Tuesday, September 13, 2011

The Drudge Report Trumpets the Concentration of Wealth

This is what the Drudge Report web site looks like today:

The main link in red leads to this article:

Census: US poverty rate swells to nearly 1 in 6

    The ranks of U.S. poor swelled to nearly 1 in 6 people last year, reaching a new high as long-term unemployment woes left millions of Americans struggling and out of work. The number of uninsured edged up to 49.9 million, the biggest in over two decades.

Another link:

U.S. Poverty Climbed to 17-Year High in 2010 as Household Income Fell

    The U.S. poverty rate rose to the highest level in almost two decades and household income fell in 2010, underscoring the lingering impact of the worst economic slump in seven decades.

    Data released by the Census Bureau today showed the proportion of people living in poverty climbed to 15.1 percent last year from 14.3 percent in 2009, and median household income declined 2.3 percent. The number of Americans living in poverty was the highest in the 52 years since the Census Bureau began gathering that statistic. Those figures may have worsened in recent months as the economy weakened.

This is exactly what would be expected when the wealth of the nation is concentrating. Since the Drudge Report is a staunch proponent of policies that help wealth to concentrate, we must assume that this home page for Drudge is good news - a mark of accomplishment. Poverty is the expected and desired result of policies that concentrate wealth.


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