POLITICS Ron on the Rich, the Poor, and the Middle Class

[Guest guest]

17:45-20:00

RP: People's standard of living is going down. Even people on Social

Security are suffering even with their 2% increases. Because our

government deceives us by saying 'oh, there's no inflation, there's

only 2% inflation.' But yet costs of living for the elderly, those on

fixed income, are having inflation about 8 or 10%. Then we have this

monetary system that goes and tells people who want to save money, you

know, saving is very important in a capitalist society. That's where

capital comes from, not from the Federal Reserve system. So people

who do try and save, if there are elderly who don't want to gamble in

the stock market, which I don't blame them, and they start saving

their money and the Federal Reserve comes in and says 'well you're

only going to get 2 or 3 or 4% on your savings,' they can't keep up.

RP: And a characteristic of the destruction of a currency is the

middle class gets wiped out. And look at the third world nations of

the world. In Central America, even in Mexico, there's a *small*

middle class. And this is what we're talking about today, and they're

talking about this, our middle class being hurt. Low income and

middle class really get hurt.

RP: And in the early stages before there's real chaos, guess what. A

certain class of people get wealthier. There's a transfer of wealth

from the poor to the wealthy. And here just recently at the end of

the year, we had 38 billion dollars of bonuses for companies on Wall

Street. And I have no problems with companies that make money

legitimately without government contracts and without milking the

inflationary system. But the $38 billion is not part of free

enterprise. It's very distorted.