China is still much poorer over all than the United States. But the Chinese have taken a commanding lead in that most intangible but valuable of economic indicators: optimism. In a country still haunted by the Cultural Revolution, where politics are tightly circumscribed by an authoritarian state, the Chinese are now among the most optimistic […]
– Center on Budget and Policy Priorities Click here to see the source.
A White House report recently proclaimed that the “War on Poverty is largely over and a success.” United Nations Ambassador Nikki Haley said it was “ridiculous for the United Nations to examine poverty in America.” Well-positioned Americans must talk like this, of course, because admitting the debilitating state of poverty in America might provoke feelings of guilt for 35 […]
A decade after the financial crash, an epic repeat is on course. Two reports by Swiss banks, published within a week of each other, offer further revealing evidence on the growth of a wealthy transnational overclass. Credit Suisse finds that the fortunes of the very wealthiest people in the United Kingdom (those owning over $50 […]