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#Post#: 16288--------------------------------------------------
Income inequality. It's not just for Liberals anymore
DIR By: rapids_60
Date: September 23, 2014, 11:31 pm
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--- Quote ---
> First, it was Standard & Poor’s. Now, Morgan Stanley weighs
in on income inequality in a new report. Why are these Wall
Street institutions, normally focused on macroeconomic issues
directly related to gross domestic product forecasts, suddenly
chiming in on the issue?
>
> Because both firms find U.S. inequality is holding back
economic growth. Morgan Stanley’s research suggests
weaker-than-usual consumption at the lower end of the income
ladder helps explain why this economic recovery has been
particularly anemic.
--- End Quote ---
HTML http://blogs.wsj.com/economics/2014/09/22/why-wall-street-cares-about-inequality/
#Post#: 16290--------------------------------------------------
Re: Income inequality. It's not just for Liberals anymore
DIR By: trollslayer
Date: September 24, 2014, 6:47 am
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China is a great example of having everybody poor (income
equality) and a booming economy! What this article fail to
recognize is the huge increase of people not working or those
unable to find full time jobs. Simply thinking that raising the
minimum wage for the 3% of the American workers is going to
somehow inspire this large economic growth just doesn't make
sense. What we really need are jobs.
#Post#: 16294--------------------------------------------------
Re: Income inequality. It's not just for Liberals anymore
DIR By: rapids_60
Date: September 24, 2014, 1:31 pm
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--- Quote from: trollslayer link ---
>
> What we really need are jobs.
>
--- End Quote ---
Absolutely. Problem is a good number of the jobs we lost were
good paying. They are being replaced by low-wage service jobs.
That just feeds the downward spiral.
If we are going to create that many service jobs, they really
have to pay more for the economy as a whole to stay afloat.
China, lol. The crash is coming. You can only build so many
unoccupied cities before your 5-year plan falls apart.
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