Home › Forums › Financial Markets/Economics › The Rise of the Rest – Newsweek
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May 5, 2008 at 9:20 PM #199501May 5, 2008 at 10:00 PM #199378CA renterParticipant
bsrsharma,
I agree with your points about Wall Street, etc. Personally, I think most of our “ills” can be traced to the mega-banks and corporations that run our country. Under no circumstances do I think the middle-class has any power over how this country is run anymore, and I think that’s where the doom-and-gloom is coming from. It’s why I’m very pro-union and favor a government very much run by “the people” and for “the people”.
I also think the PTB (mega-banks & corporations) have been allowed to take further control over our country’s power (read: money) because they’ve managed to distract the American citizenry by trying to create arbitrary divisions between people (Republican vs. Democrat; white vs. black; immigrant vs. native; rich vs. poor; pro-union/socialist vs. “wanna be” capitalist; right vs. left; liberal vs. conservative; etc.).
Most **thinking** people I know don’t fit into any of those categories, but the PTB are busy trying to convince us all that we must be on one side or the other — always bickering amongst ourselves while they’re left to manipulate the flow of money and power, without any oversight by “we the people”.
The credit bubble is just the latest manifestation of their accrued/accruing power. Look at who the winners are. Some people did exceedingly well during the past few years, and have very little fear of being held accountable for thier involvement. IMO, Greenspan was one of their tools. There’s no way he didn’t know what was going on, and what the end result would be.
The more I learn, the tighter I wrap that tin foil around my head. π
May 5, 2008 at 10:00 PM #199417CA renterParticipantbsrsharma,
I agree with your points about Wall Street, etc. Personally, I think most of our “ills” can be traced to the mega-banks and corporations that run our country. Under no circumstances do I think the middle-class has any power over how this country is run anymore, and I think that’s where the doom-and-gloom is coming from. It’s why I’m very pro-union and favor a government very much run by “the people” and for “the people”.
I also think the PTB (mega-banks & corporations) have been allowed to take further control over our country’s power (read: money) because they’ve managed to distract the American citizenry by trying to create arbitrary divisions between people (Republican vs. Democrat; white vs. black; immigrant vs. native; rich vs. poor; pro-union/socialist vs. “wanna be” capitalist; right vs. left; liberal vs. conservative; etc.).
Most **thinking** people I know don’t fit into any of those categories, but the PTB are busy trying to convince us all that we must be on one side or the other — always bickering amongst ourselves while they’re left to manipulate the flow of money and power, without any oversight by “we the people”.
The credit bubble is just the latest manifestation of their accrued/accruing power. Look at who the winners are. Some people did exceedingly well during the past few years, and have very little fear of being held accountable for thier involvement. IMO, Greenspan was one of their tools. There’s no way he didn’t know what was going on, and what the end result would be.
The more I learn, the tighter I wrap that tin foil around my head. π
May 5, 2008 at 10:00 PM #199442CA renterParticipantbsrsharma,
I agree with your points about Wall Street, etc. Personally, I think most of our “ills” can be traced to the mega-banks and corporations that run our country. Under no circumstances do I think the middle-class has any power over how this country is run anymore, and I think that’s where the doom-and-gloom is coming from. It’s why I’m very pro-union and favor a government very much run by “the people” and for “the people”.
I also think the PTB (mega-banks & corporations) have been allowed to take further control over our country’s power (read: money) because they’ve managed to distract the American citizenry by trying to create arbitrary divisions between people (Republican vs. Democrat; white vs. black; immigrant vs. native; rich vs. poor; pro-union/socialist vs. “wanna be” capitalist; right vs. left; liberal vs. conservative; etc.).
Most **thinking** people I know don’t fit into any of those categories, but the PTB are busy trying to convince us all that we must be on one side or the other — always bickering amongst ourselves while they’re left to manipulate the flow of money and power, without any oversight by “we the people”.
The credit bubble is just the latest manifestation of their accrued/accruing power. Look at who the winners are. Some people did exceedingly well during the past few years, and have very little fear of being held accountable for thier involvement. IMO, Greenspan was one of their tools. There’s no way he didn’t know what was going on, and what the end result would be.
The more I learn, the tighter I wrap that tin foil around my head. π
May 5, 2008 at 10:00 PM #199468CA renterParticipantbsrsharma,
I agree with your points about Wall Street, etc. Personally, I think most of our “ills” can be traced to the mega-banks and corporations that run our country. Under no circumstances do I think the middle-class has any power over how this country is run anymore, and I think that’s where the doom-and-gloom is coming from. It’s why I’m very pro-union and favor a government very much run by “the people” and for “the people”.
I also think the PTB (mega-banks & corporations) have been allowed to take further control over our country’s power (read: money) because they’ve managed to distract the American citizenry by trying to create arbitrary divisions between people (Republican vs. Democrat; white vs. black; immigrant vs. native; rich vs. poor; pro-union/socialist vs. “wanna be” capitalist; right vs. left; liberal vs. conservative; etc.).
Most **thinking** people I know don’t fit into any of those categories, but the PTB are busy trying to convince us all that we must be on one side or the other — always bickering amongst ourselves while they’re left to manipulate the flow of money and power, without any oversight by “we the people”.
The credit bubble is just the latest manifestation of their accrued/accruing power. Look at who the winners are. Some people did exceedingly well during the past few years, and have very little fear of being held accountable for thier involvement. IMO, Greenspan was one of their tools. There’s no way he didn’t know what was going on, and what the end result would be.
The more I learn, the tighter I wrap that tin foil around my head. π
May 5, 2008 at 10:00 PM #199504CA renterParticipantbsrsharma,
I agree with your points about Wall Street, etc. Personally, I think most of our “ills” can be traced to the mega-banks and corporations that run our country. Under no circumstances do I think the middle-class has any power over how this country is run anymore, and I think that’s where the doom-and-gloom is coming from. It’s why I’m very pro-union and favor a government very much run by “the people” and for “the people”.
I also think the PTB (mega-banks & corporations) have been allowed to take further control over our country’s power (read: money) because they’ve managed to distract the American citizenry by trying to create arbitrary divisions between people (Republican vs. Democrat; white vs. black; immigrant vs. native; rich vs. poor; pro-union/socialist vs. “wanna be” capitalist; right vs. left; liberal vs. conservative; etc.).
Most **thinking** people I know don’t fit into any of those categories, but the PTB are busy trying to convince us all that we must be on one side or the other — always bickering amongst ourselves while they’re left to manipulate the flow of money and power, without any oversight by “we the people”.
The credit bubble is just the latest manifestation of their accrued/accruing power. Look at who the winners are. Some people did exceedingly well during the past few years, and have very little fear of being held accountable for thier involvement. IMO, Greenspan was one of their tools. There’s no way he didn’t know what was going on, and what the end result would be.
The more I learn, the tighter I wrap that tin foil around my head. π
May 6, 2008 at 12:41 AM #199408patientlywaitingParticipantHere’s a review of Fareed Zakaria’s book in the NY Times.
I agree with the comments about the two costliest blunders — the Iraq war and Housing Bubble disaster.
The middle class does shoulder responsibility for those blunders. People elected a moron because they don’t bother to learn about the world. They supported Bush after 9/11 because misguided nationalism and revenge are what they cared about.
America will be fine but we just won’t be #1 in everything anymore. We won’t be the richest anymore. That will be a painful adjustment — a little like a well-off family having to move from Fairbanks to Mira Mesa.
It will take some hard work to rebuild the country.
May 6, 2008 at 12:41 AM #199449patientlywaitingParticipantHere’s a review of Fareed Zakaria’s book in the NY Times.
I agree with the comments about the two costliest blunders — the Iraq war and Housing Bubble disaster.
The middle class does shoulder responsibility for those blunders. People elected a moron because they don’t bother to learn about the world. They supported Bush after 9/11 because misguided nationalism and revenge are what they cared about.
America will be fine but we just won’t be #1 in everything anymore. We won’t be the richest anymore. That will be a painful adjustment — a little like a well-off family having to move from Fairbanks to Mira Mesa.
It will take some hard work to rebuild the country.
May 6, 2008 at 12:41 AM #199472patientlywaitingParticipantHere’s a review of Fareed Zakaria’s book in the NY Times.
I agree with the comments about the two costliest blunders — the Iraq war and Housing Bubble disaster.
The middle class does shoulder responsibility for those blunders. People elected a moron because they don’t bother to learn about the world. They supported Bush after 9/11 because misguided nationalism and revenge are what they cared about.
America will be fine but we just won’t be #1 in everything anymore. We won’t be the richest anymore. That will be a painful adjustment — a little like a well-off family having to move from Fairbanks to Mira Mesa.
It will take some hard work to rebuild the country.
May 6, 2008 at 12:41 AM #199500patientlywaitingParticipantHere’s a review of Fareed Zakaria’s book in the NY Times.
I agree with the comments about the two costliest blunders — the Iraq war and Housing Bubble disaster.
The middle class does shoulder responsibility for those blunders. People elected a moron because they don’t bother to learn about the world. They supported Bush after 9/11 because misguided nationalism and revenge are what they cared about.
America will be fine but we just won’t be #1 in everything anymore. We won’t be the richest anymore. That will be a painful adjustment — a little like a well-off family having to move from Fairbanks to Mira Mesa.
It will take some hard work to rebuild the country.
May 6, 2008 at 12:41 AM #199535patientlywaitingParticipantHere’s a review of Fareed Zakaria’s book in the NY Times.
I agree with the comments about the two costliest blunders — the Iraq war and Housing Bubble disaster.
The middle class does shoulder responsibility for those blunders. People elected a moron because they don’t bother to learn about the world. They supported Bush after 9/11 because misguided nationalism and revenge are what they cared about.
America will be fine but we just won’t be #1 in everything anymore. We won’t be the richest anymore. That will be a painful adjustment — a little like a well-off family having to move from Fairbanks to Mira Mesa.
It will take some hard work to rebuild the country.
May 6, 2008 at 7:05 AM #199451AnonymousGuestIf we are not #1 someone else will be. Unfortunately, they will undoubtedly NOT be as nice as we are, even if you take the Iraq debacle into consideration. Not all powerful countries (that might have a shot at becoming #1) believe in the concept of human rights on ANY level. Remember how China handles dissent and compare that to the US. We’re not even talking about the same ballgame.
May 6, 2008 at 7:05 AM #199490AnonymousGuestIf we are not #1 someone else will be. Unfortunately, they will undoubtedly NOT be as nice as we are, even if you take the Iraq debacle into consideration. Not all powerful countries (that might have a shot at becoming #1) believe in the concept of human rights on ANY level. Remember how China handles dissent and compare that to the US. We’re not even talking about the same ballgame.
May 6, 2008 at 7:05 AM #199512AnonymousGuestIf we are not #1 someone else will be. Unfortunately, they will undoubtedly NOT be as nice as we are, even if you take the Iraq debacle into consideration. Not all powerful countries (that might have a shot at becoming #1) believe in the concept of human rights on ANY level. Remember how China handles dissent and compare that to the US. We’re not even talking about the same ballgame.
May 6, 2008 at 7:05 AM #199541AnonymousGuestIf we are not #1 someone else will be. Unfortunately, they will undoubtedly NOT be as nice as we are, even if you take the Iraq debacle into consideration. Not all powerful countries (that might have a shot at becoming #1) believe in the concept of human rights on ANY level. Remember how China handles dissent and compare that to the US. We’re not even talking about the same ballgame.
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