From Tomgram, July 26:
China’s economy soars on one side of the planet (though with a multitude of half-hidden problems). . . On the other side of the same planet, from Greece and Ireland to Spain and Italy, Europe shudders and fears run wild. Meanwhile, back in the U.S., the president and Congress have headed the economy merrily for the nearest cliff, while money is lacking even to keep court systems running in some parts of the country.
In February, former Forbes editor Robert Lenzner blogged:
“Harvard economist Kenneth Rogoff [predicts] that the high unemployment rate and high levels of debt in the U.S. will sooner or later trigger serious ‘social unrest from the income disparities in the U.S.’
“. . . I don’t understand why people don’t wake up to the crisis they are creating,” . . .
July 26, the Pew Research Center reported:
Wealth Gaps Rise to Record Highs Between Whites, Blacks, Hispanics
“The median wealth of white households is 20 times greater than that of black households and 18 times greater than that of Hispanic households, according to a Pew Research analysis of newly-available data from a 2009 government survey. These ratios are the largest in the quarter century since the government first published such data. “