If you wish to understand the neofeudal reality, study these charts.
If you listen to standard economists, whatever’s rosy: thanks to the growth of alt-energy like wind and solar, energy is getting less expensive, batteries will power the new global economy, we’re getting smarter– simply look at the rising number of innovative college degrees, salaries are finally growing, inflation is trending down, household balance sheets and corporate revenues are strong, financial obligation loads are not a concern yet and GDP is rising.
All this happy news is backed by data, obviously, but there’s one little issue: all the conventional cheerleaders are residing in a bubble of like-minded elites who are insulated from the neofeudal realities of life in the real life.
Outside the bubble of rich, safeguarded elites that generate the data and the “news,” the worldwide economy is totally, completely neofeudal– therefore is the American economy. What does neofeudal mean? It refers to a two-tiered socio-economic system in which an upper class owns the vast bulk of the wealth and gathers the lion’s share of the earnings, and utilizes this monetary dominance to buy political and narrative supremacy.
In a neofeudal arrangement, the equipment of governance safeguards and implements elite dominance. Cartels and monopolies have unlimited freedom to price-fix and make use of, tax earnings circulation easily to cartels, elite companies such as household trusts get tax breaks, and so on.
In other words, “the market” is rigged and the government maintains the status quo.
Laboring away to improve the noble owners of capital are the serfs and peasants, who own a tiny shred of income-producing capital. Their primary properties– the household home and automobiles– are actually earnings streams for the wealthy who gather the home mortgage and auto-loan interest paid by the serfs.
The core dynamic in neofeudalism is the already-wealthy boost their share of the wealth, and everyone else sees their meager share lessen. As the charts listed below show, the large majority of financial gains created by the US economy flow to the top 0.1% of homes. The leading 1%’s share has actually increased by 40% while the bottom 50%’s share of the wealth has actually slipped to 3%– basically signal sound.
Social mobility is restricted to the occasional serf clawing their way into the technocrat class, the top 5% who slavishly serve the interests of the monetary upper class. This class resides in a self-contained, protected bubble: an echo chamber of opportunity, domestic enclaves, jetting all over the world, and so on: whatever’s great due to the fact that we’re doing excellent.
Life is excellent in the bubble since there’s no homeless encampment a block away, there’s plenty of money coming in and our wealth– 401Ks, acquired bonds and rental home, university pensions, corporate stock options, and so on– increases wisely, year after year and years after years.
That all this wealth growth is the result of unmatched reserve bank intervention is left unsaid. As kept in mind above, the role of the state and reserve bank is to preserve the status quo of the already-wealthy increasing their share of the national wealth and income, and filling more (really rewarding) financial obligation on the serfs. (See trainee loan debt chart below.)
Outside the technocrats’ fortunate bubble, wages’ share of the economy have actually been stripmined by the upper class for 45 years. Oh dear; could this be why I’m having such difficulty discovering low-wage trustworthy “aid”?
While incomes inch up, costs of shelter, energies, financial obligation, cars, public transport, child care and other basics soar. Please glance at the chart of earnings and leas below. This is neofeudalism in a nutshell. Salaries have flatlined (or fallen when measured in acquiring power) while rent has gradually increased, gnawing at the serfs’ non reusable income.
Inside the technocrat class bubble, whatever’s wunnerful. AI will improve earnings (all of which circulation to the aristocracy, so that’s wunnerful), energy’s getting less expensive and more plentiful, and so on.
Oh, wait. Alt-energy only looks low-cost due to the fact that all the full lifetime expenses have actually been disregarded (i.e. externalized), and these modest additions to our large hydrocarbon consumption aren’t in fact changing hydrocarbons, they’re just adding more energy for us to take in.
To put it simply, conventional financial experts and the other technocrats maintain their fortunate bubble by holding on to a delusionally disconnected-from-the-real-world frame of mind. There’s constantly a multitude of scholastic documents or think-tank/ corporate reports to boost the inside-the-bubble confidence that whatever’s terrific, because producing favorable stories that leave the neofeudal structure unblemished in the main market of the technocrat class.
If you wish to comprehend the neofeudal truth, study these charts. There are no defenses, there are only sputtering obfuscations: b-b-but the objective to Mars! Taylor Swift generated a billion dollars! OnlyFans pulled in $5 billion! Stocks are rallying! Whatever’s excellent!
Sure– if your dosage of Delusional is high enough. Then you can go back to complaining about air travel hold-ups, discovering somebody to repair your swimming pool pump and bragging about how well your financial investments are doing.
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