If "no news is good news," then all of the recent economic news must be.... And, in fact it is bad news. We have at least 16 banks under investigation over the Libor scandal-basically, banks price fixing interest rates, to communities going bankrupt, EU economic meltdown, slow job growth, slowdowns in China, blah, blah, blah.
This all started with e 2008 bank meltdown and subsequent bailouts along with their raising interest rate to consumers, failure to make loans and unwillingness to re-write mortgages. Of course, this is all still going on. However, to most, the problem seemed aloof, a drama playing out on Wall Street, a place far removed from reality. But lately things have really begun to 'trickle' down to Joe Big Mac. Salaries cut to minimum wage for police, firemen, etc; tax increases, loss of benefits, people fighting to destroy any hope of quality health care, fear over fights regarding social security, and folks now turning back to credit cards to make ends meet.
Yes, we now have trickle down disaster. My question is, why is it that wealth won't trickle down, but disasters do?
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