Wall Street Lies, Main Street Dies, Washington Yawns
century 21
06.06.2010

Wall Street was reeling in the aftermath of that fateful day in September of 2001 and all of America joined together and lent support of every kind, to help with the financial and psychological recovery. What did the Wall Street wizards do to repay the kindness of their fellow citizens? They created financial products that have destroyed many families and businesses, and put America at great risk. They did this by grabbing almost every person they could find and putting pens in their hands. They then convinced people to buy houses and real estate at prices they would normally never have considered paying. Why not? Because common sense told them they couldn’t afford them.

But the Wall Street snake-oil salesmen convinced them that “new rules” of the 21st century made common sense obsolete. The Street’s new 21st century rules were also “Amended” by the “Maestro”, Fed Chairman Alan Greenspan and Congress. Wall Street then took the mortgages and by a process called “financial re-engineering”, turned the mortgages and other loans into financial time bombs. When they went off, they caused more destruction in every corner of America than the most determined terrorist group could ever hope to accomplish. In some places entire subdivisions went vacant as foreclosures swept through them.

At the same time, Wall Street continued encouraging companies to lower cost by sending American jobs overseas so they could make Wall Street’s “numbers.” Why could they not see the ultimate results of these practices? Guess you need an Ivy League MBA to answer that question. What does a hardworking, tax paying member of the “mere citizen” class know, compared to the financial gods of Mt.Wall Street. Or more likely, they just do not care what happens to us.

Now here we are, the “green shoots” are brown, foreclosures at Depression-era levels, companies having laid off employees by the thousands and bank failures a norm. Families are under severe stress from job losses and debt encouraged by the money merchants. Companies considered rock solid are no longer in existence and politicians that looked the other way became wealthy while the riches of the false prosperity flowed their way.

But don’t fear, every politician keeps reminding us of that great American spirit that has seen us through so much. Yes it has, but after September 2001, hurricanes Katrina and Ike, foreign wars, deadly tornadoes and floods, and now people losing houses, pensions and jobs, the American spirit has been severely damaged. To add further to the loss of hope, like the moment in the Wizard of Oz, when the curtain is pulled back to reveal just an ordinary man using gimmickry to appear larger than life, the curtain has been pulled back on our political and corporate elites. What is revealed is a group of mostly greedy, egotistical people who’s every decision and action seems first and foremost to enrich themselves and boost their egos. While we, the “masses” get the crumbs.

The travesty of it all, the financial problems and the human tragedies they have spawned, were man-made, born in the USA by the rich, greedy, “I know what is best for you” Wall Street crowd. This never had to be. To see how “repentant” the Wall Street financial world is, just watch financial television during market hours. Listen to the giddiness as they applaud another company taking the ‘bold’ step of announcing more layoffs. Reminding us high unemployment keeps wages down, which keeps prices low, making Wall Street’s money go even farther.

Recently we got a lesson on what passes for ‘economic’ wisdom in Washington and on Wall Street. When the unemployment rate rose from 9.7% to 9.9%, we were told that is a good thing and a sign of economic recovery. Well gee, wait until it hit’s 13%, then we can pop the cork and let the champagne flow.

This economy has been really tough on many of you. The green shoots are withering and the double dip is still just picking up steam as our dreams of those once “secure” jobs evaporate before our eyes. If you would like to break free from the insecurity of relying on a job, that may or may not be around next week, here is a simple home based business involving Gold and Silver that may just be your answer