A Second American Revolution?
Trina L.C. Sonnenberg
In the United States today, the low and middle income population out numbers the rich by a huge margin. Only 2% of the population holds 98% of the cash and that is no trifle number. In fact, that fact has become a favorite sales pitch and topic that self development gurus have been teaching their pupils for a long time. It is one of the truths that people studying the law of attraction are made aware of right away. It is a staggering fact and it got me to thinking. Yes, I've been know to do that from time to time.
What would happen if the 98% of the people who have not just decided to stand up and say I'm not going to take it anymore?
What if they revolted by refusing to pay their mortgages, credit card or even taxes?
Although no longer viewed as a legal document, the Declaration of Independence clearly states that at any time the people no longer feel that the government is not looking out for the best interest of all the people, not just the wealthy 2%, that the people can and have the right to overthrow the government.
What would happen if people revolted against the banks by refusing to pay them?
What would happen? It's not like the government could throw millions of people in prison, or repossess everyone's home. I'd like to see them try to evict a supporter of the second amendment right to bear arms. We have the right to bear arms to protect our property. Ask Uncle Ted (Ted Nugent).
Really, what would happen if 98% of the American populous just stood together and said, "I'm not going to take it anymore!"
There is no love for big banks, except that felt by the 2% that control them. You's think that after decades of skyrocketing interest rates, unbridled fees, exported jobs, low wages and unscrupulous banking practices, that the disenfranchised people of this country would be able to collectively exert some pressure for change. It has worked historically in other cultures dating back to before the Roman Empire. It worked before, but would it work today?
Think about a world where people paid their rent and utilities and nothing more. Big banks would lose control of our government if people just refused to pay. They'd have no money with which to pay off politicians. Multi-million dollar election campaigns would become a thing of the past.
How would they evict people from their homes for lack of payment, on such a grand scale; especially if people started answering their doors with a shotgun in hand.
Does the government truly protect us now? I don't think so. They protect corporate interests, not those of the people. Remember, our public officials are among that 2%. They are not part of the 98% who struggle daily to feed their kids. They are not the people who get laid off from their jobs, because of the economic slump caused by these too big to fail banks.
Think of it like this... In all the years that a person makes their mortgage payments, they have probably already paid off their loan, but on paper they've only been paying interest. Is that fair? I don't think so.
In my own experience, I borrowed $108,000 for my house at a ridiculous interest rate. Over a five year period I've made more than $25,000 worth of payments, but my principle balance has come down by a mere $5,000. Does that sound like a fair deal? While paying bills the other day, I noticed that my interest rate on credit cards has jumped to 27.9%. That is crazy. I have no problem with any business making money, but this is obscene.
Here is another example: I borrowed $150,000 to build a new house. I have made $90,000 in payments but my balance has come down by only $10,000. If it weren't for the interest my loan would be more than half paid off by this point, but I still have 10 years left to pay. By the time I finish paying this note, I will have made $270,000 in payments on a $150,000 loan. That is a $120,000 profit for the bank. By the time I am done paying for my $108,000 mortgage, I'll have paid $284,000. That is a profit of $176,000 for the lender. The biggest problem with the lending formula is that the borrower pays the interest first. Regarding the first loan I mentioned, I paid $800 every month and it took five years before $100 of that payment went to principle. That means that for all those years, more than 90% of my payment went to interest alone. That is fundamentally wrong, and that is why the rich get richer off the effort of the poor/middle class. The middle class is not growing, it is shrinking to become the new lower class. Very few middle class citizens will ever become wealthy under this system, and more people will become poor.
Every American has the right to own their own home. Rather than giving billions of dollars to the banks that were double dealing, the government would have been better in serving the people if they had forced these banks to take the loss they created by forgiving mortgages for the lower class of citizens. These too big to fail banks didn't deserve the money, the people did. Those bailouts helped no one but the corporations that got them. The same entities that caused the melt down in the first place.Remember the American Dream? What happened to that? The banks have the people in a strangle hold. We want you to spend beyond your means but we won't lend you any money to do it unless you're willing to pay through the nose to get it.
Many people's credit scores went into the toilet, through no fault of their own, but now the banks are punishing them for it. The 2% set up the 98% to fail. And it is still happening. Interest rates on credit cards continue to climb, and Joe tax payer is starving to death trying to make his payments. Joe bank executive goes on vacation, buys expensive toys and puts his kids through college without batting an eye.
So, what would happen if 29,000,000 people simply refused to pay? That is 98% of 300,000,000 people. I'd say that the 98% has clout they aren't even aware of.
Copyright © 2010
The Trii-Zine Ezine
About the Author:
Trina L.C. Sonnenberg
Publisher - The Trii-Zine Ezine - Your Trusted Source for Internet Business and Marketing Information. EST 2001. ISSN# 1555-2276
Author of: My Journey A Lifetime of Verse, ISBN: 978-0-61516405-2
Forever and Always... A True Love Story ISBN: 978-0-567-4311-3
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