Because it’s the subject that must not be discussed. Lest it raise the demon of popular or political revolt. This outcome was inevitable. But the thirst for greater profit and corporate growth demanded that more and more jobs be outsourced or eliminated altogether. It is still happening today in a bizarre cycle of economic immolation. Listen to the rhetoric coming from Washington DC. We must cut spending and govt (translation: thousands of more jobs eliminated), cut social supports, etc. To save the economy! It’s like a crazed anorexic, no longer satisfied with vomiting to lose weight, who begins lopping off extremities to satisfy a neurosis that is insatiable, irrational and predictably self destructive.

I always knew you were an artist of economics, but I never knew how economical an artist you were. Beautiful graphic!

Chris

PS: Good points, too, by the way.

There’s been lots of criticism for the failure of the Bush administration to take advantage of the large budget surpluses they inherited and put the country in a better position to handle an economic downturn (see Ron Suskind’s book on Paul O’Neil – for some great insight into how close we actually came to getting this right & who stood in the way). But no one wants to discuss the fact that most all of the money is still there – its been saved by the wealthy and only added to both the national debt & the wealth concentration problems simultaneously. Who gains by our refusal to discuss this? Certainly not the “majority” of Americans.

We need to find a way to tie the acquisition and maintenance of enormous amounts of wealth to the success of our country as whole and not let it continue unimpeded to the detriment of the country. Buffet is simply trying to preempt the backlash that’s bound to occur when the American public finally figures out the true magnitude and implications of what’s gone on here.