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"Is The U.S. A Capitalist Democracy Or Oligarchy?" Janet Yellen Doesn't Know

Tyler Durden's picture




 

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

During this week’s Senate hearings, Janet Yellen was asked by Senator Bernie Sanders if the U.S. was a capitalist democracy or has morphed into an oligarchy. While readers of this site already know the answer to this question, which was recently proved empirically by a Princeton and Northwestern academic study, it was still stunning to note her unwillingness to answer the question.

I will give her some credit for not flat out lying about it. She inherently understands that the U.S. is a corrupt, shameful oligarchy, but as head of the institution most responsible for this transformation she simply cannot tell the truth. It is incredible that things have fallen so far that a U.S. Senator felt compelled to ask such a question, and even worse that such a powerful official couldn’t vehemently and decisively deny the claim.

Where I take exception with Sanders, is that he appears to live under some strange sort of hypnosis that makes him think only Republican oligarchs are problematic. Of course no sane person should draw any serious distinction between establishment Democrats or Republicans. Furthermore, he also makes the mistake of focusing on the 1%, when the real problem resides in a far smaller  0.01%, which I described in my post: Where Does the Real Problem Reside? Two Charts Showing the 0.01% vs. the 1%.

See for yourself:

 

 

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Sun, 05/11/2014 - 07:48 | 4747753 AdvancingTime
AdvancingTime's picture

This line of questioning made me think about the term "Millionaires and Billionaires" often used by President Obama, screams "I have an agenda", the way he uses the term is both offensive and a simplification. Only a crazy person or someone with very little knowledge of money or wealth would think that linking, comparing, and putting the two into the same class has merit.

Over the years the value of the American dollar has dropped. Across America and the world there are millions of working class millionaires. They do not have private planes or servants, they worry about their financial survival and many work far more hours then the average American worker. More on this simplistic phrase intended to anger, split the people, and create a class war in the article below.

http://brucewilds.blogspot.com/2013/02/millionaires-and-billionaires.htm...

 

Mon, 05/12/2014 - 15:24 | 4751843 MeelionDollerBogus
MeelionDollerBogus's picture

"Across America and the world there are millions of working class millionaires."

HAHAHAHAHAHAHA

Tell me another one.

Those workers stuck at 30 or under hours per week will work more if given a chance but are not given any opportunity. They certainly aren't millionaires.

There's no such thing as a "working-class millionaire" because there's no income at a job paying that. That's the realm exclusively of people who get stupidly large bonuses for watching porn at work or moving money where the law says it shouldn't go, then being excused because of their employer from any wrong-doing, unless that person tries to be a whistleblower in which case that person takes the blame or gets a free nail-gun.

Sun, 05/11/2014 - 11:06 | 4748018 CHX
CHX's picture

<<< she's dumb or clueless and believes her "doing right" (like BSB)

<<< she's evil (like BSB)

Sun, 05/11/2014 - 11:10 | 4748030 Vin
Vin's picture

What an idiot.  So Koch billionaires=bad, Bloomberg billionaires=good.  How about this instead.  Stop printing money which transfers wealth to all the billionaires, obey the Constitution which will permit the middle class the freedom it needs to rebuild itself, and hang one-world-govt, commie, fascists traitors.  That might work, you dumbass.

Sun, 05/11/2014 - 11:18 | 4748048 zipit
zipit's picture

Good luck with getting the status quo to go against its own interests.

Sun, 05/11/2014 - 11:20 | 4748052 the0ther
the0ther's picture

Kakistocracy

Sun, 05/11/2014 - 12:32 | 4748187 1stepcloser
1stepcloser's picture

Hail Hydra!  What was the Question?

-Janet

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