Facebook Slider
Get News Alerts!
Sunday, 13 October 2013 07:46

While the Stock Market Soars to New Records, the 1% Pits the Crumb Rummagers Against Each Other

  • font size decrease font size decrease font size increase font size increase font size
  • Print
  • Email

NNAMDI F. AKWADA FOR BUZZFLASH AT TRUTHOUT

crumb10 13While listening to the radio some days ago in the Washington DC metro area, I heard an interview with an air traffic controller. He was upset that his job might be eliminated. The shocked controller then, paradoxically, expressed his Tea Party right wing leaning support for cuts within the government but wondered aloud why his job should be on the cutting block. This is not entirely unique as corporations and individual members of the elite 1% club have used their tools -- such as the main street media -- to wage regimes of miseducation against public sector workers and to misinform the masses adversely impacted by the greed of the 1%.

So from Cyprus to London England, from Greece to Wall Street America, and from Wisconsin to Ohio there is the renewed 1% mantra to blame the victims of financial gluttony instead of calling out the so-called “makers” (who are really the takers). It works on many, such as the air traffic controller who might lose his federal job but still supports the Tea Party.

These casualties of an unjust economy are perceived as mere collateral damage by those with financial power. Actually, they are systematic byproducts of our national and global economic system. They are depressed, demoralized, dejected and angry -- and become unable to connect the dots between their present jobless or underpaid conditions and the accelerating disparity in wealth. There is a failure to link the corporate jets, CEO bonuses, and offshore accounts to the devastation of gross income inequality and accumulation of wealth.

Ours is a race for the crumbs of miserly benefits that greedy elites toss our way. We are swift in condemning homeowners who lost their homes in loan mortgage crises without realizing that they were the pawns of the banking cartels and/or turning a blind eye to the financial scams of banks and financial institutions too-big-to-fail.

Consequently, even in Europe we are presented with unimaginable dichotomies. For example, there are more Portuguese and Spaniards heading to Angola than at any time since the global slave trade economy. Amidst the petroleum wealth and boom in Luanda no one questions the Europeans for their workering permits. But in Europe and America, it is easier to pick on the foreigners instead of organizing against those forces from within that specialize in setting up tax havens, shipping jobs around the globe to pay the lowest cost, and reaping astronomical profits. In the US, there is an open call among corporations and the financially privileged to move money and investments abroad; whereas urban and rural unemployment and low paying jobs become a structural reality with the ensuing societal cost.

The race to the bottom is facilitated by Tea Party Republican politicians. Paradoxically, they represent -- in many congressional districts -- those whites most negatively economically affected by the increasing concentration of wealth in so few hands. As such, we see the success of a strategy to divide the masses and keep them fighting themselves; for example, poor whites in America against African-Americans and Latinos, and African Americans against immigrants.

Whilst they keep us bickering and competing for the lowest common denominator, the soaring Dow Jones and other leading financial marketers are creating relatively few jobs, depressing wages, gambling with the savings and retirement incomes of folks, forcing municipalities into bankruptcies, but making record earnings for the economic/financial gurus and members of the exclusive 1% privileged club. These entitled classes would rather hoard money and property to enrich centuries of their descendants, while so many in the US are economically struggling and the global economy is threatened with chaos.  

(Photo: ya/sin)