I see a lot of articles asking the question why people are not absolutely livid about what is happening to them. The degree at which their wealth is being transferred away from them and the debt being shod on their grandchildren is astonishing. I saw LA burn for a whole lot less after the Rodney King affair and this crisis does not even foment a decent March on Washington like the good old Reagan days.
It would clearly be in the best interest of stock market capitalists to keep the majority of people poor, weak, and disorganized. Below a certain economic threshold, people simply fail to organize – they are too busy trying to feed their families by working harder. This is where they want to keep us…but will it work?
Here is the best distillation of events that I could come up with (Ref: Here):
A. Financial institutions brought us the meltdown by playing games of greed.
B. This led to serious problems and the whole planet suffers.
C. The public bailed them out at great cost.
D. Our government debt is at record levels and our children and grandchildren must pay.
E. The too-big-to-fail crowd continued providing big bonuses to themselves and dividends to their stockholders with our money.
F. Many financial institutions are returning to profitability despite record numbers of Americans losing their homes.
G. Profits come from securitized mortgage portfolios which they sell off to investors.
H. Yet they remained the servicer on the loans, extracting fees for collecting payments and foreclosing on homes.
I. Now they make loads of money off of the misery of those facing foreclosure.
J. They purposely avoiding loan modifications because they can make more money through the foreclosure route.
It’s Nothing new:
Guess what, in the middle ages, there were roving bands of looters, disease, oppression of every variety and other calamities. Unlike the Rodney King events, it’s written into our collective DNA to simply endure what we feel we cannot or should not change. Since we all continue to rely on money and currency, perhaps there is a fear that to change it would be to make things worse.
That does not mean that things are hopeless. In fact, this should be a cause of great optimism. people see the system crumbling where it needs to crumble and are willing to wait for the next financial system to arise from the ashes. The dominant strategy is to stay calm and ride it out to a soft landing. Society is smart, nothing good can come from a self-destructive end game.
Meanwhile, we see the new economic paradigm fomenting on the horizon…..read the following series. Preview my book. It’s going to be a wonderful outcome – something that we can all be proud of if we stay cool, calculating, and ready to jump at the new opportunities that will be presented…and they will be presented. Let’s not squander it.