America faces its iceberg of inequality, debt

SMU Adjunct Professor of Strategy and Organisation Joergen Oerstroem Moeller discussed how inequality and debt were pushing the United States towards a deadly spiral promising a slow and painful end game, precisely at a moment when the world needs a revival and confidence, as do the Americans. He expected three possible outcomes to get out of the debt trap: tax the poor and exempt the rich, gamble on a strong economic recovery even if it was nowhere in sight or break the back of the privileged. Furthermore, geographical and social mobility were declining. There were also some “ticking time bombs” in sight as more patents filed by American companies were due to foreign nationals in the US who could leave anytime and higher education cost.

Source
TODAY