Here's a news item from the MSM(mainstream media):
The Associated Press reported today that Goldman Sachs, Wall Street's biggest investment bank, thinks a recession will be inevitable this year. The housing meltdown/credit crunch threatens to "slingshot" the economy into a recession. (Slingshot--I like that analogy. It's so Biblical!)
Here's a news item for the MSM--free of charge. Those who labor at the bottom of the economic food chain are already in a recession. Matter of fact, we're in a CODE ORANGE economic depression, and have been for years. Don't like the "D" word? What do you call it when you walk past people sitting on the cold sidewalks, or sleeping under highway overpasses because they can't afford rent? What do you call it when you see men, women and children in the subway stations asking for some help? This situation isn't limited to NYC. It's nationwide. Like countrywide's CEO severance pay, it's a nationwide disgrace.
You remember us, don't you? The little people Leona Helmsley referred to when the tax dodger said, "Only little people pay taxes." We're the workers who earn less than $102,000 a year and have to pay social security taxes on those wages. We're the ones most likely to need that meager income that we worked for-- when we become disabled, or when we retire with no golden parachute, no employer paid pension, and no free health care for life.
Remember Social Security? The People's pension fund Wall Street is so eager to grab, and that Bush tried to give away to Wall Street.
Mortgage meltdown refers to the predatory lending SCAM perpetrated on consumers who bought into Bush's "ownership society" and who tried to buy a cornerstone of the American Dream for themselves and their families. Loan sharks dressed as mortgage brokers were happy to oblige them, one and all, with subprime variable rate loans. When the mortgage payments ballooned and these home owners defaulted, the mess hit the fan.
But not to worry. Bank of America bailed out Countrywide, and the CEO of Countrywide will (eventually) land in Unemploymentville aided by a golden parachute worth $1 million plus. In addition, Bank of America will keep the executive on as a paid "consultant" for a few years.
Not so fortunate are the record numbers of workers facing the New Year on unemployment lines. And the retail workers/hourly wage slaves who get their hours slashed. Already trying to survive on wages that barely surpass minimum, hourly wage slaves are having to survive on even less.
What's a wage slave to do? Complain to yer union--if you have one, and if the one you have's not on life support. Oh, wait: labor unions were outlawed by the Bush administration...no, wait-- not quite--yet.
But the Bush Administration and the good folks in Washington stand ready to rescue us with a tax rebate, much like the one in 2001 that was sent out to low wage workers. I remember that rebate. After our hours and our OT had been cut at the factory for months, that $300 came in real handy. It allowed me to partially pay my very late back rent. My second job paid the rest.
Thanks George!
BTW: We don't need no stinkin' rebate. What we need in America is a country wide slave revolt.
The Associated Press reported today that Goldman Sachs, Wall Street's biggest investment bank, thinks a recession will be inevitable this year. The housing meltdown/credit crunch threatens to "slingshot" the economy into a recession. (Slingshot--I like that analogy. It's so Biblical!)
Here's a news item for the MSM--free of charge. Those who labor at the bottom of the economic food chain are already in a recession. Matter of fact, we're in a CODE ORANGE economic depression, and have been for years. Don't like the "D" word? What do you call it when you walk past people sitting on the cold sidewalks, or sleeping under highway overpasses because they can't afford rent? What do you call it when you see men, women and children in the subway stations asking for some help? This situation isn't limited to NYC. It's nationwide. Like countrywide's CEO severance pay, it's a nationwide disgrace.
You remember us, don't you? The little people Leona Helmsley referred to when the tax dodger said, "Only little people pay taxes." We're the workers who earn less than $102,000 a year and have to pay social security taxes on those wages. We're the ones most likely to need that meager income that we worked for-- when we become disabled, or when we retire with no golden parachute, no employer paid pension, and no free health care for life.
Remember Social Security? The People's pension fund Wall Street is so eager to grab, and that Bush tried to give away to Wall Street.
Mortgage meltdown refers to the predatory lending SCAM perpetrated on consumers who bought into Bush's "ownership society" and who tried to buy a cornerstone of the American Dream for themselves and their families. Loan sharks dressed as mortgage brokers were happy to oblige them, one and all, with subprime variable rate loans. When the mortgage payments ballooned and these home owners defaulted, the mess hit the fan.
But not to worry. Bank of America bailed out Countrywide, and the CEO of Countrywide will (eventually) land in Unemploymentville aided by a golden parachute worth $1 million plus. In addition, Bank of America will keep the executive on as a paid "consultant" for a few years.
Not so fortunate are the record numbers of workers facing the New Year on unemployment lines. And the retail workers/hourly wage slaves who get their hours slashed. Already trying to survive on wages that barely surpass minimum, hourly wage slaves are having to survive on even less.
What's a wage slave to do? Complain to yer union--if you have one, and if the one you have's not on life support. Oh, wait: labor unions were outlawed by the Bush administration...no, wait-- not quite--yet.
But the Bush Administration and the good folks in Washington stand ready to rescue us with a tax rebate, much like the one in 2001 that was sent out to low wage workers. I remember that rebate. After our hours and our OT had been cut at the factory for months, that $300 came in real handy. It allowed me to partially pay my very late back rent. My second job paid the rest.
Thanks George!
BTW: We don't need no stinkin' rebate. What we need in America is a country wide slave revolt.
No comments:
Post a Comment