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Paulson says income disparity increasing but uses “average” # for trade bonus ($10,000) that hides effect at bottom wpo.st/Me_i1
Mickey Kaus
Kausfiles
Paulson says income disparity increasing but uses “average” # for trade bonus ($10,000) that hides effect at bottom wpo.st/Me_i1
@kausmickey The redistribution of income (from labor to capital & brains) swamps the gains of trade. Proof? Real hourly wages falling.
@kausmickey @Ricky_Vaughn99 Can’t trust numbers. Been cooking the books for generations. Just count the empty buildings on Main St.
@kausmickey “walling ourselves off”: trade or no trade is a false dichotomy. Trade without massive deficits is a possibility.
@kausmickey “7 billion people and the markets they represent”: near half on $2 a day can’t buy much but will work cheaply.