Tuesday, September 20, 2011

A View of the Coming Plutocracy

A plutocracy is in the forecast for the United States during the "Green Technology Age", which will start in 2021, immediately following the end of "The Great Deflation". Right now, I would characterize the United States as a hybrid of democracy and plutocracy, much like the economic conditions that existed from 1842 to 1852 (Cycle wave b of Supercycle wave (II)). The United States is rapidly moving towards becoming a full-fledged plutocracy, and the country is more plutocratic during the Obama Administration Period than it was during the Bush (43) Administration Period.

Part of the basis for forecasting a plutocracy has to do with wave personality, as B waves have weak breadth and are technically weak. For the economy, weak breadth translates to a strong concentration of wealth in the hands of the top 1%. The coming "Green Technology Age" would be Supercycle wave (b), which should be a parallel of economic conditions that existed in the United States from 1842 - 1852, but with an even stronger concentration of wealth at the top and even weaker economic fundamentals even as the nominal GDP hits new highs in the early 2040s.

One of the more obvious hints of a coming plutocracy is the widening gap between the top 1% and the working class, which is already larger than it was in 1929 and the trend is still unfolding at a rapid clip. In 2017, we enter the "Bridge to Plutocracy" as the Bachmann Administration works in tandem with the Koch Brothers (more on that later) to set the United States on an inexorable course to a full-fledged plutocracy, that is, the rule of the nation by the top 1%.

On "Main Street", the last of the family wage jobs is predicted to be purged by 2015, and the last of the living wage jobs is predicted to be purged by 2020. When it becomes impossible for the average Joe and Jane on "Main Street" to support a family even with both parents working full time, a full-fledged plutocracy is born -- that point should happen in 2021.

We are already seeing precursors of the coming plutocracy in terms of working conditions as well. A case of point underscoring that trend is the working conditions in the warehouses owned by Amazon Corporation, in which employees are routinely forced to work in an environment where the heat index soars as high as 115 degrees. We are seeing a trend of falling wages and increasingly unsafe working conditions as the wealth gap between the working class and the top 1% continues to widen.

The article Allentown : Inside Amazon.com's warehouse details examples of many of the horror stories associated with increasingly unsafe working conditions that come with the inexorable trend towards a full-fledged plutocracy.

Even now, we are seeing indications of a coming plutocracy in the United States, in which a full-fledged plutocracy will be in place starting in 2021. The wealth gap will continue to widen over time. In 2010, the low end of the top 1% earned $250,000 a year, 10 times the median wage of the working class. In 2021, the ratio will rise to 40 to 1, and by 2042, the ratio will rise to 200 to 1. The CEO to worker wage ratio will skyrocket even faster.

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