In this podcast, we discuss Greg's article "Obscene Wealth" from MLToday, based on Gabriel Zucman's research on U.S. wealth inequality. Zucman reveals that in 2024, the wealth of the top 0.00001% (19 households) increased by $1 trillion, surpassing Switzerland’s GDP. The top 10% possess 67% of the wealth, while the bottom 50% hold just 3%, leading to economic and political marginalization. The article argues that capitalism inherently concentrates wealth, reinforcing class divisions between capital owners and workers.
A few topics we cover in our conversation include:
- Why wealth inequality is worse than income inequality—and how it strangles democracy.
- The death of the middle class: From thriving factory towns to hollowed-out economies.
- Cold War secrets: How post-WWII prosperity was a fluke (and why it collapsed).
- Why both Democrats & Republicans serve the ultra-rich (hint: lobbyists, gerrymandering, and media control).
- Possible answer: Replacing capitalism with socialism is presented as a viable solution.
Article in MLToday: https://mltoday.com/obscene-wealth/
Greg’s Blog: http://zzs-blg.blogspot.com/
Pat’s Substack: https://patcummings.substack.com/about
#Obscene Wealth #Wealth Inequality #Billionaires #Late Stage Capitalism #Robber Barons #1Percent #Oligarchy #Marxist Analysis #Rust Belt #Working Class #Leftist Podcast #Economic Justice #Jeff Bezos #Elon Musk #Dark Money#Rust Belt #Democracy In Decline#Leftist Podcast##Pat Cummings#Greg Godels#ZZ Blog#Coming From Left Field#CFLF#Podcast#zzblog#mltoday
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