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Royal blood in America, red and blue

 

Last updated 1/10/2008 at Noon



mains a Third World country.

Glaring features of Third World countries include poverty, lack of democratic institutions, controlling oligarchies and the unequal distribution of income and wealth. The few enjoy a rich lifestyle while the many suffer poverty.

I wrote previously about Carlos Slim, mega-rich Mexican who controls seven percent of the wealth of Mexico.

Paul Krugman and many other economists have pointed out that US income disparity has become obscenely large and is increasing.

Another characteristic of Third World countries is that a major portion of their fiscal expenditures...



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