Cheat Sheet on Inequality

Every economy in the world looks upto US econ , we talk about the inequality today , In our country we have all kinds of inequality - income, caste, region , sex, color , sex preference , wealth and many more. 

This post highlights or rather compares America today with rest of the world in every era we can.

Talk about inequality has been in the news recently, but you won’t believe what’s really happening in America today:

• Inequality in America today is twice as bad as in ancient Rome, worse than it was in Tsarist Russia, Gilded Age America, modern Egypt, Tunisia or Yemen, many banana republics in Latin America, and worse than experienced by slaves in 1774 colonial America

• It’s the highest level of inequality ever recorded in the U.S.

• It’s worse in America than in any other developed nation

• Staggering inequality in America has become permanent

• There are 2 economies: one for the rich, and the other for everyone else

• The economy has only recovered for the 1% … the rest of the country is more or less stuck in a depression

• The super-rich are raking in more than ever

• On the other end, more and more people are sliding into poverty

• 1 out of every 5 households in the United States is on food stamps

• The middle class has more or less been destroyed

• A who’s who of prominent economists and investors say that inequality causes crashes and hurts the economy

• Extreme inequality helped cause the Great Depression, the current financial crisis … and the fall of the Roman Empire

• Inequality isn’t happening for mysterious or uncontrollable reasons. Bad government policy is responsible for runaway inequality

• Bush was horrible, but income inequality has increased even more under Obama than under Bush

• Americans consistently underestimate the amount of inequality in our country.  They will be shocked – and may be furious – when they learn the truth

• It’s a myth that conservatives accept runaway inequality.  Conservatives are as concerned as liberals regarding the stunning collapse of upward mobility