The Economic Collapse – by Michael Snyder
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. As I have discussed previously, one survey found that 2020 was a “personal financial disaster” for 55 percent of all Americans. 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. Continue reading ““655 people have $4 trillion in wealth. 200 million can’t cover a $1000 expense.””