[extropy-chat] Redistribution of wealth

Mike Lorrey mlorrey at yahoo.com
Wed Sep 29 14:08:41 UTC 2004


--- BillK <pharos at gmail.com> wrote:
> 
> Another major cause was the greatly unequal distribution of wealth
> from the 'Roaring Twenties' in the US  The working class could hardly
> afford to live and were buying everything on credit. Wealth was
> concentrated in a tiny percentage of the population and a few hundred
> very large corporations. The whole setup was very unstable.

You have to laugh at BillK's blinkered view of history through
socialist blinders.

before the stock market collapse, we had one of the highest percentages
of the population with significant investment holdings in our history.
Of course, we also had a very high rate of home ownership, though most
were mortgaged. When the credit market collapsed due to european
socialism, banks called in loans on normal people who had real assets,
like homes, farms, etc because these real assets were far easier to get
money out of than bankrupt securities.

=====
Mike Lorrey
Chairman, Free Town Land Development
"Necessity is the plea for every infringement of human freedom.
It is the argument of tyrants; it is the creed of slaves."
                                         -William Pitt (1759-1806) 
Blog: http://www.xanga.com/home.aspx?user=Sadomikeyism


		
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