Ron Unz, in the American Conservative:
Meanwhile, the rapid concentration of American wealth continues apace: the richest 1 percent of America’s population now holds as much net wealth as the bottom 90–95 percent, and these trend may even be accelerating. A recent study revealed that during our supposed recovery of the last couple of years, 93 percent of the total increase in national income went to the top 1 percent, with an astonishing 37 percent being captured by just the wealthiest 0.01 percent of the population, 15,000 households in a nation of well over 300 million people.
Ed: Note that inflation therefore also makes the poor poorer.
Evidence for the long-term decline in our economic circumstances is most apparent when we consider the situation of younger Americans. The national media endlessly trumpets the tiny number of youthful Facebook millionaires, but the prospects for most of their contemporaries are actually quite grim. According to research from the Pew Center, barely half of 18- to 24-year-old Americans are currently employed, the lowest level since 1948, a time long before most women had joined the labor force. Nearly one-fifth of young men age 25–34 are still living with their parents, while the wealth of all households headed by those younger than 35 is 68 percent lower today than it was in 1984.
Ed: Remember my pop quiz? Which subset of the population tends to start civil wars?
The total outstanding amount of non-dischargeable student-loan debt has crossed the trillion-dollar mark, now surpassing the combined total of credit-card and auto-loan debt—and with a quarter of all student-loan payers now delinquent, there are worrisome indicators that much of it will remain a permanent burden, reducing many millions to long-term debt peonage. A huge swath of America’s younger generation seems completely impoverished, and likely to remain so.
China’s Rise, America’s Fall
That’s just the tidbit I thought would be most interesting on its own. The article is long and filled with juicy encephalonalia. For instance, Steve Sailer was interested in the segment about the media being all hush-hush when Vioxx killed thousands of Americans and got off pretty clean. I hadn’t even heard of that.
But then, we both have our pet interests.
Speaking of interests, I’d like to note that I don’t support the eventual American revolution for a number of reasons. For one, I have no good reason to stick my neck out when I don’t influence anyone anyway. For another, I have no rational reason to stick my neck out when the dumb masses get around to the idea. I’d rather let them fight my battles for me. For another, I don’t identify as American anymore, so the issue is purely mind-candy. Enjoyable, but not good for my health. For another, a revolutionary government formed by brutes will be far worse than the kleptocracy we observe today.
I could go on.
If this were fiction, I’d accuse the writers of going overboard on the causes that will eventually cause the upheaval. It’s like our major institutions and corporations are acting deliberately and coherently to produce as much bloodshed as possible. Doesn’t it almost seem like something out of the Ender’s Shadow series? Or Final Fantasy, much less?