How do we eliminate the paradox of poverty & privation amid plenty & abundance?

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Offline Geolibertarian

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More Bad News: 10 Things You Should Know About The Latest Economic Numbers
« Reply #80 on: October 09, 2010, 09:58:53 AM »
http://www.prisonplanet.com/more-bad-news-10-things-you-should-know-about-the-latest-economic-numbers.html

More Bad News: 10 Things You Should Know About The Latest Economic Numbers

The Economic Collapse
Oct 9, 2010

On Friday, headlines across the United States declared that “unemployment remains unchanged at 9.6%”. Many analysts rejoiced and heralded this announcement as a sign that we have hit bottom and that things will be turning around soon. But is that the truth? A closer look at the unemployment numbers reveals some disturbing facts. For example, according to the Bureau of Labor Statistics, a broader measure of unemployment that includes workers that have stopped looking for work rose sharply to 17.1%. But that is not the only troubling sign from this past week. Agricultural commodities continue to skyrocket, which means that food price increases are on the way. The foreclosure ”robo-signing” crisis continues to escalate, and that threatens to throw the entire mortgage industry into a state of absolute turmoil. Meanwhile, the U.S. national debt continues to grow and wealth continues to leave the United States at a dizzying rate.

So is there reason for optimism?

No, not really.

Even if the unemployment numbers had improved slightly, the longer-term trends for unemployment are extremely troubling as you will see from the statistics and the chart below.

At the same time when so many Americans are out of work or can barely get by on what they are currently making, there is every indication that prices are about to go up. Wheat, corn and soybeans all jumped in price on Friday, and it is inevitable that at some point these price increases will be passed on to consumers. And if that wasn’t bad enough, now some Federal Reserve officials are actually talking about purposely generating more inflation in order to “stimulate” the U.S. economy.

Meanwhile, this “robo-signing” foreclosure crisis threatens to escalate totally out of control. Will we soon see thousands of court cases popping up from coast to coast challenging the legitimacy of foreclosure paperwork? Will title insurers start totally backing off from foreclosed properties? Banks were already completely overwhelmed trying to process the massive backlog of foreclosures. Is this going to make the situation a whole lot worse?

The truth is that more bad news for the U.S. economy comes out almost daily now. The following are 10 things that you need to know about the latest economic numbers….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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http://www.prisonplanet.com/10-reasons-why-ordinary-hard-working-americans-are-about-to-really-start-feeling-the-squeeze.html

10 Reasons Why Ordinary Hard-Working Americans Are About To Really Start Feeling The Squeeze

The Economic Collapse
Oct 12, 2010

American families better get ready to tighten their belts again.  There is every indication that we are all going to really start feeling the squeeze in the months ahead.  The price of gas is starting to spike again.  The price of food is moving north.  Health insurance premium increases are being announced coast to coast and a whole slate of tax increases is scheduled to go into effect in 2011.  Meanwhile, household incomes are down substantially all over the nation and the U.S. government is indicating that there will not be an increase in Social Security benefits for the upcoming year once again.  So if the cost of most of the basic things in our monthly budgets is going up and our incomes are going down what does that mean?  It means that average American families are about to be squeezed like nothing we have seen in decades.

The reality is that it is getting really hard to make it out there.  Not only do most households have both parents working, but in many cases both parents are getting second or even third jobs.  Things have gotten so bad that millions of Americans have felt forced to turn to the government for assistance just to survive.

It can be really disheartening to come to the end of the month and realize that despite your best efforts you have less money than you did at the beginning of the month.  But that is where millions upon millions of American families now find themselves.

The economic despair in the air is almost palpable.  Already hordes of Americans are truly and honestly hurting and things are only going to get worse.

The following are ten reasons why ordinary hard-working Americans are about to really start feeling the squeeze….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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24 Statistics About The U.S. Economy That Are Almost Too Embarrassing To Admit
« Reply #82 on: October 13, 2010, 01:46:11 PM »
http://www.prisonplanet.com/is-america-in-decline-24-statistics-about-the-united-states-economy-that-are-almost-too-embarrassing-to-admit.html

Is America In Decline? 24 Statistics About The United States Economy That Are Almost Too Embarrassing To Admit

The Economic Collapse
Oct 13, 2010

Does anyone really want to hear that America is in decline?  For decades, most of us have been raised to believe that the United States is “number one” and that anyone who doubts that fact is a “gloom and doomer” that should just pack up and move to “Russia” or “Iraq” or some other country where things are not nearly as good.  But does it do us or future generations any good to ignore the very serious signs of trouble that are erupting all around us?  The truth is that it is about time to wake up and admit how much trouble we are actually in.  The U.S. government is absolutely drowning in debt.  The entire society is absolutely drowning in debt.  We are being slaughtered in the arena of world trade, and every single month tens of billions of dollars (along with large numbers of factories and jobs) leave our shores for good.  Our infrastructure is failing, our kids are less educated and our incomes are going down.  We have serious, serious problems.  At one time, the U.S. economy was so dominant that it was not even worth talking about who was in second place.  That is no longer the case in 2010.  Our forefathers handed us the greatest economic machine in history and we have allowed it to fall apart right in front of our eyes.  A national economic crisis of historic proportions is getting worse with each passing month, and yet most of our leaders seem to be asleep at the switch. 

So is American in decline?  Well, read the statistics below and decide for yourself.  The reality is that when you start connecting the dots it gets really hard to deny what is going on.

Urgent action must be taken if things are going to be turned around.  It is time to get our heads out of the sand.  It is not guaranteed that the United States will always be the greatest economy in the world or that we will even continue to be prosperous.

For many Americans, it will be incredibly difficult to admit that our nation has become a debt addict and an economic punching bag for the rest of the world.

But if we are never willing to admit what the problems are, how are we ever going to come up with the solutions?

What you are about to read below is going to absolutely shock many of you.  But hopefully it will shock you enough to get you to take action.  We desperately need to change course as a nation.

The following are 24 statistics about the United States economy that are almost too embarrassing to admit….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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The Real Horror Story: The U.S. Economic Meltdown
« Reply #83 on: October 15, 2010, 01:42:07 PM »
http://www.prisonplanet.com/the-real-horror-story-the-u-s-economic-meltdown.html

The Real Horror Story: The U.S. Economic Meltdown

The Economic Collapse
Oct 15, 2010

This October, millions of Americans are going to watch horror movies and read horror stories because they enjoy being frightened. Well, if you really want to be scared, you should just check out the real horror story unfolding right before our eyes – the U.S. economic meltdown. It seems like more bad news for the U.S. economy comes out almost every single day now. Unfortunately, things are about to get a whole lot worse. The mainstream media has been treating “Foreclosuregate” as if it is a minor nuisance, but the truth is that the lid is about to be publicly lifted on years and years of massive fraud in the U.S. mortgage industry, and this thing has the potential to cause economic chaos that is absolutely unprecedented. Over the past several days, expert after expert has been coming forward and warning that this crisis could completely and totally paralyze the mortgage industry in the United States. If that happens, it will be essentially like pulling the plug on the U.S. economic recovery.

Not that there was going to be a recovery anyway. The truth is that economic statistic after economic statistic has been pointing to incredible trouble for the U.S. economy.

For example, the U.S. government just announced that the U.S. trade deficit went up again in August. According to the U.S. Census Bureau, the U.S. trade deficit was $46.3 billion [.pdf] during August, which was up significantly from $42.6 billion in July.

So how much coverage did this get in the mainstream media?

Well, just about none.

We have gotten so used to horrific trade deficits that it isn’t even news anymore.

But these trade deficits are absolutely killing our economy.

How long do you think that the U.S. economy can keep shelling out 40 or 50 billion more dollars than we take in every single month?

If you look at the countries around the world that have become very wealthy, almost all of them have gotten that way by trading with the United States.

Meanwhile, many of our once great manufacturing cities are turning into open sewers.

Every single politician in the United States should be talking about the trade deficit.

But hardly any of them are.

Is it because Americans have all become so dumbed-down that we don’t understand these things anymore, or is it because we are so distracted by the various forms of entertainment that we are addicted to that we just don’t care?

But the trade deficit is not the only economic statistic that is getting worse.

According to the Department of Labor, for the week ending October 9th the advance figure for seasonally adjusted initial jobless claims was 462,000, which represented an increase of 13,000 from the previous week.

We have an unemployment epidemic going on in this country, but what did the mainstream media do in response to this news?

They yawned. Instead, many of the “financial experts” were busy talking about how wonderful it is that the Stock Market is going up, up, up.

Well, as one reader recently reminded me, if you want to evaluate an economy by how much the stock market is going up, then the economy of Zimbabwe has had an absolutely wonderful decade!

The truth is that the stock market is not a good barometer for what is actually going on.

What is really happening is that the U.S. economic system is literally coming apart at the seams.

Yet another piece of really bad economic news that just came out is that the number of home repossessions by banks set a new all-time record during the month of September. The record total of 102,134 bank repossessions was the first time ever that bank repossessions climbed over the 100,000 mark for a single month.

The good news is that bank repossessions are about to come to a screeching halt.

The bad news is that it is because the U.S. mortgage industry is about to become completely and totally paralyzed by this foreclosure fraud crisis.

The following are three basic points to remember about this foreclosure mess….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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How the parasitic ruling class will be sucking even more lifeblood out of us
« Reply #84 on: October 23, 2010, 11:22:37 AM »
http://www.prisonplanet.com/75-ways-that-the-government-and-the-financial-elite-will-be-sucking-even-more-of-the-life-blood-out-of-the-american-people-in-2011.html

75 Ways That The Government And The Financial Elite Will Be Sucking Even More Of The Life Blood Out Of The American People In 2011

The Economic Collapse
Oct 22, 2010

The American people are experiencing financial death by a thousand cuts and most of them don’t even realize it. The U.S. government, state governments, local governments and the financial elite are draining us financially in dozens upon dozens of different ways, and yet we have become so programmed to accept it that it just seems normal to us. 2011 is rapidly approaching, and a whole slate of federal taxes is scheduled to go up, state taxes are being increased from coast to coast, local governments are finding new and creative ways to stick it to us and the financial elite are becoming more predatory than ever. Meanwhile, the incomes of many average Americans are actually going down. According to the Census Bureau’s annual survey of income and poverty in the United States, of the 52 largest metro areas in the nation, only the city of San Antonio did not see a decline in median household income during 2009. Tens of millions of Americans are flat broke and they are getting pissed off. According to a new poll conducted by CNBC, 92 percent of Americans believe that the U.S. economy is either “fair” or “poor”. The American people desperately want someone to fix the economy, but instead our “leaders” are trying to come up with new and creative ways to drain even more money out of us.

In no particular order, the following are 75 ways that the U.S. government, state governments, local governments and the financial elite will be sucking even more of the life blood out of the American people in 2011….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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30 Reasons Why People Should Be Getting Really Nervous About The U.S. Economy
« Reply #85 on: October 27, 2010, 01:50:20 PM »
http://www.prisonplanet.com/30-reasons-why-people-should-be-getting-really-nervous-about-the-state-of-the-u-s-economy.html

30 Reasons Why People Should Be Getting Really Nervous About The State Of The U.S. Economy

The Economic Collapse
Oct 27, 2010

The mainstream media is full of happy economic news these days.  The S&P 500 has shot up 16 percent since the beginning of July.  Ford Motor Company just reported a profit that jumped nearly 70 percent in the third quarter.  It was Ford’s best third quarter performance ever and it was the 6th quarterly profit in a row for the company.  Other major firms have announced earnings that have far exceeded expectations in recent weeks.  Hooray!  The pundits are proclaiming that the economic collapse is over and that the U.S. economy has won.  It is almost enough to make one tear into a stirring rendition of “Happy Days Are Here Again”.  But perhaps we should take a moment and get a hold of ourselves first.  After all, the underlying economic fundamentals have not changed.  The same long-term trends that were ripping the U.S. financial system apart a month or two ago are still continuing to do so.  Millions upon millions of American families are still deeply suffering.  So exactly what in the world is going on here?  Well, this is what is known as a “sucker’s rally”.  Those on the inside know better than to throw money at this market.  In fact, corporate insiders are now selling off stock so fast you would think it is going out of style.  Meanwhile, hordes of innocent rubes are jumping back into the stock market thinking that it is the perfect time to get in.

The truth is that these “good times” are only temporary.  Don’t get used to them.  The following are 30 reasons why people should be getting really, really nervous about the state of the U.S. economy….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline freedom_commonsense

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London Mayor Labels Government Austerity Plan A "Kosovo-Style Social Cleansing" Of City

Business Insider
Oct. 28, 2010


London's Conservative Mayor, Boris Johnson, has launched an attack on the country's plan to cut housing benefits.

Johnson called Prime Minister Cameron's plans a "Kosovo-style social cleansing" of the city when speaking to the BBC this morning.

The planned cuts could force 200,000 Londoners to leave the city due to the high cost of living.

..continued at link above...

Offline Geolibertarian

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The Calm Before The Storm
« Reply #87 on: November 01, 2010, 10:56:03 AM »
http://www.prisonplanet.com/the-calm-before-the-storm.html

The Calm Before The Storm

The Economic Collapse
Nov 1, 2010

An eerie calm has descended upon world financial markets as they await perhaps the two most important financial events of the year this week. On Tuesday, investors will be eagerly awaiting the results of one of the most anticipated midterm elections in U.S. history. On Wednesday, the Federal Reserve is expected to end months of speculation by formally announcing the details of a new round of quantitative easing. If either the election or the meeting of the Federal Reserve open market committee delivers a highly unexpected result, it could have a dramatic impact on world financial markets. In fact, many are looking at this week as a potential turning point for the U.S. economy. The decisions that are made or not made this week could set us down a road from which the U.S. economy may never recover.

At this point, it looks like the Republicans will take control of the U.S. House of Representatives and will pick up a number of U.S. Senate seats as well.

There are many in the financial world who already consider Barack Obama to be the most “anti-business” president in U.S. history, so a defeat for the Democrats on Tuesday would be greatly welcomed by many on Wall Street. Barack Obama’s decline in popularity since he was elected has been absolutely stunning. According to Gallup, Barack Obama had an average approval rating of just 44.7% during the seventh quarter of his presidency, which was a brand new low. In fact, Obama’s average approval rating has fallen during every single quarter since he took office. Things have gotten so bad for Obama that one new poll has found that 47% of Democrats now think that Barack Obama should be challenged for the 2012 Democratic presidential nomination.

However, if the Democrats were able to do surprisingly well on Tuesday, it would not only shock the political pundits, but it would also likely put world financial markets in a very bad mood.

If the Republicans do very well on Tuesday, it will likely mean that there will be no more extensions for those receiving long-term unemployment benefits. Some state governments are already anticipating this and are making preparations. For example, armed security guards are now being posted at all 36 full-service unemployment offices in the state of Indiana. It is estimated that approximately 2 million Americans will lose their unemployment insurance benefits during this upcoming holiday season if Congress does not authorize another emergency extension of benefits by the end of November. If the Republicans do very well on Tuesday, it would make it much more likely that the extension will not happen.

But if millions of unemployed Americans suddenly find themselves without any unemployment checks, that is only going to cause the anger and frustration regarding this economy to grow.

Either way, the unfortunate truth is that this election is not going to change much.

Over the past five elections, incumbents have been re-elected to the U.S. House of Representatives at an average rate of 96 percent.

This time will be a little different of course, but not that much different. The sad truth is that we are still likely to see about 80 percent of the exact same faces going back to the U.S. Congress for the next session.

However, even if the American people could somehow vote out every single member of Congress, it would still not do much to fundamentally change our economic situation because the U.S. Congress does not run the economy and neither does the President.

Of course both of those institutions can influence the U.S. economy, but it is actually the "Federal" Reserve that runs the economy.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Rebelitarian

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Well keep voting for Bilderberg party candidates then wonder why the lives of Americans don't improve.

Oh wait the sports game is on...

IDIOT AMERICAN IGNORANT VOTERS !!!!!!!!!!!!!!!!!!!

Offline Geolibertarian

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"We" aren't "living" beyond our means; we're being PARASITIZED beyond them!
« Reply #89 on: November 05, 2010, 01:25:25 PM »
I'm now of the opinion that, if theeconomiccollapseblog.com isn't a "controlled opposition" site, then it's at least being run by "useful dupes." To understand why, first read the following article:

-------------------------------------

http://www.prisonplanet.com/living-beyond-our-means-3-charts-that-prove-that-we-are-in-the-biggest-debt-bubble-in-the-history-of-the-world.html

Living Beyond Our Means: 3 Charts That Prove That We Are In The Biggest Debt Bubble In The History Of The World

The Economic Collapse
Nov 2, 2010

Do you want to see something truly frightening?  Just check out the 3 charts posted further down in this article.  These charts prove that we are now in the biggest debt bubble in the history of the world.  As Americans have enjoyed an incredibly wonderful standard of living over the past three decades, most of them have believed that it was because we are the wealthiest, most prosperous nation on the planet with economic and financial systems that are second to none.  But that is not even close to accurate.  The reason why we have had an almost unbelievably high standard of living over the past three decades is because we have piled up the biggest mountains of debt in the history of the world.  Once upon a time the United States was the wealthiest country on the planet, but all of that prosperity was not good enough for us.  So we started borrowing and borrowing and borrowing and we have now been living beyond our means for so long that we consider it to be completely normal.

We have been robbing future generations blind for so long that it doesn’t even seem to bother most people anymore.  We have become accustomed to living in debt.  We go into massive amounts of debt to get an education, we go into massive amounts of debt to buy a home, we go into massive amounts of debt to buy our cars, and we even pile up debt to buy holiday gifts and to purchase groceries.

Just check out the chart posted below.  It shows the total credit market debt owed in the United States.  In other words, it is a measure of what everyone owes (government, businesses and consumers).

30 years ago, total credit market debt owed was less than 5 trillion dollars. Today, it is over 50 trillion dollars. Total credit market debt is now at a level equivalent to about 360 percent of GDP. This is what has been fueling the great era of ”economic prosperity” that we have been experiencing….



So what is the answer to this problem?

The truth is that there is not an easy answer under our current system. The only way that the U.S. economy continues to “grow” is if the debt bubble continues to “expand”.

If our leaders allowed the debt bubble to “pop” and the U.S. economy went into a deleveraging cycle, it would mean that we would start living far below our means for an extended period of time and it would spawn a deflationary depression that would make the Great Depression look like a Sunday picnic.


Most Americans are in no mood to take that kind of hard medicine.

Do you really think that the American people are going to vote in politicians who tell them that it is time to live below our means and that we are going to have to experience a standard of living far below what our parents experienced in order to pay for all the debt that they racked up?

No, that is clearly a dog that isn’t going to hunt.

The American people want to hear that better times are ahead.

One way to give the American people “better times”, for the short-term at least, is to crank the debt spiral back up.

By introducing another huge flood of paper money into the economy, the Federal Reserve and the U.S. government are hoping that banks will start lending again and that U.S. consumers will start going into more debt again. Already, as you can see from the chart below, U.S. household debt has started to sink just a little bit. But considering the fact that approximately 70 percent of our GDP is generated by U.S. consumer spending, that is not good news for “economic growth” statistics.

Three decades of “economic expansion” have been fueled by consumer debt that has spiralled completely out of control. Over the past 30 years, total U.S. household debt has gone from less than 2 trillion dollars to almost 14 trillion dollars….



So where did the housing bubble come from? It came from Americans going into insane amounts of debt that they could not afford. The truth is that only the top 5 percent of all U.S. households have earned enough additional income to match the rise in housing costs since 1975.

Not only that, but Americans are going into staggering amounts of debt in order to pay for their educations. Total student loan debt in the United States is climbing at a rate of approximately $2,853.88 per second, and today Americans owe an all-time record of more than $849 billion on student loans, which is actually more than the total amount that Americans owe on their credit cards.

The truth is that American families are stretched thinner financially than they ever have been in the post-World War 2 era. According to a poll taken last year, 61 percent of Americans ”always or usually” live paycheck to paycheck. That was up significantly from 49 percent in 2008 and 43 percent in 2007.

Many Americans have come to the absolute breaking point. 1.41 million Americans filed for personal bankruptcy in 2009 – a 32 percent increase over 2008.

But remember, approximately 70 percent of our GDP is generated by U.S. consumer spending, so without more consumer spending there won’t be more economic growth.

So, instead of Obama and the Federal Reserve encouraging Americans to get out of debt and to save money, they are trying to get the American people to spend even more money and to go into even more debt because they desperately need positive “economic growth” figures.

The worst offender of all when it comes to debt, of course, is the U.S. federal government. Over the last 30 years, the U.S. national debt has gone from about 1 trillion dollars to almost 14 trillion dollars….



This is the largest single debt in the history of the world.

So just how big is one trillion dollars?

If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.

Yet somehow the U.S. government has accumulated a debt that is well over 13 trillion dollars.

Unfortunately, it keeps getting worse month after month after month.

According to the U.S. Treasury Department, the U.S. national debt is rapidly closing in on 14 trillion dollars and and will climb to an estimated $19.6 trillion by 2015.

Should we all throw a big party when it crosses the 20 trillion dollar mark?

I can just hear the theme song now….

“I’m going to party like I’m 19.99 trillion in debt!”

But the cold, hard reality is that we are in far, far more trouble than what the official government numbers tell us.

In a recent article, Boston University economics professor Laurence J. Kotlikoff analyzed the financial condition of the U.S. government, and he summarized the horror we are facing by making the following statement….

    “Let’s get real. The U.S. is bankrupt.”

After carefully going over Congressional Budget Office data, Kotlikoff came to the conclusion that the U.S. government is now facing a “fiscal gap” of $202 trillion dollars.

Now how in the world did that happen?

Well, it turns out that we have made promises to future generations that we cannot possibly even come close to keeping.

Social Security and Medicare are fiscal nightmares that are far more immense than anything that U.S. government has ever faced before.

According to an official U.S. government report [.pdf], rapidly growing interest costs on the U.S. national debt together with spending on major entitlement programs such as Social Security and Medicare will absorb approximately 92 cents of every dollar of federal revenue by the year 2019. That is before a single penny is spent on anything else.

That is just 9 years away.

When people speak of the financial situation of the U.S. government being “unsustainable”, they aren’t kidding around.

The truth is that the U.S. government has been running gigantic Ponzi schemes which are about to collapse.

Take the Social Security shell game for example. Back in 1950, each retiree’s Social Security benefit was paid for by approximately 16 workers. Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers. By 2025, it is projected that there will be approximately two workers for each retiree.

So exactly how is that supposed to work?

For much more on the coming Social Security nightmare, please see an article that I posted earlier this year: 22 Statistics About America’s Coming Pension Crisis That Will Make You Lose Sleep At Night.

Sadly, Professor Kotlikoff is not exaggerating in the least when he proclaims that the U.S. government is bankrupt.

At our current pace, the Congressional Budget Office is projecting that U.S. government public debt will hit 716 percent of GDP by the year 2080.

Public debt at a level of 100 percent of GDP is supposed to be an absolute nightmare scenario.

Needless to say, the whole thing is going to come crashing down long, long before we ever get to 2080.

We have been living far, far beyond our means for decades, and it has been the greatest party in the history of the world.

But it is time to turn out the lights because the party is over.

-------------------------------------

The veiled message of the above article seems to be that, since "we" -- as in "We the People" -- have been "living far, far beyond our means for decades," we actually deserve the IMF-style austerity measures that the criminal bankers who engineered this economic collapse in the first place are about to impose on us!

This is a Malthusian talking point that ruling-class oligarchs want desperately for the masses to blindly accept as divine gospel, lest the latter refuse to blame themselves for the economic crimes of the former, and lest they opt instead for putting these oligarchs behind bars where they belong.

It was not "we" who created the quadrillion-dollar derivatives bubble; it was the bankers who did that.

It was not "we" who, through the use of bought-off politicians, instituted a debt-based money system in which "borrowing" is the only way any money is allowed to come into circulation in the first place, in which money is destroyed whenever the principal of a bank loan is repaid, and in which the money needed to pay the interest on all these loans is never created to begin with (thus creating a built-in shortage of money, and hence a dog-eat-dog, musical chairs economy); it was the bankers who did that.

And it was not "we" who knowingly failed to provide lawful consideration for any of the collateral-backed IOUs that were accepted by private banks in exchange for the non-existent "money" they loaned; it was the bankers who did that.

So once again the bottom line is: it's not that "we" have been "living" beyond our means, but that elite bankers have been parasitizing us beyond our means.

It is thus not "we" who should be made to experience a standard of living "far below" what we've grown accustomed to, but criminal bankers who should be made to experience a standard of living "far below" what they've grown accustomed to.

As I've explained both here and elsewhere, none of the so-called "money" that these bankers have "loaned" to us ever really existed in the first place. It is therefore the height of absurdity to insist that we should sacrifice our living standards in order to "pay back" all of this fraudulent debt, all so that elite bankers can continue to live in the lap of luxury.

Beware of anyone who attempts to convince you otherwise. And that includes Austrian School propagandists, who love to euphemistically characterize the banker-engineered collapse in living standards as a mere case of "market forces" imposing a just and necessary "correction" on the economy (even though in reality it's an obvious case of ruling-class parasites engaging in a patently unjust and totally unnecessary looting of the economy).
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline freedom_commonsense

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Unfortunately that is exactly what a sizable chunk of the British middle class seems to believe - that the "lazy poor" have enjoyed a living standard beyond their means for too long. The fractional reserve\IOU items issued by private bankers are dismissed as "conspiracy theory" with no bearing on the economic collapse, and in the case of Austrian school ideologues, that deflation is necessary to account for "scarce" resources. Next I'll be hearing how we should be grateful that corporations and banks provide us with jobs\financing so we don't starve  ::)

Online Jackson Holly

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    • JACKSON HOLLY'S OLD HOME PLACE

I wonder how many of us forum members will eventually end up like this ...

or worse? I know that I could not survive too many missing paychecks.


~~~~~~

The tunnel people of Las Vegas:
How 1,000 live in flooded labyrinth
under Sin City's shimmering strip


By Daily Mail Reporter
Last updated at 11:18 AM on 4th November 2010


Deeper underground: Steven and Kathryn live in a 400sq ft 'bungalow' under Las Vegas which they have lovingly furnished with other people's castoffs

Deep beneath Vegas’s glittering lights lies a sinister labyrinth inhabited by poisonous spiders and a man nicknamed The Troll who wields an iron bar.

But astonishingly, the 200 miles of flood tunnels are also home to 1,000 people who eke out a living in the strip’s dark underbelly.

Some, like Steven and his girlfriend Kathryn, have furnished their home with considerable care - their 400sq ft 'bungalow' boasts a double bed, a wardrobe and even a bookshelf.

~~~~

One man's junk... Tunnel residents have created wardrobes for their clothes and salvaged furniture to make the subterranean world more homely. However, there is little they can do about the water on the floor.


~~~~

‘These are normal people of all ages who’ve lost their way, generally after a traumatic event,’ he said.

‘Many are war veterans suffering from post-traumatic stress.

‘It’s not known how many children are living there, as they’re kept out of sight, but I’ve seen evidence of them – toys and teddy bears.’

O’Brien has published a book on the tunnel people called Beneath The Neon.

These evocative images which show the community's astonishing way of life were taken by Austin Hargrave, a British photographer now based in the U.S.

They show how the destitute and hopeless have constructed a community beneath the city and have even dedicated one section of tunnels to an art gallery filled with intricate graffiti.

Read entire article w/more photos here:
http://www.dailymail.co.uk/news/article-1326187/Las-Vegas-tunnel-people-How-1-000-people-live-shimmering-strip.html

St. Augustine: “The truth is like a lion; you don't have to defend it.
Let it loose; it will defend itself."

Offline freedom_commonsense

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Well should that time come again, I would consider opting for what those guys did rather than live on the surface in this cold...

Offline Rebelitarian

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It'll probably take 60% of America living this way until the FED gets audited then shut down.

Offline freedom_commonsense

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It'll probably take 60% of America living this way until the FED gets audited then shut down.

Cash-in-hand work is about the only thing keeping me afloat right now...it's also amusing that the comments in the Mail article suggest that we don't have a homeless problem in the UK. Or that it's the fault of the people themselves that they are homeless  ::)

Offline Geolibertarian

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Cash-in-hand work is about the only thing keeping me afloat right now...it's also amusing that the comments in the Mail article suggest that we don't have a homeless problem in the UK. Or that it's the fault of the people themselves that they are homeless  ::)

If there's one thing I despise more than anything, it's the sadistic gleefulness with which smug, self-righteous yuppies, yuppie wannabes and wealthy "seniors" incessantly blame the victims of economic terrorism instead of the terrorists themselves -- especially if those victims were relatively poor to begin with.

Quite frankly, when these blame-the-victim-firsters inevitably become victims themselves of the very same economic terrorism, they'll be getting exactly what they deserve.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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Americans On Foodstamps Hits New Record In August
« Reply #96 on: November 06, 2010, 11:11:44 AM »
http://www.prisonplanet.com/americans-on-foodstamps-hits-new-record-in-august-increase-by-over-half-a-million-to-42-4-million-17-increase-year-over-year.html

Americans On Foodstamps Hits New Record In August, Increase By Over Half A Million To 42.4 Million, 17% Increase Year Over Year

Tyler Durden
Zero Hedge
Friday, November 5, 2010

Another highlight you may not hear in the President’s address from this morning: according to the last Department of Agriculture update, Americans on foodstamps has increased by over half a million in August, hitting a fresh all time high of 42.4 million people relying on the government for basis sustenance. At least now we know where that labor force is going. The August number is a 17% rise from the same time a year ago. That number is up 58.5% from August 2007, before the recession began.

As the WSJ reports:

    By population, Washington, D.C. had the largest share of residents receiving food stamps: More than a fifth, 21.1%, of its residents collected assistance in August. Washington was followed by Mississippi, where 20.1% of residents received food stamps, and Tennessee, where 20% tapped into the government nutrition program.

    Idaho posted the largest jump in recipients in the past year. The number of people receiving food stamps climbed 38.8% but their rolls are still fairly low. Just 211,883 Idaho residents collected food stamps in August.

    The average benefit size per person nationwide in August was $133.90. Per household it was $287.82.

    Food stamps have become a lifeline for workers who have lost their jobs, particularly among the growing share of unemployed Americans who have also exhausted their unemployment benefits. Lines at grocers at midnight on the first of the month have signaled that, in many cases, those benefits aren’t tiding families over and they run out before their next check kicks in.

    Even during the summer children returned to schools to take advantage of free lunch programs where they were available. Nearly 195 million lunches were dished out in August and 58.9% of them were free. Another 8.4% were available at reduced prices. That number will surge when the fall data are released because children will be back in school. Last September, for example, more than 590 million lunches were served, nearly 64% of which were free or reduced price.

    Children whose families have incomes at or below 130% of the poverty level — $28,665 for a family of four — can access free meals. Those families earning between 130% and 185% of the poverty level — $40,793 for a four-person family — are eligible for reduced-price meals that can’t cost more than 40 cents.

We also fail to see just what Fed-induced wealth effect these 42.4 million Americans will receive courtesy of the Fed’s generosity targetting Wall Street, corporate insiders, and nobody else.

-------------------------------------

To those reading this, when the newly-elected Republicans talk about imposing a "freeze" on spending, which do you think they're more likely to exempt from this freeze -- the nearly trillion dollars being wasted each year on our imperialist, terroristic, hornets' nest-stirring foreign policy, or the comparative chump change being spent on food stamps?

Anyone who thinks they'll exempt the latter instead of the former is either blissfully ignorant or in willful denial.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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It'll probably take 60% of America living this way until the FED gets audited then shut down.

Unfortunately, if it ever gets that bad, most Americans will probably "react" by begging the very ruling-class oligarchs who caused the "problem" in the first place to implement their preplanned global debt-money "solution."

http://www.youtube.com/watch?v=29C_KNZ7RNs (Problem-Reaction-Solution)
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Big Lies, Little Lies
« Reply #98 on: November 08, 2010, 12:05:31 PM »
http://www.prisonplanet.com/big-lies-little-lies.html

Big Lies, Little Lies

Paul Craig Roberts
Prisonplanet.com
Nov 8, 2010

If we cannot trust what the government tells us about weapons of mass destruction, terrorist events, and the reasons for its wars and bailouts, can we trust the government’s statement last Friday that the US economy gained 151,000 payroll jobs during October?

Apparently not. After examining the government’s report, statistician John Williams (shadowstats.com) reported that the jobs were “phantom jobs” created by “concurrent seasonal factor adjustments.” In other words, the 151,000 jobs cannot be found in the unadjusted underlying data. The jobs were the product of seasonal adjustments concocted by the BLS.

As usual, the financial press did no investigation and simply reported the number handed to the media by the government.
 
The relevant information, the information that you need to know, is that the level of payroll employment today is below the level of 10 years ago. A smaller number of Americans are employed right now than were employed a decade ago.

Think about what that means. We have had a decade of work force growth from youngsters reaching working age and from immigration, legal and illegal, but there are fewer jobs available to accommodate a decade of work force entrants than before the decade began.

During two years from December 2007 – December 2009, the US economy lost 8,363,000 jobs, according to the payroll jobs data. As of October 2010, payroll jobs purportedly have increased by 874,000, an insufficient amount to keep up with labor force growth. However, John Williams reports that 874,000 is an overestimate of jobs as a result of the faulty “birth-death model,” which overestimates new business start-ups during recessions and underestimates business failures. Williams says that the next benchmark revision due out next February will show a reduction in current employment by almost 600,000 jobs. This assumes, of course, that the BLS does not gimmick the benchmark revision. If Williams is correct, it is more evidence that the hyped recovery is non-existent.

Discounting the war production shutdown at the end of World War II, which was not a recession in the usual sense, Williams reports that “the current annual decline [in employment] remains the worst since the Great Depression, and should deepen further.

In short, there is no employment data, and none in the works, unless gimmicked, that supports the recovery myth. The US rate of unemployment, if measured according to the methodology used in 1980, is 22.5%. Even the government’s broader measure of unemployment stands at 17%. The 9.6% reported rate is a concocted measure that does not include discouraged workers who have been unable to find a job after 6 months and workers who want full time jobs but can only find part-time work.

Another fact that is seldom, if ever, reported, is that the payroll jobs data reports the number of jobs, not the number of people with jobs. Some people hold two jobs; thus, the payroll report does not give the number of employed people.

The BLS household survey measures the number of people with jobs. The same October that reported 151,000 new payroll jobs reported, according to the household survey, a loss of 330,000 jobs.

The American working class has been destroyed. The American middle class is in its final stages of destruction. Soon the bottom rungs of the rich themselves will be destroyed.

The entire way through this process the government will lie and the media will lie.

The United States of America has become the country of the Big Lie. Those who facilitate government and corporate lies are well rewarded, but anyone who tells any truth or expresses an impermissible opinion is excoriated and driven away.

But we “have freedom and democracy.” We are the virtuous, indispensable nation, the salt of the earth, the light unto the world.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Ruling on Behalf of Wall St.'s "Super Rich": The Financial End Time has Arrived
« Reply #99 on: November 16, 2010, 02:29:24 PM »
http://www.globalresearch.ca/ruling-on-behalf-of-wall-street-s-super-rich-the-financial-end-time-has-arrived/21947

Ruling on Behalf of Wall Street's "Super Rich": The Financial End Time has Arrived

by Prof. Michael Hudson



Global Research
November 16, 2010

Now that President Obama is almost celebrating his bipartisan willingness to renew the tax cuts for the super-rich enacted under George Bush ten years ago, it is time for Democrats to ask themselves how strongly they are willing to oppose an administration that looks like Bush-Cheney III. Is this what they expected by Mr. Obama’s promise to rise above partisan politics – by ruling on behalf of Wall Street, now that it is the major campaign backer of both parties?

It is a reflection of how one-sided today’s class war has become that Warren Buffet has quipped that “his” side is winning without a real fight being waged. No gauntlet has been thrown down over the trial balloon that the president and his advisor David Axelrod have sent up over the past two weeks to extend the Bush tax cuts for the wealthiest 2% for “just” two more years. For all practical purposes the euphemism “two years” means forever – at least, long enough to let the super-rich siphon off enough more money to bankroll enough more Republicans to be elected to make the tax cuts permanent.

Mr. Obama seems to be campaigning for his own defeat! Thanks largely to the $13 trillion Wall Street bailout – while keeping the debt overhead in place for America’s “bottom 98%” – this happy 2% of the population now receives an estimated three quarters (~75%) of the returns to wealth (interest, dividends, rent and capital gains). This is nearly double what it received a generation ago. The rest of the population is being squeezed, and foreclosures are rising.

Charles Baudelaire quipped that the devil wins at the point where he manages to convince the world that he doesn’t exist. Today’s financial elites will win the class war at the point where voters believe it doesn’t exist – and believe that Mr. Obama is trying to help them rather than shepherd them into debt peonage as the economy settles into debt deflation.

We are dealing with shameless demagogy. The financial End Time has arrived, but Mr. Obama’s happy-talk pretends that “two years” will get us through the current debt-induced depression. The Republican plan is to make more Congressional and Senate gains in 2012 as Mr. Obama’s former supporters “vote with their backsides” and stay home, as they did earlier this month. So “two years” means forever in politician-talk. Why vote for a politician who promises “change” but is merely an exclamation mark for the Bush-Cheney policies from Afghanistan and Iraq to Wall Street’s Democratic Leadership Council on the party’s right wing? One of its leaders, after all, was Mr. Obama’s Senate mentor, Joe Lieberman.

The second pretense is that cutting taxes for the super-rich is necessary to win Republican support for including the middle class in the tax cuts. It is as if the Democrats never won a plurality in Congress. (One remembers George W. Bush with his mere 50+%, pushing forward his extremist policies on the logic that: “I’ve got capital, and I’m using it.” What he had, of course, was Democratic Leadership Committee support.) The pretense is “to create jobs,” evidently to be headed by employment of shipyard workers to build yachts for the nouveau riches and sheriff’s deputies to foreclose on the ten million Americans whose mortgage payments have fallen into arrears. It sounds Keynesian, but is more reminiscent of Thomas Robert Malthus’s lugubrious claim (speaking for Britain’s landed aristocracy) that landlords would keep the economy going by using their rental income (to be protected by high agricultural tariffs) to hire footmen and butlers, tailors and carriage-makers.

It gets worse. Mr. Obama’s “Bush” tax cut is only Part I of a one-two punch to shift taxes onto wage earners. Congressional economists estimate that extending the tax cuts to the top 2% will cost $700 to $750 billion over the next decade or so. “How are we going to go out and borrow $700 billion?” Mr. Obama asked Steve Croft on his Sixty Minutes interview on CBS last week.

It was a rhetorical question. The President has appointed a bipartisan commission (right-wingers on both sides of the aisle) to “cure” the federal budget deficit by cutting back social spending – to pay yet more bailouts to the economy’s financial wreckers. The National Commission on Fiscal Responsibility and Reform might better be called the New Class War Commission to Scale Back Social Security and Medicare Payments to Labor in Order to Leave more Tax Revenue Available to Give Away to the Super-Rich. A longer title than the Deficit-Reduction Commission used by media friendlies, but sometimes it takes more words to get to the heart of matters.

The political axiom at work is “Big fish eat little fish.” There’s not enough tax money to continue swelling the fortunes of the super-rich pretending to save enough to pay the pensions and related social support that North American and European employees have been promised. Something must give – and the rich have shown themselves sufficiently foresighted to seize the initiative. For a preview of what’s in line for the United States, watch neoliberal Europe’s fight against the middle and working class in Greece, Ireland and Latvia; or better yet, Pinochet’s Chile, whose privatized Social Security accounts were quickly wiped out in the late 1970s by the kleptocracy advised by the Chicago Boys, to whose monetarist double-think Mr. Obama’s appointee Ben Bernanke has just re-pledged his loyalty.

What is needed to put Mr. Obama’s sell-out in perspective is the pro-Wall Street advisors he has chosen – not only Larry Summers, Tim Geithner and Ben Bernanke (who last week reaffirmed his loyalty to Milton Friedman’s Chicago School monetarism), but by stacking his Deficit Reduction Commission with outspoken advocates of cutting back Social Security, Medicare and other social spending. Their ploy is to frighten the public with a nightmare of $1 trillion deficit to pay retirement income over the next half century – as if the Treasury and Fed have not just given Wall Street $13 trillion in bailouts without blinking an eye. President Obama’s $750 billion tax giveaway to the wealthiest 2% is mere icing on the cake that the rich will be eating when the bread lines get too long.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Hunger in America
« Reply #100 on: November 17, 2010, 02:13:03 PM »
http://www.globalresearch.ca/hunger-in-america/21967

Hunger in America

by Patrick Martin



Global Research
November 17, 2010

Some 15 percent of US households, 17.4 million families or about 50 million people, were too poor to buy adequate food last year, according to a new report from the US Department of Agriculture (USDA). More than a third of these households, with as many as one million children, were missing meals on a regular basis, the study found.

The number of families classified as “food insecure” according to the USDA, which administers the food stamp program, has more than tripled since 2006, before the current economic slump which has brought near double-digit unemployment. Because most people are reluctant to admit they have a problem putting food on the table, particularly when they have children, “food insecurity” was calculated from survey questions about skipping meals or running out of food stamps, combined with comparisons of income and food prices.

Virtually the sole cause of food insecurity in America—the largest producer of agricultural and food products on the planet—is lack of money. The poverty rate has risen sharply over the past three years, with an estimated 50 million people living below the official poverty line, which grossly underestimates the income needed for basic necessities.

Highlighting the significant inequalities in food resource availability across US households, the USDA report noted that the typical food-secure household spent a whopping 33 percent more on food than the typical food-insecure household of the same size and household composition.

In keeping with the Obama administration’s policy of minimizing the depth of the social crisis, the USDA official who released the report, Under Secretary Kevin Concannon, said the latest hunger survey showed a “stabilization” of the problem compared to the year before. In other words, just as many people were hungry in 2009 as in 2008, as though that represented “progress” rather than making permanent a level of social misery not seen in America for 40 years.

Concannon said the report was a hopeful one, since the number of hungry people did not increase even though the number of unemployed Americans rose sharply from 9 million in 2008 to 14 million in 2009. He credited food stamps and other federal programs for staving off any further increase in hunger. “This report highlights just how critical federal nutrition assistance programs are for American families,” he said.

The number of Americans receiving food stamps under the Supplemental Nutrition Assistance Program (SNAP) rose to 42.4 million. Another one million children received free or subsidized school lunches daily, while some 400,000 pregnant women and nursing mothers received milk, butter, eggs and other food under the WIC program. All told, one quarter of US households have at least one person receiving food stamps or other food aid. However, 43 percent of food-insecure households were not participating in any of these three programs.

Despite the complacency voiced by the Obama administration official, there is ample reason to believe that the present nutrition programs, already inadequate to meet the social need, will be further slashed by Congress. The Child Nutrition Act must be reauthorized this year, and the Senate version of the bill cuts more than $2 billion from food stamps in order to pay for the increasing cost of school lunches—essentially robbing children at home in order to feed them in school. Earlier this year, an extension of unemployment benefits for the long-term jobless was funded in part by cuts in the food stamp program.

In a society which took seriously the value of human life and the future of its children, the spectacle of 50 million people at risk of hunger, including 17 million children, would be a social emergency. Given that the United States once boasted of its ability to feed the planet, the indifference to the growth of hunger at home is a national scandal.

But in the America of 2010, the news about hunger was relegated to small items on the inside pages of newspapers (A21 in the Washington Post, nothing in the New York Times), and failed to make a splash on the evening news broadcasts, more concerned with the engagement of Britain’s Prince William.

The hunger report provides another dimension for measuring the social irresponsibility, greed and outright cruelty of the US financial aristocracy, which is far more concerned with fattening its own outrageous bank accounts and assets than with alleviating mass suffering in the richest country in the world.

The US Congress began its “lame duck” session Monday, to be followed by a bipartisan summit Thursday between President Obama and congressional Democratic and Republican leaders. The food crisis will not be on the agenda in these discussions. The only hunger being discussed is the truly insatiable craving of the rich for even more wealth.

The Obama administration and the Republicans are currently negotiating the terms for the Democratic Party’s surrender to right-wing demands for an extension of the Bush tax cuts for the wealthy. This will cost $700 billion over the next decade, or $70 billion a year, more than the cost of all federal nutrition programs combined.

Meanwhile, Obama has praised the proposal from the chairmen of his deficit reduction commission to impose drastic cuts in social programs for the elderly and the poor along with lower taxes for the rich and for corporations and higher taxes for the working class. The mantra of the White House, the political establishment and the media is that the American people have been living beyond their means and must accept a reduction in their consumption.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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Biggest wealth gap in U.S. since 1920s
« Reply #101 on: November 23, 2010, 05:40:59 PM »
http://seerpress.com/biggest-wealth-gap-in-u-s-since-1920s/13568/

Biggest wealth gap in U.S. since 1920s

Ngaiting Cheung
Seer Press News
Nov 12th, 2010

The United States is no longer a place of equality, at least, the wealth distribution do not show in this way. According to the analysis of Professor Edward Wolff of New York University, the Americans are having the largest gap between rich and poor since 1920s.

The big gap is worrying. The top 20 per cent of the wealthy Americans own about 85 per cent of the wealth, while the bottom 40 per cent own almost 0 per cent of them, many of them even have negative net wealth.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Rebelitarian

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The problem ia teaching Americans how economics and fractional-reserve-banking works.

Most Americans can't be bothered to learn anything anymore.

My dad just got a faster computer and I sent him the Money-Masters video.  He thinks I'm nuts talking about Ron Paul and the evils of the Federal-Reserve.

Hopefully he'll watch the video and gain a historical prospective on banking in this country.

The problem is the reactionary public with a Homer Simpson-like attention span.

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Cutting the Deficit: Sacrificing Workers to Save the Rich
« Reply #103 on: November 29, 2010, 10:36:36 AM »
http://www.globalresearch.ca/cutting-the-deficit-sacrificing-workers-to-save-the-rich/22149

Cutting the Deficit: Sacrificing Workers to Save the Rich

by Prof James Petras



Global Research
November 28, 2010

“There’s class warfare, all right, but its my class, the rich class that’s making war and we’re winning” -- Warren Buffet

The most important and popular social and tax programs in the United States are threatened by a self-styled “Bipartisan National Commission on Fiscal Responsibility and Reform”. Appointed by President Obama on February 18, 2010, co-chaired by two longstanding champions of Wall Street: ex Senator Simpson (R, WY) and former Clintonite White House Chief of Staff Erskine Bowles. The Commission Report issued November 10 proposes to slash social security payments, reducing recipients to poverty, raise the retirement age to 69 ensuring that millions of workers will die before they can retire, or enter retirement in ill health; reduce or freeze cost of living increases through inflation indexes which understate by half the rises in food, gas, hospital and education. The Commission proposes deep cuts in Medicare, increased Medicaid co-pays and slashing $54 billion from graduate medical education. The Commission proposes to eliminate tax breaks including deductions for home mortgage interest payments while taxing employer provided medical insurance.

The same Commission Report proposes to reduce capital gains and income taxes for the rich by up to 24%.

President Obama and the Republican leadership praised the Commission and wants “to give them space to work on it”.
 
The so-called crisis of Social Security is a result of the Republican and Democratic governments siphoning off payments into the general fund. The forthcoming shortfall (2030) can be easily remedied by lifting the payroll tax ceiling, for the rich, taxing all earned income.

Medical costs can be reduced by 50% by replacing the for profit corporate health insurance and pharmaceutical corporations with a non-profit national health system, similar to successful programs in Europe and Canada.

Both Medical plans and Social Security can be easily funded by imposing a 1% sales tax on the sale of stocks and bonds.

The deficit proposals put forth by Obama’s Bipartisan Commission threaten to push the one-third of retirees who depend mainly on their social security payments into the food kitchens or destitution. The added cost and reductions in health care will increase the mortality rate among working families. The increase in retirement age will result in “work until you die”, with no time for leisure, travel or grandchildren.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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20 Statistics That Prove That Global Wealth Is Being LOOTED By The "Elite"
« Reply #104 on: December 01, 2010, 04:25:53 PM »
http://www.prisonplanet.com/20-statistics-that-prove-that-global-wealth-is-being-funneled-into-the-hands-of-the-elite-%e2%80%93-leaving-most-of-the-rest-of-the-world-wretchedly-poor.html

20 Statistics That Prove That Global Wealth Is Being Funneled Into The Hands Of The Elite – Leaving Most Of The Rest Of The World Wretchedly Poor

The Economic Collapse
Nov 30, 2010

Today global wealth is more highly concentrated in the hands of the elite than it ever has been at any other point in modern history.  Once upon a time, the vast majority of the people in the world knew how to grow their own food, raise their own animals and take care of themselves.  There weren’t many that were fabulously wealthy, but there was a quiet dignity in having land you could call your own or in having a skill that you could turn into a business.  Sadly, over the past several decades an increasingly growing percentage of agricultural land has been gobbled up by big corporations and by corrupt governments.  Hundreds of millions of people have been pushed off their land and into highly concentrated urban areas.  Meanwhile, it has become increasingly difficult to start a business of your own as monolithic global corporations have come to dominate nearly every sector of the world economy.  So more people than ever around the world are forced to work for “the system” just to make a living.  At the same time, those at the very top of the food chain (the elite) have spent decades rigging the system to ensure that increasing amounts of wealth will continue to flow into their pockets.  So now in 2010 we have a global system where a few elitists at the top are insanely wealthy while about half the people living on earth are wretchedly poor.

There are very few nations around the world that have not been almost entirely plundered by the global elite.  When the elite speak of “investing” in poor countries, what they really mean is taking control of the land, water, oil and other natural resources.  In dozens of nations around the world today, big global corporations are stripping fabulous amounts of wealth out of the ground even as the vast majority of the citizens of those nations continue to live in abject poverty.  Meanwhile, the top politicians in those nations are given huge bribes to go along with the plundering.

So what we have in 2010 is a world that is dominated by a very small handful of ultra-wealthy elitists that own an almost unbelievable amount of real assets, a larger group of “middle managers” that run the system for the global elite (and are rewarded very handsomely for doing so), hundreds of millions of people who actually do the work required by the system, and several billion “useless eaters” that the global elite don’t really need and that they don’t really have much use for.

The system was not ever designed to lift up the poor.  Nor was it ever designed to promote “free enterprise” and “competition”.  Rather, the elite intend to funnel all wealth to themselves and to have the rest of us enslaved either to debt or to poverty.

The following are 20 statistics that prove that the wealth of the world is increasingly being funneled into the hands of the global elite, leaving most of the rest of the world wretchedly poor and miserable….

#1 According to the UN Conference on Trade and Development, the number of “least developed countries” has doubled over the past 40 years.

#2 “Least developed countries” spent 9 billion dollars on food imports in 2002.  By 2008, that number had risen to 23 billion dollars.

#3 Average income per person in the poorest countries on the continent of Africa has fallen by one-fourth over the past twenty years.

#4 Bill Gates has a net worth of somewhere in the neighborhood of 50 billion dollars.  That means that there are approximately 140 different nations that have a yearly GDP which is smaller than the amount of money Bill Gates has.

#5 A study by the World Institute for Development Economics Research discovered that the bottom half of the world population owns approximately 1 percent of all global wealth.

#6 Approximately 1 billion people throughout the world go to bed hungry each night.

#7 The wealthiest 2 percent own more than half of all global household assets.

#8 It is estimated that over 80 percent of the world’s population lives in countries where the income gap between the rich and the poor is widening.

#9 Every 3.6 seconds someone starves to death and three-quarters of them are children under the age of 5.

#10 According to Gallup, 33 percent of the people on the globe say that they do not have enough money for food.

#11 As you read this, there are 2.6 billion people around the world that lack basic sanitation.

#12 According to the most recent “Global Wealth Report” by Credit Suisse, the wealthiest 0.5% control over 35% of the wealth of the world.

#13 More than 3 billion people, close to half the world’s population, live on less than 2 dollar a day.

#14 CNN founder Ted Turner is the largest private landowner in the United States.  Today, Turner owns approximately two million acres.  That is an amount greater than the land masses of the states of Delaware and Rhode Island combined.  Turner also advocates restricting U.S. couples to 2 or fewer children to control population growth.

#15 There are 400 million children in the world today that have no access to safe water.

#16 Approximately 28 percent of all children in developing countries are considered to be underweight or have had their growth stunted as a result of malnutrition.

#17 It is estimated that the United States owns approximately 25 percent of the total wealth of the world.

#18 It is estimated that the entire continent of Africa owns approximately 1 percent of the total wealth of the world.

#19 In 2008, approximately 9 million children died before they reached their fifth birthdays.  Approximately a third of all of these deaths was due either directly or indirectly to lack of food.

#20 The most famous banking family in the world, the Rothschilds, has accumulated mountains of wealth while much of the rest of the world has been trapped in poverty.  The following is what Wikipedia has to say about Rothschild family wealth….

    ”It has been argued that during the 19th century, the family possessed by far the largest private fortune in the world, and by far the largest fortune in modern history.”

Nobody seems to know exactly how much the Rothschilds are worth today.  They dominate the banking establishments of England, France, Germany, Austria, Switzerland and many other nations.  It was estimated that they were worth billions back in the mid-1800s.  What the total wealth of the family is today is surely an amount that is almost unimaginable, but nobody knows for sure.

Meanwhile, billions of people around the globe are wondering where their next meal is going to come from.

At this point, many readers will want to start arguing about how horrible capitalism is and about how wonderful socialism and communism are.

But capitalism is not the problem and as we have seen countless times over the past several decades, government ownership of business is not the solution to anything.

What we have in the world today is not capitalism.  Rather, it more closely resembles “feudalism” than anything else.  The elite are “monopoly men” who use their unbelievable wealth and power to dominate the rest of us.  In fact, it was John D. Rockefeller who once said that “competition is sin.”

It would be great if we lived in a world where those living in poverty were encouraged to start owning land, to create businesses and to build better lives for themselves.

But instead, things are going the other way.  Wealth is becoming more concentrated in the hands of the elite, and the middle class is starting to be wiped out even in prosperous nations such as the United States.

It turns out that the global elite have decided that they don’t really need so many expensive American “worker bees” after all and they have been moving thousands of factories and millions of jobs overseas.  Meanwhile the American people are so distracted watching Dancing with the Stars, Lady Gaga and their favorite sports teams that they don’t even realize what is going on.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Re: 20 Statistics That Prove That Global Wealth Is Being LOOTED By The "Elite"
« Reply #105 on: December 01, 2010, 05:06:27 PM »
http://www.prisonplanet.com/20-statistics-that-prove-that-global-wealth-is-being-funneled-into-the-hands-of-the-elite-%e2%80%93-leaving-most-of-the-rest-of-the-world-wretchedly-poor.html

It would be great if we lived in a world where those living in poverty were encouraged to start owning land, to create businesses and to build better lives for themselves.

The author of the above article seems to think that the primary reason why those living in poverty don’t “own” land already is not that they were forcibly dispossessed of all land by the overextension of law-made property, but the mere fact that no one ever “encouraged” them to purchase any.

That, of course, is no less ridiculous -- and no less arrogant -- than suggesting that the primary reason why so many Third World peasants fall prey to starvation is that no one ever “encouraged” them to purchase food when they’re hungry.  ::)

Thus, as far as I'm concerned, this is merely another subtle, condescending way of blaming the victims of ruling-class parasitism instead of the parasites themselves.

The fact is, it is precisely this institutionalized, aristocratic notion that a mere subset of the population can rightfully assert exclusive, unconditional “ownership” of the land on which all must live yet which none produced, that ultimately made so many people “poor” in the first place.

As Henry George put it:

-------------------------------------

"Place one hundred men on an island from which there is no escape, and whether you make one of these men the absolute owner of the other ninety-nine, or the absolute owner of the soil of the island, will make no difference either to him or to them.

"In the one case, as the other, the one will be the absolute master of the ninety-nine--his power extending even to life and death, for simply to refuse them permission to live upon the island would be to force them into the sea.

"Upon a larger scale, and through more complex relations, the same cause must operate in the same way and to the same end--the ultimate result, the enslavement of laborers, becoming apparent just as the pressure increases which compels them to live on and from land which is treated as the exclusive property of others. Take a country in which the soil is divided among a number of proprietors, instead of being in the hands of one, and in which, as in modern production, the capitalist has been specialized from the laborer, and manufacturers and exchange, in all their many branches, have been separated from agriculture. Though less direct and obvious, the relations between the owners of the soil and the laborers will, with the increase of population and the improvement of the arts, tend to the same absolute master on the one hand and the same abject helplessness on the other, as in the case of the island we have supposed. Rent will advance, while wages will fall."

-- Progress and Poverty, pp. 347-8

-------------------------------------

And as Albert Jay Nock put it:

-------------------------------------

"This imperfect policy of non-intervention, or laissez-faire, led straight to a most hideous and dreadful economic exploitation; starvation wages, slum dwelling, killing hours, pauperism, coffin-ships, child-labour -- nothing like it had ever been seen in modern times....People began to say, perhaps naturally, if this is what State absentation comes to, let us have some State intervention.

"But the State had intervened; that was the whole trouble. The State had established one monopoly, -- the landlord's monopoly of economic rent, -- thereby shutting off great hordes of people from free access to the only source of human subsistence, and driving them into the factories to work for whatever Mr. Gradgrind and Mr. Bottles chose to give them. The land of England, while by no means nearly all actually occupied, was all legally occupied; and this State-created monopoly enabled landlords to satisfy their needs and desires with little exertion or none, but it also removed the land from competition with industry in the labour market, thus creating a huge, constant and exigent labour-surplus." [Emphasis original]

-- Free Speech and Plain Language, pp. 320-1

-------------------------------------

Yet rather than acknowledge this cause-and-effect relationship, apologists for so-called “capitalism” (read: landlordism) prefer to turn reality on its head by suggesting or implying that world poverty persists in large part because the economic rent of land isn’t more privatized than it already is.

Bottom line: most of those living in acute poverty couldn’t become “owners” of land even if they wanted to, because the very fact that they’re poor means they lack the money with which to buy land. And why do they lack such money? For the most part, because of the parasitic rack-renting that those who already “own” all the land are allowed to engage in at the crippling expense of the landless.

The solution?

According to Austrian School “capitalists,” the only solution is to further entrench the very privilege-based land tenure system that gave rise to poverty-creating rack-renting in the first place.

According to Marxist “socialists,” the solution is first to agree with Austrian School “capitalists” that there’s no fundamental difference between the private ownership of capital goods (“capital” for short) and the private ownership of land, then to err in the opposite direction by insisting that both land and capital alike should be treated as “collective” property, and accordingly subjected to both heavy taxation and strict regulation.

At odds with both sides of this controlled-opposition debate are Georgists, who hold that the respective values of labor and capital should be treated as private property -- and accordingly exempted from taxation -- and that the value of land should be treated as common property -- and accordingly subjected to Henry George’s Single Tax.

Yet both “capitalists” and “socialists” alike -- despite being supposed “opposites” -- seem equally determined to keep the masses blissfully ignorant of the Georgist “Middle Way” approach to economic reform.

Hence the point I keep making that Democrat-vs.-Republican is not the only false paradigm within which countless people have allowed their minds and intellects to be literally enslaved via elite-funded propaganda campaigns.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Unemployment continues to rise
« Reply #106 on: December 06, 2010, 11:32:06 AM »
http://www.prisonplanet.com/jobless-recovery-25-unemployment-statistics-that-are-almost-too-depressing-to-read.html

Jobless Recovery?: 25 Unemployment Statistics That Are Almost Too Depressing To Read

Economic Collapse Blog
Dec 4, 2010

Guess what?  Unemployment is up again!  That’s right – even though Wall Street is swimming in cash and the Obama administration is declaring that “the recession is over”, the U.S. unemployment rate has gone even higher.  So are you enjoying the jobless recovery?  The truth is that there should not be any talk of a “recovery” as long as the “official” unemployment rate remains at around 10 percent and the “real” unemployment continues to hover around 17 percent.  There are millions and millions of American families that are living every day in deep pain because of the lack of jobs.  Meanwhile, there are all of these economic pundits that are declaring that we are just going to have to realize that chronic unemployment is the “new normal” and that if other nations can handle high rates of unemployment then so can we.  The most optimistic economists are projecting that we can perhaps get the unemployment rate down to around 8 percent by 2012.  On the other hand, there are many economists that are convinced that things are going to get even worse.

If you have never been unemployed, it can be hard to describe how soul-crushing it can be.  As the bills pile up and the financial obligations mount, the pressure can be debilitating.  Being unemployed for an extended period of time can easily plunge you into depression and grind your self-worth away to almost nothing.  After getting rejected dozens of times (or even hundreds of times), many Americans simply give up.  There are countless marriages and countless families that are being ripped to shreds by financial pressure even as you read this.  When the money is gone and there is no job in sight it can be a really, really empty feeling.

Of course there is a whole lot more to life than money, but it can be difficult to tell that to someone who can barely sleep at night because of the intense pressure to find a job.

The vast majority of Americans have at least one family member or close friend that is looking for work right now.  Times are really, really tough and unfortunately the long-term outlook is very bleak.  We should have compassion on those who are out of work right now, because soon many of us may join them.

The following are 25 unemployment statistics that are almost too depressing to read….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Letsbereal

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A Frightening Look At The Labor Market Recovery (CHART)
6 December 2010
, by Ryan McCarthy (The Huffington Post)
http://www.huffingtonpost.com/2010/12/05/job-market-unemployment-chart_n_792202.html

4 Million Americans Set To Lose Unemployment Benefits Even If Congress Passes Extension (CHART)
6 December 2010
, by Shahien Nasiripour (The Huffington Post)
http://www.huffingtonpost.com/2010/12/03/unemployment-benefits-99ers-obama_n_791682.html

Last Updated: December 3rd, 2010



Source: Shadowstats
->>>|:-) THE CITY INDIANS (-:|<<<-

Offline Geolibertarian

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24 Signs That All Of America Is Becoming Just Like Detroit
« Reply #108 on: December 07, 2010, 03:12:41 PM »
http://www.prisonplanet.com/24-signs-that-all-of-america-is-becoming-just-like-detroit-%e2%80%93-a-rotting-post-industrial-post-apocalyptic-wasteland.html

24 Signs That All Of America Is Becoming Just Like Detroit – A Rotting, Post-Industrial, Post-Apocalyptic Wasteland

The American Dream
Dec 7, 2010

For years, people have been laughing at the horrific economic decline of Detroit. Well, guess what? The same thing that happened to Detroit is now happening to dozens of other communities across the United States. From coast to coast there are formerly great manufacturing cities that have turned into rotting, post-industrial war zones. In particular, in America’s “rust belt” you can drive through town after town after town that resemble little more than post-apocalyptic wastelands. In many U.S. cities, the “real” rate of unemployment is over 30 percent. There are some communities that will start depressing you almost the moment you drive into them. It is almost as if all of the hope has been sucked right out of those communities.

Meanwhile, the economic downturn has been incredibly hard on the finances of state and local governments across the United States. Unlike the federal government, state and local governments cannot use the Federal Reserve to play games with their exploding debt burdens. Facing horrific budget deficits, many communities have begun adopting “austerity measures” in an attempt to slow the flow of red ink. All over the nation, deep budget cuts are slashing police departments, fire departments and other basic social services, but it seems like no matter what many of these communities try the debt just keeps growing.

So when you combine economic hopelessness with drastic budget cuts, what you get are hordes of communities from coast to coast that are becoming just like Detroit. In the city of Detroit today, there are over 33,000 abandoned houses, 44 schools have been permanently closed down, the mayor wants to bulldoze one-fourth of the city and you can literally buy a house for one dollar in the worst areas. Many Americans thought that it was funny to make fun of Detroit, but little did they know that what happened there would soon start happening everywhere.

The following are 24 signs that all of America is becoming a rotting, post-industrial, post-apocalyptic wasteland just like Detroit….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline TBPauly

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I love articles like this...puts all the facts in one story.  Great evidence for all the "non-believers" out there.
"Let justice be done though the heavens fall."
Jim Garrison, c. 1969

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From Bad To Worse: The Economy Today And Tomorrow
« Reply #110 on: December 07, 2010, 03:36:18 PM »
http://www.globalresearch.ca/from-bad-to-worse-the-economy-today-and-tomorrow/22307

From Bad To Worse: The Economy Today And Tomorrow

by Giordano Bruno



Global Research, December 7, 2010
Neithercorp Press  

At first, we were told the American economy was a freight train; invincible. After the derivatives and mortgage crisis began in 2007-2008, we were told the problem was a mere blip in our financial timeline; nothing to be concerned about. In 2009, we were told that the recession was over, and that “green shoots” were on the way. Later, they said we were “turning the corner”, whatever that means. In 2010, we were told it was time to get used to the “new normal”, which of course has yet to be clearly defined. Now, at the cusp of 2011, the year which many establishment economists originally claimed would bring a bright new era in U.S. employment and finance, it has become clear to much of the public that we are being deliberately herded with empty words and false promises towards a very dangerous and uncertain future.

We have discovered that there is no “new normal”. The word “normal” denotes a certain consistency, a set of rules to the system which are generally understood, yet we have seen nothing consistent except the continued downward freefall of our fiscal infrastructure and the end of anything remotely resembling stability.

I feel quite a bit of empathy and maybe even a little remorse for those who blindly believed the mainstream nonsense of the past few years. I can’t imagine being so lost and so utterly disappointed on such a regular basis. The only good to come out of this dashing of false hopes is that it has caused many to begin questioning what the hell is really happening. Why have things only become worse? What about all the government legislation and stimulus? When is it finally going to produce the effects that were once guaranteed? In fact, what are the benefits of ANY action the government or the private Federal Reserve has taken so far?

Let’s look at financial conditions across the globe and here at home, and perhaps we can gain a true understanding of the situation before us, and find answers for some of these questions…

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Rising Inequality in America
« Reply #111 on: December 09, 2010, 03:41:10 PM »
http://www.globalresearch.ca/rising-inequality-in-america-go-wall-street-go-never-mind-the-rise-in-unemployment-and-foreclosures/22335

Rising Inequality in America: Go, Wall Street, Go! Never mind the rise in unemployment and foreclosures...

by Danny Schechter



Global Research
December 9, 2010

Go, Wall Street, Go!

Never mind the rise in unemployment and foreclosures. Never mind the folks waiting to know if they will get the benefits they need before they are cut off. Never mind the growing gap between rich and poor, and the continuing spread of poverty.

(Did you know that inequality in the US is at the highest level of any industrialized country?)

Does any of this matter?

The idea of equality as a social goal is apparently passé.

Christmas has a special meaning on Wall Street:

It’s bonus time. This brings to mind Peter Wolf singing with the J Geils Band, “First I look at the Purse.”

The context was different but the meaning is the same.

Just five too big to fail bankster companies have stashed $90 billion for payouts to prized employees. They know that the beat on The Street is fading, so it seems to be take the money and run time.

Incidentally, that “bonus pool” will rise with end of the year earnings.

Right now, the greedsters have a PR problem—how to transfer all this wealth from the banks to themselves with the lowest possible tax rate and the lowest degree of bad publicity.

They also will try to focus the media on supporting their right to such over the top rewards and “incentives” in the name, of course, of fostering an economic recovery.

Yes, it is a cynical exercise but no more blatant that the successful campaign to extend the Bush tax cuts for millionaires.

The mantra is simple: to those who have, more should be given.

So sayeth the faux populists of the Tea Party and their Republican benefactors. So sayeth the Democrats in the interest of compromise and getting some unemployment benefits to workers even at an unacceptable cost.

Who will remind the American people that many of these banks are only here to pay because the government—our government—bailed them out and, then, the Federal Reserve Bank pumped trillions in no interest loans into their coffers?

Can we count on the media to point this out, to make the connection clear about the many government subsidies behind the gigantic payouts that are on the way to companies lobbying against government programs?

Don’t count on it.

Last Sunday. 60 Minutes sat down with Federal Reserve Chairman Ben Bernanke. They asked him about the bonuses. The Fed head had nothing to say about that. He just wanted to praise his own efforts to save the financial system.

If you watched his body language you could see that his stab at optimism was forced. He admitted it will be at least 5 years—if that—before more jobs come back.

He seemed depressed perhaps because he didn’t want to tell us we are in a depression. His past track record as a forecaster has been flawed to a fault. That was not noted.

As is common these days on the networks, no criticisms or contrary concerns intergrated into this world-shaking interview. There was no comment from Bernie Sanders who challenged the Fed’s admission of a “jaw-dropping” injection of trillions into banks here and abroad. There wasn’t even a response from libertarians like Ron Paul who was also horrified.

So much for reporting.

David Degraw of Amped Status says, the recent Fed disclosures were shocking.

“Just when I thought the banksters couldn’t possibly shock me anymore… they did. We were finally granted the honor and privilege of finding out the specifics, a limited one-time Federal Reserve view, of a secret taxpayer funded “backdoor bailout” by a small group of unelected bankers. This data release reveals “emergency lending programs” that doled out $12.3 TRILLION in taxpayer money - $3.3 trillion in liquidity, $9 trillion in “other financial arrangements. Wait, what? Did you say $12.3 TRILLION tax dollars were thrown around in secrecy by unelected bankers… and Congress didn’t know any of the details?”

Of course not!

The myth that the media continues to truck in is that somehow the Congress and the President are in charge of the economy,

They aren’t.

Wall Street and the corporate world are clearly running the show, with little restraint so far, effective oversight or regulation.

Back to Degraw: “The Federal Reserve was secretly throwing around our money in unprecedented fashion, and it wasn’t just to the usual suspects like Goldman Sachs, JP Morgan, Citigroup, Bank of America, etc.; it was to the entire Global Banking Cartel. To central banks throughout the world: Australia, Denmark, Japan, Mexico, Norway, South Korea, Sweden, Switzerland, England… To the Fed’s foreign primary dealers like Credit Suisse (Switzerland), Deutsche Bank (Germany), Royal Bank of Scotland (U.K.), Barclays (U.K.), BNP Paribas (France)… All their Ponzi players were “gifted.” All the Racketeer Influenced and Corrupt Organizations got their cut.

“If you still had any question as to whether or not the United States is now the world’s preeminent banana republic, the final verdict was just delivered and the decision was unanimous. The ayes have it…. I’ve been arguing for years that the market is rigged and that the major Wall Street firms are elaborate Ponzi schemes, as have many other people who built their beliefs on rational thought, reasoned logic and evidence. We already came to this conclusion by doing the research and connecting the dots.”

Where does this leave us? Is there any hope?

The critics of the Fed see little:

There are some related developments underway that could shake things up.

The Bernie Madoff ponzi probers are targeting banks including HSBC that went along with his $65 billion dollar fraud. A Swiss bank has already admitted it was complicit. The FDIC is investigating officials from banks that failed. Bank Of America just coughed up millions for financingan illicit bond scheme.

At the same time, the “Justice Department” (sic) has mounted an investigation into insider trading. They say there are 343 criminal investigations underway but none against big players. (The NY Times says they are “chasing small timers.)

ProRublica wites: “Everyone is wondering: Where are the investigations related to the financial crisis? John Hueston, a former lead Enron prosecutor, wonders: “Have they committed the resources in the right place? … Nobody from Lehman, Merrill Lynch or Citigroup has been charged criminally with anything.”

At the same time, Wikileaks is promising new revelations about financial chicanery at a major US bank that many suspect is Bank of America. On the housing front, many class action suits and investigations by state officials are challenging major fraudclosures.

The crimes of Wall Street may yet do the bonus babies in.

There is still a slim chance that, as the economy gets worse, the people of this country will finally get to see through the haze and the BS and act.

Neither the Democrats nor the Repugnicans seem to have any fresh ideas.

It’s up to us to break through our own illusions to fight the plunder of our country and world. We need to call for a jailout, not a bailout, of financial criminals –a full investigation followed by the prosecution of wrong doers. We need a campaign for economic justice.

If you are as disgusted by all this, as I am, it’s time to act. Will we? Will you?

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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The 99ers
« Reply #112 on: December 13, 2010, 02:40:38 PM »
http://www.prisonplanet.com/the-99ers.html

The 99ers

The American Dream
Dec 13, 2010

How much have things changed in America when we have to invent a new word to describe the hordes of Americans that have exhausted two years of unemployment benefits and yet still have not been able to find a new job? In America today, there are at least 1.5 million “99ers” – American workers that have completely exhausted all of their long-term unemployment benefits and that still do not have jobs. Some say that the true number of 99ers is actually much higher than that. In any event, almost everyone agrees that we have a huge problem on our hands. Unfortunately for the 99ers, the tax cut deal that Barack Obama has reached with the Republicans only extends the existing structure of long-term unemployment benefits. It does not include additional weeks of benefits for the 99ers.

So what does this mean? It means that a very large number of unemployed Americans will soon be hurting even more. At this point, the average size of an unemployment check across the United States is approximately $302.90 a week. That is not much, but now imagine desperately trying to survive and having even that little bit of income stripped away from you.

Over the next few years we could see literally millions of American families forced from their homes and on to the streets.

Not that any economy can afford to provide unemployment benefits for their citizens indefinitely. The truth is that the federal government has already spent a ton of money extending long-term unemployment benefits for as long as they have.

But what are we going to do about all of the Americans that simply cannot find jobs no matter how hard they try?

Are we just going to tell them to go join a tent city? Are we going to tell them to dig through trash cans for food that other people have thrown out?

In America today, there are approximately five unemployed workers for every single job opening. The truth is that there are not nearly enough jobs out there for everyone that wants one. In fact, it isn’t even close.

The U.S. economy does not provide enough jobs for all Americans anymore, and it probably never will again. It now takes the average unemployed American over 33 weeks to find a job. The number of long-term unemployed is absolutely exploding. As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer. Today, there are over 6 million Americans that have been unemployed for half a year or longer.

Take a moment and let those statistics sink in.

We are facing a national crisis of unprecedented magnitude.

For many Americans, the financial pressure that this “new economy” is creating is absolutely soul crushing.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline freedom_commonsense

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Wait, unemployment payments in the US are $300 a week? Try about 100 here, and that's not considering the problem of housing (unemployed people generally only find sanctuary in ghetto neighborhoods).

Offline Geolibertarian

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The New American Dream: Sprawling Tent Cities Filled With Tents Made In China
« Reply #114 on: December 14, 2010, 12:43:05 PM »
http://www.prisonplanet.com/the-new-american-dream-sprawling-tent-cities-filled-with-tents-made-in-china.html

The New American Dream: Sprawling Tent Cities Filled With Tents Made In China

The American Dream
Dec 14, 2010

What would you do if you had your job suddenly ripped away from you and you ended up losing your home?  Well, that is exactly what hundreds of thousands of families across America have found themselves facing during this economic downturn.  So what would you do?  Would you move in with relatives?  Would you join the ranks of those living in the tent cities that are popping up all over the nation?  Would you live in a van down by the river?  The truth is that with each passing month even more Americans find themselves pushed to the brink of absolute desperation.  For many of our fellow citizens, the American Dream has been reduced to finding some way to keep the rain off of them each night and finding someone who will be kind enough to give them some food during the day.

So why are so many Americans hurting?  Where did all the good jobs go?  Well, over the past couple of decades our new “global economy” has encouraged big corporations to move thousands of factories and millions of jobs out of the United States.  Many of the good jobs that these homeless and unemployed Americans used to do are now done on the other side of the world.  The ironic thing is that many of the tent cities that have bloomed in communities across the United States are filled with tents that were made in China.

Unfortunately, the tent cities that have grown up all over the nation are just a foretaste of what is coming in the future.  When the economy really collapses, millions more Americans are going to be living in conditions just like this….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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16 Nightmarish Economic Trends To Watch Carefully In 2011
« Reply #115 on: December 15, 2010, 02:44:50 PM »
http://www.prisonplanet.com/16-nightmarish-economic-trends-to-watch-carefully-in-2011.html

16 Nightmarish Economic Trends To Watch Carefully In 2011

The American Dream
Dec 15, 2010

If you only watch the “economic pundits” on television, it can be very confusing to figure out exactly what is happening with the U.S. economy.  One pundit will pull out a couple statistics that got a little bit better over the past month and claim that we have entered a time of solid recovery.  Another pundit will pull out a couple statistics that got a little worse over the past month and claim that we are headed for trouble.  So what is the truth?  Well, if you really want to get a clear idea of what is really going on you have to look at the long-term trends.  There are some economic trends which just keep getting worse year after year after year, and it is those trends that tell the real story of the decline of our economic system.

As you examine the long-term trends, you quickly come to realize that the U.S. is trapped in an endless spiral of debt, the middle class is being wiped out, the U.S. dollar is being destroyed and America is rapidly becoming a post-industrial wasteland.

Posted below are 16 nightmarish economic trends to watch carefully in 2011.  It is becoming exceedingly apparent that unless something is done rapidly we are heading for an economic collapse of unprecedented magnitude….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Unemployed and Uncounted
« Reply #116 on: December 15, 2010, 03:40:16 PM »
http://www.prisonplanet.com/unemployed-and-uncounted.html

Unemployed and Uncounted

Russia Today
Dec 15, 2010

The 9.8% unemployment rate in the United States may be closer to 20%, or 30 million Americans without a job. Those measured are those who had a job before, are actively looking for work and are immediately available for work. Despite Washington DC having a somewhat healthy economy, so many residents here are left behind without a job, an income or any hope that things will get better.

http://www.youtube.com/watch?v=4eU_X3FS8kE (Unemployed and Uncounted)
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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The number of job-seekers continues to far outnumber available job openings
« Reply #117 on: December 16, 2010, 03:46:14 PM »
http://www.prisonplanet.com/desperation-sets-in-more-than-100000-people-apply-for-low-paying-flight-attendant-positions-with-delta-air-lines.html

Desperation Sets In: More Than 100,000 People Apply For Low Paying Flight Attendant Positions With Delta Air Lines

The American Dream
Dec 16, 2010

All across America, job seekers are becoming increasingly desperate. Today, unemployed Americans often find themselves competing against hundreds or even thousands of other job applicants for the same position. An absolutely stunning example of this happened recently when more than 100,000 people applied for just 1,000 open flight attendant positions with Delta Air Lines. The starting salary for these positions is only “in the upper $20,000s”, and serving peanuts and sodas to cranky passengers can get really old really fast. But this just shows how desperate people are becoming. For many unemployed Americans, any job is a good job at this point. Right now there are approximately 5 unemployed Americans for every single job opening, and 6 million Americans have been out of work for 6 months or longer. When you get that many unemployed people fighting over so few positions the desperation in the air becomes almost palpable.

For most Americans, all they have to offer in the marketplace is their labor. But today there is a tremendous shortage of jobs. Even job openings that were once considered to be “undesirable” are now being flooded with applicants.

The following are some more examples of the desperation that is starting to set in around the nation….

*More than a thousand desperate job seekers recently lined up to apply for temporary positions paying between $8.25 to $9.75 per hour picking, packing and shipping orders for Zappos.com.

*One 54-year-old woman in California recently went to apply for one of four county clerk positions and discovered that she was competing against over 2000 other applicants for those four spots.

*Recently more than 500 desperate applicants submitted applications for just 120 positions at a new IHOP restaurant in the Washington, D.C. area. The new positions pay just $3.32 an hour plus tips.

*Several months ago, thousands upon thousands of people lined up at the crack of dawn for a chance to get an application for one of the 400 openings at Ford’s plant in Chicago’s Hegewisch neighborhood.

The positions only pay 15 dollars an hour plus benefits, but that was enough to draw massive crowds of job applicants. In fact, the crowds were so immense that many applicants were turned away without receiving an application even after waiting for many hours.

For example, 32-year-old Larry Smizer was sent home at 11 AM without an application even though he had been waiting in line since 7 AM. It turns out that there were so many thousands of people that had gotten there before him that there were no applications remaining when his turn finally came….

“I’ve been out of work since April, but there were a lot of people in line with me who were out longer than that.”

The truth is that the vast majority of Americans want to work. There are millions of hard working men and women across the United States sitting home tonight desperately hoping that someone will give them a chance.

But unfortunately, our economy is actually bleeding good jobs. Since the year 2000, we have lost 10% of our middle class jobs. In the year 2000 there were approximately 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.

So what is going to happen if the U.S. keeps losing large numbers of good jobs?

Many hard working Americans are now completely broke and have been pushed to the edge of desperation because of the lack of jobs. Just consider the following testimony from unemployedworkers.org….

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Re: The number of job-seekers continues to far outnumber available job openings
« Reply #118 on: December 16, 2010, 04:34:13 PM »
http://www.prisonplanet.com/desperation-sets-in-more-than-100000-people-apply-for-low-paying-flight-attendant-positions-with-delta-air-lines.html

Right now there are approximately 5 unemployed Americans for every single job opening, and 6 million Americans have been out of work for 6 months or longer. When you get that many unemployed people fighting over so few positions the desperation in the air becomes almost palpable.

One of the key reasons why ruling-class parasites are having such a ridiculously easy time economically ass-raping the masses is that We the People have yet to unite politically against them.

And one of the key reasons a critical mass of us have yet to unite is that far too many of our fellow citizens are too busy looking down their snooty little noses at whoever happens to be further down the economic ladder than they are at the moment.

For instance, how many times have you heard some blame-the-victim-firster wax self-righteous about what "lazy deadbeats" welfare recipients are -- as if to say that, contrary to reality, there are not far fewer job openings than there are people in need of employment?

Until enough of us stop looking for excuses to blame the victims of economic terrorism instead of the terrorists themselves, it will be business as usual for the parasitic ruling elite, and will consequently be just a matter of time before practically all of us are in a bitter, demoralizing struggle for mere survival, not just the bottom 40%.

-------------------------------

“That’s the way the ruling class operates in any society: they try to divide the rest of the people. They keep the lower and the middle classes fighting with each other, so that they, the rich, can run off with all the f**king money.

"Fairly simple thing; happens to work.

"You know, anything different, that’s what they’re gonna talk about: race, religion, ethic and national backgrounds, jobs, income, education, social status, sexuality -- anything they can do [to] keep us fighting with each other, so that they can keep going to the bank."


-------------------------------
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline freedom_commonsense

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Re: The number of job-seekers continues to far outnumber available job openings
« Reply #119 on: December 17, 2010, 02:17:03 PM »
One of the key reasons why ruling-class parasites are having such a ridiculously easy time economically ass-raping the masses is that We the People have yet to unite politically against them.

And one of the key reasons a critical mass of us have yet to unite is that far too many of our fellow citizens are too busy looking down their snooty little noses at whoever happens to be further down the economic ladder than they are at the moment.

For instance, how many times have you heard some blame-the-victim-firster wax self-righteous about what "lazy deadbeats" welfare recipients are -- as if to say that, contrary to reality, there are not far fewer job openings than there are people in need of employment?

Until enough of us stop looking for excuses to blame the victims of economic terrorism instead of the terrorists themselves, it will be business as usual for the parasitic ruling elite, and it will consequently be just a matter of time before practically all of us are in a bitter, demoralizing struggle for mere survival, not just the bottom 40%.

It was worse than that in the UK, 2,000 applicants applied for about three cashier jobs at one of the bailed-out banks (talk about irony).

I expect the riots here to worsen when the public sector workers get laid off in droves. I suppose as you pointed out previously, when these middle class yuppies and snobs also fall victim to the same economic terrorism, they'll be getting exactly what they deserve.