And this is a Nobel Prize economist…more government…more government…more government. Hey pal…it is because of more government that we and so many other countries are in this predicament!  Read this:

The United States is in the midst of a vicious cycle of inequality and recession: Inequality prolongs the downturn, and the downturn exacerbates inequality. Unfortunately, the austerity agenda advocated by conservatives will make matters worse on both counts.

The seriousness of America’s growing problem of inequality was highlighted by Federal Reserve data released this month showing the recession’s devastating effect on the wealth and income of those at the bottom and in the middle. The decline in median wealth, down almost 40% in just three years, wiped out two decades of wealth accumulation for most Americans. If the average American had actually shared in the country’s seeming prosperity the past two decades, his wealth, instead of stagnating, would have increased by some three-fourths.

In some ways the data confirmed what was already known, but the numbers still shocked. We knew that house prices — the principal source of saving for most Americans — had declined precipitously and that trillions of dollars in home equity had been wiped out. But unless we understand the link between inequality and economic performance, we risk pursuing policies that will worsen both.



2 replies
  1. Avatar
    Tim says:

    Hey, how about you’re both wrong. The inequality is because of crony capitalism. You pad my wallet I’ll pad your’s as we step on all the “little” people (wage slaves of corporations and taxpayers).

    Small government won’t fix that, and big (corrupt) government will just reinforce it.

    The real solution is enforcing the laws we already have along with a select few more to specifically restrain the cronyism through a functioning enforcement and judicial system.

    Without that your just pointing out each other’s flaws with nothing being fixed.

    Down with Republicans, down with Democrats. Down with Conservatives and down with Liberals. Identifying ourselves as such creates the perfect distraction while we all get robbed.

  2. gary kaltbaum
    gary kaltbaum says:

    Tim…who said I agree with Republicans…in fact, you and I agree close to 100%…

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