Showing posts from February, 2013

The World Has A Growing Inequality Problem And The U.S. Is No Different

The "Great Recession" officially ended three years ago in the second half of 2009. The unemployment rate is down from its double-digit peak in October 2009. The Wall Street investor class is dancing for joy because the Dow Jones Industrial Average has doubled in value since its recent low in March 2009. With home prices, sales, and construction up, the housing market seems to be recovering quite well. The American economy appears to be on the rebound, but, not everyone is benefitting because America has a growing inequality problem that has many Americans staring either into the economic abyss or watching over their shoulder for a pink slip as they live paycheck-to-paycheck. Inequality is a global problem. Let me start with the world first and then work my way back to America. In a new report, The Cost of Inequality: How Wealth and Income Extremes Hurt us All , a leading international philanthropy organization, Oxfam , argues that inequality caused by extreme concent