By James Carroll
Will the fiscal collapse that has laid bare gross inequalities in the US economic system lead to meaningful reforms toward a more just society? One answer is suggested by the bursting of what might be called the “other housing bubble,’’ for these two years have also brought to crisis the three-decade-long frenzy of mass imprisonment. If there was a bailout for bankers, can there be one for inmates?
It is commonly observed now that, beginning about 1981, during the Reagan administration, the wealth of a tiny percentage of top-tier earners sky-rocketed, while the wages of the vast majority of Americans went flat. A rapid escalation in the illusory value of homeownership soon followed.
Continue reading the article . . .
Catherine Austin Fitts’ Blog Commentaries
Catherine’s Letters to New York Times “Tapeworm” Economics of Prison Stocks
By Catherine Austin Fitts (15 Oct 10)
Dillon Read & The Aristocracy of Stock Profits
By Catherine Austin Fitts