As the Poor Get Poorer, the Rich Retreat

One of the podcasts I subscribe to is BBC's Documentaries podcast. Like 60 Minutes, the stories they cover really open up my mind to a lot of different subject matter that I normally wouldn't delve into on my own, such as the trafficking of children, how people living in the oppressive USSR got a hold of Beatles music in the 60's and the threat of the Yiddish language disappearing.

However, the episode I do want to discuss today is a subject that has become increasingly relevant to us all: the economy. It's supposedly not just the poor people being hurt in this downturn; rich people are feeling the pressure too. The BBC put together a piece called The Rich in Retreat, which is one of my favourite pieces from the BBC to date, regardless of my feelings towards that segment of the population.

The struggles of lower and middle class citizens have been well-documented in the media. For a lot of us, we don't need the media to tell us that things are bad. We can see the effects of the downturn in our everyday lives, whether that's those around us our ourselves who are suffering. But there's another side to the story that the average person would probably detest more than ever: the life of the wealthy in this downturn. The actions of AIG a few months ago didn't help, and the disdain towards the wealthy is more fierce than ever.

This podcast tries to get into the hearts and minds of the wealthy during this crunch. It includes interviews with those who live in the upper-crust, while covering the struggles they go through and the personal greed that ultimately caused this financial crisis in the first place. One of the highlights of this piece is an interview with a multi-millionaire who ended up in jail after being convicted of fraud and tax evasion.

After hearing their stories, do you feel bad for them? Do you hate them even more? Do you think they really understand the problems that the average person is feeling right now?

Give it a listen by clicking on the picture below, and come to your own conclusions. I'd love to hear what you think as well. Drop me a comment on the blog and let's discuss.

Assignment - Rich in Retreat

If you'd like to hear more BBC Documentaries podcasts, you can check out their web page, or subscribe to it on iTunes.


Images from Connect Michigan and the BBC