Rich People make...Depressions
As I ride my bike around DC in June I am reminded of the cycle of rising humidity and temperature leading to thundershowers. It just seems like the sky gets mad and lets loose. It is probably the same with the economy. As things get tighter and the percentage of income going to the 1% of the very rich rises above 20% things get to an "angry" state and fall apart. Look at the patterns of income distribution in 1928 and 2006. See a pattern there? And then look at times when the 1% got about 10% and you probably find that the overall happiness factor for the country was a little better as well. Things to consider when we look at how to design the future. Bob Ferris
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