Jobs

Yea, folks in the big city on the hill just don't get it. The business class / middle class, lost most all of its wealth to the upper / polutaclass. What's left they are hanging onto for dear life. The upper class does not create jobs, they export them. The growing reality is that the wealth accumulated by the upper class was based on over-leveraged paper. (spell that, "house of cards.") The wealthy, however do not hold the paper. They have taken outlandish salaries and bonuses and converted their lute into hard currency, solid equities and precious metals, not to mention fast cars, jet planes and fifty foot yachs. There are little or no jobs in those assets, save the equities, but those solid ones are solid by hiring cheap forign labor or exporting/outsourcing manufacturing. So, there you have it, no jobs.

The only way I know that the wealth will get back into circulation is through total disaster ie complete bank failure or other. One crazy idea I had was to forgive all forclosed mortgages. And, for those not forclosed, book to market at the bank as well as the mortgage loan itself. Doing so would reduce all mortgages to the equity level required by banks for a loan. This of course would cause mortgage derivitives to fail taking a lot of fat with it. It would, however, shift a large percentage of upperclass wealth back into the business class where jobs, inovation and competition thrive.

You can't put out a fire with an empty bucket.