Inequality and Unfuzzy Math

Posted by Bob Lord

We all remember W's "fuzzy math" line. When you're analyzing the distribution of wealth in America, the math is anything but fuzzy. It may be disturbing. It may be scary. But it's not fuzzy.

I read an old post today by Chuck Collins, who is one of the best writers on the subject of inequality. In that post from about a year ago, Collins noted that the top one percent has pocketed almost all of the wealth gains of the last decade. That little factoid should not be surprising, but it should be alarming, if you do the math.

Trillionaires

Posted by Bob Lord 

You
have to consult Dictionary.com for the definition of trillionaire. Webster’s
doesn’t recognize it as a word yet. But it will. Because before long America
will have its first trillionaire. If you’re under 60, it likely will happen in
your lifetime.

Ross Douthat’s Insightful Yet Incomplete Thoughts

Posted by Bob Lord

Ross Douthat is one of the conservative journalists I try to follow. I find him insightful, even if I often don't agree with him. 

In Saturday's Times, Douthat explored territory where no politician, D or R (or even L or G) dares to go: The possiblity that our economy may have matured past the point of providing jobs for all. In A World Without Work, Douthat acknowledges the reality of fewer jobs to go around:

Yet the decline of work isn’t actually some wild Marxist scenario. It’s a basic reality of 21st-century American life, one that predates the financial crash and promises to continue apace even as normal economic growth returns. This decline isn’t unemployment in the usual sense, where people look for work and can’t find it. It’s a kind of post-employment, in which people drop out of the work force and find ways to live, more or less permanently, without a steady job. So instead of spreading from the top down, leisure time — wanted or unwanted — is expanding from the bottom up. Long hours are increasingly the province of the rich.

Douthat correctly notes that the loss of jobs is not jeopardizing wealth creation, but actually is the result of it:

2014 AG’s Race: Felecia Is In!

Posted by Bob Lord

Felecia Rotellini officially entered the 2014 race for Attorney General today. That's great. She'll be a great candidate and will make a great AG.

Full press release follows after the jump.

Lemons on Arpaio Recall: If They Raise The Money, He’s Done

Posted by Bob Lord Actually, that was not just Steve Lemons, whose analysis is dead-on, as usual, but also Chad Willems, the Arpaio henchman in charge of fighting the recall effort. You can read Steve's entire analysis, here. Bottom line: if we all pony up, we can rid ourselves of this scourge. You can contribute … Read more