Wall Street Protests

[tw]

Originally Posted by DanaC

I wish them the best. Because they're doing this for me and us, not just themselves. They are engaged in a worthy struggle. They are exercising agency. Good on them.

For well over a decade, defined was this major problem that has only became worse when Cheney said, "Reagan proved that deficits don't matter." I could not understand why so many did not see what is finally obvious to many. For the last decade, an average American worker has seen his incoming falling. That only happened twice in the history of America. Warnings of this problem, a pending economic calamity, and the history that predicted it were defined even in The Cellar. And still so many remained silent. Even when Enron, LTCM, the California Energy crisis, etc all proved who are some of America’s greatest enemies.

Both times in history, welfare for the rich resulted in America’s worst recessions. In part, because the rich do not create jobs, innovation, new products, new markets, and economic advancement. Only those who aspire to be rich do that. Both times in history, 1% reaped massive wealth while Americans saw their incomes diminish. Finally, some have complained. It was long overdue.

At what point does history prove the obvious. 85% of all problems are directly traceable to top management. Especially those who are paid the most money, bonuses, stock options, and other 'rewards'. Why do more successful companies pay their top people less money? Because the real source of that success reaps increased incomes. Many are finally learning that business school concepts and their student have created massive income disparity and economic stagnation.

Not like this was new to a Cellar dweller. And still some remain in denial by blaming the rest of us.

[Spexxvet]