It’s over and has been for quite some time. This is about the economy, not the climate, but take your analogies as you like. But whether or not you believe the climate is changing, it takes a WHOLE lot more closed-eyes denial to still believe the ECONOMY hasn’t. Looking back, it was like standing there in your driveway watching a strange greenish-purple cloud, unlike anything you’ve ever seen before, piling up higher and higher into the ever-darkening sky. Then the telltale roaring train sound and your house is gone.
What happened? You can stamp your foot and say the stimulus didn’t fix it, but the house was sailing away before Obama got elected. And that strange greenish-purple cloud? INCOME DISTRIBUTION! A lot of happy chatter suggested that weird giant clouds don’t hurt anybody, they are merely interesting formations that are just different arrangements than the puffy white clouds we used to have. But not so much. Tim Noah describes it all vividly here. I’ll let you wrestle with the New Republic’s accessibility, but it’s a great piece and the two paragraphs they give you free give you a fine taste.
Wealth at the top went up and up and up. It came largely out of wages.
Yours. When you ran out of money to buy things, the wealthy had a brilliant idea. Instead of PAYING you money, they’d LEND it to you. Then they could still sell to you and you’d pay them once, and then again in interest. Brilliant, and insane. And how to we reward these titans for their insanity? Give them MORE tax cuts, and see what new brilliant schemes they can think up for you. Ponzi, anyone?
By Tom Toles | 07:30 AM ET, 09/30/2011
http://www.washingtonpost.com/blogs/tom-toles/post/friday-rant-now-they-tell-you/2011/09/29/gIQAMABZ7K_blog.html
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