The<00:00:00.320> problem<00:00:00.400> with<00:00:00.560> a<00:00:00.719> crisis<00:00:01.040> of<00:00:01.120> inequality

The problem with a crisis of inequality

The problem with a crisis of inequality which<00:00:01.920> is<00:00:02.080> as<00:00:02.159> you<00:00:02.240> say<00:00:02.399> if<00:00:02.639> if<00:00:02.720> you<00:00:02.800> have<00:00:02.879> a

which is as you say if if you have a

which is as you say if if you have a broad<00:00:03.200> economic<00:00:03.600> weakening<00:00:04.000> everyone

broad economic weakening everyone

broad economic weakening everyone everybody<00:00:04.640> will<00:00:04.799> say<00:00:04.960> this<00:00:05.120> is<00:00:05.279> bad.<00:00:05.520> The

everybody will say this is bad. The

everybody will say this is bad. The problem<00:00:05.839> of<00:00:06.000> a<00:00:06.160> crisis<00:00:06.400> of<00:00:06.480> inequality<00:00:06.960> is<00:00:07.279> it

problem of a crisis of inequality is it

problem of a crisis of inequality is it looks<00:00:07.680> great<00:00:07.839> for<00:00:08.000> the<00:00:08.160> top<00:00:08.320> 1%<00:00:08.960> and<00:00:09.120> it<00:00:09.280> looks

looks great for the top 1% and it looks

looks great for the top 1% and it looks pretty<00:00:09.679> good<00:00:09.760> for<00:00:09.920> the<00:00:10.080> top<00:00:10.240> 5%.<00:00:11.280> How<00:00:11.599> many

pretty good for the top 5%. How many

pretty good for the top 5%. How many people<00:00:12.719> outside<00:00:13.120> of<00:00:13.200> the<00:00:13.360> top<00:00:13.599> 5%<00:00:14.240> are<00:00:14.480> in<00:00:14.719> this

people outside of the top 5% are in this

people outside of the top 5% are in this conversation?<00:00:15.440> Top<00:00:15.759> level<00:00:15.920> politics,<00:00:16.400> top

conversation? Top level politics, top

conversation? Top level politics, top level<00:00:16.880> economics,<00:00:17.440> top<00:00:17.600> level<00:00:17.840> academia,<00:00:18.480> top

level economics, top level academia, top

level economics, top level academia, top level<00:00:19.199> media,<00:00:20.000> top<00:00:20.240> level<00:00:20.640> central<00:00:20.960> banking.

level media, top level central banking.

level media, top level central banking. Basically<00:00:21.920> what<00:00:22.160> you<00:00:22.320> have<00:00:22.400> is<00:00:23.039> you<00:00:23.279> have<00:00:23.439> a

Basically what you have is you have a

Basically what you have is you have a bifocating<00:00:24.320> economy.<00:00:24.800> You<00:00:24.960> have<00:00:25.039> economy

bifocating economy. You have economy

bifocating economy. You have economy which<00:00:25.600> is<00:00:25.760> splitting.<00:00:26.320> The<00:00:26.560> top<00:00:26.800> 1%<00:00:27.359> is

which is splitting. The top 1% is

which is splitting. The top 1% is aggressively<00:00:28.000> splitting<00:00:28.240> off<00:00:28.560> and<00:00:28.720> the<00:00:28.880> top

aggressively splitting off and the top

aggressively splitting off and the top 5%<00:00:29.519> are<00:00:29.679> kind<00:00:29.840> of<00:00:29.920> hanging<00:00:30.160> on<00:00:30.240> to<00:00:30.320> their

5% are kind of hanging on to their

5% are kind of hanging on to their coats.