H.L. sent this item: Oil Set to Rocket. HJL Adds: This sounds interesting. My concern is the statement: “The oil companies will be raking it in…” I’ve heard this before and it smacks of the 1% talk. The oil companies may make a pretty good profit, but nowhere near as good as some other companies.
I have been receiving a large number of submissions regarding income inequality, usually describing that the top 1% now have as much as one half the world’s wealth. It seems repugnant at first, but it’s important to note that this concept is based on an incorrect reading of data and statistics. Here are a few links I pulled up refuting that assertion: The Income Inequality Myth, 6 Myths About Income Inequality In America, and Myths About Income Inequality In America and Occupy Wall Street is Wrong. It’s important to understand that when a person creates wealth, they are not taking more of the pie from you; they are actually creating a bigger pie. It’s really only government that forcibly takes from you.
On the other hand, 40% unemployment is a disturbing trend. This was sent in by an anonymous reader.
Items from The Economatrix: