The United States is an oligarchy
This concentration of the income and wealth on the top, proves that the United States is an oligarchy. A 2014, study by Princeton University demonstrated how the US is a political oligarchy. With this report showing the insanely widening income and wealth inequality, my aim is to show, that the country is an economic oligarchy, too. In fact, economic super riches are the precondition for their political power, too. In America, as always, the oligarchy has achieved their uncontested power in a hermeneutical feedback loop, where the initial wealth of the superrich has bought them increased political power, which has given them increased riches, which has bought them more political power, and so on, until today, when they own practically the whole economy and the entire government. Clearly the source of higher inequality has been Fed policies, which has pushed cheap money into the pockets of the already rich, who have exclusively then benefited from soaring stock and real estate prices.
Fittingly, we got end of 2019 a report revealing that the world’s richest people increased their wealth in the year by $1.2 trillion, a staggering 25%, most of which belong to the oligarchs of the United States.
The question – which I have set to explore in my series of Capitalism in America – is whether there has been a game plan, a long-term strategy or whether intermittent achievements have just spurred the oligarchs on to new economic and political power grabs in the course of establishing their totalitarian rule. I tend to think, there has been a long-term plan ever since the establishment of the Federal Reserve. The economic and political history of the United States provide so much circumstantial evidence, which supports the view that there has been a conspiracy of the Wall Street elite. I shall return to this hypothesis in further installments to this series of Capitalism in America. It is however clear – whether through a long-term plan or by a series of ad hoc interventions – the US financial elite has by now completed a creeping coup, which have delivered them absolute economic and political power.
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In my investigation of the oligarchization of America – the creeping neoliberal oligarch coop, which set in full force since Reagan – I have so far completed these instalments:
- The first installment was a study showing how all corporate ownership has been concentrated in the hands of the oligarchy, titled Extreme concentration of ownership in the United States
- The second part was a study revealing how the oligarchy has totally taken over US media, titled The Oligarch Takeover of US Media
- The third installment was a report published on the Saker blog titled New World Order in Meltdown, But Russia Stronger Than Ever
- The fourth installment, The Oligarch Takeover of US Pharma and Healthcare was also on the Saker blog.
- Next due is a report showing how from point of view of political science the oligarchy has destroyed the social fabric of the US economy and deliberately enacted laws that favor the few over the people. Of particular interest here is how the oligarchy has rigged the political system by institutionally solidifying the mendacious Janus- faced two-party system in order to remove any potential challenge to their rule.