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On Tue, 14 Jun 2011 00:52:13 -0400, wrote:

On Mon, 13 Jun 2011 17:43:03 -0400, wf3h wrote:

then why have the richest 1% gotten so much bigger?

Because government tax policies and import policies made it a lot more
profitable to make things offshore and import them.
That started in the 90s (GHW Bush/Clinton)
Then you had the Clinton era deregulation that made the idea of money
making money more attractive than actually making anything.
Most of that Clinton era business boom was just an illusion (fraud,
phony profits and irrational exuberance in the stock market) and the
GW Bush boom was all based on borrowing money that didn't exist.

The people who got rich were the ones who knew when to cash in before
both bubbles popped.

So, Greenspan was an oracle? Not really...

http://www.nytimes.com/2008/10/24/bu...y/24panel.html