Former Labor Secretary Bob Reich explains how current economic policies recommended by Republicans and some democrats to put more money in the hands of the banks and the investment class cannot succeed because the middle class cannot purchase what the investment class produces. The remedy must be to create purchasing power in the middle class and no conversation in Washington is openly addressing this issue. America has therefore concentrated its wealth to a degree not seen since 1928 and the consequence is the same. Too much money at the top and not enough in the middle and bottom has produced the biggest crisis in American economics since the great depression and with much of the same cause.
Bob Reich
December 4, 2010
KSFR, 101.11 FM, Santa Fe, NM
Listen