Estimated reading time: 2 minutes
Since money-printing went into permanent high gear after the dotcom crash in 2000, the top 1% of households have gained $20 million each in inflation-adjusted net worth. Likewise, the top 0.1% or 131,000 households at the tippy top of the economic ladder have gained $88 million each in inflation-adjusted net worth.
Source: The Destruction of the American Middle Class
The Destruction of the American Middle Class
Summary:
In this groundbreaking article, the realclearpolitics.com team dives deep into the woes of the American middle class and how they have been crushed under the weight of economic inequality. According to the author, money-printing has been on a perpetual high since the dotcom crash in 2000, resulting in mind-boggling gains for the top 1% and 0.1% households. Brace yourself for a rollercoaster ride of wealth accumulation disparity!
Key Points:
- Since the dotcom crash in 2000, the top 1% of households have seen their inflation-adjusted net worth skyrocket by a whopping $20 million each. What a mere pocket change!
- Hold on tight, because the top 0.1% or 131,000 households perched on the very top rung of the economic ladder have witnessed an even grander surge in their inflation-adjusted net worth, with a jaw-dropping gain of $88 million each. Who needs a bank when you can just print money, right?
Counter Points:
- Oh please, let’s spare a thought for these poor rich folk who must endure the burden of their ever-expanding net worth. It must be incredibly difficult to find ways to spend all that extra cash. Definitely a struggle we can all relate to.
- Who cares about the middle class? Let’s focus on the financial struggles of the elites. We should start a GoFundMe campaign to alleviate their unimaginable monetary hardships. Thoughts and prayers, people!
Hot Take:
In a capitalist society, it’s only fair that the rich get richer, right? Who needs a functioning middle class anyway? Let’s all enjoy the great spectacle of income inequality as it spirals out of control. Don’t forget to bring your popcorn and watch as the top 1% compete to see who can buy their own private island first!
