Who Is The Missing Man?

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Friday’s Wall Street Journal had a very good story about the State government failing to go after Pedro Espada in 1995.

But for some reason, the story did not list the name of the man who was Governor at the time.

I wonder why.

Hmm, could it be because the Governor wasn’t named Cuomo, Spitzer or Paterson?

http://online.wsj.com/article/SB10001424052748703395204576023843352497746.html

Income Inequality and Debt: Just A Coincidence?

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I just glanced over this report, and was struck by the chart on page 1, which shows the share of U.S. income taken by the top 1.0% of earners from 1914 to 2006. It shows the share of U.S. income going to the wealthy soared in the 1920s, just before the Great Depression, and in recent years, just before the Great Recession. This is nothing I didn't know. But what struck me was the almost exact match to the total credit market debt to GDP chart, found on this website. Total U.S. debt also soared in the 1920s, fell in the Great Depression, remained low for a while, then soared again in the 1980s and 2000s. Party on!

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