Tom Sherman wrote:
> The system does not exist to serve the little guy - Alan Greenspan even
> admitted as much.
> It almost make one wish for a Republican president, so they can deal
> with the mess they created. Of course, we may well have two Republicans
> running for office this year.
http://www.nytimes.com/2008/03/08/business/08recession.html?ref=business
Seeing an End to the Good Times (Such as They Were)
"Recent recessions have inevitably brought inflation-adjusted income
declines for most families, which would be particularly painful given
what has happened over the last decade. For a variety of reasons that
economists only partly understand — including technological change and
global trade — many workers have received only modest raises in recent
years, despite healthy economic growth.
The median household earned $48,201 in 2006, down from $49,244 in 1999,
according to the Census Bureau. It now looks as if a full decade may
pass before most Americans receive a raise."
"Healthy economic growth"! Despite rise in GDP and productivity, the
MEDIAN income is down over an 8 year period -- all this before the
recession takes hold.
This is the conservative legacy: getting us into a stupid war, losing
the stupid war, sending government and trade deficits into all-time
highs, making the average family poorer, and now, a full-fledged
recession. The only thing they haven't done is to bring back the cold
war -- not for lack of trying. Our suffering is not over, nor our
children's.