Yesterday' s news didn't surprise us. News reports this week reveal the average worker has lost wages in the past ten years. NY Times report upscale brands are now offering sales once considered "exclusive" fo top tier customers to the average buyer on the street.
Sale of luxury items such as private jets, yachts and auction sales are down. Las Vegas resorts once demanding 250.00 plus nightly room rates are advertising side by side with the junket hotels offering deep discounts.
While the "rich" may have the majority of the income it stands to reason they have to earn or sustain it. It is a little like a pyramid scheme. Stockholders demand profit. Businesses need customers.
Where does all this buying power initiate? You can sell at the top for a limited time.
When workers no longer have buying power, the system topples.
Continue the layoffs, pare the staff, double the workload-cut benefits-succeed at increasing the immediate short term profit to make stockholders happy and in the long run-the top loses.
Our economic model is dependant on both consumers and shareholders.
When shareholders greed transcends consumers sustenance, the model fails.
The "Haves" might want to remember they depend on the "Have Nots" for their riches.
Americans are quite resourceful.
As resentment builds, fear and distrust of government and big business grows, Americans will find ways to sustain themselves without the forced and monopolistic business pressures.
More people grow vegetables. Consignment shops, flea markets and garage sales are first contacts for buyers. Free and Share Internet sites grow.
Craiglist grows because buyers and sellers work the old market model-it only sells for what what someone will pay-or it doesn't sell. Unrealistic prices are lowered regularly.
Beanie Babies and Tickle Me Elmo would not sell for overinflated prices in today's economy.
Even the technologically futuristic phones of today no longer have waiting lists. Buyers want a phone that works, for a fair price. Period.
You don't see people camped out the night before a new game, phone or video enters the store.
Who cares?
The Haves may sustain their "Haves" but at some point, like the stupidity and greed of the market, eventually it implodes on itself, because it needs the "Have Nots" to sustain the model.
Today the "Have Nots" are truly the have nots.
They will survive and knowing American history, they will not only survive but invent, create and define new methods to survive-but the Haves may regret it.
