Class Divisions Evident
Nothing makes class divisions more evident than economic downturns.
With the current "financial crisis", I see it glaring me in the face daily. I watch the news of the stock market, the capitalist masterminds emergency meetings, and the state bailouts with a sort of disconnect. I am merely an observer as I have minimal amount of money and/or investment in the stock market (only a small no-risk 401k).
However, at work, I am surrounded by MBA-having, real estate investing, Gordon Gecko-loving, upwardly mobile young professionals. It is through them that I watch the situation unfold. I hear how they have all lost 30-40% of their stocks. I hear them yell curses as they check the news or when their financial advisors call them. They are freaking out and depressed.
Of course to me they just lost 40% of fake money that they never actually had. (Is money real if you never spend it?)
It is my firm belief that this crisis hasn't even reached the masses YET. Of course, with any real economic crisis or just with this banking/investment panic, it will be thrust upon the poor immediately. However, materially, this has not affected the working class. Our essentials such as food, gas, or rent are just as high as they were a month ago when this system was supposed to be working fine. Of course, the wealthy are experts at creating a zeitgeist in their favor and all news media point to the stock market as the gauge for all of our finances. (Even though the amount of people who make money on Wall Street is very small... remember Wall Street is not a fuckin bank! It is a money making scheme based on religious-like myths.)
Trickle-down economics only works in one direction.
With the current "financial crisis", I see it glaring me in the face daily. I watch the news of the stock market, the capitalist masterminds emergency meetings, and the state bailouts with a sort of disconnect. I am merely an observer as I have minimal amount of money and/or investment in the stock market (only a small no-risk 401k).
However, at work, I am surrounded by MBA-having, real estate investing, Gordon Gecko-loving, upwardly mobile young professionals. It is through them that I watch the situation unfold. I hear how they have all lost 30-40% of their stocks. I hear them yell curses as they check the news or when their financial advisors call them. They are freaking out and depressed.
Of course to me they just lost 40% of fake money that they never actually had. (Is money real if you never spend it?)
It is my firm belief that this crisis hasn't even reached the masses YET. Of course, with any real economic crisis or just with this banking/investment panic, it will be thrust upon the poor immediately. However, materially, this has not affected the working class. Our essentials such as food, gas, or rent are just as high as they were a month ago when this system was supposed to be working fine. Of course, the wealthy are experts at creating a zeitgeist in their favor and all news media point to the stock market as the gauge for all of our finances. (Even though the amount of people who make money on Wall Street is very small... remember Wall Street is not a fuckin bank! It is a money making scheme based on religious-like myths.)
Trickle-down economics only works in one direction.
posted by shane at 9:11 AM
4 Comments:
I know you don't know me, but I read your blog. I was wondering if I could e-mail you with two questions. You can reach me at
bringyourbrain@gmail.com
Very brilliant with less investment. People longing for more money has to sit with their hands on their heads. But very informative blog. The anonymous could have asked those two questions publicly so that we could have benefited by the way you reply.
Andrew Abraham
MyInvestorsPlace - trading, value, investing, forex, stock, market, technical, analysis, systems
Hahaha, I love the picture of Gecko! "It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another."
and i think you would enjoy some of this
http://krugman.blogs.nytimes.com/?scp=2&sq=paul%20krugman&st=cse
Gas is actually cheaper than it was a month ago. Hooray.
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