There’s Trouble Brewing In Middle Earth
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Underwood&Underwood Chicago framed by Gothic stonework high in the Tribune Tower 1952 For the second time in three years, I’m fortunate enough to spen
[See the full post at: There’s Trouble Brewing In Middle Earth]I recalled hearing something about soaring income inequality there so checked it out
“Until the 1980s, New Zealand used to be one of the most equal countries in the world (although that equality didn’t extend to all groups). But in the two decades from the mid-1980s on, the gap between the rich and the rest increased faster than anywhere else in the developed world.”
https://www.inequality.org.nz/understand/
The source there is a Christian group. How long before such groups there go US style Christian in embracing inequality and decrying charity. With their politics now full on Wall Street/ neo liberal with a good dose of all in on the Global War on Terror I would say not very long.
The Anglo Saxon “disease” has full compliment of symptoms beyond loving real estate inflation. In many ways however asset inflation seems to be the virus that causes all the other symptoms.
My opinion is that the generations of super wealthy individuals (The Predator Class), who had not witnessed the Depression, were no longer afraid to flaunt their wealth and power publicly and this trend has accelerated since the 80’s. It will hit the wall one of these days and, for a time, will be forced underground again. It seems human nature results in the Predator class aggregating an inappropriate amount of money and power until it gets so intolerable that both are wrested from their hands. Usually not very pleasant. Doesn’t matter what type of economic system, capitalism or communism.
indeed. they should grow hemp for self sufficiency. a back-to-the-land movement. establish eco-communities in rural areas using hemp cultivation and processing as the economic base. forget selling stuff to foreigners. abandon real estate speculation.
I don’t think we base our economy on one client and industry. Putting it that way implies agency. No, it just happened because some people made money from it for a while. And dairy farmers expecting the good times to roll for ever is just plain human nature. But when it goes wrong, then bad stuff happens.
I’ve though that the average Joe isn’t doing better, despite government figures. Independent figures had the median income falling in 2013, so it’s no surprise that “real incomes” fell last year. I’m not sure how housing fits into the official GDP figures but the real economy can’t be growing if incomes are falling, to my mind.
You just can’t believe official numbers any more, in any country.
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