Monday, January 20, 2014

Why the sudden increase in Income Inequality ??

If I see one more Rent Seeker trying to get more money for the Democrat Party Vote Farm by pointing out income inequality, unequal growth, and comparisons of The Golden Age Of Disco to now, I'm going to lose my damn mind. 

Yes.  The bottom 10% of the lowest quartile has not done as exponentially well as the upper quintile of the top 1%.  Or something.  

This disparity will only increase with globalization, and I'm glad of it.  Bill Gates has done far more for me than I've done for him.  This also applies to office personnel in Korea and Shanghai who use Bill Gates' software. 
Gates make money in ways that Henry Ford couldn't touch.  Very few Fords made it to Korea and Shanghai in Henry Ford's lifetime. 

Justin Bieber sells well in Russia and in Jerusalem.  Jenny Lind, the "Swedish Nightingale" who died in 1887, did not. 

But I digress.....

Here's one of the only charts that matter.  Male earnings are in red, female in blue.  Bachelor's degrees are at the top, less than a high school diploma is at the bottom. 

Look upon this, and despair. 

Let's take it a notch higher, shall we? 

Paul Krugman had a column in today's issue of Pravda about "The Undeserving Rich".  (Paul Krugman's net worth is now around $2.5 million.  And unless worth is generated by flip-flopping around like a catfish on a riverbank, Krugman is truly undeserving of his millions.) 

The column linked to this gem by Lawrence Mishel and Colin Gordon

Disregard that people generally don't wake up in one income percentile and stay there for their entire lives. 
Disregard that there is a 20% chance that you will, for one year of your life, be part of the Top 2%. 
Disregard that America's poor have higher incomes than the average European. 

Here's the income change from 1979 to 2012, according to Mishel and Gordon.  This is on the front page of the piece linked to by Krugman. 

But, thanks be to God, you can hit the little button on the right and take a look at what has happened since "The Greatest Government Orgy Of Recovery And Jobs Spending In History" took place. 

Despair some more, O Ye Keynesians. 

That's all I've got. 

Hope you finish school.  Don't get pregnant to someone you're not married to, and don't get married until you're about 25.  Don't become an alcoholic or a drug addict.

Abide by that, and you have a 98% chance of escaping poverty. 

Unless, of course, Barack Obama decides to help us some more.  The Porkulus Package, Cash For Clunkers, the Green Scams, and most all legislation of the last 5 years were for the rich, and not for you. 

If Washington keeps helping, then all bets are off.  Go ahead and start your drug habit now. 

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