Lehman Brothers fails and Merrill Lynch becomes part of Bank of America, which soon will be called, The Only Bank in America, and the Federal Reserve "loosens" guidelines on loans to banks clearly not having learned any lessons through the subprime crisis, I have to wonder: How are we different than China?
I sincerely believe in fifty years, people will look back at the rise of the middle class in China and the demise of it in America and see parallels so simple it'll be taught in elementary schools.
Are our working standards oh so much better than China's? I would argue, considering the level of wealth in this country, no. While very serious human rights abuses happen in China, especially in rural areas, I look to our own middle class and see people working 50, 60 hours a week at jobs once touted as "9 to 5."
We have one bank. "Private" corporations get to do whatever they want as long as they pay the government it's piece of the action, also known as lobbyists. People in positions of power do well. People blocked from access to that power remain stuck in the previous century's economic opportunities.
We'll look so ridiculous in the history books, banging out Patriot Act chests saying "But we have FREEDOM."