Fed Chair Janet Yellen Admits America Is an Oligarchy
Published on May 8, 2014
Still think we’re a Constitutional Republic with a sound democratic process here in ‘Murica? Think again. The head of the Federal Reserve just basically admitted we are an oligarchy — where wealth is concentrated into the hands of the few rich elitists in the billionaire class and all the real power in this country has concentrated with it. Average, everyday citizens have a negligible amount of say in what goes on in this country and the policies that effect their daily lives. We are an oligarchy.
If you really need a study to tell you that, see this one fresh out via Princeton and Northwestern University which found, “When the preferences of economic elites and the stands of organized interest groups are controlled for, the preferences of the average American appear to have only a minuscule, near-zero, statistically non-significant impact upon public policy.”
Full Study: http://www.princeton.edu/~mgilens/Gil…
Source: http://cnsnews.com/news/article/susan… (includes Yellen testimony video…
I can’t find the title statement confirmed anywhere here. The headline at cnsnews.com says she is ‘unsure’ if ‘capitalism or oligarchy describes the US’. It’s a really important distinction as I think we should be careful with making clams that then can’t be substantiated.
I am assuming that those of us who read the site here are familiar with the aspects of the situation and have a good understanding of what it is really about but newcomers may be put off by inaccurate claims.