Who says unbridled, unregulated capitalism does not produce prosperity?
Of course, unregulated capitalism produces prosperity.
For a tiny sliver of the population – The Bankers, Lobbyists, Corporate Titans and the Politicians.
As for the rest, let them eat grass.
That’s what more and more Americans will be increasingly reduced to.
We’ve already read reports of Americans foraging for mushrooms and other food substances outside.
A record 46.2 million Americans were living in poverty in 2010, the highest level in the 52 years for which poverty estimates have been published, the U.S. Census Bureau said today.
America’s official poverty rate in 2010 was 15.1%, up from 14.3% in 2009 ─ the third consecutive annual increase in the poverty rate.
So, is it any surprise then that food banks across America are straining to meet requests from unemployed Americans and their familes.
Feeding America’s network of food banks distributed 3.1 billion pounds of food in 2010, an increase of 500 million pounds over 2009.
Hey, that’s not all.
Nearly 50 million Americans, a sixth of the population, struggle without health insurance.
Other highlights of the Census Bureau report:
* At 27.4%, the poverty rate for Blacks was more than double that of Whites (13%)
* Hispanic poverty rate of 26.6% was also more double that of Whites
* Poverty rate for children under 18 increased to 22% (16,401,000 children) in 2010
* By region, the South had the highest poverty rate (16.9%) and highest number of poor (19.07 million)
The two tables below tell a poignant tale of America’s inexorable, irreversible decline: