
hubpages.com America spends as much as every other country combined on their defense, yet the American people continue to suffer without jobs and hope. With Wall Street receiving record bonuses, what can be done? It is the time of year when millions of Americans are celebrating the holiday season with their families. However, many of them are doing so without a job and as unemployment continues to rise, it does not look like the New Year will be met with much optimism. Many Americans fear a double dip recession due to the amount of unemployment coupled with falling housing prices that make for a weak economy. On the flip side, there are many Americans who are doing very well for themselves and in the process are earning record profits and will live in luxury this holiday season. Wall Street tycoons, who received billions in a taxpayer bailout that pulled them out of bankruptcy, are experiencing historic profits and shelling out ridiculous bonuses. Many in the media were playing up the fear of allowing the banks to fail and creating a mindset that what is good for Wall Street will be good for the rest of America. But Professor and Economist Michael Hudson disagrees. He says, "This poverty and this crisis is not built into the universe, it doesn't have to be this way but it's that way because the press and the media are not telling people that there is another alternative, put main street before Wall Street, it seems simple enough". America has continued to bail out banks <b>...</b>
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