Joseph Stiglitz attacks US ‘inequality’ – BBC News 01-24-13

Salient to Investors:

Joseph Stiglitz  said:

The richest 1% of Americans have doubled their wealth  since 1980 and now hold 25% of the country’s wealth, yet the median income level in the US had not changed since the early 1990s.

The American dream has gone: the US has one of the worst opportunity rates in advanced economies, and a child’s life chances are more dependent on the income of the parents than most other industrial economies.

A major bipartisan effort over the past 20 years had markedly improved equality in Brazil, while Scandinavian countries were leading the way with the highest levels of equality.

Read the full article at http://www.bbc.co.uk/news/business-21183987

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