There was a recent study that highlights the ongoing disparity of income distribution between the top 1% vs. the other 99%. (http://economix.blogs.nytimes.com/2013/09/10/the-rich-get-richer-through-the-recovery/?_r=0).
The policies that have driven this polarization of the economy remain in place — mega-monetary stimulus by the Federal Reserve, similarly unprecedented deficit spending by state and federal government, and wage pressure on the working class. Those working to pass the ‘Immigration Reform” bill would only serve to aggravate downward pressure on wages for the working class.
It is interesting to note the graphs on the above link to the NY Times article. The only time income distribution disparity was this great was during the stock market boom that preceded the Crash of 1929. Bernanke and the Federal Reserve, through their unprecedented printing of money, has again engineered a huge price surge in stocks and real estate. We had previously anticipated this would happen, and then as well as now, warn that the ongoing cycle of booms and busts being driven by the Federal Reserve may prove to be the final catalyst that will usher in the Beast and his Mark.
Bernanke and the Federal Reserve have massively distorted the workings of the financial markets. They have intentionally foster the massive expansion of Federal debt by artificially keeping down the cost of long term borrowing. WIthout Fed interference in the financial markets, the interest rate on long term Treasuries would be significantly higher, which serves as the natural discipline to keep governments from borrowing beyond their ability to repay. Similarly, in the private sector, the artificially low interest rates spur tremendous flows of money into financial assets like stocks and real estate — pushing them beyond sustainable long term price levels and eventually reaching heights that represent bubbles that will burst.
The impact of the above translates into great wealth for the top 1% who hold the vast majority of stocks and real estate. For the Underclass — those who must work to survive and have relatively little in means of stock/real estate investments — the inflation being generated by the Fed printing press translates into lower standards of living as one hour of work pays for a shrinking basket of goods.
The rich (and the media that they own) has fought against the appointment of Summers as the new Fed Chairman because they fear he will cut down on the unprecedented monetary of stimulus, while supporting Yellen in expectation that she will maintain the stimulus that is making the top 1% so rich.
The last time income distribution has been so skewed was just prior to the stock market crash of 1929. This could be an additional indication that the Federal Reserve is creating another bubble that will not last long. The global growth of debt during the past few years, driven by Fed policy, may prove to be final bubble that upon bursting, will usher in rise of the Beast. In the meantime, the children of the Beast are using their massive wealth (helped by Fed policy) to drive their political agenda — an agenda that is preparing the way for the ultimate rise of the Beast.
Should this bubble be popped soon, perhaps there is still a chance that America will be able to avoid falling under the dominion of the Beast.