The economist, Edmund Saez, has been a pioneer in the field of refining statistics on income inequality in the United States. He has just updated his statistics with Internal Revenue Statistics from 2012 and his conclusions are that income inequality is getting worse. The vast majority of income growth since 2009 has been captured by the top 1% of the income earners. The statistics are rather stunning. The issue of underconsumption keeps getting more urgent in the global economy.
Many countries have detained prisoners without identifying who they were or providing access to legal counsel. But the recent memos institutionalizing this behavior in the US came as a shock to many, largely because of the long history of legal protections in the US. Now it appears that another democratic country, Israel, is engaged in similar activities. The erosion of human rights in liberal democratic states is a very worrisome trend.
This post has absolutely nothing to do with world politics, but it is an incredible story of a French driver whose car sped up beyond his control (to 125 mph) and how he survived driving it until the car ran out of gas. I don’t think I will ever buy a Renault.
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