Wed SEP 19 18
SIT EC y POL
ND denounce Global-neoliberal debacle y
propone State-Social + Capit-compet in Econ
ZERO HEDGE ECONOMICS
Neoliberal globalization is over.
Financiers know it, they documented with graphics
If
we want to understand wealth and income inequality, we can start with the data point that 63% of
all capital gains flows to the top (those earning $1 million and up)...
That changes our perspective on the wonderfulness of ever-expanding
household wealth.
The
assets of U.S. households recently topped $100 trillion, yet another sign that
everything is going swimmingly in the U.S. economy. Let's take a look
at the Federal
Reserve's Household Balance Sheet, which lists the assets and
liabilities of all U.S. households in very big buckets (real estate: $25
trillion). (For reasons unknown, the Fed lumps non-profit assets and
liabilities with households, but these modest sums are easily subtracted.)
If we look at the numbers with a
reasonably skeptical view, we start wondering about aspects that might have
previously been taken as "facts" that were above questioning.
For
example, households hold $11.6 trillion in cash (deposits). That's unambiguous.
So is the $29.3 trillion in stocks (owned directly and indirectly, i.e.
retirement funds, etc.).
But what
about the $16 trillion in "other financial assets"? This isn't cash,
stocks, bonds, retirement funds or noncorporate businesses--then what is it?
Offshore banking?
That $16
trillion is equal to all homeowners' equity (real estate minus mortgages). It's
a non-trivial chunk of the $100 trillion in net assets everyone is crowing
about.
I also
wonder about the valuation of noncorporate businesses--small family businesses,
LLCs, sole proprietorships, etc.-- $11.9 trillion. How do you value a business
that's hanging on by a thread? Or one that's a tax shelter?
We know
from other sources that roughly 85% of all this wealth is held by the top 10%
of households. This isn't included in this balance sheet, but without those
statistics, these numbers lack critical context: if household wealth is
soaring, that sounds wonderful. But what if 95% the gains are flowing to the
top 5%, and within the top 5%, mostly to the top .1%?
IRS data from
tax returns are one of the most reliable sources of financial data because
there are stiff penalties for not filing accurate returns, and there are no "adjustments" or massaging of the
statistics: they are what they are.
Here's the primary page with numerous
Excel spreadsheets for download: Individual
Statistical Tables by Size of Adjusted Gross Income.
Adjusted Gross Income is reported on line
37 on Form 1040, income after major deductions such as moving expenses,
self-employed health insurance, etc.
Each spreadsheet is a trove of
information on wealth and income--distribution, inequality, sources of income,
etc.
Consider Returns
with Income or Loss from Sales of Capital Assets Reported on Form1040, Schedule
D. This spreadsheet consolidates all tax returns that reported capital
gains or losses.
Out of 150 million total individual tax
returns, 11 million reported capital gains/losses, and 9.3 million were taxable
returns.
1.26 million taxpayers reporting adjusted
gross income of between $50,000 and $75,000 (middle-middle class) reported
average capital gains of $6,187.
3 million taxpayers reporting adjusted
gross income of between $100,000 and $200,000 (upper-middle class) reported
average capital gains of $16,000.
250,000 taxpayers reporting adjusted
gross income of $1 million or more reported average capital gains of
$1,600,000.
So those earning 10 times a middle-class
income of $100,000 reaped (on average) 100 times the middle class average of
capital gains.
It's worth noting that only 6% of tax
returns reported taxable capital gains, and of these 9 million returns, the
lion's share of the capital gains flowed to the top 0.0016% of all returns--the
250,000 reporting incomes of $1 million and higher.
If we want to understand wealth and
income inequality, we can start with the data point that 63% of all capital gains flows to
the top (those earning $1 million and up).
See Chart:
*
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"What this report means is
that the American dream of a modest retirement after a lifetime of work now is
a middle-class nightmare."
See Chart:
The report found that more than 100 million Americans
that are of working age don’t have any retirement account assets in an
employer sponsored 401(k) type plan, individual account, or pension, at all.
See Chart:
The analysis also found that
"a large majority of working Americans" can’t meet a substantially
reduced savings target.
See Chart:
See Figure 5: Working age
individuals with retirement account have three times the income of individuals without
retirement account assets
See chart:
See Additional findings
of the report in the source below
…
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The largest ETF tracking
emerging-market local currency bonds saw $169 million in inflows, the most
since June 2017, after losing about a quarter of total assets since early April
according to Bloomberg.
See Chart:
see more interesting charts at:
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US DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete;
it’s full of frauds & corruption. Urge cambio
A
"brazen abuse of power"
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"Trump
is at war with the institutions of the US government. This is
unsurprising: US presidents have invariably been frustrated by the sense that they reign but do not rule..."
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US-WW ISSUES (Geo Econ, Geo Pol
& global Wars)
Global depression is on…China, RU, Iran
search for State socialis+K-, D rest in limbo
"It could be a mutated flu strain or something
else entirely..."
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[[ Who promised what & to whom? Who broke their promises?.. If you answer
those questions you will b able to underst anything in the world.. if don’t you
wont’ mov 1 inch ]]
“If people
keep their promises they can go anywhere in the world... If people break their promises they won’t be able to
move an inch!”
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In the span of America's nearly two-and-a-half
centuries, here's what Trump thinks
was the single worst mistake in national history...
His thought:
“The worst single mistake
ever made in the history of our country: going into the Middle East, by
President Bush,” the president
during his
interview with Hill.TV.
If that is so, then:
The 2nd and
worse mistake was sending more US troops over there, specially to Syria
But the real mistake was and is:
Fostering
neoliberal globalization that only serve the interest of less than 1% of the
global population: those are the billionaires of the world nowadays, while the
rest of the world live in poverty & disgrace. In that 1% are those who directly
profit from manufacturing weapons and creating war abroad to sell them. They
are direct beneficiaries of war crimes & crimes against humanity (a report
said that we already kill more people in the periphery than people killed in
WW2). That neoliberal business is totally immoral and genocidal. That caused the
destruction of entire towns, cities and State-Nation and creates waves of
migrations from South to North. In doing so, our rulers incurred in terrorism
(not to mention the open US-alliance with Muslin jihadists) and our imperial
system became a terrorist empire. That is the real big mistake so far.
This will
be worse if we initiate WW3.. That won’t be a mistake
.. that will be a calculated expansion over the riches of the world and that
will be evidence that insane neo-nazis came back to power. If before we
sanction them with Nuremberg Tribunal, this time many people in the world is
joining to create armed brigades to sentence to death those who directly &
indirectly profit from the neonazi
empire. The call they made in favor of the 5th international, has
nothing to do with Rusia, China, nor anything with Socialist Parties.. (the
idea 5th Internat was created a decade ago by an African, from
Senegal, Samir Amin). Those who practice that thesis are American anarchists
and they make clear that their targets are billionaires (owners & CEOs) who
profit from neoliberal speculation in Wall Street (they mention Forbed magazine
& others, to see the list of them) and they focus also in rulers in power
who elicited wars abroad. The same type of brigades are been organized in East
Europe and South America. So, there will be thousands of mini-Nuremberg trials
against those ‘terrorists of our time’.
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars
& danger of WW3
RELATED 1:
RELATED 2:
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SHOWS RT
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Keiser
Report Stealing
productivity (E1282) Max and Stacy
discuss the ‘win-win’ fallacy in the age of productivity theft. They also react
to news of Amazon patenting a cage for human workers to maneuver safely in
‘robot-only’ zones.
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NOTICIAS IN SPANISH
Lat Am search f alternatives to
neo-fascist regimes & terrorist imperial chaos
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"Hay más hombres idiotas y
geniales que mujeres": Un estudio escandaliza a la comunidad científica Son pocas las mujeres que se infectan con DU en Guerras
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INFORMATION CLEARING HOUSE
Deep on the US political crisis:
neofascism & internal conflicts that favor WW3
Blaming the Victim of Aggression By Finian Cunningham Continue
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US War Strategists: Military Defeats and
Political Success By James
Petras Continue
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'Fort Trump'...In Poland? By Ron Paul Continue
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The West Against the Rest or The West Against
Itself? By Pepe Escobar Continue
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Syria or Southeast Asia: The West Lied, Lies,
and Always Will By Andre
Vltchek Continue
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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that
leads to more business-wars from US-NATO
allies
Russia
Defense Minister: Israel Bears Full Responsibility for Downing of IL-20 Off
Syrian Coast By South Front,
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PRESS TV
Resume of Global News described by
Iranian observers..
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