HC, who says the Wall Street Journal doesn't have a sense of humor?? LOL, it's the funniest thing I've come across this weekend, thanks for the laughs. As if Wall Street is CONcerned about inequality in AmeriCON. 40 more yrs !!
morning bro, as long as the right party CONtrols the white house the rich can move toward Controlling 95 % of the contries wealth with no fear of an americon spring. The idiot savants like cruz, perry, Hannity, paul etc will make sure a guy who can win 51 % of the popular vote will NEVER represent the party so its all clear for now ! It's all good bro,
"In May 2009, the Financial Crisis Inquiry Commission was created to “examine the causes, domestic and global, of the current financial and economic crisis in the United States.”43 The Commission did not directly examine the role of income inequality in promoting crisis. This was an oversight – the history of the past century reveals a striking correlation between income inequality and financial crises. Our analysis suggests that this is no coincidence: income inequality generates financial fragility by increasing leverage ratios among lower- and middle-income households, fostering a pool of idle wealth that increases the demand for investment assets and financial innovation, and allocating asymmetrical political power which reduces regulation and threatens financial instability."
"￼￼In isolation, each of these factors may have little impact on systemic crisis, but collectively, they can reinforce each other. As households fall further and further behind the economic elite, they turn to credit; over-leveraging not only threatens household solvency but also expands business for, and the influence of, the financial sector. Simultaneously, growing pools of wealth among the top brackets seek high-return investments, promoting the development of complex financial products – which, in the Great Recession at least, piggy-backed on the expansion of household debt through CDOs and CDS. The expanded role of the financial sector combined with the concentration of economic resources at the top of the distribution amplifies the political influence of financial interests, which promotes lax regulation and deregulation. The end results are extremely fragile economic conditions. Based on our analysis, evidence suggests that income inequality has been – and should be in the future – an important variable to consider and assess when evaluating the road to financial crisis."
Source: Unequal and Unstable: The Relationship Between Inequality and Financial Crises