Adam Taggart excerpts David Stockman‘s new book:
The rise of Trump – and Bernie Sanders too – vastly transcends ordinary politics. In fact, it reaches deep into a ruined national economy that has morphed into rank casino capitalism under the misguided policies and faithless rule of the Washington and Wall Street elites.
This epic deformation has delivered historically unprecedented set-backs to the bottom 90% of American households. They have seen their real wealth and living standards steadily deteriorate for several decades now, even as vast financial windfalls have accrued to the elite few at the very top.
In fact, during the last 30 years, the real net worth of the bottom 90% has not increased at all. At the same time, the top 1% has experienced a 300% gain while the real wealth of the Forbes 400 has risen by 1,000%.