So, it's not just the United States, Income Inequality has grown the most in most countries since the 1980's.
The gap between rich and poor increased in three-quarters of countries in the Organization for Economic Cooperation and Development over the last two decades, the group said in a report today
Seems social mobility is also frozen and the few countries where economic equality has improved are France, Greece and Spain. The United States income inequality gap has grown exceedingly.
I would swear I was reading our blog. But nope, it's CBS Market Watch calling all of America a bunch of idiots, sucker punched into giving up trillions and it doesn't really matter who becomes President.
Yes, we're dummies. You. Me. All 300 million of us. Clueless. We should be ashamed. We're obsessed about the slogans and rituals of "democracy," distracted by the campaign, polls, debates, rhetoric, half-truths and outright lies. McCain? Obama? Sorry to pop your bubble folks, but it no longer matters who's president.
Literally Farrell is saying Wall Street just subverted Democracy and indeed it has. Is Farrell reading us?
The U.S. government and New York Attorney General Andrew Cuomo opened a joint investigation into the $34.8 trillion credit-default swap market, the top federal prosecutor in New York said
Might be a scapegoat witch hunt though for they are targeting short sellers.
Mr. Cuomo and Mr. Garcia are investigating whether investors drove up the price of swaps in transactions that were reported to data providers but never actually completed, according to people briefed on the investigation. If so, that would have helped anybody who sold short financial shares. In a short-sale, investors sell stocks they do not own in the hopes of buying them back later at a lower price.
Will this ever cease? One can debunk these people over and over, yet I guess because corporate lobbyists pay so well, more misinformation gets puked out than fact.
We have yet another idiotorial claiming if one floods the nation with guest workers, immigrants, magically the housing crisis will be solved.
Anyone notice that if the unemployment rate is dropping, magically the US needs more immigration, yet if the unemployment rate is spiking....the US needs more immigration?
In my last diary, I explained how an increase in the money supply faster than the rate of inflation, coupled with a "positively sloped bond yield curve 12 months prior, which has in the past always indicated the ending of a recession, appeared to be going positive now. A much more detailed explanation, with supporting graphs going back about 50 years, of this "Kasriel recession indicator" can be found here. While almost all financial indicators are based strictly on the post World War 2 inflationary period, the "Kasriel infallible recession predictor" accurately "predicts" the 1929 downturn, the 1933-37 and 1939-41 expansions.
Happy Monday, folks, I do hope you all had a good weekend! Welcome to another installment of Manufacturing Monday! Now things are looking bad out there, as many of you probably already know. We start out with more dire jobs news at GM. Turning to some good news, it seems economic forces that made us "costly" has now turned the tables of sorts, with ironically the biggest pusher of China, Wal-mart (or is it Walmart? I've seen this store both ways.) forcing suppliers to look domestically. Lastly, we got Honda moving more work to North America. But first, as is par for the course, we get to the latest economic info related to manufacturing. So without further adieu...
Earlier this week David Sirota wrote what I think is the best column I've ever seen on an important topic in American politics: the role of class in American politics and how the GOP has been able to capture the votes of working class whites. Let's be clear, it wasn't grand strategy by the Republicans that resulted in the white working class exiting the New Deal Coalition. It was the utter arrogance of the gang of liberal elitists that have seized the mainstream party of the American Left from the working class.
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