Are We Spoiled Rotten American Babies???
Many people around the world are living in poverty simply because they don't have access to capital or can't borrow money.
In America, last year Wall Street and Government borrowed OVER $3 trillion dollars....about $20,000 for every wage earning person in our nation. If you simply gave that money to the top 10% of wage earners, it would be over $200,000 per individual. The strange part is the top 10% of wage earning taxpayers earn only about $170,000 per year.
In America, the primary reason we have an economy right now is we are borrowing trillions of dollars per year and paying ourselves. Unfortunately, Wall Street and Washington now get to dictate who gets paid what by allocating credit to friends and family.....and cutting off those who they want to see go away....which currently happens to be tens of millions of Americans primarily in the private sector.
Very soon, much of America could get cut off of credit because its tax receipts are evaporating. No nation can simply be one of borrowing and spending so its population can consume and live at a standard not justified by its productivity.
It is sorta silly how so many Fools get upset at Alstry's factual blogging, albeit repetitive, when so many of them make their income simply because Wall Street and Washington are siphoning off our retirement accounts until the money runs dry.
Interactive Map of Public Pension Plans; How Badly Underfunded are the Plans in Your State?