I just heard this on NPR, and could not have said it more succinctly myself...paraphrasing....
The problem is not the banks, the problem is not toxic assets, the problem is not Wall Street, the problem is not the housing debacle. The problem is us, we the people. We have been living an ever increasingly high (luxurious) standard of living for the past 25 years. Here is the kicker. We have been paying for it using BORROWED money.
We. We, the people are the ones responsible for where we are.
Have a nice day.
2 comments:
One big Ponzi Scheme, isn't it?
Yes, Nancy. Ours is an economic system based on separating people from their cash.
The only goal, as I see it, to separate someone from their cash, is so the 'separator' can benefit where the 'separatee' is minus the cash. Why would a system evolve such that the accumulation of cash (wealth) is a bad thing for the masses, and should be reserved only for the select few.
This may seem to be a sophomoric over-simplification of capitalist profit motives, but it's how I see it.
You know me well enough to know I could go on and on, and have lots of pent up 'stuf' inside, waiting to come out, on this subject.
I may, later.
Post a Comment