In the U.S., with over 25 million Americans who can't find a job and with an existing workforce whose real incomes have stagnated for years (contrasted against corporate America whose income statement and balance sheet have never been stronger), it is abundantly clear that we live in uncertain times. What makes matters worse is that we don't know how bad it might be (if the negative feedback loop deteriorates further) for both our economy and for our stock market.
Speaking to Reuters late on Tuesday, looters and other local people in east London pointed to the wealth gap as the underlying cause, also blaming what they saw as police prejudice and a host of recent scandals. Spending cuts were now hitting the poorest hardest, they said, and after tales of politicians claiming excessive expenses, alleged police corruption and bankers getting rich it was their turn to take what they wanted. "They set the example," said one youth after riots in the London district of Hackney. "It's time to loot."-- Reuters
