The Great Divergence?

[What Would Jesus Do?]

Rick Santareli is talking about the Fed raising rates and the coming "Great Divergence."

I'm sure someone here can explain that for us.

I understand that the long-predicted rate boost is almost certainly coming. And that this will have some impact on bonds (Santareli's fiefdom). But what is this Great Divergence he's talking about?

 

[IACub]

Historically speaking it refers to a period in the last 2-3 centuries where the majority of wealth in the world was centered in the West. What I assume he's talking about modern-day is a broadening of the gap between the rich and poor.