Tuesday, October 16, 2012
The greedy are greedier now!
Are you better off now? YES, of course!
The question posed by candidate Romney “Are you better off now than you were four years ago?” can be answered with a simple “YES”. Let me explain. Most of the working people who have 401k accounts and the retirees who have the rollover accounts saw their “wealth” double now from March 2009 (although they lost lot of their money in Wall Street held before the recession). Look at the Wall Street index numbers. If you left your money in the market in March 2009, it has doubled now. So you heave a sigh of relief that you are not going to the poorhouse. These are the people (either registered Republicans or Democrats) who should decide the outcome of the elections this November. The 47% of the folks cited by Romney did not lose at all in the recent past nor would they gain significantly in the immediate future whoever is elected President. Forget the fatcats who made a killing in the market if they invested in the post-crash market in 2009. If they had $1 billion in March 2009 they have more than $2 billion today. What more do they want?
Those who did not have any investment in 2009 did not gain any nor did they lose any. The Great Recession was brought on due to the excesses and shenanigans from the financial industry. It will take time to recover from those damages. Sure the unemployed folks are hurting. But given time, that situation will change for the better. The natural business cycle will take care of it. The Republicans aren’t going to be able to accelerate that nor will the democrats make it worse. Wait and watch!
The question posed by candidate Romney “Are you better off now than you were four years ago?” can be answered with a simple “YES”. Let me explain. Most of the working people who have 401k accounts and the retirees who have the rollover accounts saw their “wealth” double now from March 2009 (although they lost lot of their money in Wall Street held before the recession). Look at the Wall Street index numbers. If you left your money in the market in March 2009, it has doubled now. So you heave a sigh of relief that you are not going to the poorhouse. These are the people (either registered Republicans or Democrats) who should decide the outcome of the elections this November. The 47% of the folks cited by Romney did not lose at all in the recent past nor would they gain significantly in the immediate future whoever is elected President. Forget the fatcats who made a killing in the market if they invested in the post-crash market in 2009. If they had $1 billion in March 2009 they have more than $2 billion today. What more do they want?
Those who did not have any investment in 2009 did not gain any nor did they lose any. The Great Recession was brought on due to the excesses and shenanigans from the financial industry. It will take time to recover from those damages. Sure the unemployed folks are hurting. But given time, that situation will change for the better. The natural business cycle will take care of it. The Republicans aren’t going to be able to accelerate that nor will the democrats make it worse. Wait and watch!
# posted by Sethu Subramanian @ 1:44 PM 
