Main Street Versus Wall Street

I watched Obama’s speech last week and frankly I was disappointed. It was a nice speech, but in my view, Obama missed the key issue that will fix our economy from a death spiral. That issue is Wall Street.

We all agree that Wall Street and the Fed are the underlying reason behind the greatest economic depression since the Great Depression. BTW. Why do people call our current crisis the worst since the Great Depression? They have been calling it that for years at this point. The Great Depression is over and it was bad. Our current crisis is not over, and so therefore, we cannot compare one against the other.

Back to Wall Street. So these guys are making record profits. They are making money hand over fist during this economic crisis. While unemployment remains high and the rest of America suffers, these guys are raking it in. Why is that? I think I know. Read More