"from the late 1960s onwards, private sector debt in the US began to exceed GDP. It built up to wildly unstable levels from the late 1990s, peaking in 2008."
This period also corresponds to the relative decline of worker's salary and the rise of managerial and corporate profits. The 1% now sit on wealth amassed at the expense of these workers, wealth that increased especially in the past decade. Making up the worker's deficit -- food, clothing, shelter, education, infrastructure, etc., things they need so they can work and get to work -- has fallen to government. Social programs. The workers.
Question: Why are we putting up with this sleight of hand corporate handout? Oh. That's right. They're the "job creators". And we are moving to a new form of slavery.
Yes. We need to rethink all this, don't we. There is simply no defending it.
more: If Top 1% Hadn't Ripped Off Trillions, You'd Likely Be Making Thousands of Dollars More Right Now
EXTRA CREDIT: Bankers’ Salaries vs. Everyone Else’s