The Real State of the Union

Posted on January 29, 2014 by Lambert Strether

By Hugh, who is a long-time commenter at Naked Capitalism. Originally posted at Corrente.
The state of the Union is crap. 20% of the country is doing OK. 1% is doing fantastically. 0.001% is doing so well it’s criminal, literally. They don’t own everything yet but they do own the politicians, judges, regulators, academics, and reporters. So they’re getting there. The other 80%, the rubes, the muppets, the serfs, are mired in an undeclared, ongoing depression.

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