Friday, June 17, 2011

Reich's 6 points on the economy

From Pragmatic Capitalism, I found Robert Reich's 2.5 min, six bullet skinny on the economy:



The bullet points:
  1. Economy doubles since 1980, but wages flat. Where did the money go?
  2. All gains from the economy go to the super rich. and...
  3. With money comes political power. Taxes on Super rich slashed, revenues evaporate. this leads to...
  4. Huge budget deficits. Middle class agitated, fight for scraps
  5. Middle class divided. Buying and borrowing slow. Resulting in:
  6. Anemic recovery.

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