Tuesday, February 23, 2010
Wealth Disparities in U.S. Approaching 1920s Levels
There is no way we can have economic prosperity in this country when the top 1% has all of the money. The middle class is basically being destroyed right in front of our very eyes. Consumption economies die when the consumers have no money to consume!
I see growing signs of desperation and anger as the wealth of this nation continues to get transferred to the elite of this nation.
Washington needs to wake up because we are headed straight off a cliff. Take one more look at the chart above and look what happened the last time the disparity in wealth in this country got this high.
Can you say Great Depression? Remember, the only way an economy can thrive is when the majority of people involved in it are prospering. We are about to drive off the same cliff that we did in the 1920s as the middle class is turned into a group of SERFS. Be prepared.