TIRED of INEQUALITY? Get used to it. Things look like they're only gonna get worse.

[Octafish]

Just when I thought, maybe, we had reached bottom and were ready to bounce up -- I discovered there may be no bottom -- for me and the large part of the 99-percent.



Economist Tyler Cowen of George Mason University has seen the future and it looks bleak for most of us. Thankfully, those at the top, though, are in for some more good times. He spoke about his findings with NPR's Steve Inskeep. I almost dropped my smartphone into my coffee while texting during rush hour, listening to the report this morning, I was so steamed.

Tired Of Inequality? One Economist Says It'll Only Get Worse

by NPR STAFF
September 12, 2013 3:05 AM

Economist Tyler Cowen has some advice for what to do about America's income inequality: Get used to it. In his latest book, Average Is Over, Cowen lays out his prediction for where the U.S. economy is heading, like it or not:

"I think we'll see a thinning out of the middle class," he tells NPR's Steve Inskeep. "We'll see a lot of individuals rising up to much greater wealth. And we'll also see more individuals clustering in a kind of lower-middle class existence."

It's a radical change from the America of 40 or 50 years ago. Cowen believes the wealthy will become more numerous, and even more powerful. The elderly will hold on to their benefits ... the young, not so much. Millions of people who might have expected a middle class existence may have to aspire to something else.

SNIP...

Some people, he predicts, may just have to find a new definition of happiness that costs less money. Cowen says this widening is the result of a shifting economy. Computers will play a larger role and people who can work with computers can make a lot. He also predicts that everyone will be ruthlessly graded — every slice of their lives, monitored, tracked and recorded.

CONTINUED with link to the audio...

http://www.npr.org/2013/09/12/221425582/tired-of-inequality-one-economist-says-itll-only-get-worse

For some reason, the interview with Steve Inskeep didn't bring up the subject of the GOVERNMENT DOING SOMETHING ABOUT IT LIKE IN THE NEW DEAL so I thought I'd bring it up. Older DUers may recall the Democratic Party once actually did do stuff for the average American, from school and work to housing and justice. But, we can't afford that now, obviously.

Oh, the good news is the 1-percent may swell to a 15-percent "upper middle class" while the rest of the middle class goes the other way. Gee. That sounds eerily familiar.