Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Crimson Ghost who wrote (111627)	5/17/2010 10:16:33 AM
From: studdog	33 Recommendations Read Replies (4) of 116555

Mish, I think Crimson Ghost is correct in this. When the income of the top 25 hedge fund managers (all taxed at 15% and generated while producing nothing) is equal to the salaries of 680,000 high school teachers, then we have a problem. The unions of those teachers don't look very effective when compared to the lobbying efforts of the finance industry. As our middle class has shrunken and the moneyed class has ballooned, the relative lobbying power of the middle class has dwindled. Despite the efforts of the unions the middle class has lost alot of ground over the last 20 years. Blaming the unions for our problems is like complaining about uncomfortable deck chairs on the Titanic. The iceberg is wealth concentration and capital misallocation (driven by short term greed)in the private sector and general government ineptitude and corruption on the public side, allowing the former to happen. huffingtonpost.com Studdog

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