But who can provide them the needed security?
By Jack E. Lohman
It used to be that motes around the castles would protect the rich from club-wielding peons, but now with shoulder-fired missiles that’s out. And with our new breed of pirates, not even small islands in foreign countries will protect them. Where will the rich go (the poor babies…)?
Why don’t they just say enough is enough and do the right thing? They will not like where their cash is leading our country. Without a middle class to buy their product it will be dry sailing.
It’s not that they have gotten rich that is so bad, it’s that many have acquired it from ordinary folk and trashed the economy in the process. The top 1% of the public now owns 22% of the nation’s wealth — the same as in 1929 — not so much by expanding the GDP but by dishonest and clever manipulation of the stock market.
Where, incidentally, many of our 401(k)’s and retirement plans once resided but has recently transferred to the wealthy.
“While the world economy collapsed, the Fortune 400 richest Americans increased their wealth by $30 billion. From where did that new wealth transfer from? From the poor and middle classes. It could come from nowhere else. But for better or worse, the perps stole from all countries that had assets, and not just ours. That also makes prosecution more complicated.” Source
Yea, I get tired of talking about it, but it isn’t changing for the better. It’s getting worse. Estimates are that it will be ten years before our economy rebuilds itself, and even then the jobs of old will be gone for good. It is best that today’s unemployed train in new fields that can’t be outsourced.
It’s a hard subject because even the conservatives have room to complain. Like against public sector unions demanding and getting $150,000 per year jobs with Cadillac health care and retirement at 50 with 90% of your last years’ salary. And in Bell, CA, the city manager earns $787,637 — with annual 12 percent raises and 80% of salary for retirement — and it pays its police chief $457,000. See this video.
Wow, even as a CEO I didn’t take home that kind of dough.
Cities and states will simply have to declare bankruptcy and rebuild from scratch, but can the U.S. do that?
The fact is, the top 10% are getting richer and the bottom 80% poorer. No country can sustain itself with imbalances of that kind, and history shows that when the bottom tier gets trampled enough they fight back. Physically. A bloody rebellion is unavoidable with our current trend.
We really lose the battle when we allow the corporate interests and elites to divide the community into sectors fighting each other when the real culprit is the campaign cash that corrupts the political system. They like that a lot!
Can it be stopped?
Not with corrupt politicians who are willing to take bribes and a piece of the action for services rendered. Only a 100% turnover in November will suffice.