Tuesday, October 21, 2008

It was only 79 years ago !!!!!

1929 may seem like an eternity ago for most. The worst economic disaster in this countries young history. In 1929 1% of the population had 90% of this countries wealth. This inequitable distribution of wealth was one of the main causes of the great depression. President Roosevelt's chief economic adviser explained it like this: "It's like a poker game where one player has the majority of the chips at the table. The game can continue only as long as the chip leader can loan chips to the other players until their credit runs out. After this it's game over. " Collapse of financial institutions is game over. When there is no longer working capital left to keep capitalism afloat we have a financial disaster.


Let's move to present day 2008. Again 1% of the population has over 90% of this nations wealth. The bottom fifty percent have less than 1% of the nations wealth. Does this sound familiar? It should've, it happened 79 years ago.

The financial bailout was the feeble attempt to put working capitol back in the system. The problem is that giving these monies to the top 1% only exacerbates the problem. Giving monies to the bottom fifty percent would be a more viable fix to the problem. A redistribution of wealth must occur.

How do we as the middle class help ourselves? We eliminate as much personal debt as we can. We can't sit back and expect our Government to fix this problem. How well did that work for the citizens of New Orleans? I know many people are financially strapped. It can be done a little at a time. There are many books that can help us all become debt free. We must have the fiscal responsibility that our government can't seem to muster. If we the people lead by example then and only then can we take our government to task. Let's rise above our governments hypocrisy, and set the example for them to follow.

Now let's look at the candidates financial plans, one gives more money to the rich, and one wants to distribute wealth.


If you think John McCain's plan to make the rich even richer is the answer, then first you need to bone up on your history, and again friends I think you are sadly mistaken.



Angry Fokker

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