Detailed text transcripts for TV channel - MSNBC - 20120504:16:33:00
>> well, if we start with the mid-20th country incomes were becoming more equal as the economy was booming, '50s and '60s from about 1934 through 1979 we saw incomes become ever more equal in the united states. that reversed after 192379. incomes became more unequal, steadily more unequal. and i think the debt numbers you cite reflect the fact that a lot of people are trying to keep up with the joneses by borrowing. >> right, the sense that i will go into debt to maintain my lifestyle and or pay for my student loans or my credit card debt or my mortgage. paul krugman today in the "new york tim...
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