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Monday, December 5, 2011

Financial News 12/5/2012-Patronage Declines Proportional to Income Gap Increases

Money buys a lot, including people and when that fiscal patronage starts to slip, things like the Occupy movement start to occur.  It is clear that income disparity is on the rise, it has been noted time and time again, year after year. The Organization for Economic Cooperation and Development (OECD) is among the more recent of institutions issuing an official statement on the matter. Specifically, the OECD reported this gap is at a 30 year high among the 34 OECD countries.

It would seem membership in the OECD is to income disparity, as membership in Facebook is to friendship with Mark Zuckerberg. In other words, by definition, economic cooperation means improving economies, not the lives of all people who constitute those economies. In this context, crying foul is a mere complaint about a subscription to capitalism, but are the terms of that subscription negotiable. The Occupy movement seems to think so, and wants to renegotiate the social contract.

Reuters: U.S. Fed and 17 Euro-banks may fund IMF loans
Live Leak: Occupy D.C. 'People's Pavilion' torn down
WSJ: Government corn crop statistical forecasts are faulty
OECD: Income disparity an issue to be dealt with by governments
AP: Austerity cuts spreading to Italy via PM proposal to cut $40.5 billion
Bloomberg: Spanish economy slowing per industrial and service data

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