For the minds that hold to the ingeniousness of the capitalist system, believing it is a system that brings out the competitive entrepreneur hidden deep within the human spirit; please explain the most recent creation of the new financial underclass.

During the beginning of the millennium, when home loans were being offered to people of lower income, advancing them the opportunity to own a home and create wealth, many neglected to read the fine print, which basically foretold of their own coming financial doom; people were more excited about having that opportunity than they were expectant of the repercussions, but rather choosing to have faith and to trust in an economy that for years worked for the rich and was possibly available to them after all.

The American dream was just a signature away and those people at last, regained hope in the principles of their own country. Not realizing that it was all a ploy designed by the control factor behind the so-called invisible hand of a capitalist free market. Yes, there is officially no such thing as a free market economy, which flushes close to 80 years of economic theory down the drain.

However, there were just as many people who did read the fine print and saw it coming a mile away. It is these people who now have to wait again for the next 100 years for banks to lax lending standards once again.

Before the fall, granted, people were making payments and could actually afford their home mortgage payments; working hard and being financially responsible, but this was not a factor to the banks, they and the sub-prime lenders were determined to bring misery to those same people.

The sub-prime crises revealed the hypocrisy of the American market and proved, beyond a doubt, the poor are nothing more than a tool used to create more wealth for the rich. In the end, investors behind the investors never lost a dime in the sub-prime market and those who are claimed to have lost money, are backed by insurance companies that guarantee they will not sink. The only losers in this economic scam were the borrowers, the trusting and hard working poor of the country.

Reports are now published about the many Black, Hispanic, and low income borrowers who have lost and will continue to lose out because of the burst. Many economic pundits will swear by their economic bibles that it was something no one could have foreseen coming, but this is a lie. There is no way coincidence of this magnitude could have ever been missed by the so-called economic experts, one that would eventually shake the world markets. It was planned and the poor got shafted.

Capitalism kills and has once again created a permanent underclass of poor who will now and for the next 50 years become slaves to the rich. It is an evil lie that benefits the rich at the expense, troubles, and working hands of poor people.

Doom and gloom is predicted for Black Americans, who would have otherwise gained a respect for America and its claim to racial equality and fairness, but we now know that that is a lie and American racism persist. Not only will Blacks distrust America more, but what the capitalist did not anticipate was the fact that all low-income, Black, white, Hispanic and others, will no more see America as a country worth fighting for and many more enemies will rise within its gates.

© Jan. 2008 By CR Hamilton