Mid October State of the US
Economists say american's income won't come back for ten years. On average, incomes have dropped 7% since 2000. Mine has fallen 14%, effectively taking my salary back to 1994. But it's even worse as inflation has eroded 42.67% since 1994. In reality, I'm making about half of what I made back then. With income flat over the next decade and my retirement coming in 273 weeks, I'll never recover.
Even so, I'm lucky. I'm working and was able to acquire enough stuff to live a decent yet modest lifestyle. What about the younger folks, especially my children. Can they ever make enough to have a decent but modest lifestyle?
The media has focused on the hippies, communists and whackos in the Occupy Wall Street protests. But there are serious people with legitimate complaints about the system that seems to cheat working people out of their life's work. This really isn't a Republican/Democrat, capitalist/communist or sane/insane issue. It's a trust and life issue at the core.
Is it fair for people to work for decades to live a modest lifestyle then lose a chunk of it so a few can make fortunes? Should the 1% be able to manipulate everything to ruin the lives of the 99%? That's the real story in the Arab Spring and the OWS protests.
Brian Rogers wrote a fair and balanced piece on the OWS protests that was posted on ZH today. It's well worth the few minutes it takes to read. But then read Spengler's People's Ponzi Scheme to get some perspective. Then consider Soros and Buffett, Bush and Obama, GE and Exxon as well as you and your children. What's fair and who do you trust?
The future belongs to those who evolve and adapt...unless the 1% rig the game.
Even so, I'm lucky. I'm working and was able to acquire enough stuff to live a decent yet modest lifestyle. What about the younger folks, especially my children. Can they ever make enough to have a decent but modest lifestyle?
The media has focused on the hippies, communists and whackos in the Occupy Wall Street protests. But there are serious people with legitimate complaints about the system that seems to cheat working people out of their life's work. This really isn't a Republican/Democrat, capitalist/communist or sane/insane issue. It's a trust and life issue at the core.
Is it fair for people to work for decades to live a modest lifestyle then lose a chunk of it so a few can make fortunes? Should the 1% be able to manipulate everything to ruin the lives of the 99%? That's the real story in the Arab Spring and the OWS protests.
Brian Rogers wrote a fair and balanced piece on the OWS protests that was posted on ZH today. It's well worth the few minutes it takes to read. But then read Spengler's People's Ponzi Scheme to get some perspective. Then consider Soros and Buffett, Bush and Obama, GE and Exxon as well as you and your children. What's fair and who do you trust?
The future belongs to those who evolve and adapt...unless the 1% rig the game.
posted by lugh lampfhota at 11:02 PM
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