If half of the world has less money than less than ten people, something is either wrong or rigged. There is no middle ground or shade of gray. Either we are living in a world of kings and peasants or we are living in a world where all people are created equal. The very idea that there will always be poverty at a time of mega yachts, vacation homes, million dollar cars, Botox and private islands is to spit in the face of reason.
A very real present day consequence of this growing, institutional, massive wealth disparity is seen in the rise of populism politics in the industrialized world. Brexit, Donald Trump in America, the growing Made in France movement, and so on. It has finally caught on that globalism doesn’t work for the common man, because it wasn’t designed or put in place by the common man. It was put in place by the elite, to benefit the elite. The manual labor workers of the first world have been forgotten and left behind. Whether on purpose or on accident no longer matters, they have made their voice heard by organizing and getting behind far right political parties and candidates.
The political consequences of the wave of populism that we are currently in the beginning of, are just now starting to take shape. But politics is just the tip of what is going on. Follow the money, because neither political populism nor big philanthropy will be enough to stem the tide of the rising groups of people with no jobs, no homes, nothing to lose but debt.
They are going to the voting booth for now, protesting in mass on the streets for now. But the history of the world shows that concentrated wealth and power are the planted seeds for rebellion. And unless the elite share the love as well as their wealth, it is not a question of if but when their favorable debt to liquidity ratio can no longer save them from the ratio of have-nots to haves that are past the point of no return.
Eight men possess more wealth than half the world combined? That doesn’t happen on accident. This has been done on purpose. This is long-term, purposeful, monetary migration. The problem is known. The solution is known. But the money keeps going the same direction, up. These super charged capitalists have certainly skirted some laws to amass their obscene wealth concentration. But nothing skirts Newton’s Third Law of Motion. What goes up, must come down.