Monday, December 06, 2010

Bernanke: "America is...creating two societies." Ultra Rich and The Rest of Us

This is a quote from a 60 Minutes interview with Ben Bernanke.  It's very important and really doesn't mince words.
Pelley: The gap between rich and poor in this country has never been greater. In fact we have the biggest income disparity gap of any industrialized country in the world. And I wonder where you think that's taking America.

Bernanke: It's a very bad development. It's creating two societies. And it's based very much, I think, on educational differences. The unemployment rate we've been talking about. If you're a college graduate, unemployment is 5 percent. If you're a high school graduate, it's 10 percent or more. It's a very big difference. It leads to an unequal society, and a society which doesn't have the cohesion that we'd like to see."

No comments: