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New it's as bad as we thought

Adding to the mountain of statistical evidence showing the severity of U.S. inequality, an analysis published Friday found that the top one percent of Americans gained $21 trillion in wealth since 1989 while the bottom 50 percent lost $900 billion.

Matt Bruenig, founder of the left-wing think tank People's Policy Project, broke down the Federal Reserve's newly released "Distributive Financial Accounts" data series and found that, overall, "the top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing, meaning they have more debts than they have assets."

The growth of wealth inequality over the past 30 years, Bruenig found, is "eye-popping."

"Between 1989 and 2018, the top one percent increased its total net worth by $21 trillion," Bruenig wrote. "The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period."

"Enormous crisis," Rep. Pramila Jayapal (D-Wash.) tweeted in response to Bruenig's analysis.

"We have the worst inequality in this country since the 1920s," wrote Jayapal, co-chair of the Congressional Progressive Caucus. "Three wealthiest people in America have as much wealth as the bottom 50 percent."




'Eye-Popping': Analysis Shows Top 1% Gained $21 Trillion in Wealth Since 1989 While Bottom Half Lost $900 Billion




Satan (impatiently) to Newcomer: The trouble with you Chicago people is, that you think you are the best people down here; whereas you are merely the most numerous.
- - - Mark Twain, "Pudd'nhead Wilson's New Calendar" 1897
New Well, at least ...
We Know We're Free!™

Makes one proud, doesn't it?
bcnu,
Mikem

It's mourning in America again.
New curious, how much of that is in cold hard cash?
"Science is the belief in the ignorance of the experts" – Richard Feynman
New Here's another installment on How they Got It (All): The Eviction Business
aka Lots of suffering, lots of massive ignorance: all in the laps of ~40%? unTeachables to 'decide'.
Bizness sez: Sell Short/then make-Big-Bucks selling to Russian oligarchs ..the now usual-Ethics-FAIL.
(People are distressed about That)? ... when it was here from the first? Non-compos-mentis. Screw 'Unum' please.

The Scarlet E, Part III: Tenants and Landlords.


The Scarlet E, Part III: Tenants and Landlords

This is episode three in our series, “The Scarlet E: Unmasking America’s Eviction Crisis.” It’s the dollars-and-cents episode, in which we account for what we know and don’t know about those who own and those who rent. We digest some new data — compiled and analyzed, in part, by our collaborator, Matthew Desmond — that demonstrate the extent to which landlords often profit in impoverished communities. We speak with the founder of a massive online eviction platform, who defends his company’s “standardized process.” In Camden, New Jersey we hear the story of Destiny, a social worker whose corporate landlord showed no reluctance to bring her to housing court, month after month. In Indianapolis we meet a mom-and-pop landlord who doesn’t deny her profits in the low-income market — she’s a businesswoman, after all — but who also has often given delinquent tenants the chance to get caught up. And in Richmond, Virginia we learn the hard truth about landlords’ comfortable place in the American legal system — even in spite of unmistakable neglect. Music by Mark Henry Phillips, except for "Indiana," sung by Straight No Chaser. To hear other episodes of The Scarlet E and to learn about the eviction stats in your own state, visit onthemedia.org/eviction. Support for “The Scarlet E” is provided by the Bill & Melinda Gates Foundation, the John S. and James L. Knight Foundation, and the Melville Charitable Trust. Additional support is provided by the Economic Hardship Reporting Project, and “Chasing the Dream,” a WNET initiative reporting on poverty and opportunity in America. Support for On the Media is provided by the Ford Foundation and the listeners of WNYC Radio.

Plus a few relevant other 'casts:

40 Acres
JUN 14
President Trump claims to have struck a deal with Mexico to settle a dispute of his own making. On this week’s On the Media, a look at the lives of the people who stand to suffer most. Plus, how the path to America’s eviction crisis begins, in part, with the Great Migration. 1. Bob Moore [@BobMooreNews], freelance reporter based in El Paso, on the human reality at the border amidst the latest Trumpian mendacity. Listen. 2. We continue our four-part series on eviction by charting the persistent line between racist housing policies, localized profiteering and the devastating plunder of generations of wealth. Guests include Matt Desmond [@just_shelter], founder of the Eviction Lab; Natalie Moore [@natalieymoore], reporter for WBEZ; and Marty Wegbreit, director of litigation for the Central Virginia Legal Aid Society. Listen.

20 min
What "Running From Cops" Learned From "Cops"
JUN 12
The first episode of the TV show "Cops" aired thirty years ago, and in the ensuing decades it's become influential enough to mold the attitudes of new aspiring police officers. But if the show holds up a mirror to law enforcement in this country, it shows a warped reflection. In the podcast series "Running from Cops", host Dan Taberski and his team watched nearly 850 episodes of the show and tallied what they saw: roughly four times the amount of violent crime than there is in real life, three times as many drug crimes, and ten times the amount of prostitution. "Cops", as the podcast points out, makes the world seem more crime-ridden than in reality. It has also inspired copy-cat shows, like the popular "Live PD," that also warp depictions of what's appropriate (and legal) in policing. In this OTM podcast extra, Bob talks to Dan Taberski about the podcast's findings and what the popularity of these shows says about viewers.

50 min
Introducing: The Scarlet E (another on above)
JUN 7
Millions of rent-burdened Americans face eviction filings and proceedings every year. On this week’s On the Media, what we think we know, and what we definitely don’t know, about America’s eviction crisis. Plus, how local journalists failed the Central Park Five. 1. Jim Dwyer [@jimdwyernyt], columnist for The New York Times, on his experience reporting on the Central Park Five trial. 2. We hear the story of Jeffrey, a security guard in Richmond, Virginia whose severe rent burden caused his family to be evicted. 3. Matthew Desmond [@just_shelter], founder of the Eviction Lab, explains what he and his fellow researchers have learned from their massive collection of eviction data.

15 min
Making America Antitrust Again
JUN 5
This week, the US House Antitrust subcommittee announced a probe into the mainly-unchecked power of tech giants like Google, Facebook, Apple and Amazon. The investigation could include public hearings and subpoenas toward antitrust intervention into the businesses of Silicon Valley leviathans. The news came on the same day that The Wall Street Journal reported that the Federal Trade Commission and the Justice Department are expanding their oversight into Facebook and Google's anti-competitive practices. Last November, Brooke spoke with Stacy Mitchell, co-director of the Institute for Local Self-Reliance, about Amazon’s domination over industry after industry and where we stand in the arc of antitrust regulation. In 2018, Mitchell wrote an article for The Nation called “Amazon Doesn't Just Want to Dominate the Market — It Wants to Become the Market.”

50 min
Climate Obscura
MAY 31
The Trump administration has ordered federal agencies to stop publishing worst-case scenario projections of climate change. This week, On the Media examines the administration’s pattern of attacks on climate science. Plus, a look at the dark money behind environmental deregulation. 1. Kate Aronoff [@KateAronoff], fellow at the Type Media Center, on the White House's suppression of climate warnings. Listen. 2. Jane Mayer [@JaneMayerNYer], staff writer at The New Yorker and author of Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right, on the billionaires supporting the modern conservative intellectual framework. Listen. 3. Jan Zalasiewicz, Anthropocene Working Group Chair, on the traces that today's humans might leave behind for future civilizations, and Benjamin Kunkel [@kunktation] on whether the Age of Capitalism might be a more appropriate term to describe our epoch. Listen.

20 min
Hurricane Season is Nearly Here. Brace Yourself for the Coverage.
MAY 29
Tornadoes ripped across multiple states on Tuesday, killing at least one person. It was the twelfth straight day of tornado activity in the U.S. — a new record, according to the National Weather Service. But as the New York Times reported yesterday, limited data make it difficult to draw explicit connections between a warming climate and trends in tornadic activity. Even in our hyper-quantified time, there's still an element of mystery to where, why, and how twisters strike. And then there are hurricanes. For media professionals, hurricanes offer the very best kind of bad news, because the story arc is predictable, and invariably compelling. In our Breaking News Consumer’s Handbooks, we examine the myths, misleading language, and tired media narratives that clog up news coverage at a time when clarity can be a matter of life and death. Since the Atlantic hurricane season begins this week, we're republishing our guide to consuming the coverage to come. In this segment, which originally aired in Sept. 2017, Brooke speaks with Dr. Robert Holmes, National Flood Hazard Coordinator for the U.S. Geological Survey; Gina Eosco, a risk communication consultant; and Scott Gabriel Knowles of Drexel University, author of The Disaster Experts: Mastering Risk in Modern America. Add Caption Here (On the Media/WNYC)

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[And.. The Beat Goes ---> On.}

     it's as bad as we thought - (lincoln) - (3)
         Well, at least ... - (mmoffitt) - (1)
             curious, how much of that is in cold hard cash? -NT - (boxley)
         Here's another installment on How they Got It (All): The Eviction Business - (Ashton)

Ignore the man talking to his hand.
106 ms