Wednesday, September 5, 2012

Blast from the past - Worthless politicians

Originally from June 26, 2011:

In-between an enjoyable time spent with my daughter this weekend working on myriad projects in my yard, I had my normal weekend reading routine. I need to stop reading. The articles are getting significantly more depressing by the hour.

The world's wealthiest (defined by those with at least $1 M in liquid investments, not including RE) are now richer than they were before the crises. This is extremely upsetting to me. So many Americans are suffering financially as a result of home values plunging. And a very significant number can not find employment. Yet, the rich grow richer.

I am fortunate and count my blessings every day. I am among those who have benefited greatly from this financial turmoil. Like everyone else, my real estate prices are lower. But my equity investments far more than made up for losses in Real Estate. My net worth is significantly higher than in 2007, 2008. But, its not right. Its not fair. Most Americans are getting the shaft. And our political leaders are largely too blame - especially Republicans.

Think about this - long and hard. In an environment where the vast majority of Americans are suffering financially, the rich grow richer. Given this inequity, how can we morally support a political party who proposes a budget that cuts $4 Trillion from programs aimed at middle class America, and gives an additional $1 Trillion in income tax cuts to the wealthiest Americans? How? Are you really that heartless? This is what Paul Ryan's (Republican Congressman) proposal does. This is the budget plan Republicans support. How can you then support Republicans? If you are among the very wealthy, yeah, maybe you're a loyal Republican supporter. But ignorance can only explain why a middle class American votes Republican right now. I simply can not support a Republican Party that continues to kick middle class America in the teeth, while rewarding the wealthiest. It is NOT morally right.

I suspect most Americans as just plain ignorant to this unfairness. Many likely have a niche interest that attracts them to the Republican party. They like Republicans because of the abortion issue. Republicans make them feel comfort in their ability to own guns. They like Republicans because they are old, white men who look good in business suits. What ever reason it is, its minor to the most important issue facing our nation right now. That issue is how Republicans are shifting the wealth in our nation. The rich grow richer. The middle class get the boot in the mouth. And most Americans are ignorant to just how rapidly this is happening.

There are other articles bothering me. China appears ready to blow up economically. That will take the world economy down too. The situation in Europe is significantly worse than in America. Europe's problems will hit the fan long before America's, and it will cause significant financial difficulties for the entire world. And an article that I can not share because it is paid research, spells out how US banks may wind up losing up to $100 Billion when they have to pay on the CDS insurance of Greek Debt. When Ireland, Portugal or Spain default, it has the potential to wipe out our banks, right along with the European Banks. We're headed into another economic storm. This one will make 2008 look like a rain shower.

We have a mess on our hands. Our mess is a direct result of the extremely poor economic planning done by our country in the last decade. And it wasn't Democrats and Obama who were in control. It was Republicans. They controlled the White House. They controlled Congress. And if they had done a decent job back then, we wouldn't be in this hot water now. Republicans are too blame for this mess. North Carolina Republican Senator Richard Burr is to blame for this mess.

North Carolina deserves better than Republican Senator Richard Burr.

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