As we previously noted, there is a David VS. Goliath uprising going on in the stock market, today as populists begin an assault on Wallstreet elites. We do not know the final outcome of this uprising and nothing goes up forever. But, what has them so riled up?
The markets were already rigged prior to the Covid19 pandemic. However, Wallstreet and Big Government engineered the Covid19 pandemic response to usurp the greatest amount of power and wealth in America’s history in just a few short months.
Due to globalists and leftists in Wallstreet and government–and accelerated by their lies and lockdowns surrounding Covid19, America is experiencing the largest transfer of wealth in its history while inequality has risen more in the last 6 months than in America’s entire history and poverty is the highest it has been in over half a century.
Back November of in 2019, Forbes was already reporting on the problem:
“Over the next two decades, the United States will experience an unprecedented shift of demographics and finances that will likely be felt by every American.
Baby Boomers, the generation of people born between 1944 and 1964, are expected to transfer $30 trillion in wealth to younger generations over the next many years. This jaw-dropping amount has led many journalists and financial experts to refer to the gradual event as the “great wealth transfer.”
In no prior time in the history of America has such a vast amount of wealth moved through the hands of generations….”
…After decades of prosperity and economic growth, this generation amassed significant financial wealth and control roughly 70% of all disposable income, according to a 2015 report by US News & World Report.
They go on to note that “nearly 35% of adults between the ages of 18 and 35 live at home with their parents, according to 2017 data”
This appears to have gotten much worse. As of September 2020, at least 52% of people 18-29 now live at home with there parents. While the statistics are not identical, the newer data does suggest a dramatically negative evolution of the data and is the worst it has ever been since The Great Depression.
Forbes states that one thing driving this, aside from terrible government policies, is terrible public schooling related to financial literacy:
“According to a 2018 study by TIAA Institute, only 11% of Millennials displayed a “relatively high” level of financial literacy, with another 28% of the group conveying a “very low” literacy rate in finances. Gen-Xers don’t fare much better, with industry estimates showing struggles with spending and saving habits among large swaths of this generation. “
And, all of this was prior to The China Virus and the damning response by globalists who are engineering disastrous global Covid response and recovery plans around The Great Reset. The great Reset, as we have previously mentioned, is a plan defined by The World Economic Forum and global elites to destroy all old forms of government. These governments will be superseded by a global authoritarian governance structure in which nations, privacy, and individualism matter a lot less–perhaps not at all. Chine will be the leader of this new world order along with a handful of subordinate nations. It will also require that wealth–including much of the land, is transferred to elites as well.
Part of that plan is increasing the amount of wealth among elites while devastating the wealth of the poor and middle classes.
Now, in 2021 Zerohedge discussed a report from Bloomberg detailing the largest rise in poverty in over 50 years during the disastrous globalist Covid19 responses taken in lock-step around the globe:
“The end of 2020 brought the sharpest rise in the U.S. poverty rate since the 1960s, according to a study released Monday.
Economists Bruce Meyer, from the University of Chicago, and James Sullivan of the University of Notre Dame found that the poverty rate increased by 2.4 percentage points during the latter half of 2020 as the U.S. continued to suffer the economic impacts from Covid-19.
That percentage-point rise is nearly double the largest annual increase in poverty since the 1960s. This means an additional 8 million people nationwide are now considered poor. Moreover, the poverty rate for Black Americans is estimated to have jumped by 5.4 percentage points, or by 2.4 million individuals.
The scholars’ findings put the rate at 11.8% in December. While poverty is down from readings of more than 15% a decade earlier, the new estimates suggest that the annual Census Bureau tally due in September will be higher than the last official, pre-pandemic level of 10.5% in 2019.”
And while the leftists and globalists always claim to be on the side of minorities, they always end up disproportionately destroying their lives the most with their policies in the long run:
“Black Americans were more than twice as likely to be poor as their White counterparts in December — an improvement from the summer months when they were nearly three times more apt to live in poverty — but an increase from before the pandemic, when the differential was under 2.”
The response to Covid19 in America, designed by the leftists and globalists in Congress not President Trump, destroyed all the historic gains in the black community that President Trump had made the previous three years as president.
Do you really think the next behemoth Covid Relief package–designed by perhaps the worst people in America who work in Congress, that will likely be at 2 Trillion dollars or more will in any way be beneficial to minorities or any Americans in the long run?
As Ronald Reagan once said, “The nine most terrifying words in the English language are ‘I’m from the government and I’m here to help’”