Letters to the Editor
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Main Streets fault
There is nothing new under the sun, including the oft repeated warnings coming from inside the belly of the beast. Here's something new, maybe Main Street is dragging down Wall Street. The wealth indicator of the average American is in full swoon. What do we do when there are no more jobs? Do we give the people money to spend, and call it economic growth? There are numerous reasons why Americans have some advantages, they are better educated, and they have a sense of fairness. Go anywhere else in the world and try to match those two qualities and you might be surprised at how hard it is.
So is it Main Streets fault, not completely, Wall Street used to rely on the investment cash from individuals, now they suck up to the pension fund trough, the worker never sees the money, and if his retirement fund loses value he has to make additional contributions, involuntarily of course. CalPers, the most prestigious state retirement fund announced today it was selling stock, to buy higher yielding investments, more risk not less. Does the rank and file give a shit? Not likely. They will. They will.