WDEL Blog: Allan Loudell

Do the Rich really have reason to be paranoid?

By some accounts, America's super-wealthy feel they're under siege, whether from New York City's new Mayor de Blasio, President Obama & the Democrats, or from Pope Francis.

Indeed, the co-founder of the Silicon Valley venture capital firm Kleiner Perkins - Thomas Perkins - posted a letter to The WALL STREET JOURNAL in which he feared a progressive "Kristallnacht". Really?

If so, then America's poor should have feared the same, because politicians have capitalized on middle-class fears about the poor for literally generations, castigating them as "welfare queens", etc. That's how we ended up with these draconian, one-sentence-fits-all drug laws, guaranteed to fill our prisons to the seams.

Check out this article from POLITICO, "Why the Rich are freaking out"...


Posted at 9:34am on January 30, 2014 by Allan Loudell

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Comments on this post:

Thu, Jan 30, 2014 9:45am
Awww, poor rich people. My heart bleeds.

I see zero evidence in that article for dubious assertion that the rich are worried. Actually, raising the possibility to a wider audience seems to dispel the possibility. Notice how the Occupy movement seems to have disappeared without a trace.

The rich and powerful in the US got rich and power (they or their grandparents did) by knowing how to market products - and ideas. They know that letting people bitch usually removes the threat of people actually doing anything (something dictators have failed to learn). Unless it's really bad, in which case a token, cosmetic government program will solve the problem. You don't have actually to have a program, just talk about one (like Obama is doing).

Funny how compliant the media are in all this. It's almost like they work for the rich. Oh, wait! They do.

Thu, Jan 30, 2014 6:00pm
Once again, Bill is making a lot of sense.

Also, you're right about the free lunch for the banks. That's what's been happening with the fed stimulus money. The government prints and the banks instead of loaning it out put it into the stock market.

Of course, you can't loan money out when people ain't borrowing.

Mike from Delaware
Fri, Jan 31, 2014 8:25am
Billsmith and Mrpizza: Both well said, I totally agree.

Interesting thing I learned from reading Dan Rather's book "Rather Outspoken". The things he and CBS News reported about Bush Jr. and his National Guard service, or lack of service, are true and factual. CBS, no longer the stand-alone corporation of the Murrow and Cronkite days, is today owned by Viacom, who's CEO, he later found out, is a staunch Republican. It does seem to explain why the network didn't support him as the network had done numerous other times in Rather's stellar career, and as CBS did for both Cronkite and Murrow, and a host of other CBS reporters for many years, sort of their trademark. It's an interesting book.

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