CHART: America’s Income Inequality is Spiraling Out of Control

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Chart of the Day: Daily Economic/Investment Trends for the Savvy Investor“Daily Economic/Investment Trends for the Savvy Investor”

INCOME INEQUALITY GROWS

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CHART: America’s Income Inequality is Spiraling Out of Control

Prior to the 2008 economic crisis, few Americans were fully aware of the growing wealth gap in America.

Today, however, it seems everyone is waking up to America’s income inequality. Perhaps it had something to do with the trillions of dollars Washington doled out to the nation’s banksters in the wake of the 2008 economic crash. So far, the top 1% of income earners have been the primary beneficiaries of the last several years of bailouts, quantitative easing, etc.

Meanwhile, the bottom 99% have seen their fortunes change little.

The anger is growing among America’s working poor. Mass movements like Occupy Wall Street were just the beginning…

If America’s income inequality continues to grow in the coming years, populist politicians will be swept into the highest seats of power by promising wealth redistribution schemes.

Unfortunately, the inequalities that pervade our economic system could be greatly reduced through some basic reforms, including closing corporate tax loopholes.

But, don’t hold your breath on those kinds of reforms as the corporations practically make the rules in Washington.

Until tomorrow,
Jerry Robinson

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(Courtesy of Finviz.com)


Investor Wire: Trends to Watch for the Savvy Investor

  • APPLE BEATS; HITS ALL-TIME HIGH. Apple reported another quarter of strong earnings after the market close yesterday, with quarterly profit up by 33 percent on the back of strong iPhone sales in the U.S. and China. (Bloomberg)
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  • CHINA PREPARES TO EASE. China’s central bank is planning to launch its own version of innovative credit-easing programs adopted by its counterparts in developed countries, according to officials with knowledge of the matter, as Beijing’s flagship plan to restructure trillions of dollars of local-government debts is hitting snags. (WSJ)
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  • OIL RALLY WEAKENS. Before deciding prices will race back to $100, here are five charts worth keeping in mind. (Bloomberg)
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  • PRAY FOR NEPAL. The death toll from Nepal’s devastating earthquake could reach 10,000, the prime minister said on Tuesday, as residents frustrated by the government’s slow response used their bare hands to dig for signs of their loved ones. (Reuters)

 

About the Author

Jerry Robinson
Jerry Robinson is the author of Bankruptcy of Our Nation: Your Financial Survival Guide. In 2010, Jerry created FTMDaily.com with a mission to wake up Americans and share with them the principles of true financial and spiritual liberty. Every Tuesday he hosts the FTMWeekly Radio, a podcast covering economic and geopolitical topics. Jerry has been blessed to be able to lecture around the globe on the topic of economic and geopolitical trends. He holds a degree in Economics from the University of Tulsa and resides with his family in the beautiful Ozark mountains. See more