Nevermind the Gap

There's a gap in the chart! Jeff Snider at Eurodollar University has a video where he discusses "real personal income excluding transfer receipts" (think government handouts), which fell "off trend" in 2020 and hasn't recovered. Transfer payments backfilled the gap for a time. Here's his chart:

I fear the "off-trend" has become the new trend. Perhaps people in 2020 were rioting for the wrong reason.

I blame "Cronny Class Consciousness" and the governing philosophy of "Feudalism with the Right People in Charge" for the developing economic malaise.

At its center, the Crony Class consists of politicians, hacks, bureaucrats, and those who acquire power through their ability to influence government action -- the lawyer, lobbyist, and dark-money crowd. This group took to heart the advice of Scarface, "first you get the power, then you get the money, then you get the girl." Confusingly, we now have to add the lawyer/lobbyist girls who want to be "the man" while still blaming "the man" when the man is actually, you know, a man.

The outer ring includes those who benefit from government action, such as corporations that fear bureaucratic overreach or seek government favor or the education establishment which devours government resources while avoiding societal accountability. To this add the legions of minions whose livelihoods depend on promoting Crony Class Interests, such as MSM Journalists (not to be confused with reporters), aspiring academics (not to be confused with actual scientists), and "house experts" (not to be confused with people who know what the hell they are talking about). The tentacles of this class reach far and wide, and gives the appearance of "Nerds working for Sociopaths."

"Crony Class Consciousness" allows them to act as a unit to protect class interest with a minimum of actual coordination. They framed Donal Trump (a minor threat) as a Russian agent for three years, knowing it was bunkum from day one. When it no longer played, the media Emily Litellas said, "never mind," and moved on to the next set of feeble accusations class members are required to promote. Objectively, these are the actions of horrible people. Subjectively, they have their reasons. This beast is hungry and needs to be fed. Those gaps in the charts are just the start.

"Feudalism with the Right People in Charge," says the rulers should come from an accredited, pseudo-intellectual caste (the true nobility of the mind), not a military one. The philosophy provides the justification for the rule of the Crony Class (i.e. Climate Change requires their control of resources) and the rationale for keeping their "expert" descendants in charge (having a lot of kids -- which will expand family contacts in an influence-peddling system -- is frowned upon). Diversity-Equity-Inclusion is sold as the ability to include but is actually the power to exclude. Everyone should get in their place and stay there. Mind the Queue.