Saturday, March 15, 2008

The poor bail out the rich

We are letting the government give millions to the rich on the backs of the poor.

Lower interest rates are saving millionaires, speculators and financial institutions.

In the meantime, the poor see their credit rates hold steady (if you're lucky) or rise.

The interest rate cuts that are saving speculators are also driving up the price of oil.

Millionaires can drive where they please, while poor and middle class people see their dollars buy less and less. Essentially, driving down income.

A salary that bought you 5 gallons of gas/hr. five years ago, now would get you 2.

Meanwhile, the CEOs of mortgage banks that caused this fiasco are filling up their Mercedes as the government funnels billions to undo the damage they caused.

Billions for Bear Stearns not a dime for the working man.

2 comments:

Anonymous said...

"Interest rate cuts are driving up the price of oil" - Huh?

While I agree that the high price of oil hurts all, the lower-income workers to a greater degree, I have to question this remark.

Can you explain?


Also, I thought that credit card debt was the result of poor spending decisions - but you seem to think that lower credit card interest rates are a God-given right?

i,m,small said...

THE GREAT BAILOUT

Obama is--we know--a reader,
And also--it may be--a leader;
But it is very hard to lead
A nation so consumed with greed.

It turns the Christ upon his head:
Meekness and poverty stay dead
Within an economic system
Bailing out theft, but never wisdom.

The "least of these" my brother is,
But no one wants to hear of this,
"Spreading the wealth" the Christian way
Becomes a sin; the poor the prey.

It was the age--O don´t you doubt--
To be known as the Great Bail-Out,
As Wealth bailed from the common good
But left the poor to drink the flood.

.