The Growing Inequality

23 Jun

I think this growing inequality should get us all very worried. This post by Lewis J. Bornmann is very thought provoking indeed.

Lew Bornmann's Blog

It seems to me….

The difference between rich and poor is becoming more extreme, and as income inequality widens the wealth gap in major nations, education, health, and social mobility are all threatened.” ~ Helene D. Gayle.

The economic crisis and recession of 2009 failed to weaken the financial sector of our economy which now is stronger than ever. As an industry, the financial sector earns 30 percent of all corporate profits while creating only 6 percent of U.S. jobs. Banks considered “too-big-to-fail” prior to the 2008-2009 financial crisis have grown even larger than prior to that crisis with the eight largest institutions controlling approximately 90 percent of the GSP. Bank lobbyists represent the second largest corporate special-interest bloc; only the healthcare complex is larger.

The financial industry considers securities trading, though riskier, to be more profitable than making loans. The so-called Volcker Rule, part of the Dodd–Frank…

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One Response to “The Growing Inequality”

  1. stuartbramhall June 24, 2015 at 11:49 am #

    When inequality can’t be reduced by political means, insurrection is inevitable. This is one of the more important lessons of history. It’s only a matter of time now – the world’s urban poor are a tinderbox. It will only take a small spark to set it off.

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