Widening Income Disparities

[Toro]

I present this without comment (for now).

According to Société Générale economists, the inflation-adjusted income of the highest-paid fifth of US earners has risen by 60 per cent since 1970, while it has fallen by more than 10 per cent for the rest. As was recently pointed out in the New York Review of Books, the Walton family, of Wal-Mart fame, is wealthier than the bottom third of the US population put together – about 100m people.

http://www.ft.com/cms/s/0/e23c6d04-659d-11de-8e34-00144feabdc0.html?nclick_check=1

 

[strollingbones]

seems to say it all....

 

[mascale]

The total credit market is variously estimated at $40.0 tril., to $60.0 tril., according to "Generally Accepted Accounting Principles," in place at the Federal Reserve Board--and apparently at MGM, Fox, Disney, Sony, Dreamworks, and at the House that Homer Simpson built(?), Klasky-Csupo--or however.

The plunge of Total Asset values of the U. S. in the last few weeks is variously put at the $12.0 tril., or so, range. Studio execs understand about banking values, in America.

At any rate, with no clue at all--there is now a 60 member majority in the U. S. Senate which is less than that, and no concept of what to do about it. The fringe GOP calls to audit the Federal Reserve fall flat. The United States has no concept of what it has, or what it owes.

It does have laws on the books. They tend to raise incomes a fixed percentage, and on an annual basis. They are found in contractual pay raises through unions, or through the savings, dividend, and interest agreements. They are found in the transfer payment, and social insurance, COLA's. They are found in teacher pay, in their COLA's, both. The rich get richer, and the poor get more poor--because that is the law. The distance between all the income levels increases with every computing.

Nobody, apparently, knows that!

In our newer age of information technologies: It is long-standing doctrine that, "Nobody knows anything anymore."

Just watch Warrent Buffet try to understand Business and Economics--and then anyone can conclude, "Is it any wonder?!"

Lawyers, especially, know nothing! The entire West Wing: Knows absolutely nothing! And in the residence quarters, well. . . .(?)!

"Crow, James Crow: Shaken, Not Stirred!"
(What does anyone say about an economic system, after all: That has done so very much for so many--it not altogether, in relative terms!)