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God shall wipe away all the tears from their eyes, and there shall be no more death. Neither shall there be sorrow or dying, neither shall there be any more pain, for the former world has passed away.

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The recession has affected my life, my quality of life declined significantly

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I too would like to see the companies harboring these WS thieves taken to the woodshed, perhaps paying punitive damages et al. But! I think the crafty sleazers have rigged things such that a bankruptcy would not claw bank their ill-gained lucre. Let's HOPE that the general rage about this taking -- still not understood "inside the beltway" creates a groundswell of support for reforms and strong regulation........ and hey! possibly even enforcement? Did you catch the recent news of "understaffed" SEC employees spending hours downloading porn that overflowed their harddrives?

But perhaps it's not over? Could civil or criminals trials result be part of the answer?

The "overpay" of most government positions are that they, to some extent, kept up with inflation while most in the private sector did not. Drag them down or lift up the private sector?

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These measures suggest sizable improvements in the welfare of the average person during most of this decade

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The best longer-term solution to the inequality problem is to reduce the fraction of Americans who dropout of high school, a theme I have continued to emphasize in various postings on our blog. This drop out fraction has been stagnant for the past several decades at about 30% for males, and a somewhat lower but still high percent for females. This is almost surely the highest fraction of high school dropouts among rich countries, and is heavily concentrated among children from African-Americans and Hispanic families. In large cities, often less than half of all the children enrolled in public schools end up graduating.


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Thanks for posting this. Interesting to see the difference between income between rich and poor prior to the recession. Curious to see where we go from here!

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These are all inter-related facets and fundamental to one another. Much of this, in the end, is rooted in tradition, as tradition is another means of expression and symbolism.

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