Trickle Up Misery

Whatever happened to the theory that the “subprime” mortgage crisis came about because Barack Obama-trained ACORN thugs pressured banks into lending money to undeserving brown people? Well, it seems the misery has trickled up.

It’s a pattern you can find over and over again in U.S. (and other) history. A problem with the economy hits the poor first, and the poor are blamed for it, but if nothing is done eventually it hits the not-poor, and then it becomes a problem. Most history books will tell you the Great Depression began after the stock market crash of 1929, but the fact is that parts of the U.S. — the poorer parts — had been in an economic hole for a couple of years by then. The Depression didn’t become official until the misery finally hit the upper classes.

In light of our recent arguments in the “Heartless, Clueless” post with Popgun, who refuses to see that allowing the economy to go down the toilet might eventually affect him, I thought this was interesting. I don’t rejoice in their misfortune, but I do wish some people would pay attention to reality instead of keeping their heads wrapped in a gauze of myth and ideology.

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