The economy appears to be tanking again. The reason is simple. Rich people (the top 1 percent) receive nearly 24 percent of the total national income, up from less than 9 percent in 1979. And they're getting more and more.
Rich people don't purchase the things that keep the economy moving. The bottom 99 percent of the population do this. When you take their share of the national income from 91 percent to 76 percent the result is they have less money to buy stuff to keep the economy going.
Barack Obama is an intelligent guy, but he is clueless about the simple fact I've mentioned above. That's because he campaigned as a man of the people, but he really is a president for rich people.
He doesn't seem to have a clue as to how the economy functions.
A lot of people think George W Bush was this nation's dumbest president. Maybe he was. But Obama is clearly as dumb as Bush was when it comes to the economy.
Hopefully, Obama will be a one term president. On the other hand, the other idiots running appear to be just as clueless, or rather, they're on the corporate payroll just as much as Obama.
It's really sad to say, but this nation needed another Franklin Roosevelt and we got a slightly slicker version of George W Bush. Maybe we should impeach Obama and get our misery over with by electing Bernie Sanders as president. He would probably be exactly what this nation needs.
Thursday, June 2, 2011
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