Evidence that the US is a failed state is piling up faster than I can record it.
One conclusive hallmark of a failed state is that the crooks are inside the government, using government to protect and to advance their private interests.
Another conclusive hallmark is rising income inequality as the insiders manipulate economic policy for their enrichment at the expense of everyone else.Do you peasants know how much it costs to staff and maintain a NYC penthouse, an Aspen ski lodge, an Aruba hideaway and that lovely Connecticut farm?
Income inequality in the US is now the most extreme of all countries. The 2008 OECD report, “Income Distribution and Poverty in OECD Countries,” concludes that the US is the country with the highest inequality and poverty rate across the OECD and that since 2000 nowhere has there been such a stark rise in income inequality as in the US.
The OECD finds that in the US the distribution of wealth is even more unequal than the distribution of income.
On October 21, 2009, Business Week reported that a new report from the United Nations Development Program concluded that the US ranked third among states with the worst income inequality. As number one and number two, Hong Kong and Singapore, are both essentially city states, not countries, the US actually has the shame of being the country with the most inequality in the distribution of income.
The stark increase in US income inequality in the 21st century coincides with the offshoring of US jobs, which enriched executives with “performance bonuses” while impoverishing the middle class, and with the rapid rise of unregulated OTC derivatives, which enriched Wall Street and the financial sector at the expense of everyone else.
Millions of Americans have lost their homes and half of their retirement savings while being loaded up with government debt to bail out the banksters who created the derivative crisis.
Frontline’s October 21 broadcast, “The Warning,” documents how Federal Reserve Chairman Alan Greenspan, Treasury Secretary Robert Rubin, Deputy Treasury Secretary Larry Summers, and Securities and Exchange Commission Chairman Arthur Levitt blocked Brooksley Born, head of the Commodity Futures Trading Commission, from performing her statutory duties and regulating OTC derivatives....
And how much it costs to have that personal jet and those chauffeured limos to take you to your castles?
I thought not.
Don't even ask me about the high price of Beluga Caviar and Dom Perignon Chanpagne--what, you expect us to consume domestic? Shudder.
Just because our ancestors helped set off 'Bank Panics' in 1853, 1873, 1893, 1907 and the really BIG ONE of 1929 and we set off the latest one doesn't mean we're a bunch of greedy pigs.
So stop bitching about losing your home, job and your 401K account to Wall Street gangsters.
You should feel gratified that your miserly contribution helped the wealthy elite live the lifestlye you only read about.