For the first time in a generation, most major U.S. business sectors are donating more campaign money to Democrats than to Republicans, according to a political fund-raising watchdog group.
Though some on Wall Street believe that McCain's economic philosophy would be better, the money and support is going to Obama.
Perhaps Wall Street is finally waking up ... that it's success in the last 30 years has largely been the feast of cannibals. We've ransacked the economy, lived on borrowed money, made the wealthy wealthier, weakened the dollar, threating the middle class with extinction.
Surely calmer heads and smarter economists must realize that we're headed for disaster, and that sound economic principles of taxation and government regulation create and sustain a middle class.
Because the middle class, the source of a robust economy, is an artificial construct.
Left to itself, an economy follows the same pathway, creating a thin layer of super-wealth, a very thin layer just below that (the remnants of a middle class) and the rest, struggling to hang on - in other words, a serf class.
Unregulated economies look good at first (post-FDR Nixon-Reagan economics), and for awhile, lots of folks ride the wealth-wave, but ultimately, it collapses. The super-wealthy are well-enough insulated to ignore it, and only those with some kind of a conscience will see the plight of the masses.
The simple truth: there's enough for everyone. Enough for the wealthy to be wealthy, the middle class to be prosperous and confident, and the poor to have a shot at bettering their status, but it requires management and cooperation between government and business.
Using a Biblical phrase: He that gathered much did not have too much, and he that gathered little did not have too little.
