Sharing economy. Why we can't ignore growing income inequality. (1) - By Timothy Noah. Clarence the Angel: We don't use money in heaven.George Bailey: Comes in pretty handy down here, bub.
—Frank Capra's It's A Wonderful Life (1946) The Declaration of Independence says that all men are created equal, but we know that isn't true. George Clooney was created better-looking than me. Stephen Hawking was born smarter, Evander Holyfield stronger, Jon Stewart funnier, and Warren Buffett better able to understand financial markets. All these people have parlayed their exceptional gifts into very high incomes—much higher than mine. It is easy to make too much of this, and a few conservatives have done so in seeking to dismiss the importance (or even existence) of the Great Divergence. Inequality is good. Welch began by stating that "all of economics results from inequality.
But something close to the dystopia Welch envisioned already exists for those toiling in the economy's lower tiers. Income doesn't matter. Tell it to Colleen! Inequality doesn't create unhappiness. Chinese Professor. One Piece Of Moderately Good Economic News And 14 Pieces Of Bad Economic News That Are So Horrifying You Might Not Want To Read Them Standing Up. Today the financial world was buzzing with excitement because there was one moderately good piece of news for the U.S. economy. U.S. employers added 151,000 jobs during the month of October and the unemployment rate remained unchanged at 9.6%. This is certainly welcome news, but these days it seems as though there are at least ten pieces of bad economic news for every hopeful economic signal.
So don't get fooled when the U.S. economy takes one step forward, because it is about to take another dozen or so steps backwards. We are living in the middle of a nightmarish long-term economic decline that has been building for generations. The deindustrialization of the United States, the horrific trade deficit caused by globalization and the skyrocketing national debt are problems that have taken decades to develop. The more research that you do into our economic situation the more depressing it becomes. . #1 More than 42 million Americans were on food stamps during the month of August. Www.rense.com/Currency Wars For Dummies.pdf.
Michael Hoggard: Solomon’s Key Revealed, Masonic Secrets, Neo Nephilim Man, Remaking of Man Via Stem Cell Genetic Engineering…. « Socio-Economics History Blog. Bankruptcy of U.S. is ‘Mathematical Certainty,’ Says Former CEO of Nation's 10th Largest Bank. Senate Banking Chairman Chris Dodd (D. -Conn.) and House Financial Services Chairman Barney Frank (D. -Mass.) with President Barack Obama. (Associated Press photo) (CNSNews.com) - John Allison, who for two decades served as chairman and CEO of BB&T, the nation's 10th largest bank, told CNSNews.com it is a “mathematical certainty” that the United States government will go bankrupt unless it dramatically changes its fiscal direction.
Allison likened what he sees as the predictable future bankruptcy of the United States to the problems at Fannie Mae and Freddie Mac, whose insolvency he also said was foreseeable to those who studied their business practices and financial situation. “If you run the numbers, on all those numbers that you just talked about, which I think are accurate, very accurate, in 20 or 25 years, the United States goes bankrupt,” said Allison. “It reminds me very much of that story I told you about Freddie Mac and Fannie Mae,” said Allison. . “ We met with Congress.
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