bobbyw24
04-26-2011, 08:34 AM
By Bill Bonner
04/25/11 Baltimore, Maryland – Oh my…oh my…
A Nobel Prize winning economist has come out with yet another analysis, showing that capitalism isn’t working. It is failing the middle class, says Michael Spence.
The rich are getting richer. The poor are as poor as ever. And the middle classes are losing ground. That’s what he says.
And he’s a moron. Here’s the Reuters blog…
Capitalism is failing the middle class
Global capitalism isn’t working for the American middle class. That isn’t a headline from the left-leaning Huffington Post, or a comment on Glenn Beck’s right-wing populist blackboard. It is, instead, the conclusion of a rigorous analysis bearing the imprimatur of the US establishment: the paper’s lead author is Michael Spence, recipient of the Nobel Prize in economic sciences, and it was published by the Council on Foreign Relations. – Reuters Blog, Chrystia Freeland
Actually, the poor are making huge gains – in India, China, and Southeast Asia particularly.
The rich are making huge gains too – all over the world.
Read more: http://dailyreckoning.com/no-rest-for-the-debt-addled-middle-class/#ixzz1KdkyN700
04/25/11 Baltimore, Maryland – Oh my…oh my…
A Nobel Prize winning economist has come out with yet another analysis, showing that capitalism isn’t working. It is failing the middle class, says Michael Spence.
The rich are getting richer. The poor are as poor as ever. And the middle classes are losing ground. That’s what he says.
And he’s a moron. Here’s the Reuters blog…
Capitalism is failing the middle class
Global capitalism isn’t working for the American middle class. That isn’t a headline from the left-leaning Huffington Post, or a comment on Glenn Beck’s right-wing populist blackboard. It is, instead, the conclusion of a rigorous analysis bearing the imprimatur of the US establishment: the paper’s lead author is Michael Spence, recipient of the Nobel Prize in economic sciences, and it was published by the Council on Foreign Relations. – Reuters Blog, Chrystia Freeland
Actually, the poor are making huge gains – in India, China, and Southeast Asia particularly.
The rich are making huge gains too – all over the world.
Read more: http://dailyreckoning.com/no-rest-for-the-debt-addled-middle-class/#ixzz1KdkyN700