Reading Reviews #5

Self-Sufficiency?

It goes without saying that Korten is all against Wall Street, as the primary task of his agenda for a new economy is to tear it down, and the main reason is that Wall Street is everything opposite to Main Street which produce real property comparing to the fake, illusionary numbers of whatever counting methods like GDP. I get that Korten speaks for the People, and he means well, but at the same time I also think that he has deep bias toward the home of New York Stock Exchange which blinds him from finding out the upside of Wall Street…

Let’s see what he suggests for ordinary people (the general public from Main Street, as he refers to) to do in order to resist Wall Street.

                      The first step in making a personal contribution to creating

                      the New Economy is to take control of your life and

                      declare your independence from Wall Street by joining

                      the voluntary simplicity movement and cutting back on

                      unnecessary consumption. Beyond that, shop at local

                     independent stores where possible and purchase locally

                     made goods when available. Make the same choices

                     as to where you work and invest to the extent feasible.

                     Do your banking with an independent local community

                      bank or credit union. Pay with cash at local merchants to

                      save them the credit card fee. Pay your credit card balance

                      when due and avoid using your credit card as an

                     open line of credit.

Declare your independence from Wall Street? I really don't think that’s easy. I don't even think that’s possible. Everything is in the chain in which Wall Street stands somewhere at the top with the government. If Wall Street and Washington are collaboratively running a secret government, how would the behaviors of ordinary people help? Not to mention that it is not very realistic to unite the general public in doing something that’s against the human nature like cutting back on consumption and shopping only at local stores. Paying with cash makes our life more inconvenient, and not borrowing from the bank is a variation of stealing from us in forms of assets available and taxes payable. The existence of Wall Street is not merely the plots designed to harm people, but it expediently answers the human nature of a lot of people.

What’s more, because of the operation of Wall Street, although crisis occurs now and then, the U.S. economy stays at the top among the world for a reason. Look at Greece which provides its people with tremendous welfare and holds debts all the time. I’m no expert but it seems to me that they are running on the Main Street schema.