In today's The Sunday [Alburquerque] Journal, a sydicated financial genius named Gail MarksJarvis from the Chicago Tribune explained how the middle class use of "strategic defaults" on house mortgages is an "erosion in ethics. http://www.gailmarksjarvis.com/ Thank God we don't do that in New Mexico!
But, just gag me with a pound of gold. Ethics in money are eroding? Like, since when: 1880? 1980? 2010?
For many years, our neighbors, our banksters have patted themselves on the back. Paid themselves billions in bonuses EVERY YEAR! Finally a syndicated, self-proclaimed personal financial advisor noticed that ethics in money are eroding! Oh, thank God! There's hope, again!
Back of the envelope calculation: every year for the past 3 years, 100,000 house mortgage holders across the United States "chose" to default on their house mortgages which are underwater by $100,000. The total loss to the banksters each year might be $10b (in 2016). In the meantime, in between time, somehow the banksters found the wherewithal these past three years to give themselves billions of dollars in bonuses EVERY YEAR! [emphasis added] Even after the mortgage payors, i.e., the citizens, agreed to give the banksters over a trillion dollars in subsides to save their f****** financial asses.
Do I feel that my ethics have eroded? Are the Rich different? Am I as blind as a professional personal financial advisor in Illinois? NO!
We need to revive an honest, old-fashioned American ethic: to invert Franklin: a penny earned is a penny kept. Our dear "symbolic analysts" across the U.S. who told us how to get rich in 15 minutes need to take a break. Let's get real. Let's make things that people need. Let's grow food that people can eat. The land and our talent are still the basis of real wealth.
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