The CrossTalk television program titled “Wealth Abyss”, hosted by Peter Lavell, appeared on 26 January 2015, and can now be accessed as a youtube video.
One percent of the global population already owns half the world’s wealth, and at this rate is set to accumulate even more. As much of the world slowly recovers from severe recession, the very rich are prospering and greatly so. Is the global system rigged to their advantage? This CrossTalk discussion with Max Lawson (Oxfam), Richard Wellings (London Institute for Economic Affairs) and economist Prof Michael Hudson (University of Missouri, Kansas- City) is essential viewing or listening for everyone who wants to know how and why this has happened:
“ They’re creditors to the bottom 99 percent that are debtors and renters. If you look at these wealthiest families, there are a number of common denominators: They didn’t earn their income, and yet economists only look at how people earn their income. President Obama last week said, ‘Well, if you have the desire to get rich and you work hard, you can do it.’ But that’s not how these families got their wealth. ”
Viewer comment: Gets real interesting with Michael Hudson – he’s extremely candid and spot on with his opinion on the 1%, their buying and controlling governments and policies, and their agenda – so much for democracy and elections!