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Thursday, May 19, 2011

Dubya's prophecy

While researching an upcoming video project, I came across an interesting clip. This is George W. Bush in 2008, telling the nation why TARP needs to be passed.
What if Bush and Obama bit the hand that got them into the White House and slapped cuffs and new regulations on Wall Street?

The Senate caved into big oil's lobbyists and failed to remove their tax breaks.

The sad part is if the sick and the poor each kicked in a dollar to buy a legislator they would still be outbid by corporate america.
some times I wonder if by some miracle the poor and the sick come next election just woke up from their stupper and decieded we are not taking it any more and went against the system. All of them, except may be for a million or 2 representing those who are benefiting from it and their famillies. what recourse are going to take in response to that. can you imagine the marshall laws and the national gaurds on streets and the shit hit the roof.
Its not 2mn, Top 1% has a household income of 1.4mn. Total employed is probably about 139mn. So 1% of them is probably 1.4mn. However their families benefit too. So I would guess about 4 mn people on average have benefited in the US. Of course this system has also benefitted the emerging middle classes of India and China. We should take them into account.

What amazes me is that very few people understand what has happened. So there is very little resistance or complaint. However in the near future I can see a serious problem of mis-diagnosis. The poor will be increasing black and brown. The rich will be increasingly old and white.

I wonder when it will become too dangerous for old white people to walk the streets?

TARP was renamed to the Bankers Asset Relief Fund.
Doncha know?
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