When Bubbles Fail: Beware the Fury of the 99%

The premise in Albert Edwards' latest letter "Is the Fed blowing bubbles to cover up growing inequality... again" is simple: the unprecedented social inequality in the US (and the rest of the world - as pointed out here), and what it will ultimately lead to. Regarding what it will lead to, Edwards believes, is that "growing inequality drains the swimming pool dry. The crunch, when it comes, will be ugly." Simple enough.