DJ, I thought interest rates would start back upwards in March last year. But then I seem to always think things will happen quicker than they do.
On destitution, it's not a word which can reasonably be used in 21st century USA.
Since there's no natural limit on how rich people can get, with 6 billion people contributing to wealth, it's entirely logical that the rich would get richer. $1 from each person in 2004 is $6 billion. $1 from each person [who actually has one] in 1900 would have been about $40 million. So $ill Gates can have $50 billion these days. That wouldn't have been possible only 30 years ago when China, India, Africa and a lot of other places weren't in the global economy.
The rich of course get richer and there's nothing wrong with that. It's a good thing. The poor are better off too. The life of the poor is improving much more than the life of the rich, who have so much they either fund malaria-killing foundations, give it to the UN, give it to charities, or just stack it up higher. The poor have gone from having their ribs sticking out to being the subject of government obesity studies and regulations.
Rich people are the ones who take risks with their capital and time in doing really great things, like Globalstar, malaria research, HIV killing, inventing CDMA. Poor people live hand to mouth and would never have CDMA powered cyberphones if there weren't rich smart people to try to create them.
Governments redistributing money from rich to poor is just capital destruction, demotivation and poverty-inducing.
Mqurice |
