Mr. Morgan (Letters. “Communist idealists.” Oct. 9) claims that “in third-world economies, where the struggle for food and shelter is a daily routine, the seeds of communism are met with fertile soil.”
After the deregulation of our financial markets led to the subprime mortgage crisis and the collapse of some of our largest financial institutions in 2008, 1 in 7 adults and 1 in 5 kids were living in poverty by 2009. Nearly 1 in 4 children under the age of 6 are below that level, according to the website, www.stateof workingamerica.org.
However, it is easy to see how Mr. Morgan and his Wall Street pals may not be aware of the struggle for shelter and food that millions of Americans live through every day: stock prices are skyrocketing and corporate profits are at an all-time high.
Mr. Morgan’s view of free-market capitalism as a perfect system is rooted in the prosperity of the few while the masses are subjugated to record poverty levels and stagnant wages.
I do think Mr. Morgan is right on one point: The soil is fertile. Enter Bernie Sanders, stage left.