This is another example of what is one of the biggest dissapointments in the 20 months of this Obama administration. Unfortunately all the talk we heard about his interest in finally helping out the middle class that has been crapped on and ignored during the past decade was nothing more then blather. As long as his primary counsel is the wall street creation T. Geinther,or the like of L. Summers there is obviously no hope for homeowners in this country who need help. His treasury sec. Geinther argues against a moritorium on foreclosures because it would possibly hurt the banks bottom line. Who cares about the damage done to the millions losing their homes. Not his problem, not any of our so-called representitive’s problem either. Its hardly a topic of discussion because the people really no longer appear to have a voice in this country.

All this is according to plan and right on schedule. Remember Reagan’s
economic team who devised a long term plan to transfer wealth from
the middle class (and now the poor) to the very rich? It’s working very
well. Since there is not enough space to publish the whole article and I
regret I have no web address for it here are a few bits and pieces.

What’s happening

    We are witnessing a massive redistribution of wealth from the
middle class to the very rich.

      How it works

    The tax code is the principal means of transfer of wealth from the
middle class to the wealthy.  The transfer is effected primarily by four
on-going trends. Subsidies, bashing organized labor, privatization and
deregulation.

  The cause

    The economic trend of the past thirty years is the result of an on-
going program by Grover Norquist, Richard Viguerie, and a few others
in Reagan’s economic team to institute government policies designed to
redistribute wealth from the middle class to the super rich by means of
direct subsidy, bashing organized labor, privatization, and deregulation. 

      In spite of the oft-repeated desire of consumers of this
propaganda to reduce government spending, the goal of the creators of
the propaganda is always to increase government spending.  In order to
redistribute wealth, government spending must constantly increase. 
Increasing the flow of tax dollars to the super rich inevitably results in
an economic downturn.  Public dissatisfaction with the economy after
these downturns results in a change of government.  The negative
attitude toward government created by the fictions means the new
government charged with restoring the economy will be vilified.  This
assures the time in office of those supportive of good government will
be brief, and the redistributors will return to power quickly.

    Norquist and company like to call this redistribution “Socialism for
the rich”.  This is a dangerously misleading euphemism. 
   
Compare the economic effect of a dollar of public spending spent on by
a food stamp recipient who creates a multiplier effect which is good for
the economy with ten dollars of federal subsidy given to a billionaire. 
He deposits five dollars in an off-shore bank account, and invests the
other five in a hedge fund speculating in energy futures.  Both
expenditures deprive the economy of the multiplier effect we saw in the
case of the food stamp.  The speculative investment has the additional
deleterious effect of contributing to the next economic downturn.

    The founding fathers assumed a democratic republic could not
survive if there was a great disparity between the wealthiest and the
poorest.  They believed this because John Adams had discovered in his
research of democratic republics that each had failed when the people
gave up their rights to a privileged few.  We moderns do not need to
rely solely on Adams’ research.  In the past century we have witnessed
numerous examples of failed democracy in South and Central America. 
There are differing contributing factors to each individual failure. 
However, in every case, no matter the other factors, the failure occurred
in a society riven by a deep fissure between rich and poor.  The absence
of a strong middle class was a constant in each failure of democracy.

These are only excerpts and I can’t publish the whole piece. You can
watch the PBS Frontline show, ‘Warnings’ to see more about how this is
working. And it’s all done right in front of our eyes. And now it’s legal.