Daily Reading on the Financial Markets: 3/12/13
No surprise here, but Foodstamp recipients hit a new all time high as nearly 20% of the U.S. population is receiving Foodstamp benefits. Further evidence that monetary policy is incredibly useful in fighting poverty. Incredibly.
Zero Hedge points out that when wondering why healthcare costs continue soaring, we need look no further than lobbying contributions. The ROI has been astounding for Big Pharma, who has spent nearly double any other industry in lobbying since over the last 15 years.
Ezra Klein at the Washington Post on America’s egregious wealth distribution problem. The video that prompted the article has basically gone viral, so you’ve probably already seen it. In case you haven’t, it confirms what we already know about wealthy inequality in the U.S.: