11 Dec '11, 3am

Singapore has third world standard of living

Shared prosperity is not just the vital cornerstone of social stability and cohesiveness but the key to a sound and sustainable economy. The support for many govts today depends very much on how well they tackle the issue of income inequality. Obama inherited the worst initial economic conditions since Franklin Roosvelt in the 1930s. If you can recall, the US and the world economy went into freefall in early 2009. Even before the financial crisis, the US economy had serious problems as the income inequality rose to levels that was only seen in 1929, the eve of the Great Depression. Obama was elected to office to address the income iequality problem and mitigate the effects of income gap by reforming healthcare. Howver, before he got around to solving the longer term problems, he had to find ways to stop the US economy from plunging into the abyss. The US economy has since ...

Full article: http://singaporemind.blogspot.com/2011/12/obama-in-kansas...

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