By Michael Snyder | The Economic Collapse Blog
The global economy is structured to systematically funnel wealth to the very top of the pyramid, and this centralization of global wealth is accelerating with each passing year. According to the United Nations, 85 super wealthy people have more money than the poorest 3.5 billion people on the planet combined. And 1.2 billion of those poor people live on less than $1.25 a day. There is something deeply, deeply broken about a system that produces these kinds of results. Seven out of every ten people on the planet live in countries where the gap between the wealthy and the poor has increased in the last 30 years. Despite our technological advances, somewhere around a billion people go to bed hungry every single night. And when our fundamentally flawed financial system finally does collapse, it will be the poor that will suffer the worst.
Now, let me make one thing clear at the outset.
Big government and more socialism are not the answer to anything. Big government and more socialism almost always result in increased oppression and increased poverty. If you want to see where that road ultimately leads to, just look at North Korea.
What we need is a system that empowers individuals and families to work hard, be creative, build businesses and to take care of themselves.
But instead, we have a system where all power and all wealth are increasingly controlled by giant banks and giant corporations that are in turn controlled by the global elite. The “financialization” of the global economy has turned almost everyone on the planet into “deft serfs”, and the compound interest on all of that debt enables the global elite to constantly increase their giant piles of money.