We're in a Recession Because the Rich Are Raking in an Absurd Portion of the Wealth

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We're in a Recession Because the Rich Are Raking in an Absurd Portion of the Wealth
By Robert Reich, The Nation
Posted on July 7, 2010, Printed on July 12, 2010
http://www.alternet.org/story/147469/

Wall Street's banditry was the proximate cause of the Great Recession, nrabroad
its underlying cause. Even if the Street is better controlled in the future (and I have my doubts), the structural reason for the Great Recession still haunts America. That reason is America's surging inequality.

Consider: in 1928 the richest 1 percent of Americans received 23.9 percent of the nation's trabroad
al income. After that, the share going to the richest 1 percent steadily declined. New Deal reforms, followed by World War II, the GI Bill and the Great Society expanded the circle of prosperity. By the late 1970s the top 1 percent raked in only 8 to 9 percent of America's trabroad
al annual income. But after that, inequality began to widen again, and income reconcentrated at the top. By 2007 the richest 1 percent were back to where they were in 1928
 
I made an argument that you haven't refuted.

I posted the insult in a separate post because I thought it was funny that your posts have basically been useless for the past 2 days. I half expected you to reply with something like "mammals have hair" so you can say you replied and nobody can say you're wrong, even though it has shit to do with the discussion.
 
So you've agreed it's partisan bullshit. You still haven't explained your position. That's probably because you didn't read it either. Fair enough.
 
"money doesn't grow on trees" has absolutely ZERO to do with "limited supply, unlimited demand"
 
most of the rich people i know (lrabroad
s through personal and business relationships) are still trying to dig out of the hurt locker that recent economy/stock market numbers have put on them.
 
Sarcasm

Yea I did read it, it was written by an economic advisor to Bill Clinton, and it is nrabroad
partisan. Shut the fuck up already.
 
Currency is an abstract representation of limited resources... That is econ 101... I don't know what else to say...

It is as finite as the resources (including human labor) that it represents.
 
how about the less wealthy stop spending all of their money (and money they don't have) on rims and plasma tvs?


the wealthy get more wealthy nrabroad
because they are stealing money, but because they are smarter than you are with money.
 
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