Outside the bubble of wealthy, protected elites that generate the statistics and the "news," the global economy is completely, totally neofeudal--and so is the American economy. What does neofeudal mean? It refers to a two-tiered socio-economic system in which an aristocracy owns the vast majority of the wealth and collects the lion's share of the income, and uses this financial dominance to buy political and narrative dominance.
In a neofeudal arrangement, the machinery of governance protects and enforces elite dominance. Cartels and monopolies have free rein to price-fix and exploit, tax revenues flow freely to cartels, elite organizations such as family trusts get tax breaks, and so on.
In other words, "the market" is rigged and the government maintains the status quo.
Toiling away to enrich the aristocratic owners of capital are the serfs and peasants, who own a tiny shred of income-producing capital. Their primary assets--the family home and vehicles--are actually income streams for the wealthy who collect the mortgage and auto-loan interest paid by the serfs.
The core dynamic in neofeudalism is the already-wealthy increase their share of the wealth, and everyone else sees their meager share diminish. https://www.oftwominds.com/blog.html
Outside the bubble of wealthy, protected elites that generate the statistics and the "news," the global economy is completely, totally neofeudal--and so is the American economy. What does neofeudal mean? It refers to a two-tiered socio-economic system in which an aristocracy owns the vast majority of the wealth and collects the lion's share of the income, and uses this financial dominance to buy political and narrative dominance.
In a neofeudal arrangement, the machinery of governance protects and enforces elite dominance. Cartels and monopolies have free rein to price-fix and exploit, tax revenues flow freely to cartels, elite organizations such as family trusts get tax breaks, and so on.
In other words, "the market" is rigged and the government maintains the status quo.
Toiling away to enrich the aristocratic owners of capital are the serfs and peasants, who own a tiny shred of income-producing capital. Their primary assets--the family home and vehicles--are actually income streams for the wealthy who collect the mortgage and auto-loan interest paid by the serfs.
The core dynamic in neofeudalism is the already-wealthy increase their share of the wealth, and everyone else sees their meager share diminish. https://www.oftwominds.com/blog.html
https://confoundedinterest.net/2023/09/06/bidenomics-101-hand-to-mouth-61-of-americans-living-paycheck-to-paycheck-with-unsustainable-debt-levels-up-19-4-under-biden-50000-u-s-stores-likely-to-close-by-end-of-2027/