Countries with the biggest gaps between rich and poor

[flintlock]

http://finance.yahoo.com/banking-bud...-rich-and-poor

[Rajiv]

Re: Countries with the biggest gaps between rich and poor

There was a sub thread in one of Bart's thread that was interesting

Then there was another sub thread of The Face of Raising Unemployment from 2008

[Raz]

Re: Countries with the biggest gaps between rich and poor

I often find myself in agreement with Paul Craig Roberts (except for his occasional lapses of sanity, like believeing the collapse of the Twin Towers was an inside job by our government ).

He and I both detest the friggin' NeoCons. :mad:

This article appears to be germain to your thread, Flintlock.



The Rich Have Stolen the Economy

By Paul Craig Roberts

Bloomberg reports that Treasury Secretary Timothy Geithner's closest aides earned millions of dollars a year working for Goldman Sachs, Citigroup and other Wall Street firms. Bloomberg reports that none of these aides faced Senate confirmation. Yet, they are overseeing the handout of hundreds of billions of dollars of taxpayer funds to their former employers.

The gifts of billions of dollars of taxpayers' money provided the banks with an abundance of low-cost capital that has boosted the banks' profits, while the taxpayers who provided the capital are increasingly unemployed and homeless.

JPMorgan Chase announced that it has earned $3.6 billion in the third quarter of this year.
Goldman Sachs has made so much money during this year of economic crisis that enormous bonuses are in the works. The London Evening Standard reports that Goldman Sachs' "5,500 London staff can look forward to record average payouts of around 500,000 pounds ($800,000) each. Senior executives will get bonuses of several million pounds each, with the highest paid as much as 10 million pounds ($16 million)."

In the event the banksters can't figure out how to enjoy the riches, the Financial Times is offering a new magazine -- "How To Spend It." New York City's retailers are praying for some of it, suffering a 15.3 percent vacancy rate on Fifth Avenue. Statistician John Williams (shadowstats.com) reports that retail sales adjusted for inflation have declined to the level of 10 years ago: "Virtually 10 years worth of real retail sales growth has been destroyed in the still unfolding depression."

Meanwhile, New York City's homeless shelters have reached the all-time high of 39,000, 16,000 of whom are children.
New York City government is so overwhelmed that it is paying $90 per night per apartment to rent unsold new apartments for the homeless. Desperate, the city government is offering one-way free airline tickets to the homeless if they will leave the city ...

http://www.vdare.com/roberts/091015_economy.htm