I've often thought about why countries let themselves fall under tyrannical rule. It seem the story is the same. The poor get poorer, the rich get exponentially richer and the tyrannical see the opportunity to take control. But why do the rich get so exponentially richer? Why do they need to get so wealthy? Why do they need to play the existing system to gain that extra billion when it obviously damages the rest of the populations ability to make a living?
I thought of this again today when I read this link I found on Patrick.net.
Bill Gross bought a house for $23 million, and is tearing it down. Doesn't that seem absurd? I mean if you have the money I guess do whatever you want but this guy is one of the faces of American business; don't you think it sends the wrong message? And while millions of people lose their job don't you think you open the door for Left wing radicals? Bill, don't you think your action stinks of arrogance?
I don't suggest any sort of legislation or control over what one does with one's money. I am just commenting that states have fallen to tyranny time and again after their rich almost mock the poor with their success. They control the system that is in place to make billions borderline illegally and certainly unethically. Think of Alan Greenspan's manipulation of the interest rates that caused the biggest housing bubble in history. Who does that really benefit in the end? It certainly causes financial ruin for all those who took the bait but those on the inside, they've already removed their chips. Those on the inside that fail, well, they're to big to fail.
I suggest that if the rich weren't so obviously manipulating the system they manage(Goldman, AIG, JPM, PIMCO, etc.), and that manipulation wasn't so obviously ruining the economy in the long term, it wouldn't be as easy for the Left to rally the less educated, jobless masses.
But hey, Bill needs THAT waterfront property to be happy, so Helicopter Ben, let's keep those interest rates down, keep the QE going, at least until he gets the new house completed. Then what does Bill care what happens to the economy? He's on an island.