pundit from another planet
Thanks to their cozy relationship with the Obama administration, a new class of super-wealthy oligarchs keeps getting more powerful while the country’s middle class shrinks.
For The Daily Beast, Joel Kotkin writes: When our current President was elected, many progressives saw the dawning of a new epoch, a more egalitarian and more just Age of Obama. Instead we have witnessed the emergence of the Age of Oligarchy.The outlines of this new epoch are clear in numerous ways. There is the diminished role for small business, greater concentration of financial assets, and a troubling decline in home ownership. On a cultural level, there is a general malaise about the prospect for upward mobility for future generations.Not everyone is suffering in this new age. For the entitled few, these have been the best of times. With ever more concentration of key industries, ever greater advantage of capital over…
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