Economic Meltdown

The financial crash has now spread throughout the economy. I remember trying to tell a waitress in Oregon is late September that the Wall Street mess would likely come to hurt her. She refused to believe me. She was part of that great mass of right wing conservative poor who believed all the propaganda that the elite, well-financed right wing think tanks had been dumping on Americans for the last 40 years.

Well... the financial mess has tanked the economy. Here is a graph from Barry Ritholtz's website that shows -- in inflation adjusted dollars -- just how bad this crisis has been on American companies:


Not only are the middle and lower classes paying for bailouts of the speculators on Wall Street, the ordinary folks are having to take on a trillion dollar debt to allow the government to try and stimulate the economy to a rebirth.

This is a tragedy almost beyond comprehension. And the innocents will pay to clear up the mess. Just like in war, the big wigs declare the war and it is the blood of the innocents that is used to pay for the histrionics, greed, and delusions of the elite that led them into war. That is history. It is written again and again with this theme of the poor and the middle class paying the real price to save the rich from their follies. Sad.