Saturday, August 21, 2010

The Sound of Two Bubbles Bursting

Here's a nice graph that shows how the bubble bursting in 2000 and the housing bubble/financial crash of 2008 have affected the average American's wealth. Up... then down... Boom... then bust...

Click to Enlarge

I would think most Americans would prefer government and business institutions that are more solid and predictable. Enough with goosing the ultra-rich with tax breaks and business with special exemptions (deregulation) on the hope that some crumbs will fall off the table to let the "little people" feed. People want to stop the mad dreaming and feeding the frenzy of greed. They want responsible institutions that will allow honest work to earn an honest wage and to bring some certainty back into the lives of ordinary people.

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