wtf —there’s no fiscal crisis but we’ve got a big problem w/ China and income inequality?
Seriously?
No fiscal cliff type of crisis looming. China is a potential drag if they have a hard landing. Their government fueled multi-bubbles are going to burst and it will drag on the global economy.
I wouldn’t define the “growth” issue as inequality. But you’ve pointed out that real median incomes have declined. But if you look at the top 10% they have increased and the bottom 90% have fallen faster. The top 10% can’t drive consumer spending for long. But the problem is a lack of growth. Not “inequality.”