The Truth About The Economy In Two Minutes

Robert Reich describes what’s wrong with the economy in 2 minutes. His bullet points (thanks to Stephanie Kelton):

  • The economy doubles since 1980, but wages flat.  Where did the money go…
  • All (or most) of the gains went to the super rich.  And…
  • With money comes political power.  Taxes on super rich slashed, revenues evaporate.  This leads to…
  • Huge budget deficits.  Middle class agitated, fights for scraps…
  • Middle class divided.  Buying and borrowing slow.  Resulting in:
  • Anemic recovery/economy.

This post was published at Pragmatic Capitalism.

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