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The Only Chart That The Majority Of Americans Should Care About
Having recently showed the diverging "consumer comfort" between the haves and the have-nots, perhaps the following chart more than any other typifies the superficial society in the US today. The question is - what happened in 1999/2000 to break the "what's good for Wall Street is good for Main Street" meme?
(cough Greenspan cough)
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It seems the new normal started right around the year 2000. How appropriate.
<Welcome to the (money) machine.>
What did you dream? It's alright, we told you what to dream.
Superb track.
Sad and reflects whats going on with main street
http://www.dailyjobcuts.com
/
Clearly not Obozo's fault. Look how well things have Changed for the better under his open and transparent leadership. Forwad.
Right before the turn of the century, Americans started sending their capital to Wal*Mart, Wall Street, and The Great Wall. The jobs followed the money.
Wal*Mart versus DJIA...
Shop "true" local. Keep as much of your capital in your home town as possible, so that it has a chance to come back to you.
Watch the Growth of Walmart and Sam's Club and the Death of Main Street
I've seen this many times now... the graph is designed in a misleading way, because the left axis does not start at zero as the right axis does. If you re-drew the graph with scales both starting at zero, it would look much less sinister, and the thought of cause-and-effect would be much less obvious in appearance to the observer.
Whatever the merits of the graph, I think it is now irrefutable that the recent malaise has been due to the outsourcing of jobs to regions with lower wage regimes. I say this as a balls to the walls ricardian free trader. Now, it may be the case that we have merely not seen the upswing over the full cycle of people readjusting their lives to profit form the new setup, and that this may occur over the next 10-20 years. Furthermore, it appears the ndir in labor has passed. In China, wages are supposedly now rising. This will ikely continue there for demographic reasons as their workforce shrinks relative to the whole. I am not too confident though that our domestic population will be able to adjust to the new reality. The quality of education continues to decrease. And the government continues to make it very very exensinve to hire living people with all their rules about this and that. You have to be very big to comply with all the shit they throw at you. So bubbing businesspeople get it every which way. And labor as well.
Speaking of the WALL, hh:
[Sound of many TV's coming on, all on different channels]
"The Bulls are already out there"
Pink: "Aaaaaaaaaaaaaaaaaaaaaaaarrrrrgh!"
"This Roman Meal bakery thought you'd like to know."
I don't need no arms around me
And I dont need no drugs to calm me.
I have seen the writing on the wall.
Don't think I need anything at all.
No! Don't think I'll need anything at all.
All in all it was all just bricks in the wall.
All in all you were all just bricks in the wall.
the recent malaise has been due to the outsourcing of jobs to regions with lower wage regimes.
Cause and effect backwards... offshoring is a symptom, not a disease...
Well, we did have the repeal of Glass-Steagall in 1997 and the introduction of the Synthetic Derivatives to the markets in 1994.
Why does Conan O'Brien come to my mind? Haha. In the year two thousand.....
http://www.youtube.com/watch?v=n3hnofRRvSY
Mister Fucking Andrea Mitchell, no less.
Jesse's Cafe video sums it up well.
http://jessescrossroadscafe.blogspot.com/2013/10/jeffrey-sachs-interview-with-guardian.html
They should all be jailed and the politicians with them.
Started in earnest right around the same time tribesman bankster Silverstein took out massive insurance on his WTC, double insurance policy 'in case of terrorist attack', and pulled building 7 too.
It looks like money, but it's just company chits.
Indeed, Cognitive Dissonance!
The cross-over in that chart probably relates to the decision to go ahead with the 9/11/2001 false flag attack. That decision was the "break away civilization" deciding to break away, and go for broke. That decision leads to implementing democidal martial law in the USA.
Wall Street decided to mass murder Main Street.
<Welcome to the (money/MURDER) machine.>
"what happened in 1999/2000 to break the "what's good for Wall Street is good for Main Street" meme"
let me guess ... clinton repealed glass-steagal?
... and the passing of the "Commodity Futures MODERNIZATION Act of 2000"
Bingo, RT. You got to it before I did.
Not quite- there was a financial crisis in 1998 where TBTF was born and bailed out (by ChairSatan Sr) and in 1999 they were back to paying themselves big bonuses courtesy of .fed handouts at the expense of the mainstreet... CFMA would be 2000/2001 not 1999/2000, and the sweeps swaps and integrations that were the eventual result of repealling G/S weren't fully integrated by 1999/2000 since bankers were focused on Y2K and the europonzi rollout.
True, but close enough for government work.
Long Term Capital Mangement bailout?
Algos, Derivatives, Leverage, Bad Loans, Systemic Risk... Rinse, Repeat. Only the names change (and some of them didn't even change when they were back at the same crisis meeting a decade later). Crappy Myron Scholes pseudo-math even underpinned both both LTCM's models and the BS derivative pricing models peddled by Blackrock for the next go round...
boy, Clinton really sold his soul signing Glass Steagal & CFMA.........good work Monica/wall st/MIC
Yes, but a lot more happened, and to overlook the arrival of the Bush/Cheney reign of terror is to place head in sand. That administration laid the did the heavy lifting for most of what is wrong now. Obama has only made it all worse. The puppet strings were firmly attached to the fingers of Wall St. & the MIC to the President and the Congress during the Bush administration. The Supreme Court finally got stacked with "conservatives", who decided that corporations were people and campaign bribes were not only leagl, they should be un-fucking-limited. Regardless, Obama would have faced a virtually impossible task, but the S.O.B. has done nothing to go after the base problem, as evidenced by his pathetic Deaprtment of Justice, love of secrecy and spying on americans, and his war-mongering.
Bye-bye Constitiutionmal Republic. Bye-bye Main Street. Bye-bye rising standards of living for avberage Americans. Bye-bye tax base......Hello Corruption, Greed Hubris, Wars of Choice, et al, on a scale unseen in American History.
We have been flushed, boye & girls. The only question is how long we circle the bowl before we hit the sewer.
Speak the truth brother.
i think clinton signing nafta was the turning point. that was the moment we stopped having two political parties with different interests. in my tiny brain there are three political stripes, liberal, 'republican', and conservative. bush1 moved the r's back into the 'republican' camp, no big surprise there. the real killer of course, was clinton's third way, using the poor to funnel tax money to the multinationals. as soon as the dims became 'republicans', the yin and yang of the two party system failed, and the walmarting of america began. two more 'republican' presidents later and here we are. a word on holder, his career has been that of a fixer, one of the best in the business. he just happens to be in a job where we could use a cutthroat prosecutor about now.
dotcom collapse?
Monica got a higher paying job (thanks to vernon) than most of us.....
And a souvenir stained dress.
I thought of that too. It's an obvious data point, but the whole internet bubble simply masked some problems for a while.
In no particular order:
NAFTA and the death of wages.
The stampede of capital into real estate, crowding out sane spending.
The cancerous growth/explosion of government, and all things subsidized by the Tyrant Class.
Great piece, and something that deserves serious thought and development.
Ahem.
The price of oil in 1999 was $16.56/barrel. In 2000, $27.39. This had nothing to do with any US CFMA because it's global. It was, rather, the precise year the North Sea's oil production peaked and began to fall. A dip in price then for the 2001 recession (though never again under $22) and onwards and upwards, all long before QE ever entered the lexicon.
Guys, stop overanalyzing. Oil is responsible for the American way of life, and all aspects of it.
and obama wants oil to be punished with fees, restricted with regulations....hmnn.
love,
the perfectly timed BP oil spill
But wait....how this happen??!!?
WE elcted a pair of "oil men" to run the country in 2000, didn't we? You mean they screwed that up, too?
1) They didn't take office until 2001.
2) Geology doesn't care about politics.
That's right, they did take office in January of 2001. Then, in Feb 2001, they started to have secret White House meetings with energy companies. http://www.projectcensored.org/8-secrets-of-cheneys-energy-task-force-come-to-light/
The ME has been on fire since then.
We are having an enrgy boom in the USA, so why aren't our enrgy prices dropping?
Energy prices increased for everybody. Why was the 3rd world allowed to eat our lunch?
Signed in just to upvote this.
The clown brigade above just does not want to see it. Wish I could post a chart of US and worldwide per-capita energy consumption. They're still trying to blame the left (and the Fed) for putting a floor on prices, or the oil majors for putting a ceiling on production, or the brown people for living on top of OUR oil, the BRICS for daring to compete (on either side) in the global energy market, etc. Peak denial, hubris, megalomania, delusion - the rulers of empires have no monopoly on any of these things. Glad someone around here recognizes that any "solution" that still depends on everyone combusting lots of hydrocarbons all the time, is not a solution.
This is how these monetary games always end... the real producers of things tell the prospective buyers to take a hike with the funny money.
Bingo. Public Law 106-102.
the trickle everyone was supposed to feel running down there back, started to smell?
What happened? The Gramm, Leach, Bliley act, Nafta, the acceleration of consumer credit combined with the out sourcing of jobs is what happened.
No.
Oil is what happened. See a few comments up.
you should really have that ugly cough looked at.
it could be terminal.
Wall Street abandoned all pretense of being anything other than a bunch of self-serving, sociopathic criminals, bent on cheating the system, privatizing their gains, socializing their losses, and began the final process of removing any and all regulatory fetters that would prevent indiscriminate rape and pillage of the American and global economy for their private benefit?
No need for the question mark on the end. Works perfectly fine as a statement.
George W Bush happened. (Yeah yeah, all Bush's fault).
Truth hurts, and Fraud Street liquidated Main Street for the clueless -- it's accelerating.
Mission Accomplished Fuckers, Crime Inc owns you, and "No one saw it coming!!"
The same thing would have happened under a Gore and/or Kerry administration. Total government capture of both parties by Wall Street.
That, my friend is pure conjecture.
Would we have gone to Iraq on a fool-hearty mission? Would 9/11 even have happened? So much of our misery was caused by the neo-cons, who had no place in the Clinton/Gore admin.
Would the bankers have been catered to the same way?
Would the Supreme Court have been stacked the way it was?
It is simply amazing to me the number of people who still refuse to see what was behind our country's decline. It started in ernest with Bush/Cheney. Just look at the above graph.
You'll probably be hard pressed to find someone who doesnt agree they made it worse in a few regards, but laying to blame right there is missing out on 87 years of other reasons.
Bush did not become president until 2001.
The North Sea, however, peaked and began its oil output decline in 2000.
Look there for the cause. Oil was $16/barrel in 1999. $27 in 2000.
or otherwise..........the slow death of the dollar as a debt based, fiat currency?
Please let me be the first volunteer on the firing squad. I will pay with PM.
What happened to the "what is good for Wall Street is good for the US meme"? They actually kept trying to use that all of the way through 2011. It has just been a little more quiet lately... but clearly it is a propagandist lie designed to take pressure off of liars, frauds and psychopathic Luciferian elitist criminals who run the bulk of the world.
Personally, I do not believe that forcing families into 2 slave wage earner bondage is a good thing. But that is what they did to force the people to support the massive overhead of the banks and government while they have stolen, defrauded and parasitically drained this country dry.
Parasites need hosts to survive and an imbalance of too many parasites is not a good thing for either the host or the parasites. Do you want to know why the border is open between Mexico and the US? The parasites need more willing and ignorant hosts.
Oligarchy 101: If you can't change the minds/opinions of the populace, change the populace..........the US borders are open to all idiots of every race, creed, color, ya...ya....ya.
When will someone start the "Archduke Ferdinand" Moment and throw a shoe at Obama?
Never happen. The press won't let them get close enough.
Yeah but the press is at the other end, I'd rather throw it in his face.
Bush tax cuts.
Yes, tax cuts are responsible for this divergence because the government can spend your money better than you can.
devilsporkchop, you need to wake up and stop getting sucked into partisan talking points as BOTH PARTIES ARE FUCKING THIS COUNTRY IN THE ASS AND ARE RESPONSIBLE FOR WHERE WE ARE AND THE DIRECTION THAT OUR COUNTRY IS TAKING!
The problem is taxes are a bit too low ya think?
ZH really needs to go to the way-back requirement of a test to get in to post comments.
Yes, taxes are too low for a government hellbent on corporate welfare and foreign adventures. It's should be abundantly clear by now that government is controlled by those who profit from that abuse and fraud. As they've reduced their own tax burden, the rest of us have had to pick up the slack. Isn't it great when you call all of the shots and somebody else pays all of the bills?
What's good for Madoff is good for Bernanke.
Time to Hammer Down BITCHEZ'
Gravity
The Have Nots vs the Have Lots vs the Have Yachts……
"Of course, I want people to have health care," Vinson said. "I just didn't realize I would be the one who was going to pay for it personally." …
A radically liberal newspaper in a liberal area finds some of its Obama supporters shocked at their insurance premium increases.
“I was laughing at Boehner – until the mail came today,” Waschura said.
The real drama unfolds, however, in reading the more than 1000 comments to the article. Here’s a typical sample:
GreyGeek77
Here’s the story:
Obamacare's winners and losers in Bay Area | San Jose Mercury News | 10/05/2013
Cindy Vinson (a retired school teacher) and Tom Waschura (a self-employed engineer) are big believers in the Affordable Care Act. They vote independent and are proud to say they helped elect and re-elect President Barack Obama.
Yet, like many other Bay Area residents who pay for their own medical insurance, they were floored last week when they opened their bills: Their policies were being replaced with pricier plans that conform to all the requirements of the new health care law.
Vinson, of San Jose, will pay $1,800 more a year for an individual policy, while Waschura, of Portola Valley, will cough up almost $10,000 more for insurance for his family of four.
"Welcome to the club," said Robert Laszewksi, a prominent health care consultant and president of Health Policy and Strategy Associates in Virginia. …
In California, 1.9 million people buy plans on the open market, according to officials with Covered California, the state's new health insurance exchange. And many of them are steaming mad.
"There's going to be a number of people surprised" by their bills, said Jonathan Wu, a co-founder of ValuePenguin, a consumer finance website. "The upper-middle class are the people who are essentially being asked to foot the bill, and that's true across the country."
Covered California spokesman Dana Howard maintained that in public presentations the exchange has always made clear that there will be winners and losers under Obamacare.” …
Even those who don't qualify for the tax subsidies could see their rates drop because Obamacare doesn't allow insurers to charge people more if they have pre-existing conditions such as diabetes and cancer, he said. ...
But people with no pre-existing conditions like Vinson, a 60-year-old retired teacher, and Waschura, a 52-year-old self-employed engineer, are making up the difference.
"I was laughing at Boehner -- until the mail came today," Waschura said, referring to House Speaker John Boehner, who is leading the Republican charge to defund Obamacare...
"When you take $10,000 out of my family's pocket each year, that's otherwise disposable income or retirement savings that will not be going into our local economy."
Both Vinson and Waschura have adjusted gross incomes greater than four times the federal poverty level -- the cutoff for a tax credit. And while both said they anticipated their rates would go up, they didn't realize they would rise so much.
"Of course, I want people to have health care," Vinson said. "I just didn't realize I would be the one who was going to pay for it personally." …
http://www.mercurynews.com/nation-world/ci_24248486/obamacares-winners-and-losers-bay-area
All the complexity in the world can't mask the bailout of insurance companies.
Nigger care is one big handout to big insurance. Fascism in every policy. A catastrophe from every view.
Actually it's just the shoehorn for single-payer. Nothing more or less. At this point it's a fait accompli, barring certain fantasies (nothing more) of (purely) governmental collapse.
Good Lord there are some stupid fucking people in this world. Who in the hell did they think was going to pay for it? It's not like they weren't warned. Unfuckingbelievable!
People are still calling 1-800-FUC-Y1OU to express their shock and anger that StalinCare isn't FREE! Did these mow-rons ponder for even an instant what the quality level of "free" healthcare would be?
Little did the sheeple realize that the winners were Insurance Companies.
And the losers were the people.
Same as it ever was.
+100 JR
Some of us that took the time to read the bill and analyze the consequences have discussed it for ages here. There are actually times I wish I had taken the fucking blue pill. Not only will healthcare insurance increase take a look at the deductions on the government sites and the different plans. This is all based on income so that engineer is going to pay dearly. Good!!! He wanted this now he can live with his new healthcare.
This monster was written during the Clinton ear to be honest. Dusted off, updated and now law and even the unions are now in an uproar when their healthcare is now considered income. I hope they all love their "Hope and Change they can believe in. " Almost all programs the government gets involved in are run by lobbyist and their special interest.
My brother called me the other day and was bitching about it and I told him you wanted it now live with it. His deductable is 6k and his cost 325 a month. Sad for some who thought the govt would just hand them great stuff! In the end it will be a single payer system once fully implemented and those that actually have some change in their pockets left will be buying a private supplement so they can skip to the head of the line for care. I just want to face palm every time people think they are going to get some free shit from the government. Get a frigging clue it is all taxpayer funded and none of it is free. Wait until they get involved with wellness and premiums and yes it is here but more will be coming to increase your payments. The freebie class will be just about everybody in time, as more and more people realize working and paying for all the entitlements and corporate welfare is harder then earning an honest wage from your labor. Hell some states even advertise it is better not to work and collect all the bennies then work. WHAT A JOKE! On us and the idiots that voted for this shit!
I have little doubt these same folks would vote BHO in again if the election was next month.
Yeah but if they had to wait until 2016 they wouldn't, not when they see what happens to the rest of the economy.
They vote independent ...
Waa hahaha.. Yeah sure they do.
They deserve the ass raping they are getting and gonna get.
Let the riots begin. Kill all bankers and burn down Wall Street. Draw and quarter Bernanke and Greenspan. Put all banksters in stocks in Times Square and let the people piss on them for a few months then hang them one at a time. Take all their assets and put them in the treasury and throw their families out on the street like they did to the people. Take every CNBC employee and make them pick up garbage then hang them for treason. Take all their ill gained assets as well. Hang all reporters on MSM for treason. Hang all politicians for treason. Arm the people and do away with the police. Hang all cops that did not obey their oathe for treason. Shut down the corrupt courts and reinstitute them to strictly follow the constitution. Hang all Judges that broke their oathe for treason. The time for REAL hope and change is NOW!! And THIS is how you arrive at it.
Heil mein Commandant! Would you like anyone else killed before your lunch, your Revolutionary Highness, sir?
mebbe take a little of that nice pink medicine and step away from the ledge there, bud.
Where do I sign up to join this 'Club of Justice'? I'm itching to bang a few fascist heads....
Looks like more like "what happened in 2001"?
Oh yeah, Bush and Cheney became Jihadists and Silverstein demo'd some old towers in NY.
Yes in other words the tribe who runs the world central banks just took over and said 'What are you going to do about it? Nothin!'
apart from the Greenspan greased Wall Street anus
the internet came into its own at the end of the nineties and with that the outsourcing not only of American manufacturing but back office etc and the job killing productivity thanks to ever more powerful computers
One day soon that chart will revert over night and 95% of the people will have jobs again.... digging roots and potatoes for subsistence and the paper asset world will vaporize.
Food. It's the new IT.
(everything old will be new again)
High Frequency Trading? You didn't think all these technological advances were just to deliver better porn did you?
2000, the year the machines took over. the tool privded to those who always had the power to control everything. total control
end of cheap oil
What happened in 1999/2000? It really is not that complicated...the Gramm-Leach-Bliley Act. The repeal of Glass Steagal, culminating years of work by Rubin and Greenspan, was the quintessential fucking of the US citizenry. The chart bears out the effects, and it will only get worse...100% guaranteed.
Seriously? This is the "only" chart people should care about? How about people focus on long term survival by seeing that EVERYTHING around the is increasing in price... except of course for the iCrap gadgets that people are so addicted to. Food, JOBS, etc. are all going bye-bye... I don't think the vast majority of Americans give two shits about the stock market when they are living hand to mouth. Interesting when it comes to food, did not realize that to survive for one year, is a considerable amount. Nice calculator here:
https://www.gunsgrubandgold.com/content/119-food-calculator
What happened?
Debt saturation.
Leading to the breakdown of the keynsian model. Since then, the austrian model which is more robust takes over leaving the keynsians scratching their heads.
The small incremental changes that everyone can seemingly tolerate at the time that all add up. One day, we wake up 13 years later and look at a chart of when it all started to turn south. Then we say, hey look, it started there. F'in' brilliant...
All of the above. That's what happened.
Cooperbry wins the prize. Shit happened.
"what's good for Wall Street is good for Main Street"
That used to be true back when they were mostly involved with manufacturing things instead of just skimming profits from "innovative financial products" which translates into taking a cut from just shuffling around and gambling with borrowed money totally unproductively to anyone but themselves. Mainstreet only benefits from that if they take the risk of buying stocks, a risk now much greater than in the past.
POST HOC ERGO PROCTOR HOC
Remember that Greenspan was first appointed by Reagan. It's all rigged.
Why can't I find any news stories about the guy who lit himself on fire in DC just a couple days ago?
Search Shortcut
Guy Who Lit Himself On Fire News Results
Man critical after setting himself on fire at National Mall
DNA India Oct 04 08:36pm
Man Sets Himself On Fire At National Mall
Business Insider via Yahoo! Finance Oct 04 01:54pm
A Man Set Himself on Fire at the National Mall
The Atlantic Wire Oct 04 02:33pm
i yahoo'd it cause i'm a hick! course they're not indicating he transpired... get whatcha pay for i suppose... RIP Fireman
He clearly planned his immolation, and must have driven there because the DC subway would notice a lagre red can of gasoline. SO where is his car, and where is his suicide note, where are his friends, etc.. Imagine if he was a bomber, cameras are everywhere, he would have been identified way before now. Authorities are trying to control the burning man story. Can't blame them, that is what they do.
The last barrier to banks becoming casinos- Glass Steagall- was done away with in 99. It took Wall St banks less than 10 years to sponsor Great Depression, Part Deux.
And everyone responsible for repealing it should be financially wiped-out and then hung from gallows on the Super Bowl 2014 half-time show...
2000 is when bush stole the election from Gore. President Gore would never invaded iraq. It's even likely 9/11 never would have happened.
"It's even likely 9/11 never would have happened."
are you on something or just a troll, what's surprising is that YOU can vote-while believing such BS. ZH is Fight Club but not Dumb Club, please enlighten us as to why AG would have prvented 911.
I think he figures that when Big Al shut down all US power production "to save the planet" and thus destroyed the US industry that had not yet been shipped to China, Osama bin Laden would figure the job had been done for him and go back to his happy time with goats.
LOL, THat's a good one Gosh. so much delusion in so few words.
You are aware, though apparently NOT, that when the newspapers in FL, completed a recount of the ballots using methodology favorable to algore, BUSH STILL WON? ah... but of course not. that wasn't widely reported. It was much more fun to clame Bush stole the election.
I mean really. al didn't even win his "home" state. how sad is that?
9/11 was going to happen, those plans were in place before Took office if you can believe what the perps recorded in their little preblowup messages.
but hey, you have a lot of delusion going. no need to let reality intrude right?