Sunday, November 16, 2008

The combination of low wages and low savings is deadly


Source: "Towards a Redefinition of the Middle Class," Of Two Minds.com, Charles Hugh Smith
Source: "How a Low Wage Economy with Weak Labor Laws Brought Us the Mortgage Credit Crisis"

Comment: In case you had any doubt about the economic problems that are facing the United States. A significant cause of the problem has been the Reagan Revolution, and the changes in economic policy that it has left for both Republican and Democratic administrations. JAD

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