"Obscene Wealth” with Greg Godels & Pat Cummings
Coming From Left Field podcast published June 17, 2025
Warm Greetings:
Last evening, the night before our morning podcast taping, I got an email from the publisher saying our guest needed to postpone. Greg and I decided to hop on a Zoom call anyway to catch up on CFLF business. I said, "While we're here, let’s discuss your recent article, ‘Obscene Wealth’ in ML Today.” I hit the record button, and that is this podcast.
The article was published three weeks ago and has been reposted by several prominent websites, resulting in broad readership. ‘Obscene Wealth’ is based on economist Gabriel Zucman's research on U.S. wealth inequality. Zucman reveals that in 2024, the wealth of the top 0.00001% (19 households) increased by $1 trillion, surpassing Switzerland’s GDP. The top 10% possess 67% of the wealth, while the bottom 50% hold just 3%, which leads to economic and political marginalization. The article argues that capitalism inherently concentrates wealth, reinforcing class divisions between capital owners and workers.
A few topics we cover in our conversation include:
Why wealth inequality is worse than income inequality—and how it strangles democracy.
The death of the middle class: From thriving factory towns to hollowed-out economies.
Cold War secrets: How post-WWII prosperity was a fluke (and why it collapsed).
Why both Democrats & Republicans serve the ultra-rich (hint: lobbyists, gerrymandering, and media control).
Possible answer: Replacing capitalism with socialism is presented as a viable solution.
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As a spontaneous podcast without the usual preparation time, I felt this discussion was quite good. It sheds much-needed light on our economy running amok and democracy being undermined while an elite club of the ultra-rich is unrestrained.
Peace,
Pat