Rich Getting Richer, Poor Getting Poorer

Study Shows Gap Growing Between Rich and Poor

Wealthy households are not only widening the gap with the poor, but in countries such as the U.S., Canada and Germany they are also leaving middle-income earners further behind, with potentially ominous consequences if the global financial crisis sparks a long recession.

This news should not be too surprising to those here on ATS, but it is nice to see that there are official reports stating this.

With all of the economic insanity running around here recently, it is important to remember that the people that will be effected the most are the poor and middle class people, ie. the VAST MAJORITY of us. If a millionaire loses $100K, it hurts, but is manageable. If a working stiff loses $5K, it can potentially throw their world into disarray. I hope the government has a bailout package ready for us if/when the unemployment rate starts spiking!

I have always enjoyed Business Week. I do wish however they would write about corporate fraud on a real level but then none of the companies would talk to them.