The Pandemic, the Economy, Politics, and the Ongoing Income Inequality in the USA

 The Rich Are Cheering Wall Street’s Latest Records. Americans of Modest Means Are Draining 401(k)s. - Inequality.org

The bottom 50% of income earners in the USA hold only 0.6% of the country's stock holdings.  The poorest 90% hold only 11.8% of the nation's stocks.  The richest one percent hold 52.4% of all stocks.  That's all according to the Fed Reserve.

Due to the pandemic, the Super-Rich are doubling and tripling their incomes.  Those people of modest means are draining their 401k accounts just to pay the bills.  Meanwhile, the politicians have stopped providing relief... or even talking about it with each other.

As I've pointed out in the past, the Great Depression of the 1930's was not so named until halfway through it.  For about five years, people believed it was just a short-term glitch that would disappear very soon.  It should be clear by now that currently we are in a full-blown economic Depression.  Politicians, in particular, need to wake up to that fact.  GDP (loved by the Powers-That-Be as a measure of national well-being) in the USA fell by just shy of 33% in the Second Quarter of this year.

I'm getting the impression that a majority of people believe the vaccine will correct the situation.  For a variety of reasons, don't count on it.  One of those reasons is this:  the covid virus mutates rather quickly.  Another reason:  no vaccine in history ever has been so RUSHED as this one.  Despite the reassurances of everyone involved, that means there's perhaps a 50-50 chance of a monumental problem.  Another reason:  it's highly likely that many small businesses have closed for good.  Vaccine or not, they won't be back.  That's mainly due to dithering or dogmatic politicians.  Another reason:  millions of our fellow Americans still believe covid is no big deal.  That's a serious hindrance to getting back to some sort of "normal".  

If ever again, "normal" is most likely 2-5 YEARS down a rough road ahead.  Why do I say that?  Because of my academic education and field experience in biology, human ecology, and environmental geography.  Is the "2-5 YEARS" prediction guaranteed?  Of course not, it's an educated guess.

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Not only my opinion.  Be Well