This video features Robert Reich discussing his new book “Aftershock: The Next Economy and America’s Future”, likening what we’re facing today with the Great Depression and holding out hope that we can reform our political economy before a more reactionary politics takes over.

In a new article called The Perfect Storm, he lays out the historic threat we are currently facing and warns that we are losing our democracy and slipping into plutocracy, or rule by the wealthy.

It’s a perfect storm. And I’m not talking about the impending dangers facing Democrats. I’m talking about the dangers facing our democracy.

First, income in America is now more concentrated in fewer hands than it’s been in 80 years. Almost a quarter of total income generated in the United States is going to the top 1 percent of Americans.

The top one-tenth of one percent of Americans now earn as much as the bottom 120 million of us.