Friday, November 12, 2010

Republican plan to bankrupt the middle class now well underway

Welcome to the new economy. If you're wealthy, you'll thrive. If you're middle class, you're screwed.

This is the new Republican economy:

Food prices - through the roof
Energy prices - through the roof
Clothing costs - through the roof
Medical costs - through the roof
State and local taxes - through the roof
College tuition - through the roof
Value of paper assets owned by the wealthy - through the roof
Take home pay of the middle class - stuck in the mud

Thank Republicans. In anticipation of the Republican takeover in Congress, our nation's financial traders knew that fiscal policy would go nowhere. The only avenue left to help our economy would be monetary policy as executed by the Federal Reserve Board. The Fed is flooding the markets with liquidity. Traders anticipating that rush of liquidity are pushing up prices everywhere. The winners are the wealthy. They own the assets.

So, if you're middle class and living hand to mouth, or about the only asset you own is your home, well, you can thank the election of Republicans for your financial pain. And if you're middle class and voted Republican, you have nowhere to look but in the mirror. You are to blame. If you want to complain, find the nearest mirror.

North Carolina deserves better than Republican Senator Richard Burr.

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