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dissonant1's avatar

When it comes to revolution I always think of the Beatles first - OK betraying my age - although I am on the younger end of that. I also think of Janis Joplin's / Kris Kristofferson's "Freedom's just another word for nothing left to lose." Truly, that's what I think it ultimately has to come down to. Do the Millennials and younger know/feel this? Do the Boomers feel and accept this? How bad do things have to get to where I would give up my Social Security and/or Medicare payments? We better ask that question, folks. Because that is what it is going to come down to. They want to control you through what they pay you. How much does the frog (you) have to boil before he (you) jumps?

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ML's avatar

Interesting analysis and chart, confirming what Georges Bataille wrote years ago: “wealth is the power to lose money.”

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Neil in SD's avatar

Nope. No rebellion. Sorry. Great analysis Mark, and I share your pessimism. Two real-world examples demonstrate the problem. The first was the COVID scamdemic. Most Western countries could not wait to abide the most draconian and most non-sensical policies, even when solid contrary evidence was presented to them. Those who tried to warn us are still being punished. Second example is our ongoing war with Russia. The West, especially the US and UK, keep escalating and escalating. As you write, Mark, I don't remember voting for this. I believe the Deep State believes they can get away with this because, hey, oceans apart. When (not a matter of "if") Russia has had enough, it will be - first - the poor bastards in Ukraine who pay the price. Unlikely that the s--t will hit the fans where it should: again, the US and UK. When thousands of body bags start landing at Dover AFB, maybe then there will be some reaction. Maybe. Biden checking his watch as the caskets were unloaded will forever capture the true feelings of our leaders. Thank you, Mark.

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Ray-SoCa's avatar

I don’t understand how they came about, but Blackrock and ilk. Taking individual investments and adding together to wield huge political power. And unfortunately a leftist agenda.

The majority of the ngo ecosystem in the U.S. has had a huge impact going back decades. Huge money is involved, tax free.

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Rick T.'s avatar

One might wonder how much of the decrease in the wage slaves' share of the GDP pie is distorted by the massive increases in government spending. I believe it's likely that most people look at that chart and think greedy capitalists. Not that I am in any way defending capitalists here, just wondering.

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ROBERT Incognito's avatar

You are so based your Substack should have tens of thousands to millions of followers. That it isn’t is testament to the lack of awareness in our society.

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Isaac Nolan's avatar

FR. Mark’s substack is the only feed in my RSS reader where I open every single article posted.

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Mark Wauck's avatar

Thanks to both of you. I've got a lot going on at home these days so I'm just trying to keep up.

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ROBERT Incognito's avatar

The problem of wealth disparity is exasperated by the loss of morality and lack of intelligence in the United States. Politicians are more easily manipulated with money as is the population. Someone like Zuckerberg can influence an election with an insignificant portion of his wealth. Protests can be astroturfed by the likes of Soros who again can do so with insignificant amounts (to him) of money. Doctors, lawyers and other professionals are currently threatened with loss of career and livelihood in today’s America. A lack of understanding and ubiquitous propaganda easily controls a majority of the population, especially supposedly well educated (masters and doctorate level people specifically) folks.

Also, the super wealthy can buy property worldwide and stash money(gold) globally with the ability to easily buy off foreign officials.

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Ray-SoCa's avatar

Doctors were neutered by Obamacare. Brilliant politics to change the culture and politics of Doctors from mostly small business owners to employees of health bemoths.

Lawyers I don’t see the threat to their livelihood. In the us they are a tax that feeds off of governments growth, both with colluding, being employed by, and being the majority of congress.

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ROBERT Incognito's avatar

Lawyers are certainly threatened, specifically any who defended Trump. They even went after Alan Dershowitz. I saw Rudy Giuliani disbarred. Wasn’t an entire team set up to go after every lawyer who defended Trump?

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Ray-SoCa's avatar

I agree with you on the small subset of lawyers willing to challenge election issues, or defend Trump.

The tribulations of John Eastman are horrible. Plus what’s going on in Arizona. The state bars have been weaponized. And I acknowledge what has happened to Giuliani.

Question an election and/ dominion software / smartmatic and you could end up in court. And last I read, a federal judge is still withholding vulnerability information (sister of npr Nina totenberg).

And this fun fact dominion software is accused of bribery in Philippines.

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ROBERT Incognito's avatar

I saw Jenna Ellis crying in court

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Mark Wauck's avatar

Horrible. What a country.

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Mark Wauck's avatar

Good point. After I published it occurred to me that I should have included the medical profession among those representatives and keepers of societal values. Who have failed.

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D F Barr's avatar

That’s how property taxes work in so many politically corrupted areas. The mortgage could be paid off, but the increasingly “greedy” government needs more and more. Hence, you wind up having to pay rent to the government in the form of taxes to keep the house. You don’t really own it. You are allowed to maintain it and live there as long as your landlord gets paid. Otherwise the sheriff shows up with weapons drawn to take it. Life, Liberty, Property? Huh?

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Yancey Ward's avatar

And that graph is poorly labeled- (doesn't speak well of B of A). It shows the ratio of "wealth" to GDP, not a percentage.

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Yancey Ward's avatar

On the Zerohedge publication of Smith's essay I pointed out that the wealth of 1% and above is largely paper wealth siloed and never converted into goods and services- including the paper income it generates year after year. Any attempts to redistribute this paper wealth will cause it to be converted into goods and services setting off a hyper-inflation. This is the very nature of a financialized economy- the "wealth" isn't backed by production.

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dissonant1's avatar

Great comment! Somewhat tangential to the financial point but yet illustrative of it, let me present an example.

My mother told me that when she was young she had many well-to-do friends who lived in large "mansions." Yet, she told me, that when she attended parties in these mansions she learned that the third and fourth floors of them were vacant. In other words, they were there for show but for nothing useful or productive. That seems to me to be a useful analogy of our current financialized economy. It is there on paper but it is not productive in any way and its ability to be quickly liquidated is suspect. If/when the margin calls come in those houses and any other perhaps illiquid investments will be up for sale in no time.

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