[SAMARA]

What is really happening here -

First we have to think about when a speech is delivered who are the audience -
Address at Oglethorpe University, May 22, 1932
President Jacobs, members and friends of Oglethorpe University, and especially you, my fellow members of the Class of 1932

This address was not meant to speak to the diverse population of 2008. In fact, based on age this would reflect 75 years ago, so lets just approx. 60+ years. I say 60+ years cause they were directly affected and their political mentality is shaped through this historical event.

In theis address the following critical points are cited:

1. Four years ago, if you heard and believed the tidings of the time, you could expect to take your place in a society well supplied with material things and could look forward to the not too distant time when you would be living in your own homes, each (if you believed the politicians) with a two-car garage; and, without great effort, would be providing yourselves and your families with all the necessities and amenities of life, and perhaps in addition, assure by your savings their security and your own in the future. Indeed, if you were observant, you would have seen that many of your elders had discovered a still easier road to material success. They had found that once they had accumulated a few dollars they needed only to put them in the proper place and then sit back and read in comfort the hieroglyphics called stock quotations which proclaimed that their wealth was mounting miraculously without any work or effort on their part. Many who were called and who are still pleased to call themselves the leaders of finance celebrated and assured us of an eternal future for this easy-chair mode of living. And to the stimulation of belief in this dazzling chimera were lent not only the voices of some of our public men in high office, but their influence and the material aid of the very instruments of Government which they controlled.

What is this saying? How is it rephrased today?
There began to develop an apparent creation of wealth that was support by men in Government. Today, government is writing a 700 billion dollar bailout for "who you know not what you know" in our economy. What we know is that the people who are financially burdened, as the people during the 1930's are not the wealthy but the poorest of the population.

2. How sadly different is the picture which we see around us today! If only the mirage had vanished, we should not complain, for we should all be better off. But with it have vanished, not only the easy gains of speculation, but much of the savings of thrifty and prudent men and women, put by for their old age and for the education of their children. With these savings has gone, among millions of our fellow citizens, that sense of security to which they have rightly felt they are entitled in a land abundantly endowed with natural resources and with productive facilities to convert them into the necessities of life for all of our population. More calamitous still, there has vanished with the expectation of future security the certainty of today's bread and clothing.

What is this saying? How is it rephrased today?
There was a great loss to these people of opportune wealth. Today, 700 billion dollars is expected to be given to these people of opportune wealth.

3. Some of you--I hope not many--are wondering today how and where you will be able to earn your living a few weeks or a few months hence. Much has been written about the hope of youth. I prefer to emphasize another quality. I hope that you who have spent four years in an institution whose fundamental purpose, I take it, is to train us to pursue truths relentlessly and to look at them courageously, will face the unfortunate state of the world about you with greater clarity of vision than many of your elders.

What is this saying? How is it rephrased today?
The youth of the generation were the answer. Today, the people who were the youth in 1930s are making the decision to spend 700 billion, though first time home owners would not agree that the 700 billion is meant to benefit their need.

4.As you have viewed this world of which you are about to become a more active part, I have no doubt that you have been impressed by its chaos, its lack of plan. Perhaps some of you have used stronger language. And stronger language is justified. Even had you been graduating, instead of matriculating, in these rose-colored days of 1928, you would, I believe, have perceived this condition. For beneath all the happy optimism of those days there existed lack of plan and a great waste.
5. This failure to measure true values and to look ahead extended to almost every industry, every profession, every walk of life. Take, for example, the vocation of higher education itself.
6. If you had been intending to enter the profession of teaching, you would have found that the universities, the colleges, the normal schools of our country were turning out annually far more trained teachers than the schools of the country could possibly use or absorb. You and I know that the number of teachers needed in the Nation is a relatively stable figure, little affected by the depression and capable of fairly accurate estimate in advance with due consideration for our increase in population. And yet, we have continued to add teaching courses, to accept every young man or young woman in those courses without any thought or regard for the law of supply and demand. In the State of New York alone, for example, there are at least seven thousand qualified teachers who are out of work, unable to earn a livelihood in their chosen profession just because nobody had the wit or the forethought to tell them in their younger days that the profession of teaching was gravely oversupplied.
7. Take, again, the profession of the law. Our common sense tells us that we have too many lawyers and that thousands of them, thoroughly trained, are either eking out a bare existence or being compelled to work with their hands, or are turning to some other business in order to keep themselves from becoming objects of charity. The universities, the bar, the courts themselves have done little to bring this situation to the knowledge of young men who are considering entering any one of our multitude of law schools. Here again foresight and planning have been notable for their complete absence.

What is this saying? How is it rephrased today?
As it was in the beginning... there existed lack of plan and a great waste
Where have all the teachers gone? To Wallstreet? Lawyers... Wallstreet Lawyers, or the multiple agencies and commissions filled with politicians overseeing the lack of plan the great waste for the multitude while the few find "their wealth was mounting miraculously without any work or effort on their part"?