The “powers that be” are currently planning for and working on a Great Feudalist Reset wherein top cronies get to stay filthy rich while the rest of us paupers must suffer in squalor, but we are gaslighted and told:
“You will own nothing, and be happy!”
To clarify, feudalism is “ownership-by-the-few” whereby favored barons and nobles are the landlords and the people by and large “own nothing.” An example of feudalism can be found in the United Kingdom during the 1800’s:
Globalist elites would like to restore such feudalism, but this time on a world-scale, rather than merely in any single nation. Besides being extremely unfair, a big problem with feudalism is that it makes economic growth impossible.
After the government gets big and powerful enough, rich elites coopt it and begin to extract “economic rent” from the everyday citizen. Central spending and regulation help the few at the expense of the many.
In 1910, hardly either existed. Government was small and unobtrusive, but the bottom half of America was doing well because of raking in over 15% of the national income:
Critics and detractors may ask about the peak of 1969, when the bottom half earned over 21% of national income. But the bigger question is:
How did they lose that huge share?
Examining what went on with government at the time is helpful in this regard.
Government Spending
As you can see from above, one big reason why the lower half of America began losing out is that all-levels government spending rose to 35% of GDP — displacing the private investing and spending which had been creating jobs and allowing people to climb the economic ladder.
Another big reason is the slew of impediments placed in the way of people via excessive government regulation:
Just prior to 1969, over 40,000 pages of government regulation were imposed on US citizens. By 2016, US citizens suffered under a suffocating 180,000 pages of federal laws.
Elites love it when there is central spending and regulation, because they game the system so as to be the primary beneficiaries in either case. But as said before, such feudalism stifles growth.
Free up the Markets (Capitalist Reset)
To get economic growth, you’d follow the advice of Austrian economist, Ludwig von Mises, and implement 4 steps:
low government spending
low government regulation
sound money
free trade
If those 4 steps get followed, life improves. The USA existed for more than a century and a half without ever needing 40,000 pages of federal law, or all-levels government spending that was as high as a quarter of GDP. We didn’t even need fiat money.
The advice of Mises was good advice then and is good advice now.
If, instead, we hurl ourselves toward the Great Feudalist Reset, then half or more of America will become so poor that instead of having any positive wealth, all we will have is net debt hanging over our heads— like was true in 2016:
You can even see decline in the affordability of a living standard from 1985, when the free market advocate, Ronald Reagan, was in office:
Even just getting back to “1985” would prove helpful for millions of Americans who are suffering to make ends meet today.