- Top Features:
- War Room
- Glenn Greenwald
- Broadsheet
- Joan Walsh
- Camille Paglia
- Since You Asked
- Follow Salon:
Read other letters about this article
There is a recession -- a Rich Guys Recession.
It's almost impossible for a guy to make a buck with hedge funds, real estate speculation, or any of the myriad of money transfer schemes that have been in force since the early 1980s.
Rich Guys now have it tough. Look at the Bear Sterns Guy -- he had to sell his previously valued $1 Billion dollar stock for a mere $62 million.
The Rich are getting Poorer -- but the Poor are getting richer! As you note unemployment is very low. Immigration is dwindling as Mexico recovers its economy. Labor should finally get a break as will all people making under $100,000.
I have simplified the American class system by powers of 10.
Poor: Makes under $100,000
Middle Class: Makes $100,000 - 1 Million
Rich: Makes more than $1 Million
People who make less than $100,00 are getting the best deal. Many have never been able to afford a home, and rent. Now homes are depreciating and they may finally be able to afford one.
Stocks are historically low and we've flushed out all the hedgers and arbitragers who suck off the cream and leave the dregs for the rest of us. Get into some small cap growth funds now and reap the benefits in 30 years.
