But I hope you will. ANewDomain.net is running my analysis of the 2014 midterm election results, which shockingly do not jibe with what everyone else is saying. Please click here and take a read and comment if you feel like it. Or even if you don’t.
Wednesday morning quarterbacking yesterday’s midterm election results is bringing out a lot of the usual claims that everything is changed, nothing has changed and anyway, what does it all mean for the 2016 presidential race.
I’ll leave the partisan politics to the Democratic and Republican surrogates and paid pollsters whose job it is to, respectively, make their side look less bad or better than it deserves. My interest is the big picture, so that’s what you’re going to get here.
1 Comment.
Piketty proved that, most of the time, r > g.
There was an aberration after Uncle Joe ordered every member of the Soviet bourgeoisie and petit bourgeoisie killed and the leaders of the Capitalist world feared the rabble were revolting, or at least on the verge of revolting. From ’33 until ’81, g > r (after taxes). But then we returned to normalcy.
Under Obama, the average income is up quite a bit. Median income is down, and has been falling since ’81, since r (after taxes) >> g.
This means that, while the economy is growing nicely, all the growth is going to those bourgeoisie and petit bourgeoisie who have r, while those who have little or no r are not just getting none of the g, they are getting a smaller and smaller piece of the total GDP, so their real incomes have been falling.