White House Chief of Staff Ron Klain, former private equity underwriter (PEU) with Revolution LLC, believes inflation and supply chain breakdowns are "high class problems", i.e. they impact only the wealthy. Apparently the wealthy are the only ones putting fuel in their vehicles, buying food in stores and adding to their expensive car collections.
Klain need only turn to the PEU laden Biden Cabinet and ask his high class peers, the top two from Pine Island Capital. It may have been some time since they've mingled with common citizens.
As for the PEU boys real worry, it's not inflation or supply chain issues. It's ruling their part of the world after society breaks down. Greed and leverage got them massive riches, but how will they hold on to their just desserts? They know what happened to a Western courted Ghadafi after the U.S. destroyed Libyan society for easy oil and gold bullion. They fear having to learn new rules to survive, like Bernie Madoff in jail.
Professor Douglas Rushkoff wrote “Survival of the Richest” in which he disclosed he'd been paid an enormous sum to meet with five extremely wealthy hedge funders. Caitlin Johnstone wrote:
Unnamed billionaires sought out his advice for strategizing their survival after what they called “the event”, their term for the collapse of civilization via climate destruction, nuclear war or some other catastrophe which they apparently viewed as likely enough and close enough to start planning for.
Rushkoff writes that eventually it became clear that the foremost concern of these plutocrats was maintaining control over a security force which would protect their estates from the rabble in a post-apocalyptic world where money might not mean anything. I encourage you to read the following paragraph from the article carefully, because it says so much about how these people see our future, our world, and their fellow human beings:
“This single question occupied us for the rest of the hour. They knew armed guards would be required to protect their compounds from the angry mobs. But how would they pay the guards once money was worthless? What would stop the guards from choosing their own leader? The billionaires considered using special combination locks on the food supply that only they knew. Or making guards wear disciplinary collars of some kind in return for their survival. Or maybe building robots to serve as guards and workers — if that technology could be developed in time.”
Something to keep in mind if you ever find yourself fervently hoping that the world will be saved by billionaires.
We are ruled by warmongers and sociopaths, and none of them have healthy plans for our future. They are not kind, and they are not wise. They’re not even particularly intelligent. Unless we can find some way to pry their fingers from the steering wheel of our world so we can turn away from the direction we are headed, things will probably get very dark and scary.
Sociopaths at the Federal Reserve traded financial instruments as they injected trillions into the economy during the COVID pandemic, front-running fiscal policy. Congress caters to policy making billionaires, the ones worried not about preventing societal breakdown, but keeping their engorged share after it occurs. A former White House ethics official is concerned over Hunter Biden's selling his extremely expensive art.
"If we were monitoring some developing country and learned that the president's son was about to make millions from the sale of his art, and hadn't sold any art before, we'd be talking to that country's leadership about the need for ethical reform."
Former President and ethics nightmare Donald Trump continues his altered reality tour to maintain his fragile ego. He asked Republicans not to vote in the 2022 and 2024 elections. Without voting how will Republicans regain the levers of power? Storm troopers? Trump would engineer the societal breakdown the billionaire class fears to maintain his all knowing and all powerful persona. At that point it would make total sense for Ivanka Trump to be President of the World Bank and be guarded by a machine guard armed robodog.
Politicians Red and Blue love PEU (much more than they care for voters). It's heartbreaking to repeatedly see people in power serve their "high class" peers at the expense of the common person, while stoking societal division with false tropes.
Update 10-22-21: The Biden team took up the notion that inflation and supply chain problems are not impacting real people.
Update 10-27-21: After nixing an increase in the corporate income tax rate Blue Corporacrats pulled the proposed billionaire tax. It's like Lucy with the football in Charlie Brown. It took months for Democrats to run up to the football, swing hard with their foot and land flat on their back.
Update 10-28-21: Senator Joe Manchin defended those beleaguered billionaires.
Update 11-2-21: Do billionaires fear the bezzle?
Update 11-9-21: Billionaire payback could involve automating jobs.
Update 11-10-21: Billionaires worry Senator Joe Manchin might not be around to protect them from fair taxation.
Update 11-11-21: Billionaires can breathe easier knowing House Speaker Nancy Pelosi has their back.
Update 11-22-21: Trump's estate tax cut saved billions for wealthy.
Update 4-4-22: Fortune reported:
While CEOs salaries rose 19% in 2021, the average hourly wage in the U.S. rose just 4.7% last year.
Klain was a recent guest on Bloomberg's The David Rubenstein Show.
Update 5-30-22: Billionaire Elon Mush tweeted
it is morally wrong and dumb” to use the word “billionaire” as a
pejorative, adding, “If the reason for it is building products that make
millions of people happy.” What if the reason for that billionaire is
decades of preferred taxation? What if that billion in wealth arose
from surprise medical billing?
