As a Wall Street Veteran of 22 years, and a student of history, I have seen many different business cycles and many different concerns about our economy. There is nothing more frightening than the dramatic increase in income inequality. We can begin to fix it. But we must act quickly.

Throughout the course of history, one phenomenon has consistently let to revolt: Income Inequality. From the fall of the Roman Empire to the French Revolution, once power became too concentrated in too few hands, the citizens demanded change oftentimes through violent upheaval. The income inequality in the United States in 2019 is a result of multiple factors. First, asset prices have been artificially inflated by Central Banks and government stimulus. Most asset value is concentrated in the hands of the top 1%. Therefore this disparity has only grown. Throw on recent corporate tax breaks and lower rates on the rich and the gap grows larger. Most of the workers in this country are woefully misaligned with the job market of tomorrow. They do not have the skills necessary and have not had focused education to teach them those skills. Opiate Epidemic and other drug related issues are also leading to people simply falling out of the workforce or giving up. This is fixable. But very hard to do. It requires a reallocation of money from Social Security (which the age to receive these benefits goes up) and Defense Spending (Now $700B / year) to a huge investment in Education and Drug and Alcohol Recovery. It requires bringing the company tax rate back up to 25%. Venice, CA one of the worst examples. You cannot buy a shack for less than $2 million, yet homeless people are spilling into the street.