- Warren Buffet, one of America's most successful capitalists and defenders of capitalism, points out, "There's class warfare, all right, but it's my class, the rich class, that's making war ...."
- Raging inequality was largely responsible for the Great Depression and for the current financial crisis.
- Egyptian, Tunisian and Yemeni protesters all say that inequality is one of the main reasons they're protesting. However, the U.S. actually has much greater inequality than in any of those countries.
- Ken Rogoff on elites: “I don’t understand why people don’t wake up to the crisis they are creating,”
- Why Are People So Angry?... Corporate earnings have soared to an all-time high. Wall Street is gaudy and confident again. But the heyday hasn’t come for millions of Americans...The American Dream is about having the means to build a better life for the next generation. But as President Obama acknowledged at a town-hall meeting in May, “a lot of folks aren’t feeling that [possibility] anymore.”
Thursday, July 21, 2011
The Case (?) for Class War
Washington's Blog (hat tip Ritholtz) has a post today entitled "Raging Inequality May Cause Unrest and Violence In America and the Rest of Western World". Long and rambling, but a number of good points in Vitus's opinion.