Tag Archives | Banana Republic

United States Is Officially A Banana Republic

Banana USA In a recent opinion piece in the New York Times, Nicholas D. Kristof reels off some key statistics in confirming what most Americans have suspected for years —the United States has now become the largest banana republic of it’s kind, with the largest slice of income going to the smallest group of oligarchs.

The richest 1 percent of Americans now take home almost 24 percent of income, up from almost 9 percent in 1976.

As Timothy Noah of Slate noted in an excellent series on inequality, the United States now arguably has a more unequal distribution of wealth than traditional banana republics like Nicaragua, Venezuela and Guyana.

Not really breaking news, but he includes several helpful links to recent studies demonstrating the emotional toll of striving to achieve the hyper-riches of the Bushes next door, through higher divorce rates and forced moves to hunt down the more lucrative positions.

Continue Reading