The world's population of everyday normal millionaires heh since the year 2000 has more than quadrupled to 52 million

 ... There is not much data on individuals in the $50 million to $1 billion range, which distorts the picture, according to Mazeau. He also said the wealth growth among middle and lower wealth brackets is underappreciated. For instance, the number of individuals with $1 million to $5 million, whom UBS dubs “everyday millionaires,” has more than quadrupled since 2000 to about 52 million.

“They have more wealth collectively than all the billionaires in the world,” he said. “It is often overlooked how much wealth is rising and is going towards the middle of the pack.”

The middle of the pack. Yeah right.

It takes $33 million in 2025 to be a 1913 millionaire. 

More in "The U.S. added a thousand new millionaires a day in 2024: Report".

Meanwhile . . .

 

 

The rentier class at CNBC, FinTwit, Wall Street, is in a panic about Fed rate hikes and just lies this morning about the latest battle: Payrolls beat expectations but CNBC says payrolls slowed

 Well yeah, they slowed from 315k, but that was EXPECTED.

The parasites who derive their main livelihood from the returns on financials are in a panic over Fed rate hikes designed to reduce inflation. Whether those will do that or not is beside the point.

This is all about their carry trade. 

The Fed has been making cheap money available since December 2002 to restart the stock market and it has hardly stopped . . . until lately. The politics of inflation have finally caused the Fed to pivot on this long-standing policy, and they couldn't be more angry.

The top 10% borrow at cheap government rates and plow the money into private financial products which pay higher rates which the 90% have to pay. They prosper, gloriously, off the difference. But increase their cost of borrowing and you are diluting the gravy train.

Ever since the Fed started raising rates in earnest earlier this year, the rentiers have been trying everything they can to get them to pivot, without success.

This morning the hope was that a really poor employment report would get the Fed to back off, except the 263k figure beat expectations of 250k.

The Fed is likely to stay the course and keep raising rates.

CNBC paints this as slowing in keeping with the rentiers' rhetorical narrative aimed at the Fed, which has a dual mandate to maximize employment and maintain stable prices.

Never mind that the dual mandate is nuts since unstable prices exact a far greater cost on the people than unemployment ever does. Inflation doubling makes everyone pay 100% more for everything indefinitely, whereas unemployment affects fewer and is definitely cyclical.

And never mind the Fed has NO mandate to suppress interest rates, buy securities, and bail out the world.

But I digress.

You are being lied to and manipulated . . . constantly.

Because they can, and it works.

 

The left is phony, a clerisy suffering from Tourette's Syndrome, the bourgeois tool of neoliberalism: Brexit fascists! Trump fascists! Yellow vest fascists! Trucker fascists!

 Tom Slater, here: 

 

Essentially every time working-class people have revolted against the establishment in recent years the left has joined with the centrists to denounce them as fascists. The Brexit vote? Fascists! The Trump revolt? Super fascists! The gilets jaunes? French fascists! It’s like a tic at this point, a form of political Tourette’s bred of the left’s profound disorientation. ... today’s leftists are so cloistered, so bourgeois, so much more comfortable in the faculty lounge than on the factory floor, that they not only can’t lead these revolts, they really don’t want to. ... Supposed radicals – up to their eyeballs in divisive intersectionalist politics – have become the useful idiots of a neoliberal ruling class keen to put voters firmly back in their place . . ..

The default position of liberalism is to blame obstruction by reactionaries for republican failure, not the revolutionary impulses of the autocrat

"The republicans made me seize power".

You know whose side they are on when people talk like this. Spengler long ago observed how liberalism is all about tyranny, but does anyone still read him?

"The dictatorship of the bourgeoisie is all that Liberalism sets out to be."

The voices opposed to the US Senate filibuster, are, to put it bluntly, not related to our founding.

"However high-minded":

Caesar would soon seize autocratic power, and Cato would commit suicide rather than live under Caesar’s rule. Goodman and Soni argue Cato’s obstructionism — however high-minded — was a contributing factor to the Roman Republic’s collapse. America’s Founding Fathers, however, idolized Cato. George Washington’s soldiers staged a play about Cato at Valley Forge.  Patrick Henry’s famous quote, “Give me liberty of give me death,” is derived from a line in that play.

This box of rocks graduated with honors from Boston University with a BA in international relations and economics in 2011

John Maynard Friedman strongly disagreed:

How can I accept the Communist doctrine, which sets up as its bible, above and beyond criticism, an obsolete textbook which I know not only to be scientifically erroneous but without interest or application to the modern world? How can I adopt a creed which, preferring the mud to the fish, exalts the boorish proletariat above the bourgeoisie and the intelligentsia, who with all their faults, are the quality of life and surely carry the seeds of all human achievement? Even if we need a religion, how can we find it in the turbid rubbish of the red bookshop? It is hard for an educated, decent, intelligent son of Western Europe to find his ideals here, unless he has first suffered some strange and horrid process of conversion which has changed all his values.

Lunch box Joe promises to sacrifice blue collar workers on the altar of a green economy

All Democrats had to do is run sane, normal people for president to beat Trump, and they can't find any.

Free movement of peoples to the US will destroy it, same as free trade

Generally speaking, the protectionist system today is conservative, whereas the Free Trade system has a destructive effect. It destroys the former nationalities and renders the contrast between proletariat and bourgeoisie more acute. In a word, the Free Trade system is precipitating the social revolution. And only in this revolutionary sense do I vote for Free Trade.

-- Karl Marx, Appendix to Elend der Philosophie, 1847.

Wow, white Daily Beast POS who doxxed black blue-collar Pelosi-vid creator did 5 years for espionage

Daily Beast Writer, A Convicted Felon Previously Banned From The Internet, Doxxes Man Who Made Pelosi Meme Video

Christine Ford is Emma Sulkowicz, still carrying around a bed under her arm from 36 years ago

From the post here:

“We now have feminism that should be a movement of freedom and empowerment, but it has become an instrument of repression. I always identify very strongly with people like Charles Baudelaire, Oscar Wilde, or those figures from the last century who were very anti-bourgeoisie. That minister of justice of yours is just a bourgeois voice, it has nothing to do with the liberation of women. It is repression, shutting down the mind. But your mind must be completely free – expression must be completely free. Women should read great literary works. Psycho by Alfred Hitchcock, for example, Dostoevsky, Simone de Beauvoir, Albert Camus, to understand something about men. Instead of: “We need to reform men.” Stop it. Feminists discourse of sex and gender has become hopelessly careless and naive, okay, it is a self-cannibalizing ideology without reference to important research on human nature and other cultures.

“There are a lot of neurotic women who have clung to that feminist discourse, take Emma Sulkowicz, a 21-year-old student at Columbia University who spent nearly a year on campus with a mattress under her arm because she had allegedly been raped in her own bed by a fellow student. She received an award from the ‘National Organization of Women‘ because she is a ‘hero’. It was sick and neurotic behavior. That woman lied and every attempt to find out what happened was thwarted by herself, her story was inaccurate. But neurotic behaviour is apparently celebrated. The only thing that it accomplishes is that it alienates men even more from women. We are back in the fifties!”

Immigration raid sends shockwaves through packing industry happy to hire people from shit-hole countries

Neil Munro reports for Breitbart, here:

The raid is sending shock-waves through the meatpacking industry which is being caught between marketplace pressure to keep costs low and the federal laws barring the employment of cheap foreign migrants.... For many years, the industry has relied on a mix of immigrants, illegal migrants and legal refugees from Syria, Somalia, and other unfortunate countries. The resulting marketplace pressure is pressuring reluctant meatpackers to raise their salaries. ...

Four million Americans turn 18 each year and begin looking for good jobs in the free market.

But the federal government inflates the supply of new labor by annually accepting roughly 1.1 million new legal immigrants, by providing work-permits to roughly 3 million resident foreigners, and by doing little to block the employment of roughly 8 million illegal immigrants.

The Washington-imposed economic policy of economic growth via mass-immigration floods the market with foreign labor, spikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by blue-collar and white-collar employees. It also drives up real estate prices, widens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million marginalized Americans and their families, including many who are now struggling with opioid addictions.

Camille Paglia crafts an anti-elitist zinger, aimed at our modern day Puritans, calls Comey an effete charlatan

From the interview here:

These elite Democrats occupy an amorphous meta-realm of subjective emotion, theoretical abstractions, and refined language. But Trump is by trade a builder who deals in the tangible, obdurate, objective world of physical materials, geometry, and construction projects, where communication often reverts to the brusque, coarse, high-impact level of pre-modern working-class life, whose daily locus was the barnyard. It's no accident that bourgeois Victorians of the industrial era tried to purge "barnyard language" out of English.

I knew there was something I didn't like about R. R. Reno

Once a radical, always a radical.

He admits to nostalgia for his former radicalism, here:

Jacobin, founded in 2010, is a Marxist quarterly that has gotten notice as the voice of youngish radicals. I took a subscription last year, wanting to know the thinking of the anti-establishment left. As a college student in the early 1980s, I was for a brief period the campus organizer of CISPES, the Committee in Solidarity with the People of El Salvador. I’ll leave it to the historians to determine whether CISPES was a front organization under Soviet control, but I can report that my participation in meetings put me in touch with hard-core communists. So I enjoy a certain nostalgic pleasure when I read the occasional essay that speaks of “objective conditions” and “a working-class vanguard.”

Fundamentalist Maureen Dowd calls her own newspaper's claim of Trump wiretaps "unhinged" from which the Times hasn't backed off since publishing it

Here:

For two weeks, [Trump] has refused to back off his unhinged claim that his predecessor tapped his phones during the election. ... Even Devin Nunes, chairman of the House Intelligence Committee, gave up the Sisyphean effort of defending Trump’s tripe. He said that if you took Trump’s remarks “literally” — as we expect to do with our commander in chief’s words — “clearly the president was wrong.”

Salena Zito nails it: Hillary's loss was never about Trump but about Democrats losing touch with their voters

Here:

What Democrats, academics and pundits keep refusing to see is that the loss was never about Trump’s candidacy; it was all about how Democrats have increasingly lost touch with their voters outside of coastal America — until those voters finally hit their breaking point.

Here's a man and his family Kevin Williamson of National Review thinks should just die

And the father just might.

Their story, here.

“The truth about these dysfunctional, downscale communities is that they deserve to die. Economically, they are negative assets. Morally, they are indefensible."

-- Kevin Williamson, quoted here

Sally Kohn, looks like a white man, talks like a white man, dresses like a white man too, but is afraid white men will vote for Trump

Yeah, so? Look at you, you blue collar pervert.

Here.

NYT: Hillary needs a black opponent to win Democrat white men

But to win the white Republican establishment all she needs is Donald Trump.

Here:

While Mrs. Clinton swept the five major primaries on Tuesday, she lost white men in all of them, and by double-digit margins in Missouri, North Carolina and Ohio, exit polls showed — a sharp turnabout from 2008, when she won double-digit victories among white male voters in all three states.

She also performed poorly on Tuesday with independents, who have never been among her core supporters. But white men were, at least when Mrs. Clinton was running against a black opponent: She explicitly appealed to them in 2008, extolling the Second Amendment, mocking Barack Obama’s comment that working-class voters “cling to guns or religion” and even needling him at one point over his difficulties with “working, hard-working Americans, white Americans.”

Trump's base, working poor and blue collar Americans, is ENORMOUS: At least 57% of all earners!

The average blue collar worker makes $32,000 a year in 2016.

In 2014 up to 90 million workers made only that much, or less.

They're YUGE!

Ben Domenech says Trump and Cruz stole Rand Paul's libertarian foreign policy

Here for The Federalist.

But Domenech never mentions how Trump stole something else: attracting hordes of people to his appearances who come from all walks of life, but especially blue collar independents and Democrats.

That's what Rand Paul hoped to do all along, recreating the Republican brand.

Trump is succeeding at what elite libertarians have only been able to dream of politically, but now that they've got what they wished for they want nothing to do with it because Trump is uniting people through a conservative value: patriotic American nationalism.

Rand Paul doesn't get it, and neither does Domenech: Americans are conservative much more than they are libertarian.

Feminists derailed infrastructure stimulus spending in 2009

The liberal projectionists who brought you the War on Women have been waging war on the men.

Seen here:

Vermont Sen. Bernie Sanders . . . suggests that the government invest heavily in infrastructure, which would create a lot of blue-collar jobs.

That was actually an original part of Barack Obama's stimulus plan, but it was derailed by feminists within the Obama coalition who thought it would produce too many jobs for men. Christina Romer, then-chair of Obama's Council of Economic Advisers, reported: "The very first email I got ... was from a women's group saying 'We don't want this stimulus package to just create jobs for burly men.' "

Enjoy the music here.