Monday, January 18, 2021

Tag: the Bottom 60% Lose their Livelihoods and Lives

While the Top 10% and the Fed Cheer Stocks Rebounding, the Bottom 60% Lose their Livelihoods and Lives

by Charles Hugh Smith, Of Two Minds:

If you have any doubt that the Fed and Wall Street will some day be dismantled, please re-read this “real life in America” list again.

The pandemic is a stark, brutal spotlight on income/wealth inequality in America: while the top 10% who own the majority of the nation’s wealth cheer the Federal Reserve’s relentless pimping of the stock market, the bottom 60%–America’s vast underclass of low-paid, marginalized, gig-economy, Amazon warehouse precarious proletariats (precariats)– are losing their livelihoods and tragically, their lives as the pandemic ravages the ranks of those who cannot work at home and those whose health is impaired by the ceaseless struggle to survive in Unequal America.