SpaceX and upcoming AI IPO's will turbocharge the wealth gap

21st century snake oil is about to change all the rules and your future is about to underwrite the risk whether you like it or not.

The tech ‘jam tomorrow’ revolution is about to use your rainy day pot to eliminate your job and create new economic slave colonies for the top 0.1%. The top 10% will be allowed to come along for the ride while the oligarchs find a way to fleece them too. As for the rest, get used to being grateful for the crumbs from the rich man’s table in feudal America.

If you look at what’s about to happen with SpaceX and the upcoming IPO’s for Anthropic and OpenAI, you can draw only one conclusion: the corporate coup is all but complete. The legislators have been bought and paid for, and the Supreme Court majority has joined them. The 21st century ‘final solution’ is now underway. Look upon healthcare, affordable housing, and childcare, along with a living wage, as a metaphorical rainforest, because all are in peril. The oligarchs and their complicit legislators are the loggers paving the road for their insatiable greed-fest.

The social safety net ecosystem is being systematically destroyed at the altar of power and control. In a tragic twist of irony, the Democratic establishment has over the years turned from gamekeeper to poacher. The bottom 90% have become the hunted, while the vulnerable and the working poor have become economic targets for sport; they’re the Christians being thrown to the lions under this regime. The rats in the barrel.

We now inhabit a rich man’s ‘jam tomorrow’ world, where DOGE and Tariff Dividends never materialised, because they were merely a fairytale to convince the gullible that they too could share in the proceeds from the suffering of others. I’m utterly exhausted from peeing into the wind and getting soaking wet, while people pretend it’s not really as bad as I assess it to be. Believe me, IT’S BAD.

It’s the same argument that was used to support the belief that the US had not reached a Constitutional crisis, as the goalposts are moved to convince ourselves that the cavalry is coming. IT’S NOT, and anyone who thinks it is should seek some medical help.

I am utterly speechless at the thought that it is still perceived as a hill to climb for Democrats to take back the Senate. Given the level of corruption and pleasure the regime derives from imposing cruelty on those unable to defend themselves, it should not even be a thing that the Democrats MIGHT win back the Senate. It should be a sure-fire bet for God’s sake. Yet here we are.

Image - The Independent/Getty Images

Every decent human being should be abandoning this regime because of the political pile of corrupt, toxic waste it has dumped on the American people. However, just as in 2020, after Trump’s reckless, incompetent handling of COVID-19, which resulted in the unnecessary deaths of over 200,000 Americans, political tribalism will likely ensure the results will be close again in November, and the endless culture wars will continue. It’s like banging your head against a brick wall; it’s predictably painful and seemingly pointless.

What makes it worse is that it absolutely doesn’t need to be this way, but I’m afraid politics is no longer in the hands of ‘people first’ elected representatives. Far too many on both sides of the aisle are now on the payroll of corporate special interests. The lunatic right Dark Enlightenment movement has now installed its Red Caesar, and democracy has been all but extinguished, while the gullible gobble down their free Trump narcotics daily as prescribed by their Dealer in Chief. Since when did MAGA become the opiate of the masses? Sigh….

If I get one comment with the same tired ‘Don’t tell us how bad it is, tell us how to fix it,’ I will scream. I’m sick of repeating myself while trying to battle the crippling US disease that is the inability to tolerate inconvenience. Governments govern by consent; that’s how it works. The top 10% have no interest whatsoever in any change taking place, because the shareholder class are doing nicely, thank you. The US economy is built on consumer spending. Smart, sustained, targeted abstinence could bring the government to its knees before the midterms, but the addiction to spending is the gift that keeps on giving to the regime. Did you know that wealth inequality in the US today is strikingly similar to that on the eve of the French Revolution?

The wealth Gini coefficient in France at the time was between 0.8 and 0.9, with the top 1% and 10%. In the US today, the wealth Gini coefficient is 0.85, with the top 1% of US households owning around 33% of the nation’s private wealth. This is almost a mirror image of 1787 France.

For context, the wealth Gini coefficient is:

A statistical measure that quantifies the inequality of assets and net worth (total wealth minus debt) across a population

In the context of my argument, it’s important to use the above wealth measure rather than the income coefficient because the 0.85 figure captures net wealth—assets, real estate, and investments. The Gini coefficient is delivered in two measures. Wealth inequality, as shown above, and income inequality, which is the version measured today by The World Bank DataBank and the OECD Income Distribution Database, use the metric to track socioeconomic trends.

It’s not my intention to confuse or bore you here; I’m simply trying to combine both historical and contemporary context to try to find different ways to provide the evidence that the American people are being exploited beyond measure. What truly sickens me is that under Democrats, you just get exploited a little less, and that should provide pause for thought. I’m no revolutionary leader, just a pragmatist across the pond with a deep understanding of and interest in creating a better society for future generations. If you would like to compare the US wealth gap with the rest of the world, you can find the data here. For reference, the higher the Gini coefficient, the bigger the wealth gap.

I am blessed to have the benefit of understanding both the US political system and the UK Parliamentary system, which are very different, making it easy to compare and contrast. I certainly don’t want to get into a debate with constitutional scholars on the comparisons or lack thereof because that’s not the aim of this piece and is a debate for another day. My aim is simply to share my thoughts, with the benefit of living in a parliamentary system of government. Unfortunately, neither system is exempt from creeping corporate influence, which appears to have infected global politics in general.

What is indisputable is that the wealth gap lies at the very heart of the current affordability crisis, independent of the Iran War. It’s my honest belief that the failure to recognise its extent and understand the socioeconomic impact cost the Democrats the 2024 election. Democratic strategists were blind to the creeping affordability crisis for those in the middle and the bottom. The campaign chose to focus on ‘the middle class’, many of whom had nothing left but their middle-class name tag, because the top 10% have been the beneficiaries of their economic decline for years. The Harris campaign simply failed to read the room and ignored the screams of the traditional working-class voters, who were screaming that they couldn’t afford to feed their kids.

There’s no point crying over spilt milk, as they say. However, to ignore this systemic socioeconomic rupture is to repeat the same mistake again in November and, more importantly, in 2028. This is what leads me to believe that without transformative change, all that will happen is that corporate Democrats will merely pay lip service to the problem and continue with more of the same, just with some brakes attached.

I’ve said it before; it’s time for an ice bath to wake people up, because this sleepwalking into economic slavery is definitely not a good look. If there was one clip EVERY American should see today, it’s this one below from the outstanding team at More Perfect Union

What’s about to take place to make Elon Musk a trillionaire looks set to be the largest single transfer of wealth to the top 0.1% in history. The exact same mechanism will then be used when the big AI companies go public this year. The rules have been rewritten to make it legal for the oligarchs to steal money from your retirement fund, and the clip explains how it works. They are simply rewriting the rules as they go, removing safeguards and exposing everyday Americans to unacceptable downside risk. A risk that has the potential to devastate retirement plans and index-based ‘safe’ investments, as those at the top are given a license to raid pension pots of some already struggling Americans.

The wealth gap is about to go nuclear, and you’re invited to watch as your plans for retirement become part of a game of economic Russian roulette, and it’s totally legal. THE TRANSFER WILL BE MADE FROM YOUR RETIREMENT FUND or any index investments Americans might hold outside of a retirement fund. This means it WILL hit some of the shareholder class. This will then curb their spending, which is currently propping up the US economy.

All this is before we discuss any bailout for the AI giants if the AI bubble bursts. Make no mistake, the apex predators at the top of the economic food chain have got all the angles covered, and they look set to ensure that average hard-working Americans pick up the tab if THEIR gamble fails. This is not an attempt to democratise share ownership as it will be portrayed; it’s a sleight-of-hand economic parlour trick to compensate for the scepticism of professional investors who are not prepared to take the risk on the tech bros. They have locked up their wallets, so it’s your pockets. Musk, Altman and crew will be picking to live their government-sponsored de-risked dream.

THIS is why independent reporting is critical at a time when trust in government and the media they now control is at an all-time low. Truth has become the enemy, and the often fickle and frail support for real independent reporting just plays into the regime’s hands. This kind of work can only be done with your help, I’m afraid.

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