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AZ Senate passes repeal of 1864 near-total abortion ban; Campus protests opposing the war in Gaza grow across CA; Closure of Indiana's oldest gay bar impacts LGBTQ+ community; Broadband crunch produces side effect: underground digging mishaps.

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Campus Gaza protests continue, and an Arab American mayor says voters are watching. The Arizona senate votes to repeal the state's 1864 abortion ban. And a Pennsylvania voting rights advocate says dispelling misinformation is a full-time job.

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Bidding begins soon for Wyoming's elk antlers, Southeastern states gained population in the past year, small rural energy projects are losing out to bigger proposals, and a rural arts cooperative is filling the gap for schools in Pennsylvania and West Virginia.

Did Wealth Inequality Help Cause The Great Recession?

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Friday, October 21, 2011   

JEFFERSON CITY, Mo. - The "99 Percent" movement continues to spread from Wall Street to Main Street, including Missouri. And according to one of the architects of the Clinton era prosperity, the protesters have a point when they criticize the gap between the richest one percent and everyone else.

Former Labor Secretary Robert Reich says concentrating wealth at the top makes the entire economy weaker because it undermines consumer demand.

"The only way the vast middle class and working class can keep the economy going and keep spending, is by going deeper and deeper into debt. And of course, those debt bubbles eventually explode."

Contrary to accepted dogma, Reich says increasing money for investment by the top one percent is not the best way to create jobs. He says the wealthy tend to funnel their money into just a few places, which also makes the economy fragile.

"People at the top are taking their assets and they are investing them in a limited number of asset classes, which inevitably generate speculative bubbles."

Conservatives have argued for lower taxes on businesses as a way to spur job creation. But Reich says they already have $2 trillion in the bank – and they're not investing now.

"It's not as if businesses are not creating jobs because they don't have enough money or they don't have enough profits. The reason they're not creating jobs is they don't have enough demand."

Reich, who is now chancellor professor of public policy at the University of California, Berkeley, says inequality is worse now than at any time since the Great Depression. Real hourly wages for most Missouri workers have fallen over the last three decades, while the wages of those at the top have increased.

In Missouri, more protest events are planned through this weekend throughout the state.



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