Dec. 30, 2019
The Global Economy Is Troubling Too Few With So Much
2019 was a fantastic year for the 500 most wealthiest families in the world. The amount of their personal wealth increased by a whooping 25%. In terms of dollar amount that was a total of 1.2 trillion dollars. That my friends is the total spending power of the African American community. If you are looking at a country's Gross National Product (GNP) that 1.2 trillion dollars would rank alongside Mexico as the 15th largest GNP in world.Think about that for just a moment let it percolate in your mind the wealth of these 500 individual families increased far more than the GNP of such nations as Switzerland (where many of these families hid their wealth), The Netherlands, Saudi Arabia (where much of the world's oil is located), Turkey ( currently a nation embroiled in America's foreign policies misadventures), Indonesia, and of course Mexico. That is simply amazing that we in many instances worship these individuals. Amazon's Jeff Bezos lost 9 billion dollars and still remains #1 on the list with an accumulated wealth of 116 billion dollars. How did he lose that much wealth? Will he former wife picked it up and now is worth 28 billion dollars. The total wealth of these 500 individuals and families is now 5.2 trillion dollars. That my friends is sickening that the amount of accumulated wealth is valued now as number three on the global stage behind only the USA and China.
If anyone doesn't believe that these individuals don't carry extreme influence and power on the world's stage then you are kidding yourselves. The Republican tax cuts that benefited the most wealthy surely increased the amount on increased wealth for those Americans who are on this list. Do you know what year it was the last time the top 1% controlled so much of this country's wealth? Well, it was the year many wall-streeters were considering jumping off building due to the market collapse in 1929. We are about to entire the decade one hundred years ago that was known as the roaring 20's in 1920. However things are not roaring for the vast majority of Americans. You have American farmers suffering from trade agreements and ecological disruptions that have caused my American farmers to positions close to poverty levels. You have many American retailers closing there establishments at record levels. You have labor unions suffering because industrial production in this nation has virtually collapsed. You have our nation's infrastructure collapsing due to the inability to finance the vast improvements that are necessary. You have the nation's public school systems overburdened not only by deprivation but also budget cutbacks that have adversely affected classroom instruction. You have overcrowded state and federal penitentiaries due to the mass incarceration policies implemented to house those unable to gain an economic footing in this nation. So many, many societal issues that could easily be solved if only our government officials would stop relishing and cherishing the wealth magnets. Many of the suffering groups don't the luxury of paid lobbyists whom line our elected politicians pockets and bellies for influence on critical municipal, state, and federal legislation. How can this nation accept the fact that people are starving and suffering while the rich continue to accrue massive amounts of wealth? How can many of those who have little continue to support the minority of those who have such damn much? I mean it seems that whatever game or strategy the 1% had devised to trick the majority to oppose them proactively it's working. Just think to yourselves this thought because it is pertinent to this bog post. Did your yearly salary increase by 25%? Did your hourly pay increase by 25%? Did your retirement or pension check increase by 25%? Did the earnings from the family farm increase by 25%? Do you think you are less deserving then these 500 individuals or families? If not, why not? This nation can no longer accept the code of wealth inequity that punishes the majority while rewarding the less than 1%.