In The U.S., The Rich Get Rich, The Poor Get Poorer

By Tuesday, November 11, 2014 0 Permalink 1
THE FACTS ARE A LITTLE DEPRESSING

The United States is approaching a level of inequality on par with the Great Depression, according to a paper by economists Emmanuel Saez and Gabriel Zucman.

In their paper, “Exploding wealth inequality in the United States”, the pair found that the wealth share of the top 0.1% of Americans rose greatly in recent decades, but eroded among the middle class and the poor.

DEBT IS THE CULPRIT

According to Saez and Zucman, increased debt is the main reason the bottom 90% of American families are struggling to get ahead.

The top 1% saw their wages grow fast, while wage gains were limited for the bottom 90% of families.

The result is that the share of wealth amongst the top 0.1% was almost equal to the bottom 90%.

PICKETTY MAY BE ONTO SOMETHING

French economist, Thomas Picketty, is onto something.

Saez and Zucman mention Picketty’s book, Capital in the Twenty-First Century, which argues income inequality is growing because of capitalism, and proposes a global system of wealth taxes to reduce world inequality.

There’s such a buzz about the book, it was voted Business Book of the Year by The Financial Times and McKinsey this week.

Nominees For 2015 Rock and Roll Hall of Fame Are…

By Friday, October 10, 2014 0 , Permalink 0

The Rock and Roll Hall of Fame nominees have been announced for the 2015 induction! This Hall of Fame exists to interpret and preserve the impact rock music has made on the world. The story of rock is told through inductions and mementos that show how rock music has evolved through the generations.

Fans can cast their vote on the Rock and Roll Hall of FameRollingStone, or USA Today website. The top five artists selected by the public will make up a “fans’ ballot” that will be tallied with other votes from an international voting body. Inductees will be announced in December.

The nominees include:

The Paul Butterfield Blues Band
Chic
Green Day
Joan Jett & the Blackhearts
Kraftwerk
The Marvellettes
N.W.A.
Nine Inch Nails
Lou Reed
The Smiths
The Spinners
Sting
Stevie Ray Vaughan

We’ve put together a playlist below of all of these artists. Enjoy!

“I’ve found the new face of the Republican Party. It’s not a new one, entirely, and it’s been hiding out on national television every weekday morning from six to nine.”

Read the source article at The Daily Beast

— Christopher Buckley on Joe Scarborough

Is Morning Joe The Most Influential News Show In The World? Jeffrey Sachs Thinks So

Like the Beach Boys, Jeffrey Sachs gets around. As Director of The Earth Institute and Special Advisor to the United Nations Secretary-General, Professor Sachs ceaselessly travels the world in his fight against poverty. After returning from his latest trip overseas, the internationally renowned professor let Joe and Mika in on a little secret about their American news program.

“People love Morning Joe in sub-Saharan Africa, at the Vatican, and all over the world. It is unbelievable. I can be in any place in the world and I hear, “Hey I saw you last week on Morning Joe.” I heard it when I was in Ethiopia, when I was in Rwanda, and I’m just hearing it everywhere.

“I know we’re ironic around here a lot of times,” Joe joined in, “but we are shocked when we hear the same thing all the time.”

Dr. Sachs replied quickly, “No question. Absolutely. They’re watching it and they’re tweeting it out!”

That’s what you call worldwide reach. Maybe they should rename it “Morning Globe!”