Sunday, October 17, 2010

Robert Reich - Aftershock

In this progressive manifesto, Robert Reich, former Sec. of Labor under President Clinton and currently a professor at Berkeley, says that the cause of the recession is income inequality, the same root cause of the great depression of the 1930's. His reasoning is impeccable and totally persuasive. Until this situation---the growing disparty between the richest and the poorest and the erosion of the middle class in this country---changes the economy will continue to decline.

Under the Republicans too much national income has gone to the rich, which drives the middle class to credit, creating a bubble that inevitably burst. The situation is only getting worse.

Progressives are concerned about income inequality. You will never hear conservatives talk about this issue.

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