The US Is a Banana Republic: The 1% Own More Wealth Than the Entire Middle Class

Re:The US Is a Banana Republic: The 1% Own More Wealth Than ... by criley2 on Monday October 11, 2021 @07:40AM (#28827220)

The wealthy under the gold standard during the Gilded Era was DRAMATICALLY more wealthy and powerful than today. The Carnegies and Rockefellers, who owned American society during the gold standard in the 1800s, would be about 5X-10X more wealthy than our Musk and Bezos.

The idea that you would own more wealth under that standard is laughable. We are far more equitable today than we were in that era. Our concept of the middle class largely didn't even exist in their era. They paid everyone poorly and kept them under control.

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Re:The US Is a Banana Republic: The 1% Own More Wealth Than ... by ClumsyPilot on Monday October 11, 2021 @08:02AM (#28827374)

I dont think you can ascribe a thousand legal, technological and societal changes to the gold standard

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Re:The US Is a Banana Republic: The 1% Own More Wealth Than ... by criley2 on Monday October 11, 2021 @08:04AM (#28827389)

What's good for the goose is good for the gander. I'll reply to people doing that by using their own arguments.

Based on the replies to me, the gold standard is the panacea for every ill in society. We'll all be rich, the wealthy will be torn down, we'll all be home owners, there will never be another bust, etc etc

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Re:The US Is a Banana Republic: The 1% Own More Wealth Than ... by roenxi on Monday October 11, 2021 @08:20AM (#28827503)

It probably won't do any of that. But it does make it a lot harder to print money and hand it over to the wealthy without people figuring out who is paying the bill.

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