OWS: ‘Clash of financial disparity’

The anti-government protests currently going on in United States, Greece, Spain, Italy and Israel – have different agenda than the so-called ‘Arab Spring’ mass protests we witnessed in Tunisia, Egypt, Bahrain, Yemen and Syria. While the ‘Arab Spring’ is against the western-supported corrupt ruling classes – the Western protesters are carrying an open war against the 1% rich-vultures. However, in both cases, the rich 1% minority is using every mean (government, politicians, police, bankers and media-outlets) at its disposal to destroy the 99% majority’s demands for equality and justice. So far, more than 3,000 protesters including journalists and war veterans have been arrested in United States.

Americans make a little over 4% of world population – but consumes over 40% of world’s resources. The US has world’s highest numbers of billionaires (450) and millionaires (320,000) – but 80% of them belongs to country’s 1% rich minority. The new census data released shows that over 49 million Americans (16%) live below poverty line. America has the worst wealth inequality among the industrialized world.

America still is the largest economy ($14.6 trillion), thanks to US$ being world’s reserve currency. However, its military budget ($680 billion/year) for Zionists’ war has already bankrupted the nation. The world’s future emerging economies are China ($10 trillion), Japan ($4.3 trillion) and India ($4 trillion). According to World Bank’s projection – Asia and Africa will leave behind North America and Europe during the next few decades. That’s the main reason for Qaddafi to be eliminated.

Professor Joseph Eugene Stiglitz (Columbia University) wrote in EconomyWatch: “The rise in equality is a product of vicious spiral; the rich rent seeker use their wealth to shape legislation in order to protect and increase their wealth – and their influence. The US Supreme Court, in its notorious Citizens United decision, has given corporations free rein to use their money to influence the direction of politics”.

While more and more Americans are joining the unemployment lines and making two-ends meals on food-tokens, the business elites have just made America’s record highest profit of $1.7 trillion in the third quarter of this year.

In 2007 – the 1% owned 50.9% of country’s stocks, bonds and mutual funds as compared to 0.5% of the 50% Americans (149 millions). During the same year, the 1% owned 33.8% of country’s total wealth while the lower 50% American population owned only 2.5% of country’s total wealth. See the wealth distribution chart here and here.

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