Please don’t let me see any pointy fingers…everyone and no one is the answer. It wasn’t any one individual, any one political party, any one administration, any one change in the law or Fed policy, or any single time period…it wasn’t even Wall Street’s fault…they were just being Wall Street. Our current situation was a death by a thousand cuts over a period of four decades, perpetrated by intelligent, well intended people working with the facts they had available to resolve the issues and problems of the day as best they could…the city council that found it easier to move pension funds into riskier investments to make the budget numbers work instead of dealing with labor entitlements head-on; every congressman who over the years voted to deregulate the constraints on market speculation to get PAC money or forestall an ugly ‘market adjustment’ on their watch…the list of contributors is endless.
However, I offer the following for your consideration. Our two party political system isn’t relevant any more…both parties are controlled by the same Wall Street PAC money and Wall Street also owns the press which keeps public attention focused on all the wrong issues…fighting each other instead of taking the real villains to task…435 congressmen, 100 senators, one President, and nine Supreme Court justices, all dependent on the same Wall Street PAC money to get and keep their jobs…545 human beings out of the 300 million that have turned the world economy into a feeding trough for Wall Street greed. No matter who wins the next election, we’re looking at four more years that will be ever worse than the previous four years, regardless of winning party. When do we all wake up and unite to turn things around and save our way of life?