Monday, March 23, 2015

Billionaire Hedge Funder Paul Tudor Jones Says Inequality Will End


"If something cannot go on forever, it will stop."
-Herbert Stein, Problems and Not-Problems of the American Economy.” June, 1989

I changed the headline because I was thinking of Stein. Please see the original below.
From CNBC:

Hedge-fund billionaire says inequality could be 'disastrous'

Hedge fund billionaire Paul Tudor Jones said the growing gap between the rich and the rest could be "disastrous," and that the drive for corporate profits has "ripped the humanity" from American companies.
Speaking at a sold-out TED Talk in Canada this week, the co-chairman of Tudor Investment and a man Forbes says is worth $4.6 billion, said current levels of inequality may be unsustainable.
"The gap between the 1 percent and the rest of America, and between the U.S. and the rest of the world, cannot and will not persist," he said. "Now here's a macro forecast that's easy to make, and that's that the gap between the wealthiest and the poorest, it will get closed. History always does it. It typically happens in one of three ways—either through revolution, higher taxes or wars. None of those are on my bucket list."...MORE