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Keyword: inequality

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  • The Dow just hit 20,000, but half of America missed out

    01/25/2017 11:59:39 AM PST · by SeekAndFind · 24 replies
    Yahoo Finance ^ | 01/25/2017 | Myles Udland
    On Wednesday, the Dow Jones Industrial Average traded above 20,000 for the first time. This barrier, which is more important psychologically than it is for actual investment decisions, had been in the market’s sights for over a month after the post-election rally that followed Donald Trump’s election sent stocks to new records. Unfortunately, however, many Americans missed out. Back in April 2016, Gallup conducted its latest annual poll showing that just 52% of American adults owned stocks, via either individual issues, mutual funds, or self-directed 401(k) plans. This matched the lowest ownership level in Gallup’s 19-year tracking of this measure....
  • Inequality and Skin in the Game

    01/14/2017 3:03:02 AM PST · by oblomov · 14 replies
    Medium ^ | 27 Dec 2016 | Nassim N. Taleb
    There is inequality and inequality. The first is the inequality people tolerate, such as one’s understanding compared to that of people deemed heroes, say Einstein, Michelangelo, or the recluse mathematician Grisha Perelman, in comparison to whom one has no difficulty acknowledging a large surplus. This applies to entrepreneurs, artists, soldiers, heroes, the singer Bob Dylan, Socrates, the current local celebrity chef, some Roman Emperor of good repute, say Marcus Aurelius; in short those for whom one can naturally be a “fan”. You may like to imitate them, you may aspire to be like them; but you don’t resent them. The...
  • UK's May says inequality drives voters to extremist 'fringe'

    01/09/2017 7:22:43 AM PST · by Olog-hai · 6 replies
    Associated Press ^ | Jan 9, 2017 9:01 AM EST
    British Prime Minister Theresa May says mainstream politicians must address the insecurity and inequality spawned by globalization or see voters turn to “fringe” voices on the left and right. May says the “politics of division and despair” is spreading across Europe because centrist politicians have failed to ensure that the benefits of free markets are distributed widely. …
  • Inequality Is Still the Defining Issue of Our Time [TPP/TRADE IS UNEQUAL]

    10/13/2016 3:42:17 AM PDT · by expat_panama · 4 replies
    The Nation ^ | October 12, 2016 2:41 pm | Robert L. Borosage
    Opponents of the Trans Pacific Partnership protest outside the White House. (Reuters / Gary Cameron) In 2011, President Obama, speaking in the wake of Occupy Wall Street, called inequality the “defining issue of our time.” Now Jason Furman, chair of the Council on Economic Advisors, argues that Obama “narrowed the inequality gap” more than any president in 50 years... ...Don’t take down the barricades. Inequality remains extreme and continues to widen... ...report measures Obama’s reductions against what inequality would have been if George Bush’s policies had been sustained through the Great Recession... ...the richest 1 percent continue to pocket the...
  • Hollywood inequality is 'entrenched', study suggests

    09/07/2016 9:35:41 AM PDT · by Ennis85
    BBC News ^ | 7th September 2016 | BBC News
    Dubai Municipality has, for the first time in the Middle East, launched a robot as a rescuer on public beaches for the security and safety of beach-goers in the emirate. Alya Al Harmoudi, Director of the Environment Department at DM, said: "The move is also in response to Dubai government directives to keep up with the latest technologies and innovations in this area as well as to ensure that all the necessary requirements and precautions are in place to enhance the rescue operations on the public beaches of Dubai." The robot, which can reach a speed of 35 Kph, or...
  • Robert Shiller's Inequality Confusion Is a Catastrophe for Economists

    09/01/2016 4:43:23 AM PDT · by expat_panama · 14 replies
    Real Clear Markets ^ | September 1, 2016 | John Tamny
    Economist Robert Shiller predicted in a recent New York Times piece that economic inequality "could become a nightmare in the decades ahead." He believes that the very economic evolution that has always led to higher living standards for all "could lead us into a world in which basic work with decent pay becomes impossible to find." Shiller cites the proliferation of robots to allegedly bolster the previous statement. Shiller's limp arguments are a reminder of why we should approach the musings of economists in much same way we do the projections of palm readers. To see why Shiller is promoting...
  • Compensating Differences

    08/03/2016 5:02:11 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | August 3, 2016 | Walter E. Williams
    What economists call an ability to make "compensating differences" is a valuable tool in everyone's arsenal. If people are prohibited from doing so, they are always worse off. You say, "Williams, I never heard of compensating differences. What are they?" Jimmy Soul's 1963 hit song, "If You Wanna Be Happy," explained the concept of compensating differences. His lyrics went: "If you want to be happy for the rest of your life, never make a pretty woman your wife. So from my personal point of view, get an ugly girl to marry you." His point was that an ugly woman would...
  • Democrats will meet in a city of great economic inequality

    07/24/2016 9:42:00 PM PDT · by Olog-hai · 17 replies
    Associated Press ^ | Jul 24, 2016 1:29 PM EDT | Kathy Matheson
    When the Democrats come to the City of Brotherly Love to nominate Hillary Clinton for president and the talk turns to income inequality and the 1 percent, Exhibit A will be right outside their windows: Philadelphia itself. The nation’s fifth-largest city is rebounding, filling some Philadelphians with an unfamiliar sense of civic pride. And yet it struggles with the gap between rich and poor that Sen. Bernie Sanders decried during his campaign against Clinton, with 26 percent of residents living in poverty, the highest rate among the 10 biggest cities in the U.S. The July 25-28 convention creates an opportunity...
  • UN report: Tackle inequality to prevent children from dying

    06/27/2016 6:02:22 PM PDT · by Olog-hai · 26 replies
    Associated Press ^ | Jun 27, 2016 8:32 PM EDT | Edith M. Lederer
    The U.N. children’s agency warned Monday that 69 million youngsters under the age of five will die from preventable causes between now and 2030 if all countries don’t accelerate action to improve health and education for the most disadvantaged. UNICEF said in its annual report that based on recent trends and projected population growth, 167 million children will also live in extreme poverty, 60 million won’t be attending primary school, and 750 million women will have been married as children by 2030 unless inequality is tackled now. …
  • Income Inequality

    06/10/2016 7:03:13 AM PDT · by george76 · 24 replies
    Elle's Economy ^ | June 2016
    The phrase Income Inequality has become a standard battle cry for politicians these days, with the implicit assumption that inequality is a bad thing, but is the basic concept of inequality truly a bad thing? ... We hear a lot of lip service from various politicians about the ills of income inequality, so letÂ’s look at actual recent track records. The U.S. Census Bureau uses four measures of income inequality, Gini, Theil, Mean Logarithmic Deviation of Income (MLD) and Atkinson Measure. â—ľSince the financial crisis, income inequality (as measured by the US Census Bureau using 3 different types of metrics)...
  • Local View: Wealth inequality sowing the seeds of another civil war

    06/09/2016 1:45:22 PM PDT · by 2ndDivisionVet · 51 replies
    The Duluth News Tribune ^ | May 27, 2016 | Bernie Hughes
    I have concluded that not doing fairly unto others ultimately could bring about another U.S. civil war. Please hear me out. See if you don’t agree it could happen unless the growing unfair political financial tide is corrected. The growing spread of wealth inequality has been underway for many years. It has come to pass even in a democracy and a so-called exceptional nation. I’m not a history major, but in my serious interpretation, another civil war appears to be a distinct possibility. Doing great and greater for the financially elite and less and less for others has come to...
  • Do Unions Cause Inequality?

    05/14/2016 10:20:51 AM PDT · by Sean_Anthony · 18 replies
    Canada Free Press ^ | 05/14/16 | Dr. Robert Owens
    Monopolies were and are considered universally evil except when it comes to unions. We hear quite a bit about inequality today. This seems to be the mantra in the waning of the Obama Administration with the President saying, “Income inequality is “the defining challenge of our time.” This is all code for another of President Obama’s descriptions of the same policy, the need to, “Spread this wealth around,” or in other words “From each according to his ability to each according to his need.” Let’s spread the wealth around and end inequality. One of the President’s and the Democrat Party’s...
  • Here's how America's middle class stacks up against the rest of the world's

    03/20/2016 10:55:12 AM PDT · by SeekAndFind · 15 replies
    Business Insider iva the Motley Fool ^ | 03/20/2016 | Sean Williams
    The middle class may be the foundation upon which the United States was built, but a number of recent studies suggest the working class is being left in the dust. A study from the Pew Research Center in December showed that middle-class Americans are no longer in the majority. Whereas in 1971 middle class Americans totaled 80 million, and lower- and upper-income classes combined equated to 51.6 million, the 2015 data looks far different. As of last year, 120.8 million adults were in the middle class ßß but this figure now takes a back seat to the 121.3 million combined...
  • We’ve Been Measuring Inequality Wrong Here's the real story [GOV'T REWARDS NON-WORK]

    03/15/2016 4:52:59 AM PDT · by expat_panama · 9 replies
    New Republic ^ | March 14, 2016 | Alan Auerbach and Laurence J. Kotlikoff
    Despite appearances to the contrary, this year’s presidential follies have managed to feature at least a few policy discussions amid all the name-calling. Income inequality in particular has animated voters on both sides of the partisan divide, but the solutions advocated by candidates from each party are markedly different. Democrats claim higher taxes on the rich and more benefits for the poor are the best ways to reduce inequality... ...To be clear, spending power remains extremely unequal. Our point is that the fiscal system, taken as a whole, does materially reduce inequality, not in what people own or earn, but...
  • A New Theory of Wealth Inequality [O'S EXCUSE: "IT'S COMPLICATED"]

    03/01/2016 3:55:34 AM PST · by expat_panama · 16 replies
    Real Clear Markets ^ | March 1, 2016 | Robert Samuelson
    WASHINGTON -- Thumbing through the annual report of the White House's Council of Economic Advisers (CEA) is always an education. This year's 430-page edition is no exception. Crammed with tables and charts, it brims with useful facts and insights. --On page 62, we learn that the growth of state and local government spending on services (schools, police, parks) has been the slowest of any recovery since World War II. One reason: Payments into underfunded pensions are draining money from services. --The CEA says on page 72 that labor markets could tighten in 2016 even if job creation is well below...
  • The Marriages of Power Couples Reinforce Income Inequality

    01/04/2016 1:28:08 PM PST · by C19fan · 33 replies
    NY Times ^ | December 24, 2015 | Tyler Cowen
    The notion of “making a good match,” a staple of the writings of Jane Austen and Henry James, continues in contemporary romance novels. At the same time, income inequality commands increasing attention from economists. Lately we’ve been learning just how much these two topics are tied together. These days, an investment banker may marry another investment banker rather than a high school sweetheart, or a lawyer will marry another lawyer, or a prestigious client, rather than a secretary. Whether measured in terms of income or education, there are more so-called power couples today than in the past, one manifestation of...
  • Barbra Streisand on Gender Inequality: 'Even Female Mice Are Discriminated Against!'

    12/14/2015 12:32:37 PM PST · by Zakeet · 27 replies
    Brietbart ^ | December 12, 2015 | Kipp Jones
    Speaking at an event for women in Los Angeles this week, Barbra Streisand complained that society is so misogynistic, even female laboratory mice are being discriminated against. "Gender discrimination drives me crazy," said the multiple Grammy and Academy award-winning actress and singer. "Women are still treated as second-class citizens when it comes to equal pay in the workplace and equal representation in Congress." [Snip] Streisand, who has made contributions toward heart disease research for nearly three decades, then spoke out about gender inequality in medical research. "Gender inequality even extends to mice in the labs," she said. "They're all male!"...
  • Obama collecting personal data for a secret race database

    A key part of President Obama’s legacy will be the fed’s unprecedented collection of sensitive data on Americans by race. The government is prying into our most personal information at the most local levels, all for the purpose of “racial and economic justice.” Unbeknown to most Americans, Obama’s racial bean counters are furiously mining data on their health, home loans, credit cards, places of work, neighborhoods, even how their kids are disciplined in school — all to document “inequalities” between minorities and whites.
  • Why Inequality Is the Democrats’ Dilemma

    10/24/2015 9:54:07 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | October 14, 2015 | John C. Goodman
    Strike up a conversation with any taxi cab driver or any fry cook at a roadside diner and the word “inequality” is unlikely to ever come up. That’s not on the list of top concerns for middle class America. It’s also not on the list of concerns for the world’s poor. Millions of people are willing to risk life and limb just to come here and start out at the bottom of the income ladder.(Don’t the immigrants realize how unequal things are? Yes, they want to live in a country where a poor immigrant can become a billionaire.)So why is...
  • The Democrats' Preoccupation with Inequality

    If you want to understand today's Democratic Party, a word search of the Democrats' debate last week provides a pretty clear picture. Here is how many times key words were spoken: Wall Street: 23 Tax: 20 Inequality: 9 Wealthy: 7 Now, compare the number of times other national concerns were mentioned: ISIS: 4 Terror/ists/ism: 2 Defense: 2 Military (excluding Jim Webb): 1 Freedom: 1 Debt (national): 0 Liberty: 0 Strength: 0 Armed forces: 0 Islamist/Islamic: 0 Material inequality is the predominant concern of the Democratic Party. Indeed, material inequality has been the predominant concern of the left since Karl Marx....
  • Liberal Logic in Soaking the Rich: They believe the paychecks of the 1% belong to the government

    10/17/2015 7:50:14 PM PDT · by SeekAndFind · 29 replies
    Pajamas Media ^ | 10/17/2015 | Rick Moran
    Interesting piece in the New York Times by Patricia Cohen about how easy it would be to raise taxes on the “1%” in order to see tens of billions of additional revenue for the government.I had to read this twice to make sure it wasn’t a parody. The top 1 percent on average already pay roughly a third of their incomes to the federal government, according to a Treasury Department analysis that takes into account the entire menu of taxes — including income tax, payroll taxes that fund Medicare and Social Security, estate and gift taxes, excise and custom...
  • Inequality in everything: The rich get better breakfast sandwiches, too

    10/13/2015 3:38:52 PM PDT · by 2ndDivisionVet · 70 replies
    The Washington Post's Wonkblog ^ | October 13, 2015 | Roberto A. Ferdman
    Earlier this year, New York Times food critic Pete Wells was moved to write 841 words about breakfast sandwiches. It was a love letter of sorts, an ooey gooey ode to the most basic form of one of the most basic morning foods. But it was also a complaint: A new restaurant called BEC — short for Bacon Egg and Cheese — was about to open in Manhattan, and he was less than pleased. Breakfast sandwiches, Wells explained, are nothing if not practical, prepared quickly and eaten on the go, stuffed with modest ingredients and sold at a reasonable price....
  • Bernie Sanders’ ascent shows the importance of voter education on wealth inequality

    10/11/2015 6:45:41 PM PDT · by SeekAndFind · 7 replies
    Hotair ^ | 10/11/2015 | Taylor Millard
    There are plenty of leftist populists out there pushing for Bernie Sanders. Sally Kohn wrote at CNN today how Sanders is a great alternative to Hillary Clinton because Americans seem to be in favor of his ideas. But Bernie Sanders is a socialist! No one would elect a socialist president, right? Not necessarily. This past June, Gallop found that almost half of Americans say they would vote for a socialist to be president. Plus once Americans learn more about what Sanders brand of socialism looks like, they may like him even more. Kohn actually uncovers a disturbing trend because...
  • Why We’re Never Moving Away from Income Inequality: A few thoughts on a futile project

    10/08/2015 7:25:34 AM PDT · by SeekAndFind · 7 replies
    National Review ^ | 10/08/2015 | Kevin D. Williamson
    One of the weird little facts of life that we don’t think about or talk about very much — and really should when we’re talking about taxes, the minimum wage, welfare spending, and other things related to inequality of income and wealth (and go ahead and picture me here manfully resisting the urge to put sneer quotes around “inequality,” as if a uniform distribution of material resources were the natural state of things and not some daft dorm-room fantasy) — is that we pay for everything (really, everything) collectively. Let me show you what I mean. Housing is famously expensive...
  • Pope devotes one line to abortion in speech to Congress on immigration, climate change, inequality

    09/24/2015 11:58:34 AM PDT · by SeekAndFind · 29 replies
    Hotair ^ | 09/24/2015 | AllahPundit
    Believe it or not, the one line he devoted to abortion was one line more than he devoted to the subject of Jesus, who wasn’t mentioned at all in this morning’s speech according to the transcript. Maybe that was a deliberate choice made by Francis, to stick to politics and universal principles before a domestic television audience with many millions of non-Christians. (He did mention Moses.) Or maybe he just had more important things that he wanted to talk about, like the environment.This is exactly right: The Holy Father's politics, as w/his predecessors, defy easy right-left categorization. Not sure...
  • Could Wealth Inequality Lead to Homosexuality?

    09/03/2015 6:10:42 AM PDT · by SeekAndFind · 20 replies
    RealClearScience ^ | 09/03/2015 | By Ross Pomeroy
    Male homosexuality has stumped evolutionary biologists and psychologists for decades. According to evolutionary theory, the highest goal is to pass on one's genes, yet homosexual males will father no direct offspring without the help of surrogates. Moreover, homosexuality seems to be at least partially heritable and is relatively common in developed societies. Why would such an evolutionarily costly trait be so prevalent?Past studies have suggested that genes related to homosexuality might confer a mating advantage to heterosexuals expressing them, and that female relatives of homosexual males may receive a boost to fecundity. Evidence supporting those notions remains sparse, however. A...
  • Bernie Sanders unveils hastily drafted “racial inequality” platform

    08/11/2015 7:22:01 AM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 08/11/2015 | Jazz Shaw
    Yesterday we talked about the rather embarrassing fact that Vermont Senator Bernie Sanders was once again chased off of his own stage by the Black Lives Matter crew and how he is, at this point, effectively being held hostage by them. At the time I wondered if Bernie could recover from such a humiliating experience, but he’s once again managed to surprise me. Sanders has struck back at the Social Justice Warriors by quickly unveiling a new policy platform which will… do exactly what they want. (Huffington Post) A day after being interrupted by Black Lives Matters protesters at...
  • Rand Paul: Income Inequality Comes From 'Some People Working Harder' Than Others

    08/09/2015 6:51:18 PM PDT · by 2ndDivisionVet · 18 replies
    The Huffington Post's Politics ^ | August 9, 2015 | Dave Jamieson, Labor reporter
    "We all end up working for people who are more successful than us," the presidential hopeful said.Asked if his flat tax plan would further separate the haves from the have-nots, GOP presidential hopeful Sen. Rand Paul (Ky.) said Sunday that income inequality is the result of some Americans working harder than others, rather than economic policies. "The thing is, income inequality is due to some people working harder and selling more things," Paul told host Chris Wallace on "Fox News Sunday." "If people voluntarily buy more of your stuff, you'll have more money." Paul has proposed what he calls a...
  • A New Report Reveals Inequality In Hollywood Is Worse Than We Thought

    08/05/2015 8:12:33 PM PDT · by EveningStar · 21 replies
    io9 ^ | August 5, 2015 | James Whitbrook
    The ongoing debate about equal representation in movies is more important now than ever—but it turns out we didn’t really realize just how bad the situation really was. It turns out that, according to a new report, if you’re not straight, white, male—or in the case of a Marvel movie, named Chris—in Hollywood, you’re screwed.
  • Pat Buchanan: Is capitalism diabolic?

    07/19/2015 3:11:41 PM PDT · by smokingfrog · 32 replies
    tbo.com ^ | 7-19-15 | Pat Buchanan
    On arrival in La Paz, Pope Francis was presented by Bolivian President Evo Morales with a wooden crucifix carved in the form of a hammer and sickle, the symbol of Lenin, Stalin, Mao and Fidel. Had Pope John Paul II been handed that crucifix, he might have cracked it over Evo’s head. For John Paul II had seen up close what communism did — to his country, his church and his people in 45 years of Bolshevik rule. On his arrival in the Nicaragua of Daniel Ortega in 1983, Pope John Paul castigated a priest-collaborator who dared to serve that...
  • U.N. Sec-Gen: “Obama To Sign International Agreement To End Global Poverty” (VIDEO)

    07/04/2015 4:44:36 AM PDT · by 2ndDivisionVet · 67 replies
    Progressives Today ^ | June 30, 2015 | P.W. Adams
    Last Friday, while most Americans were distracted debating the pros and cons of the Confederate Flag, or lamenting the latest SCOTUS rulings, Democrats and one world supporters gathered in San Francisco, California to celebrate the 70th Anniversary of the United Nations. The event, held in San Francisco City Hall, was a Progressive star-studded event featuring the likes of Governor Jerry Brown, Mayor Ed Lee, and Democratic Congresswoman Nancy Pelosi. But the most compelling statement was made the the keynote speaker, the Secretary-General of the United Nations Ban Ki-Moon. Secretary Moon admitted that in September World Leaders, including President Obama,are set...
  • Why Don’t the Poor Rise Up?

    06/24/2015 8:29:33 PM PDT · by 2ndDivisionVet · 74 replies
    The New York Times ^ | June 24, 2015 | Thomas B. Edsall
    Why are today’s working poor so quiescent? I’m not the only one posing this question. “Why aren’t the poor storming the barricades?” asks The Economist. “Why don’t voters demand more redistribution?” wonders David Samuels, a political scientist at the University of Minnesota. The headline on an April 7 National Catholic Reporter article reads: “Why aren’t Americans doing more to protest inequality?” There are legitimate grounds for grievance. For those in the bottom quintile, household income in inflation-adjusted dollars has dropped sharply, from $13,787 in 2000 to $11,651 in 2013. According to the Census Bureau, 64 million Americans currently live in...
  • Pay low-income families more to boost economic growth, says IMF

    06/15/2015 3:52:05 PM PDT · by 2ndDivisionVet · 12 replies
    The Guardian (UK) ^ | June 15, 2015 | Larry Elliott, economics editor
    Study indicates stagnating incomes of the poor and middle classes could have been instrumental in the financial crisis.The idea that increased income inequality makes economies more dynamic has been rejected by an International Monetary Fund study, which shows the widening income gap between rich and poor is bad for growth. A report by five IMF economists dismissed “trickle-down” economics, and said that if governments wanted to increase the pace of growth they should concentrate on helping the poorest 20% of citizens. The study – covering advanced, emerging and developing countries – said technological progress, weaker trade unions, globalisation and tax...
  • About Inequality: Rich Get Poorer Over Time, Not Richer

    06/09/2015 5:35:40 AM PDT · by SeekAndFind · 9 replies
    IBD ^ | 06/09/2015 | BY STEPHEN MOORE AND ROB ARNOTT
    It's no secret that the Democrats' 2016 presidential campaign theme will be class warfare — or as Hillary Clinton calls it, "toppling the rich." Which is "rich," given her own wealth. The left has bought all in to the claim by academics like French economist Thomas Piketty, who argues that capitalism is creating vast dynasties of wealth that are hoarded by a select few oligarchies, with money being handed down from one generation of trust-fund babies to the next. This narrative is mostly rubbish. While today's rich are much richer than the rich of past generations, the rotation among the...
  • Warren, De Blasio pitch agenda to tackle income inequality

    05/12/2015 11:46:23 AM PDT · by Oldeconomybuyer · 30 replies
    Market Watch ^ | May 12, 2015 | By Tobias Burns
    Sen. Elizabeth Warren, New York Mayor Bill de Blasio and Nobel Prize winning economist Joseph Stiglitz offered proposals to address income inequality, an issue that’s already a major one for the upcoming election. Warren called for an end to the so- called trickle down economic theories that seek fewer taxes and restrictions on wealthy individuals and institutions. “These advocates push for deregulation that hobbles the cops on Wall Street,” she said. “We have to work so that the balance is not tilted against workers and toward multinational corporations,” Warren said. Warren has declined entreaties from supporters who want her to...
  • Quiz: Can you recognize the shape of inequality in America? Most can’t

    05/20/2015 8:22:52 AM PDT · by Usagi_yo · 14 replies
    Washington Post ^ | May 19 at 12:27 PM | By Christopher Ingraham and Emily Badger
    We wrote on Monday about some new research showing how woefully confused most people are about inequality, not just in the U.S. but around the world. People tend to be very, very bad at accurately answering questions about the shape of the income distribution in their country, the share of people living in poverty, and the typical incomes made by workers at the top and bottom. ....
  • This policy has correlated with higher unemployment, more bankruptcies and greater inequality...

    05/12/2015 8:41:27 AM PDT · by fredericbastiat1 · 4 replies
    TheBlaze Books ^ | 2015-05-12 | Benjamin Weingarten
    "From 1947 when [the] Bretton Woods System really got operating to 1971, when the dollar was convertible into gold at a 35th of an ounce, unemployment in America averaged 4.7 percent. And then we got rid of the Bretton Woods system — we defaulted on it — we went to fiat money, and in the years from 1971 to today, unemployment has averaged significantly above 6 percent. Low unemployment: gold standard. High unemployment: fiat money. But it’s not just unemployment. The bankruptcy rate which Elizabeth Warren likes to focus on was one point something per thousand for years, and suddenly...
  • Except for rich, Americans' incomes fell last year

    04/03/2015 4:37:38 AM PDT · by C19fan · 22 replies
    AFP ^ | April 2, 2015 | Staff
    Most Americans' incomes continued to fall last year, but the richest 20 percent saw theirs rise, a new Labor Department report showed Thursday. In fresh data that adds fire to a growing debate over income inequality, the department said that Americans on average saw income decline for the second straight year in the 12 months to June 2014.
  • Fed Chair Wants to Know: ‘How Do Some Places Advance Economically?’ (‘inequality’ barf)

    04/02/2015 12:12:51 PM PDT · by Olog-hai · 25 replies
    Cybercast News Service ^ | April 2, 2015 - 11:51 AM | Ali Meyer
    Federal Reserve Chairwoman Janet Yellen called for more research into widening inequality in the United States during a speech at the Federal Reserve Community Development Research Conference in Washington, D.C., on Thursday. “How do some places advance economically and create circumstances in which residents in turn are more likely to thrive?” Yellen said at one point in her speech, giving an example of the type of question she would like to see answered by “further research.” “According to a recent Pew Research Center survey, the gap between rich and poor now ranks as a major concern in the minds of...
  • GUEST COLUMNIST: White privilege ensures inherent inequality

    03/21/2015 11:56:09 AM PDT · by 2ndDivisionVet · 37 replies
    The Tuscaloosa News ^ | March 21, 2015 | Oscar Tucker, Special to The Tuscaloosa News
    Fanatics believe their opinions are unbiased and unassailable. Conservatives, who contemptuously ridicule everything Barack Obama, believe their opinions sacred and his ideas sacrilegious. They have not come to terms with the fact that a black person occupies the White House as president, and not as a cook. Many conservatives grudgingly admit that his Bloody Sunday speech in Selma was a great speech, but could not resist belittling it. He has been accused of fomenting strife, opening old wounds and politicizing the event. Bloody Sunday was politicized when the Congressional GOP leadership announced they would not attend. They were pandering to...
  • Obama to GOP: Stop copying me on economy

    02/20/2015 4:05:01 AM PST · by 2ndDivisionVet · 7 replies
    WMUR-TV ^ | February 20, 2015 | Jim Acosta, CNN
    In his scheduled speech to the Democratic National Committee's 2016 winter meeting on Friday, President Barack Obama is expected to reclaim some ownership over an issue that is suddenly a hot topic among top Republicans -- income inequality. Recent comments from potential 2016 Republican presidential contenders about the growing gap between wealthy and working class Americans in the United States have not gone unnoticed at the White House. "Income inequality has worsened under this administration," Sen. Rand Paul, R-Kentucky, said after the president's State of the Union speech. "We're facing right now a divided America when it comes to the...
  • Winter blues? Rich kids of Instagram show you how to get over them

    02/10/2015 5:41:22 AM PST · by C19fan · 6 replies
    UK Daily Mail ^ | February 10, 2015 | Staff
    As snow batters the the eastern United States and temperatures plummet in Britain, the summer months and the chance of a holiday for some seem like a dream away. But for these kids, it is a simple and accessible reality. The wintry weather is another excuse for Instagram's wealthiest youngsters to escape in their private jets or sports cars to holiday homes and penthouses suites around the world, just to get some sun.
  • Envy in a Time of Inequality

    01/18/2015 7:13:06 PM PST · by Ray76 · 21 replies
    Acton Institute ^ | Nov 5, 2014 | Samuel Gregg
    Envy, I’ve often thought, is the very worst human emotion. The epic Biblical narrative of Cain’s slaying of Abel reminds us that people have been jealous of others’ successes and well-being from time immemorial. When mixed, however, with the near-obsession with inequality that dominates much public discourse these days, there’s a serious risk that envy — and desires to appease it — can start driving public policy in ways that aren’t economically wise or politically healthy. Remarks like “you didn’t build that” or François Hollande’s notorious 2012 “I don’t like the rich” statement don’t of course come out of a...
  • TWO AMERICAS

    01/01/2015 3:35:28 PM PST · by Col. Bob · 34 replies
    Lonsberry.com ^ | September 4th, 2014 | Bob Lonsberry
    <p>The Democrats are right, there are two Americas. The America that works and the America that doesn’t. The America that contributes and the America that doesn’t. It’s not the haves and the have nots, it’s the dos and the don’ts. Some people do their duty as Americans, obey the law, support themselves, contribute to society and others don’t. That’s the divide in America .</p>
  • Web inventor says Internet should be ‘human right’

    12/10/2014 9:22:18 PM PST · by Olog-hai · 31 replies
    Associated Press ^ | Dec 10, 2014 7:02 PM EST | Sylvia Hui
    The computer scientist credited with inventing the World Wide Web has called for affordable access to the Internet to be recognized as a human right, as a report showed that billions of people still cannot go online and government surveillance and censorship are on the rise. Tim Berners-Lee said Thursday the Internet can help tackle inequality—but only if it comes with the rights to privacy and freedom of expression. The Briton, who launched the Web in 1990, made the remarks as he released his World Wide Web Foundation’s latest report tracking the Internet’s global impact. …
  • Obama believes racial equality has improved during his presidency

    12/10/2014 7:14:53 AM PST · by SeekAndFind · 27 replies
    American Thinker ^ | 12/10/2014 | Ed Lasky
    Those are not the facts but facts never matter when Barack Obama is involved. Barack Obama has been in overdrive in trying to boost his appeal to his base (blacks and Hispanics, in particular) as he loses the respect of the rest of America. His latest bid to bolster his support among his most loyal of supporters is his recent claim that racial equality has improved under his reign. He did this in an interview with Univision-the Spanish-language network controlled by one of his most generous donors. Justin Sink reports at The Hill  that President Obama believes racial equality...
  • Chris Rock’s econ bombshell: What his “riots in the streets” prediction says about American Dream

    12/05/2014 8:28:49 PM PST · by 2ndDivisionVet · 40 replies
    Salon ^ | December 3, 2014 | Elias Isquith
    Comedian reveals what it means to be rich today -- and how little the average American really understands about it. I’ve already written a bit about Chris Rock’s must-read interview with Frank Rich and, as much as I enjoy the comedian’s work, I didn’t expect to be returning to it quite so soon. But although Rock’s comments on racism initially drew the most attention, a recent study from Gregory Clark, a researcher at University of California, Davis, has got me thinking that the comedian’s most insightful (and potentially radical) statement came earlier in the interview, during a brief digression about...
  • Silicon Valley homeless no longer welcome in 'the Jungle'

    12/04/2014 10:56:36 AM PST · by C19fan · 9 replies
    LA Times ^ | December 3, 2014 | Rong-Gong Lin II and Gale Holland
    Veiled by the yellow willows and brush along a forgotten creek bed in San Jose, hundreds of people jerry-built a treehouse and constructed underground bunkers and ramshackle lean-tos to form one of the nation's largest homeless encampments. The 68-acre shantytown is just minutes away from downtown and the high-tech giants that made Silicon Valley one of the world's most opulent locations. For years, the city turned a blind eye to "the Jungle." But the camp along the muddy bank of Coyote Creek has become more crowded in recent years and is awash in rotting trash, rats and human waste —...
  • Erdogan: Of course women aren’t equal to men ( Moslem Turkey )

    11/25/2014 11:13:41 AM PST · by george76 · 31 replies
    Hot Air ^ | November 25, 2014 | Jazz Shaw
    In case you were looking for an actual “war on women” as opposed to some fictional hysteria constructed for the entertainment of daytime cable news soap operas, you might want to take a look at Turkey. The new president of our “ally” in the region near Syria, Tayyip Erdogan, decided to opine on the subject of gender relations this week and he really wasn’t worried about mincing words. Turkish President Recep Tayyip Erdogan has said women cannot be treated as equal to men, and has accused feminists of rejecting motherhood. “You cannot put women and men on an equal footing,”...
  • New CBO Report Explodes Tax Fairness Myths

    11/14/2014 6:09:40 AM PST · by IBD editorial writer · 6 replies
    Investor's Business Daily ^ | 11/13/2014 | John Merline
    President Obama has constantly complained about the rich not paying their "fair share." But a new Congressional Budget Office report shows that the rich were paying more than their fair share of taxes before the numerous hikes he imposed. The CBO looks at the distribution of household income and federal taxes up through 2011, the last year for which it has data. It found, for example, that: