1383 Where’s Your Money

We’ve all heard how the last couple of decades have resulted in the largest concentration of wealth in the hands of the top 1% since the 1920s. So the big question is, where’s your money? That whole trickle down thing doesn’t seem to be working.
There’s trillions in cash sitting on the sidelines. But things aren’t getting better for most of us. A couple of interesting facts: GM is now profitable. The Obama Administration took a hit from the TeaPartiers for government bailouts, but GM is now going public again because last year it showed a profit. And the nefarious TARP funds are all paid back, at a profit to the feds. The government, and by extension the people, stand to make a profit.
Still, the people are underwhelmed. We won’t see much of it. Our middle class tax cut last year saved us a whopping total of $400. Not even enough for a big screen plasma TV.
Meantime, major corporations and industry groups that used to give money primarily to Republicans, gave 53% of their donations to Democrats in the mid-term elections. Maybe they’re looking for even more profit-inspiring government action or regulatory undersight.
You got to wonder. Here’s an interesting fact. From January of 2009, when President Obama took office, through June of 2010, corporate profits rose 62 percent. That was the strongest 18-month rise since the 1920s.
Ah yes, the 20s. The gilded age. Conspicuous consumption by Fat Cats—those people they made the drawings on the Monopoly board to represent.
“Perhaps I could interest you in a hotel on Park Place. What, you can’t afford it? Where’s your money? You lost it when you lost your 401k in my stock market? Naughty ordinary person.
“Do not pass go. Do not collect 400 dollars.”
America, ya gotta love it.