11-12-2008, 11:42 PM
David Guyatt Wrote:Mark, my view is that the wealthy just got a lot wealthier not poorer. Some of them at least anyway. The rescue package in he US is running $8.5 trillion at last count (that I have seen). That amounts to a transfer of wealth from he many to the few. $8.5 trillion accumulated over ten and more years didn't simply evaporate, I think...
I agree, David. The rescue/bailout packages are merely stealing from the public to give to the wealthy.
I'm referring to the spectacle of global wealth destruction which we are witnessing. Unlike during boom times when massive wealth increases for the wealthy supposedly 'trickles' downwards to the grateful peasants, this time the rich will pass down their newly acquired less wealthy status like a cloudburst, not a trickle.
The rescue packages are just one example.