Jesse Ventura’s epic rant against billionaires:— The Vanguard (@vanguard_pod) January 31, 2021
“There shouldn’t be ONE billionaire… The older I get, the more flaws I see in capitalism, and the more good things I see in socialism.”
The fire rises!
“Former wrestling star Jesse Ventura has lashed out at the financial pillars of American society, insisting capitalism was an increasingly flawed system when compared to socialism and calling for the introduction of a maximum annual wage.
Over a decade on from the financial crisis that brought the world’s economy to its knees, the sharp divide between the haves and the have nots has again been brought to the fore by the coronavirus pandemic, which has disproportionately hit those with a low disposable income harder than the wealthy.
While billionaires lost large chunks of their fortune as the stock market collapsed in the early stages of the pandemic, they have long since recouped their losses. …”
I agree with this part.
“The oligarchization of American elites and the parallel pauperization of the citizenry is the real but uniformly suppressed story behind the country’s ongoing Balkanization, while the preferred narrative has been that alleged racial and gender injustice must be overcome by executive fiat. The relative impoverishment of the American middle class has degraded the power of the citizenry to self-govern and has emboldened an increasingly detached elite to indulge in group-based political experiments, with the reengineering of the nation in accordance with ever-shifting notions of “equity and social justice” the ultimate goal.
Just before the COVID pandemic hit, almost one third of all Americans lived in lower-class households, with the median income of just over $25,000 a year, less than two-thirds the national median. In 2015 the number of middle-class households dipped below 50 percent. With the lockdowns destroying small businesses, it continues to spiral downward. In contrast, in the 1950s, two thirds of American households were comfortably middle-class. Most importantly, while barely half of all households today belong to the middle class, according to Pew, already in 2014 the gap between the earnings of middle-income and upper-income families was the widest ever recorded in American history.
The fading of the middle class has been the predictable byproduct of the corporate off-shoring of our industry and has diminished its influence, a trend accelerated by the persistent disavowal of its values and lifestyles by our nation’s opinion-makers. In a nation where 80 percent of the population has seen its relative economic position decline and, with it, its ability to influence the country’s politics increasingly marginalized, the ruling oligarchy’s continued disregard for their concerns, values, and preferences is a prescription for deepening polarization, political instability, and further unrest. …”
This is what real “equity,” not neoliberal “equity,” looks like.
The ruling class oligarchy in this country needs an enema. Everyone knows it too. We can’t continue going down this road. It leads to far too much immiseration and social instability.
Note: Peter Turchin has spelled it all out. We need immigration restriction and wealth redistribution like we had in the Depression. Right now, we have a bloated oligarchy, a surplus of elites, record polarization, growing immiseration and fiscal insolvency. It is a recipe for disaster.