Will Theresa May and Donald Trump Solve the #1 Challenge of Our Time?

by John Brian Shannon – Originally posted at LetterToBritain.com

UK Prime Minister Theresa May was invited to the White House on January 27 to be the first foreign leader to meet with the new American president, Donald Trump.

It’s always an honour to be the first invitee of the new president, and the timing couldn’t be better as the Western economic order is beginning to churn.

In the West, the past 70 years have been a relatively stable era with increasing wealth (although since the Reagan-era tax cuts, obscene inequality has become a destabilizing force) and social mobility has increased dramatically since the creation of the internet.

This combination could prove extraordinarily useful to motivate leaders to provide the kind of leadership required of the times — or 2017 could prove to be the pivotal moment in the unravelling of the Western democracies.

President Trump wasn’t elected U.S. president because American citizens were bored by the Democrats.

Americans voted Trump/Pence to overthrow the existing plutocracy in Washington, not to overthrow foreign governments.

Regardless how many Middle Eastern conflicts the West has prosecuted, the rich keep getting richer and the poor keep getting poorer. But this time the problems are here at home, not in some faraway country.

Americans voted for Barack Obama (2008 and 2012) and now Donald Trump (2016) in large part to stop the unfolding economic disaster in the West. Britons may have held similar ideas to American voters about a sustainable economic plan when they voted for Brexit.

Will Prime Minister of Britain Theresa May and President of the United States Donald Trump work together to solve the existential challenge of our time? Image displays the share of the world’s total wealth for the Top 1% vs. the Bottom 99%. Image courtesy of OXFAM
Will Prime Minister of Britain Theresa May and President of the United States Donald Trump work together to solve inequality, the existential challenge of our time? Image displays the share of the world’s total wealth for the Top 1% vs. the Bottom 99%. Image courtesy of OXFAM.

The chart below (from 2010) reveals the bottom 80 percent of Americans share just 7 percent of the nation’s wealth, but it’s much worse now (in 2017) and this phenomenon is no longer confined to the United States.

Theresa May must work with Donald Trump to roll back record inequality
Britain’s Theresa May must work with U.S. president Donald Trump to roll back record inequality that will eventually destroy the entire middle class. You can see the bottom 80% compete for only 7% of America’s total wealth. (This image is from 2010. It’s actually much worse now)

That trend will not change until politicians are bigger than the challenges that confront them, and actually do something about the record inequality sweeping the West.

It’s not a call to ‘do something, anything, anything at all’ — as some so-called ‘solutions’ might be worse than the problem.

But what citizens of the Western nations require is an acknowledgement by politicians of the sheer scale of the problem, and some initial steps to slow the rapid transfer of wealth away from the bottom three quintiles to the top 1 percent. (Even tiny baby-steps are preferable to the decades-long stony silence on the matter)

Theresa May and Donald Trump must ensure that globalization and free trade work for everyone.
Britain and the United States must ensure that globalization and free trade work for everyone. Image courtesy of the New York Times, You can’t feed a family with GDP by Neil Irwin.

Inequality ignored, will only result in citizens ‘giving up’ on their governments and ‘giving up’ on democracy — and we know how that will end. Badly. For everyone.

Including powerful politicians who serve for amazingly short stints of time in office. Once you’re in politics, four years pass by like a long summer!

Today’s toxic combination of ultra-low taxes on the rich and unrestricted globalization aren’t working for 3/5ths of the population. In 10 years, it won’t be working for 4/5ths of the population. And let’s remember, all of them are voters.

Here’s how that looks

In 2016, more than 50 percent of the world’s wealth was owned by the 1 percent.
By 2030, more than 70 percent of the world’s wealth will be owned by the 1 percent.
By 2045, more than 85 percent of the world’s wealth will be owned by the 1 percent.

Put another way; Do you really want to live in a world where 8 billion people are fighting over the then-remaining 30 percent of the world’s wealth?

Can you imagine what it’s going to look like in 2045 when 9 billion people are fighting over the then-remaining 15 percent of the world’s wealth?

At that time, you’d better be living on an island in the mid-Pacific that doesn’t appear on any map, in a castle with 100-metre high concrete walls.

I respectfully suggest to Prime Minister Theresa May and President Donald Trump that if inequality isn’t addressed this year, it’ll be too late. Just look for a remote island in the Pacific Ocean… now, before the rush begins.

The time involved in getting new legislation passed, combined with the lag time involved for it to take effect during the following fiscal cycle, is years after the day it is first discussed.

Can Theresa May and president Donald Trump cooperate to solve record inequality.

Let’s hope that January 27, 2017 will come to be known as, ‘The day the decline of the bottom-three quintiles was halted and reversed’ by these two great leaders.

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Why Build a Better World?

RePosted from JohnBrianShannon.com
by John Brian Shannon

Imagine for a moment the unforeseen has occurred, and lying in the middle of the road is your body covered by a white sheet.

Yes, you got hit by a bus only minutes ago. And now, body-less for the first time in your existence, your spirit is hearing the words of the ‘keepers of spirits’ as you watch the paramedics put your body into the Ambulance.

They tell you that you’ll sleep for 20-years and then be awoken in time to be born in the normal manner, but to a different set of parents, exactly 20-years from today. Happy Birth Day!

Oh, and, this part is important. You won’t have any of your present memories, you may be born anywhere in the world, you may be a different ethnicity or gender, you may be born within any socio-economic group — and your parent or parents might be the poorest on that particular continent or the richest, or anywhere in between. All these variables and more will be matters of chance.

For now, let’s assume that the above paradigm is true.

But what if you died and came back tomorrow?

‘Well’ you say, ‘It depends where I was born, and how highly my parents rank in that country.’

If you came back tomorrow; There’s only a 1 percent chance that you’d be a brand new member of the 1 percent. Did you know that the 1 percent manage to exist on more than $1179. per day, per person? How do they manage it?

Some 29 percent of the people alive today live between $10. and $1178. per day, per person.

And there’s a 71 percent chance that you’d be born into a family that lives on less than $10. per day, per person. That’s our world in 2016.

Know your annual income?
Find out which percent group you belong to on this interactive CNN chart

You found your goat! Image courtesy of Mongolia on Pinterest.

You found your goat! Image courtesy of Mongolia on Pinterest.

Today, you’re more likely to be born into poverty, maybe living on the desolate Mongolian steppes.

Hey! In your previous life you always liked goats and always wanted to pet one. Now you can be a goat-herder for the next 64 years! Which is the average life expectancy of Mongolian males who live in yurts (tents) on the edge of the Gobi Desert.

Or be reborn as one of the Roma, the poverty-stricken people who roam Europe in sight of sumptuous luxury every day, but never able to experience it.

Or maybe you’re born into a Muslim family trapped in present-day Syria. Better start studying that Koran as soon as you learn to read, I hear they don’t tolerate slackers there.

On the bright side, you have a 29 percent chance of being born into a family that exists on anything between $10. per day, per person and $1178. per day, per person. You rock!

Just remember that you won’t get to choose any of this, nor prepare for it in advance. It’ll be completely random. Nor will you have any memories of your previous life.

What if you came back 20-years from today?

One wonders what kind of world will exist 20-years from now. Hopefully, you’ll be one of the people who used your time wisely in this decade to help create a better future for all humanity — not only for yourself and your immediate family — but for people who are being born on every continent, at every economic strata.

If you knew today that you were going to be reborn in 20-years with a family and country chosen for you at random, what would you do today to help create a better future for all humanity?

In 2016, 7.4 billion people live on this planet and 1 percent of the world’s population own more than 50 percent of the world’s total wealth.

But in 2035, 8.8 billion people will live on this planet; And if present trends continue, the 1 percent will own more than 80 percent of the world’s total wealth.

Leaving only 20 percent of the world’s total wealth to be distributed between the remaining 8.7 billion in 2035.

If you expect to be alive in 2035, let’s hope you’ve used your time wisely in this decade to help create a better future for all humanity.

Share of the world's total wealth for the Top 1 percent and the Bottom 99 percent. Image courtesy of OXFAM.

Share of the world’s total wealth for the Top 1 percent and the Bottom 99 percent. Image courtesy of OXFAM.