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“I HAD WRITTEN THE FIRST PART of the forecast in mid-September, before the crisis hit. Since then, everything has changed — or perhaps we could say it’s the same, only more so. The economy is making a (big) much-needed correction. Since the 1980, we’ve been working under a deregulation philosophy: Let the market do what it will and the wealth will trickle down to the masses. The problem with the “trickle-down” theory is that it doesn’t work; what happens is what has happened throughout history under similar circumstances — the wealth goes up the chimney to the top rung of the economic ladder. The giant whooshing sound is what you hear when all the wealth being squeezed out of the workers to be enjoyed by those at the top…”
Read the rest - Terry Lamb