N. Korea’s proposal to suspend nuclear tests ‘meaningful and significant’
RT | January 14, 2015
Pyongyang is ready to suspend nuclear tests if the US cancels annual military drills with South Korea, according to North Korea’s deputy ambassador to the UN, who once again reiterated the North’s offer.
“We the government of the DPRK propose to the US to temporarily suspend the joint military exercises which it conducts every year in South Korea. And if this is the case, we will respond by temporarily suspending nuclear tests which the US is concerned about,”An Myong Hun said in New York, as quoted by Inner City Press.
The deputy ambassador was also quick to blame Washington for the “division of the nation,” calling US foreign policy “hostile” towards the Democratic People’s Republic of Korea (DPRK), as every year the US conducts “dangerous military exercises” near the North Korean border.
“For this, the largest scale war exercises undertaken every year in South Korea, jointly by the US and South Korea, must stop immediately,” he said.
The North Korean envoy said it is “very important” to avoid the “danger of war,” as the US continues to permanently station 30,000 troops in South Korea.
Meanwhile, a two-day joint naval drill on South Korea’s east coast started on Tuesday and includes two US destroyers and several South Korean vessels. The USS Mustin and the USS John McCain, each with around 280 sailors on board, are leading the anti-submarine warfare drill. The drill also includes the South Korean destroyer Gwanggaeto, a submarine, anti-submarine aircraft, and two helicopters. The maritime exercise is reportedly aimed at boosting the allies’ readiness to fend off any potential threats from the North, which is believed to have some 70 submarines.
Last Friday, the communist North offered to suspend nuclear tests if Washington agreed to halt this year’s drills.
“The DPRK is ready to take such a responsive step as temporarily suspending the nuclear test over which the US is concerned,” KCNA said.
The US rejected the proposal with State Department spokeswoman Jen Psaki replying on Saturday that nuke tests and US-led drills are two separate issues.
“The DPRK statement that inappropriately links routine US-ROK [South Korea] exercises to the possibility of a nuclear test by North Korea is an implicit threat,” Psaki told reporters, calling on the North to “immediately cease all threats, reduce tensions, and take the necessary steps toward denuclearization needed to resume credible negotiations.”
North Korea insisted on Tuesday that the official proposal was made through “appropriate channels” and was “meaningful and significant.”
“By refusing to accept our proposal … the United States has shown once again that they will continue to increase attack military capabilities in South Korea while requesting us not to have our own national defence capabilities,” the envoy said.
Since 2006, North Korea has conducted three separate nuclear tests, the latest in February 2013. It has threatened to hold more tests in response to a United Nations resolution condemning human rights in the country.
McCain & other top officials accused of illegally visiting Syria
RT | January 6, 2015
Several senior US and French officials, including US Senator John McCain, entered Syria illegally – without proper visas – on separate occasions, thus violating the country’s sovereignty, Syria said in a complaint submitted to the United Nations.
The list of officials also included former French Foreign Minister Bernard Kouchner and former US diplomat Peter Galbraith, according to a letter dated December 30 cited by Reuters and AFP.
In the letter, Syria’s UN ambassador Bashar Ja’afari urged UN Secretary-General Ban Ki-moon and the Security Council to put additional pressure on governments to implement “the necessary measures against their nationals who enter Syrian territory illegally.”
“Such actions are a blatant violation of Syria’s sovereignty and of the resolutions of the Security Council concerning Syria,” Ja’afari said.
The letter included complaints from “certain journalists and prominent figures” entering Syria illegally, pointing out McCain’s visit to the country in June 2013, as well as Kouchner’s visit in November 2014 and Galbraith’s in December 2014, along with other US political and military leaders.
Former Kuwaiti politician Walid Tabtabai is also mentioned as making an illegal visit in September 2013.
At the time, McCain’s spokesperson only confirmed that the former Republican presidential candidate visited Syria in May 2013 to meet with Syrian rebels.
McCain responded to the complaint by downplaying the accusations, and in turn accusing Syrian President Bashar Assad of the “massacre” of his own people.
“It is a sad but unsurprising truth that the Assad regime is less concerned with its massacre of more than 200,000 men, women and children than it is my visit with those brave Syrians fighting for their freedom and dignity,” McCain’s statement said. “The fact that the international community has done virtually nothing to bring down this terrible regime despite its atrocities is a stain on our collective moral conscience.”
According to earlier media reports, McCain crossed into Syria in May 2013 from Turkey with General Salem Idris, who was in charge of the Supreme Military Council of the Free Syrian Army, and stayed there for several hours before returning.
During the visit, the senator met with leaders of Free Syrian Army units in Turkey and Syria.
McCain’s visit created a media storm, especially after a picture surfaced of him posing with allegedly IslamicState-linked jihadists (formerly ISIS/ISIL).
The original claim came from Kentucky Republican Senator Rand Paul, who accused McCain of unknowingly meeting with Islamic State fighters.
Among the Senator’s other controversial visits was a trip to Ukraine in December 2013 amid mass anti-government protests. During the visit, McCain met with Ukrainian opposition leaders in the country’s capital of Kiev, voicing his support for the protests, adding that he saw Ukraine’s future with Europe.
Also, back in 2011, McCain visited Benghazi to meet the Libyan rebels, calling them “my heroes.” McCain boldly stated that the fall of the ousted Libyan leader Muammar Gaddafi would inspire people all over world – including in Russia – which raised eyebrows globally.
“We believe very strongly that the people of Libya today are inspiring the people in Tehran, in Damascus, and even in Beijing and Moscow,” said McCain.
McCain’s travel tendencies landed him on Russia’s black list in March, part of Russia’s retaliation against US-led sanctions. The list bans the Senator along with other individuals from traveling to Russia as well as freezes any of his assets there.
Mass surveillance breeds self-censorship in democracies – report
RT | January 5, 2015
A study published by a top US literary organization on Monday, found that an increasing number of writers in democratic countries are censoring themselves due to fears about government surveillance.
The study entitled “Global chilling: The impact of Mass Surveillance on International Writers” surveyed 772 writers in 50 countries and concluded that writers and journalists are self-censoring for fear of reprisal.
A similar report published in November 2013 found that writers were “worried about mass surveillance, and were engaged in multiple forms of self-censorship as a result.”
A full report from writers around the world will be issued in the spring of 2015. As writers are considered to be the “canaries in the coalmine” therefore they are likely to give an accurate picture of the impact of surveillance on privacy and freedom of expression.
Writers living in democratic countries were found to be nearly as concerned as those living in non-democratic states with long histories of mass surveillance.
It found that while 61 percent of writers living in the countries labeled as ‘Not Free’ by Freedom House avoided writing or speaking about a certain topic because of government surveillance this was now true of 34 percent of writers in ‘Free’ countries.
“Writers are concerned that expressing certain views even privately or researching certain topics may lead to negative consequences,” the study concluded.
It also found that writers outside the US shared many of the same fears and uncertainties, particularly in the countries in the Five Eyes alliance of Australia, Canada, New Zealand, the UK and US.
One respondent said he “hesitated – and thought to answer very honestly – these questions.”
There was also a sharp decline in how writers viewed the US as a haven for free expression, with 36 percent of writers surveyed in so-called ‘Free’ countries believing that their own country offers better protection for freedom of expression than the US.
The Pen document ends with recommendations that the US government stops dragnet monitoring and the collection of US citizen’s communications. It also advises that collection of digital metadata be suspended and advises greater judicial, legislative and executive oversight of US intelligence agency programs.
It also pointed out that the US has to respect the privacy and rights to free expression of foreign citizens either in or out of the US.
“As the United Nations has repeatedly stated, the International Covenant on Civil and Political Rights, to which the US is a party, requires it to respect the human rights to privacy and free expression of all individuals affected by its surveillance programs,” the report says.
US plans to deploy armored brigade to Europe ‘pre-date’ Ukraine hostilities
By Robert Bridge | RT | December 31, 2014
By the end of next year, Washington plans to station about 150 tanks and armored vehicles in Europe, according to a US military commander, who said the decision was made before the Ukrainian crisis strained Russia-US relations.
Although no official announcement has been made as to where the armored tanks and vehicles will be stationed, possible locations include Poland, Romania or the Baltic States, Lieutenant-General Ben Hodges, commander of the US Army in Europe, told Reuters.
Hodges confirmed that around 150 pieces of assorted US military armor would be permanently stationed in Europe.
“By the end of … 2015, we will have gotten all the equipment for a heavy brigade, that means three battalions plus a reconnaissance squadron, the artillery headquarters, engineers, and it will stay in Europe,” Hodges said.
“You are talking about 150-ish, maybe 160 M1 tanks, M2 Bradley fighting vehicles, 24 self-propelled Howitzers.”
Hodges, who said he believes renewed hostilities will occur between pro-Kiev and rebel forces in the east of the country, said plans to send an armored brigade to Europe was first proposed two years ago, before the Ukrainian crisis erupted in January 2014.
Russia has firmly rejected Western accusations that it has sponsored military activities in Ukraine.
The move on the part of Washington will certainly provoke a reaction from Moscow, which has just agreed on a new military doctrine that lists the 28-member North Atlantic Treaty, which has been steadily encroaching on Russia’s borders since the collapse of the Soviet Union, and the United States, which has undertaken a series of military offensives deemed unconstitutional even by its own people, as “major foreign threats.”
The doctrine lists among major foreign military threats “the creation and deployment of global strategic anti-ballistic missile systems that undermines the established global stability and balance of power in nuclear missile capabilities, the implementation of the ‘prompt strike’ concept, intent to deploy weapons in space and deployment of strategic conventional precision weapons.”
Hodges said he expected the deployment of US armored vehicles to Europe to continue throughout 2015 and into 2016.
At least one-third of the armored vehicles will be stationed at US military bases in Germany, the US commander said.
The United States, despite recent breakdowns in its relations with its European allies – including a spy scandal that revealed the National Security Agency was tapping the personal mobile phone of German Chancellor Angela Merkel, as well as other high-ranking EU officials – continues to field some 30,000 Army troops on European soil, and about the same number of Air Force, Navy and Marine personnel, Hodges said.
The US commander said he hoped the number of US soldiers and military bases based in Europe – despite budgetary pressures from home – would stay at their current levels.
READ MORE: There to stay: US troops keep Poland, Baltic deployment for 2015
Outgoing senator urged to release full CIA torture report
RT | December 29, 2014
Calls for Sen. Mark Udall (D-Colorado) to reveal the entire, unredacted CIA torture report have increased, with a group of former intelligence analysts issuing a memo that urges the outgoing legislator to read the report on the Senate floor.
Veteran Intelligence Professionals for Sanity (VIPS) released the letter, asking Udall to use his constitutional protection as a still-sitting member of Congress to introduce the full 6,000-plus-page report by the Senate Intelligence Committee into the congressional record by reading it on the Senate floor. The current version is heavily redacted.
“We, the undersigned are veteran intelligence officers with a combined total of over 300 years of experience in intelligence work,” the letter begins. “We send you this open letter at what seems to be the last minute simply because we had been hoping we would not have to.”
“You seem on the verge of leaving the Senate without letting your fellow Americans know all they need to know about CIA torture,” the memo continues. “In the eight weeks since you lost your Senate seat you gave off signs that, during your last days in office, you would provide us with a fuller account of this sordid chapter in our country’s history, exercising your right to immunity under the “Speech or Debate” clause in Article 1 of the Constitution.”
VIPS is not the first to call on Udall to introduce the unredacted report into the congressional record. On November 5 ‒ the day after the incumbent senator lost his re-election bid to Republican Rep. Cory Gardner, and over a month before the Intelligence Committee published their findings ‒ Trevor Timm wrote an op-ed in the Guardian urging the “lame-duck transparency advocate” to grab the “rare opportunity to truly show his principles in the final two months of his Senate career and finally expose, in great detail, the secret government wrongdoing he’s been criticizing for years.”
The Speech or Debate clause in the US Constitution states that so long as legislators are “acting in the sphere of legitimate legislative activity,” they are “protected not only from the consequence of litigation’s results but also from the burden of defending themselves” from retribution from the government’s executive branch.
The senator has said he is considering the option.
“Transparency and disclosure are critical to the work of the Senate intelligence committee and our democracy, so I’m going to keep all options on the table to ensure the truth comes out,” Udall told the Denver Post in an interview.
“I mean, I’m going to keep all options on the table,” said Udall, when asked specifically about using his position in Congress to reveal the unredacted document.
Udall would not be the first to use his constitutional immunity to reveal classified materials on the Senate floor. In 1971, then-Sen. Mike Gravel (D-Alaska) released the Pentagon Papers – the secret official study that revealed the lies and manipulations of successive US administrations that misled the country into the Vietnam War. His action was in response to the Nixon administration’s move to block any further publication of the report and to punish any newspaper publisher who revealed the contents, after The New York Times published portions of the leaked study.
“From the floor of the senate, Gravel (a junior senator at the time) insisted that his constituents had a right to know the truth behind the war and proceeded to read 4,100 pages of the 7,000 page document into the senate [sic] record,”the biography on his website reads.
Gravel’s recitation lasted for three hours before he almost collapsed. He then entered thousands of more pages into the record after he couldn’t speak any longer from exhaustion.
The former Alaskan senator has also joined the calls for Udall to follow in his footsteps.
“If Udall wants to call me, I can explain this to him,” Gravel told the Intercept in early November. “What he’d have to do is call a subcommittee meeting like I did, late at night.”
The two biggest reasons not to do it, Gravel said, are no longer relevant.
“The biggest fear you have is peer pressure: What are my members of the Senate going to think of me? But I’ve got to say, if you lose office, like he has, he’s got no more peer pressure,” he said.
The Senate has rules against disclosing classified information, and could punish Udall with “censure, removal from committee membership, or expulsion from the Senate.”
Since Udall was already voted out of office, none of those punishments would affect him, Gravel noted.
Transparency advocates hoped that Udall would use his December 10 speech on the Senate floor, as Timm wrote, to “go out with a bang.” Instead, he blasted both the CIA and the White House over what the lawmaker considers to be complicity with regards to propagating long-standing lies about the United States’ use of torture against foreign detainees.
Udall’s last day as a US senator will be January 2. The 114th Congress begins the following day.
‘US military hardware will cause more bloodshed in Ukraine’ – Russian senator
RT | December 29, 2014
The possible relocation of US hardware from Afghanistan to Ukraine suggested by President Obama will only lead to more casualties, a senior Russian lawmaker has stated.
“Russia cannot be content with such plans as they would increase the tensions near our borders and also inevitably cause more casualties in Donbass,” the head of the Upper House Committee for Foreign Relations, Konstantin Kosachev, told reporters on Monday.
The senator added that such a step by the United States would be an open interference into the conflict, which would definitely lead to further aggravation both in Russian-American relations and within the security situation in Eastern Europe as a whole.
Kosachev also gave a critical appraisal to the allied mission in Afghanistan that is being wrapped up this year. The Russian lawmaker called the result of Western military presence in the country disappointing, noting that the military mission did not solve any problems in the region – but rather created a few new ones.
Earlier on Monday, a Russian Lower House MP also criticized Washington’s decision to transfer military hardware from Afghanistan to Ukraine, promising reciprocal actions from Russia. A member of the State Duma Committee for Defense and the chairman of the Russian Union of Afghanistan War Veterans, Frants Klintsevich (United Russia party) told reporters that he would use all his powers to initiate an official State Duma address to President Putin, seeking to start the supplies of Russian military hardware to the Lugansk and Donetsk republics.
In early December, MP Mikhail Yemelyanov of the leftist Fair Russia party said the US Senate’s decision to arm the Kiev regime should prompt “adequate measures” from Russia, such as deploying military force on Ukrainian territory before the threat becomes too high.
Yemelyanov also noted that in his opinion, the US Senate’s decision to arm Ukraine has revealed that Washington is not interested in the de-escalation of the Ukrainian conflict. “In a few years, Ukraine will turn into a poor and hungry country with an anti-Russian government that will teach its population to hate Russia. They will be armed to the teeth, and Ukraine and US reluctance to recognize the Russian Federation within its current borders would always provoke conflicts,” the MP noted.
On March 1 2014, the Upper House of the Russian Parliament – the Federation Council – approved a resolution allowing the president to use military force on the territory of Ukraine “until the normalization of the social and political situation in that country.” The resolution was adopted in accordance with the first part of Article 102 of the Constitution of the Russian Federation.
However, on June 25, the Federation Council voted to repeal the legislation following a request from Vladimir Putin. The Russian president instigated the move from a desire to alleviate tensions in view of the three-party talks on a peaceful settlement in the east and southeast of Ukraine.
Merkel staffer’s laptop infected by US/UK spy malware – report
RT | December 29, 2014
An aide to the German chancellor has become the victim of a cyber-attack, according to media. The highly-sophisticated Regin virus that was found on her infected USB stick is reported to be a product of British and US spy agencies.
Having written a draft of a speech at work, one of Angela Merkel’s senior staff members decided to take it home to polish it on her private laptop in the evening. When the head of the Department of European Policy brought the USB stick with the document back to her work computer, virus scanning software revealed that it was infected, according to Monday’s report of Bild newspaper.
The USB stick was infected with the Regin spying software, but additional checks revealed no other infections on any of the 200 other high-security laptops in the Chancellery, sources from German security services said.
Regin was first warned of at the end of November by cyber-security company Symantec. A back door-type Trojan is able to “provide its controllers with a powerful framework for mass surveillance.”
According to the report, the virus demonstrates such a “rare degree of technical competence” that indicates it has probably been developed by a nation state – and it could have taken years. Regin is able to fulfill a range of customizable tasks, such as making screenshots, controlling the mouse cursor and stealing passwords, depending on the target of a spying operation.
Media reports associated Regin with the US National Security Agency (NSA) and its British counterpart Government Communications Headquarters (GCHQ). The virus is believed to begin operating in 2008, targeting governments, infrastructure operators, researchers, as well as private individuals and businesses.
READ MORE:
Germany to drop investigation into US spying on Merkel – report
Sophisticated ‘state-sponsored’ spying tool targeted govts, infrastructure for years
Russia to counteract NATO’s boosted presence in Black Sea – envoy
RT | December 26, 2014
Moscow is being forced to come up with countermeasures in response to NATO’s increased presence in the Black Sea, Russia’s envoy to the alliance said following an announcement on the arrival of another US warship in the area.
“Unfortunately, the Black Sea is becoming a place where non-regional powers have a permanent presence. What they are doing there is unclear,” Aleksandr Grushko said.
“Of course, we will take the necessary countermeasures,” he continued.
Grushko also criticized the North Atlantic Alliance for stationing high alert forces near Russia’s borders by holding frequent military drills with counties including Poland and the Baltic states.
Russia’s new military doctrine, adopted on December 26, stresses that the country’s army remains a defensive tool, but lists NATO’s military buildup and the United States’ Prompt Global Strike concept as main security threats.
The USS Donald Cook is scheduled to boost NATO’s fleet in the Black Sea on Friday.
“Donald Cook’s presence in the Black Sea is meant to reassure and at the same time demonstrate our commitment to work closely with NATO allies in order to enhance maritime security,” Cmdr. Charles Hampton, the ship’s commanding officer, said in a statement.
This is the second time the USS Donald Cook has entered the Black Sea since the start of the Ukraine crisis which began in spring 2014.
The Arleigh Burke-class guided missile destroyer was previously stationed in the area in April.
NATO sent additional ships to the Black Sea after Russia’s reunification with the Republic of Crimea in March.
The USS Vella Gulf, USS Ross, USS Truxton, and the USS Taylor – as well as warships from other NATO member states – were spotted in the area.
In July, NATO deployed a total of nine vessels to the Back Sea, setting a record in the post-Soviet period.
Despite the Montreux Convention of 1936 allowing warships of non-Black Sea states to stay in the area for no more than 21 days, the alliance has managed to secure its presence by constantly rotating vessels.
READ MORE: Pentagon confirms military buildup along Russian borders for ‘peace and stability’
Security firm says Sony hack might have been an inside job
RT | December 25, 2014
Despite claims by the FBI that North Korea was behind the massive hack against Sony, several cybersecurity experts have come forward to raise questions about the allegation, with some suggesting that insiders at the company could be to blame.
One such expert, Kurt Stammberger from the Norse cybersecuirty firm, told CBS News that his team believes a woman identified only as “Lena” was heavily involved in the hack – not North Korea.
“We are very confident that this was not an attack master-minded by North Korea and that insiders were key to the implementation of one of the most devastating attacks in history,” he told the news outlet.
“Sony was not just hacked, this is a company that was essentially nuked from the inside,” Stammberger added.
Little is known about Lena, but Norse believes the woman is somehow linked with the hacking group behind the attack, known as the ‘Guardians of Peace.’ The firm also suspects the woman was a former employee of Sony who worked there for 10 years before leaving in May 2014.
According to Stammberger, Lena’s position in the company would have given her the access and knowledge needed to identify the servers that hackers ultimately stole troves of data from.
Stammberger didn’t completely rule out North Korea’s role in the cyber attack, but he told CBS that evidence pointing to the country could actually be a case of misdirection.
“There are certainly North Korean fingerprints on this but when we run all those leads to ground they turn out to be decoys or red herrings,” he said.
Last week, the FBI officially pinned the hack on North Korea, saying the breach involved lines of code, methods, and encryption algorithms previously developed by the country.
“Technical analysis of the data deletion malware used in this attack revealed links to other malware that the FBI knows North Korea actors previously developed,” the FBI said in its statement. “The FBI also observed significant overlap between the infrastructure used in this attack and other malicious cyber activity the US government has previously linked directly to North Korea.”
“Separately, the tools used in the SPE attack have similarities to a cyberattack in March of last year against South Korean banks and media outlets, which was carried out by North Korea.”
Still, some remain unconvinced. Cybersecurity expert Bruce Schneier wrote that the code used by the hackers seems “to point in all directions at once.” Looking at the evidence cited by the FBI, Schneier said it’s the kind that is “easy to fake, and it’s even easier to interpret it incorrectly.” He also cast doubt on the “insider threat” theory, arguing that such an individual wouldn’t need the hacking tools used to breach Sony’s servers.
Schneier noted that the FBI has not revealed all the reasons for its claim, though, and acknowledged that classified evidence could clearly point the finger at North Korea. Unless that evidence is known, it’s hard to say with any certainty.
Other possibilities include the idea that North Korea “co-opted” the initial attack after an embarrassing glut of information was made public, using that as an opportunity to strike Sony, as it was reeling and facing pressure to cancel ‘The Interview’ movie.
While Sony did cancel the premiere and release of ‘The Interview’ – a comedy which tells the story of a CIA plot to assassinate North Korean leader Kim Jong-un – it has since relented in the face of public criticism, which included harsh words from President Barack Obama. The movie is now available on streaming services and will be in theaters in limited release on Christmas Day.
Regarding the film’s release, a North Korean envoy to the United Nations said the country will condemn the decision but will not have any “physical reaction.” He added that the movie is an “unpardonable mockery of our sovereignty and dignity of our supreme leader.”
The diplomat also told the Associated Press that his country was not involved in the hack.
READ MORE:
FBI formally accuses North Korea in Sony hack
Senator urges Obama to host White House screening of ‘The Interview’
N. Korea threatens US, demands apology for Obama’s ‘reckless rumors’ of Sony hack
America’s wealthiest families smash income ceiling, middle-class left far behind
By Robert Bridge | RT | December 18, 2014
Despite, or because of, the fallout from the 2007 Great Recession, annual earnings between the richest Americans and everybody else have exploded to record levels. Meanwhile middle- and lower-class wealth growth remains stagnant.
The median wealth for high-income families hit $639,400 last year, a whopping 7 percent jump from three years earlier and seven times greater than middle-class incomes, which stood at $96,500 according to Pew Research Center, citing data from the Federal Reserve.
Middle-class median wealth, which Pew defines as the difference between the value of a household’s total assets and debts, has not advanced since 2010.
The financial chasm now separating the rich and everybody else is the widest since the Fed began tracking earnings 30 years ago, which became even more pronounced following the 2008 global financial crisis.
“The latest data reinforces the larger story of America’s middle-class household wealth stagnation over the past three decades,” Pew said. “The Great Recession destroyed a significant amount of middle-income and lower-income families’ wealth, and the economic ‘recovery’ has yet to be felt for them.”
Pew defines middle-income households – a broad grouping – as those earning between two-thirds of and double the median income, after adjusting for the number of family members living under one roof.
For example, a single individual living alone was ranked as middle income if his/her earnings last year were between $22,000 and $66,000. For a family of four to qualify as middle-income, earnings would have to be between $44,000 and $132,000.
According to this standard, 46 percent of US households last year fell into the middle-income category, while about 33 percent were considered lower income, and 21 percent high income.
Perhaps the most shocking bit of information skimmed from the data is the poor performance of the American middle- and lower-class wealth accumulation over the last 30 years.
For middle-income families, Pew reported “practically no change in wealth over the 30-year period.” The median wealth for the middle class was $94,300 in 1983. That peaked at $158,400 in 2007 and has since fallen back to $96,500.
At the same time, the wealth of lower-income families jumped to a high of $19,100 in 2001, but has since plummeted to $9,300 last year. Median wealth for this group stood at just $11,400 in 1983.
It should perhaps come as no surprise that the wealthiest US families showed the smallest percentage drop of wealth from the outbreak of the 2007 crisis to 2010.
Due in large part to their “disproportionately large stock holdings,” the upper-income class recovered a “substantial part” of losses sustained during the crisis – primarily due to government bailout packages that injected trillions of dollars into the market to shore up the financial system – while lower-income families saw no recovery.
Over the longer period, the average wealth of upper-income families recorded last year was about double what it was in 1983, when it stood at $318,100 to $639,400 in 2013, it reported.
Pew ventured to speculate that the wide wealth disparity between the classes “could help explain why…the majority of Americans are not feeling the impact of the economic recovery, despite an improvement in the unemployment rate, stock market and housing prices.”
In October, just 20 percent of Americans rated the country’s economic conditions as ‘excellent’ or ‘good’, the polling agency said, an increase from the 8 percent who said that four years ago, but far from an optimistic outlook.
READ MORE: Wealth inequality in US not seen since Great Depression – study
‘America needs a Perestroika’ – Gorbachev to RT
RT | December 15, 2014
The US needs reforms similar to those during Perestroika in the Soviet Union, Mikhail Gorbachev told RT’s Sophie Shevardnadze. The former Soviet leader also spoke about Washington’s policy of pressure and intervention into conflicts.
Gorbachev stressed the need for political and economic reforms in the US, saying “they need a Perestroika” (translated from Russian as “restructuring”), referring to the political movement carried out during his rule in the 1980s.
“They can call it any name they want, the American way,” he said, adding that “Americans do not want a war. But it is not easy for them, with the society that they have.”
The US uses tensions and instability to intervene into a conflict, then creates an enemy to enable their “policy of pressure” and shift responsibility, he said.
“Whenever tensions are high, whenever there’s instability in a certain country or throughout the region, it’s an opportunity for [the US] to intervene,” said Gorbachev.
“I am quite familiar with this policy from my own experience,” added the former Soviet leader. Gorbachev has come into the spotlight in recent months, warning Western and Russian leaders against dragging the world into a new Cold War amid the Ukraine crisis.
During his interview with RT, Gorbachev explained that there were always two sides to the conflict in the 20th century – “one was supported by the United States, and the other by the Soviet Union.”
“The US needs an enemy in order to return to their old policy of pressure. They can’t live without it. They are still enslaved by their old policy,” he elaborated.
Speaking on the Ukraine crisis, he said that the current situation is similar, with the US looking for “some pretext to interfere…they need an enemy figure, and they are doing it again.”
Watch the full interview with Gorbachev on RT’s SophieCo on Friday.
