of the world's weath was destroyed in the last year and a half, according to this guy.
I may not be a financial "expert", but I have a little common sense, and I disagree thoroughly. The "wealth" he refers to was an illusion. Those who know me have been hearing it for years: housing prices were too damn high, the market was WAY too damn high for the amount of actual value. There was nothing of worth holding the house of cards up, and it is now crashing down on them.
The markets are correcting to where they ought to be. This needs to happen. Yeah, it hurts, but to be brutally honest, we as a people let it get this bad in the first place. We got greedy, and wanted as much as we could get for as little effort as possible. And yeah, I mean we. If we personally didn't take part in it, we let it go unchecked, and even validated it by maintaining our ridiculous lifestyles.
Our "poor" people live better than rich people in other countries. A food charity can feed a child for less than 200 bucks a year, but in this country we can blow 200 bucks in fucking Mickey D's and not break a sweat. Things we consider "essentials" are unreachable luxuries for anyone else. God forbid our kids not get a flippin' PSP for their birthday.
Only in this country can a person pay more in child support than some people MAKE in a month, and have the ex-spouse collecting it sit on their fat ass and not work, and complain that there's not enough money, and have people FEEL SORRY for them.
Our western culture is ridiculous. Maybe the S needs to HTF to weed out the suckas and slackers, and make them man up. I firmly believe in helping those who aren't capable of supporting themselves: children and the elderly for example. Everyone else needs to get their shit together or die. Sounds harsh, but letting the slackers ride this long is part of what got us here in the first place.