Posted on 11/22/2023 8:00:51 AM PST by SeekAndFind
The rich have been getting richer and the poor have been getting poorer, and this is causing all sorts of societal problems.
Thanks to social media, the poor can see the incredible affluence that the wealthy are enjoying, and they are deeply envious.
Of course it certainly doesn’t help that flaunting wealth has become one of the favorite pastimes of the wealthy.
Many of them love to post photos and videos of their luxury lifestyles on their social media accounts, and that is not a good thing.
Because times have not been good for most of the country.
In fact, a brand new study from the Federal Reserve has discovered that the bottom 80 percent have “lower bank deposits and other liquid assets compared to their status in March 2020”…
As of June, the bottom 80% of households by income, when adjusted for inflation, had lower bank deposits and other liquid assets compared to their status in March 2020. The decline marks a significant shift from the initial phases of the pandemic, where various factors, including government financial support and restricted spending opportunities during lockdowns, led to an accumulation of excess savings.
In other words, the vast majority of all Americans have been getting poorer.
Meanwhile, the rich have just kept on getting even richer…
The Federal Reserve, along with Bloomberg calculations, identified a rapid drawdown of these excess savings, particularly stark among the lower-income groups. While all income groups have experienced a decrease in real-term cash balances from the peak in 2021, the disparity is noteworthy. The wealthiest one-fifth of households still have cash savings approximately 8% above their pre-COVID levels. In stark contrast, the poorest two-fifths have witnessed an 8% decrease, and the next 40% — broadly representing the middle class — have seen their cash savings fall below pre-pandemic levels.
Right now, the gap between the wealthy and the rest of us is the greatest that it has ever been in the entire history of our nation.
According to a different report that was just put out by the Labor Department, average hourly earnings are lower today than they were when Joe Biden first entered the White House…
Millions of Americans have received a pay cut over the past two years thanks to high inflation, a blow to President Biden as he attempts to center his re-election campaign around “Bidenomics.”
The Labor Department reported Tuesday that average hourly earnings for all employees was $11.05 in October — a 3.32% decline from the $11.43 figure in January 2021, when Biden took office.
And as the pace of layoffs picks up, soon millions of Americans won’t have a job to go to at all.
This week, we learned that Citigroup has begun large scale layoffs…
One of the U.S.’ top banks will begin massive layoffs on Wednesday in a corporate overhaul as the company seeks to trim its operating expenses to levels more in line with its competitors, according to CNBC.
Citigroup will begin cutting employees on Wednesday, with new terminations continuing to be announced through next week, affecting some chiefs of staff, managing directors and lower-level employees, according to CNBC. Following the initial round of layoffs, more employees in less senior positions are expected to be dismissed in February, with the layoffs being expected to be fully completed by March 2024.
And Stellantis has just announced that it has offered buyouts to approximately half of their salaried employees…
Stellantis, one of the Big Three U.S. automakers, on Monday offered buyouts to about half of its salaried employees as it looks to cut costs as it transitions to electric vehicles (EVs) and takes on increased costs from a new union contract.
The parent company of major car brands like Chrysler, Dodge, Jeep and Ram offered voluntary buyouts to about 6,400 of its roughly 12,700 salaried employees who aren’t represented by a union and have at least five years of experience. Employees who accept the incentive will depart the company before the end of December.
As economic conditions have deteriorated, crime has soared.
In recent days I have written about the shocking thefts that we are witnessing all over the nation, but this one tops them all…
This is the shocking moment a mob of 40 people looted a FedEx truck while it was stopped at a red light in Memphis, Tennessee.
Around 8:30pm Saturday, a 53-foot trailer was ransacked while it sat in traffic at the intersection of Riverport Road and West Mallory Avenue.
After the driver reported the theft, the Memphis police arrived and saw vehicles speeding away recklessly along with a number of boxes thrown across the road.
The FedEx truck had nowhere to go, because once it reached the intersection there were cars that suddenly moved into position to block it…
The truck driver told the police that cars blocked the intersection just before a group of men broke open the sealed back door and looted the trailer.
Three men have since been detained after the raging group caused nearly $10,000 in damages – and stole numerous items such as Kicker Speakers, a box of air liners and three DirectTV cable boxes.
In my brand new book entitled “Chaos”, I specifically warn people to avoid Memphis if at all possible.
It has become one of the most dangerous cities in the entire country.
But of course we are starting to see these sorts of crimes everywhere.
Large groups of people have decided that it is okay to take from the rich and the corporations that they control and give to the poor (themselves) because the rich probably exploited the poor to get their wealth in the first place.
This sort of “Robin Hood mentality” is extremely dangerous, and it is rapidly spreading.
And now we have an election season and a war in the Middle East to add fuel to the fire. On Thursday, a crazed group of protesters shut down the entire Bay Bridge…
A well-coordinated group of hundreds of Pro-Palestine protesters shut down the Bay Bridge on Thursday morning, tying up traffic during rush hour and calling out to world leaders to end the war in Gaza during the APEC summit.
The four-hour chaotic event, which started around 7:45 a.m., ended with at least 70 arrests and 29 towed cars. All lanes finally reopened just before noon, but not after at least 200 protesters had chained themselves together and purposefully tossed their car keys into the bay, stalling efforts to reopen the span to frustrated drivers.
Needless to say, this is just the beginning.
The war in the Middle East is going to continue to escalate, and 2024 will be the most chaotic election year that any of us have ever seen by far.
So buckle up and hold on tight, because we are going to see staggering levels of civil unrest and crime in 2024 and beyond.
* * *
Well, that happens when you close all the businesses and make everybody stay inside and print a gazillion dollars to pay off favored enterprises.
Let’s Go Brandon!
So buckle up and hold on tight, because we are going to see staggering levels of civil unrest and crime in 2024 and beyond.
Well regulated means being of like mind for a purpose.
If I shake you awake in the middle of the night and ask you why you fight. After you reach for your gun, what do you tell me?
Our Founding Fathers could answer that question.
Revolution Calling - Queensryche
For a price, I’d do about anything except pull the trigger
For that, I’d need a pretty good cause
Then I heard of Dr. X, the man with the cure
Just watch the television, yeah, you’ll see there’s something going on
Got no love for politicians or that crazy scene in D.C.
It’s just a power-mad town
But the time is ripe for changes, there’s a growing feeling
That taking a chance on a new kind of vision is due
[Pre-Chorus 1]
I used to trust the media to tell me the truth, tell us the truth
But now I’ve seen the payoffs everywhere I look
Who do you trust when everyone’s a crook?
[Chorus]
Revolution calling
Revolution calling
Revolution calling you
There’s a revolution calling
Revolution calling
Gotta make a change
Gotta push, gotta push it on through
[Verse 2]
Well, I’m tired of all this bullshit they keep selling me on TV
About the communist plan
And all the shady preachers begging for my cash
Swiss bank accounts while giving their secretaries the slam
They’re all in Penthouse now or Playboy magazine
Million-dollar stories to tell
I guess Warhol wasn’t wrong, fame fifteen minutes long
Everyone’s using everybody, making the sale
[Pre-Chorus 2]
I used to think that only America’s way, way was right
But now the holy dollar rules everybody’s lives
Gotta make a million, doesn’t matter who dies
[Chorus]
Revolution calling
Revolution calling
Revolution calling you
There’s a revolution calling
Revolution calling
Gotta make a change
Gotta push, gotta push it on through
[Guitar Solo]
[Pre-Chorus 1]
I used to trust the media to tell me the truth, tell us the truth
But now I’ve seen the payoffs everywhere I look
Who do you trust when everyone’s a crook?
[Chorus]
Revolution calling (Revolution)
Revolution calling (Revolution)
Revolution calling you
There’s a revolution calling (Revolution)
Revolution calling (Revolution)
Gotta make a change
Gotta push, gotta push it on
Revolution calling (Revolution)
Revolution calling (Revolution)
Revolution calling you
There’s a revolution calling (Revolution)
Revolution calling (Revolution)
Gotta make a change
Gotta push, gotta push it on through
Memphis... it’s a shame the whole Liberia thing didn’t work out...
It will be anarchy similar to a zombie movie, but replace zombies with feral urbanites.
Mission accomplished!
“Many of them love to post photos and videos of their luxury lifestyles on their social media accounts...”
______________________________________________
So, despite their wealth and luxury, they are still empty inside and need the attention and affirmation from total strangers. An excellent example and further proof that money does not buy happiness.
Nice, wishful sentiment for the 80% but there are no Robin Hoods around. Only Hoods. And they are called ‘government.’
Many during the DemPanic found it impossible to continue paying rent. So they stopped doing so
Have most of those folks now resumed paying rent? Or no? If their landlords have now evicted them, where are they living?
“The FedEx truck had nowhere to go, because once it reached the intersection there were cars that suddenly moved into position to block it…”
Well, there’s no car on the road that can actually stop a truck if the driver is not in a mood to be stopped.
Most of them got rental assistance from the federal government, who paid off their debt with printed money (spreading the debt to everyone else through inflation).
As to where the ones that got evicted are living, who knows? Some of them are probably part of the homeless epidemic now. But also, prospective renters are trying to use falsified IDs and falsified income documents now at levels never before seen. I’d say maybe 10% of the people trying to rent are probably engaging in fraud of that type, so they may be ones trying to hide their debts and previous evictions.
Please ... These ‘Robin Hoods’ steal from the rich and keep it themselves.
Whenever I see someone post pictures of their 10,000sf pad or stable of exotic wheels, or driving around town in one, I can't help but think "well there goes someone with a big target on their back." But that's their right, and God bless.
You're better off with a nice gentleman's farm and some reliable - but not too flashy vehicles so as to draw little attention. Thugs will follow a guy driving an Aston Martin home in order to jack it (as happened recently downstate). A two year old Tundra, not so much.
bkmk
Dennis Moore
Dennis Moore
E’s not in this bit!
I’ve had higher bank deposits but funnily enough aren’t accruing money. Odd isn’t it?
The Republican Party represents the middle class now.
The Democrats need more votes so they'll import more immigrants.
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