T Nation

Wall Street v. Main Street


#1

Article by Gary North appearing on Lew Rockwell, Wednesday, October 10:
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[center][b] Wall Street vs. the Middle Class[/b][/center]

Anyone who thinks that the super-rich, the rich, and the wanna-be rich who comprise Wall Street are defenders of prosperity in the name of the middle class is terminally naive. He is confusing Wall Street with the free market.

The free market is the great friend of all classes. Through the division of labor engendered by private ownership, the free market supplies ever-increasing quantities of goods and services for all classes, but especially the middle class. People in the lower classes can legitimately hope to enter the middle class. A few will become rich...

http://www.lewrockwell.com/north/north574.html


#2

Does anyone sincerely think this? Seems he has created quite a strawman to beat on.


#3


Here's a clue.


#4

It should be, the Fed against the middle class.

Wall Street just profits from it.

Then of course some extremely clever people installed the Fed, so yes, I believe this.

Why fight the socialist ideas of the unwashed masses when you can finance them via inflation and make a fortune with it at the Wall Street?

Should work for a hundred years or so and that gives you time to invest in land, real estate and finite resources to sit out the next hyper inflation, that will wipe out the life time savings of the middle class and thereby pay the bill.

As I posted in another thread, rich people are so much better at stealing, it is allmost laughable.


#5

Yes. I believe it because all the evidence points directly at the Fed.

The thing that should be outraging everyone is that they quit publishing the very figures that made inflation calculable -- the money supply. Now no one knows how bad it is or how bad it is going to get over time.