[pct-l] Damage Control

[Charles Doersch]

All in context.


According to Nobel-prize winning economist Joseph Stiglitz: “The top 1
percent of Americans now take in roughly one-fourth of America’s total
income every year. In terms of wealth rather than income, . . . the top 1
percent now controls 40 percent of the total American wealth. This is new.
Twenty-five years ago, the corresponding figures were the top 1% took in 12
percent of the income and controlled 33 percent of the wealth.”

No economist -- not one -- among the top thousand or so economists in the
US, Europe, or Australia considers this healthy for an economy, a people, or
a future.

~Charles and the gang.

PS. Caveat: I foretell turbulence, however, if the pct-l moves toward
political commentary.

On Mon, Oct 24, 2011 at 2:28 AM, Reinhold Metzger
<reinholdmetzger at cox.net>wrote:

> Mike Wrote:
> -- “The comfort of the rich depends upon an abundant supply of the poor."
> (Voltaire)
> -------------------------
> Yes Mike,
> This may be true....but don't forget that, at the same time, the comfort of
> the poor
> depends on their ability to find employment and the ability of the rich to
> create the
> opportunity to make such employment available to the poor.
> Damage one and you damage the other.
> Some folks say "it is best not to strangle the goose that lays the "golden
> egg".
>
> JMT Reinhold
>
> _______________________________________________
> Pct-L mailing list
> Pct-L at backcountry.net
> To unsubcribe, or change options visit:
> http://mailman.backcountry.net/mailman/listinfo/pct-l
>
> List Archives:
> http://mailman.backcountry.net/pipermail/pct-l/
> All content is copyrighted by the respective authors.
> Reproduction is is prohibited without express permission.
>