It's Not an Accident ... It's Policy
America is experiencing unprecedented inequality. And a who's who of prominent economists (and investors) say that inequality is hurting the economy.
Defenders of the status quo pretend that this inequality is something outside of our control ... like a force of nature. They argue that it's due to technological innovation or something else outside of policy-makers' control.
In reality, inequality is rising due to bad policy.
Nobel prize winning economist Joe Stiglitz said this month:
Gaming the System to Pillage and LootInequality is not inevitable. It is not ... like the weather, something that just happens to us. It is not the result of the laws of nature or the laws of economics. Rather, it is something that we create, by our policies, by what we do.
We created this inequality - chose it, really - with [bad] laws ...
The world's top economic leaders have said for years that inequality is spiraling out of control and needs to be reduced. Why is inequality soaring even though world economic leaders have talked for years about the urgent need to reduce it?
Because they're saying one thing but doing something very different. And both mainstream Democrats and mainstream Republicans are using smoke and mirrors to hide what's really going on.
Comment: Of course, there isn't any real risk that the US government will be shut down. This is just a contrived affair to make us think that the US republic is still alive, when in fact it has long since been transformed into a corporate plantation run by 'CorpGov'.