For those disgruntled authoritarians among Ned's readers, he can report that feudalism, thought to have gone belly-up in the 17th century in the West and the early 20th in Russia, may be alive and well after all. In Sunday's NYT is a report that describes yet again the growing income inequality in the US. According to this, at present there is a 42% chance that a person born to a man and woman in the lowest fifth of the income scale will remain at that income level for life. This compares to a 30% chance for an English child and a 25% chance of a child born in commie pinko Sweden.
Ned's point is that as soon as that chance gets above 50% we can herald the arrival of The New Feudalism in the Greatest Country The World Has Ever Seen Or Ever Will See!
Ned wishes all his friends, serfs or not, a Happy New Year.
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