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45:36
the references you make here goes to 30s
and referencing cow you know the top 1%
in the 30s versus today you know you
showed this that the top 1% in the 30s
versus today you know top 1% income
share has the same amount as the bottom
90% in the last time it was like that in
the authorities are you kind of
suggesting that we may be facing what
happened in the 30s years or no yes I’m
saying you so that is why I’m saying
there are three major divisions okay
three major forces and that force which
i think i emphasized the opportunity gap
not just the wealth gap but they both
matter if you look at history across
countries across timeframes
and you say when there’s a large income
and wealth gap and you have an economic
downturn you have a dangerous fight on
your hands you have a dangerous set of
circumstances history has taught us that
you said in April income inequality is
the biggest crisis we have in America on
60 minutes and I think in recent a
couple months ago you said wealth
inequality those are the two main things
that we ought to become I’m not saying
an even more fundamental those are the
outcomes and even more fundamental is
opportunity in quality and production
inequality because at the end of the day
just like you said we have to find how