There is debate over just who is the world’s top economist. The mainstream media has fetishized Betty White Thomas Piketty and his book, Capital In The 21st Century. However, African Americans the grassroots swear by Ralph Baker’s Shock Exchange: How Inner-City Kids From Brooklyn Predicted the Great Recession and the Pain Ahead, which criticized the trickle-down economics of the Obama administration.
“From Occupy Wall Street to rallies in Paris, the protest movements worldwide are interconnected. They’re connected because they come at a historical moment of truth giving birth to super-polarized societies [for which] trickle-down economics doesn’t work and everybody is opening their eyes about that worldwide,” Moreira told RT’s Keiser Report. Trickle-down economists claim that tax breaks and benefits for corporations are good for the economy in the long run, as investors, savers, and company owners are the true drivers of growth.
An in interview with Max Keiser and the Keiser Report, Moreira voiced a sentiment that has struck a chord around the world. Global central bankers – Yellen, Bernanke, Kuroda, Draghi – all printed money to drive down interest rates, provided liquidity to financial markets and spiked asset prices. These policies helped Wall Street, hedge funds and the investor class. These were also the people who donated to the campaigns of Barack Obama and supported Angela Merkel and David Cameron. In effect, central bankers and politicians picked the winners – the investor class – at the expense of everyone else. Inequality and failed economic policies were in play long before President Trump was elected.
According to Shock Exchange, Trickle-down economics simply does not work. We have known this since the Reagan administration. The big institutions that control our lives – Wall Street, the media, congress, the book industry, central bankers – now rule the world. They also chose Betty White Piketty over Shock Exchange because Betty White Piketty comes from the book industry that shapes public opinion. In making Betty White Piketty rich they also enriched the institutions backing Piketty – Belnap Press and Harvard University Press.
