Inequality is on the rise, the middle class does no longer exist, finds Market Watch.
Actual paper at the National Bureau of Economic Research (TLS Warning: Weak Signature Algorithm).
Tumblr of the day is a pretty good podcast: The Daily by the NYT is commute length and gives a good and unexcited overview about what happened in the US while you slept.
The Podcast is available from the NYT website, or via the usual subscription mechanism provided by your podcast app (I am using Pocket Casts)
Quartz dissects Bannon, and what that means for the future. It does not look good.
It is, in his view, one of a repeated cycle of crises that occurs periodically, each of which inevitably culminates in war and conflict on a grand scale.
“This is the fourth great crisis in American history,” he says in the speech to the LRF. “We had the revolution, we had the Civil War, we had the Great Depression and World War II. This is the great Fourth Turning in American history.”
“This may be a little more militant than others…I believe you should take a very, very, very aggressive stance against radical Islam…. See what’s happening, and you will see we’re in a war of immense proportions.”