BIDEN'S DEMOCRATIC PARTY, THE ECONOMY, AND SOCIAL INEQUALITY

 The question of the Democratic Party is how can it ask citizens to vote for it on an utterly disastrous record amid a weaker economy than both the government and the pro-Wall Street media have been advertising? Besides an absence of social development and erosion of the social safety net by a president who promised to protect it, the Biden militarist team has pursued a foreign policy rooted in a collision course with most of the planet over Ukraine, Israel, and South China Sea, merely because pro-Zionist and Wall Street corporate interests are deriving ephemeral benefits while realizing their ideological agenda.

According to the Organization for Economic Cooperation and Development, the US ranks number one in poverty rate among the world’s 26 most developed countries. The UN Children’s Fund (UNICEF) statistics indicate that the US ranks second behind Mexico on “relative child poverty” when measured against 35 of the world’s richest nations. Based on statistics from World Inequality Report of 2022, the US ranks 71st out of 166 countries, right below Iran and right above Senegal, Africa, with the richest ten percent of its population owning roughly half of the entire wealth, while the bottom 50% own just 13%.

America no longer has a dream to which it once aspired under the Keynesian economic development model because the neoliberal experiment has transferred massive amount of wealth from the bottom 90 percent to the richest 10 percent without any prospect for reversal. Furthermore, not just the economy and Wall Street are rigged, as Senator Bernie Sanders often claims, but the entire institutional structure from government to media and education.

Like the decline of the Roman Empire and the British Empire, the decline of America is systemic owing to multidimensional causes mostly linked to domestic decadence brought about by the elites driving economic, social and foreign policy intended to strengthen capital at the expense of labor. This is not about to change because the social structure will remain as is, and the business and political elites driving policy will not alter course, as some hope.

A slow process, imperial decline is often defaulted to external factors when in fact, it is always owing to internal dynamics. Biden was chosen by Wall Street to manage the decline by protecting the privileged richest 10% against the 90% who continue to experience deterioration of their socioeconomic status and lack of upward mobility for their children. On the road to decline, the country will move increasingly toward authoritarianism and greater inequality with far greater social chaos and militarism as a solution to internal structural problems. Biden or Trump makes very little difference to the larger structural problem of a declining America and rising income inequality comparable to Senegal.