Monday, February 13, 2012

Headline of the day

Right here:

It's the Wealth Gap, Stupid

Here's just one paragraph:

"What's the primary cause of our current and growing wealth gap? Home values, the largest item on most families' balance sheet, remain depressed, while stock prices, the largest item on the balance sheet for those at the top, have rebounded. In short, Wall Street has recovered, Main Street has not. Consequently, in the last three years, the concentration of wealth has occurred at the expense of those in the middle. Economist Sylvia Allegretto estimates that the top 1 percent of households by wealth had net worth 225 times greater than the median household in 2009. This is the highest ratio of wealth inequality on record and an increase of 24 percent since 2007. Without drastic changes in the market or in policy, the divergence between housing values and securities prices will be the main driver of wealth inequality for the foreseeable future."

I strongly recommend that you click through and read this one. It's an eye-opener, that's for sure.

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