We all are asking that same damn question…..well, at least those of us that have to toil for a living, that is…..and if you are looking for a simple answer to a complex issue…..this may help……
bullet points (thanks to Stephanie Kelton):
- The economy doubles since 1980, but wages flat. Where did the money go…
- All (or most) of the gains went to the super rich. And…
- With money comes political power. Taxes on super rich slashed, revenues evaporate. This leads to…
- Huge budget deficits. Middle class agitated, fights for scraps…
- Middle class divided. Buying and borrowing slow. Resulting in:
- Anemic recovery/economy.
Check out the video on the link above…..maybe this would help dis-spell some of the confusion that we all seem to suffer from in our attempt to explain the problems we are having…..or why we need to worry.
Absolutely accurate as far as I can tell and it DOES highlight the difference between the UK and the US. Of course, in the UK, it’s the undesrving poor rather than the undeserving rich who have gained – but the middle class still got screwed. NOW, though, it may begin to be a little different – hopefully – which is why I think the UK economy will eventually surge, IF we don’t give it all away to the bloody EU!
I thought that it was a pretty good analysis…..and I am worried about the US….this whole debt thing is getting more scary….not the outcome but the bullshit the politicians are pulling….