The Story Of Inequality In The US: Past, Present And Future

Tyler Durden's picture

In this far-reaching documentary, we are first treated to a history lesson from the early 80s to the present day - a story of lust, debt, and largesse; from Reagan deficits to cell phones to day trading to real estate... and then 2008 is explained (as reality started to peek through). The clip projects the next few years - from failed bond auctions to QE9 and social unrest - "but it doesn't have to be this way," the narrator notes. Breaking Inequality is a documentary film about the corruption between Washington and Wall Street that has resulted in the largest inequality gap in the history of America.

It is a film that exposes the truth behind the single event that occurred back in the early 70's that set us off on this perilous journey that we are currently on. The inequality gap is presently the worst that it has ever been and there is no solution in place to repair this crippling problem.

No country in the history of the world has ever remained a super power without a middle class and the road we are currently traveling doesn't include this all-important segment of the population. The old saying "As goes the middle class... so goes the nation" holds true even more today than ever.

We live in a world where governments can create as much money as they want in order to fund all kinds of wasteful projects, wars, handouts, and banker bailouts. The current system by design has transferred the wealth from average everyday Americans to an elite few who care not about the majority.

We have to change our destiny or the middle class will cease to exist in the United States of America.

Breaking Inequality exposes the truth behind the root of the problem and it provides a solution to help end it - starting at around 17:00

Spend 28 of your hard-earned minutes to understand how we got here, why any future predicated on the past is untenable, and what the solution could be...


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stinkhammer's picture

"All I need are some tasty waves, a cool buzz, an' I'm fine."

AlaricBalth's picture

That stinkhammer's been stoned since third grade.

BigDuke6's picture

On topic

has slewie the pi-rat been seen lately?

 

James_Cole's picture

Very nicely done doc, disagree on the gold standard but good stuff. 

The increase in fed debt laid over historical events was great. 

francis_sawyer's picture

"The current system by design has transferred the wealth from average everyday Americans to an elite few who care not about the majority."

~~~

This sentence pretty much repeats the same thing that francis_sawyer drumbeats about all the time [except I'm not so nice as to call them 'elite' ~ I just think they're a bunch of paranoid conniving thieves who have avarice as part of their DNA]... But never forget people... It's bad people like ME that are the problem for exposing this reality [so be sure to shoot the messenger]... If you resolve yourselves to fall in line and not breathe a word about anything, the problem is sure to go away...

Urban Redneck's picture

The problem is that over the same time period, the average everyday American has become a useless eater in search of a free lunch.

A gold standard is responsible money.  However, responsible is not a word I would use to describe the average American, where the blame game has become the national past time.   

duo's picture

The '80's was when the Great Society started to enter it's second generation, e.g., the children borne without any finanical responsibility by their parents started having children of their own.  This has become an exponential function and has done as much to skew the bottom half of the curve as the financiers have done to the upper 1%.

Gazooks's picture

responsibility for national impoverishment was coverd in the vid, Red

 

now blame its unemployed over-indebted victims again 

 

average Americans are duped by both parties

 

corpster funded fraudsters, all

 

gold standard resumes only after next series of global revolutions and wars

 

watch and learn in Sept

Urban Redneck's picture

The problem is that those wars must in the aggregate eliminate those who consume more than they produce.  

Imagine the town or city you live had aggregate wealth of 1000oz of gold.  You can print up scrip to divide up and pass around the 1000 ounces however you want, until the first person wants to get in car that runs on gasoline, of flip on a light switch powered by gas, coal, or nuclear power plant, or even buy something to eat from a farm outside of town.  Now some of your 1000oz leaves that town or city, you can keep passing around the (now less than) 1000oz as long as you want, but in the aggregate everyone is poorer.  The gold standard only works, or even protects wealth, if the gold supply remains relatively constant or increases over time.  

Henry Hub's picture

***has slewie the pi-rat been seen lately?***

My guess is that Slewie has been incarcerated.

Burt Gummer's picture

Fuckin' great documentary, thank you for posting this Tyler's.

 

http://www.youtube.com/watch?v=deuC8GPr31A

max2205's picture

Maybe add a line for avg govt workers inc/retirement.  There fixed it

lordbyroniv's picture

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair…

Buck Johnson's picture

Amazing, but we are really going to feel it and that is for sure.

Seasmoke's picture

So I can't tell from the chart. Did the 1% hit the million mark. I really hope they did. Would suck to be so close.

Croesus's picture

I started drooling @ 18:29.......all that yummy gold.....

JimS's picture

...... and your point is................. you can eat paper?

Parrotile's picture

The problem with ZH overreliance on PMs is that if you ever NEED to trade your PMs for a service or item / asset you NEED, you will also need to trade either with someone who is willing to accept your PM as "payment", or via an intermediary.

What happens if no-one wants your PMs (at a "value-point" that is acceptable to you)? What happens if in some dystopian (but not unlikely) future the "most favoured asset class" turns out to be useful skills (and not those involving excellence in transferring "money" from place to place whilst skimming your "rightful reward" along the way)?

Putting all one's eggs in the one basket does not make for sensible investment strategy, no matter how you spin it.

Gumbum's picture

And why would owning a bit of gold take anything away from your skillset?

Parrotile's picture

There is a manifest difference between some, and over-reliance. The constant meme on ZH seems to be "Gold, Guns 'n' Ammo".

There are other stores of value, you know!

francis_sawyer's picture

Parrotile ~ stop being a doofus...

~~~

Sure there are other stores of value... Expensive cars, furs, classic artwork & antiques, fine wines, etc... But the Gold, Guns, Ammo [add food, booze, & medical supplies to that] meme is for 'ordinary folk'... Let me take a wild guess & assume you're NOT in the category that's going to diversify your wealth by buying Lambo's & Picasso's...

The giveaway?... You're talking 'SKILLSET'... If you're rich, you most likely either have no skill set, [because all you've ever done in your life is pay people who have skill sets to do things]... Or ~ if I'm incorrect about that, then might I suggest that your fastest 'learning curve' will be to start turning tricks...

exi1ed0ne's picture

Go to a farmers market and offer to trade a silver round for food.  Do it now before the poxyclipse, and $30 is a small investment for a bit of fun.  I guarentee you'll be suprised at the results.

Unfortunately there are very few unencumbered assets left to invest in, and those are dwindling by the hour.  Gold and silver for savings preservation and barter, but that will only last as long as your supply.  It is a stop-gap.  Just as valuable are tools and books for knowledge preservation, canned food/garden for family preservation, guns to keep it all relatively secure.  Honestly, most of what is considered "prepping" today was just common sense even 50 years ago. 

LaurentDeLyon's picture

no, you can't eat paper, too logic! great knock out !

Diogenes's picture

"...... and your point is................. you can eat paper?"

You can't eat paper but you can wipe your ass with it.

Croesus's picture

If people saw me in action, they'd stop saying that.

reader2010's picture

Study shows even monkeys demand equality.

 

http://youtu.be/meiU6TxysCg

Urban Redneck's picture

Only a monkey would demand equality in the first place.

Now swallow your blue pill with a red pill paint job, like a good monkey.

Ghordius's picture

aren't we all a species of monkeys (I know, I know, Darwin is not everyone's hero here)?

personally, I do demand equality. in front of the law, for example. knowing as a fact that having the dough for the right shyster makes all the difference between being imprisoned or getting free is not the kind of environment that I like

not that I think this equality has ever been reached, but it's not the worst ideal to aspire to, imho

having said that, wealth equality (what this article is about) is probably the silliest to ask for and perhaps the most unachievable of all goals, so I fundamentally agree with you

Bearwagon's picture

Wouldn't equality before the law be a fairly good start?

Hacked Economy's picture

I'll go one further...how about justice?  Instead of today's Courts of Law, we return to yesteryear's Courts of Justice?  The text of many laws allows a District Attorney to prosecute you for just about anything, because there are so many laws and so many traps.  But are the majority of convictions just and fair?  I learned from my attorney (and this was collaborated by others I spoke with in the court system) that about 80% of all cases within the state of Kalifornia never go to trial because they end in plea bargains.  The liberalcrats in Sacramento make a ton of unnecessary feel-good laws to make themselves look good for the news cameras, the police arrest everyone for their "violation" of those laws, the plea bargains are struck because the defendants are "legally" caught between a rock and a hard place, and the DA sees them as easy opportunities to earn some more gold stars next to his/her name for the next November election.  The end result is an over-clogged jail system full of many people who never would have seen the inside of a jail cell 50 years ago.  Our original system of justice has been traded for textual law.  The typical 12-person jury - as a representation of the defendants' peers - no longer has its former ability to reach a decision "justly".  Even they are told by the judge to blindly follow the text of the laws.

booboo's picture

it just ain't fair that some apes missed the evolving train, it's not fair. DAMN YOU DARWIN, YOU FILTHY MAN APE!!

shovelhead's picture

I don't care much about financial equality because marketable skills have various prices.

I just want them to turn off the vacuum.

Urban Redneck's picture

I was thinking about "equality before the law" when I wrote that, but came to conclusion that is a specific case, and it is meaningless without first establishing Rule of Law, as equality, by definition, is a fiction in the environment of the Rule of Men.  

newengland's picture

The exceptionalism of the Republic of the USA which is much lauded and much hated by the masters of the old world and the new world order in the making focuses on this:

'No country in the history of the world has ever remained a super power without a middle class and the road we are currently traveling doesn't include this all-important segment of the population. The old saying "As goes the middle class... so goes the nation" holds true even more today than ever.'

This is fact, and this is why the old money masters buying CONgress are determined to make the USA its new feudalist pawn in the great game of globalism.

End the Fed. End Monarchy. End the Vatican. All 3 haters.

Defend the Constitution, the Declaration of Independence, the original Bill of Rights.

These gifts are for the citizens of the USA, not foreigners who must prove their worth and await their turn to be admitted as citizens - and be deported immediately upon infringing our laws or offending our customs.

Israel is a foreign country, and dual passport holders who pledge their allegiance to Israel or any other foreign nation are NOT worthy of the gifts due to a loyal American.

Harlequin001's picture

'These gifts are for the citizens of the USA, not foreigners who must prove their worth and await their turn to be admitted as citizens'

What a load of bollocks. You're all squatting foreigners unless you are native Indian. What are you going to do now, fuck off and give it back to them? Didn't think so.

Perhaps we should amend your statement to read 'and be deported immediately upon infringing our laws or offending our customs that we have already forceably imposed on others.'

newengland's picture

Silly person. By your flawed thinking, everyone would be in no man's land. Native Americans fought each other, and whitey was just another battle...lost.

See Africa and the Middle East for an exemplar of your flawed thinking; tribalism is most hateful, and certainly nothing to be admired.

NoControl's picture

It's been said, and I believe it to be true, that really only those who come from abroad can treasure the remaining rights Americans now take for granted.

Those who have lived under authoritarian regimes, dictators and one party "republics" - and have come to the US seeking a better life - would be the first to see those half-forgotten evils encroaching here.

They see what is happening while the majority of your fellow Americans are in a trance;  stupefied with puppet shows and force-fed illusions.

Too bad you see them as the enemy.

Taking yer jerbs.

newengland's picture

U.S. citizens are friends abiding by laws and respecting each others customs in theory and often in practice,  in my opinion. Foreigners pledge allegiance to foreign powers. Foreigners can be trade partners, and tourists;a different sort of respect applies; self-determination is a good thing. Equal, but different. Each to their own in their own country.

Harlequin001's picture

'U.S. citizens are friends abiding by laws and respecting each others customs in theory and often in practice,  in my opinion.'

The naivety is staggering, and the bullshit somewhat overpowering...

Parrotile's picture

If "EBT Forevah"" ever runs out, we'll soon see just how "friendly" the "Free Shit Army" are.

I suspect the veneer of civilisation will wear very thin, very quickly . . . . .

AnAnonymous's picture

By your flawed thinking, everyone would be in no man's land. Native Americans fought each other, and whitey was just another battle...lost.
_____________________

Then the current battle is just another battle lost.

But hey, 'americans' are 'american'. When the cream turned up to themselves, it must taste different.

shovelhead's picture

Indians are just unhappy Chinese citizenism on original 'Long March'.

faroffthunder's picture

"On this land, I am torn. Part of me wants to fight and repel all outsiders. The other part of me is the outsider."

Ghordius's picture

probably the silliest comment in this silliest of articles. where to start... ah, "No country in history..." seriously? swallowing bait, hook and sinker? Without going into serious history back to the Assirian and Egyptian empires, how about a recent superpower like the Soviet Union? Where was the middle class, there?

but the first prize goes today to "End the Fed. End Monarchy. End the Vatican. All 3 haters" - thankfully you don't hate what you don't know and understand, eh?/s

the second prize goes to "the old money masters buying CONgress are determined to make the USA its new feudalist pawn in the great game of globalism"

wake up, the power of the old money masters, the old US WASP elites, the top 10'000 families, is still ebbing

sociologically and politically the US is led by a new elite, and a very broad one in comparison to earlier times, about 5-6m strong. the "upper middle class", which does not have the same paternalistic attitudes versus the lower and middle middle class as the old upper classes had

meanwhile a lot of the "exceptionalism" of the US middle classes - if you really want to make comparisons with the rest of the world - has to do with how housing has been subsidized since the 50's... by the state. without the FED, the USD as global reserve currency, Fannie, Freddie and endless laws supporting housing the history of the US middle classes would have been utterly different - and middle class housing would be 30% less worth, at least

this is only the second great wave of globalism - the first one was under the British Empire. do lern some history, newengland et al, you obviously have only a distorted view of your own and for sure you have no idea about the rest of the world

Sandmann's picture

Ghordius, the USSR had a Middle Class. It was the Apparatchik Class and the Jewish technocrats and KGB Officers, the Factory Managers and the Army Officers. It was Nomenkatura and those who serviced them.

If you read The Jewish Century by Yuri Slezkine you can see clear examples and how their revolt against the Party brought down the USSR when they found Israel and the USA offered ffar better prospects for their class.

Milovan Djilas wrote The New Class to describe the situation in Yugoslavia, the West's favourite Communist tyranny.

There is a clear case that the Middle Class make Revolution to topple the Rich. The USA is an Oligarchy run for the interests of select few in defined zipcodes. It has impoverished the Middle Class and pursued a Marxist obsession with destroying their values and families.

Most Western politicians today are Marxist in orientation if not in belief. They despise Middle Class values because ultimately the Oligarchs of Capitalism and the Oligarchs of Socialism want the same thing, absolute power over the population and obeisance

 

 

Ghordius's picture

Sandmann, you can't call them seriously a Middle Class - they had no independency from the Ruling Class, neither in financial nor in power terms. seen this way the only middle class that the USSR had was whoever cultivated an "own" plot (and fed the nation in the process)

in fact if you look more closely to why the USSR collapsed, the main reason was a lack of resolve at the top, not in the middle - though I do agree on some of Milovan Djilas's points - in the context of Yugoslavia only, though

"The USA is an Oligarchy run for the interests of select few in defined zipcodes" and how many people are in those zipcodes? there we go back to my 6m - at which point the whole concept of Oligarchy is perhaps still barely valid but runs a bit thin, imho

a typical Under/Middle/Upper Class is from a sociological point of view, a series of devides according to Pareto/Power Laws, i.e. a first devide between 80% of the pop and the 20% above them, and then again 80/20, meaning that a middle class is usually less than 20%

the US enjoyed a great "special, uncommon and unique" swelling of the "Middle Class" by the above mentioned subsidies in savings through housing more than the "Middle Class Values" you are pointing to, which don't really convince me. Doesn't the iconic freshly landed worker willing to wash dishes while dreaming of owning a house, a car and perhaps a business often show more of those values than the tenured professor of an Ivy League college? Yet he is, for all purposes, still a partecipant of a Lower Class, aspiring to reach the Middle Class in indipendent wealth, political power and status, the attributes of class devides

I know, I know, this is not the American Way of looking at it, mainly because it takes the "Exceptionalism" aura away - perhaps I should refrain from making those comments than it takes ages just to agree on the terminology... nuff said