Throughout this recession, the rich got much richer, while everyone else got considerably poorer. How could this happen? Rather than spouting off some arcane and flimsy economic theory, let me put the obvious in blunt terms:
The wealthy and powerful privatized their profits and socialized their losses.
What, you say? Think about it: Corporate profits went through the roof. CEOs and Wall Street execs took the money and ran. In other words, they privatized profits, primarily by removing them off the books and putting them into their own private holdings. And when it came time to pay back small investor losses, they got the U.S. government (read: U.S. taxpayers) to foot the bill. Socialism, pure and simple.
We got fucked, brothers and sisters. Next time, I want some say in how I get fucked. Or at least get a reach-around while I'm being reamed.
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