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

Author Topic: How do we eliminate the paradox of poverty & privation amid plenty & abundance?  (Read 221170 times)

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Offline Geolibertarian

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Extreme Inequality Helped Cause Both Great Depression and Current Depression
« Reply #120 on: December 18, 2010, 10:14:48 am »
http://www.prisonplanet.com/extreme-inequality-helped-cause-both-the-great-depression-and-the-current-economic-crisis.html

Extreme Inequality Helped Cause Both the Great Depression and the Current Economic Crisis

Washington’s Blog
Dec 18, 2010

It is clear that when banks become too big, it harms the economy. Economist Steve Keen says that “a sustainable level of bank profits appears to be about 1% of GDP”, and higher bank profits lead to a Ponzi economy and a depression.

But most mainstream economists dismiss the idea that wealth inequality among individuals causes economic crises.

Of course, some ideologues will argue that even discussing inequality is waging class warfare, and smacks of an attack on capitalism.

However, the father of modern economics – Adam Smith – disagreed.

And as Warren Buffet, one of America’s most successful capitalists and defenders of capitalism, points out:

       "There’s class warfare, all right, but it’s my class, the rich class, that’s making war …."

And as I have previously noted, radical concentration of wealth actually destroys capitalism, turning it instead into socialism for the rich.

Is There a Causal Connection Between Extreme Inequality and Economic Crises?

More to the point, most mainstream economists do not believe there is a causal connection between inequality and severe downturns.

But recent studies by Emmanuel Saez and Thomas Piketty are waking up more and more economists to the possibility that there may be a connection.

Specifically, economics professors Saez (UC Berkeley) and Piketty (Paris School of Economics) show that the percentage of wealth held by the richest 1% of Americans peaked [.pdf] in 1928 and 2007 – right before each crash:



As the Washington Post’s Ezra Klein wrote in June:

[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://webofdebt.com
http://schalkenbach.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 #121 on: December 18, 2010, 11:40:43 am »
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.

The real tragedy is how easily we could turn this around. If a critical mass of people would only look beyond their petty prejudices and realize who their common class enemy is, they (meaning "we") could finally unite in common purpose.

As Henry George so eloquently put it:

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

"...I am firmly convinced, as I have already said, that to effect any great social improvement, it is sympathy rather than self-interest, the sense of duty rather than the desire for self-advancement, that must be appealed to. Envy is akin to admiration, and it is the admiration that the rich and powerful excite which secures the perpetuation of aristocracies. Where tenpenny Jack looks with contempt upon ninepenny Joe, the social injustice which makes the masses of the people hewers of wood and drawers of water for a privileged few, has the strongest bulwarks. It is told of a certain Florentine agitator that when he had received a new pair of boots, he concluded that all popular grievances were satisfied. How often do we see this story illustrated anew in working-men's movements and trade-union struggles? This is the weakness of all movements that appeal only to self-interest.

"And as man is so constituted that it is utterly impossible for him to attain happiness save by seeking the happiness of others, so does it seem to be of the nature of things that individuals and classes can obtain their own just rights only by struggling for the rights of others. To illustrate: When workmen in any trade form a trades-union, they gain, by subordinating the individual interests of each to the common interests of all, the power of making better terms with employers. But this power goes only a little way when the combination of the trades-union is met and checked by the pressure for employment of those outside its limits. No combination of workmen can raise their own wages much above the level of ordinary wages. The attempt to do so is like the attempt to bail out a boat without stopping up the seams. For this reason, it is necessary, if workmen would accomplish anything real and permanent for themselves, not merely that each trade should seek the common interests of all trades, but that skilled workmen should address themselves to those general measures which will improve the condition of unskilled workmen. Those who are most to be considered, those for whose help the struggle must be made, if labor is to be enfranchised, and social justice won, are those least able to help or struggle for themselves, those who have no advantage of property or skill or intelligence, -- the men and women who are at the very bottom of the social scale. In securing the equal rights of these we shall secure the equal rights of all.

"Hence it is, as Mazzini said, that it is around the standard of duty rather than around the standard of self-interest that men must rally to win the rights of man. And herein may we see the deep philosophy of Him who bade men love their neighbors as themselves."


-------------------------------
"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://webofdebt.com
http://schalkenbach.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 #122 on: December 18, 2010, 12:23:57 pm »
The real tragedy is how easily we could turn this around. If a critical mass of people would only look beyond their petty prejudices and realize who their common class enemy is, they (meaning "we") could finally unite in common purpose.

Trying to discuss the single tax with a typical right-wing ideologue turned out to be a fruitless endeavour, because they insisted on reducing things to catchphrases such as "defective Marxist school of thought", regardless of what quotes or explanations I supplied.

Quote
As Henry George so eloquently put it:

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

I'd get a "TL;DR" to that or responses of confusion. Hell, some of these people are so stupid they probably couldn't get drunk in a wine cellar. As you said in the mind control section, a large portion are literally zombie-like thanks to brainwashing and chemical lobotomisation.

kurtaxis

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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.

This thread and one of the quoted responses above reminds me of New York City, you know the "progressive" place where the trendy live because they are rabid/avid consumers thumbing their noses at others.    New York City diligently works to hide its poverty by emphasizing tourism (consumption), not the expansion of quality jobs, as one of the bulwarks of its economy.  Most buy into this hype which of course leads to  super inflated rents, rising "costs",  and constantly increasing taxes -since it's cool and trendy to pay more taxes; which, of course, contributes to poverty.


Offline Geolibertarian

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Re: The number of job-seekers continues to far outnumber available job openings
« Reply #124 on: December 20, 2010, 02:31:01 pm »
Trying to discuss the single tax with a typical right-wing ideologue turned out to be a fruitless endeavour, because they insisted on reducing things to catchphrases such as "defective Marxist school of thought", regardless of what quotes or explanations I supplied.

Thus proving my point about the ridiculously false Austrian School "capitalism"-vs.-Marxist "socialism" paradigm.

Quote
I'd get a "TL;DR" to that

Which is another way of saying they prefer canned slogans and empty platitudes over actual substance. In that sense they're no different than the slogan-parroting Obama cultists of two years ago.

Quote
or responses of confusion.

Label-obsessed ideologues tend to be "confused" by any thought or idea that can't be reduced to a bumper sticker. Whether from the extreme Left or the extreme Right, such people are usually a waste of time.
"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://webofdebt.com
http://schalkenbach.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 #125 on: December 20, 2010, 03:06:22 pm »
Thus proving my point about the ridiculously false Austrian School "capitalism"-vs.-Marxist "socialism" paradigm.

I had more luck with colleagues at my blue collar job though.

Which is another way of saying they prefer canned slogans and empty platitudes over actual substance. In that sense they're no different than the slogan-parroting Obama cultists of two years ago.

The UK has a coalition government now, the Conservatives didn't get enough of a margin to run government on their own. Naturally the first thing that happened was fee\tax hikes across the board, and austerity measures set to kick in during 2011/12. That's going to add another million or so jobseekers to the pile here.

Label-obsessed ideologues tend to be "confused" by any thought or idea that can't be reduced to a bumper sticker. Whether from the extreme Left or the extreme Right, such people are usually a waste of time.

Yes, Labour v Conservative here is very much the same paradigm as Democrat v Republican in the US.


Offline Geolibertarian

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The Student Loan Debt Bubble and the Great College Education Scam
« Reply #126 on: December 21, 2010, 04:37:09 pm »
http://www.prisonplanet.com/16-shocking-facts-about-the-student-loan-debt-bubble-and-the-great-college-education-scam.html

16 Shocking Facts About The Student Loan Debt Bubble And TheThe Great College Education Scam

The American Dream
Dec 21, 2010

As you read this, there are over 18 million students enrolled at the nearly 5,000 colleges and universities currently in operation across the United States.  Many of these institutions of higher learning are now charging $20,000, $30,000 or even $40,000 a year for tuition and fees.  That does not even count living expenses.  Today it is 400% more expensive to go to college in the United States than it was just 30 years ago.  Most of these 18 million students have been told over and over that a “higher education” is the key to getting a good job and living the American Dream.  They have been told not to worry about how much it costs and that there is plenty of financial aid (mostly made up of loans) available.  Now our economy is facing the biggest student loan debt bubble in the history of the world, and when our new college graduates enter the “real world” they are finding out that the good jobs they were promised are very few and far between.  As millions of Americans wake up and start realizing that the tens of thousands of dollars that they have poured into their college educations was mostly a waste, will the great college education scam finally be exposed?

For now, the system continues to push the notion that a college education is the key to a good future and that there is plenty of “financial aid” out there for everyone that wants to go to college.

Recently, U.S. Secretary of Education Arne Duncan visited students at T.C. Williams High School in Alexandria, Virginia and encouraged them to load up on college loans….

    “Please apply for our financial aid. We want to give you money. There’s lots of money out there for you.”

So where will Arne Duncan be when those students find themselves locked into decades of absolutely suffocating student loan debt repayments?

What young high school students are never told is that not even bankruptcy can get you out of student loan debt. It will stay with you forever until you finally pay it off.

Today each new crop of optimistic college graduates quickly discovers that there are simply not nearly enough jobs for all of them. Thousands upon thousands of them end up waiting tables or stocking the shelves at retail stores. Many of them end up deeply bitter as they find themselves barely able to survive and yet saddled with tens of thousands of dollars in student loan debt that nobody ever warned them about.

Sadly, the quality of the education that most of these college students is receiving is a complete and total joke.

Take it from someone that has graduated from a couple of very highly respected institutions. I have an undergraduate degree, a law degree and another degree on top of that, so I know what I am talking about. Higher education in America has become so dumbed-down that the family dog could literally pass most college courses.

It is an absolute joke. The vast majority of college students in America spend two to four hours a day in the classroom and maybe an hour or two outside the classroom studying. The remainder of the time these “students” are out drinking beer, partying, chasing after sex partners, going to sporting events, playing video games, hanging out with friends, chatting on Facebook or getting into trouble. When they say that college is the most fun that most people will ever have in their lives they mean it. It is basically one huge party.

Of the little “education” that actually does go on, so much of it is so dedicated to pushing various social engineering agendas that it makes the whole process virtually worthless. Most parents would be absolutely shocked if they could actually see the kind of “indoctrination” that goes on inside U.S. college classrooms today.

A college education can be worth it for those in very highly technical or very highly scientific fields, or for those wanting to enter one of the very few fields that is still very financially lucrative, but for nearly everyone else it is just one big money-making scam.

Oh, but you parents please keep breaking your backs to put money into the college funds of your children so that they can be spoon-fed establishment propaganda all day and party like wild animals all night for four years.

It really is a huge scam. I was there. I saw it with my own eyes.

But if you will not believe me, perhaps you will believe some cold, hard statistics. The following are 16 shocking facts about the student loan debt bubble and the great college education scam….

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

kurtaxis

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Re: The number of job-seekers continues to far outnumber available job openings
« Reply #127 on: December 22, 2010, 12:40:59 pm »
Thus proving my point about the ridiculously false Austrian School "capitalism"-vs.-Marxist "socialism" paradigm.

Could you please point to some links critical to the Austrian School of Economics.  I read Ron Paul's book End The Fed where he touts that particular school of thought. 

kurtaxis

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Re: The Student Loan Debt Bubble and the Great College Education Scam
« Reply #128 on: December 22, 2010, 12:56:24 pm »
http://www.prisonplanet.com/16-shocking-facts-about-the-student-loan-debt-bubble-and-the-great-college-education-scam.html

16 Shocking Facts About The Student Loan Debt Bubble And TheThe Great College Education Scam

The American Dream

[Continued...]

Point #10 is interesting,  the student loan debt rate is similar to the cost of wars in Iraq and Afghanistan http://www.costofwar.com/.  I do not believe that most of them (students) consider or take college seriously after they graduate High School and treat it like the next natural stage in their education.  I would figure that the exorbitant "fees" in its various forms would be sobering since many of their parents can not pay the insane "costs" anymore that the students would have to be fleeced, but it is not the academic institutions of higher education alone that are this way.

I remember the vast commercials for non-academic technical schools that emerged a few years back promising financial aid and employment to prospects only to have its "truth" revealed in investigative reports.  Many of the students were unaware of the increasing high cost and the financial aid was primarily, if not only, in the form of loans with no guarantee of a job upon graduation.

One thing that would help students is a good dose of reality with a side of cynicism.

Offline Geolibertarian

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Re: The number of job-seekers continues to far outnumber available job openings
« Reply #129 on: December 22, 2010, 01:59:25 pm »
Could you please point to some links critical to the Austrian School of Economics.

You'll find several such links in the following thread:

       http://forum.prisonplanet.com/index.php?topic=192293.0
"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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

kurtaxis

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Re: The number of job-seekers continues to far outnumber available job openings
« Reply #130 on: December 22, 2010, 03:16:53 pm »

Offline freedom_commonsense

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There was me thinking an impending $15,000 per year for a technical degree was expensive (I currently pay $5,000 in fees).

As we've been discussing, having useful skills and experience isn't necessarily going to get you a job because of today's ponzi economy..

Offline Geolibertarian

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The Working Poor
« Reply #132 on: December 27, 2010, 10:19:03 am »
http://www.prisonplanet.com/the-working-poor.html

The Working Poor

Economic Collapse Blog
Monday, December 27, 2010

As the middle class in America continues to be slowly wiped out, the number of working poor continues to increase. Today, nearly one out of every three families in the United States is considered to be “low income”. Millions of American families are finding that they can barely make it from month to month even with both parents working as hard as they possibly can. Blue collar American workers from coast to coast are having their wages decreased at a time when it seems like the cost of virtually every monthly bill is going up. Unfortunately, there is every indication that things are only going to get worse and that average American families are going to be financially squeezed even more in the months and years to come.

The Working Poor Families Project has just released their policy brief for the winter of 2010-11 [.pdf]. What they have discovered is that the number of working poor in the United States is higher than they have ever seen it before and it continues to increase at a staggering pace. The following are some of the key findings for 2009 that were pulled right out of their report….

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Online Jackson Holly

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Re: How do we eliminate the paradox of poverty & privation amid plenty & abundan
« Reply #133 on: December 28, 2010, 10:23:10 am »
IMMIGRATION to the US ... legal and illegal ... simply cannot work
to alleviate poverty in other countries. It only increases the poverty
here in our own country, decreases and devalues our standard of
living and culture.

Please watch this short 6min
video which succinctly illustrates why:

http://www.youtube.com/watch?v=LPjzfGChGlE&feature=player_embedded

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

Offline Geolibertarian

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Everything Is Falling Apart: America’s Decaying Infrastructure
« Reply #134 on: January 05, 2011, 02:34:25 pm »
http://www.prisonplanet.com/everything-is-falling-apart-20-facts-that-you-will-not-want-to-read-if-you-still-want-to-feel-good-about-america%e2%80%99s-decaying-infrastructure.html

Everything Is Falling Apart: America’s Decaying Infrastructure

The Economic Collapse
Jan 5, 2011

If you haven’t noticed lately, America is literally falling apart all around us. Decaying infrastructure is everywhere. Our roads and bridges are crumbling and are full of holes. Our rail system is ancient. Our airports and runways have definitely seen their better days. Aging sewer systems all over the country are leaking raw sewage all over the place. The power grid is straining to keep up with the ever-increasing thirst of the American people for electricity. Dams are failing at an unprecedented rate. Virtually all of our ports are handling far more traffic than they were ever intended to handle. Meanwhile, our national spending on infrastructure is way down. Back during the 1950s and 1960s we were spending between 3 and 4 percent of our national GDP on infrastructure, but today we are spending less than 2.5 percent of our national GDP on it. According to the American Society of Civil Engineers, we need to spend approximately $2.2 trillion on infrastructure repairs and upgrades just to bring our existing infrastructure up to “good condition”.

Does anyone have an extra $2.2 trillion to spare?

If you get the feeling that America is decaying as you drive around this great country of ours, it is not just your imagination. It is literally happening.

You should not read the list of facts below if you want to keep feeling good about the condition of America’s infrastructure. There really is no way to sugar-coat what is happening. Previous generations handed us the greatest national infrastructure that anyone in the world has ever seen and we have neglected it and have allowed it to badly deteriorate.

This first set of facts about America’s decaying infrastructure was compiled from a fact sheet entitled “The Case For U.S. Infrastructure Investment” [.pdf] by an organization called Building America’s Future….

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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Re: Everything Is Falling Apart: America’s Decaying Infrastructure
« Reply #135 on: January 05, 2011, 03:10:27 pm »
http://www.prisonplanet.com/everything-is-falling-apart-20-facts-that-you-will-not-want-to-read-if-you-still-want-to-feel-good-about-america%e2%80%99s-decaying-infrastructure.html

According to the American Society of Civil Engineers, we need to spend approximately $2.2 trillion on infrastructure repairs and upgrades just to bring our existing infrastructure up to “good condition”.

If we had taken the advice of monetary reformer, Byron Dale, we could have hit two birds with one stone a long time ago:

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

http://www.wealthmoney.org/articles/what-would-happen/

If the American Transportation Act were passed you would no longer pay tax on gasoline, diesel or other fuels. You would pay no tax on oil products, no tollway fees, no axle taxes, license fees, or other taxes normally collected to pay for roads and bridges.



Taxes to build and maintain roads and bridges would no longer be collected. No more bonding would be necessary for road & bridge construction and maintenance....All new money would now be created and exchanged into circulation as a Wealth (debt-free) payment for the labor and raw resources used in combination to build and maintain our roads and bridges. These are a Wealth produced that benefit ALL citizens equally. This was the principle behind the 'monetizing' of gold and silver bullion Free as a Wealth to the people who produced it and a debt-free medium of exchange to ALL. The government would hold the roads and bridges in "trust" for the people who would thereafter use them free-of-charge with no taxation or fees of any kind. The new money would represent the Wealth of our Nation (peoples' labor and raw sources) just like gold certificates once represented the Wealth metal money produced by the people and deposited with the Treasury. The certificate represented the production and was as good as the Wealth (gold or silver) it represented.

An immediate multiple benefit would result in the forms of: Tax relief, increased consumer spendable income, a stimulated demand for production and employment, lower freight charges, lower retail prices. Freight charges would be lower to retailers, retail prices would be lower to consumers. Prices would start coming down at the same time more money was becoming available for purchasing. The debt would start coming out of the system as we slowly stopped the creation of all money as interest-bearing debts and simultaneously put all new money into circulation as debt-free Wealth based upon work completed that benefitted everyone equally.

Taxes on loans normally used to build roads and bridges would be replaced with brand new money created and available only for payment in exchange for road and bridge work completed to bid specifications.

This new Debt-Free money created as payment for roads and bridges necessary to move our production and our people would provide the medium of exchange necessary to pay our otherwise "unpayable" bank-credit debts and pay the debt out of the system.

[Continued...]

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

Unfortunately, when it comes to public policy reform, most people are still in the fatal habit of sheepishly letting one or the other of the two banker-owned major parties dictate to them what their options are.

Isn't that right, "lesser evil voters"?  ::)
"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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline egypt

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America used to be so beautiful.  Now, so much looks like 3rd World War Zone.

No labor representation means wages that are not fair, hours that sap all your time & energy... and, still Mom & Dad can't work furiously enough to make ends meet.

I remember paid-for health care, doctor visits of choice & being able to pay for those doctor visits.  It was also a world where day care was unheard of, moms were home when kids came home from school, kids learned to read and write at school, kids had physical education and recess along with many classes being held outside when the weather was nice, schools provided all the necessary supplies, one pulled in for gasoline and the air in tires was checked, the oil was checked, windshield was washed & the gas put in while waiting in the car, payment was given and change run back while waiting in the car & they would let you know if you needed wiper fluid.

I'd like to see a better America again.  Even better than before.  We were in decline way back then, already.  Get rid of the problem and watch what Humanity can become.

Love, e

Offline freedom_commonsense

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You should see British rail, you'd think we never invented the train. There's rolling stock that's over 50 years old in some places, and track that hasn't been changed since the Victorian era. So much for taxpayer subsidisation and constant fare hikes meaning better service. Maybe people will start to move away from it with the recent increases of 10-70% on various routes.

Offline Geolibertarian

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Spinning Unemployment in a Collapsing Empire
« Reply #138 on: January 10, 2011, 01:08:25 pm »
http://www.prisonplanet.com/spinning-unemployment-in-a-collapsing-empire.html

Spinning Unemployment in a Collapsing Empire

Paul Craig Roberts
Prisonplanet.com
Jan 10, 2011

The Bureau of Labor Statistics (BLS) reported Friday that the economy gained only 103,000 new jobs in December—not enough to keep up with population growth—but the rate of unemployment (U.3) fell from 9.8% to 9.4%. If you are confused by the report, you are among the many.

In truth, what fell was not the number of unemployed people but the number of unemployed people who are actively looking for work. Those who have become discouraged and have ceased looking for work are not considered to be in the work force and are not counted as unemployed in the U.3 measure. The unemployment rate fell because discouraged workers increased, not because employment rose.

The BLS counts short-term discouraged workers (less than one year) in its U.6 measure of unemployment. That unemployment rate is 16.7%. When statistician John Williams (shadowstats.com) adds the long-term discouraged, the US unemployment rate as of December 2010 was 22.4%.

The question to ask yourself is: why does the media focus on the unemployment measure that does not count any discouraged workers? The answer is that the U.3 measurement only counts 42% of the unemployed and makes the situation appear to be a lot better than it is.

Where are the 103,000 new jobs? As I have reported for years, the jobs are in non-tradable domestic services: waitresses and bar tenders, health care and social assistance (primarily ambulatory health care services), and retail and wholesale trade.

Today the United States has only 11,670,000 manufacturing jobs, less than 9% of total jobs. Yet, despite America’s heavy dependence on foreign manufactures and foreign creditors, the idiots in Washington think that they are a superpower standing astride the world like a colossus.

John Williams reports that

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

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For Millions Of Seniors The Only Future Is One Filled With Debt And Poverty
« Reply #139 on: January 10, 2011, 07:42:13 pm »
http://www.prisonplanet.com/for-millions-of-senior-citizens-the-only-future-they-have-to-look-forward-to-is-one-filled-with-debt-and-poverty.html

For Millions Of Senior Citizens The Only Future They Have To Look Forward To Is One Filled With Debt And Poverty

The American Dream
Jan 10, 2011

In America today, millions upon millions of senior citizens are very deep in debt. In fact, more elderly Americans than ever before are going bankrupt. Millions of others are living in extreme poverty or are just barely getting by on meager fixed incomes. Meanwhile, the price of food is going up, the price of gasoline is going up, the cost of heating homes is going up and health insurance premiums are absolutely soaring. Millions of our senior citizens suddenly find themselves financially squeezed more than they ever have been in their entire lives. Unfortunately, at the same time all of this is happening, our government officials are realizing that they simply don’t have the money to keep the financial promises that they have been making to our retirees. Sadly, what this all means is that for millions of our senior citizens, the only future they have to look forward to is one filled with debt, poverty and financial pain.

One recent survey conducted by CESI Debt Solutions discovered that 56 percent of American retirees still had outstanding debts when they retired. That is a shockingly high number. Retirement is not supposed to be about debt. In fact, it is hard enough to try to survive on a fixed income without having to worry about debt payments. But now most Americans that retire do so with debt still on the books.

What is even more sad is that an increasing number of senior citizens are going bankrupt. A recent study by a law professor from the University of Michigan found that Americans that are 55 years of age or older now account for 20 percent of all bankruptcies in the United States. Back in 2001, they only accounted for 12 percent of all bankruptcies. This is obviously very troubling news. In fact, between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.

Many elderly Americans are under such financial stress these days that they have simply decided never to retire. According to a recent AARP survey of Baby Boomers, 40 percent of them plan to work “until they drop”.

What about you?

Do you plan to work until you drop?

If not, how are you going to make it?

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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20 Shocking New Economic Records That Were Set In 2010
« Reply #140 on: January 14, 2011, 02:32:40 pm »
http://www.prisonplanet.com/20-shocking-new-economic-records-that-were-set-in-2010.html

20 Shocking New Economic Records That Were Set In 2010

The Economic Collapse
Jan 14, 2011

2010 was quite a year, wasn’t it?  2010 will be remembered for a lot of things, but for those living in the United States, one of the main things that last year will be remembered for is economic decline.  The number of foreclosure filings set a new record, the number of home repossessions set a new record, the number of bankruptcies went up again, the number of Americans that became so discouraged that they simply quit looking for work reached a new all-time high and the number of Americans on food stamps kept setting a brand new record every single month.  Meanwhile, U.S. government debt reached record highs, state government debt reached record highs and local government debt reached record highs.  What a mess!  In fact, even many of the “good” economic records that were set during 2010 were indications of underlying economic weakness.  For example, the price of gold set an all-time record during 2010, but one of the primary reasons for the increase in the price of gold was that the U.S. dollar was rapidly losing value.  Most Americans had been hoping that 2010 would be the beginning of better times, but unfortunately economic conditions just kept getting worse.

So will things improve in 2011?  That would be nice, but at this point there are not a whole lot of reasons to be optimistic about the economy.  The truth is that we are trapped in a period of long-term economic decline and we are now paying the price for decades of horrible decisions.

Amazingly, many of our politicians and many in the mainstream media have declared that “the recession is over” and that the U.S. economy is steadily improving now.

Well, if anyone tries to tell you that the economy got better in 2010, just show them the statistics below.  That should shut them up for a while.

The following are 20 new economic records that were set during 2010….

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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The Class War Launched by America's Wealthiest
« Reply #141 on: January 15, 2011, 10:13:15 am »
http://www.globalresearch.ca/the-class-war-launched-by-america-s-wealthiest/22804

The Class War Launched by America's Wealthiest

by Larry Beinhart
Global Research, January 14, 2011
AlterNet  

We’re in a class war.

It’s the corporations and the very wealthiest against all the rest of us. We’re losing.

In 1962 the wealthiest 1 percent of American households had 125 times the wealth of the median household. Now it’s 190 times as much. Is that a case of a rising tide lifting all boats, just a few of them a little bit higher? No.

From 1950 to 1965, median family income rose from $24,000 a year to $38,000 a year. That’s close to 4 percent a year, close to 60 percent over 15 years. That’s a rising tide.

In 1964 there was a big tax cut. That’s when things started to slow down for average people. By the mid-'70s the rise of the middle class stalled. From 1975 to 2010 median family income rose $42,936 to $49,777. That’s not quite 16 percent over 25 years, less than six-tenths of 1 percent per year.

Briefly, when taxes went up under Clinton, median income rose, peaked at $52,587 in 1999, and then, after Bush cut taxes, declined. Keep in mind that this is median family income. In the '50s and '60s, family income was usually earned by a single person. Today, family income normally comes from at least two people.

At the same time, income for the richest soared. In 1979 the richest 1 percent of Americans earned 9 percent of all U.S. income. Now they earn 24 percent of all U.S. income. One percent of Americans earn nearly one-fourth of all the income in the country.

Then came the crashes of 2001 and 2008 and the recessions that followed.

The crash hasn’t changed anything. Things have become worse.

From 1990 to 2005, adjusted for inflation -- the minimum wage is down 9 percent, production workers’ pay is up only over 15 years 4.3 percent.

At the same time, the rich get richer:

Corporate profits are up 106.7 percent. The S&P 500 is still up 141.4 percent since 1990. CEO compensation is up 282 percent. Call it transfer of wealth. Or call it class warfare.

What’s wrong with the rich getting richer?

Slate's Timothy Noah, in "The United States of Inequality," wrote, “Income distribution in the United States [has become] more unequal than in Guyana, Nicaragua, and Venezuela, and roughly on par with Uruguay, Argentina, and Ecuador.”

Take a look at that list.

Countries with wide income inequality don’t lead the world in research, technology, industry, and innovation. They’re unstable. They have large underclasses. They have high rates of crime. They have little opportunity.

In such countries the rich have disproportionate power. They take control of all aspects of society, especially government, the police, and the judiciary. They become self perpetuating.

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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http://www.globalresearch.ca/wall-street-celebrates-record-profits/22836

Wall Street Celebrates Record Profits

by Tom Eley



Global Research
January 18, 2011

JPMorgan Chase’s profit report for 2010, released Friday, has become the occasion for a celebration by the American plutocracy of the return of the good old days before the Wall Street crash of 2008. Jamie Dimon, JPMorgan’s CEO, summed up the general mood of the financial elite when he declared the bank’s record profits to be evidence of a “broad-based economic recovery,” adding, “I think the future is extremely bright.”

The very fact that Dimon can speak this way in the midst of the worst social crisis since the Great Depression without any repercussions from the government or the media is an expression of the immensity of the chasm separating the modern-day aristocrats from the people.

Such remarks—under conditions where the official unemployment rate is hovering around 10 percent, hunger and poverty are soaring, record numbers of homes are being seized by the banks, household wealth is being devastated by the collapse in home values, wages are declining, and school closures and cuts in social services are spreading across the country—could come only from someone secure in knowledge that the Obama administration, both political parties, Congress and all of the other official institutions are securely in his pocket.

JPMorgan’s announcement kicked off a week of earnings reports that is expected to show that 2010 was a record-setting year for America’s banks and corporations.

The banking giant reported a 48 percent increase in profits over 2009 and a 47 percent increase for the fourth quarter of 2010 over the same period the previous year. JPMorgan netted a profit for the year of $17.4 billion, a figure equivalent to the gross domestic product of Bolivia. Its fourth quarter performance lifted the stocks of the other major banks, including Bank of America, Citigroup and Wells Fargo, which are slated to release their 2010 results this week.

The New York Times reported, “Across the company, bankers expect to reap the benefits” of “the most profitable year in the history of JPMorgan.” Out of more than $102 billion in revenue, some $28.1 billion has been set aside to compensate employees, “much of which will be paid out as bonuses.” Employees in JPMorgan’s investment banking wing are taking home an average of nearly $370,000 for 2010, while top executives “can still expect to collect multi-million-dollar bonus checks.”

The profit windfall in the financial sector is part of a broader surge in US corporate profits, which analysts estimate rose 27.1 percent in the fourth quarter, nearly triple the median profit growth since 1988. This comes on the heels of record-setting year-over-year profit increases (37 percent, 51 percent and 92 percent) reported for the first three quarters of 2010.

For the broad mass of the population, there are records of a different sort. The official unemployment rate has been higher than 9 percent for 20 straight months, the longest such span since the Great Depression. Home prices have fallen by 26 percent since June of 2006, breaking the record 25.9 percent decline that took place in the Depression between 1928 and 1933. Household wealth has fallen precipitously and the official poverty rate is as high as it was in the mid-1960s.

From day one, the policy of the Obama administration has been to utilize the economic crisis to effect a vast restructuring of class relations in favor of the financial elite. While ruling out any serious measures to put the unemployed to work, Obama has overseen the funneling of trillions of dollars to the banks, intervened to block legislation limiting bonuses at banks bailed out with taxpayer funds, and given the signal for a campaign of wage cutting across the country by imposing a 50 percent wage reduction on newly hired auto workers as part of the government bailout of General Motors and Chrysler.

The administration has refused to provide significant aid to states and localities facing gaping budget deficits as a result of the recession, tacitly supporting cuts in jobs, wages and pensions for teachers and other public employees and crippling cuts in social services.

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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http://www.prisonplanet.com/no-jobs-no-hope-no-future-27-signs-that-america%e2%80%99s-poverty-class-is-rapidly-becoming-larger-than-america%e2%80%99s-middle-class.html

No Jobs, No Hope, No Future: 27 Signs That America’s Poverty Class Is Rapidly Becoming Larger Than America’s Middle Class

The American Dream
Jan 25, 2011

Today America is very, very frustrated.  In fact, we probably have not seen this level of anger in the country since World War 2 ended.  So why are so many Americans so frustrated and so angry right now?  Well, for most Americans it comes down to the economy.  Very few things are more frustrating than not being able to find a job that will enable you to pay the mortgage and feed your family.  Middle class Americans that do have a little bit of money are digging into their savings and investments at a staggering rate as they desperately try to keep their heads above water.  Millions of other families that do not have a “safety cushion” are on the verge of losing their homes or have already been callously tossed out onto the streets by big, greedy banks.  Meanwhile, our politicians continue to burden us with increasingly larger amounts of government debt and they stand idly by as our jobs and our industries are shipped overseas.  So even though the mainstream media seems absolutely puzzled by the growing anger in America, the truth is that it is not a great mystery.  The economy is an absolute nightmare, and if it gets even worse people are going to become even more angry.

The mainstream media and our top politicians are running around proclaiming that the economy has turned around, and yet all of the important long-term economic numbers continue to get worse.  Do they think that the American people are stupid?

Perhaps they are just trying to be “optimistic” and are trying to get us all to “believe” in the economic recovery.

Well, while it certainly does not hurt to “stay positive” and to “have faith” when there is some basis in reality for doing so, but what the mainstream media is asking us all to do is to stick our heads in the sand and to pretend that all of our horrific economic problems are not even there.

Until we recognize exactly what our problems are and how bad they have gotten we will never be able to come up with the appropriate solutions.

Our economy does not just need a “tweak” or two.  Our economy is a total nightmare at this point.

The following are 20 things about our nightmare of an economy that you will not want to read if you do not want to become very, very angry….

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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Inequality In America Is Worse Than In Egypt, Tunisia Or Yemen
« Reply #144 on: January 29, 2011, 10:51:48 am »
http://www.infowars.com/inequality-in-america-is-worse-than-in-egypt-tunisia-or-yemen/

Inequality In America Is Worse Than In Egypt, Tunisia Or Yemen

Washington’s Blog
January 29, 2011

Egyptian, Tunisian and Yemeni protesters all say that inequality is one of the main reasons they’re protesting.

However, the U.S. actually has much greater inequality than in any of those countries.

Specifically, the “Gini Coefficient” – the figure economists use to measure inequality – is higher in the U.S.


[Click for larger image]

Gini Coefficients are like golf – the lower the score, the better (i.e. the more equality).

According to the CIA World Fact Book, the U.S. is ranked as the 42nd most unequal country in the world, with a Gini Coefficient of 45.

In contrast:

    • Tunisia is ranked the 62nd most unequal country, with a Gini Coefficient of 40.

    • Yemen is ranked 76th most unequal, with a Gini Coefficient of 37.7.

    • And Egypt is ranked as the 90th most unequal country, with a Gini Coefficient of around 34.4.

And inequality in the U.S. has soared in the last couple of years, since the Gini Coefficient was last calculated, so it is undoubtedly currently much higher.

So why are Egyptians rioting, while the Americans are complacent?

Well, Americans – until recently – have been some of the wealthiest people in the world, with most having plenty of comforts (and/or entertainment) and more than enough to eat.

But another reason is that – as Dan Ariely of Duke University and Michael I. Norton of Harvard Business School demonstrate [.pdf] – Americans consistently underestimate the amount of inequality in our nation.

As William Alden wrote last September:

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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Record Pay for Wall Street Executives in 2010. Obama cultists silent as always.
« Reply #145 on: February 05, 2011, 11:06:59 am »
http://www.globalresearch.ca/record-pay-for-wall-street-executives-in-2010/23064

Record Pay for Wall Street Executives in 2010

by Tom Eley
Global Research
February 4, 2011

While the great majority of the American population is suffering from the consequences of mass unemployment, pay-cutting, record foreclosures, and ruthless cuts to all forms of social spending, America’s corporate elite are flush with record pay and profits.

According to a new study by the Wall Street Journal, total compensation handed out to employees at publicly traded Wall Street banks hit a record $135 billion in 2010, an increase of 5.7 percent over the combined payout in 2009.

The $135 billion in “compensation” given to the lords and ladies of Wall Street is $10 billion more than the combined budget deficit of $125 billion facing 44 states and the District of Columbia for fiscal year 2012—budget deficits that will be used to cut funding for schools, food stamps for the hungry, health care for the poor and working class, and unemployment compensation for the jobless.

One firm, Bank of America, paid out $35.1 billion in compensation alone. The figure is equivalent to the combined budget deficits of California and Illinois, which are together home to 50 million people.

In compiling the data, the Wall Street Journal analyzed 2010 financial reports from 25 Wall Street banks with stock-market evaluation of at least $1 billion. The 25 have a combined value of $750 billion, or 85 percent of the banking industry’s stock market value.

The payout to executives was about one third of the total $417 billion in Wall Street bank revenue in 2010, another record. This figure, the financial haul of America’s 25 biggest banks, is about twice the size of the 2010 GDP of Egypt, with a population of 80 million.

For top bankers, eight-figure payouts are once again the norm. Lloyd Blankfein, CEO of Goldman Sachs, took home about $14.6 million in 2010, $12.6 million of it in the form of a corporate shares-based bonus. His pay package is about 340 times the median US income of $43,000.

The incomprehensible wealth making its way into the pockets of executives at publicly traded firms pales in comparison to the payouts given to the managers of hedge funds, investment groups generally only open to top investors who are even less subject to regulation than the finance industry as a whole.

One hedge fund manager, John Paulson, netted nearly $5 billion in personal profit in 2010. By way of comparison, with symphonies, museums, and parks being shut down across the country, Paulson’s income was about 31 times the $161 million Obama has proposed for 2011 funding for the National Endowment for the Arts, a $6 million cut from last year.

Several other hedge fund managers also received personal compensation in the billions, according to the Wall Street Journal. David Trapper of Appaloosa Management, Ray Dalio of Bridgewater Associates, and James Simons of Renaissance Technologies each made between $2 billion and $3 billion, it reports.

And how do these hedge fund managers “earn” this money? Paulson’s eponymous Paulson & Paulson Co. and other hedge funds “made winning bets on commodities,” including gold, according to the Journal. In other words, profiting from the “quantitative easing” bond buy-back program from the Federal Reserve Board, the hedge funds speculated in US Treasuries on one side, and foodstuffs and other commodities, on the other. This has resulted in a catastrophe for people the world over who can no longer afford the goods that sustain their lives.

For Paulson and his ilk, money is to be made on the way up and on the way down, by betting “short” on certain kinds of investments—and thus helping to precipitate crashes—and by going “long” on others. As the Journal notes, though a record, his “performance last year... paled in comparison to his 2007 returns, when Mr. Paulson made a huge wager against subprime mortgages and his funds scored gains of as much as 590 percent.”

Nonetheless, last year found the hedge-fund industry “back on its feet after a rough stretch,” the leading US business newspaper explains. “Assets managed by hedge funds have grown to a near-record $1.92 trillion, up 20 percent over the past year. Assets jumped almost $150 billion in the fourth quarter alone, the largest quarterly growth on record, according to Hedge Fund Research, Inc.”

On Tuesday, the Dow Jones Industrial Average, the most prominent measure of US securities, crossed 12,000 points for the first time since June of 2008, largely based on a steady stream of record corporate profit reports in recent weeks. Share values are up an astonishing 84 percent since their post-financial crisis nadir of March 2009.

The “turnaround” since March 2009, which has been solely to the benefit of the financial elite, is not due to the mysterious workings of the market but to the conscious intervention of the Obama administration.

[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://webofdebt.com
http://schalkenbach.org
http://forum.prisonplanet.com/index.php?topic=203330.0

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Re: How do we eliminate the paradox of poverty & privation amid plenty & abundan
« Reply #146 on: February 05, 2011, 11:16:23 am »
^ ^ ^ ^

Unlimited, runaway usury and working the International slave market

can be quite profitable! Those Wall Street Executives Whores

sold their worthless souls to the Devil long ago ... our only consolation,

is knowing that, if there is indeed any righteous justice in this Universe,

they will spend eternity burning in Hell.

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

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A Heartbreaking Example Of How The Economic Collapse Is Destroying Lives
« Reply #147 on: February 07, 2011, 10:15:31 am »
http://www.prisonplanet.com/ashley%e2%80%99s-tragic-story-a-heartbreaking-example-of-how-the-economic-collapse-of-america-is-destroying-lives.html

Ashley’s Tragic Story: A Heartbreaking Example Of How The Economic Collapse Of America Is Destroying Lives

The Economic Collapse
Feb 7, 2011

What you are about to read is perhaps the most heartbreaking story that I have ever come across. It is so tragic that I am not even quite sure how to introduce it. Some time ago, a reader named Ashley sent me an email that described the nightmare that she has been living through over the past year. Ashley’s email was very different from the vast majority of emails I usually receive, and I wrote her back right away and asked her some questions. One of the most important questions I asked was whether or not she really wanted me to share her story with the public. Privacy is such a precious thing, and I wanted her to understand that if I shared her story that thousands upon thousands of people would end up seeing it. After considering what I had to say, Ashley said that she was 100% sure that I should share her story because she felt that it could really help some people.

Sometimes it can be really easy to get lost in the economic numbers and to forget that this economy is really and truly destroying lives. The truth is that there are millions of Americans out there today that are hurting just like Ashley is. Her story is more dramatic than most, but that doesn’t mean that we all don’t know someone that could use our help. We have lost our sense of community in America, and thousands upon thousands of people like Ashley are falling through the cracks.

I cannot even imagine going through the things that Ashley has had to go through over the past year.  If you think about it, please say a prayer for her.  Also, let this story be an inspiration to all of us to stop being so cold-hearted and to help out those in need that are all around us.

The following is Ashley’s story as told in her own words….

*****

Dear Michael,

My name is Ashley. I live in Upstate New York I have been reading your Economic Collapse blog for the past year. Everything that you have said is true. Our economy is dying, and the economic collapse has destroyed the lives of many, many people. I should know. I am one of them. I lost my house, my car, my feet and my father, all in just seven months.

My father and I had a great life together. He raised me as a single parent. My mother died while giving birth to me. So it was just him and me as I was growing up, and things were wonderful for us, but then everything changed.

In September of 2009, my father was laid off from his job after 26 years. He tried so hard to find another job, but he just couldn’t get one. The economy was too horrible. As a result of the loss of income, he was unable to continue making the mortgage and car payments. Our car was repossessed, and not long after that, the bank foreclosed on us and we lost our house.

We moved into a low rent, hole in the wall apartment and lived off of his savings and his unemployment benefits for the next few months. Finally, in December of 2009, I was lucky enough to get a part time job at a pizza place. It was a really long walk from our apartment, but we needed the money badly. So I took the job.

By mid winter, my old snow boots, which had successfully lasted me through several terrible winters, were beginning to rapidly deteriorate. They had holes all over them and they were splitting at the seams. My feet were soaked and freezing all day long. At that point, we were lucky to have food on the table. We had to watch every penny. We couldn’t afford to get me new boots. So I had to make do with the ones I had. My father worked feverishly to try and repair them. He spent hours supergluing them duct taping them. In addition to that, I doubled up on socks and wore plastic bags inside my boots, but nothing did any good. My feet still got drenched.

One morning, in mid February of 2010, I took the last walk I would ever take on my own two feet. There was a huge blizzard raging outside, but we couldn’t afford to lose a day’s worth of pay. So I ventured out into the blizzard and made the long trudge to work anyway. As usual, my feet were drenched and freezing within minutes of leaving my apartment, but there was no choice but to just stick it out. So I kept going. I finally arrived at work to find the place closed. Nobody had called to tell me. There was nothing to do but turn around and make the long trudge back home. By the time I got home, I knew that something was seriously wrong with my feet. They felt horrible. My father helped me out of my drenched boots and socks and we discovered that my feet were all purple and swollen. They were severely frostbitten.

My father was terrified to take me to the emergency room because that would have bankrupted us. So he did everything he could to try and rewarm my feet at home. He spent the next several days giving me hot chocolate, bundling my feet up in blankets, putting my feet on his stomach, etc. But nothing did any good. My feet didn’t get any better. They just kept getting worse. They eventually turned black and began to ooze. At that point, my father broke down and called a car service to take us to the hospital. The doctors told us that, given the extent of the damage, they would not able to save my feet. The frostbite had progressed too far. I ended up having both of my feet amputated.

For the next whole month, my father didn’t do anything but sob. He sobbed himself to sleep every night. He blamed himself for me losing my feet. I rolled myself into his room on my wheelchair every night and wrapped my arms around him as tight as I could. I told him that it wasn’t his fault and that I didn’t blame him for anything. I told him he was the best father any girl could ever have and that I wouldn’t trade him for anything. I think it helped a little in the moment, but as time went on, he just fell further and further into depression.

On the morning of March 15th, 2010, I was awakened by a knock on the door from a police officer. He told me that my father was dead. I told the officer that was ridiculous and that there had been a mistake, but he insisted that my father was dead and that I should come with him. I went racing into my father’s room as fast as my wheelchair could carry me, but he was gone. There was a note on his bed that he had left for me. In the note, he told me that he loved me dearly. He loved me more than anything, but that he had failed me. He told me that I would be better off without him. At that moment, my heart stopped as I began to realize what must have happened. Horrified, I made my way back to the police officer, and he told me that my father had jumped out the window of our apartment in the middle of the night. I went into shock and begged the police officer to let me see him, but he insisted that I wouldn’t want to see him that way. I started sobbing so hard that the police ended up having to take me to the hospital.

I’ve cried myself to sleep every night since. I’ll never understand how my father could have thought that I’d be better off without him. If only he had known how much I needed him. If it wasn’t for my extremely kind hearted and caring neighbor, I don’t know where I would be right now. She’s such a sweet lady. After I lost my father, she took me in and took care of me as though I were her own family. She has gradually helped nurse me back to health, both physically and mentally.

This is probably going to sound really crazy, but throughout this past year, you have been one of my heroes, Michael. As devastating as the truth of your words may be, it is refreshing that somebody has the good sense and the good judgement to come forward and say them. All the government and the media do is lie to us, every single day. I only wish more people would listen to you and heed your warnings. Feel free to post my story on your blog if you would like. You have my permission to do so. I just ask that you not reveal my full name and my email address. Just use my first name. Perhaps my story will serve some purpose in the way of helping to wake some of these idiots up and getting them to realize that this nightmare is real.

Best Regards,

Ashley
"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

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10 Reasons Why The Latest Unemployment Numbers Are No Reason To Cheer
« Reply #148 on: February 08, 2011, 07:34:13 pm »
http://www.infowars.com/10-reasons-why-the-latest-unemployment-numbers-are-no-reason-to-cheer/

10 Reasons Why The Latest Unemployment Numbers Are No Reason To Cheer

Economic Collapse
Feburary 7, 2011

The U.S. government is telling us that the unemployment rate fell all the way down to 9.0% in January.  Should we all cheer?  Is it now going to be a lot easier to find a job?  Has the economy finally turned around?  Are happy days here again?  Well, it is a good thing to have a positive attitude, but the truth is that there is just not much to cheer about when you take a closer look at the recent unemployment numbers.  First of all, the U.S. economy only added 36,000 jobs in January.  Economists had been expecting an increase of about 145,000 jobs, and an increase of 150,000 jobs per month is necessary just to keep up with population growth.  So why did the unemployment rate go down?  Well, the government says that over half a million Americans suddenly dropped out of the labor force in January.  That doesn’t make a lot of sense, but this is how the government calculates their numbers.  So what happened to those 500,000 Americans?  Did they all win the lottery?  Have they all become independently wealthy?  Did they all die?  No, the vast majority of them are still around and the vast majority of them still desperately need jobs.  It is just that the government does not count them as “looking for work” anymore.

It would be great if the employment situation in America actually was getting better.  All the time people send me absolutely heartbreaking stories about what they have had to endure in this economy.  Soon I hope to share some of those stories with you all.  It is hard to try to describe the absolute horror that many Americans are going through right now.

People would like to believe that things are going to get better, but unfortunately that is just not going to be the case.  The government can try to massage the numbers to make them look better, but the truth is that the tens of millions of American families that are deeply suffering right now are not fooled.

The following are 10 statistics that reveal that the latest unemployment numbers from the government are no reason to cheer….

[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

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Social Inequality Causes Economic Crashes
« Reply #149 on: February 15, 2011, 12:34:27 pm »
http://www.globalresearch.ca/social-inequality-causes-economic-crashes/23228

Social Inequality Causes Economic Crashes

by Washington’s Blog
Global Research
February 14, 2011

John Kenneth Galbraith and Marriner Eccles Explained 50 Years Ago that Inequality Causes Crashes
 
In his definitive study of the Great Depression, The Great Crash, 1929, John Kenneth Galbraith wrote:

    There seems little question that in 1929, modifying a famous cliche, the economy was fundamentally unsound. This is a circumstance of first-rate importance. Many things were wrong, but five weaknesses seem to have had an especially intimate bearing on the ensuing disaster. They are:

    (1) The bad distribution of income. In 1929 the rich were indubitable rich. The figures are not entirely satisfactory, but it seems certain that the five per cent of the population with the highest incomes in that year received approximately one-third of all income. The proportion of personal income received in the form of interest, dividends, and rent – the income, broadly speaking, of the well-to-do – was about twice as great as in the years following the Second World War.

    This highly unequal income distribution meant that the economy was dependent on a high level of investment or a high level of luxury consumer spending or both. The rich cannot buy great quantities of bread. If they are to dispose of what they receive it must be on luxuries or by way of investment in new plants and new projects. Both investment and luxury spending are subject, inevitably, to more erratic influences and to wider fluctuations than the bread and rent outlays of the $25-week workman. This high bracket spending and investment was especially susceptible, one may assume, to the crushing news from the stock market in October 1929.

Galbraith wrote that in 1954.

Marriner S. Eccles - Federal Reserve chairman from 1934 to 1948 - made a similar point in his 1951 book Beckoning Frontiers:

    As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth -- not of existing wealth, but of wealth as it is currently produced -- to provide men with buying power equal to the amount of goods and services offered by the nation's economic machinery. Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. This served them as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants. In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.

Numerous prominent economists in government and academia have since agreed that large inequalities can cause - or at least contribute to - financial crises, including:

[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

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http://www.prisonplanet.com/47-statistics-that-indicate-that-economic-stress-points-in-2011-could-be-setting-the-stage-for-a-global-economic-meltdown-in-2012.html

47 Statistics That Indicate That Economic Stress Points In 2011 Could Be Setting The Stage For A Global Economic Meltdown In 2012

The American Dream
Feb 16, 2011

Is the world approaching a devastating global economic meltdown?  Right now there are a large number of factors that are creating economic stress points all over the globe.  All of the crazy money printing that the Federal Reserve and other central banks have been doing is putting inflationary pressure on agricultural commodities, oil and precious metals.  Massive floods, horrific droughts and extreme weather patterns all over the globe are ruining crops and creating food shortages.  Some nations are now actually hoarding food, and in other nations rising prices have sparked food riots.  The price of oil has been moving back towards $100 a barrel, and if it stays at a high level for an extended period of time that is going to have very serious consequences for the global economy.  In addition, the growing sovereign debt crisis could erupt again at any time.  Half a dozen nations in Europe are on the verge of insolvency, Japan’s national debt is now well over 200 percent of GDP, and the global financial system is growing increasingly concerned about the exploding national debt of the United States.  The truth is that the entire world financial system is a house of cards balanced on a razor’s edge and it could come down at any time.

Sadly, very little has changed since the world financial system experienced almost a complete meltdown back in 2008.  Global financial markets are still a whirlpool of debt and speculation.  One really bad week could put us right back where we were prior to the infamous Wall Street bailouts.  Very little in our world is truly stable anymore.  As we have seen recently in Egypt, the globe can literally change almost overnight.  All it would take is for one really bad event to happen and world financial markets would instantly start imploding.

So when will the coming economic collapse happen?  Nobody knows for sure, but the fact that the global economy is increasingly becoming less stable as we approach the year 2012 is making a lot of people very nervous.

The following are 47 statistics that indicate that economic stress points in 2011 could be setting the stage for a global economic meltdown in 2012….

[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

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18 Sobering Facts Which Prove Middle Class Isn't Being Included In "Recovery"
« Reply #151 on: February 21, 2011, 10:15:04 am »
http://www.prisonplanet.com/18-sobering-facts-which-prove-that-the-middle-class-is-not-being-included-in-this-%e2%80%9ceconomic-recovery%e2%80%9d.html

18 Sobering Facts Which Prove That The Middle Class Is Not Being Included In This “Economic Recovery”

The Economic Collapse
Feb 21, 2011

Have you heard the news? The stock market is absolutely soaring and according to the U.S. government and the Federal Reserve we are in the beginning stages of a robust economic recovery. Yippee! The S&P 500 is up 6.8 percent so far in 2011, and the stock market recently hit a two and a half year high.  So shouldn’t we all be celebrating? Well, if stock market performance was an accurate measure of economic health, then Zimbabwe would have had one of the healthiest economies on the entire globe during the last decade. But just like Zimbabwe’s stock market was artificially pumped up with “funny money” that was rapidly being devalued, so is ours. All of the “quantitative easing” that the Federal Reserve has been doing is pumping plenty of money into the financial markets and is helping to inflate a false stock market bubble, but it is doing very little to alleviate the suffering of the U.S. middle class. In fact, when you take a closer look at the numbers you quickly find out that the suffering of the middle class is getting even worse.

According to Gallup, the unemployment rate is now over 10%. The number of Americans that have given up looking for work recently set a new all-time record. The number of mortgages in foreclosure tied a record high during the fourth quarter of 2010. Gas and food prices are rising rapidly. The number of Americans on food stamps continues to increase every single month.

Yes, right now the economic situation is not in free fall like it was a couple years ago. We should be thankful for that. Periods of relative stability such as we are enjoying now will be few and far between in the years ahead. This “bubble” of economic calm is a great opportunity that we should all be taking advantage of.

However, those that are hoping that this is an economic “turning point” and that things will soon be back to “normal” are going to be greatly disappointed. This is about as “normal” as things are going to be ever again.

Even during this time of relative economic stability, the U.S. middle class is still being ripped to shreds. If there are those among your family and friends that are somehow convinced that the U.S. economy is recovering nicely, you might want want to show them the following 18 very sobering facts….

[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

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The Ultra-Wealthy Live The High Life While The Economy Crashes and Burns
« Reply #152 on: February 22, 2011, 03:28:04 pm »
http://www.prisonplanet.com/as-the-obamas-and-the-ultra-wealthy-live-the-high-life-most-americans-are-going-through-economic-hell.html

As The Obamas And The Ultra-Wealthy Live The High Life Most Americans Are Going Through Economic Hell

The Economic Collapse
Feb 22, 2011

Barack Obama recently made the following statement to American families that are struggling to survive in this economy: “If you’re a family trying to cut back, you might skip going out to dinner, or you might put off a vacation.” A few days after making that statement Obama sent his wife and children off on yet another vacation, this time to a luxury ski hotel in Vail, Colorado. But the Obamas are not the only ones enjoying the high life. Wealthy corporate executives and greedy Wall Street fatcats insist that profit margins are too tight to hire more American workers, and yet sales of luxury cars, private jets and vacation homes are soaring. Meanwhile, most American families are going through economic hell right now. In 2010, more Americans than ever before were living below the poverty line. Over 4 million Americans have been unemployed for more than a year, and over 5 million Americans are at least two months behind on their mortgage payments. As the Obamas and wealthy corporate executives jet off to fancy ski resorts, half of all American workers are earning $505 or less per week and 55 percent of American families are living paycheck to paycheck. Something is very wrong with this picture.

So is there anything wrong with working hard and enjoying the fruits of success? Of course not, as long as it was done honestly and not on the backs of the American taxpayers. But the truth is that many of the corporate executives that are enjoying luxury vacations right now would not even have companies to run if the American taxpayers had not stepped in and bailed them out during the financial crisis. Thanks to the U.S. government and the Federal Reserve, Wall Street bankers and top corporate executives are once again enjoying bonuses that most of us would consider obscene.

Meanwhile, most of the rest of the country is suffering very deeply.

Over the past several decades, the biggest financial institutions and the biggest corporations have worked really hard to “fix” the rules of the game in their favor. The truth is that our economy is no longer a “free market” capitalist system. Rather, what we have now is more accurately described as “corporatism” or “neo-feudalism”. The big corporations dominate almost everything, and whatever they don’t dominate the government does.

One of the key features of a “corporatist” system is that it tends to funnel all the wealth to the very top.

Back in 1976, the top 1 percent of earners in the United States took in 8.9 percent of all income. By 2007, that number had risen to 23.5 percent.

Ouch.

There are two different Americas today. There is the America of the gated communities, the private planes and the good life, and there is the America of declining wages, thrift stores and rising desperation.

What is saddest of all is that the most vulnerable people in society often suffer the most from all of this.

According to one recent study, approximately 21 percent of all children in the United States were living below the poverty line in 2010.

Do you think that the Obamas are thinking about any of this while they are enjoying their stay at a luxury ski hotel in Vail, Colorado?

The truth is that leadership is not just about words. Leadership is about setting an example.

Back in August, Michelle Obama took her daughter Sasha and 40 of her friends for a vacation in Spain.

So what was the bill to the taxpayers for that little jaunt across the pond?

It is estimated that vacation alone cost U.S. taxpayers $375,000.

Hey, Barack Obama won the most votes in 2008 and so if he wants his family to get as much enjoyment out of these four years as they can that is his prerogative.

However, if he wants to tell American families that they “might put off a vacation” after all the vacations that the Obamas have taken over the past two years then he is just being a massive hypocrite.

According to the New York Post, Barack Obama enjoyed a total of 10 separate vacations that stretched over a total of 90 vacation days during the years of 2009 and 2010.

During his first two years in office, he also managed to play 29 rounds of golf.

Oh, but it is the rest of us that have to cut back on our vacations.

But it is not just the Obamas that are enjoying the high life right now.

The wealthy have recovered nicely from the “recession” and now they are spending money by the gobs once again.

According to Moody’s Analytics, the wealthiest 5% of households in the United States account for approximately 37% of all consumer spending.

Life is very good in America if you have got enough money.

A recent article in USA Today detailed some of the things that wealthy corporate executives are spending money on 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

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Economist Michael Hudson on Real News Network--


Obama Budget Pushes States Into War With Their Unions
http://www.youtube.com/watch?v=h3BlVqrTDZU


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Recession Over Or Just Beginning? 21 “Oh Crap!” Statistics About The Economy
« Reply #154 on: February 23, 2011, 04:13:55 pm »
http://www.prisonplanet.com/recession-over-or-just-beginning-21-%e2%80%9coh-crap%e2%80%9d-statistics-about-the-u-s-economy.html

Recession Over Or Just Beginning? 21 “Oh Crap!” Statistics About The U.S. Economy

The American Dream
Feb 23, 2011

Is the recession over or is the economic downturn just beginning?  Barack Obama and the Federal Reserve have been busy proclaiming that the U.S. economy is back on track, but the sad truth is that our economic problems look like they are about to get a whole lot worse.  Without oil, our entire economy would shut down cold.  Thanks to the chaos in the Middle East, oil is absolutely exploding in price.  In fact, the price of oil in the United States went up more than seven dollars today.  The global price of food has risen to record levels over the past 12 months and it is projected to continue to rapidly increase throughout all of 2011.  This is going to hit struggling families all over the globe very hard.  Meanwhile, thousands of manufacturing facilities and millions of good jobs continue to flee the United States.  The gap between the wealth that we consume as a nation and the wealth that we produce as a nation continues to grow.  We have attempted to fill this gap with asset sales and with massive amounts of debt, but that is a game that cannot last forever.  When we come to the end of every single month, we are poorer as a nation and we are deeper in debt as a nation.  From “sea to shining sea” we have become a nation that is flooded with red ink.

But most Americans still buy in to the whole “American exceptionalism” thing.  While it is true that there is something really special about the nation that our founding fathers originally established, the truth is that we are not guaranteed to be “the greatest nation on earth” forever.  Over the last couple of generations we have really been abusing the great legacy that was passed down to us.  America was once the greatest economic machine on the face of the planet.  The American people were once strong and brave and of noble character.  At one time, America was first in almost every major category that mattered.

Are any of those things still true today?  Of course not.  The once great American economic powerhouse is being gutted and ripped to shreds right in front of our eyes.  A large percentage of our population has become fat, lazy and obsessed with things like American Idol and Justin Bieber.  We have become so dumbed-down that most of us don’t even realize that something is seriously, seriously wrong with this country.

The U.S. economy is on the verge of major problems.  That also means that the entire global economy is on the verge of major problems.  These next couple of years are going to be very interesting to watch.  We truly are in unprecedented economic territory.

The truth is that things are not nearly as good as the talking heads on television say that they are.

The following are 21 “Oh Crap!” statistics about 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

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Separate but unequal: Charts show growing rich-poor gap
« Reply #155 on: February 24, 2011, 11:43:03 am »
http://news.yahoo.com/s/yblog_thelookout/20110223/ts_yblog_thelookout/separate-but-unequal-charts-show-growing-rich-poor-gap

Separate but unequal: Charts show growing rich-poor gap

By Zachary Roth
Yahoo! News
Feb. 23, 2011

The Great Recession and the slump that followed have triggered a jobs crisis that's been making headlines since before President Obama was in office, and that will likely be with us for years. But the American economy is also plagued by a less-noted, but just as serious, problem: Simply put, over the last 30 years, the gap between rich and poor has widened into a chasm.

Gradual developments like this don't typically lend themselves to news coverage. But Mother Jones magazine has crunched the data on inequality, and put together a group of stunning new charts. Taken together, they offer a dramatic visual illustration of who's doing well and who's doing badly in modern America.

Here are three samples:

This chart shows that the poorest 90 percent of Americans make an average of $31,244 a year, while the top 1 percent make over $1.1 million:



[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

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23 Facts Which Prove That Globalism Is Third-Worldizing Our Economy
« Reply #156 on: February 28, 2011, 11:50:03 am »
http://www.prisonplanet.com/global-economy-23-facts-which-prove-that-globalism-is-pushing-the-standard-of-living-of-the-middle-class-down-to-third-world-levels.html

Global Economy? 23 Facts Which Prove That Globalism Is Pushing The Standard Of Living Of The Middle Class Down To Third World Levels

The Economic Collapse
Feb 28, 2011

From now on, whenever you hear the term “the global economy” you should immediately equate it with the destruction of the U.S. middle class.  Over the past several decades, the American economy has been slowly but surely merged into the emerging one world economic system.  Unfortunately for the middle class, much of the rest of the world does not have the same minimum wage laws and worker protections that we do.  Therefore, the massive global corporations that now dominate our economy are able to pay workers in other countries slave labor wages and import the products that they make into the United States to compete with products made by “expensive” American workers.  This has resulted in a mass exodus of manufacturing facilities and jobs from the United States.

But without good, high paying jobs the U.S. middle class cannot continue to be the U.S middle class.  The only thing that the vast majority of Americans have to offer in the economic marketplace is their labor.  Sadly, that labor has now been dramatically devalued.  American workers now must directly compete for jobs with millions upon millions of workers on the other side of the world that toil away for 15 hours a day at slave labor wages.  This is causing jobs to leave the United States at an almost unbelievable rate, and it is putting tremendous downward pressure on the wages of millions of jobs that are still in the United States.

So when you hear terms such as “globalization” and “the global economy”, it is important to keep in mind that those are code words for the emerging one world economic system that is systematically wiping out the U.S. middle class.

A one world labor pool means that the standard of living for the U.S. middle class will continue falling toward the standard of living in the third world.

We keep hearing about how the U.S. economy is being transformed from a “manufacturing economy” into a “service economy”.  But “service jobs” are generally much lower paying than “manufacturing jobs”.  The number of good paying “middle class jobs” in the United States is rapidly decreasing.  So how can the U.S. middle class survive in such an environment?

What makes things even worse for manufacturers in the United States is that other nations often impose a “value-added tax” of 20 percent or more on U.S. goods entering their shores and yet most of the time we do not reciprocate with similar taxes.

But whenever someone mentions how incredibly unfair and unbalanced our trade agreements with other nations are, they are immediately labeled as a “protectionist”.

Well, someone should be looking out for U.S. interests when it comes to trade, because the current state of the global economy is ripping the U.S. middle class to shreds.

Right now, the United States consumes far more wealth than it produces.  This nation buys much, much more from the rest of the world than they buy from us.  This is called a “trade deficit”, and it is one of the most important economic statistics.  The U.S. runs a massive trade deficit every single year, and it is wiping out our national wealth, it is destroying our surviving industries and it is absolutely shredding middle class America.

We cannot allow tens of thousands of factories to continue to leave the United States.  We cannot allow millions of jobs to continue to be “outsourced” and “offshored”.  We cannot allow tens of billions of dollars of our national wealth to continue to be transferred into foreign hands every single month.

The truth is that the global economy is bad for America.  The following are 23 facts which prove that globalism is pushing the standard of living of the middle class down to third world levels….

[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

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Re: 23 Facts Which Prove That Globalism Is Third-Worldizing Our Economy
« Reply #157 on: February 28, 2011, 11:59:13 am »
http://www.prisonplanet.com/global-economy-23-facts-which-prove-that-globalism-is-pushing-the-standard-of-living-of-the-middle-class-down-to-third-world-levels.html

Contrary to what the author of the above blog continues to insist in his articles, what we have now is not "free" trade (or anything even remotely close to it), but rather corporate-managed trade.

As I often say, the importance of this distinction cannot be overstated. To understand why, please see the following:

http://forum.prisonplanet.com/index.php?topic=187591.0 (Is "free trade" a root cause of our economic woes, or a scapegoat for them?)

http://forum.prisonplanet.com/index.php?topic=190382.0 (Protection or Free Trade)
"Abolish all taxation save that upon land values." -- Henry George

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The ruling class continues to blow sunshine up our collective backside
« Reply #158 on: March 05, 2011, 11:18:43 am »
http://www.prisonplanet.com/don%e2%80%99t-worry-be-happy-unemployment-is-down-the-stock-market-is-up-and-the-economy-is-going-to-be-just-fine.html

Don’t Worry, Be Happy: Unemployment Is Down, The Stock Market Is Up And The Economy Is Going To Be Just Fine

The American Dream
March 5, 2011

Haven’t you heard?  The coming economic collapse has officially been canceled.  The U.S. economy is in full recovery mode.  It has just been announced that the U.S. unemployment rate fell to 8.9% in February.  That was the third monthly decline in a row.  192,000 new jobs were created in the U.S. during February.  That was the fifth month in a row in which the U.S. economy has gained jobs.  Corporate profits are way up.  For the most recent month that numbers are available, sales of GM vehicles were up 49%, sales of Chrysler vehicles were up 13%, and sales of Ford vehicles were up 10%.  Can’t you see?  The great American economic machine has roared back to life.  The stock market is way up this year.  The recession is over.  Our financial system is more stable than ever.  Pretty soon all Americans that want jobs are going to be able to get jobs and all of our government debts are going to be paid off.  The greatest days for the U.S. economy are just around the corner.  So don’t worry, be happy.

Don’t worry, be happy – the U.S. unemployment rate is falling and it will continue to fall.  Don’t be concerned that according to Gallup, the U.S. unemployment rate actually rose to 10.3% at the end of February.  Everyone knows that U.S. government numbers are far more accurate than the numbers that Gallup puts out.  Just don’t pay any attention to the “doom and gloomers” and just keep on watching American Idol.  Very soon there will be plenty of jobs for everyone.

[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

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The scandal no one talks about: Income inequality
« Reply #159 on: March 07, 2011, 11:21:38 am »
http://www.salon.com/news/feature/2011/03/02/mother_jones_colbert_income_inequality

The scandal no one talks about: Income inequality

And a novel solution from Stephen Colbert: "Let the rich start their own country"

By Peter Finocchiaro
Salon.com
March 2, 2011


                                            Comedy Central

The March/April issue of Mother Jones magazine has a fascinating account of the growing income gap and staggering economic inequality in America. Bolstered by a selection of illuminating infographics, MJ writer Kevin Drum paints a bleak picture of opportunity in the U.S.:

[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

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