The Hightower Report

Don't blame Wall Street – you're just not spending fast enough

Going Broke? Look in the Mirror!

You know what's wrong with the American economy, Bucko? You, that's what.

Yeah, yeah, it's true that the reckless global gambling schemes of Wall Street bankers are what wrecked our economy – and, yes, Congress and the Federal Reserve have used trillions of our public dollars to bail out miscreant bankers while ignoring the plight of people like you, whose jobs, businesses, homes, and middle-class incomes have been devastated by banker greed. And, sure, it's also true that corporations are hoarding $2 trillion in cash and getting billions of dollars a year in subsidies from taxpayers like you, yet refusing to hire Americans or make job-creating investments in our country.

But this does not excuse your refusal to do your duty as an American consumer. CEOs say that they won't start hiring until you consumer slugs get out there and spend, spend, spend. Fed Chair Ben Bernanke says he has looked at macroeconomic statistics and concluded that you're being irrationally negative about the health of our economy, suggesting that your lack of confidence in the economy is a psychosis that's fueling a larger depression.

So, hey – perk up, America! Stop waiting on Wall Street, Washington, and corporate chieftains to do something. Forget economic reality – just pull our your credit cards, put on a smile, and march to the mall.

Wow, I can't tell you how much more confidence I have in the future health of our economy knowing that America's corporate and political leaders are so insightful and in touch. How about you?


For more information on Jim Hightower's work – and to subscribe to his award-winning monthly newsletter, "The Hightower Lowdown" – visit www.jimhightower.com. You can hear his radio commentaries on KOOP Radio 91.7FM, weekdays at 10:58am and 12:58pm.

For more information on Jim Hightower's work – and to subscribe to his award-winning monthly newsletter, The Hightower Lowdown – visit www.jimhightower.com. You can hear his radio commentaries on KOOP Radio, 91.7FM, weekdays at 10:58am and 12:58pm.

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KEYWORDS FOR THIS STORY

economy, recession, Ben Bernanke, bailouts

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