Fact: The USA Was Never a Democracy

For some reason, some people seem to think the USA was a democracy (or, is a democracy even today). They lament the fact that the oligarchary has taken over. Example from The Terrible Truth About Income Inequality : U.S. Senator Bernie Sanders (Independent-Vermont) recently asked Federal Reserve Chairwoman Janet Yellen a poignant question: “Are we still a capitalist democracy — or have we gone over into an oligarchic form of society, in which incredible economic and political power now rests with the billionaire class?” A democracy would have the concept of “one man, one vote,” of course. We are far, far from a true democracy. And, most political scholars say that's a very good thing. Of course, most scholars are disdainful of the masses and would dread having those people having a real vote. But, shouldn't we be planning for the day when the oligarchs are given their just desserts and the masses actually form a democracy? The Internet of Things is coming fast and we may actually be looking at a revolution where a true democracy can actually emerge from the ashes of capitalism. We'd better start planning for it.

Posted in: Wall Street Trading