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Category Archives: Rich-Poor divide
George Soros foresees US class war
In a recent interview with Newsweek, George Soros has said that he foresees “riots on the streets [in the USA] that will lead to a brutal clampdown that will dramatically curtail civil liberties.” This is not good news for US … Continue reading
Financial situation worsening; US and China economies stumble;
Financial System is still getting worse, not better: As Italian bond yields surge, and the IMF warns of a “lost decade” unless a way is quickly found to return the global economy to growth, the solutions already found to the Greek crisis are … Continue reading
Greece’s oligarchs prepare to make a pretty penny
This article in the FT describes how Mr Papandreou has been trying to crack down on Greece’s tax evaders, and how he revealed a fuel smuggling operation that is costing his country €3bn a year. Meanwhile the country’s oligarchs are: … Continue reading
Posted in Political/Economic, Rich-Poor divide
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US debate on rich/poor divide continues
Temporary measures to raise States’ top levels of income tax, introduced in response to the recession, are expiring. But support for extending them is widespread, even among some high earners. http://www.ft.com/cms/s/0/e80d6b60-f6a1-11e0-9381-00144feab49a.html
Dividends of FTSE 100 rise dramatically
How can it be that, at a time when the economy is struggling, economic forecasts are gloomy, the government is cutting back its spending significantly, “shareholders in UK companies enjoyed strong growth in dividends”? Growth in commodity prices helped mining … Continue reading
Of the 1%, by the 1%, for…
While protesters Occupy Wall Street for the third week it is interesting to stumble across an article in Vanity Fair (written in May this year) that says almost exactly the same things. The top 1% of Americans earn almost 25% of the national income … Continue reading
Increasing sentiment against wealthy?
Barack Obama was today expected to say that he would veto any deficit reduction plan that does not explicitly target millionaire taxpayers. And in the UK, rather more weakly perhaps, Vince Cable was expected to “ramp up rhetoric against the … Continue reading
Posted in Political/Economic, Rich-Poor divide
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