Between 1975 and 2018, no less than $50T transferred from the working class to the elites. And this didn’t happen by accident but was the result of policy favoring global corporations.

So, how do we rework our values in a way that revitalizes the middle class?

How do we shift from a system that supports monopolies and cartels to one that places reasonable limits on the concentration of wealth and power?

Charles Hugh Smith is the author of 11 books on economics, finance, the Fed, healthcare, education, national debt, government policy and crony elites. He shares his thoughts on the blog Of Two Minds and his work is featured regularly at The Daily Reckoning.

On this episode of The Wiggin Sessions, Charles joins me to discuss the problem with policy that mandates the COVID vaccine and share his take on why the economy was already weakening prior to the pandemic.

Charles weighs in on how the government and the markets have abandoned the middle class, describing how current policy prioritizes corporate profits over national security and what we can do to set reasonable limits on the concentration of wealth and power.

Listen in for insight on how innovation and opportunity flourish in the right systems and find out why ‘doom and gloom’ is the first step in escaping our dependence on long supply chains and corrupt power nodes.

Key Takeaways

The problem with policy that mandates getting the COVID vaccine

Why Charles believes the US economy was weakening prior to the pandemic

How political policy prioritizes corporate profits over national security and maintaining the middle class

The need for transparency, competition and adaptability in the markets

How America’s greatness stemmed from the opportunity to turn labor into capital and why that’s lacking now

The benefits of the current trend to decentralize and re-localize

How our dependence on long supply chains and a handful of nodes makes us vulnerable (and why ‘doom and gloom’ is the first step in finding solutions to this problem)

Charles’ concerns around the decline of morality in America

How Charles thinks about the role faith plays in building a future of common values

Charles’ call for reasonable limits on the concentration of wealth and power and how he applies this idea to social media

Connect with Charles Hugh Smith

Of Two Minds

Connect with Addison Wiggin

Consilience Financial

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Resources

The Daily Reckoning

‘I Went to a Party with 14 Other Vaccinated People; 11 of Us Got COVID’ in The Baltimore Sun

Mayo Clinic Data on the Prevalence of the Delta Variant

Rand Corporation Research on Trends in Income from 1975 to 2018

‘Testing Theories of American Politics: Elites, Interest Groups and Average Citizens’ in Cambridge University Press

The Theory of Moral Sentiments by Adam Smith