Consequences

The title could mean many things, but we'll look at only one. The 'Cult of me' post looked at imbalances that come about in life. For instance, China and others have a big bucket of bucks while the US worker drowns in a sea of debt. And, the worker has no life-jacket in many cases.

The following chart that comes to us from the Wall Street Journal opens up a line of discussion, probably several, that can continue on the coming econoblog.

But, let's just put a few words. Essentially, it shows that the Lords take, which does not include a whole lot of other income, went from an astounding 28% to over 32%. Yes, we know that the Lords are a way smaller set, orders of magnitude smaller. Yet, they laugh on their way to the bank with a cornucopia.

Needless to say, at the same time, the large set of un-Lords has seen their take diminish except for a few who have scaled the rungs of the meritocracy ladder.

Consequences, indeed. We have to ask, though, of what? How has this come about?

Remarks:

11/27/2011 -- Continuation, somewhat.

09/03/2009 -- Are these guys/gals 'miracle' workers or only stand-ins? Give us a break, please!

07/31/2009 -- Let's see, 5,000 got over $1M for services rendered. Well, that's probably a sign of being a best-and-brightest, at least to certain eyes; it's called rolling-in-the-dough.

Now, this can be used to illustrate how the game it to fill the pockets of a small set to an exorbitant amount. Does the game need to be that way? Hell no. We'll look at that some more.

07/29/2009 -- For the econoblog, leaning toward FEDaerated, for obvious reasons.

07/23/2009 -- We see Goldman raking it in. Too, some of the hedge funds have bled, some almost fatally, while at the same time a few have raked it in. How ought we get the type of accounting done that is required? Expect an econoblog soon.

11/27/2011