“655 people have $4 trillion in wealth. 200 million can’t cover a $1000 expense.”
The COVID pandemic has caused the gap between the ultra-wealthy and the rest of us to grow larger than it ever has been before. Thanks to the hyperinflationary policies of the Federal Reserve and our politicians in Washington, stock prices have soared to unprecedented heights in recent months.
This pushed the wealth of the uber-rich to dizzying heights, but for the rest of the country, 2020 was an unmitigated nightmare.
More than 110,000 restaurants shut down permanently last year, Americans filed more than 70 million claims for unemployment benefits, and tens of millions are potentially facing eviction in 2021.
But even though we are mired in the worst economic downturn since the Great Depression of the 1930s, those at the very top of the economic pyramid are laughing all the way to the bank.
The economic pyramid only increased their wealth in 2020 because the powers that be decided to open up the firehoses and rain obscene amounts of money on them.
As a result of the deeply flawed policies that were implemented because of the COVID pandemic, the gap between “gains in financial assets and the health of the economy” was the largest ever recorded last year.
The Dow is sitting just above 31,000, and that is utterly absurd.If the Dow were to fall to 15,000 it would still be overvalued.
Meanwhile, a brand new survey has discovered that only 39 percent of all Americans “would be able to cover an unexpected $1,000 expense”. If only 39 percent of Americans currently have enough money for such an unexpected expense, that means that 61 percent of Americans do not.
According to Google, the current population of the U.S. is 328 million, and 61 percent of 328 million is just over 200 million.
The COVID pandemic continues to get even worse, new lockdowns have been instituted all over the country, our federal government is in a state of chaos, and there will inevitably be more rioting, looting and civil unrest in the months ahead.
