The Winners and Losers of Wall Street's Turmoil
Last topic I said was the most important news piece of this year. And it was, it showed that rhetoric, angry words, and demagoguery, all had influence over the people and their decisions. It showed that both parties could be victimized by the angry words of radio jockeys. That progress can be hindered.
This news piece is the biggest in the last century.
It seems America is the greatest ocean liner in the world, on course to a range of icebergs. The Leviathan that is America has at its upper reaches, the spires of global power and wealth, its lower levels, holds those that work to their deaths to see that it had continue full-steam ahead. The course was decided on a bipartisan level, both parties took turns to steer it into the black, motivated by the promise of further longevity of the planetary hegemony they held.
And the first hull has been breached by just a tip of an iceberg. The people who were supposed to look out for America, have either been caught unawares, or simply did not care. They have not alerted the public, the people, or answered to any questions put forward. Instead, or rather, they have beaten the women and children in reaching the life boats, in fact, they didn't tell anyone. And they've taken the chandeliers too.
The brains and the eyes of this Titanic have abandoned America, and left with vast amounts of money it would make those in the lower levels die of simple exasperation if such an amount were to show up in their own bank accounts one Sunday morning. But no, as prices soar, wages stagnate, and the working class suffer. The middle class suffers, and they look disaparagingly between their bills and their bank accoutns.
But the banks don't have their money. Everything is interconnected, and it is all falling down. Like a web being dragged down by a bird too heavy for it to hold, whether it came out of nowhere, whether it was seen in distance or not, it is too late. And the spiders who tended this web have taken off with the flies, nicely bundled and ready to go at first notice of it all coming apart.
Everyone is going to pay. That is the discussion of this week's Bill Moyers, and required viewing for anyone interested in what exactly will affect them in the years to come.
http://www.pbs.org/moyers/journal/09.../profile2.html
The next interview is with Kevin Phillips, former Republican strategist. You may remember his book about American dynasty... saying the way the 2000 election was won seemed more out of a CIA manual than the Constitution.
Ahead of his times consistently, he blasts the handling of the finances in the last 25 years. He spares no party.
http://www.pbs.org/moyers/journal/09192008/watch2.html
In a quote that says it all of America's current predicament, we move on to the next bit:
BILL MOYERS: But there are people, Kevin, who disagree with us, who say that this financial industry has created great wealth for America in the last 25 years.
KEVIN PHILLIPS: Oh, it's created great wealth for a small slice of America. But if you go back and we remember the manufacturing heyday, the auto workers in Michigan had fishing cabins up on the lake. And the middle class had been fattened by the rise of the blue-collar middle class. Well, there's no rising blue-collar middle class now. The middle class is shrinking.
The pie in a financial economy goes to the one or two percent — or even less- that have capital skills and education. We have never had so much polarization and wealth disparity and just groaning wealth right at the top of ladder as we have now under finance.
http://www.pbs.org/moyers/journal/09192008/watch3.html
In contradiction to earlier, not everyone will pay equally. Watch, and despair. This is the aggregate of unbridled, unwatched capitalism, in a land of media and governmental abuse. In this land, the minnows fry, and the sharks continue to lurk.
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