[jsankey]

Then how do you explain the low socio-economic mobility in the US?

http://en.wikipedia.org/wiki/Socio-economic_mobility_in_the_...

The good news is everyone is getting richer (rising tide), the bad news is inequality is increasing and low mobility is nothing to be proud of. Like logicchains I'm Aussie and we fare better at the moment, though we're also starting to head in the wrong direction by these measures.

[lectrick]

Isn't your government incredibly conservative at the moment?

[jsankey]

Yes it is, and if they get their way I believe it will be a disaster for both equality and long term growth here. They are aiming to move education and health to more of a user pays model (which makes no sense given the evidence worldwide) and continue their party's privatisation-by-stealth in both areas.

Fortunately they are not very competent and do not have full control of the parliament, so most of their bills have been blocked by minor parties.

[orthecreedence]

The scary thing is that the largest players in the private market here financially back (or lobby for) a lot of the shenanigans that happen in the capital...denial of climate change, privatization (or abolishment) of public services/utilities, slashing education, etc etc.

The not very competent people who wave snowballs around in congress, send bitchy letters to Iran and Israel, and squawk about #OBAMANET have full corporate sponsorship and the propaganda machine that is our media keeps getting these imbeciles elected.

The US is definitely treading water right now. I remain hopeful, but not optimistic.