Ignorance about income disparity in the United States

According to this article in Slate, Americans are ignorant of how outrageous wealth disparity is in the United States:

According to the Harvard study, most people believe that the top 20 percent of the country owns about half the nation’s wealth, and that the lower 60 percent combined, including the 20 percent in the middle, have only about 20 percent of the wealth. A whopping 92 percent of Americans think this is out of whack; in the ideal distribution, they said, the lower 60 percent would have about half of the wealth, with the middle 20 percent of the people owning 20 percent of the wealth.What’s astonishing about this is how wrong Americans are about reality. In fact, the bottom 80 percent owns only 7 percent of the nation’s wealth, and the top 1 percent hold more of the country’s wealth – 40 percent – than 9 out of 10 people think the top 20 percent should have. The top 10 percent of earners take home half the income of the country; in 2012, the top 1 percent earned more than a fifth of U.S. income – the highest share since the government began collecting the data a century ago.

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Karl Marx was correct about these ill-affects of capitalism

Rolling Stone points out that, despite some huge problems with his proposed solutions, Marx was correct about these ill-effects of capitalism. 1. Capitalism's Chaotic Nature 2. Imaginary Appetites 3. The Globalization of Capitalism 4. Monopoly 5. The Reserve Army of Industrial Labor

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All roads now lead to two Americas

Mike Morris offers us a timely proposal at his website, Funmentionables. The article, complete with Mike's brand of Bible quoting humor, ends ominously with a declaration that there are two Americas. Here's his opening which, in his hallowed tradition, he supports with Bible chapter and verse:

On January 28, 2014, Representative Michael Grimm (R-NY-11) issued a direct verbal threat to a reporter inside the Capitol building by saying “I’ll break you in half” and “throw you off this f---ing balcony,” which was a direct violation of D.C. law (District of Columbia Official Code, Division IV, Title 22, Subtitle I, Chapter 4, § 22-407): "Whoever is convicted in the District of threats to do bodily harm shall be fined not more than $ 500 or imprisoned not more than 6 months . . ." Rep. Grimm was never arrested for his actions, and Congress has taken no punitive action against him. By its inaction, the US Congress is essentially condoning a Congressperson’s right to threaten to kill average Americans, though conversely, when average Americans threaten the life of a public official, they are prosecuted to the full extent of the law. In keeping with this double standard and to codify for all time this special status, I propose the following: RESOLUTION
Expressing support for designation of January 28, annually, as “Throw a Reporter “Off This F---ing Balcony” Day”.

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Pope Francis takes aim at unbridled capitalism

The Washington Post reports on the Pope's recent writing on economic policy:

In the first lengthy writing of his papacy — also known as an "apostolic exhortation" — Francis says such economic theories naively rely on the goodness of those in charge and create a "tyranny" of the markets. "In this context, some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world," the pope wrote. "This opinion, which has never been confirmed by the facts, expresses a crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. Meanwhile, the excluded are still waiting."

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What is Quantitative Easing?

The more I hear about "quantitative easing," the more it is clear that it amounts to fucking with our nation's currency in a dangerous way. It's making me queasy, and like many things, there's very little straight talk in the mainstream media. I've recently run across a few things that amount to some straight talk. Here's one, and here's the other:

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