Really unprecedented im if you look at total inequality its like the worst periods of really unprecedented im if you look at total inequality its like the worst periods of American History. Of. American history. But if youre a find it more closely inequality. But if youre find it more closely the inequality comes from the extreme wealth in a tiny sector of the population comes from the extreme wealth in a tiny sector of the population fraction of one percent. Fraction of one percent. There were periods like the gilded age in the twentys and the early ninetys there were periods like the gilded age in the twentys and the early ninetys. And so on when a situation will rather similar to this. Now this period and so on when a situation developed by the similar to this. Now this period 6 trillion because if you look at their Wealth Distribution to inequality its extreme because if you look at their Wealth Distribution the inequality mostly comes from super wealth. Mostly comes from super wealth. Literally the top 110th of a percent or just. Literally the top 110th of a percent are just super wealthy. Not only is it extremely unjust super wealthy. Not only is it extremely unjust in itself. Inequality has really negative consequences on the site itself. Inequality has really negative consequences on the so is all. Because the very fact of inequality is a whole. Because the very fact of inequality has a corrosive harmful effect ackerson. That it has a corrosive harmful effect ackerson. Do open but. Do open by talk about the American Dream part of the American Dream is close mean diluting it willing to talk about the American Dream part of the American Dream is close mean deluded it will encourage to work or get rich it was possible for a worker were to work or get rich it was possible for a worker to get a decent job. Get a car to go get a good decent job. Get a car children go to school. So collapse. Talk labs. Were. The measure use of innit. Imagine yourself in an outside position looking for mars. What do you see outside physician looking for mars. Would he see. Me. In the United States where there are protests like the mockers in the United States where there are professed like democracy. In a democracy Public Opinion is going to have some. In a democracy Public Opinion is going to have some influence on policy. Influence on policy. And then the government carries out actions determined by the population. And then the government carries out actions determined by the population and thats what democracy means. Mission and thats what democracy means. Its important to understand that privileged and. Its important to understand that privileged and powerful sectors have never liked democracy and for very good reason our full sectors have never liked democracy and for very good reason. Democracy puts power into the hands of the general public. Democracy puts power into the hands of the general population and takes it away from them. And its kind of elation and takes it away from them. And its kind of the principle of concentration of wealth and power. Principle of concentration of wealth and power. Concentration of wealth. Concentration of wealth yields concentration of power particularly so as the cost of yields concentration of power particularly so as the cost of elections skyrockets which kind of forces the Political Parties of elections skyrockets which kind of forces the Political Parties into the pockets of major corporations. And this political patently. Pockets of major corporations. And this political power quickly translates into legislation that increases the concentrate our quickly translates into legislation that increases the concentration of wealth so fiscal policy like tax policy ration of wealth so fiscal policy like tax policy deregulation. Rules of Corporate Governance deregulation. Rules of Corporate Governance a whole variety of measures political measures designed to a whole variety of measures political measures designed to increase the concentration of wealth and power which in turn the yield increase the concentration of wealth and power which in turn the yield more political power do the same thing. And thats what more political power to do the same thing. And thats what weve been seeing. So we havent seen. So we have this kind of vicious cycle in progress. That we have this kind of vicious cycle in progress. You know actually it is so traditional. You know actually it is so traditional that it was described by adam smith in 776 he read that it was described by adam smith in 1776 he read the famous wealth of nations. The famous wealth of nations. He says in england the principal architects of policy are the people. He says in england the principal architects of policy are the people who own the society in his day merchants and manufacturers. In the society in his day merchants and manufacturers. And they make sure that their own interests are very well cared for and they make sure that their own interests are very well cared for however greed is the impact on the people of england there are others however greed is the impact on the people of england there are others. Now its not a merger of manufacturers its. Now its not a merger of manufacturers its Financial Institutions and multinational corporations the people who f. A Natural Institution multinational corporations the people who adam smith called the masters of mankind and their fellow adam smith called the masters of mankind and theyre following the vile maxim over our selves and nothing for anyone else. The vile maxim over for selves and nothing for anyone else. Theyre just going to pursue policies that benefit them and. Theyre just going to pursue policies that benefit them and harm everyone else. And in the absence of a general popular harm everyone else. And in the absence of a general popular reaction thats pretty much what youd expect. Reaction thats pretty much what youd expect. Right through American History theres been an ongoing clash between American History theres been an ongoing clash between. Pressure for more freedom and democracy coming from below. Pressure for more freedom and democracy coming from below and efforts that elite control and domination coming from above and efforts that elite control and domination coming from above. Could. Goes back to the founding of the country. Spec to the founding of the country. James madison the main framer who was as much of a believer in democracy is James Madison the main framer who was as much of a believer in democracy is anybody in the world that they nevertheless felt that the United States system anybody in the world that they nevertheless felt that the United States system should be designed and indeed with his initiative was designed them should be designed and indeed with his initiative was designed so that power should be in the hands of the wealthy. Because the will so that power should be in the hands of the wealthy. Because the wealthy are the more responsible set of men and therefore the structure of the all thier the more responsible set of men and therefore the structure of the formal constitutional system placed most power in the hands of the senate the formal constitutional system placed most power in the hands of the senate or the senate was not elected in those days it was select from the wealthy or the senate was not elected in those days it was selected from the wealthy men as madison put it had sympathy for Property Owners in their right menace madison put it had sympathy for Property Owners in their right. If you read the debates at the constitutional court. You read the debates at the constitutional convention. Madison the major concern of the society and then. Man is it the major concern of the society it has to be to protect the minority of the opulent against the majority it has to be to protect the minority of the opulent against the majority. And hear arguments. And hear argument suppose everyone had to vote freely as they will the majority of the poor get those everyone had to vote freely as they will the majority of the poor get together and they would organize to take away the property of the rich and his together and they would organize to take away the property of the rich and he said that would obviously be unjust she cant have that so therefore the constitutional system has it that would obviously be unjust she cant have that so therefore the constitutional system has to be set up to prevent democracy. To be set up to prevent democracy. Which is of some interest. Which is of some interest that this debate has a hard tradition goes back to the 1st major both did this debate as a hari tradition goes back to the 1st major book on political systems aristotles politics. Political systems aristotles politics. He says of all of them the best is democracy at any point out he says of all of them the best is democracy at any point out exactly the flaws that medicine pointed out. Gently the flaws that medicine pointed out. If athens were a democracy for free men the poor would get together. If athens were a democracy for free men the poor would get together and take away the property the rich. Well same dilemma take away the property the rich. Well same dilemma they had opposite solutions or start over posed what we would nowadays call welfare they had opposite solutions or start over posed what we would nowadays call a welfare state and try to reduce inequality. State and try to reduce inequality. So same problem after to look. So same problem after that solution one is reduce inequality will have this problem and the other issue one is reduce inequality will have this problem and the other is reduced democracy. Because reduced democracy. If you look at the history of the United States. If you look at the history of the United States its a constant struggle between these 2 tendencies democratising tend it is a constant struggle between these 2 tendencies democratizing tendency thats mostly coming from the population pressure from below and you get this and see thats mostly coming from the population pressure from below and you get these come. Battle going on periods or gratian periods of progress in 1960 constant battle going on periods or gratian periods of progress in 1906 for example were a period of significant democratization. For example were a period of significant democratization. Sectors i think elation. Sectors i think elation that were usually passive and the city became more of that were usually passive and the city became organized acted started pressing their demands. Managed acted started pressing their demands. And they became more and more. And they became more and more involved in Decision Making and activism and so on. Is just involved in Decision Making and activism and so on. It just changed consciousness and. Changed consciousness in ways. Minority. Minority rights. We dont why are. We dont why are. They need. Why dont we did. This why dont we did. This the needy one of the. Womens rights. Womens rights to men. If we force it to say. Well. If we force it to say. Yes in terms of the you think that america is. In terms of the you think that america is. Nice or i got my own safety thats. Nice or i got my own safety nets provide the solution to creation im free to those who criticize us on the militancy abandon this issue of creation im true to those who criticize us on the militancy bonder said they are serious about lawn on the bridge provided the be of me said they are serious about lawn on the bridge provided in the vietnamese people for our own black people and for our own what people can turn for other people people for our own black people and for our own what people can turn for other people one day we must ask the question on a 1000000 poor people in america one day we must ask a question on a 1000000 poor people in america when you begin. To raise an oppressed amount when you begin. To raise an impressive amount the Economic System about the broader distribution of wealth the question of research in the system about a broader distribution of wealth the question of restructuring. In society this rule civilizing sharing. In society this rule civilizing that city. That caused great fear. That caused great fear. I had. Anticipated the power of i had. Anticipated the power of a should have but i didnt anticipate the power of the reaction to the civilizing i should have but i didnt anticipate the power of the reaction to the civilizing effects of the sixtys i did not anticipate the strength of the effects of the sixtys i did not anticipate the strength of the reaction to it. Reaction to it. The backlash. The backlash. Quick to dismiss a bus to. Practice with a bus to run out of what was i guess at the columbus them its just the bullets youre looking just. At the columbus them its the bullets youre looking its not enough. Enough. See him do you have seen him if you can call sial pussy. See him do you have seen him if you can also post. Look up with a showing at the brentwood ships going to see is lost when the chit. He looked at with a showing of the where scully sing is lost when the shit. He think of shit you know youre pushing 30. Well think of shit you know youre pushing 30 to float up shipping. Yep and most of the book is to put up shipping. Yep and most of the book hit the wall were for the foreseeable much still missing notes i dont know what that will work for the foreseeable much still missing notes i dont know what the all. Or. If. It was the latest loses in the plus. Stuff no worries and it was the latest news in the pub us. At arsenal boys im all right so yeah ive put this was going to say. Right there yet ive put this was going to just a. Little fish through the summer in the store oh yeah the soul food. Where students are in the store oh yeah the soul food. To madge and then a 635 and you have a but imagine being on a 635 and you have a what career and career involves using your i phone in your computer career and career involves using your i phone in your computer and. They could be in an office. Perhaps you sort of getting to meet sister and things like that in an office. Perhaps she sort of getting going to see circular to have to stop doing all this in this kind of you lose her kids. Are going to have to stop doing all this in this kind of you lose her minutes before. My world became smaller and smaller and smaller and for me its mostly for my world became smaller and smaller and smaller until i ended up learning it in a box. Very strong i ended up learning it in a box. Very strong magnetic field. You know in my head. Its like a real magnetic field. You know in my head. Its like a real hard pressure my skin burned and that Wireless Access Point hard pressure my skin burned and that Wireless Access Point here just continues on saying with our students in the schools theyre just continuous on saying with our students in the schools. We are just continually faith in our citizens in this. We are just continually faith in our citizens in this microwave radiation it is certainly electro small and its getting worse its microwave radiation it is certainly electro small and its getting worse. For people who are printing the money dont rely on taxes to get wealthy. People who are printing their money dont rely on taxes to get wealthy theyre not part of a real economy thats the same thing as saying that rulers of saudi arabia are not part of a real economy thats the same thing as saying that rulers of saudi arabia for a long. On the wages of the People Living in saudi arabia they get rich they rely on the wages of the People Living in saudi arabia they get rich they they dont they just print more or pump more oil sell in the america that they dont they just print more or pump more oil sell in the america the princes that run our economy just print more money they dont need the workers they dont need their tax francis that run our economy just print more money they dont need the workers they dont need their taxes thats why they dont have wage growth thats why theres been that this aeration this thats why they dont have wage growth thats why theres been that this aeration as there are needed. As there are needed. There has been an enormous. There has been an enormous concentrated coordinated business offensive beginning in the seventys to concentrated coordinated business offensive beginning in the seventys to try to beat back the golan tarion efforts that went right through the nixon to try to beat back the golan tarion efforts that went right through the nixon years you see it in many respects and over on the right you see it in things like yours you see it in many respects and over on the right you see it in things like the famous powell memorandum. The famous powell memorandum. To the chamber of commerce major business. Leaders Supreme Court just sent to the chamber of commerce major business. Leaders Supreme Court justice. How warning them that business is losing control over the society is how warning them that business is losing control over the society. And something has to be done the cadi. And something has to be done to counter these forces corsi puts it in terms of defense defending ourselves after these forces course we put it in terms of defense defending ourselves against outside power. Against outside powers. If you look at it its a call for business to use it. If you look at it its a call for business to use its control over resources to carry out a major offensive to beat back the control over resources to carry out a major offensive to beat back this democratizing wave. Production wave. Over on the liberal side something exactly similar. Over on the liberal side something exactly similar the 1st. Major report of the trial lateral the 1st. Major report of the trial Lateral Commission