May Day Massacre – Markets End April with a Whimper

Image result for stagnant wages top 1%Europe is closed, Asia is closed.  

Today is a day the World celebrates it's ordinary workers so, of coure, American doesn't even aknowledge it.  As you can see from the chart, since the Reagan Revolution (when the Rich overthrew the Poor and set up an Oligarchy in the United States), the wages of the Top 1% have grown 138% in the past 4 decades while the wages of the Bottom 90% have grown just 15%.  To acknowlege the working poor in this country would be to potentially begin a conversation on how badly we treat them – and that's a conversation the Oligarchs dare not have in America.

As the Wage Gap expands, so does the Wealth Gap, exponentially – especially now that we're no longer taxing the wages of the wealthy.  As I warned back in 2007's "The Dooh Nibor Economy (that’s “Robin Hood” backwards!)":

One of the great tricks of our economy is that there are avenues of wealth creation that are available to those of us who are already rich that are denied to those of you who aren't.  Only 1% of a Prince and Associates survey of high net worth individuals between $5 and $10M invest in ETFs and only 17% invest in mutual funds, NONE of the investors with more than $20M in assets invested in mutual funds, which are the new "opiate for the masses" but that's a whole other article I will write!  76% of the super-rich (> $20M) invest in hedge funds (Ka-Ching for me!) and another 36% invest in my other enterprise, start-up companies privately and through venture capital firms (and you think I just choose these professions at random).

Obviously, if you have less than $1M in household income you are essentially prohibited from investing in hedge funds due to government restrictions aimed at keeping out the riff-raff protecting the small investor.  This game is rigged so that the bottom 90%


continue reading