This week, when the National Urban League took Nike to task for its $350.00 LeBron X sneaker, it talked about the company being insensitive to the plight of some Americans. Wow, that is beyond a crazy cop-out. I don't get how makers of inanimate objects like guns and sneakers get blamed for the dumb decisions made by actual human beings.
There are a lot of people in the country that can afford $350.00 sneakers, although many got that money by being frugal enough to never buy $350.00 sneakers. Be that as it may, when will this blame game stop? When will people be held to account? I can hardly stand another four years of victimization.
The ultimate goal is to punish success and excuse laziness all in the name of social justice. It will destroy the country. If someone wants what I have, they better be ready to give up things like vacation and lunch breaks. If you want my money, you better be ready to read and learn every single day.
Taking from people that earned to give to others that didn't is the same line of logic as guys sitting in the joint for hitting an old lady over the head with a brick at an ATM. If some mother buys her kid the new Nike sneakers, and they can't pay the rent, she's the bad person. On the flip side, the same people that hate Nike also hate Wal-Mart where sneakers could be bought with enough money to pay the rent and grab a couple bags of groceries. But, this line of thinking is spreading and is becoming more dangerous.
Pew ... Something Stinks
I happen to be a big fan of the work from the Pew Research Center, so I was kind of disheartened when they took the Occupy/White House view of a recent survey on the so-called middle class. In a report titled "Fewer, Poorer, Gloomier ... The Lost Decade of the Middle Class", Pew points out the awful job of turning this economy around, but missed a few silver linings.
Looking at the Pew data, the difference in the so-called middle class now and back in 1971 are ten percentage points. Of that total, 6% are represented in the upper class while only 4% are reflected in the lower class. So, prosperity actually improved the basket of the middle class.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 24th, 2014 | John Ransom
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Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 20th, 2014 | John Ransom