@9 Mongoose
“Wrong, wealth has increased in the last 20 years. Obama is purposefully destroying wealth at the moment. It need not be.”
I agree that Obama and company are deliberately destroying wealth.
The question is why… my guess is that he and his leftist cohort understand that the greatest obstacle to the full implementation of his socialist vision is our vast, somewhat affluent, unflappable, self-reliant middle class. If they were anything like me in August of 2008, they had nice homes, well-paying jobs, self-funded health care, kids in private schools… and staggeringly large private investment accounts (retirement income) awaiting them when they hit 65.
Not the sort of person willing to give up any freedoms to the federal government in exchange for being “taken care of” by that government, because it’s against their very nature and they don’t need the “help”. Therefore, if BHO intends to fully implement his socialist vision, he must make a significant portion of the middle class dependent on govt for their very survival.
Tell me if this sounds familiar: I’ve been maxing my 401(k) contributions for over two decades now into a very aggressive portfolio… had the stock market not tanked, but rather continued to produce the same steady returns that it has averaged for decades, I would have found myself sitting on over 8 million bucks by 65. Besides living well in retirement, I had planned to endow each of my children with a gift of a million dollars when they reached the age of 30, in hopes that they would use it to start a business, etc…
Now, unless something happens whereby the market stages a rally as big as its present collapse has been, that goal will never be realized. And I’m quietly mad as hell about it, since the collapse represents the sort of theft for which there is no suitable compensation. Twenty years of playing by the rules, gone.
So, Strike One, billions saved by millions for retirement are gone. Hello, Social Security.
Strike Two, home values crash, leaving many owing more than their homes are subsequently worth.
Strike Three, confiscatory taxation goes ballistic, taking a significant portion of what’s left over…
Strike Four, single payer health care, a part of which will be a govt bureaucracy that decides if and when you get that vital MRI… guess who will be kissing whose @ss when that comes around…
There are probably more strikes I could note here, but it’s late and I’ve got to call it a night… but you get the picture.
A vast, somewhat affluent, unflappable, middle class, that neither wanted nor needed any “help” from the government now finds itself on the road to a paycheck-by-paycheck existence, extremely vulnerable to even the slightest ill wind… and, no doubt as these socialists intended, so freaked out that many will practically beg the government to do whatever is needed to protect then from further loss, even if it means surrendering some God-given freedoms to do so… and becoming dependent on the government as a result…
We are in danger, people – bigtime. Serfdom lies down this pathway.
God save us…
Triton
