realize what we have today in this country is "Corporate Welfare Capitalism." It's a capitalistic system that by design will make most people fail financially in life no matter what they do.
It's a system that's been corrupted to reward the few and move many into financial despair. I think it's only going to grow worse before it gets much better. Our current financial system is obsolete for the 21st century.
Here is an article, for example, I was recently reading, it's about a year old. but still relevant IMO. "Almost 80% of Americans live paycheck to paycheck w/poll"
http://www.dailykos.com/story/2010/10/30/915125/-Almost-80-of-Americans-live-paycheck-to-paycheck-w-pollHere's another article I read today, I think it was referenced already on DU. "A Huge Housing Bargain -- but Not for You"
"NEW YORK (RealMoney) -- The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.
http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.htmlThese homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.
You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.
In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates
...
As intended, the mass media are playing their part in classic style. Every major newspaper in the U.S. has run articles discussing the plan as a rental conversion, allowing readers to assume that Fannie, Freddie and HUD will be renting the properties directly to families who need housing. And although there is an allowance for these kinds of rentals, it is a minor political facade to the obvious true goal of bulk-sale privatization of these homes"
http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.html