That’s a good one. There are thousands of jobs that don’t earn a penny of profit. What’s your guess as to what would make the biggest difference?
The world’s richest people are spending billions to keep governments, businesses, and the world’s leading banks afloat, but the average person is hurting. They’re not able to afford to live in many places around the world, and, increasingly, their government has no means of servicing their bills, much less providing for their basic needs. As a result, they’re more and more willing to sell off what little dignity they have, at a loss to the millions who won’t be able to move to better economic conditions if their government suddenly and permanently collapses. The result is the largest financial meltdown the world has ever seen, while the majority of the planet remains stuck in a vicious cycle: poverty and insecurity; ever more extreme economic inequality that threatens the planet’s survival, the planet’s fragile ecosystem, and a host of other social ills; increasingly desperate and radical political activists fighting for whatever scraps governments are willing to give them — or else to throw to the mob.
A few of the world’s most powerful people, and even governments, seem oblivious to the implications of this pattern. A few weeks ago, Prime Minister Narendra Modi of India declared a national holiday, declaring a day of commemoration for “the poor man from Punjab, whose life has been cut short but whose sacrifice has brought hope to the world.” He added, “I do not know how much his death saved, but I am certain it did not cost him anything.”
At a time when our government’s economic policies have become increasingly destructive, India has just announced a record $40 billion bailout of the largest bank in the country. India’s economy already has been in freefall for four years and millions have been displaced from jobs, because of our own policies. And now, thanks to politicians in Delhi and other countries desperate for money and eager to curry favor with the world’s richest people, even more will be ruined. It’s hard to imagine a bigger insult to the American spirit.
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