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Social Security Administration Admits To Massive Screw Up On Wage Data: Two People Cause Entire US Income Distribution To Shift Materially in 2009

Tyler Durden's picture




 

In what can easily be characterized as the most blatant error in its history (and soon, potentially, fraud), the Social Security Administration announced that as a result of several erroneous W2 filings by two people, amounting to a $32.3 billion "mistake" the entire statistical wage table released previously has been scrapped and a new one has been released, indicating that wages in the US, and especially for the top earners, dropped, instead of declining modestly, and in some cases increasing. Of course, the timing for the revelation on the day of the elections is a total coincidence. As per the revised tables, average incomes of top earners did not quintuple as had been released on October 15 to $519 million, but instead declined by 7.7% to $84 million. Additionally, as Bloomberg which caught the error initially and demanded a correction, notes, a comparison of the Oct. 15 data and the corrected figures
show the change affected wage statistics more broadly. The Oct.
15 index indicated that the average wage nationwide fell $384 to
$39,269 in 2009. The corrected index shows averages wages fell
$598 to $39,055. And here is the original mea culpa from the SSA: "Yesterday, the Social Security office announced it found
“invalid” wages from two of the 74 top wage earners detailed
in its data." Had it not been for Bloomberg who noticed the ridiculous surge in the top earners, this would have remained unchallenged, and the administration would have certainly used it as bragging rights on how it makes the uberwealth even uberwealthier. Hilariously, spokesman Mark Lassiter provided the best summary to this mega screw up: "We call it erroneous, you
call it fictitious. It’s the same thing.” So... to the government fraud and error are the same? And apparently both pass thorough "quality control".... Uh, what's that GDP number again...

More from Bloomberg:

Two people were found to have filed multiple W-2 forms that made them into multibillionaires, an agency official said yesterday. Those reports threw statistical wage tables out of whack and, in figures released Oct. 15, made it appear that top U.S. earners had seen their pay quintuple in 2009 to an average of $519 million. The agency yesterday released corrected tables that showed the average incomes of the top earners, in fact, declined 7.7 percent to $84 million each.

Social Security spokesman Mark Lassiter provided few details about the W-2 forms and declined to answer questions about how they were filed, how many were filed by the same two people, or if a hoax was suspected. “We call it erroneous, you call it fictitious. It’s the same thing,” Lassiter said. “There were some invalid, I guess is the best way to put it, W- 2s.”

The W-2 is a tax form on which employers report their workers’ compensation. Taxpayers must provide a copy when they file tax returns.

Lassiter said this is the first time Social Security statistics have been affected by erroneous filings. A written request detailing concerns about the data was sent yesterday to the Office of the Inspector General, he said.

Bloomberg News wrote a report last week about high-earners’ income after questioning Social Security officials about record- high wages found in the statistics. The agency’s staff confirmed the data, though they began reviewing W-2s by hand after the news story was published.

Yesterday, the Social Security office announced it found “invalid” wages from two of the 74 top wage earners detailed in its data.

The data were part of the National Average Wage Index and contained the pay for 74 Americans who earned more than $50 million in 2009. The Social Security review found two tax filers, between them, reported more than $32 billion in wages and officials decided to invalidate those filings.

“We discovered an error in the net compensation for wage earners earning $50 million and over and have adjusted those figures downward,” Lassiter said in an initial e-mail.

The combined total earned by the top Americans fell to $6 billion last year from $11.9 billion in 2008, the agency said in the corrected report.

A comparison of the Oct. 15 data and the corrected figures show the change affected wage statistics more broadly. The Oct. 15 index indicated that the average wage nationwide fell $384 to $39,269 in 2009. The corrected index shows averages wages fell $598 to $39,055.

And here is where your error-proofing tax dollars go. Or don't:

Lassiter said he couldn’t explain why the mistake wasn’t
detected previously.

Comforting. Also, is the SSA in charge of GDP calculations? Don't worry. That's rhetorical.

 

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Tue, 11/02/2010 - 13:54 | 693786 TheGreatPonzi
TheGreatPonzi's picture

The whole system is a massive fraud. Ridiculous and disgusting. Hang the bastards.

Tue, 11/02/2010 - 14:52 | 693958 Clark_Griswold ...
Clark_Griswold Hedge Mnger's picture

a mistake by two people'

it wouldn't happen to be Waddle and Reed again would it?

Tue, 11/02/2010 - 17:08 | 694333 Pool Shark
Pool Shark's picture

+1 (well played sir)

Tue, 11/02/2010 - 15:58 | 694155 Sancho Ponzi
Sancho Ponzi's picture

This place is looking better and better, and would make a sweet ZH ex-pat compound for 10-20 people: 

http://www.timbuktuecuador.com/pictures/allpictures.html

Hell, I'll even cut the grass and clean the pool

Tue, 11/02/2010 - 13:55 | 693789 CheapKUNGFU
CheapKUNGFU's picture

All your pensions are belong to us, make your time...

Seriously though, is anyone really surprised by this?

Its all FAKE AND BAKE

Tue, 11/02/2010 - 14:11 | 693847 Cognitive Dissonance
Cognitive Dissonance's picture

Its all FAKE AND BAKE

I prefer Travshamockery!

But that's just me.

Tue, 11/02/2010 - 14:12 | 693855 docj
docj's picture

Sham-WOW!

Tue, 11/02/2010 - 14:27 | 693901 Miss Expectations
Miss Expectations's picture

Scam-NOW!

Tue, 11/02/2010 - 15:33 | 694072 aheady
aheady's picture

Shampipple

Tue, 11/02/2010 - 14:23 | 693886 Fidel Sarcastro
Fidel Sarcastro's picture

It's straight-up craptacular.

Tue, 11/02/2010 - 15:36 | 694085 Quinvarius
Quinvarius's picture

Craptastic!  The next thing you know they will stop telling me my own poop really is good shoeshine.

Tue, 11/02/2010 - 15:48 | 694132 RockyRacoon
Tue, 11/02/2010 - 13:58 | 693798 SpeakerFTD
SpeakerFTD's picture

The Social Security review found two tax filers, between them, reported more than $32 billion in wages and officials decided to invalidate those filings.

Why are Rothschild returns being excluded from the index?

Tue, 11/02/2010 - 14:17 | 693869 Buckaroo Banzai
Buckaroo Banzai's picture

If you think any of the Rothschilds actually file tax returns, I've got some foreclosures in FL to sell you...

Tue, 11/02/2010 - 15:08 | 693994 Confused
Confused's picture

Of course they don't. That would be even more unbelievable then this post. 

 

http://www.rothschild.com/

Tue, 11/02/2010 - 13:59 | 693800 tmosley
tmosley's picture

With the incomes of the ultra wealthy on the decline, is there still a push to impose more taxes on them?  At what point are the ultra wealthy hammered into poverty and/or flight from the country?

I am pretty damn far from ultra wealthy, and I'M thinking of leaving.

Tue, 11/02/2010 - 14:25 | 693894 flacon
flacon's picture

I left last summer. 

Tue, 11/02/2010 - 14:36 | 693920 Shameful
Shameful's picture

Anyone who is wealthy and not connected should have already left. What we will soon see is middle class and/or those with easily transferred skills or assets heading towards the door. The main think that might hold people in is the language barrier. Man how lucky that the gov can use the ignorance of the average person as a way to keep them around and suck of them.

Tue, 11/02/2010 - 21:33 | 694860 MaxPower
MaxPower's picture

I am neither wealthy nor connected; I left summer 2008 and haven't looked back except to occasionally shake my head in disgust at what I hear and read.

What I found most fascinating about the process was just how many of my former friends and relatives recoiled at my decision, even in light of all the evidence in my favor. To this day, the vast majority of them refuse to acknowledge their collective plight. Of course, that's a topic covered here on a regular basis.

Leave when you want to, not when you're ready to. The first step's a doozy, but each subsequent step is spectacular. Truly life-altering, in a GOOD way.

MP

Tue, 11/02/2010 - 13:59 | 693801 firstdivision
firstdivision's picture

I reported on my W2 that I had made $1 quadrillion, but I meant that in 2013 dollars.  In todays dollars that is $10.

 

<OT>AUDJPY seems to have disconnected from the SPX rather distinctly</OT>

Tue, 11/02/2010 - 15:00 | 693980 Nacho.Libre
Nacho.Libre's picture

LOL +1 quadrillion

Tue, 11/02/2010 - 14:00 | 693806 blunderdog
blunderdog's picture

Two people?

Just TWO PEOPLE?!?

Damn you Waddell & Reed!  Damn you all to hell!

Tue, 11/02/2010 - 14:04 | 693820 Sean7k
Sean7k's picture

LOL. I needed that.

Tue, 11/02/2010 - 14:05 | 693821 Cognitive Dissonance
Cognitive Dissonance's picture

They have been rather busy, haven't they?

Tue, 11/02/2010 - 14:02 | 693809 Sean7k
Sean7k's picture

Isn't is strange how we can transition in life from believing everything we are told to believing nothing we are told. Some never make the transition. Yet, we continue to support this system of government. Go figure...

Tue, 11/02/2010 - 14:05 | 693825 centerline
centerline's picture

I don't believe you.  (lol).

Tue, 11/02/2010 - 14:08 | 693836 Cognitive Dissonance
Cognitive Dissonance's picture

I believe you, but not him. Oh wait, it's Tuesday.

I believe him, but not you.

Tue, 11/02/2010 - 14:58 | 693974 Cpl Hicks
Cpl Hicks's picture

If I told you that I really believed you, I mean  from-the-bottom-of-my-heart sincerely....would you believe me?

Tue, 11/02/2010 - 15:08 | 693991 Cognitive Dissonance
Cognitive Dissonance's picture

Like so many good and loyal bandwagon jumpers, I believe whomever is in the lead.

Are you leading? Good, then I believe you. :>)

So much easier on the brain cells, don't you think?

Tue, 11/02/2010 - 14:03 | 693810 Joe Davola
Joe Davola's picture

I'm reminded of the joke where accountants interviewing for a job are asked what 2 + 2 is.  One is lead to believe the candidate who answered:  what do you want it to be?  got the job ahead of the losers who blandly answered four.

Tue, 11/02/2010 - 14:34 | 693913 aheady
aheady's picture

lol

Tue, 11/02/2010 - 17:06 | 694329 goldfish1
goldfish1's picture

Early nineties, Northern CA, small securities firm losing money, needed cash. IPO ready to go paid off one of the big 8 CPA firms to sign off on fraudulent numbers. The end of my age of innocence.

Tue, 11/02/2010 - 14:04 | 693816 Iam_Silverman
Iam_Silverman's picture

"from the SSA: "Yesterday, the Social Security office announced it found “invalid” wages from two of the 74 top wage earners detailed in its data.""

 

I can see how they made this mistake.  They just figured that these folks were in the banking industry, and enjoying some of those record bonuses paid out due to TARP saving their collective arses!

Tue, 11/02/2010 - 14:08 | 693838 hambone
hambone's picture

Holy fucking shit - this is so graphic as to the massssssive disparity of income...top 75 earners and 2 of those accounted for half of all taxable earnings?  No alarm bells either that this data is wrong or that this country is a fucking joke?  Or both?

Tue, 11/02/2010 - 14:14 | 693859 Iam_Silverman
Iam_Silverman's picture

Or, maybe Bill Gates and Warren Buffet have finally been included onto the tax rolls?

Tue, 11/02/2010 - 14:24 | 693891 destiny
destiny's picture

Oh, I thought that they had donated their wealth to charity foundations ?  gates and Buffet....there are your two guys.

Tue, 11/02/2010 - 17:54 | 694412 Iam_Silverman
Iam_Silverman's picture

Their charitable donations were disallowed by the IRS.  Tax Time baby!

Tue, 11/02/2010 - 14:04 | 693818 centerline
centerline's picture

Two erroneous tax filings are large enough to skew the entire US population's average wage decline by over 50%?  Nah.  No ruling elite around this place.  Just a rumor... a myth.

Tue, 11/02/2010 - 14:04 | 693819 Cognitive Dissonance
Cognitive Dissonance's picture

The people who designed the error checking software the SS admin uses also makes the software that checks for errors and hacking in all electronic voting machines.

Whoops.

<sarcasm off>

Tue, 11/02/2010 - 14:11 | 693849 knukles
knukles's picture

A Wholly Owned Subsidiary of TurboTax.
-endorsed by Secretary of Treasury, T. Gneither 

Tue, 11/02/2010 - 14:17 | 693865 Cognitive Dissonance
Cognitive Dissonance's picture

Honest to God, last year I was audited and when it was all done, even though the IRS owed me more money due solely to their audit (money they still haven't paid BTW) I asked for the Timmy TurboTax special. Those were my exact words. I couldn't leave without saying it. The lady wasn't pleased.

On second thought, maybe that's why I haven't seen my (additional) refund. Not only did they not squeeze more money out of me, but then I insulted "Dear Leader". :>)

Tue, 11/02/2010 - 15:52 | 694142 RockyRacoon
RockyRacoon's picture

You, my friend, are on the "Permanent Audit" list.  You'll never get any rest.

Tue, 11/02/2010 - 16:51 | 694299 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

I've already been notified that my 2009 return (which of course was just filed in April, boy they are fast) has been "selected" from a pile of millions for a closer look see. My attorney tells me that I am most definitely being harassed and that if it happens one more time, meaning next year for the 2010 return, that I can either sue the IRS or move to another country.

I would like to borrow your raccoon posse if I may. I'll send them in first for some initial IRS tenderizing. In return, you won't need to worry about feeding them for a few weeks. Deal? :>)

Tue, 11/02/2010 - 22:33 | 694975 Cognitive Dissonance
Cognitive Dissonance's picture

Looks like I'd better come up with a plan B. :>)

Tue, 11/02/2010 - 16:19 | 694207 A Nanny Moose
A Nanny Moose's picture

Sofware at SSA is only a place holder for ID thieves.

The real accounting is still done on fingers and toes. Even an abacus would be an improvement.

Tue, 11/02/2010 - 21:27 | 694841 StychoKiller
StychoKiller's picture

Slide rules are only good to at most, three significant digits.

Tue, 11/02/2010 - 14:06 | 693828 faustian bargain
faustian bargain's picture

"We call it erroneous, you call it fictitious. It’s the same thing.”

Hey Mark Lassiter: hope you've got your room reserved in the bunker.

Tue, 11/02/2010 - 14:09 | 693839 Cognitive Dissonance
Cognitive Dissonance's picture

I've heard that the bunker has a double booking problem.

Tue, 11/02/2010 - 14:32 | 693906 legerde
legerde's picture

They do have a habbit of selling things multiple times over:

1) fractional reserve banking

2) Un/Allocated metal accounts

3) MBS

etc...   Maybe there is no bunker...

Tue, 11/02/2010 - 14:51 | 693954 Cognitive Dissonance
Cognitive Dissonance's picture

Maybe there is no bunker...

Do not try to enter the bunker. That's impossible. Instead, only try to realize the truth.

There is no bunker.

Then you'll see that it's not the victims of your Ponzi that are screwed, but ultimately yourself.

Tue, 11/02/2010 - 15:05 | 693988 goldsaver
goldsaver's picture

Damn you!!! You beat me to it!!!

Tue, 11/02/2010 - 15:11 | 694004 Cognitive Dissonance
Cognitive Dissonance's picture

Bubba, my long lost twin brother, is that you?

Tue, 11/02/2010 - 17:27 | 694373 saulysw
saulysw's picture

LOL, you guys crack me up.

Tue, 11/02/2010 - 17:56 | 694415 Iam_Silverman
Iam_Silverman's picture

"The Cake Is A Lie!"

Tue, 11/02/2010 - 16:11 | 694183 faustian bargain
faustian bargain's picture

Hey man, I watched that episode of Jesse Ventura's show. I saw that bunker under Pike's Peak that they say connects to another one under Denver airport.

There's a bunker. But, as the guy said, "the blast doors will already be closed before you can get here."

Tue, 11/02/2010 - 17:01 | 694324 UninterestedObserver
UninterestedObserver's picture

That or if the doors are still open when you get there you will get shot if you try to get in....

Tue, 11/02/2010 - 14:09 | 693841 jus_lite_reading
jus_lite_reading's picture

EMERGENCY! WARNING! A systematic collpase of the entire socioeconomic system is upon us now!

I hope everyone has taken the proper precautionary steps as I advised. We may not be in the final months as I predicted in September, we may be in the final days.

The culmination of all variables is coming to a head. Chaos will ensue.

Did you really think Obama was leaving the country for 2+ weeks with his entire family, many top level staff, and 40+ aircraft to go to INDIA for a little sit down pow wow to discuss public toilets and the price of rice?!

You do the math...

 

Tue, 11/02/2010 - 14:16 | 693867 docj
docj's picture

Did you really think Obama was leaving the country for 2+ weeks with his entire family...

Well, you certainly could be right.  But it could also be that since he was mean and vindictive after winning an election his "handlers" might think it will take him about that long for him to cool-down after the thumping his team is likely to take today.

And let's face it, India is about as far away as you can get, right?

Oh, wait - that sort of plays into your point, too!

Tue, 11/02/2010 - 14:27 | 693900 merehuman
merehuman's picture

No , i think  Oberma and crew went for the jobs in India.

After all Ben is doing a great job running the world.  Presidents arent needed anymore in the USA.

Tue, 11/02/2010 - 14:48 | 693948 NOTW777
Tue, 11/02/2010 - 15:28 | 694017 Cognitive Dissonance
Cognitive Dissonance's picture

Um-mm,

Does anyone really want to be within a few hundred miles of DC considering this type of "evacuation" (my word) is being conducted? And both houses will be away as well, right?

BTW I really do need to read the MSM more because this is the first I've heard of the visit. And here I thought being unplugged was good.

Tue, 11/02/2010 - 15:37 | 694089 Nacho.Libre
Nacho.Libre's picture

Here you go...

http://www.dailymail.co.uk/news/worldnews/article-1325075/Obama-India-vi...

 

and the secretary of state happens to be out of the country right now, too...

http://www.telegraph.co.uk/news/worldnews/northamerica/usa/us-politics/8...

 

Oddly, or not so much so, you have to read about it from sources outside the country.  Fortunately, Ready.gov has been putting out these nice public service announcements the last month or so..

http://www.ready.gov/america/about/_flash/wud60.html

Who knows if there is any connection, but there might be some people that are not to happy to loose their seats to non-traditional party line people. 

And this might just be a coincidence, also.

http://www.shtfplan.com/emergency-preparedness/homeland-security-to-regi...

Personally, being prepared and prudent would not be a bad idea.

Tue, 11/02/2010 - 15:49 | 694131 Cognitive Dissonance
Cognitive Dissonance's picture

Bug Out Bag anyone?

Don't forget to pack some PM's.

Tue, 11/02/2010 - 15:55 | 694152 RockyRacoon
RockyRacoon's picture

I hope somebody turns out the lights in DC.  

My BOB is packed and ready.   I actually have more than one of them.  Each is packed similarly without keeping all of one thing in one bag.   If I get separated from one of them the others will do just fine.   Also, each has a bag of junk silver, some fiat dollars, and ammo for trades.

Tue, 11/02/2010 - 16:14 | 694192 Nacho.Libre
Nacho.Libre's picture

lol... "I'll trade you my one ounce lead slug for all your food, water, and PM's."

Tue, 11/02/2010 - 21:09 | 694117 jus_lite_reading
jus_lite_reading's picture

Amazingly (or not so amazingly) you'd be hard pressed to find much ado about this trip from the MSM in the US. It was first reported outside the country by a German newspaper that found it "suspicious" [my term]. It raised a few eyebrows to those with keen senses. But even more suspicious, this trip was initially planned for November 12th and was moved to November 4th, plus the addition of many top level staff members who were not originally scheduled to go. Couple that with the fact that DC will be "empty" of TPTB and something seems fishy. Hmmmmmm

 

Tue, 11/02/2010 - 16:13 | 694190 -Michelle-
-Michelle-'s picture

I've seen all of this, but it hadn't clicked.  I am now uneasy.

Tue, 11/02/2010 - 17:10 | 694337 Cognitive Dissonance
Cognitive Dissonance's picture

Just turn on the idiot box and let it take you away to la la land.

Sadly that's what so many do to "relax" and "not think".

Tue, 11/02/2010 - 17:59 | 694423 Iam_Silverman
Iam_Silverman's picture

Who's home mindin' the store?  (who got the short straw, or was deemed expendable?)

"Just turn on the idiot box and let it take you away to la la land."

 

Right-O!  Results night for dancing like a fool!  Uh oh, might that be superseded by this election thingy being harped on by the newsfolks?

 

Tue, 11/02/2010 - 19:41 | 694577 jus_lite_reading
jus_lite_reading's picture

Perhaps this small tidbit of info, mentioned in the UK Telegraph article will make the point ever imperative-

"The president himself will be ferried around in a black Cadillac - dubbed 'Barack Mobile' - which has its own built in communications centre - to enable Obama to be in touch with the White House, US vice president and the US strategic command

The car also has the US nuke launch codes and the nuclear switch for the president. It can also withstand a chemical or germ warfare or even a bomb attack."

Perhaps that info was "put in there" for a reason? We will find out soon enough.

 


Tue, 11/02/2010 - 15:14 | 694020 CheapKUNGFU
CheapKUNGFU's picture

Dude, I had 3 shirts and 4 pairs of socks in the wash... the socks came out fine but the shirts were wrinkled...

You do the math...

 

All your math are belong to us, make your time

Tue, 11/02/2010 - 15:31 | 694063 Cognitive Dissonance
Cognitive Dissonance's picture

So......either you wore one shirt over two days or you have a foot fetish and you change your socks during the day.

Tue, 11/02/2010 - 17:33 | 694384 saulysw
saulysw's picture

Or, he uses one pair of socks to make his "package" more impressive.

I wonder ... does he work in the government?

Tue, 11/02/2010 - 15:45 | 694120 jus_lite_reading
jus_lite_reading's picture

Are you missing one sock?

Tue, 11/02/2010 - 14:10 | 693843 docj
docj's picture

Ah, the layers and layers of checking done by the Fed.Gov - a wonder to behold.

So let me guess, the two former multibillionares were Tiger Woods and... I got nothing.

And remember, if Harkin and company have their lame-duck session way these same geniuses will be handed all of our 401k's - for the children, of course.

Tue, 11/02/2010 - 14:12 | 693845 Desenstematic
Desenstematic's picture

Does anyone else know of people who just continually lie - and even whan all rationality is presented they just continue unphased. Many people (narcissitic patholigical liars) live their whole existance in this way - perhaps it is our fate as well

Tue, 11/02/2010 - 14:11 | 693851 the not so migh...
the not so mighty maximiza's picture

They should have hired Phd's to do this.

Tue, 11/02/2010 - 14:14 | 693860 doomandbloom
doomandbloom's picture

Bernie Madoff was better than these guys...he did all his stuff singlehandedly...no?

Tue, 11/02/2010 - 14:24 | 693885 Cognitive Dissonance
Cognitive Dissonance's picture

That's the public myth, isn't it.

Rather brilliant on his part in keeping the kids out of adjourning cells. Fall on the sword and say you work alone. Normally these things start with minor characters at the bottom and then the prosecutors squeeze their way to the top. In this case, everyone below Bernie just needs to shut up and say they didn't know anything and Bernie cops to forgeries and whatever else he needs to keep things under the lid.

Of course, the real story is hidden in his list of poor defrauded "clients". Pull up the list sometime and Google.....ops, Bing away. Very interesting. Perhaps a story for another day.  

Tue, 11/02/2010 - 14:35 | 693908 doomandbloom
doomandbloom's picture

funny thing about 'myth'..

when massive frauds( errors) are unearthed...it is normally done by one or two individuals...

when small toothpaste bombs( or printer cartridges) are unearthed, its done by a whole friggin country..(or  religion)...

Tue, 11/02/2010 - 15:10 | 694002 shortus cynicus
shortus cynicus's picture

Not exactly: sometimes bullets flying from many different directions are also fired by one person.

Tue, 11/02/2010 - 16:54 | 694311 samsara
samsara's picture

Right,  remember those westerns cowboy movies,  the Cowboys dressing up like Indians and reeking havoc so the Cavalry will be called by "The good,honest town people"  to restore law and order.... (and drive the indians off that land to be later owned by the large cattle rancher paying the cowboys)...

A script that was and is used over and over.

Tue, 11/02/2010 - 14:14 | 693862 knukles
knukles's picture

Two People?
T'wasn't that the same number of folk arrested and released in Yemeny for the Toner Cartridge and Daisy Wheel Jack-Wagon Fiesta?

Something seems mighty fishy around here.

Tue, 11/02/2010 - 14:19 | 693872 King_of_simpletons
King_of_simpletons's picture

These are the guys who get paid now from our tax dollars and thro' their retirement from our tax dollars. Life must be wonderful for them. No accountability and ever increasing pay, pension and healthcare benefits.

Tue, 11/02/2010 - 14:19 | 693874 lizzy36
lizzy36's picture

I want to say this to the television audience. I made my mistakes, but in all of my years of public life, I have never profited, never profited from public service. I have earned every cent. And in all of my years of public life, I have never obstructed justice. And I think, too, that I can say that in my years of public life, that I welcome this kind of examination because people have got to know whether or not their President is a crook. Well, I'm not a crook. I've earned everything I've got.

Well, when the President does it that means that it is not illegal.

A government by the people and for the people.

Tue, 11/02/2010 - 14:27 | 693879 hambone
hambone's picture

This "disclosure" is made TODAY?  On the election?  Shameless!

This government has no legitatimacy any longer.  They are not a representative government for the people of the United States and their interests.  Quite clear they represent someone but it sure ain't Joe Q Public.

My good men and women of ZH...I must admit it feels we are on the precipice of something really bad.  The lies and mistruths, the manipulation is all too much to be maintained and thus likely won't be.  And thus I wish all of you the best in what may soon be a brave new world.

Tue, 11/02/2010 - 14:28 | 693902 FreedomGuy
FreedomGuy's picture

Hambone, I have that same depressed feeling in my gut. Lies cannot be maintained. Usually, there are teeth and claws behind lies.

Tue, 11/02/2010 - 14:40 | 693915 Cognitive Dissonance
Cognitive Dissonance's picture

Please remember that a lie is sustained not by the liar but by the listener/victim. As long as the people in power wish the lie to hold, it will hold. Or until ten to twenty million American listener/victims show up in the streets.

The liars are basically betting that there will be plenty of no-shows at the rally. So I suspect this will go on longer than you think it can simply because you and I aren't the deciding factors.

Tue, 11/02/2010 - 15:47 | 694128 Walter_Sobchak
Walter_Sobchak's picture

Yes but once you are awake it seems the doom is impending.  I feel bad for ppl who 'woke up" ten-twenty years ago.  They probably have ulcers or have died of heart failure by now.

Tue, 11/02/2010 - 16:34 | 694246 A Nanny Moose
A Nanny Moose's picture

Evil requires the sanction of its victim.

Tue, 11/02/2010 - 16:46 | 694283 samsara
samsara's picture

Kids,  they know the numbers. Why do you think they are so brazen?

As Jeb Bush once told retired Naval Intelligence Officer Al Martin

(cited in Bushwhacked, Sept. 2002, by Uri Dowbenko)...

The truth is useless. You have to understand this right now. You can't deposit the truth in a bank. You can't buy groceries with the truth. You can't pay rent with the truth. The truth is a useless commodity that will hang around your neck like an albatross -- all the way to the homeless shelter.

 

And if you think that the million or so people in this country that are really interested in the truth about their government can support people who would tell them the truth, you got another think coming. Because the million or so people in this country that are truly interested in the truth don't have any money.

 

 

Tue, 11/02/2010 - 14:46 | 693944 merehuman
merehuman's picture

Hambone, i hear you. If not for ZH and a few brave souls on utube i would have not known the depths of this fiasco.

What breaks my heart is how fooled and dumbed down the american public is.

In the past it was always possible to set an achievable and worthwhile goal. Recently there is so much doubt on the future the only direction i can see is toward personal survival.

If they bring this to a nuclear exchange all our preps are for nought. And that is a possibility now as there is no way out for the elite. We  all now know about them, enuf of us that they may fear us. Surely they already have planned for that. After all they KNEW this was coming, hell they created it while knowing that.

Pres outa town and a few others as well. Just found out Obama is a jew.

google "jewish faces" and find out they run everything but are only 2% of our population. I was surprised by this and wonder now should i shave my head in solidarity with other white guys? Lol. But i think i will investigate further since finding out this has happened in other countries and they ended up kicking out the jews. Poor Jews, everything gets blamed on them just because they own the world. I cant get into the hate thing, i met too many jews i liked along the course of life but these facts are what they are and i am having a real hard time with that.

Wont shave my head, got too many scars.

Tue, 11/02/2010 - 14:52 | 693959 Cognitive Dissonance
Cognitive Dissonance's picture

merehuman,

Please remind us again of your YouTube ID and possibly provide a link?

Thanks.

Tue, 11/02/2010 - 15:14 | 694003 hambone
hambone's picture

MH,

please remember the world favors those that favor themselves w/ education.  Few societies have been more focused upon knowledge than jewish society.  Not unlike those of Chinese or Korean descent who now own the West coast higher education system, set the curves, drive what little engineering and science is left in this country. 

But let's be honest it has little to do w/ race and everything to do w/ values.  Those who value their knowledge above all else will be smarter and play the game of life better.  Those parents who take on a 2nd or 3rd job to ensure their childrens education will survive and thrive and if these values are maintained, the circle goes on.

If average Americans were better informed and more inquisitive, we wouldn't be in the trouble we're in.

Tue, 11/02/2010 - 15:58 | 694158 RockyRacoon
RockyRacoon's picture

Wasn't that long ago that the Japanese were going to eat our lunch.

Oh, wait...

Tue, 11/02/2010 - 16:07 | 694179 Non Passaran
Non Passaran's picture

+1

Tue, 11/02/2010 - 17:30 | 694378 Art Vandelay
Art Vandelay's picture

"Wont shave my head, got too many scars."

Yeah, that electroshock therapy is a real bitch.

Tue, 11/02/2010 - 18:08 | 694435 Iam_Silverman
Iam_Silverman's picture

"google "jewish faces" and find out they run everything but are only 2% of our population."

 

Yup, I run the lawnmower, and sometimes the weedeater - if I've been good.  The Mrs.?  She gets to run the dishwasher.  See, we really are takin' over!

Benjamin Iambic Silvermann

Tue, 11/02/2010 - 18:54 | 694493 Geoff-UK
Geoff-UK's picture

Too many ZH posters distracted by the "let's you and him fight" bullshit blaming the Jews, the blacks, the illegal immigrants, etc.

 

It's the hyper-wealthy who buy politicians to take your tax dollars and pay off THEIR bad investments that ought to outrage everyone.  Stop trying to identify the enemy by tribe--identify the enemy by wealth.

Tue, 11/02/2010 - 14:25 | 693883 FreedomGuy
FreedomGuy's picture

Look around. I think falling income is a bigger and more disastrous story than unemployment. It is the other side of the unwinding of the debt-housing bubble. I think it still teters and could get worse with just a few (more)bad decisions.

I tend to be suspicious of government stats, as well. I also don't like the mindset I see when we look at GDP and then talk like the government has access or even control of the entire GDP. That implies the government directly or indirectly owns everything and therefore everyone. If the government can legally tax me up to 100% it implies it has a deed to my entire life and labor. The fact they don't exercise all of it does not change the situation. In fact, that is one of my very favorite questions for the modern liberal-statist, "What is the maximum tax rate allowed?" They never ever answer. The reason is because in reality it is 100% with the qualifier of "Only if we need it." For fun pose the question in other forms such as, "How much of a person's income do we need to solve all social problems and achieve absolute 'fairness'?" Substitue GDP for personal income. Same question. You can also ask, "How many regulations do we need before human behavior is perfected?" There you get a blank look or you only get a return challenge question like, "Are you advocating no regulations?" Never gets answered because the answer tells you the truth about their beliefs.

I tend to think government stats serve government purposes. Always be suspicious. Maybe M1 and M2 will disappear, too.

Tue, 11/02/2010 - 14:32 | 693909 Sean7k
Sean7k's picture

Nicely said.

Tue, 11/02/2010 - 14:42 | 693934 Loco Vida
Loco Vida's picture

see how much the govt owns and the real story

 

http://cafr1.com/

Tue, 11/02/2010 - 14:26 | 693899 Dagny Taggart
Dagny Taggart's picture

This coulda been classic if they'd let Joe Biden break the news, as if it was his gaffe of the day...

Tue, 11/02/2010 - 14:30 | 693903 e_goldstein
e_goldstein's picture

sweet baby cheeses :-/

Tue, 11/02/2010 - 14:34 | 693914 Mongo
Mongo's picture

What a bunch of monkeys!

Tue, 11/02/2010 - 15:40 | 693924 NumberNone
NumberNone's picture

Just read the whole story on Bloomberg and there are so many things wrong with this I don't even know where to begin. SSA - Social Scam Administration.  

Tue, 11/02/2010 - 14:53 | 693962 doomandbloom
doomandbloom's picture

I often wonder how things are being so conveniently leaked/exposed….especially the timing…

The problem is I do not know whom to side with, because the truth is presented in a way to destroy the current system ( not change). This is crucial……… because sometimes information even though labelled as ‘truth’ may cause more damage to the unaware mind.

A few of the recent ‘truths’ have been designed to create more chaos than to help people…which is why i am very doubtful of the end game…

as the illuminati say…out of chaos comes order…

Tue, 11/02/2010 - 14:58 | 693976 -Michelle-
-Michelle-'s picture

Why does this feel like the first peek of a slow reveal?

Tue, 11/02/2010 - 15:10 | 694000 Cognitive Dissonance
Cognitive Dissonance's picture

I believe the official story and I'm holding out for "Twin Peaks".

http://en.wikipedia.org/wiki/Twin_Peaks

Tue, 11/02/2010 - 15:13 | 694015 Uncle Remus
Uncle Remus's picture

Wait - is that a Palin reference?

Tue, 11/02/2010 - 15:17 | 694025 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

No. Do you want it to be? Then Yes.

Tue, 11/02/2010 - 15:29 | 694056 Uncle Remus
Uncle Remus's picture

Not necessarily.

Or is it because there are two hump days this week.

Tue, 11/02/2010 - 16:01 | 694163 RockyRacoon
RockyRacoon's picture

Next thing you know you'll be shaking hands and kissing babies.

Tue, 11/02/2010 - 16:54 | 694309 Cognitive Dissonance
Cognitive Dissonance's picture

Dammit.

Is it that obvious? :>)

Tue, 11/02/2010 - 18:10 | 694439 Iam_Silverman
Iam_Silverman's picture

"Next thing you know you'll be shaking hands and kissing babies."

Wow, I am conflicted - is it worse to be a pedophile, or a politician?

Tue, 11/02/2010 - 15:47 | 693997 Uncle Remus
Uncle Remus's picture

Torch concession.

Free lighter with every purchase.

Tue, 11/02/2010 - 15:16 | 694022 Cognitive Dissonance
Cognitive Dissonance's picture

Two people were found to have filed multiple W-2 forms that made them into multibillionaires, an agency official said yesterday.

Would someone please give WB7 a call? I would LOVE to see how many zeros one can fit on a W-2 as well as all the other snarky stuff that might spring from WB7's fertile crescent. 

Tue, 11/02/2010 - 15:20 | 694033 Arthur
Arthur's picture

You know I was feeling really bad for the past two weeks thinking my income had flat lined at 84 million and my buddies were now pulling 4x as much.  

I think I am now ready to firing up the Gulf Stream GVII and jetting down to the Caribbean to look for an island escape or two and a place to stash my gold.

Ta Ta.

 

Tue, 11/02/2010 - 15:31 | 694061 Uncle Remus
Uncle Remus's picture

There's an app for that.

Tue, 11/02/2010 - 15:32 | 694069 Everybodys All ...
Everybodys All American's picture

This just sounds like an out and out lie. I imagine the whole story is now a cover-up. Do you think the mainstream media will cover it?

Tue, 11/02/2010 - 16:02 | 694167 RockyRacoon
RockyRacoon's picture

No.  It won't fit into a 30 second spot.

Tue, 11/02/2010 - 15:53 | 694144 Downtoolong
Downtoolong's picture

(1)   Insider conspiratorial fraud

(2)   Complete bumbling buffoonery

 

Most major events we’ve observed in the financial industry in the last three years can only be explained by one of these two basic causes. What a choice. And the analysts and media would always have us believing that there is some strategic benefit to figuring out which one it is.

Tue, 11/02/2010 - 16:04 | 694169 RockyRacoon
RockyRacoon's picture

You'll have to admit that the line between fraud and (baboonery) buffoonery is getting rather blurry.

Tue, 11/02/2010 - 16:00 | 694161 scaleindependent
scaleindependent's picture

Median vs. mean biatch

Tue, 11/02/2010 - 16:15 | 694195 Walter_Sobchak
Walter_Sobchak's picture

why is anyone surprised?

 

Tue, 11/02/2010 - 16:26 | 694225 Ripped Chunk
Ripped Chunk's picture

Its a free for all and has been for some time.

Tue, 11/02/2010 - 16:27 | 694232 Marge N. Callz
Marge N. Callz's picture

Sorry that was my bad, I never should have trusted Turbo Tax to submit my W2's.

Tue, 11/02/2010 - 18:22 | 694449 goldfish1
goldfish1's picture

This year's high school graduating class has no money to go to school, minimum loans available and no jobs to do instead. Another 2.4 million. Put that in your W-2 and smoke it.

Tue, 11/02/2010 - 19:45 | 694584 Clint Liquor
Clint Liquor's picture

"year's high school graduating class has no money to go to school, minimum loans available and no jobs to do instead. Another 2.4 million. Put that in your W-2 and smoke it."

That's OK, there are plenty of vacancies for cannon fodder in Iraq, Afghanistan and soon Iran.

Tue, 11/02/2010 - 22:38 | 694982 knukles
knukles's picture

Wait wait wait wait    I got it!   The reason!

If two bazillionaires are excluded from the calcs, then the disparity between the really fucking rich and the rest of us poor fuckers narrows, thereby validating the Messiah's raisin dementors or whatever food that means in french, proof that he's narrowing the gap, redistribution of poverty is a success!

See, another boost just before the polls close in a few minutes!

 

Ta dah!

It's all Bush's fault.   Dancing in the streets, end to civil hostilities, all's well that ends before last call and closing time, the Utopian Dream Has Arrived!  I saw your mother on the Internet.

Tue, 11/02/2010 - 23:07 | 695026 Madhouse
Madhouse's picture

Yet further proof that the numbers are getting too absurd as the wheels of insanity turn so fast that it is all just a blurr too most people. No one really gives a shit. Some analyst at Bloomberg deserves the credit but what's a few hundred billion when none of it will ever matter...

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