Foreclosure USA Revisited

I bet most Americans believe the current mortgage crisis came on suddenly and might even be wondering how so many smart people in the financial sector could be so shocked by the enormity of it. In fact, all of it was seen and predicted by many honest people. The following is the article I wrote and published in October 2006. Make no mistake, the mortgage crisis like so much else happening in the nation is a consequence of the decline and corruption of American democracy.

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We the people once owned our democracy. We elected "representatives" to run it for US. Have you noticed? Somewhere along the way we lost our democracy.

It was foreclosed by wealthy and power elites that corrupted our "representatives" who literally sold us out. Our homeland was foreclosed right in plain sight. Sure, we citizens still reside in the USA, but we no longer own our democracy. We pay rent through our taxes. But we no longer have any equity. Our democracy is owned by the rich, and their partner foreign elites and governments, which is why in a strict sense it no longer is a democracy, but rather a plutocracy.

Modern day aristocrats - an apt terms considering the many political dynasties in our ruling class - maintain the charade that America is still a democracy by letting us vote. They also give us many freedoms to distract us from our dire political conditions. They're smart, so they limit our choices to the main parties that constitute the two-party duopoly. Even smarter, they convert consumer spending (that they spur) into economic inequality, making them, the rich, even richer and everyone else, all of us, poorer.

Donald Trump says we hardly have any middle class left. He ought to know. Lou Dobbs says there is a war on the middle class. He does not say what would only depress his audience, even more. We the people have already lost the war. We have a large Upper Class, for whom prosperity is real, and an expanding Lower Class, for whom economic slavery based on compulsive borrowing, debt and spending is all too real.

How We Lost Democracy Ownership