The Mom and Pop Predicament
By Catherine Austin Fitts - April 04, 2013

This week's Solari Story from Catherine Austin Fitts is titled "The Mom and Pop Predicament." Here's a bit of the transcript:

I find there's a real effort now to blame Mom and Pop USA for what's happening and it's one of the most frustrating things for me. Yes, I believe that we all need to come clean and take responsibility because certainly everybody in America – it's been pretty easy to know that something was terribly wrong with the federal finances and a lot of us have literally felt that there was nothing we could do and so we've let it go. So I'm not saying let's not take responsibility because I think it's important to take responsibility.

At the same time, I think it's important to understand what's been happening economically and who's been engineering that. So, for example, I was part of a group of people in Washington in the early '90s who took a look at the globalization of the economy and a real effort by the leadership to rebalance the economy globally in a way that would be devastating for the American middle class, and we said, "Okay. Well, this is going to happen. It's very much driven by technology. How can we help the American people jump the curve on this situation?" And so that was a time when a little bit of honest feedback and a little bit of honest transparency could have helped us as a society rise to the challenge of the changes that were before us.

Well, a decision was made that rather than do that. Rather than face facts and help the middle class re-engineer and change, what we would do instead is bubble the economy with a huge amount of debt and have what I call a financial coups d'état. The leadership of the family decided to just steal the money, give everybody a lot of promises and party and then when it's all over say, "Oh, it's all your fault." I think that's a little bit of an oversimplification because if you look at Mom and Pop, what have Mom and Pop been doing? Mom and Pop have been working hard and they've been saving and they've been putting their money in a pension fund, they've been putting their money in the Social Security trust fund and that money's been used by the leadership of the family to move money offshore. So in fact, if anything, Mom and Pop has had their money stolen. …

Please click on the image to view the Solari video:

Share via
Copy link
Powered by Social Snap