Tag: one percent

Survival of the Richest

If you have ever wanted to live like a James Bond villain in your own island lair, I have good news for you.

For the low price of several bajillion dollars, you can buy “a maximum security compound in which to ride out the coming plague, solar storm, or electric grid collapse,” whichever apocalyptic event comes first.

OK, maybe you don’t have a spare several million to drop on a high-tech sanctuary from which to survive the “environmental collapse, social unrest, nuclear explosion, unstoppable virus, or malicious computer hack that takes everything down.”

That just means you don’t love your family, because you are sentencing them to death in the inevitable Armageddon headed our way. 

But don’t worry. Because rich people will be just fine.

Yes, our favorite 1 percent of the population — the uber-wealthy — are striving to insulate “themselves from the very real and present dangers” that in many cases, they helped to create. 

Whether they made their money by destroying the environment or fomenting societal upheaval, billionaires are buying bunkers, hoarding resources and even creating private compounds in New Zealand (proving once again that rich oligarchs may praise right-wing enclaves like Hungary, but they actually want to live in a stable, socially liberal country).

These plutocrats are trying to “break the laws of physics, economics, and morality to… escape from the apocalypse of their own making.”

And they can afford it. Since the pandemic, the top 1% “have captured nearly twice as much new wealth as the rest of the world.”

Of course, there are many Americans who hero-worship the rich, and they are perfectly fine with sacrificing themselves if it means that an affluent buffoon will continue to live in luxury even if society collapses.

That sounds like an exaggeration, but witness how many poor Americans continue to vote Republican despite the GOP’s admission that it wants to destroy any semblance of a social safety net, give more money to billionaires, and allow the rich to “exploit the majority so they can accumulate wealth and move society forward as they wish.” 

A large percentage of Americans struggle to pay their bills, but shriek that any effort to make wealthy narcissists contribute more is “class warfare” or “socialism” or just morally offensive.

When it comes to opulent show-offs, Americans love “the wild philistinism and the bullying and the offhand cruelty, the compulsive self-aggrandizement and the giddy vengeful sadism.. all of it so oafishly performed that it could not possibly be mistaken for anything but what it is.”

The GOP knows this. So they have leaned into promoting crass morons born into wealth as avatars of the American Dream. 

Republicans have long insisted that “democracy and unfettered capitalism always traveled together,” but recently they have “ignored the ‘democracy’ part of that equation and continually doubled down on the idea that the American system means that businesses should be able to do whatever they wished,” while insisting that “any oversight must be Soviet-style communism.”

The result is that Republican legislators will gleefully derail bills to provide free breakfast and lunch for school students because they don’t want kids to get dependent on government. Seriously — this is an actual top GOP priority. Hey, for Republicans, hungry children do not even exist.

So if Republicans get their way, and rich people continue to tear the world down while plotting their escapes, what happens years from now, when only the wealthy can afford to survive?

Well, the truth is that islands are more dependent, not less, on society. So that approach won’t work.

Also, underground bunkers have air filters that break down and require strenuous effort to fix. You really think some pampered blue blood can handle that degree of manual labor?

And when it comes to armed compounds, remember that the hired thugs who protect the wealthy are people too. If the economic system has collapsed and money has no value, do you believe rifle-toting mercenaries are going to protect some rich jerk out of kindness and love?

So no, the wealthy will not survive.

There, don’t you feel better now?


How They Get Away With It

Perhaps you remember the bombshell news story from a few months ago that revealed the top 1% of America’s wealthy “got way richer during the pandemic.” Yes, even as millions of citizens were begging for a few hundred bucks to alleviate the devastation of Covid-19, our billionaires raked in so much money that they were in danger of suffocating in their golden bathtubs as their servants shoveled piles of cash over them. 

Yes, wealthy people have some odd kinks.

To continue reading this post, please click here.


Stranglehold

I’ve written before about the asphyxiating grasp that rich people have on the American Dream. As we know, the concept of social mobility is, at best, a faded myth that may never be relevant again. At worst, it is delusional pabulum served up to the masses to prevent them from revolting.

torch-and-pitchfork

 

But just in case you thought you could get ahead by sheer hard work and a can-do attitude, consider the following fact: According to one study, your degree of social mobility depends to a large degree upon where you live.

So for those of you who are poor in, say, Georgia, the odds are pretty good that your children are not going to swing the middle-class lifestyle. But don’t worry, “the chances that affluent children grow up to be affluent are broadly similar across metropolitan areas.” So again, the rich are going to be ok.

But wait — isn’t education the great equalizer? Well, nabbing a college degree is indeed one of the best ways to increase your income. Unfortunately, many kids are being priced out by tuitions that can only be called obscene. Again, however, you don’t have to fret over the wealthy. Because “college students have a better chance of getting financial aid if they come from affluent backgrounds than if they are lower on the income scale.” Yes, once again, the wealthy get a break denied to others, even if — as in this case — they don’t need it nearly as much as people on the lower end of the socioeconomic scale.

Of course, Hispanic kids are less likely to be rich in the first place. And thanks to backward cultural priorities, the odds are good that their children and grandchildren won’t be financially secure either.

Well, at least it won’t be awkward at Thanksgiving dinner, because we won’t have to endure about those rich relatives flaunting their wealth. Because everybody will be broke.

 


Mind the Gap

Here’s a cheery statistic that you may have missed: The wealthiest 1 percent now control 39 percent of the world’s wealth, and their share is likely to grow in the coming years.

greed

What this means is that while you were digging out from the Great Recession — or are still digging out — multimillionaires coasted through just fine. And the gap between the uber-wealthy and the rest of us is the widest it has been in about a half century.

To continue reading this post, please click here.

 


Show Them the Money

I used to write for a website whose target audience was upscale Hispanic men. My job was to find the hippest, most happenin’, muy caliente places and products.

Of course, I soon grew weary of writing for guys who think $5,000 stereo speakers are their god-given right. But I also got tired of explaining the gig to people who asked, “Just how many rich Latino guys can there be?”

To continue reading this post, please click here.

 

 


Party On

Due to unusual circumstances that I won’t even get into, I found myself at a ritzy event, surrounded by wealthy individuals. I happened to be standing near the door, and I saw members of the one percent walk in.

For the most part, they were polite and just like you and me. However, the exceptions were numerous enough to notice.

To continue reading this post, please click here.


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