Class Warfare Blog

April 7, 2021

And Now You Know Why the Rich Defend the Status Quo

This blog was named the Class Warfare Blog for a reason. I will be renaming it because that war is over . . . and we lost. If you weren’t paying attention, the status quo ante just prior to the worldwide COVID-19 pandemic that is threatening millions of jobs and millions of people’s lives has resulted in tremendous wealth gains for the very rich.

Form an article in The Guardian on Forbes magazine’s latest list of billionaires:

“Forbes annual billionaire poll includes a record-breaking 2,755 billionaires, with Amazon founder Jeff Bezos once again topping the list. Elon Musk, zoomed into second place with a $151bn fortune, up $126.4bn from a year ago, when he ranked No 31 and was worth “just” $24.6bn.”

“Elon Musk, zoomed into second place with a $151bn fortune, up $126.4bn from a year ago.”

“Together the plutocrats added $5tn to their wealth for a combined fortune of $13.1tn, up from $8tn on the 2020 list. A record 493 people joined the list this year – one new billionaire every 17 hours. The majority, 205, were in China. But the gains were widespread with gains across the world.”

“But it was the incredibly wealthy who made the biggest gains. The 0.001% did even better than their lesser peers. The top 10 richest people on the list are worth $1.15tn, up from $686bn last year.”

Gee, do you think the time is ripe for a wealth tax? Well, that won’t happen because the very rich own our Congress. Every fat, white ass in a seat in Congress knows which side of the bread the butter is on and will not betray their rich paymasters.

“ . . . up $126.4bn from a year ago.”

And as I continue to remind you, to spend a billion dollars in any year, one has to spend $532,000 per hour of every working day, of every work week of that year. For Elon Musk to spend off half of his gain from the past year, he would have to spend $33,000,000 every working hour of every working day of a year.

The flaw of capitalism is that there is no limit upon greed. The only check on greed is from governments and people power (labor unions, mostly) and the rich have defanged labor unions and captured the government. So, Gordon Gecko has proved to be a prophet: Greed is Good, at least for now.

5 Comments »

  1. A billion dollars for one person is simply obscene. One-thousand-million dollars.

    (writing a story right now where everyone is paid for just living because their data is what the mega-corps want)

    Like

    Comment by john zande — April 7, 2021 @ 9:02 am | Reply

  2. That so much of the resources of this world are concentrated in the hands of so few people, while hundreds of millions of people can’t even feed their own families is obscene. And unfortunately we have allowed our government to turn into an organization that seems to exist for no other reason than to permit these few people to accumulate ever more wealth.

    Liked by 1 person

    Comment by grouchyfarmer — April 7, 2021 @ 5:41 pm | Reply

    • Yeah, with a pay-as-you-go culture, the rich have more things they can afford to pay for, like Congressmen, than we do.

      On Wed, Apr 7, 2021 at 5:41 PM Class Warfare Blog wrote:

      >

      Liked by 2 people

      Comment by Steve Ruis — April 7, 2021 @ 9:37 pm | Reply


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Create a free website or blog at WordPress.com.

%d bloggers like this: