where the money's gone

By Flavius on Thu, 06/07/2012 - 11:29am |

Stiglitz:

Consider the Walton family: the six heirs to the Walmart empire possess a combined wealth of some $90 billion, which is equivalent to the wealth of the entire bottom 30 percent of U.S. society. (Many at the bottom have zero or negative net worth, especially after the housing debacle.) Warren Buffett put the matter correctly when he said, “There’s been class warfare going on for the last 20 years and my class has won.”

1944 reads

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Does this require any comment?

This has been in the media since last December but I just caught up with it.

by Flavius on Thu, 06/07/2012 - 11:50am

Josephus?

by Peter Schwartz on Thu, 06/07/2012 - 3:57pm

by Flavius on Thu, 06/07/2012 - 9:06pm

In 2000 there was 12 million people below poverty level. There is now 22.5 million people below poverty. Also 7 million now live on less then $9,000 a year and half of them has only food stamps (snap) as their only income. These numbers hasn't stop growing even with modest gains in employment. Moreover, 57% of the families under poverty levels are single women with young children. I just wonder how long it will.take to reach the tipping point when money can't buy elections.

by trkingmomoe on Fri, 06/08/2012 - 12:42am

where the money's gone

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