Income inequality in USA

We give below a comment received from Mr. Ram Rao. It is interesting!

Income inequality in  USA has become a major problem. A very small sliver of the population is reaping almost all of the rewards. After adjusting for inflation, the average income of the top 0.1% cream of Americans jumped 385% between 1970 and 2008. The vast majority of the rewards flow to Wall Street, the big banks, the biggest corporations and the ultra-wealthy. The average income for the bottom 90% population has dropped by 1%. The middle class is being ripped to shreds. US government debt is expanding @ $40,000 per second. That’s $2.4 million per minute stolen from future generations! Stopping this theft it would throw the US economy into horrible economic crisis far worse than now. That is why US politicians don’t have the guts to do it. One sign that society is collapsing is… “Mob robbery” phenomenon. In Philadelphia, at 7 pm on Thu. 23rd June 2011, a mob of 40 teenagers and youths invaded a Sears dept store, at 150, South 69th Street,Upper Darby, Pennsylvania stole sneakers, socks, watches, whatever they could grab and ran away.

http://www.nbcphiladelphia.com/news/local/15-Youth-Charged-After-Upper-Darby-Flash-Mob-124586214.html

For society to function correctly, people need to trust each other and trust the major institutions that hold society together. Once that confidence is gone, there will be no return !

These kinds of large scale crimes are happening from coast to coast.

We live in very interesting times!

Ram

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