sixpackistan

The Origin of Wealth: Differentiate, Select, Amplify. Repeat.

amen. lower manhattan doesn't create, manufacture, design, build or really do anything other than stand in the middle of every transaction in america- just like, say, it's biggest partner and supporter: the federal government. go figure. i wonder who learned from whom?


On Sep 05 03:57 PM Bull Run wrote:

> The origins of America's wealth has been the wealth of it's middle
> class. No other nation in the history of the world had a middle class
> which encompassed such a large percentage of it's population, which
> was as wealthly as America's. Steal workers, Auto workers, Farmers,
> shop keepers, were all part of this enormous population of middle
> class, which owned 2 cars, a home, a summer cottage, and were able
> to send their children to college. This middle class, contributed
> wealth and real production to America, unlike today's Wall Street
> wealth, which has NO GDP, or contribution to production. This was
> the America that the rest of the world envied. America's lifesyles,
> and it was this mass of wealth that America's Middle class had built
> up,that was now coveted, by Wall Street, particularily after the
> mid 70's when America's real growth period was over. Hence the beginning
> of Wall Street scams. (Exotic investment vehicles). 1) S&L government
> backed loans. 2) Junk bond scam 3) The wwwdotcom scam.4) Turning
> the NASDAQ into a venture exchange 5) Stock options instead of dividends
> 6)Wall street's finest hour, the sub prime loan scam. 7) Wall streets
> latest, Life insurance into asset backed bonds scam. America now
> has lost it's middle class. America's homes and jobs that could support
> this lifestyle are all but gone... Where did this wealth all GO??
> Over the last decade, 41% of all domestic profits, have gone to NY
> investment banks, NY brokerage firms, NY banks, NY managed funds.
> This then ends up in less than 2% of America's population, NOT in
> America's middle class, but in a very small tight community of Wall
> Street insiders living in Green. Conn. Is this the capitlism that
> Adam Smith invisioned?? All of America's wealth originated in America's
> middle class, which has now been transfered to Wall Street. History
> will look back on America, and question the moral and ethical transfer
> of wealth, which has brought down the wealthest nation on earth.