Michael Moore's Speech in Wisconsin

Michael Moore gave a speech in front of a large group of protesters in Madison, Wisconsin on March 5th.  Below is our response to his message.

Speech delivered at Wisconsin Capitol in Madison, March 5, 2011

America is not broke.

LET’S START RIGHT HERE AT THE TITLE.  WHY SHOULD WE BELIEVE THIS?  WHAT EVIDENCE, NUMBERS, FORMULAS AND FINANCIAL MODELS DOES HE SHARE TO PROVE HIS POINT.  SHOW THE PEOPLE WHY YOU FEEL AMERICA IS NOT BROKE.  MICHAEL, IF YOUR ASSETS EQUAL YOUR DEBTS, YOU ARE BROKE.  IF YOUR ASSETS ARE HIDDEN UNDER A MOUNTAIN OF DEBT, YOU ARE VERY BROKE.  IF YOU HAVE TO BORROW MONEY TO MAKE YOUR DEBT PAYMENTS, AND BORROW MORE MONEY TO MAKE THOSE NEW DEBT PAYMENTS, YOU ARE BROKE.  THAT IS WHERE AMERICA FINDS ITSELF.  MICHAEL, YOU ARE NOT BROKE, BUT AMERICAN IS DEAD-ASS BROKE MY FRIEND.

Contrary to what those in power would like you to believe so that you'll give up your pension, cut your wages, and settle for the life your great-grandparents had, America is not broke. Not by a long shot. The country is awash in wealth and cash. It's just that it's not in your hands. It has been transferred, in the greatest heist in history, from the workers and consumers to the banks and the portfolios of the uber-rich.

Today just 400 Americans have more wealth than half of all Americans combined.

Let me say that again. 400 obscenely rich people, most of whom benefited in some way from the multi-trillion dollar taxpayer "bailout" of 2008, now have more loot, stock and property than the assets of 155 million Americans combined. If you can't bring yourself to call that a financial coup d'état, then you are simply not being honest about what you know in your heart to be true.

And I can see why. For us to admit that we have let a small group of men abscond with and hoard the bulk of the wealth that runs our economy, would mean that we'd have to accept the humiliating acknowledgment that we have indeed surrendered our precious Democracy to the moneyed elite. Wall Street, the banks and the Fortune 500 now run this Republic -- and, until this past month, the rest of us have felt completely helpless, unable to find a way to do anything about it. 

I have nothing more than a high school degree. But back when I was in school, every student had to take one semester of economics in order to graduate. And here's what I learned: Money doesn't grow on trees. It grows when we make things.  

MONEY DOES NOT GROW, IT IS EARNED.  IT IS NOT EARNED BY HARD WORK ALONE, IT IS EARNED BY HARD WORK THAT PRODUCES RESULTS AND CREATES VALUE.  HARD WORK THAT IS WASTEFUL DOES NOT CREATE VALUE AND THEREFORE SHOULD NOT BE REWARDED.

It grows when we have good jobs with good wages that we use to buy the things we need and thus create more jobs.

BUYING THINGS DOES NOT CREATE MONEY OR JOBS.  SAVINGS AND INVESTMENT CREATES JOBS.   VALUE, AND HENCE MONEY, IS NOT CREATED AT ALL.  MONEY IS TRANSFERRED IN EXCHANGE FOR VALUE.  THE MORE VALUE YOU CAN CREATE, THE MORE MONEY  YOU WILL EARN.  SIMPLY HAVING A PULSE AND WORKING HARD DOES NOT ENTITLE YOU TO EARN A SUBSTANTIAL AMOUNT OF MONEY.  IF YOU WANT MONEY, YOU MUST CREATE VALUE FOR OTHERS.  OUR COUNTRY IS GREAT BECAUSE OF THIS BASIC IDEA WHICH DRIVES EVERYTHING WE DO AND RESULTS IN AN EVER-IMPROVING SOCIETY.

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