Sep 30, 2008

World - US;Who can lead us out of this mess ?

By David Von Drehle
They are different in so many ways: one Republican, one Democrat; one in his 70s, one in his 40s; one white, one black. But John McCain and Barack Obama share the genome of the alpha pol. Timing and instinct are among the dominant traits. How else to explain the fact that both men chose precisely the same day — nearly the same hour — to field press questions for the first time about the collapsing financial sector and the government's proposed $700 billion bailout? Like the cicada crawling up from the earth precisely 17 years after its mom lays her eggs, or the monarch butterfly fluttering a thousand miles to a particular spot, they were driven by something wired, not taught. And even more uncanny: they chose almost exactly the same words.
Here was Obama: "It is wholly unreasonable to expect that American taxpayers would or should hand this Administration or any Administration a $700 billion blank check with absolutely no oversight or conditions when a lack of oversight in Washington and on Wall Street is exactly what got us into this mess."
Here was McCain: "Never before in the history of our nation has so much power and money been concentrated in the hands of one person ... We won't solve a problem caused by poor oversight with a plan that has no oversight."
More McCain: "There must be a path for taxpayers to recover the money that is put into this fund."
More Obama: "If taxpayers are being asked to underwrite hundreds of billions of dollars to solve this crisis, they must be treated like investors. The American people should share in the upside as Wall Street recovers."
McBama: "This plan cannot be a welfare program for Wall Street executives."
O'Cain: "No Wall Street executives should profit from taxpayer dollars. It is wrong to ask teachers and farmers and small-business owners to fill the gas tanks of the helicopters of Wall Street tycoons."
Is this what they mean by putting an end to partisan bickering? Reaching across the aisle to share focus groups? The lifeblood of the world's largest economy was clotting, but the men who would be President answered with shared simplifications: muttered prayers to the god of oversight, an idle hope that taxpayers might awaken one day to a windfall, and the timeless amusement of humble millionaires bashing arrogant millionaires on behalf of folks who may never breathe debt-free.
So the first thing the crisis revealed about the would-be Presidents is that they are Senators not just in name but also by disposition. Americans were angry and confused about the crisis on Wall Street. The moment seemed to cry out for someone to make sense of it all. Instead McCain and Obama explained how they would amend a draft of the bailout legislation. Then they got up the next morning and tried to negotiate a joint statement urging patriotic calm.
And being Senators in today's Washington, both took the stage while shadowed by dubious supporters. Obama has ties to the men who pocketed fortunes while running Fannie Mae off a cliff. McCain's campaign manager was a high-priced adviser to, among others, the equally screwed-up Freddie Mac.
One of these two Senators is about to be thrust into the White House, however, where the gravest financial crisis since the Great Depression will shape his agenda and probably narrow his options for years to come. Beneath the armor of two politicians in crisis mode, there were signs of the kind of President each would be.
Who Speaks for Thrift?
Obama went first, repeating words that have become a sort of mantra for him as he surveys the economy: "It's not the time for fear or panic." Image is a very real part of the presidency, and it seems safe to say now, nearly two years into this campaign, that President Obama would do well should times call for unruffled calm. He wore a gray suit that fit like a mother's caress, nary a wrinkle or bead of sweat visible, and spoke in the same laconic tone you might use to discuss the weather with a co-worker while sorting your e-mail at the same time. He met the press in Clearwater, Fla., the western end of a wide belt of suburbs along Interstate 4 that usually decides who wins the state's 27 electoral votes. A regional poll out that morning showed him surging, and not even a bank panic was going to make him lose his cool.
Another part of the job is choosing advisers, and in preparing for this moment, Obama consulted a glittering cast, including former Federal Reserve Chairman Paul Volcker — the man who whipped inflation — and former Treasury Secretary Robert Rubin, who briefly erased the deficit. Yet another role of the President is to set priorities. That's where Obama stumbled.
Asked what impact this trillion-dollar crisis might have on his expansive and expensive array of policy proposals, Obama essentially answered, Maybe none. That's defensible in theory, because each of Obama's big ideas could be, in the long run, good for the U.S. economy. Overhauling the energy sector by selling credits to emit carbon could ignite a big new industry around alternative fuels. Reforming the inefficient health-care system could rein in the cost of insurance and allow employers to put more money into wages rather than into benefits. Drastically improving education ought to lead to a more skilled workforce that produces more valuable goods and services.
But all these reforms would involve massive up-front costs, and the current crisis seems to mean that there will be less money available for the next President to invest. If you say, "Well, let's borrow some," you run into the very problem that underlies the financial meltdown in the first place. At every level of American life — from the struggling homeowner who can't afford his mortgage to the failing investment banks that can't meet their collateral requirements to the Federal Government, which can't prop up the drooping dollar — the bottom line is that we've borrowed too much money. We're all over-leveraged.
Obama has said little about how he would tackle that fundamental issue as President. Indeed, his short-term proposals — a second round of stimulus checks, for example, and some of his refundable tax credits for working families — could have the opposite effect, spurring more consumer spending. That might make voters happy and briefly goose the economy, but it won't persuade America to stop living beyond its means.
As far back as the penny-saving Ben Franklin and the conquistadores chasing their dreams of golden cities, this has been a country of mixed minds about how to get rich. We extol the conservative Warren Buffett model: selling 4 cent Cokes for a nickel and conscientiously saving the proceeds, investing in quality goods and well-run enterprises and shunning a penthouse on Central Park when a five-bedroom home in Omaha, Neb., will do. At the same time, we're always on the lookout for the next gold rush, the next Powerball, the next bubble. The fact that Wall Street banks were recently borrowing 30 or 40 times their available capital to place bets that home buyers would pay off mortgages 10 times the size of their annual paychecks suggests that America's cultural pendulum has swung too far in the direction of the casino. And Obama hasn't yet shown he's the man to put us back in touch with our thrifty side.
Who Has the Courage to Cut?
McCain strode to the microphones a short time later in Freeland, Mich., a little town near the spot where the thumb of the Michigan mitten meets the palm. The state's economy is the weakest in the country, and McCain was there to visit one of the few bright spots, a Dow Corning plant devoted to solar-power technology.
Dressed in tan trousers, a blue blazer and a striped tie — the unofficial uniform of the small-town Chamber of Commerce — McCain cut quite a different figure from his opponent. He radiated toughness with an overlay of irritation. He tried to warn us two years ago that Fannie Mae and Freddie Mac were screwed up, he began, but did America listen? Now look at the trouble we're in
People like a President who seems to share their passions, tastes and grievances, so McCain probably struck a chord with his obvious loathing of the "Wall Street tycoons" and backroom Washington dealmakers he holds responsible for this mess. It's his nature to see problems in terms of personal culpability; while other leaders were debating the best way to set a price for distressed debt, McCain was calling for the head of Christopher Cox, chairman of the Securities and Exchange Commission. Both Obama and McCain maintained that greed is the root cause of our troubles, but in Obama's mouth it sounded like a diagnosis, whereas from McCain the word landed like an indictment.
McCain's advisers, like former Treasury Secretary Nicholas Brady, have helped him identify a tax proposal that speaks to the underlying cause of the meltdown. Compared with most other developed countries, the U.S. has relatively high taxes on corporations that produce goods and services and relatively low taxes on consumption. "For example," McCain observed, "Ireland now has an 11% business tax. The United States of America has a 35% business tax. Where are businesses going to go?"
McCain's solution is pretty basic: Cut the corporate tax. The trouble is that his corporate tax cut isn't part of a larger overhaul of the tax code that would reward savings and investment while curbing deficit spending — whether by individuals, private institutions or the government. The cut is only one among many in a budget that is wildly out of balance. How would President McCain convince people that they can't have a bigger flat-screen than they can afford while he's running a government that promises more services than it has money for? Neither McCain nor Obama has put forth any concrete plan for deficit reduction. If, as the latest polls suggest, McCain is seen as less credible on the economy than Obama is — and losing ground as a result — the reason is probably that his evasion of reality feels staler than his opponent's. A Republican offering specific tax cuts but only vague pledges to reduce spending is old hat for today's voters. Although Sarah Palin helped McCain reclaim his maverick mantle for a few weeks, this meltdown has once again marked him with the Bush brand.
Where Do They Stand?
A year ago, most people thought this would be an election dominated by foreign policy. More recently, it looked like an election about gas prices. The candidates are still adjusting to a campaign about collateralized debt obligations.
Obama and McCain have been cautious in adapting their messages to the new reality because no one is sure what the new reality actually means. But they may be reluctant to show their hands in an economy that can turn from forgiving to punishing overnight. On balance, McCain would be a lower-tax, lower-spending President who would agree to stiff regulation when necessary. Obama would be quicker to spend, quicker to regulate but also probably faster to react to economic weakness at home. The choice might be as much about reflexes as about ideology.
Clearly, the meltdown poses a problem for the next President. But is it the problem — a force so fundamental that it flattens everything in its path? Are the agendas and ambitions, the pet policies and platforms of Senator Maverick and Senator Change about to be squashed under the weight of a long, deep recession?
Neither of these men is an economist, and after eight years of an MBA President, America will forgive them for that. What we seek is a leader who can size up a problem, explain it in a way that seems both true and hopeful and match the nation's priorities to its needs. Here's the crisis — which man is up to it? They have a month left to give us their answers.
— With reporting by Jay Newton-Small and Michael Scherer / Washington

1 comment:

Anonymous said...

Don’t believe one optimistic word from any public figure about the economy or humanity in general. They are all part of the problem. Its like a game of Monopoly. In America, the richest 1% now hold ALMOST 1/2 OF ALL UNITED STATES WEALTH. Unlike ‘lesser’ estimates, this includes all stocks, bonds, cash, offshore accounts, and material assets held by America’s richest 1%. Even that filthy pig Oprah acknowledged that it was at about 50% in 2006. Naturally, she put her own ‘humanitarian’ spin on it. Calling attention to her own ‘good will’. WHAT A DISGUSTING HYPOCRITE SLOB. THE RICHEST ONE PERCENT HAVE LITERALLY MADE WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. Don’t fall for any of their ‘humanitarian’ CRAP. ITS A SHAM. THESE PEOPLE ARE CAUSING THE SAME PROBLEMS THEY PRETEND TO CARE ABOUT. Ask any professor of economics. Money does not grow on trees. The government can’t just print up more on a whim. At any given time, there is a relative limit to the wealth within ANY economy of ANY size. So when too much wealth accumulates at the top, the middle class slip further into debt and the lower class further into poverty. A similar rule applies worldwide. The world’s richest 1% now own over 40% of ALL WORLD WEALTH. This is EVEN AFTER you account for all of this ‘good will’ ‘humanitarian’ BS from celebrities and executives. ITS A SHAM. As they get richer and richer, less wealth is left circulating beneath them. This is the single greatest underlying cause for the current US recession. The middle class can no longer afford to sustain their share of the economy. Their wealth has been gradually transfered to the richest 1%. One way or another, we suffer because of their incredible greed. We are talking about TRILLIONS of dollars which have been transfered FROM US TO THEM. All over a period of about 27 years. Thats Reaganomics for you. The wealth does not ‘trickle down’ as we were told it would. It just accumulates at the top. Shrinking the middle class and expanding the lower class. Causing a domino effect of socio-economic problems. But the rich will never stop. They just keep getting richer. Leaving even less of the pie for the other 99% of us to share. At the same time, they throw back a few tax deductible crumbs and call themselves ‘humanitarians’. Cashing in on the PR and getting even richer the following year. IT CAN’T WORK THIS WAY. Their bogus efforts to make the world a better place can not possibly succeed. Any 'humanitarian' progress made in one area will be lost in another. EVERY SINGLE TIME. IT ABSOLUTELY CAN NOT WORK THIS WAY. This is going to end just like a game of Monopoly. The current US recession will drag on for years and lead into the worst US depression of all time. The richest 1% will live like royalty while the rest of us fight over jobs, food, and gasoline. So don’t fall for any of this PR CRAP from Hollywood, Pro Sports, and Wall Street PIGS. ITS A SHAM. Remember: They are filthy rich EVEN AFTER their tax deductible contributions. Greedy pigs. Now, we are headed for the worst economic and cultural crisis of all time. Crime, poverty, and suicide will skyrocket. SEND A “THANK YOU” NOTE TO YOUR FAVORITE MILLIONAIRE. ITS THEIR FAULT. I’m not discounting other factors like China, sub-prime, or gas prices. But all of those factors combined still pale in comparison to that HUGE transfer of wealth to the rich. Anyway, those other factors are all related and further aggrivated because of GREED. If it weren’t for the OBSCENE distribution of wealth within our country, there never would have been such a market for sub-prime to begin with. IF IT WEREN'T FOR THE OBSCENE, UNREASONABLE, AND UNJUST DISTRIBUTION OF UNITED STATES WEALTH, THERE NEVER WOULD HAVE BEEN SUCH A MARKET FOR SUB-PRIME AND THERE NEVER WOULD HAVE BEEN A COLLAPSE IN THE HOUSING MARKET. Which by the way, was another trick whipped up by greedy bankers and executives. IT MAKES THEM RICHER. The credit industry has been ENDORSED by people like Oprah Winfrey, Ellen DeGenerous, Dr Phil, and many other celebrities. IT MAKES THEM RICHER. In fact, they specifically endorsed Countrywide by name. The same Countrywide widely responsible for predatory adjustable rate sub-prime lending and the subsequent collapse of the housing market. ENDORSED BY OPRAH WINFREY, ELLEN DEGENEROUS, AND DR PHIL. Now, there are commercial ties between nearly every industry and every public figure. IT MAKES THEM RICHER. So don’t fall for their ‘good will’ BS. ITS A LIE. If you fall for it, then you’re a fool. If you see any real difference between the moral character of a celebrity, politician, attorney, or executive, then you’re a fool. No offense fellow citizens. But we have been mislead by nearly every public figure. We still are. Even now, they claim to be 'hurting' right along with the rest of us. As if gas prices actually effect the lifestyle of a millionaire. ITS A LIE. IN 2007, THE RICHEST 1% INCREASED THEIR AVERAGE BOTTOM LINE WEALTH AGAIN. On average, they are now worth over $4,000,000 each. Thats an all time high. As a group, they are now worth well over $17,000,000,000,000. THATS WELL OVER SEVENTEEN TRILLION DOLLARS. Another all time high. Which by the way, is much more than the entire middle and lower classes combined. Also more than enough to pay off our national debt, fund the Iraq war for twenty years, repair our infrastructure, and bail out the US housing market. Still think that our biggest problem is China? Think again. Its the 1% club. That means every big name celebrity, athlete, executive, entrepreneur, developer, banker, and lottery winner. Along with many attorneys, doctors, politicians, and bankers. If they are rich, then they are part of the problem. Their incredible wealth was not 'created', 'generated', grown in their back yard, or printed up on their command. It was transfered FROM US TO THEM. Directly and indirectly. Its become near impossible to spend a dollar without making some greedy pig even richer. Don't be fooled by the occasional loss of a millionaire's fortune. Overall, they just keep getting richer. They absolutely will not stop. Still, they have the nerve to pretend as if they care about ordinary people. ITS A LIE. NOTHING BUT CALCULATED PR CRAP. WAKE UP PEOPLE. THEIR GOAL IS TO WIN THE GAME. The 1% club will always say or do whatever it takes to get as rich as possible. Without the slightest regard for anything or anyone but themselves. Reaganomics. Their idea. Loans from China. Their idea. NAFTA. Their idea. Outsourcing. Their idea. Sub-prime. Their idea. High energy prices. Their idea. Oil 'futures'. Their idea. Obscene health care charges. Their idea. The commercial lobbyist. Their idea. The multi-million dollar lawsuit. Their idea. The multi-million dollar endorsement deal. Their idea. $200 cell phone bills. Their idea. $200 basketball shoes. Their idea. $30 late fees. Their idea. $30 NSF fees. Their idea. $20 DVDs. Their idea. Subliminal advertising. Their idea. Brainwash plots on TV. Their idea. Vioxx, and Celebrex. Their idea. Excessive medical testing. Their idea. The MASSIVE campaign to turn every American into a brainwashed, credit card, pharmaceutical, medical testing, love-sick, celebrity junkie. Their idea. All of the above drive up the cost of living, shrink the middle class, concentrate the world’s wealth and resources, create a dominoe effect of socio-economic problems, and wreak havok on society. All of which have been CREATED AND ENDORSED by celebrities, athletes, executives, entrepreneurs, attorneys, and politicians. IT MAKES THEM RICHER. So don’t fall for any of their ‘good will’ ‘humanitarian’ BS. ITS A SHAM. NOTHING BUT TAX DEDUCTIBLE PR CRAP. In many cases, the 'charitable' contribution is almost entirely offset. Not to mention the opportunity to plug their name, image, product, and 'good will' all at once. IT MAKES THEM RICHER. These filthy pigs even have the nerve to throw a fit and spin up a misleading defense with regard to 'federal tax revenue'. ITS A SHAM. THEY SCREWED UP THE EQUATION TO BEGIN WITH. If the middle and lower classes had a greater share of the pie, they could easily cover a greater share of the federal tax revenue. They are held down in many ways because of greed. Wages remain stagnant for millions because the executives, celebrities, athletes, attorneys, and entrepreneurs, are paid millions. They over-sell, over-charge, under-pay, outsource, cut jobs, and benefits to increase their bottom line. As their profits rise, so do the stock values. Which are owned primarily by the richest 5%. As more United States wealth rises to the top, the middle and lower classes inevitably suffer. This reduces the potential tax reveue drawn from those brackets. At the same time, it wreaks havok on middle and lower class communities and increases the need for financial aid. Not to mention the spike in crime because of it. There is a dominoe effect to consider. IT CAN'T WORK THIS WAY. But our leaders refuse to acknowledge this. Instead they come up with one trick after another to milk the system and screw the majority. These decisions are heavily influensed by the 1% club. Every year, billions of federal tax dollars are diverted behind the scenes back to the rich and their respective industries. Loans from China have been necessary to compensate in part, for the red ink and multi-trillion dollar transfer of wealth to the rich. At the same time, the feds have been pushing more financial burden onto the states who push them lower onto the cities. Again, the hardship is felt more by the majority and less by the 1% club. The rich prefer to live in exclusive areas or upper class communities. They get the best of everything. Reliable city services, new schools, freshly paved roads, upscale parks, ect. The middle and lower class communities get little or nothing without a local tax increase. Which, they usually can't afford. So the red ink flows followed by service cuts and lay-offs. All because of the OBSCENE distribution of bottom line wealth in this country. Anyway, when you account for all federal, state, and local taxes, the middle class actually pay about the same rate as the rich. The devil is in the details. So when people forgive the rich for their incredible greed and then praise them for paying a greater share of the FEDERAL income taxes, its like nails on a chalk board. I can not accept any theory that our economy would suffer in any way with a more reasonable distribution of wealth. Afterall, it was more reasonable 30 years ago. Before Reaganomics came along. Before GREED became such an epidemic. Before we had an army of over-paid executives, bankers, celebrities, athletes, attorneys, doctors, investors, entrepreneurs, developers, and sold-out politicians to kiss their asses. As a nation, we were in much better shape. Strong middle class, free and clear assets, lower crime rate, more widespread prosperity, stable job market, lower deficit, ect. Our economy as a whole was much more stable and prosperous for the majority. WITHOUT LOANS FROM CHINA. Now, we have a more obscene distribution of bottom line wealth than ever before. We have a sold-out government, crumbling infrastructure, energy crisis, home forclosure epidemic, credit crunch, weak US dollar, 13 figure national deficit, and 12 figure annual shortfall. The cost of living is higher than ever before. Most people can't even afford basic health care. ALL BECAUSE OF GREED. I really don't blame the 2nd -5th percentiles in general. No economy could ever function without some reasonable scale of personal wealth and income. But it can't be allowed to run wild like a mad dog. ALBERT EINSTEIN TRIED TO MAKE PEOPLE UNDERSTAND. UNBRIDLED CAPITALISM ABSOLUTELY CAN NOT WORK. TOP HEAVY ECONOMIES ALWAYS COLLAPSE. Bottom line: The richest 1% will soon tank the largest economy in the world. It will be like nothing we’ve ever seen before. The American dream will be shattered. and thats just the beginning. Greed will eventually tank every major economy in the world. Causing millions to suffer and die. Oprah, Angelina, Brad, Bono, and Bill are not part of the solution. They are part of the problem. THERE IS NO SUCH THING AS A MULTI-MILLIONAIRE HUMANITARIAN. EXTREME WEALTH MAKES WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. WITHOUT WORLD PROSPERITY, THERE WILL NEVER BE WORLD PEACE OR ANYTHING EVEN CLOSE. GREED KILLS. IT WILL BE OUR DOWNFALL. Of course, the rich will throw a fit and call me a madman.. Of course, they will jump to small minded conclusions about 'jealousy', 'envy', or 'socialism'. Of course, their ignorant fans will do the same. You have to expect that. But I speak the truth. If you don’t believe me, then copy this entry and run it by any professor of economics or socio-economics. Then tell a friend. Call the local radio station. Re-post this entry or put it in your own words. Be one of the first to predict the worst economic and cultural crisis of all time and explain its cause. WE ARE IN BIG TROUBLE.


So what can we do about it? Well, not much. Unfortunately, we are stuck on a runaway train. The problem has gone unchecked for too many years. The US/global depression is comming thanks to the 1% club. It would take a massive effort by the vast majority to prevent it. Along with a voluntary sacrifice by the rich. THATS NOT GOING TO HAPPEN. But if you believe in miracles, then spend your money as wisely as possible. Especially in middle and lower class communities. Check the Fortune 500 list and limit your support of high profit/low labor industries (Hollywood, pro sports, energy, credit, pharmaceutical, cable, satelite, internet advertising, cell phone, high fashion, jewelry, ect.). Cancel all but one credit card for emergencies only. If you need a cell phone, then do your homework and find the best deal on a local pre-pay. If you want home internet access, then use the least expensive provider, and share accounts whenever possible. If you need to search, then use the less popular search engines. They usually produce the same results anyway. Don't click on any internet ad. If you need the product or service, then look up the phone number or address and contact that business directly. Don't pay to see any blockbuster movie. Instead, wait a few months and rent the DVD from a local store or buy it USED. If you want to see a big name game or event, then watch it in a local bar, club, or at home on network TV. Don't buy any high end official merchendise and don't support the high end sponsors. If its endorsed by a big name celebrity, then don't buy it. If you can afford a new car, then make an exception for GM, Ford, and Dodge. If they don't increase their market share soon, then a lot more people are going to get screwed out of their pensions and/or benefits. Of course, you must know by now to avoid those big trucks and SUVs unless you truly need one for its intended purpose. Don't be ashamed to buy a foreign car if you prefer it. Afterall, those with the most fuel efficient vehicles consume a lot less foreign oil. Which accounts for a pretty big chunk of our trade deficit. Anyway, the global economy is worth supporting to some extent. Its the obscene profit margins, trade deficits, and BS from OPEC that get us into trouble. Otherwise, the global economy would be a good thing for everyone. Just keep in mind that the big 3 are struggling and they do produce a few smaller reliable cars. Don't frequent any high end department store or any business in a newly developed upper class community. By doing so, you make developers richer and draw support away from industrial areas and away from the middle class communities. Instead, support the local retailer and the less popular shopping centers. Especially in lower or middle class communities. If you can afford to buy a home, then do so. But go smaller and less expensive. Don't get yourself in too deep and don't buy into the newly developed condos or gated communities. Instead, find a modest home in a building or neighborhood at least 20 years old. If you live in one of the poorer states, then try to support its economy first and foremost. Be on the lookout for commercial brainwash plots on TV. They are written into nearly every scene of nearly every show. Most cater to network sponsors and parent companies. Especially commercial health care. Big business is fine on occasion depending on the profit margins and profit sharing. Do your homework. If you want to support any legitimate charity, then do so directly. Never support any celebrity foundation. They spend most of their funding on PR campaigns, travel, and high end accomodations for themselves. Instead, go to Charitywatch.org and look up a top rated charity to support your favorite cause. In general, support the little guy as much as possible and the big guy as little as possible. Do your part to reverse the transfer of wealth away from the rich and back to the middle and lower classes. Unfortunately, there is no perfect answer. Jobs will be lost either way. Innocent children will starve and die either way. But we need to support the largest group of workers with the most reasonable profit margins. We also need to support LEGITIMATE charities (Check that list at Charitywatch.org). This is our only chance to limit the severity and/or duration of the comming US/global depression. In the meantime, don't listen to Bernanke, Paulson, Bartiromo, Orman, Dobbs, Kramer, OReiley, or any other public figure with regard to the economy. They are all plenty smart but I swear to you that they will lie right through their rotten teeth. IT MAKES THEM RICHER. These people work for big business. The 'experts' they cite also work for big business. They are all motivated by their desire to accumulate more wealth. THEY WILL LIE RIGHT THROUGH THEIR ROTTEN TEETH. So don't fall for their tricks. Instead, look at the big picture. The economic problems we face have been mounting for well over 20 years. All of them caused or aggrivated by a constant transfer of wealth from poorer to richer. Soon, it will cause the first ever GLOBAL DEPRESION. Its not brain surgery. Its simple math. Like I said, you are welcome to run this by any professor of economics or socio-economics. If thats not good enough, then look up what Einstein had to say about greed, extreme wealth, and its horrible concequences. I speak the truth. GREED KILLS. IT WILL BE OUR DOWNFALL.

Its already underway. A massive campaign to divert our attention. Trump, Buffet, OReiley, Pickens, Norris, and several other well known public figures have been running their mouths about the economy. Finally admitting a hint of severity after almost 2 years of denial. They even have the nerve to acknowledge the possibility of a US/global depression. Still, they refuse to acknowledge the single greatest underlying cause. GREED KILLS. IT WILL BE OUR DOWNFALL.

A word for those who respond with the usual 'I know more than you. Look how smart, knowledgable, and articulate I am' crap. Let me say this in advance. I don't claim to be an expert in this field. But I did go on record with these predictions long before any public figure uttered the word 'recession'. If you search long enough, you will find my early postings from '05' and '06'. Including the first draft of this rant. Since then, I've gone on record against people like Greenspan, Bernanke, and Paulson. So far, my predictions have been accurate. Like I said. This is not brain surgery. For the mostpart, its simple math. When you concentrate the world's wealth, you also concentrate its capital and shrink the middle class along with the potential market for every major industry. Homes go unsold. Bills go unpaid. Banks fail. More products go unsold. Jobs are lost. More banks fail. and so on. and so on. It happened 80 years ago. It will happen again. This time on a global scale. Throughout the cycle, the rich will tighten their grip. Concentrating the world's wealth and resources even further and ensuring the collapse of every major economy worldwide. Think it can't happen? Think again. GREED KILLS. IT WILL BE OUR DOWNFALL.

Another thing. I don't want credit for any of this. Otherwise, I would have given my full name a long time ago. As far as I'm concerned, you can put this rant in your own words and take credit for all of it. I don't care. Just spread the word. Otherwise, the greatest injustice of all time will go down in history unchecked.