Extreme Capitalism and Poverty

Goes hand in hand. Current stats show that 20% of the Rich own 80% of the Capital. Nothing new here. In the 1960s when I was still in Europe I read the book by L.L. Mathias, published 1964 by Rowohlt Verlag GmbH, Hamburg, Germany. It was written in German, titled: DIE KEHRSEITE DER USA. (The other side of the USA). President John F. Kennedy in his first address to the United Nations, January 30, 1961: “ Before my term ends, we will have to determine again if a nation who is as organized and governed as ours, can continue to exist. The result is not at all certain.” [L.L. Mathias, 1893-1970. Journalist, Author; lived long in South America, Mexico, then USA]. His most acclaimed book critically explores what is behind the ‘glitz and glimmer’ of the USA, to present a realistic assessment. I have this book in my own library with hundreds of other books in four languages, most of them impossible to buy anywhere now.

What we learnt here is what is being discussed today: Extreme capitalism cannot help any nation to become a sound and well-founded democracy. According to current statistics, the rich get richer, while the poor get poorer, or otherwise also known as the “water treading” syndrome – standstill, we are not getting anywhere, we have more poverty, less government money, more people on ‘life support’. The question that always comes to mind is: Why do those who have incomes or capital in the billions need so much money ? Just like the poor, they can only eat, sleep and s*%#. They can only eat so much. Or do they need sandwiches with 24 carat gold pate ? Or platinum toilet seats ? A poor person, or even a regular dude, can live on 10 dollars a day, while the rich dude needs at least 500 thousand dollars a day. You must be kidding ! Same with housing. One person can only live in one house at a time. Why one hundred houses, for what ? The US government is going to go broke so bad, they already have trillions in debt, they won’t be able to support a growing army of welfare recipients and poor. Why is it not possible to curb this endless greed. Instead, develop a healthy democracy where all citizens can live and have enough to eat and a shelter over their head.

It is true that those who are rich also pay higher taxes (or at least should pay), on the other hand it is also true that money corrupts. The more you have, the more you want. [My own example: In 2002 I sold my condo 3000 square feet size and lived in my mini van for three months – 9 square ft. Everything is possible. Didn’t bother me a bit.]

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