The Structural Endgame of the Fiscal Cliff
From Chris Martenson Blogs
December 26, 2012 - 1:51pm
To understand this endgame, we need to start with the financial and political basics of wealth and power in the U.S.
1. Wealth and thus political power are highly concentrated. The dynamics of rising wealth disparity and the increasing concentration of wealth are debatable; the disparity is not. Roughly 70% of all financial wealth is held by the top 5%; within this top layer of ownership, the top ½ of 1% hold an outsized share.
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