Obama on wealth inequality: 'There's only so much you can eat. There's only so

[Uncle Joe]

big a house you can have.’

(snip)

“And the result of all these trends has been an explosion in economic inequality. It’s meant that a few dozen individuals control the same amount of wealth as the poorest half of humanity. That’s not an exaggeration, that’s a statistic,” he said.

Indeed, 42 people have the same amount of wealth as the poorest half of the world, according to a study released in January by the global charity Oxfam. And 82 percent of the money made in 2017 went to the wealthiest 1 percent of the global population, the report says.

(snip)

With extreme wealth comes extreme power, Obama said.

“In every country, just about, the disproportionate economic clout of those at the top has provided these individuals with wildly disproportionate influence on their countries’ political life and on its media; on what policies are pursued and whose interests end up being ignored,” Obama said.

(snip)

https://www.cnbc.com/2018/07/18/barack-obama-on-wealth-inequality-only-so-much-you-can-eat.html

This is an outstanding read I regret only being able to post four paragraphs.

[NRaleighLiberal]

1. For the uber wealthy, there is no end to their lust for more and more

Power, money - they corrupt. It seems inevitable. One of human being's true faults.

[Uncle Joe]

2. That's definitely one of our greatest demons NRaleighLiberal.

I'm hoping that one day we can evolve past this point.

[dogman]

3. The Grand Old Pharaohs

They are going to take it with them in their Pyramids.

[Uncle Joe]

7. Dynasties run amok

it's in the DNA.

[BigmanPigman]

4. It has been 10 years since the BIG recession

but one thing that was not fixed was income equality. How does the govt control greed though? Can they limit wages for CEOs, etc through the law? That doesn't seem legal to me.

[lagomorph777]

5. Trump seems to be challenging that assumption.

[Marcuse]

6. Truth.