3 ms·
>wealth gap is nearly entirely explained by real estate. 1) Reagan fired the air traffic controllers in 1981. 2) This set off a wave of anti-union action - ht
by crdoconnor 10y ago
>wealth gap is nearly entirely explained by real estate.
1) Reagan fired the air traffic controllers in 1981.
2) This set off a wave of anti-union action - http://www.alternet.org/story/154595/how_ronald_reagan_broke_the_air_traffic_controllers_union--and_why_that_fight_still_matters http://www.alternet.org/story/154595/how_ronald_reagan_broke... - causing the great decoupling of wages and productivity: https://upload.wikimedia.org/wikipedia/commons/4/45/Productivity_and_Real_Median_Family_Income_Growth_1947-2009.png https://upload.wikimedia.org/wikipedia/commons/4/45/Producti...
3) ...which caused staggering levels of wealth inequality: http://www.bankers-anonymous.com/wp-content/uploads/2015/04/wealth-inequality.jpg http://www.bankers-anonymous.com/wp-content/uploads/2015/04/...
4) And all that accumulated wealth ended up being lent back in the form of loans (e.g. student loans), mortgages as well as bidding up the price of real estate which your grandma - a 'boomer' profited a small amount from - which is why this is actually all her fault.