Oldspeak:”O_o At what point does extreme inequality become not ok? As more and more resources are gobbled up by the war machine, the corporate oligarchs & the national security/surveillance state, there’s less and less being invested in America and it’s people. There are people in very powerful positions in this society who are programmed it seems to extract and hoard as many resources as possible, by as many means as possible until there is nothing left to extract. Millions of homes, jobs & savings lost, doesn’t matter, keep extracting. Banks are putting the extraction process in overdrive now with their recent announcements of charging 5 dollar fees to use their debit cards, yet another exorbitant fee to use your hard-earned money. Enough is never enough. This is basically our national ethos. With the money worship, celebrity idolatry & virulent consumerism/monetization. We must always always want more. Equilibrium has no place in this society, must get bigger, must get stronger, must get faster, must get smarter, must get sexier, must get followers… The problem with that worldview is we live in a finite world. There are a finite amount of resources. And everyday there are fewer and fewer to go around. An infinite consumption ethos is the surest pathway to destruction.
The Wall Street Journal notes:
Nearly half, 48.5%, of the population lived in a household that received some type of government benefit in the first quarter of 2010, according to Census data.
And yet – as NakedCapitalism notes – One Third of Americans One Paycheck Away From Homelessness.
What Does It Mean?
We are in very tough times.
As I noted last year:
Food Stamps Replace Soup Kitchens
1 out of every 7 Americans now rely on food stamps.
While we don’t see soup kitchens, it may only be because so many Americans are receiving food stamps.
Indeed, despite the dramatic photographs we’ve all seen of the 1930s, the 43 million Americans relying on food stamps to get by may actually be much greater than the number who relied on soup kitchens during the Great Depression.
In addition, according to Chaz Valenza (a small business owner in New Jersey who earned his MBA from New York University’s Stern School of Business) millions of Americans are heading to foodbanks for the first time in their lives.