The ultra-rich profited immensely on the COVID-19 lockdowns. The world’s billionaires saw their wealth increase by $12.7 trillion or 42%. The richest 10 now possess more wealth than the poorest 40% of humanity combined, reports Oxfam.
The killing of the Western middle class: Yet, what is the situation post Covid-19 for those who are not billionaires, who do not own the media, who are not private donors to the leading politicians and largest NGOs? What are the consequences for the middle class and the poorest among us?
I pose these questions in my latest book, The Billionaire World. How Marxism serves the Elite as I explain how we ended up with an economic system where the ultra-rich elite takes it all, writes Hanne Nabintu Herland, historian of comparative religions, founder of The Herland Report. the article first appeared at Herland’s regular WND column.
WND is America’s largest Conservative network with columnists such as Larry Elder, Ann Coulter, John Whitehead, Joseph Farah, Ben Shapiro, Dinesh d’Souza, Pat Buchanan, Dennis Prager, David Kupelian, Jesse Lee Peterson and most of the leading Conservatives in the United States.
Or as Chairman of the Mises Institute, Llewellyn H. Rockwell, Jr. says in his review of the book, we have a fake kind of capitalism fake kind “in which a few greedy billionaires use the state to gain power and privileges for themselves.”
“These billionaires are willing to enslave humanity to gain their nefarious ends… a domination leads to a totalitarian control over people. People usually think of Marxism as the enemy of the super-rich, but in fact the billionaires and the Marxists are allied to overthrow Western civilization.”
The killing of the Western middle class: As millions lost their jobs, much due to the lockdown strategy which totally crippled the economy for a long period of time, few critical questions were posed in the mainstream media about the economic effects on the lower classes.
It is now estimated that one billion globally could descend into extreme poverty as a direct result of the COVID-19 economic disruption. Researchers from King’s College London, Australian National University, and United Nations University World Institute for Development Economics Research (UNU-WIDER) have published a paper that show horrible figures for the voiceless poor.
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The killing of the Western middle class: A recent Federal Reserve study finds that the bottom 80 % are suffering the most compared to their 2020 status. “We should all be deeply alarmed that the median wage earner brought home just $40,847.18 last year.
That breaks down to about $3,400 a month before taxes. Needless to say, you cannot live a middle class lifestyle in America today on that,” writes author of Lost Prophecies of the Future of America, Michael Snyder.
The UNU-WIDER paper further noted that the cost of the crisis in lost income could reach $500 million per day for the poorest, with the severity of poverty likely to grow dramatically.
While small businesses are experiencing unimaginable hardships, multinational corporations benefit. When smaller bookshops and retail stores go bankrupt, Amazon is set to gain. When traditional coffee shops go broke, Starbucks takes over. When local farmers give up, Bill Gates buys up their land.
“If we stay on the current trajectory, private investment companies will own 60 % of the single family homes by 2030,” says presidential candidate, Robert F. Kennedy Jr. He recently pointed out that: “The working class is now systematically being stripped of their wealth by the corporate elite.”
The U.S. lockdown may have hurt African-American businesses the most. Bloomberg reported a 41% decline in black American small business owners from February to April, 2020.
Donations to BLM were reportedly channeled into Act Blue, a Democrat fundraiser that has given hundreds of millions to white, rich politicians.
The BLM end game as portrayed by the American social pundit, Candace Owens, in the documentary “The greatest lie ever told. George Floyd and the rise of BLM,” tells the sad story of how millions of BLM dollars simply evaporated and never benefitted the poor.
“We were all basically required to donate to Black Lives Matter or make some statement online about how black people are suffering. But nobody asked the question, where’s all the money going?” she said in an interview with Tucker Carlson.
While the ultra-rich have lavish access to the mainstream media loud speakers—which they own—the small business owners and the working class are the losers in the Covid-19 economic assault.
The way the system now works only benefits the rich, admitted the founder of World Economic Forum, Klaus Schwab, recently. Workers’ rights and economic security is evaporating and ruinous tax competitions have enabled massive new global monopolies, he pointed out.
“Not even during the Great Depression of the 1930s did we see anything like this. The big corporate giants with extremely deep pockets will be able to easily weather another round of lockdowns, but for countless small businesses this is literally a matter of life and death”, writes Snyder.
He points to a recent Alignable survey that showed 48 % of U.S. small business owners expected to be shut down permanently as a result of the economic pressure from the chosen lockdown strategy.”
“There seems to be a direct correlation between how much poorer the average man gets and how much richer the billionaires get,” as author Raymond Ibrahim puts it in his book review of The Billionaire World at American Thinker. Sadly so, the billionaire elite are able to manipulate the world.
