[Rhodes22-list] Politics: Upping the Ante

[Bill Effros]

Robert,

Actually, many people around here (Greenwich, Ct.--NYC) will never in 
their lifetimes do nearly as well as they did before the reality of this 
situation started to hit.

They didn't save enough when times were good.  They didn't put their 
money into truly safe investments.  They are in the middle of projects 
they can't complete.

When a government effectively owns your bank, you know you will never be 
offered the kind of deals you could get when everyone thought they were 
the kings of the universe.

Many have lost jobs that will never again exist. And they don't know 
anything else.  As a practical matter, Brad won't hire them, either -- 
Brad will hire younger people who would have become bankers who will 
learn other professions instead.

Nobody, myself included, has the slightest sympathy for these people as 
a group; although their individual stories can be heart-rending -- 
especially those who were making money honestly in fields that will 
disappear.

Most of these people are toast--and no amount of government intervention 
is going to change that.  The people who are planning to "redistribute 
the wealth" will, at some point, discover there is no wealth to 
redistribute.  Only when we, as a nation, start to again work hard, and 
discard the lottery mentality, will things start to get better.  Slowly.

I doubt most of the formerly wealthy will ever get back to where they 
were.  They are left with a lot of things they don't really want.

Bill Effros



Robert Skinner wrote:
> Brad Haslett wrote:
>   
>> ...  Do you think those unemployed
>>     
>  > bankers and stock brokers hanging around
>   
>> your dock would like to learn how
>>     
>  > to operate heavy equipment? ...
>
> No.  You will notice that they are still
> living pretty high off the hog, even
> though they might have to sell off a few
> houses until they find another board
> full of old boys that will award them a
> tit on a corporate sow.
>
> The new aristocracy will not suffer much
> unless the guillotine comes back.
>
> Frankly, I would welcome a remedy short of
> mobocracy and a tax and welfare structure
> that will complete the exodus of
> capability from the US.  There are elastic
> limits in every direction of motion and
> policy.
>
> /Robert O'Maine
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