Tip, I've had some problems with Batra in the past, as I loaded up with long tech stocks and tech stock calls after he brought out "The Crash of 1990." I agree with many of his notions, but calling for a crash from a market bottom didn't make since.
The wage gap is usually something that concerns politicians as the majority start to notice that they are getting screwed while the bosses and politicians are coining the jack. However, it has some real economic considerations. The rich buy German cars, vacation on the Riviera, French yachts, suits, dresses and colognes while the working stiffs buy Chevies, vacation in Yellowstone, sail Hobey Cats, and wear Levis, Jacklin Smith Collection, and Brut. In other words, if the working class is falling behind, the wealthy don't pick up the slack in our economy.
The negative savings are a combination of easy credit and lousy wages. Everyone says you should have a better house or a stock portfolio or whatever, but your salary strains at the idea. And along comes MBNA with another credit card you can max out. |
