine and our eyes losing Democracy toward becoming more an Oligarchy!
Three and a half minutes and I am reminded of what was at the root of the French Revolution. A country ruled by an aristocratic elite that made it impossible for any commoner or ordinary citizen to have any aspiration in an increasingly poor society. Sorry but the similarities are hard to ignore.
Whosoever, what % of people are in the streets demanding bread? The people in the streets are spoiled college kids with too much time on their hands! Are you starving or are you one of the spoiled?
Now in 2021 you get to see the results of this Marxists propaganda of blaming the wealthy Are you enjoying the direction this Socialist nonsense is taking us?
I can conclude that the myths of “self made” and “hard work” are just illusionary terms used by that small group to make the rest believe that they acquired all what they have applying those principles. 👽♥️♥️♥️
What is missing from this interview is a sense of reality we are seeing recently on NBC. The median income in the USA is at what would normally be considered a living local commute. This means half of the country is working for less than 4 times the rent for one bedroom apartment local commute. Shared housing what used to be considered homeless is now normal and homeless population does not exist. 12 trillion dollars of stimulus into the economy did not drop a dime on the streets of homeless people.
Well A Stanford University study had already declared that the U.S. was not a Democracy any longer but in fact an Oligarchy before this show aired in 2014.
paxwallacejazz it was never suppose to be a democracy! It was designed to be a democratic republic! 90% of united state citizens deserve whatever it is they get there so fucking stupid. The 14th amendment officially made every single us citizen a salve... state citizens have rights
All is been said about the 1% are the controlling entities, yes as that number is been mist understood. 33 million at 1% equate to humm 3.3 million, therefore I think the number should be 33 or 50 or 100, but 1%? Yes that group of people is somewhat interest to make the so called and true globalist to gather with the U.N that they too CREATED for that only purpose. The actual 1% is comprised by all of the people blindilly working for the globalist.
A discussion of facts, hope and harsh reality. Amazing that things could be better for everyone. Or the majority of people could remain as lowly pawns only complaining and not taking action. There is blatant, deliberate and powerful misinformation in the current time that confuses people into inaction or even worse, actions against their own best interests.
Walkerwayz indeed. Him and Phil Donahue (not sure I spelled that right). Among other great-albeit either dead and/or very old-American minds, journalists and thinkers.
PBS is not what it use to be ever since george w bush came to power in the usa.. now is nothing more then a polite cnn or msmbc and nothing more.. the pbs news hour of the past is no more.. Sad but the truth!
Oligarchy isn't possible without the richest having "politicians in their back pocket". The concentration of capital seems to be the nature of the beast. How does the world change this?
Vote out the old and vote in the new. Change laws to only people only of an income of a wealth income cap...LET IT TRULY BE WE OF THE PEOPLE...So no Jrs can be a govt official..they can,marry one only...term,limits....no stock trading when in office.
They don't , you are watching the largest wealth transfer in history and this suckers rally is on fake printed money to reflate the markets so everybody thinks things are back to normal. THEY ARE NOT!!
Hi AAMacK, we can only change it by changing the rules. Accept a sane bioethical paradigm for culture & you can accept the possibility of a bioethical monetary credit system. How do we get there? Co-creating an ecotopian civilization is the only way.
I do not think it is possible to change it ,as it is worldwide [just like the virus] and they all work together to keep the truth hidden and those that wish to change their corrupt systems are either subtly or blatantly sidelined or hindered from reaching positions where they could have a positive effect on real change . The system is the beast ,if you like. Here is our track "System is the beast" ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-RST-Rkmx_F0.html
Thank You for your honest insight and ongoing fight for a more fair world ! You are real humans, the rich ppl who don´t realize that it´s the last moment for them to change are not...and therefore.... I wish all humans who fight with arguements like Paul Krugman and Tome Piketty (although i still have to read the book to be honest) all the best But you all know we will win as there will be no future worth living in if we don´t.
I think the fiction that we are in control of our lives is more important than we like to think. So much of who you are, who you will become, what you will be, is determined by who you are born to, who you associate with, where you grew up. There is a reason Alexander the Great got Aristotle as his personal tutor and you got a cranky, unmotivated teacher (I have seen situations where someone who didn't understand the quadratic equation was teaching HS physics). There is some room for autonomy, some room for entrepreneurial outliers, but as they say within the first 5 minutes - "patrimonial capitalism." Well we have always been patrimonial in all ways throughout human history, always multi-generational in how things turn out. It is just so hard to see because you only live one life! Nepotism and the benefits of your family, which were inherited from the benefits of your grand-family, etc., tracing as far back as you like, are going to determine many things about who you are and what you are going to be able to accomplish.
Sooooo....what do you do, to stem that slide? That is, what have you chosen to, or been doing about it (other than voting...which is kinda like throwing oneself against a brick wall)...?
The "health" companies got the program they wanted. Obama and the Clintons tried to beat big Pharma and the insurance industry and lost. Now, we taxpayers pay them twice. It is such a crime that the same drug from the same US factory costs $10 in Mexico and $110 in San Diego.
@@DrJohnnyJ That's if your insurance company "allows" you to have that drug. They can force you to try something else on their "approved" list (read, a cheaper drug). Sometimes multiple "other drugs" before you can get what your DOCTOR prescribed in the first place.
When they say founding fathers I think of killers and the beneficiaries of killers who never once considered the precedence they were setting by keeping the lands murdering thieves stole from the previous inhabitants. Inhabitants who lived there for tens of thousands of years. Every other empire that gained lands through killing and unjustly colonizing had all been dissolved. From the Roman Empire who colonized Britain and no longer ruled, to the Mongolians who also conquered through killing. Empires dissolved, completing a cycle of justice. The Europeans, on the other hand, merely changed their name to Americans and got away with the world’s most downplayed genocides. They erased the tens of thousands of years of history any survivors of the onslaught of those people are denied, forced even to call themselves native Americans, as if 300 years outweighs tens of thousands of years.
@@ElectricityTaster Very TRUE.you only need a salary of 25k or higher to be in the worlds top 1%. the 1% demand for the 0.001%'s products is the root of the problem.
Depends on level of affect - but our family does not watch the news so ....what affect would you deem affects those whom live in rural areas? (just seeking your opinion & if you chose to respond - thank you!)
"It is easier for a camel to go through the eye of a needle than it is for a rich man to enter the Kingdom of Heaven." messiahjesusbible.com God has kept His promise to reveal all things that can be known in the Book that will never decay. “To everything there is a season…” ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-YUM21B1pexc.html
Once you have all the mansions and yachts and luxury cars that money can buy, what's left? Power. These people become dangerously powerful and democracy suffers.
What you have is the 8th wonder of the world Albert Einstein reportedly said it. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it. Or in this case he who understands it, earns it, keeps it, and avoids paying tax on it.
What you don't realize is that this video is propaganda to get you to hate the system. It doesn't matter what the 1% have, what matters is what you can get for yourself Ask yourself this, if this video cares about you so much, then why doesn't it tell you how you can make more money for yourself? The reason this video doesn't is because it wants to fill you full of negativity and resentment so it can control you and get you to support the Democrats taking over all the wealth of the country 'on your behalf', but you won't see any of it
10:00 The biggest issue that causes inequality is the collapsing (fiat) money. I was too young to really notice inflation in the 70 and 80's. My grandfather got a house for $3,000 as a wedding present in 1933. I live 3 blocks down on the same street, and rent half a house, a duplex, for over $2,000 per month.
Oh God, & if (no pun there)...the world-population at 1/2 billion people conspiracy is true....it explains the no action! (May 2020).... Wait for nearly a year in terrible plague to change presidents....you don't want to upset things, do you?
Profits are rising, yet the only salaries(inflation adjusted) that are rising exponentially are the managers'. The root of the issue is that workers need to be paid more. Stagnated wages while every other cost increases stunts the economy due to lack of spending.
@Bill Randall you telling me that college degree will make you middle class? I'm gonna wait for unicorn to take shit on my yard and wait for it to turn rainbow purple before I believe that bs
The lack of spending is also the result of less money available. People are "fighting" over what's left, to pay basic bills. With 8 billion people on the planet there is no shortage of labor. Remember the 'laws of supply and demand'?
From what I’ve observed for over 65 yrs., is, the candidate you describe, won’t get elected. Elections have been being planned, several decades ahead, for at the very least, since the 1950s. Only candidates who are willing to be the new Puppet, & belong to those groups who puppeteer, at least at a certain level, will get elected. Manipulations vary, but, essentially, candidates who label themselves Reps or Dems, make it to the final election; the others are distractions effectively used to minimize how many votes are needed to elect the desired Puppets. What government we used to have prior to the Civil War, has been drastically reduced in efficacy, corrupted by corporate interests that run the government by buying influence, dividing/conquering public, & baffling everyone w/disinformation in epic quantities. And more. It’s gotten to the point that even individuals need to incorporate, just to begin to survive. Even religions have had to become first corporations, and only then, non-profit. Corporations have mostly become corrupt, pointedly focused on profiteering at any/all costs. And those are what’s really running everything we live with. THATs gotta change to far better, more humanistic, more ethical, more aligned with rebuilding Life on the planet, instead of destroying it.
@@Chimonger1 Absolute power corrupts absolutely. I can't tell if you're arguing for or against corps. Sound like you just want reform not actual change. #ussralloveragain #letsgowithbakuninthistime
I swear I don't begrudge someone for being wealthy but it amazes me that someone worth 4 billion will commit massive fraud and basically do anything to not pay their fair share to be worth 4.5 billion.
@@waywardgeologist2520 Eliminate the loopholes only the rich get to use and who want to keep as much of their wealth to keep themselves in private jets and super yachts. NOBODY above $100,000/yr should pay less than 15%. That's being an AWFUL citizen! You don't belong in this country if you don't want to give back to a place that treated you well.
I though we were in an oligarchy already! One things that happen to oligarchies - they inspire revolutions. 1% cannot control 99%, especially if the 99% don't have anything to lose.
We are in an oligarchy already!!! They control our government with campaign contributions. Look at the organization called ALEC. They draft legislation and give out huge campaign contributions.
they can when they also control power - power over the military and police. Wake up. 99% of the population will not be able to rise up under the yoke of a police surveillance state.
If I had ten million bucks and fifty years I could be really rich. It is a no-brainer. Our tax system encourages it. It is hard not to get really rich if you have some money to invest and time to invest it.
@@jellyfishi_ The laboring class is the first to be enslaved. Of course, the captains of industry are also enslaved to the Golden Calf. The USA went through all this in early 20th century and no new thinking on the problems of the 99% since then. 1% has their knee on our necks and won't let up until we are dead.
11:25. Funny how people who accumulate some wealth and think they are part of the wealthy class. Yet, they could be wiped out in any major economic crash. They have no idea what real wealth is.
They do not discuss 1 very important observation from the book, that is that all major wars and civil uprising are preceded by high wealth gaps. We are now at an all time high.
We are seeing not only great disparities in income and wealth, we are seeing them being entrenched: we are seeing them inequalities that are being transferred across generations. We are becoming the kind of society we imagined we are nothing like.." @ 4:54
@Lasse Givoni are you saying that "everyone can be happy it doesnt depend on wealth" is a lie? Surely you know happiness doesn't come from money, that's pretty much common knowledge. We need money of course, like we need blood, but the source of any happiness is your own mind.
Bill Moyers & Co has provided exposure, insight, investigation, information, & inspiration that I've appreciated. More should follow his example, the 5th estate must have such integrity & provide such a service.
In way of being optimistic, Krugman remarked that the progressive tax was instituted during the heighth of America's Golden Age, the early 20th century. But that was when the first-generation wealth was being formed by the robber barons and tycoons. Now, based on what he says, that first and second-gen wealth is being passed on, through inheritance, to their heirs. Which is not encouraging to me: I find it strangely true that those who are the least responsible for the wealth they have feel the most entitled to it.
And during the 19th century there was constant deflation and peoples living standards were improving. They also didn’t have the government taking half what they earn.
The dollar vote is usekess as a tool if central bankers can just print it out of nothing and out vote your hard earned votes. A fair monetary system is need for an economic vote to be effective. Without it, central bankers control the votes.
Pip Santos No no no, that defeats the whole purpose lol We vote each dollar from the government budgets (one citizen, one vote) or allocated for whatever each year, and WE the people decide what projects, communities, people gets what based on short summaries of each project/new technologies,research,communities, whatever is applying for money and why. Top 5% of companies and individuals should immediately be taxed an additional 5% in taxes which will give us a much greater pool t start with by lowering working class taxes to 2%. Lobbyists won't be anywhere near as effective at bribing the whole country, force rich people to do th right thing, give everyone the whole year to look over booklets of applicants (after any claims they make have been independently verified) , compare what they have been given previous years and why with a independent hotline we can call whose identities remain unknown to us and lobbyists and then vote at re end of year or submit booklet with their amounts written by each organization//country or whatever.have independent anonymous vote counters and see what the results are. That would be a true people's democracy. But the government wants to make us think we're stupid and coupling do what they do with ease.
One of the unfortunate consequences of the income inequality is the drop in the overall quality of education. The result is that there is a sharp diminished ability for many to process information and evidence. A few childish types even resort to name-calling. Most people criticizing Krugman obviously missed the point because their grasp of this most obvious piece of knowledge is simply beyond their forces.
False. Quality of education is caused by the state because it's mostly controlled by the state. Banking, healthcare and education are all heavily regulated by the state. This creates cartels and monopolies which increases price and lowers quality. It has nothing to do with income inequality.
U2 Guitar Tutorials and where do those funds come from? Taxes in lower income areas there is less tax for quality education. How can you not recognise this. Equality is dependant upon access to the very basics of health and education. America is investing so little in its future that it is doomed to fail.
While in even challenging fiscal circumstances it's imperative to rebuild the middle class that has been gutted by the oligarchical influence of the past few decades, we're facing an existential threat. Mother nature won't wait for politics and punditry to MAYBE get their acts together. Ironically, there are millions upon millions of jobs/industries/even profits to be made by eradicating pollution + protecting/restoring/expanding flora & fauna. If we don't as a global community take this on with exceptional alacrity, future generations, hell, this generation, will suffer immensely. If we don't put healing nature first, building a paradigm that ensures her health and therefore ours, before every other consideration, we can kiss everything else goodbye.
Wealth is VASTLY overrated. My friend has a very wealthy acquaintance who says she never has a moments peace or quiet. The leering "Help" is everywhere! 24hrs a day, 7 days a week, 365. Cutting lawn, steam-cleaning the driveway, washing windows, polishing silver, trimming trees, painting walls, banging pots in the kitchen, washing dishes, packing sideboards, dusting furniture, doing laundry, washing cars, in hallways, in rooms, vacuuming carpets, in the yard, cleaning the pool, tending livery, walking the dogs, ironing clothes. She writes checks and pays for repairs all day long. The help always whispering and shuffling about quickly to 'be out the way.' She told me once her happiest moment is when we all go for a bowl of Chile at Barney's the local dive just so she can escape the help. A day at her mansion is exhausting. NO THANK YOU. Give me our little cabin in the peace and quiet of the mountains any day of the week.
There needs to be a blanace to the biggest corruption and threat yet.... without that I can guarantee that you would've spoken some dialect of mandarin by now... and that you would not have been able to say what you think in public.
People who benefit from massive amounts of capital spent on wars are, guess who? The same wealthy people in the 1% group because they own or are majority shareholders of companies that make fighter planes, tanks, missiles, guns, bombs, and all other weapons used on wars.
@Julia A Thanks and agree with your comment. Also and again, most of the banks and Finance companies are owned directly or by their shares of stocks by the same 1% group of wealthy people. So, wherever you look, these people have bought most politicians and through their Gov't policies and sadly, control all of us and that's where we are now and why people are upset and dissatisfied and are now protesting and demonstrating.
steve nunua We were just a republic that represented only the plutocracy. You had to have a sufficient valued set of property to vote, a male at around 21, and generally show some European decent. The senate wasn't even voted by the general public, but by the oligarchs who tended to have the leisure time to run for office for the House. Same for voting for the president, only the House and Senate voted. Slavery and servitude with a very strong cast system existed. Duels were often conducted. And people thought bleeding would balance "humors" to cure colds and other illnesses when really it causes all conditions to get worse. We've changed since backward backwater days of our countries inception both in our scientific understanding, and in our democratic we the people for the people by the people democratic government. We're currently a democratic representative democracy. Our constitution has continuously been updated. In fact, the first amendments to our constitutions happened in 1794 11th amendment. Not to much mention the first 10 amendments were amending the first articles of the confederate that weren't working. Presidential procedures amended in 1803 where the states would determine electorate for voting for president where the states tended to open the vote to property owner votes. Later changed again in 1866 14th amendment. Various other constitutional amendments now recognize adults 18 or older, all citizens regardless of economic class, racial class, or gender, may vote. Stop calling us not a democracy. And quit wanting some plutocracy. That's sheer stupidity.
jmitterii2 First understand the authoritarian and human nature. The best covert action was to invent a bunch of documents to cover up their authoritarianism. That was done with the bull shit of a Republic, liberty, freedom and our 3 documents we hold so dear that actually gave the power to the government, not the people. The people loved it and worked to get the carrot of freedom and liberty that was only a ruse from the start. We built a powerful country in a few short hundred years probably exceeding even their expectations of their spin and lies. Americans are obviously more gullible then most. Then around 1900 the slow boil to the same old totalitarian oligarchy began...and that is what we have today.