Save the Middle Class

'Too Big to Fail' Is Killing the Middle Class, Celente Says

To read full Yahoo Finance and/or view video of Celente click "Too Big to Fail" above. begin quote below:


---says Gerald Celente, director of the Trends Research Institute. “This country went from a nation of Main Street, mom and pop businesses to Wall Street and 'too big to fails',” he tells Tech Ticker in this clip. ("Not only were they 'too big to fail,' they were 'too big to jail'," he says of Wall Street execs.)

Deregulation and bailouts favor the country’s largest corporations, at the expense of small business, Celente believes. “They’re squeezing out everybody else." Policies like these have created the widest wealth gap in the industrialized world, he says; “10% of the nation controls 93% of the assets."
Former IMF Chief economist Simon Johnson makes a similar point in his book, 13 Bankers. In it, Johnson claims, six banks (Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo) control 60% of America’s gross national product.
The only way to turn the tide, says Celente, is to “put back what was in place that worked,” like the Glass-Steagall Act and the Sherman Antitrust Act, which exists in name only. “That’s what stopped the robber barons from raping the country.”
Celente is confident more regulation on the largest companies will help entrepreneurs, which in turn strengthening a fading middle class – the backbone of our society. “America becomes strong again when the middle builds big again,” he says.
Unfortunately, Celente sees the trend going in the opposite direction. “The merger of state and corporate powers, let’s calls a spade a spade. It’s fascism.” end quotes.

So here we have fascism caused by globalization, the global subprime meltdown etc. Doesn't anyone see that someone or some group may have planned this? Or at the very least took advantage of the situation to the detriment of the middle class and the poor worldwide? Since globalization weakens all nation states, and the subprime meltdown caused mortgage holders worldwide to go underwater as their equity in their houses faded away, what is the way out of this? One way is to somewhat even the playing field for all businesses within the U.S. by bringing back the laws that were needed to keep competition more fair during the 1930s once again. Without new ideas to make worldwide globalization more fair to everyone we are headed for economic times much more serious than the Great Depression here in the U.S. , Europe and Japan at the very least. There has to be a way to save the middle Class all over earth so the poor have some chance of survival too.