has deliberately inflated asset valuations over the past 40 years. This has resulted in assets such as stocks and real estate being valued far in excess of what the real economy could support or sustain. The RepubliCON backers of this Ponzi scheme were its prime beneficiaries, because they were the first in and RepubliCON policies helped them to benefit greatly as this asset inflation progressed. Tax cuts for the wealthy, farm subsidies and mortgage interest deductibility are all policies that are skewed VERY heavily to wealthy RepubliCONs. When they became concerned that they would have difficulty cashing in, further programs were undertaken to smooth the transition. Lax mortgage rules, large deficits and ethanol subsidies kept their friends in the money.

When the smoke has cleared, it will become apparent that the real losers were the average Americans who were the last in. The wealthy have "diversified" into government paper and are now well placed to ride out the storm. The trillions of dollars in "bailouts" have helped them do this. Asset values will continue to tank but they have got enough out to prosper again.

Hey SLOWrence,

Where do you get the ignorant notion that the wealthy are all Republicans? Ever look at the election map? There are many blue states in the middle of the country and there aren't many wealthy there. (Unlike NY and California)

Ever hear of Hollywood, Al Gore, Warren Buffet, Google, Trial Lawyers? Etc.

Newsflash - the wealthy reside on both sides of the aisle.

Class warfare - Nice. THAT's the problem. Who are YOU to determine that they should pay more than everybody else?

"Class warfare - Nice. THAT's the problem. Who are YOU to determine that they should pay more than everybody else?"

And who are YOU to determine that they should have more than everybody else? Society, at least in democratic countries, is a joint venture.

???

There's alot of socialist/communist countries in the world, Phil.

Why are trying to convert the one with greatest respect for private property and limited gov't into another one of those failures? Why don't you just go live there?

"Why don't you just go live there?"

It's been quite a while since I last heard that kind of childish taunt. You're capable of better.

Why don't you?

Because it is more appealing to me to stay in place and try to change what we have here. That, after all, is what democracy is all about: the populace has the power to change the rules.

Dts: Class warfare - Nice. THAT's the problem. Who are YOU to determine that they should pay more than everybody else?

LeRoy: The ugly but simple truth is that the ultra-wealthy in this country have been waging class warfare on the American middle class since the time of Reagan, and their warfare intensified dramatically under the current administration. It is one of the major reasons why we are seeing the largest gaps in income and wealth since, well, 1929. [A foreboding year, that 1929.]

What you are arguing is that the middle class should not fight back! Evidently you think we should just surrender.

But what would the terms of surrender be? Will we at least get a bowl of porridge every day?

Read almost any of the recent books by Kevin Phillips (the Republican renegade) for documentation of the class warfare that the rich have been waging against the poor and the middle class.

Not really. The constitution was very specific about limiting the powers of federal govt to protect the people from the tyranny of the masses. Which is what you seem to be advocating.

It's not an elementary question. I moved from NY to California because NY was too socialist. Now California is becoming more and more that way itself so I am rethinking my long term plans.

You can't smoke OUTDOORS in certain southern california cities. A mind boggling LIBERAL idea, especially when you consider that these same cities have 8 lane freeways running through them with 10's of 1,000's of cars putting out pollution everyday. But you can't light up a tiny cigarette.

That's how absurd liberal thinking is.

Why try to change it when those places already exist all over the world?? This place is special and unique because it's NOT that way and you want to ruin it.

I moved from NY to California because NY was too cold. It may have been before you were born. California, at that time, was probably more liberal than it is now. I, on the other hand, was more conservative than I am now.

Since I haven't smoked since 1975, I don't pay much attention to where you can and can't smoke. I assume that in those areas where there is a high fire hazard (which, as you know, is in a lot of places at this time of year) smoking would be banned as a safety, rather than a health, measure. Since we have a lot of outdoor restaurants I would understand if smoking was banned there too. Likewise, sports and concert stadiums since, if the probably 1/3 of the attendees got to smoke, it would create a rather unpleasant environment. I would probably include beaches since stepping on a still smouldering butt barefoot would be a distinctly unpleasant experience. My former right wing boss (he was giving away a stack of "None Dare Call It Treason" paperbacks many years ago) used to repeat the old saw about his freedom to swing his fist ended at the tip of my nose. I would say that cigarette smoke would be expected to follow the same rule as fists.

I feel sort of sorry for Kevin Phillips, whom I believe would like to be an Eisenhower era Republican (as I was), but they just won't let him.

Have you read Jeff Faux's book "The Global Class War"? I found it quite interesting and well documented.

Best damned Republican there ever was. It is an extinct breed, seemingly.

Oddly enough, I have never seen the Jeff Faux book at Barnes & Noble. A case of corporate censorship, perhaps? And I have looked for it, as I have seen you and others mention it several times. Although I have cut way back on my book purchases, I would probably buy that one.

I remember from back in the 60s counter-culture days, when the radical Abbie Hoffman penned a tome titled Steal This Book!

Many bookstores refused to carry it....

Odd about B&N. I just searched there and found the book. The full title, incidentally, is "The Global Class War: How America's Bipartisan Elite Lost Our Future - and What It Will Take to Win it Back". I did notice that, in listing the title, they left out the initial "The", although it does appear on the photo of the cover included with the listing.

On another issue: I see Hoffman's book listed at several sources. Maybe being dead for a long time makes you less threatening.