07:03 GMT +319 January 2019
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    Divesting the Middle Class

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    Max Keiser, Stacy Herbert
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    On today’s episode of Double Down, Max Keiser and Stacy Herbert talk to Charles Hugh Smith, author of “Pathfinding our Destiny: Preventing the Final Fall of Our Democratic Republic.”

    As many celebrate the Christmas holidays, Double Down talks to Charles Hugh Smith, author of "Pathfinding our Destiny: Preventing the Final Fall of Our Democratic Republic," about his thoughts on neo-feudalism. He explains that this new form is informal and not institutionalized, unlike the rigid structure of the feudalism in the Middle Ages. We now have the illusion of social mobility and political power, but, in fact, our economic system has divested the middle class of the opportunities for security, prosperity, political power and wealth; this has been achieved by offloading risk from owners of capital onto wage earners. Part of how this is achieved is through the ‘theatre of pantomime' whereby the elite play as if they are in disagreement and real debate is happening, but, in fact, there is remarkable stability of elite power. The author is reminded of the Rampart magazine cover from the 1970s, "The Last Christmas in America." So what next? Tune in to hear more.

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    feudalism, Middle Class, Economic System, economy
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