Hi Billy, On Apr 11, 2012, at 9:07 PM, [email protected] wrote:
> In any case, my take is that, bad as F & F were / are, the worst culprits > were / are > Wall Street finance people. This is directed at finance people, NOT average > stock brokers, not business owners, not general bankers, etc, essentially > just at finance big shots. I still only buy half the argument. Yeah, Wall Street was being driven by scum who created a bubble. But they *did* create a bubble. Even if it burst, it generated an extra decade or so of prosperity than most of us benefitted from, even indirectly. If Wall Street had been more honest and less greedy, we'd probably have faced a more gentle slowdown, but we'd still be in more-or-less the same economic doldrums we are in now. All this focus on the financial sector obscures the deeper problems with the industrial phase change we are facing, as white collar jobs are being destroyed by *productivity*, not merely outsourcing. That is the real crises. We need a growing economy creating sustainable jobs, or nothing else matters. Burning effigies of Wall Street is fun, and probably even justified, but doesn't actually solve anything. -- Ernie P. -- Centroids: The Center of the Radical Centrist Community <[email protected]> Google Group: http://groups.google.com/group/RadicalCentrism Radical Centrism website and blog: http://RadicalCentrism.org
