Friday, February 25, 2011
Let's compare two nations...
Nation #1 - Saudi Arabia
The Saudi Arabian people are deeply unhappy- vocally so, and there's fear of revolt within the nation like in Egypt. Bahrain, Tunisia, Iran and Libya. So what does the Saudi King do? He listens to their needs by announcing an unprecedented economic package that will provide Saudis interest-free home loans, unemployment assistance and sweeping debt forgiveness. The total cost estimated to be at 135 billion Saudi riyals or $36 Billion US dollars.
The most prominent step was the injection of 40 billion riyals (US$10.7 billion) into a fund that provides interest-free loans for Saudis to buy or build homes. Other measures included a 15 percent cost of living adjustment for government workers, a year of unemployment assistance for youth and nearly doubling to 15 individuals the size of families that are eligible for state aid. The government also will write off some individual debts.
now.. Nation #2 - USA
The people are unhappy but barely make a peep. Too busy watching TV and playing video games. The middle class is being decimated. The poor are poorer. The elderly are in horrible financial shape, and Wall Street & corporate America are stronger than ever... yet the American people for the most part don't complain. Sure, a few protest a few hours each day when unions are being threatened with extinction but then immediately offer concessions.
Most Americans complain about other Americans- they got themselves into their own mess.. they should work harder.. longer.. take two..three jobs if need be.. "I" don't have a union protecting me so you shouldn't either.. A sociologically warped 'Stockholm syndrome' of blaming the victim rather than those entities responsible., while cheering and giving 'respect' to greed.
So what does the US govt do in response to the needs of the people? Does the government offer zero-interest loans? No. It wants indebted Americans to get into more debt. Does it offer credit card & mortgage debt forgiveness? No. Well it offers bankruptcy but you lose your worldly possessions then have a Black mark on your credit for 7-10yrs. Does it make any effort to create good paying jobs while curtailing outsourcing? No. Absolutely No incentive to create jobs. Example- the latest budget by President Obama- not a single penny towards a job creation program. And no, Republicans don't care about you at all.
Fed Reserve Chair Ben Bernanke recently said that unemployment would not reach pre-recession levels until late 2015-early 2016. That's another 4+ years folks. Can you survive another 4 years without work? Could you survive with no steady income and no more nest egg?
The squeaky wheel gets the grease. What does that mean? Simple- those who complain the loudest and most vociferously get noticed and get helped. The quiet, stoic people end up losing everything. And because Americans refuse to stand up for economic justice & their survival, government is not afraid or concerned about the populace. Thus, there is Zero incentive to help the bottom 98% and nothing gets better.
Posted by Susquehanna at Friday, February 25, 2011