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How Biden Set Trickle-down towards a Collapse
Operation Middle-Out
One week after the November 2020 election, President elect Joe Biden announced that his administration will “reward work, not just wealth.” Politicians say things all the time, so no one paid attention to how he planned to do it.
Since the early 1990s, the American system has been designed to reward wealth in the hope that wealth creators at the top will automatically stimulate wealth creation at all levels of society.
The United States was pumping trillions of dollars into the economy to stop the bottom from falling out due to COVID in 2020, but it was also adding more than 1,500 millionaires per day.
These millionaires did not work so hard that money had no choice but to flow towards them. The existing system accumulates wealth at the top. The following two graphs cannot be explained any other way.
The number of millionaires rapidly increased, but the median household income is basically unchanged.
What happened to the GDP growth?
It went into rich people’s pockets.
America rewards wealth with more wealth.
