The new American feudalism

As the corporate news media continues to fixate exclusively on the fates and fortunes of President Trump the Great Unraveling of America continues as does the acceleration of wealth concentration. Just as the news media’s inattention to the deterioration of the economic circumstances of tens of millions of America’s poor and working-class families all throughout the Obama years set the stage for Trump’s rise, their continuing inattention to this cohort is setting the stage for his reelection. They will say they did not see it coming.

The reality is, when you have the disappearance of $20 trillion in American household wealth through Wall Street’s predations it is going to have consequences for generations. The fact that this misery is largely being born by households of color and the marginal working class of all colors makes it all the easier to ignore in the polite society where the media elite hang on this latest palace intrigue. And while the assertion by the former Director of National Intelligence James Clapper that Russia threw the 2016 election by flipping tens of thousands of votes in three Rust Belt states is probably accurate, it doesn’t explain how those states got rusty in the first place and so vulnerable to Trump’s tropes about bringing back shiny steel.

Nowhere is the Great Unraveling of America more evident than in the deepening crisis of housing affordability. According to Harvard University’s Joint Center for Housing Studies report last year, the growing wealth inequality and concentration is playing out in the landscape and increasingly shaping the nation in a kind of 21st century feudalism.
– Salon