By Henry McRandall
WRISEUP.COM
We are on the precipice of a near-certain global economic depression by the end of 2012 unless drastic measures are taken now to prevent it.
Over the past 30 years, the governments of the primarily-western advanced industrial economies have aid and abetted the top one percent in their theft of more than 15 percent of the whole economic pie from the masses – the poor, the working class and the middle class.
During that time the wealth of the billionaires and mega-millionaires soared while real wages – and especially employee benefits – of the masses steadily declined.
As real disposable incomes declined, the working class and the middle class gradually increased their indebtedness in a vain attempt to keep up with inflation.
But the working class and the middle class have pretty much hit the debt wall. They’ve pretty much exhausted their ability to service any more debt. As for the poor, well, they’ve never really fitted into the equation anyway. read more »