Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Johonny

(20,851 posts)
Tue Oct 9, 2012, 12:02 PM Oct 2012

My general impression of why Mitt wants my social security and medicare $

It feels like the personal computer really seemed to change the way wall street worked. Economic decisions could be now made vastly faster than regulators and congress could keep up with economic policy. Since the eighties American have been sold "good" economic policy that isn't long term good at all for the vast majority. It has just been a series of short term boom with no plan for after the bust. The net result has been a spiraling down of the American economy for average Americans while wealth concentrates in the very few.

First you had the era where they bought out the Americas companies created during the post depression boom. They bought them cheaper than their total assets and basically sold them off piecewise. They basically dismantled the great American manufacturing machine for no long term economic reason and sold it off for huge short term gains. Long term now we have less manufacturing base than any stable country needs to insure national security.

When those companies were hard to find they went after the not so great companies. Companies that didn't have a lot of material assets and might not be making money on paper. But these companies had things like pension funds that workers had been paying into since WWII. So they bought out these companies on the cheap, stripped then pension funds.The new companies to follow offered stock options and 401 Ks. Why not they said the market was booming with internet stocks and energy speculation. Now the workers had few jobs, and no privately funded retirement.

Then they went after our housing. Creating great speculation markets that drove the cost of housing higher and higher, and boom. When the bottom fell out they left with the speculation money or a bail out and the workers had no jobs, no pensions and no house.

There would seem to be nothing left to strip out of our economy. But on the horizon is the social security and medicare funds that the workers have been paying into for generations. Mitt Romney's goal isn't to give you more retirement and health care options on the private market. His goal is to strip the value out of our social security and medicare trust funds. His goal is to take as much as possible and leave it in the hands of the 1 %. Then you'll have no job, no pension, no house and no welfare state to even fall back on. Even though in theory they promised each step of the way their short term economic policy was long term going to make your life wonderful. They stripped the short term economic value out of just about everything else. They don't care about you or the countries long term stability. Mitt Romney has his money in foreign countries, a car elevator and a dancing horse, how are you doing in comparison?

1 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
My general impression of why Mitt wants my social security and medicare $ (Original Post) Johonny Oct 2012 OP
The Nail on the Head Shiningthrough Oct 2012 #1

Shiningthrough

(6 posts)
1. The Nail on the Head
Tue Oct 9, 2012, 12:13 PM
Oct 2012

Very well put, you seem to have distilled this economic mess down to its core truth which is that the American dream has been sold, for profit only we're not profiting. Who is? Anybody listening?

Latest Discussions»General Discussion»My general impression of ...