(no subject)

"CNBC would like us to take note of "The Human Toll of Madoff Scandal," suggesting that because his multi-millionaire and billionaire investors each lost millions of dollars, that their suffering was somehow greater than that to be experienced by ordinary people who will have to account for the trillions of dollars expended by the state. If the government's bailouts and warring expenses should total $6 trillion - a figure lower than many have estimated - and given a current U.S. population of 300 million persons, these scams will cost the average individual some $20,000. For a family of four, the total bill - whether in the form of increased taxation or inflation - will come to $80,000. Bear in mind that wealth is a relative term - e.g., a family with a net worth of $200,000 will likely be harder hit by this $80,000 expense, than will a a family with a net worth of $100,000,000 by their investment loss of $1,000,000. It is interesting that the suffering experienced by individuals - whether at the hands of the state or private investment gurus - doesn't seem to merit an inquiry into "the human toll" until the super-rich are affected. Perhaps the Madoff victims will be the next group to be bailed out by the rest of us.

Ahhhh, the continuing struggle to make the world safe for plutocracy!"
- Butler Shaffer