The paragraph below was taken from an “MarketWatch“ article.
“And according to an analysis by the Central Intelligence Agency, the U.S. has one of the most unequal income distributions in the world. In this field, most of the developed world is pretty much in line — Japan, Italy, Australia, Canada, Norway, Great Britain. Some are more unequal than others, but all are comparable. In each case, of course, the rich make more than the middle class, sometimes a lot more. But they generally occupy the same economy.The U.S.? Our income distribution is more in line with Zimbabwe, Argentina, and El Salvador. We think of Russia as the land of oligarchs, but America’s inequality is actually slightly greater than Russia’s.
Maybe we should all be investing in luxury goods companies, and launching overpriced “designer” labels targeted at oligarchs with more money than sense. As for all those millions out of work: Maybe they can get jobs as servants.”
The situation in the U.S is only getting worse, as the middle class is quickly being wiped out. With job losses, and debt at all time highs the gap between rich and poor is becoming ever more wider than before.
Bookmark at:StumbleUpon | Digg | Del.icio.us | Dzone | Newsvine | Spurl | Simpy | Furl | Reddit | Yahoo! MyWeb
[...] There is a disconnect between the stock market and the real economic situation right now. Corporate profits are doing very well right now, mainly because corporations have done massive cost cutting by laying off or cutting lots of jobs. However, with almost 10% U.S Government reported unemployment rate (real rate is probably closer to 20%), there are a lot of people out there suffering, alot of Americans who used to be middle class now pushed down below the poverty line. Oh and by the well the poverty rate in the U.S and the gap between rich and poor have grown to its all time high. [...]