So large profits are reaped by somebody, and that is where the $13 trillion has been accumulated, a $10 trillion increase over the last 10 years. That is obscene when we look at the fact that 40 million people are not covered with any kind of health care and we are nickel and diming our education system in terms of support from the Federal Government, and on and on it goes. Mr. Greenspan insulted all working people previously by saying that unemployment is good for the economy, and the last thing we wanted was to have full employment. It is ridiculous to allow these icons to go on unchallenged, but as the gentlewoman and I know, we are lucky that lightning has not come down and struck both of us for criticizing Mr. Greenspan. The power structure wants Mr. Greenspan. The President keeps reappointing Mr. Greenspan, the majority of Republicans want Mr. Greenspan. Mr. Greenspan is no friend of working families, and there is a philosophy, and a lot of people in decision-making positions who are not friends of working families. We are missing a golden opportunity in America to have the working families share the prosperity, and it would be good for the entire country to have them share it.
Burgess Owens: “So large profits are reaped by somebody, and that is where the $13 trillion has been accumulated, a $10 trillion…”
Editor's note · Context
Addressing economic inequality and the impact of Federal Reserve policies on working families.
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