Eureka! For years I was angry with BUFFETT, but it turns out he, too, was ignorant of the depth of the 2008 Financial Crisis. NY Times Columnist, Neil Irwin recently debated himself as he analyzed the economy. He asked, ” is the economy really in bad shape?” He argues the pros and cons, while not wanting to face the facts: Our economy is in “bad shape” .
Look at our soaring stock market in spite of falsification of Corporate Assets? Read Gretchen Morgenson’s report on Valeant’s manipulation of the numbers, she calls their balance sheet ” fantasy numbers” and they’re not alone. 344/500 Fortune 500 Corporations use non accounting methods to derive and justify heir corporate earnings.
- Add to this mix, years of slow growth and GDP numbers that do do reflect the dismal plight of the folks on Main Street , then you’ll understand that this economy is not working for the “middle Class”.
BUFFETT cited the facts, 500 000 new families are created in a year. His thought, they would use up 1.5 million surplus homes in 3 years. That scenario never Played out. Equity owns the homes. The house holds are being created, but none of the 3.5 million folks living on the edge of Poverty, can afford to either purchase or rent new homes. They just don’t have the money. They are not making sufficient income to become upwardly mobile.
So ask yourself, is AMERICA experiencing a healthy economy or not. The answer is sooner or later we will pay the piper for not adding accountable stimulus into the economy. Being led by large corporations is killing us in more ways then I can count. But I’ll list some of them anyway:
- Big Pharma: un regulated may manufacture drugs hazardous for your health
- Big oil, gas and coal created a generation of climate deniers so they could sell their fuel . Why develop cleaner, safer , technology which would require R&D capital and make work for the Middle Class when your investors and management can make a killing? We’re not even discussing asthma and emphysema or radon.
- Our fast food industry is creating a generation of obese, pre diabetic and diabetic kids and adults. People are starved for good food and nutrients in many parts of our “rich” nation. Fast food provides calories, sugar and starch. Eat at your peril. At least 20% of the folks attending EPCOT in Orlando were morbidly obese.
- Can we unite to break the Corporations yoke? The 85% who remain silent, will you make a choice? Join us and be involved. Together let’s write a better story for the Middle Class!?
“the heart and pulse of the Middle Class”