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"The Biggest Redistribution Of Wealth From The Middle Class And Poor To The Rich Ever" Explained...

Tyler Durden's picture





 

While the growth of inequality in America has been heavily discussed here, it was Stan Druckenmiller's outbursts (and warnings that "from beginning to end - once markets adjust from these subsidized prices - that the wealth effect of QE will have been negative not positive") that brought it more broadly into the average American's mind. QE, taxes, income disparity, and entitlements are four major means by which wealth is transferred from the poor and the middle class to the rich. The following simple chart explains it all...

 

Via Shane Obata-Marusic ( @sobata416)

 

A - “the rich hold assets, the poor have debt” is how Citi’s Matt King described the distribution of wealth in the US.

B - QE has resulted in a loss of purchasing power for the US dollar. Faced with this problem, consumers in the middle class are taking on more non-housing debt in order to maintain the same standard of living. In addition, the US government – which continues to run a deficit year after year – continues to accumulate debt. Due to these facts, total debt outstanding – aka credit market instruments for all sectors - is at all time highs. More debt means more interest payments and lower savings rates. These trends do not bode well for the middle class consumer.

C - On the other hand, QE has been great for the rich. QE has inflated the prices of assets such as property, bonds, stocks, and non-home real estate:

Home prices in Detroit are going up despite the fact that the city is bankrupt. The “housing occupancy” table is meant to show what appears to be a higher than average amount of speculative demand i.e. lower than average owner occupancy rates.

The rich have most of the assets which is why the average family income of the top 0.01% increased by 76.2% from 2002 to 2012. In contrast, the average family income of the bottom 90% decreased by 10.7% over that same period.

D - Taxes as a percentage of real disposable income have more than doubled since 1980. This trend has not been kind to the bottom 90%.

Conversely, favourable tax rates on dividends and capital gains have allowed the rich to become wealthier over time.

E - Median household income has been in a downtrend since the late 90s.

In opposition, corporate profits are at all-time highs.

F - The entitlement problem is only going to get worse as more baby boomers leave the work force. Future generations will have to pay for the debt that the old and rich continue to take on.

Growing benefits and sympathetic tax rates on investments enabled the old to increase consumption by 164% from 1960-1991 .

G - In conclusion, QE, taxes, income disparity, and entitlements are contributing to “the biggest redistribution of wealth from the middle class and the poor to the rich ever” If things continue the way they are going, then millennials and future generations will pay the price:

Despite the fact that inequality in the US is nothing new:

Today, it might be worse than it ever has been:

Unless the distribution of wealth in America begins to change for the better, assets will continue to benefit the rich and debt will continue to burden the middle class and the poor.

For an economy that’s largely based on consumption, excess debt only serves to reduce expenditures and to slow economic growth over time.

Quality of life for the median American household is only going to get better if the issues associated monetary policy, entitlements, taxes, and income are addressed and dealt with.

For now, the best thing that you can do is to discuss these issues with your friends, family and colleagues and try to come up with solutions.

 


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Thu, 01/02/2014 - 21:13 | Link to Comment Jannn
Jannn's picture

Sun Zhaoxue: US Intends To Suppress Gold To Ensure Dollar's Dominance

 

http://www.ingoldwetrust.ch/sun-zhaoxue-us-intends-to-suppress-gold-to-e...

Thu, 01/02/2014 - 21:16 | Link to Comment surf0766
surf0766's picture

The dollar is crap and everyone but those in the U.S. know it

Thu, 01/02/2014 - 21:25 | Link to Comment kaiserhoff
kaiserhoff's picture

I understand that argument.  Hell, I've been preaching out of control inflation since the end of the Reagan administration, and I have been wrong. 

Think best horse in the glue factory, or last fiat standing, but also think what destroys the poor fool with no job and a 10,000 dollar student loan.  We'll get to hyper inflation, but I may not get there with you.  This is a marathon.

Thu, 01/02/2014 - 21:57 | Link to Comment Anusocracy
Anusocracy's picture

Everything is fine.

MSU coach Dantonio got a pay raise to $4 million a year.

Thu, 01/02/2014 - 22:39 | Link to Comment AlaricBalth
AlaricBalth's picture

Citibank 2005 - "The world is dividing into two blocs, the Plutonomy and the rest.

And so begins the infamous report by Citibank which was intended as an eyes only treatise for their wealthy private clients. A report deemed so sensitive by Citi that they had a high powered NY law firm strike it from the Web and threatened anyone who reposted it with costly litigation.

In "The Plutonomy Symposium Rising Tides Lifting Yachts," Ajay Kapur, Citigroup's global strategist writes almost smuggly, "the balance sheets of the rich are "in great shape, and will get much better,".

In conclusion Kapur states, "we believe that the rich are going to keep getting richer in coming years, as capitalists (the rich) get an even bigger share of GDP as a result, principally, of globalization. We expect the global pool of labor in developing economies to keep wage inflation in check, and profit margins rising – good for the wealth of capitalists, relatively bad for developed market unskilled/outsource-able labor."

8 years after this report was selectively disseminated, Ajay has proven to be quite the soothsayer. Of course with a Congress that is bought and paid for, and a Fed which has only its owners as its concern, this prediction was not difficult to foresee.

By the way. The report is still floating around and can be found.

Thu, 01/02/2014 - 22:42 | Link to Comment Grande Tetons
Grande Tetons's picture

Beyond war, inflation, the end of the technology/productivity wave, and financial collapse, 

we think the most potent and short-term threat would be societies demanding a more 

‘equitable’ share of wealth

 

Quote appears on doc found here. 

http://www.correntewire.com/sites/default/files/Citibank_Plutonomy_2.pdf

Fri, 01/03/2014 - 00:01 | Link to Comment AlaricBalth
AlaricBalth's picture

That's from 2006. Interesting read eh?
From 2005 the title is The Plutonomy. Buying Luxury, Explaining Global Imbalances.

Fri, 01/03/2014 - 00:43 | Link to Comment Grande Tetons
Grande Tetons's picture

I found the correct year. Thanks. Interesting reading to say the least. 

Fri, 01/03/2014 - 08:16 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

.....and a set of cuff-links to rule them all.

 

MSU coach Dantonio got a pay raise to $4 million a year.

I'd advise him to put some of that into physical gold.

 

If he wants to be tracked for the rest of his life.....he should consider Bitcoins.

Sat, 01/04/2014 - 07:37 | Link to Comment James-Morrison
James-Morrison's picture

Seattle, WA has elected their first Socialist City Council-Person.

She ran on a income-equity platform and wants to raise the minimum wage to $15. 

Let's see:

Legalize Pot: CHECK

Raise minimum wage : CHECK

Now if she wants to kick-up her game, she should focus on stopping the NSA and ending the FED.  That is the plaform of a reformer.

Failing that, I believe she merely jumped out in front of the populice parade... 

BTW an once of pot in Colorado costs $400.  At the labor rate of $15/hour that is 26.5 hours of work for one ounce of pot. 

Progress?

 

Sat, 01/04/2014 - 09:25 | Link to Comment negative rates
negative rates's picture

The sun don't charge shit, the gvt does though.

Sat, 01/04/2014 - 10:23 | Link to Comment Arius
Arius's picture

@AlaricBalth

below, see link to 2005 Citi's Ayaj Kapur sensitive report ...

 

http://www.youtube.com/watch?v=Lin-a2lTelg

 

it seems everybody know ... LOL

myself, I do believe with hard work you can achieve anything in this country!

Sat, 01/04/2014 - 11:12 | Link to Comment Pegasus Muse
Pegasus Muse's picture

Here's some more Wealth Redistribution.  The sad thing about this Spoof is it’s the Truth.

  ======

MTV Video:  OBAMACARE-Money for Nothing

http://www.youtube.com/watch?v=GObKpWdwJA4&feature=youtu.be

 

Sat, 01/04/2014 - 11:58 | Link to Comment Alfred
Alfred's picture

$400 an ounce? That' street price which includes a risk premium.... where's their risk?

Progess is profit.

Fri, 01/03/2014 - 02:20 | Link to Comment ebworthen
ebworthen's picture

Burn the Hamptons, nuke Wall Street.

Sat, 01/04/2014 - 01:30 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

There is no substitute

Thu, 01/02/2014 - 22:46 | Link to Comment kaiserhoff
kaiserhoff's picture

Bless his pea pickin' heart.

Did he cure cancer or something?

Oh shit.  My bad.  There I go again with rational expectations.

I love football, but splain something to me.  Why is it that the kids are usually respectful of the coaches, zebras, and the opposing team, and the pros can't wait to show their asses?  Enquiring minds want to know...  as if we didn't;)

 

Fri, 01/03/2014 - 23:45 | Link to Comment Wahooo
Wahooo's picture

Why would the rich want to change a thing?

Thu, 01/02/2014 - 22:33 | Link to Comment Hulk
Hulk's picture

and we are at mile 26 !!!

Thu, 01/02/2014 - 22:48 | Link to Comment kaiserhoff
kaiserhoff's picture

Good to see you Hulk.

Where you been hidin' dog?

 

Thu, 01/02/2014 - 23:42 | Link to Comment DaveyJones
DaveyJones's picture

and you remember the story of the first Marathon...and what happened to the guy 

Thu, 01/02/2014 - 23:53 | Link to Comment Soul Glow
Soul Glow's picture

SPOILER ALERT!

He fucking died.

Fri, 01/03/2014 - 00:10 | Link to Comment DaveyJones
DaveyJones's picture

no the guy who died fucking involved love not war

and he's a lot more famous

Fri, 01/03/2014 - 07:45 | Link to Comment Patriot Eke
Patriot Eke's picture

Nike!

Sat, 01/04/2014 - 01:19 | Link to Comment Jam Akin
Jam Akin's picture

You referring to that Rocky Feller who died in the saddle back when Davey?

Fri, 01/03/2014 - 08:50 | Link to Comment caShOnlY
caShOnlY's picture

Think best horse in the glue factory, or last fiat standing

Think "GOLDyuan"

Sat, 01/04/2014 - 10:51 | Link to Comment saveUSsavers
saveUSsavers's picture

$10.8 TRILLION stolen from savers since 2001 (using historical mean 5.8% savings yield) h/t ZH !

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2...

Thu, 01/02/2014 - 22:15 | Link to Comment Musashi Miyamoto
Musashi Miyamoto's picture

True that. In Mexico and Canada everyone knows what the conversion rate is. Ask the clerk at a local 7-11 see what he says.

Edit. Many people, not everyone

Fri, 01/03/2014 - 02:25 | Link to Comment Hapa
Hapa's picture

lots of third world people treasure their dollars in their mattresses, in the face of their even weaker local fiat currency. It's going to take awhile to change perception in those parts, as long as they can still exchange it for value.

Fri, 01/03/2014 - 23:13 | Link to Comment BenwaBall
BenwaBall's picture

LOL what? 

Fri, 01/03/2014 - 06:00 | Link to Comment Squid-puppets a...
Squid-puppets a-go-go's picture

i upvoted you Jann coz ur link gave me an epiphany. One that others will udoubtedly cite as evidence of my inability to connect certain dots but anyway:

The US gov has to act quickly to reset the price of gold much higher. Every day this flow of gold from west to east continues means a greater arbitrage for asia when market forces reassert themselves.

Even if the U.S. has a temporary 'agreement' to supress gold to compensate china for a debt reset, the US has to put a stop to the haemmorhage of physical to keep some leverage AFTEr the reset

the clock is ticking.

stack with urgency my friends

Fri, 01/03/2014 - 08:56 | Link to Comment caShOnlY
caShOnlY's picture

The US gov has to act quickly to reset the price of gold much higher.

Never.gonna.happen.  That act is by itself is an admission of "gold is money" or better yet "gold is the ONLY money".  They don't care about gold.  They care about consumption, as consumption is what drives our trading partners economies and keeps the dollar safe.   Look at the TPP, all about "TRADE and CONSUMPTION".   It opens the doors of the "king consumer land" and keeps the dollar as the trade currency. 

If TPP is approved the Brics will announce a gold backed trade currency to counter the "Consumption trade dollar".

 

Sat, 01/04/2014 - 01:36 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

I think it is a more viable possibility that China follows the same path as the US in manipulating the price of Gold

Thu, 01/02/2014 - 21:16 | Link to Comment MFLTucson
MFLTucson's picture

The American con man Obama said he was a man of the middle class and you fuckin fools belied him!

Thu, 01/02/2014 - 21:18 | Link to Comment Uber Vandal
Uber Vandal's picture

I proudly voted for Kodos.

Thu, 01/02/2014 - 23:39 | Link to Comment toady
toady's picture

Damn it man! You KNOW Kang is the right one for president!

Sat, 01/04/2014 - 07:24 | Link to Comment Son of Loki
Son of Loki's picture

The Machinists union, by a slim margin, on Friday night agreed to reduced benefits in a deal that should ensure Boeing’s new 777X jet will be built in Washington state.

 

Boeing and the Machinists had been waging a test of wills over the deal, which includes a pension freeze and higher health care expenses.

 

http://www.nbcnews.com/business/boeings-machinists-union-oks-benefit-cut...

Fri, 01/03/2014 - 00:18 | Link to Comment cynicalskeptic
cynicalskeptic's picture

The American con man Obama said he was a man of the middle class and you fuckin fools belied him!

As if the alternatives offered would have been any better?  

The Republicans pander blatantly to business while the Democrats do so as well while throwig a few cumbs to the masses.

The American political system has been co-opted by the wealthy and powerful.  Two parties pretend to have differences - on things that really DON'T matter - while both serve their corporate masters.  BOTH parties have enthusiastically embraced 'Free Trade'  (the wholesale offshoring of American jobs) while giving lip service only to 'job growth'.  It would have been easy to link TARP to job repatriation (bring BACK all the DP and call center jobs financial firms had offshored and forbid further offshoring) but NOOOOOOOOOOO.........

Look at how ANY third party alternative is treated by the existin power structure and you'll understand the agreement in place to 'split the spoils' and keep competitors out.  It preserves the illusion of a Republic and choice for the voters while acting as an oligarchy. 

Fri, 01/03/2014 - 07:40 | Link to Comment gwar5
gwar5's picture

Yes, the alternative was fucking waaaay better!  

 

For starters, with a Republican in the White House the liberal press would be forced into telling the truth again and not cover up the huge lies like NSA mass surveillance, the fucked up real economy, the huge unemployment numbers, IRS political targeting of individuals, arms to al-Qaeda, Benghazi, arms to drug cartels, Solyndra, and the current huge wealth redistribution going to the rich, courtesy Obama. 

Secondly, just through the change of adminstrations you would slow down the machinery and stop the socialist momentum because it would take them a year to get up to speed. You would slow down Obamacare (redistribution) by changing HHS secretaries, etc.

And why do you still believe the discredited propaganda that only the GOP are for the rich even as that canard is once again laid waste by the above article? Obama has presided over the greatest transfer of wealth in recent history (all time?). How can that propaganda still work like a cloaking device on people like you?

Delay, delay, delay and live to fight another day. Give up like a sheep and you will get slaughtered.

 

 

 

 

 

 

 

Sat, 01/04/2014 - 10:22 | Link to Comment rwe2late
rwe2late's picture

 gwar5

your argument rests on questionable premises.

beginning with the "liberal" press?

Support for global militarism, TBTF handouts, and martial laws is not "liberal". Neither is it "conservative". The media has evolved into a mouthpiece for its corporate sponsors and government. Characterizing the media problem as one caused by having a "liberal"(or "conservative") ideology is misleading.

Would the 'new' lobbyist-loving neo-liberal Democrat party (Clinton, Feinstein et al) really seriously object to the same policies of financial corruption, militarism, and martial laws that they regularly vote in favor?

Nowadays, Democrat objections to "Republican" policies

appear no more real than Republican objections to "Democrat" policies. I perceive distinctions without real difference.

Anyhow, some will imagine scenarios whereby Obama prevented worse. Others will imagine scenarios with Republicans preventing worse.

But for me, I have had enough with these lesser-of-two-evils scenarios. The sooner such evil offerings are seen as actually no choice worth accepting, the better we will all be. That's my imagined scenario.

Fri, 01/03/2014 - 01:53 | Link to Comment darteaus
darteaus's picture

He's from Omerika?

Fri, 01/03/2014 - 08:01 | Link to Comment Rafferty
Rafferty's picture

And Romney or McStain were better options?

The game is rigged. TPTB allow only approved candidates to stand.

Sat, 01/04/2014 - 08:31 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

The deck was stacked with progressives......we didn't stand a chance.

Fri, 01/03/2014 - 09:06 | Link to Comment caShOnlY
caShOnlY's picture

The American con man Obama said he was a man of the middle class

No CON there: when he was elected he was a man of the middle class.  And just like Slick Willie he too will eventually be worth over 100 million after giving some world wide speeches.

The CON is all he promised and never talked about again.  Remember how he was going to revise NAFTA? .....lol   His job is to protect the interests of the wealthy by selling the sheeple empty promises.

Sat, 01/04/2014 - 15:26 | Link to Comment jomama
jomama's picture

he merely parroted what he was told to say.

Thu, 01/02/2014 - 21:16 | Link to Comment kaiserhoff
kaiserhoff's picture

Great piece, and ZH has been in the lead on this from the beginning, but let's not forget the importance of cronyism, Indonesian Style, just giving big chunks of money and power to the favored few, enforced by government guns.

Which American President was born in Indonesia?  I forget.

Thu, 01/02/2014 - 21:34 | Link to Comment Tulpa
Tulpa's picture

There were rumors that Martin Van Buren was really born in the Netherlands, but probably not the Dutch East Indies.

Thu, 01/02/2014 - 22:53 | Link to Comment kaiserhoff
kaiserhoff's picture

I learn something here every day.

I'm sure the Messiah will testify on a stack of Korans, that he was born in Hawaii, almost a state, and a great place to golf, if you have your own damned airplane at taxpayer expense.

Anyway, who can doubt him?  He was there, so he should know, right?  Right?

Just passing strange that not a single, doctor, nurse or orderly remembers a white woman giving birth to a black baby, back in Guess Who's Coming to Dinner, days.

Aw, hell, no one remembers him at Columbia either.  Doo doo happens.  More all the time.

 

Fri, 01/03/2014 - 07:33 | Link to Comment CuttingEdge
CuttingEdge's picture

Obama will be remembered for a very long time - as the man who destroyed the US middle class by wiping out their disposable income with his ACA.

And that Obamaturd is the biggie splashing the pan for 2014, methinks.

 

Fri, 01/03/2014 - 07:52 | Link to Comment Patriot Eke
Patriot Eke's picture

He's a fall guy.  The man might as well have been elected with a red shirt on (multiple meanings there of course).

Sat, 01/04/2014 - 00:59 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Bernanke did this shit.  His response to the 2008 financial crisis was to pump up the stock market as much as possible so as to test his doctoral thesis on the Great Depression.  Well, we're not in a depression yet, but it's not over yet, and in the meantime Bernanke's policies of QE enriched creditors and bankster recipients of Fed free notes at the expense of debtors. 

Thu, 01/02/2014 - 21:23 | Link to Comment seek
seek's picture

"B - QE has resulted in a loss of purchasing power for the US dollar."

I posted a couple days ago -- US M2 has increased 25% in the past two years thanks to QE. Meaning ultimately the dollar has been diluted by about this much. And incredibly gold has fallen from $1900 to $1200.

The level of theft involved here is unconscionable.

Thu, 01/02/2014 - 21:31 | Link to Comment Chupacabra-322
Chupacabra-322's picture

What's amazing is that all of this Criminality is being conducted out in the open for all the world to see as opposed to "hidden in plain view", & no one is doing anything about it.

Thu, 01/02/2014 - 21:43 | Link to Comment seek
seek's picture

I think it's still "hidden in plain view" in the sense that there's very little real coverage of it on the news, with context about what it means and how they're getting screwed by it.

The other issue is the magnitude of it is incomprehensible to most, and that it's done in a way that the average person doesn't understand it. Flat out take 25% of someone's savings overnight and have the balances reduced by that much with the statement showing the disappeared balance as a "fee to greedy bankers" and there'll be Mercedes burning in bank parking lots all over the US. Reduceing purchasing power by the same amount over two years has the same effect, but all the typical person knows is that it's a lot harder to get by and that inflation in the checkout line doesn't match the rare story they hear about it on TV.

If every major news site ran daily stories that explained how people were getting fucked in terms a five-year-old could understand, the internet would be shut down within a couple weeks.

Thu, 01/02/2014 - 22:01 | Link to Comment Tulpa
Tulpa's picture

I don't believe that.  We don't have state-run media or any coercive censorship in the US.  Anyone who gives a damn can log on to ZH or another anti-establishment site and get a different POV; they overwhelmingly choose not to -- an understandable if chicken-hearted reaction.  This place sometimes makes me want to smash my fingers and gouge my eyes out -- Dancing With The Stars would be a hell of a lot more enjoyable.

Thu, 01/02/2014 - 22:20 | Link to Comment Skateboarder
Skateboarder's picture

When decades of newspapers, magazines, and teevee have gotten you by the balls, i.e. they own the way you think, there's no one to follow but them. It took the likes of Conan to showcase media desk scripts...

I was having the argument about reliability, validity, and truth with my friend. "Just what do you consider to be a reliable or valid or truthful source?" For some it's the newspapers, magazines, and teevee they grew up with. Anything outside of that is fringe low-brow untruth territory because they have a firm belief that whatever is presented in the corporate media is generally true. So now you have third party journalists like Tyler and the hundreds of blogs that present truthful information. Furthermore, these journalists permit the exchange of thoughts from everyone. In these pools of comments, you will find a grand range of expression of thought and dialogue as well as enough datapoints for you to form what you think is the average consensus. Is that not one of the best forms of learning the truth about something? And is it not a valid source when confirmed to consistently present truthful information?

Why so scared to explore, Joe Average? Scared your worldview will crumble in front of your face and you'll have nothing to replace it with?

Thu, 01/02/2014 - 22:45 | Link to Comment Al Huxley
Al Huxley's picture

They're not scared, they just aren't interested, sad to say.  Most people care a lot more about their casual pastimes, sports pools, office gossip, etc. and as seek pointed out, the process of wealth transfer is stealthy enough that, while most people can sense it, they can't put enough of a finger on it to get more interested and angry about the situation (or I suppose some do, AFTER they've been so far marginalized and ejected from the system that there's nothing they can do, as they're engrossed in their daily battle to survive at that point).

 

Also, the top 20% are still doing well enough to think the system is working for them, as opposed to noticing the precariousness of their situation - that soon enough many of them will be joining the bottom 80.

Thu, 01/02/2014 - 23:06 | Link to Comment kaiserhoff
kaiserhoff's picture

Hell yes.  I grew up among farmers with 8th grade educations.  They thought in seasons, years, and generations.

Now I work mostly with people with multiple degrees, and I'm amazed when someone thinks past next Teusday.

There will be a morning after, and it will be a come as you are prepared party.

Thu, 01/02/2014 - 23:57 | Link to Comment Soul Glow
Soul Glow's picture

I'd rather be farming.  Here's to next spring.

Fri, 01/03/2014 - 01:24 | Link to Comment CultiVader
CultiVader's picture

I just farmed and I'm ready to farm again! No, really. The best thing about farming is another season and crop is always just ahead of you.

Fri, 01/03/2014 - 05:55 | Link to Comment Curiously_Crazy
Curiously_Crazy's picture

And to play the devils advocate - coming from several generations of farmers - the worst thing about farming is after a crop failure having the realisation that after all the input costs the entire year you worked you would have been better off not even getting out of bed in the morning. Of course the good years make up for it but it's still a heartbreaking experience.

Note: I'm in a one crop per year climate.

Fri, 01/03/2014 - 07:56 | Link to Comment Patriot Eke
Patriot Eke's picture

"Simple" farmers with rifles defended liberty once before, and my hope is that they'll do it again.  I will be standing with them too.

Sat, 01/04/2014 - 10:11 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

 

We don't have state-run media or any coercive censorship in the US.

 

We don't?

When did that happen?

 

Let's be honest here.....RT is more uncensored than most anything here in the states.

 

Pop quiz...I would gladly sit at the right hand of satan<----who said it?

Sun, 01/05/2014 - 15:27 | Link to Comment fedupwhiteguy
fedupwhiteguy's picture

walter cronkite. yeah. i'll bet the older boomers and the greatest generation are shocked at that revelation. 

 

http://bluegrassbulletin.typepad.com/bluegrass_bulletin/2009/07/walter-cronkite-dies-after-sitting-at-the-right-hand-of-satan.html

Fri, 01/03/2014 - 08:19 | Link to Comment tip e. canoe
tip e. canoe's picture

possible solution:

diversify with polyculture & perennials

Sat, 01/04/2014 - 04:46 | Link to Comment CultiVader
CultiVader's picture

Oh i've lost a couple myself as well. In fact I took a fucking kick to the groin this year after blight devastated my early tomatoes back in march. Used up a lot of the dry powder after that one. Dug deep and trusted my knowledge and technique, kept my confidence high (really no other option but). I am greenhouse hydroponics in N. Cali and can turn over everything 5 or 6 times a year (toms, gourmet greens)

Thu, 01/02/2014 - 23:57 | Link to Comment edotabin
edotabin's picture

Yup all true and extemely sad.  I walk along the street and almost literally see zombies instead of people. It's really, actually and truly scary at this point. Hugely disconnected fom such people  and proud of it!

Fri, 01/03/2014 - 00:12 | Link to Comment NickVegas
NickVegas's picture

They have not figured it out because the inflection is now. We are all temporarily embarrassed millionaires. I know there is no going back. I knew it when my job, yup, my job, my industry, my rent, my skill set and my income, got shipped to Mexico, and then China. NO NEED TO BUILD ANYTHING, JUST PRINT IT UP, ITS MAGICAL.

Fri, 01/03/2014 - 07:59 | Link to Comment KickIce
KickIce's picture

Exactly, a dumbed-down populace is getting what it wants and deserves.

Jefferson:  "Enlighten the people generally, and tyranny and oppressions will vanish like evil spirits at the dawn of day".

Sat, 01/04/2014 - 12:07 | Link to Comment Raging Debate
Raging Debate's picture

Alex Huxley, your right about most people that bury there heads in the sand. I had a business partner for ten years up until 2011. Excellent brand manager type and good at what new software was going to help efficiency.
Anyways, even after I was right about the depression coming I forecasted i. 2007 for happening in Q4 of 2008 and why, by 2011 I told him the remedy (like our business) for his personal finance was to downsize.

He told me even though I may be right he "just had to believe things will get better."
While this is also true, the market can stay irrational (most here understand why) longer than one can stay solvent. Now he is almost 50k in debt and will likely lose his home.

As for me I downsized and this is the first year I am seeing some growth potential (a smidgeon and because we're positioned just right in the market in demand and lean and mean). He was arguing for me that he deserved more money than what he sold his equity to me for in 2011. So he is desperate but still not listening. There's 90% of the population for you. His income is the same as 2005 but his expenses based on inflation have increased 30%+.

Thu, 01/02/2014 - 22:57 | Link to Comment NIHILIST CIPHER
NIHILIST CIPHER's picture

Skateboarder,     EXCELLENT POST.

Fri, 01/03/2014 - 00:04 | Link to Comment Rusty Shorts
Rusty Shorts's picture

Great post Skateboarder!!

Published on Dec 19, 2013

Seafood have never been cheaper in Fukushima Prefecture Japan. Seafood without certificate of origin at fish wholesalers sells cheaper and end up in cheap sushi restaurant at one dollar to 1.30 a small red plate. 
Ordinary people do not understand the physics. Who does understands fully? Who cares?
Impoverished ordinary citizens used to obeying orders during their lives are too tired to think. 
We seen and met many of them in onsen (mineral public baths) and Japanese pubs. Tired and worn out by a life of just work they do not question authority. They respect. 
Small restaurants are their pleasure. Like it was for us sharing their doses of bequerels and having a small slice if their sushi. 
Bless them!

 

http://www.youtube.com/watch?v=lBBt_U_UpQQ

Fri, 01/03/2014 - 01:49 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

The poor and uneducated seem to be always unfairly targeted by the ruthless. I have a friend in Tijuana public health who told me a gruesome story. A few years ago they had a rash of cases of Taenia solium ( pork tapeworm) infections. These are serious because pork tapeworm has a predilection for the brain, forming masses that often cause seizures. Cysticercosis is not too common in Mexico but they suddenly saw many cases even in children. The people getting it were in remote villages and were quite poor. The common story was a group of butchers were visiting these people and selling very cheep pork. The term translated into English was " meat with bumps" and they bought it eagerly because of the price. Unfortunately, they did not cook it properly and got infected with pork tapeworm.

When my friend finally caught these unscrupulous men and found their pigs he was shocked how bad it was. Numerous dead pigs and piglets from a massive parasite load which is unusual because pigs are considered the intermediate host. Obviously these men knew they couldn't sell this meat in a regular market so they took advantage of the poor and ignorant. A common theme in this world that never seems to end.

Miffed;-)

Sat, 01/04/2014 - 07:47 | Link to Comment thunderchief
thunderchief's picture

The South Koreans just found cesium in imported Japanese Sweets.
Hush Hush!

Sat, 01/04/2014 - 10:58 | Link to Comment BurningFuld
BurningFuld's picture

That's actually a good thing. You can find your treats at night without turning on the lights thereby saving energy.

Fri, 01/03/2014 - 02:37 | Link to Comment Deo vindice
Deo vindice's picture

Skateboarder - you ask, "Why so scared to explore, Joe Average?"

I'll tell you why. Because in those quiet moments when people actually come close to doing some serious thinking, they are inevitably faced with truth (or at least a reasonable facsimile of it), and they are afraid.

Most people will choose to remain comfortable in believing a lie than accept the discomfort of believing the truth.

It's not the side of "truth" or "lie" that people choose to defend, but rather their predisposed comfort levels in their current way of life - even when they know it is morally and ethically wrong.

Fri, 01/03/2014 - 08:28 | Link to Comment BeansMcGreens
BeansMcGreens's picture

"Most people will choose to remain comfortable in believing a lie than accept the discomfort of believing the truth." 

 

And go to John 3:19 in the Bible to see why they are comfortable, Because They Loved Darkness Rather Than The Light!!!  Why would anyone believe that this world will get any better.  Jesus Christ summed it all up when He said  (and He is the Truth)  "And ye shall know the truth, and the truth shall make you free".

Fri, 01/03/2014 - 08:28 | Link to Comment tip e. canoe
tip e. canoe's picture

yup

Fri, 01/03/2014 - 08:12 | Link to Comment Rafferty
Rafferty's picture

They're not scared, they just aren't interested,

Exactly.  Ever tried to engage an Ordinary JSoe on such issues?  Eyes glaze over. Hence the strategy of bread and circuses andf mind-rotting entertainment to distract and dumb down the mob.

Thu, 01/02/2014 - 22:28 | Link to Comment i_call_you_my_base
i_call_you_my_base's picture

The media censors itself. The media looks out for the elite because they are the elite.

Thu, 01/02/2014 - 22:47 | Link to Comment Al Huxley
Al Huxley's picture

They aren't the 'elite', but they are owned by the 'elite' (I don't like to use the term 'elite' -its far to complementary).

Thu, 01/02/2014 - 23:44 | Link to Comment NoDebt
NoDebt's picture

They are invited to sit at the table of power from time to time but they confuse that with membership in the club.  Unions got their first taste of this cold reality under Obamacare (sorry, no special carve-out for you, says Obama).  The media hasn't wised up yet that they're just useful pawns, too.

Fri, 01/03/2014 - 00:09 | Link to Comment disabledvet
disabledvet's picture

wall street's man in DC (Greenspan) blew up wall street in 2008. interestingly "no apologies necessary" has been his response "upon his victorious return to The City." having successfully obliterated financing at the State and Local level the only left to do is to get the Federal Government itself hooked on the borrowing "never to repay" opium.  hence "taper."  forget merely targeting the "middle class" this strikes me as a direct shot at Big Government itself.  the sheer audacity..if true and i believe it is...is breathtaking.  i can't say if this Administration has played right into "Operation Cattleprod" but there sures seems like a lot of "bought and paid for" that has paid to play (and be played?) here.  Obviosuly I think the big winners are those who can help both sides win here.  front and center is Kinder/Morgan which is a pure capitalist as it gets...yet strikes me as just as pure "gunslinger as law and order everytime" right here.  I can think of a bunch of others (Buffet, Bezos, Musk, etc) but they have been a reare breed actually.  What  i think most politically motivated CEO's don't get is that the Government wants success stories not "yet another office seeker."  the irony that the most politically incorrect businesses have done best in DC should be lost on no one in my view. That was my experience in the military actually.  I don't think i'm carrrying on the tradition very well though.  Somewhere along the line i forgot about me.

Sat, 01/04/2014 - 09:26 | Link to Comment negative rates
negative rates's picture

Yea those are the worst kind, at least ur not advertizing it.

Sat, 01/04/2014 - 08:15 | Link to Comment mvsjcl
mvsjcl's picture

Yeah, Hux. I like "parasitic class."

Fri, 01/03/2014 - 01:14 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

Tulpa, I'm sorry but you are just wrong. I realized for many years that things were horribly wrong with the country. Our purchasing power was steadily diminishing and inflation was rising insidiously. Yes, i did look for answers in MSM and when i realized it was all lies I turned it off and forged out for my own answers. Believe me, even working diligently it was very difficult to find credible facts. Only through a chance link off of Drudge did I find ZH. Then it was "Oh my fucking God" revelation after weeks of reading, taking notes and numerous trips to investopedia to even scratch the surface of understanding what was being presented. My husband just kept saying " give up sweetie, this is so out of your league, you'll never get this" which just renewed my stubborn resolve.

Yes, most around me, especially professional colleagues, are still quite asleep. They are generally in a higher income bracket and at least 10 years older. But, even they are showing signs of concern. Many who bragged to me they were planning to retire last year are still working. All of them are bringing lunch to work when they used to eat out everyday. Little things perhaps but it shows there are signs of concern and the Matrix may be cracking a bit.

My way up the mountain is straight up. That is just my personality in everything. Others may prefer a million switch backs to get to the same spot. Ultimately, the only issue is time.

Miffed;-)

Fri, 01/03/2014 - 02:28 | Link to Comment Element
Element's picture

Fear not, Disney will invest in massive new theme parks and provide all with a better life as a well-padded mascot. May be some microbiology in the crotch-area over summer ... bring your own talc ... would be pity to get taken out by hemorrhagic mickey-mouse-crotch.

Fri, 01/03/2014 - 02:30 | Link to Comment starfcker
starfcker's picture

Miffed, that's so funny. i found ZH linking off drudge or realclearfinance or something when it was new, and i was more ignorant than you were. i thought tyler durden was a real guy somewhere, trading financials in a flannel shirt. it was very hard to read back then, so many acronyms and so much inside baseball. still a lot of things on here that are incomprehensible if you missed one quote, one comment. i used to figure my comprehension at about 30%.but it was good, and it went straight to the heart of the matter i wanted to learn about.

Sat, 01/04/2014 - 10:57 | Link to Comment 29.5 hours
29.5 hours's picture

 

 

Good insight, as always, Miffed.

 

Let's see what 2014 brings...

Sat, 01/04/2014 - 05:52 | Link to Comment trader1
trader1's picture

you're looking at it backwards.

the media and other big corporations run the american state.  

Thu, 01/02/2014 - 22:07 | Link to Comment kaiserhoff
kaiserhoff's picture

What the well feathered Dude said;)

Thu, 01/02/2014 - 22:08 | Link to Comment starfcker
starfcker's picture

Right seek, and why do you think this isn't leading every news outlet everyday? because FCC chairman michael powell was busy abolishing the rules that prevented media monopolies at the exact same time his uncle tom daddy colin powell was busy lying us into iraq. nice family of traitorous scum, eh?

Thu, 01/02/2014 - 22:31 | Link to Comment rocker
rocker's picture

You be a Smart One. The hillbilly who has no teeth also has no clue.  But I bet he has a gun and moonshine.

Thu, 01/02/2014 - 22:37 | Link to Comment Al Huxley
Al Huxley's picture

Excellence summary of the situation seek.

Fri, 01/03/2014 - 02:53 | Link to Comment darteaus
darteaus's picture

Well, they'd better not run those stories if they know what's good for them then.

Thu, 01/02/2014 - 22:04 | Link to Comment Anusocracy
Anusocracy's picture

Just ask 100 random individuals how these problems could be fixed and you will understand the real problem.

Thu, 01/02/2014 - 22:15 | Link to Comment denverdolomte
denverdolomte's picture

Damn straight. 

Fri, 01/03/2014 - 02:25 | Link to Comment Deo vindice
Deo vindice's picture

The majority of them will likely ask, "There's a problem?"

Fri, 01/03/2014 - 02:49 | Link to Comment darteaus
darteaus's picture

What problem?  Comcast charging us for extra channels?  Neighbor's dog peeing on our lawn?  Budweiser going up in price?

Thu, 01/02/2014 - 22:45 | Link to Comment williambanzai7
williambanzai7's picture

Fri, 01/03/2014 - 08:04 | Link to Comment Ghordius
Ghordius's picture

"Bonds are bought from Primary Dealers, which have much more diverse lines of business than traditional banks". How true. And fitting, if you think that one of the currently most important entites with the status of Primary Dealer is... China

meanwhile the real economy is a bit more complex than that, imho. it's more like a "triple canopy jungle": the hyperfinancialized megacorps, the middle sized enterprises (stocklisted and not, bond-issuing and not) and the small stuff. when it rains liquidity, they grow at different rates

Sat, 01/04/2014 - 08:37 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Complex.......cute word for managed BS. 

Thu, 01/02/2014 - 23:35 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

Many on Zero Hedge actually root them on. You all cheer when hard working Americans are stripped of pensions(deferred compensation). You chuckle at anyone who doesn't have "skills" like shuffling stocks or filing frivolous lawsuits that demands a living wage. You decry government programs that feed children. It's all so sad. You are all so wrapped up in the theoretical idea of capitalism that you read in books to understand about pain and suffering.

Thu, 01/02/2014 - 23:42 | Link to Comment A Lunatic
A Lunatic's picture

No one minds feeding children so much as they mind being robbed of the fruits of their own labor in exchange for unfulfilled political promises to feed the children.........

Thu, 01/02/2014 - 23:58 | Link to Comment Soul Glow
Soul Glow's picture

Don't judge me.

Fri, 01/03/2014 - 01:54 | Link to Comment darteaus
darteaus's picture

Good one!

Fri, 01/03/2014 - 00:03 | Link to Comment williambanzai7
williambanzai7's picture

There are a few trolls here who root them on, such as athe asshole who junked the chart.

There others though, who have strong opinions about the proper size, nature and funding of the social safety net. 

Don't fall into the trap of confusing the two.

Sat, 01/04/2014 - 09:31 | Link to Comment negative rates
negative rates's picture

Well maybe if were not the size of ur head you would get junked.

Fri, 01/03/2014 - 04:49 | Link to Comment starfcker
starfcker's picture

hey bangin, point taken on the indifference displayed here on occasion when good hard working people get wronged, on that i agree with you completely. that said, what is your position on cops, firemen and teachers who, when property values soared in the real estate bubble, kept demanding and voting themselves more exorbinant and ridiculously generous helpings of my tax dollars? real estate had 5 bubble years so now i need to be taxed out of my property so they can retire rich at 45? because they got prooooomised. fuck them. work till 65, motherfuckers. graft is graft. no more excusable just because it wears a uniform or teaches children.

Fri, 01/03/2014 - 02:39 | Link to Comment darteaus
darteaus's picture

They're doing something about it: they're jumping on the band wagon!

"Money, it`s a gas, grab that cash with both hands, and make a stash"

Sat, 01/04/2014 - 11:18 | Link to Comment Race Car Driver
Race Car Driver's picture

> ... is being conducted out in the open for all the world to see ...

They're either too ignorant to understand what they're seeing - or their face is buried in their iCrap and social surveillance apps to notice. Go try and tell them - the ignorant and the distracted - and they'll ignore and deride you, if they can even comprehend what it is you're talking about.

They don't want to know and will take their electric shocks with dogged indifference.

 

Thu, 01/02/2014 - 21:31 | Link to Comment denverdolomte
denverdolomte's picture

I've talked to a large number of people about this topic of "theft", i.e. LIBORGate, Gold, and other market manipulations, the scariest part I have seen is that people can't wrap their minds around the sheer size with the implications of such actions. I hear a lot of "well that doesn't directly effect me" or "I'm sure they will face charges for that"....which is hilarious when I hear that. But I agree that is just insane to think about what has happened and to what level of magnitude we are seeing it continue to grow too. 

 

Thu, 01/02/2014 - 21:37 | Link to Comment Chupacabra-322
Chupacabra-322's picture

Don't expect mass arrests anytime soon. Globalists don't arrest one another. It's a criminal system, owned by criminals & run by The Global Criminal Oligarch Cabal Bankster Intelligence Crime Syndicate.

Thu, 01/02/2014 - 21:38 | Link to Comment denverdolomte
denverdolomte's picture

+10 :: YUP. I gave up explaining that to people ages ago, because most people simply can't understand that simple fact. If someone steals your car you want them put in jail, if someone steals your economic livelihood you just got f'ed and have no idea what to do. 

Goal of this year is to become as unattached to the system as possible with the means at which I have available to me.

Thu, 01/02/2014 - 22:12 | Link to Comment Grande Tetons
Grande Tetons's picture

You are about to embark on the best journey you will ever make. 

I started to cut the cord in 2009 and I am at the end of the process. No regrets. None. 

Thu, 01/02/2014 - 22:12 | Link to Comment Chupacabra-322
Chupacabra-322's picture

The moment The American People stop CONSENTING / Contracting with the Criminal Fraud that is THE UNITED STATES, CORP. The sooner we can begin to defund the Criminal Entities of the Alphabet soup agencies.

Stop funding your own Debt Bondage & Enslavlement.

Pack a Gun & Pay NO TAX. Peaceful Non-Compliance,Non-Participation into their Crimianl System based on Criminal Fraud.

Fri, 01/03/2014 - 08:33 | Link to Comment Drifter
Drifter's picture

How does someone with a job stop paying tax?  It's taken out of their pay before they get their pay.

And what good is a gun going to do on the "non-compliance" front?

Fools like you give conservatives a bad reputation.

 

Thu, 01/02/2014 - 22:05 | Link to Comment GVB
GVB's picture

DSK requested gold-audit and what happened?

Thu, 01/02/2014 - 23:31 | Link to Comment Skateboarder
Skateboarder's picture

No one remembers him anymore because he's ancient history in goldfish-memory-time. That's what happened.

Fri, 01/03/2014 - 02:40 | Link to Comment Hapa
Hapa's picture

In the end, they will kill each other as the finger pointing begins.  Don't understimate the fear that these people will have when the system goes down.  Every second and third tier person wil be trying to save their hide by pointing at their peers so they can take the fall. There is dirt everywhere, and much of it will surface and be the evidence needed to take down multitudes of thieves.  The sight will be breathtaking as the accusations fly. Karma

Thu, 01/02/2014 - 21:37 | Link to Comment Tulpa
Tulpa's picture

Sounds like the financial equivalent of "kill a person and you're a murderer, kill a million people and you're a world leader".

Thu, 01/02/2014 - 23:42 | Link to Comment DaveyJones
DaveyJones's picture

"The level of theft involved here is unconscionable."

that's why most of those involved do not have one

Thu, 01/02/2014 - 21:25 | Link to Comment A Lunatic
A Lunatic's picture

Yet somehow the 94 of the 98% don't give a rats ass.........

Thu, 01/02/2014 - 21:36 | Link to Comment seek
seek's picture

Why would they? All their news sources are expertly avoiding bringing any attention to the issue, while pointing to how much skin Miley Cyrus is showing.

Seriously, just a couple days ago CNN was leading with Duck Dynasty on breaking news, on the same day a US Federal judge said the NSA spying was legal was buried in an 8-point type three scrolls down on the page.

If the teleprompter in chief held one of his daily news conferences and said point blank that the banks had just taken 1/4 of their bank accounts and that the people deserved to starve, they'd give a rat's ass -- but everything is done in the shadows, and slowly so as to not wake them up. And even with that, I believe that more people are awake about the shit that's being done to them today than at any point in the past.

This shit will come back to bite TPTB. There's a reason they've re-written the laws to enable bail ins and they're stocking up on ammo.

Thu, 01/02/2014 - 21:45 | Link to Comment A Lunatic
A Lunatic's picture

So did CNN say if there is or is not going to be a Civil War between duck hunters and homosexuals this year.......??

Thu, 01/02/2014 - 22:00 | Link to Comment denverdolomte
denverdolomte's picture

Don't know why but that sentence made me laugh my ass off. 

Thu, 01/02/2014 - 22:14 | Link to Comment Grande Tetons
Grande Tetons's picture

Sexual repression is a human disease. Ask the mighty Bononbo. 

http://www.youtube.com/watch?v=cqDmS3-zGTg

Thu, 01/02/2014 - 22:43 | Link to Comment NeedtoSecede
NeedtoSecede's picture

+1000 Lunatic.  Even though it is early in the year, this one will be one of the top comments of 2014.  Very funny. 

If you are a homosexual duck hunter, which side will you take?  Just wondering...

OT, but I was driving through eastern Arkansas earlier this week, and damn, there were a lot of ducks around. Lots of water this year, and the ducks and geese were thick.  Made me hungry just seeing all those tasty critters...  If you are a duck hunter and have the time  and the funds to make it down that way before the season ends, you need to do it.

Thu, 01/02/2014 - 23:04 | Link to Comment A Lunatic
A Lunatic's picture

I almost went duck hunting in Arkansas a few years back but could not find any definitive information regarding whether or not I had to marry my sister in order to get my license or if I could simply bring her along as a date.......

Thu, 01/02/2014 - 23:32 | Link to Comment Skateboarder
Skateboarder's picture

Man, the funny don't stop here. Take all my upvotes.

And see if your mouse skills can match your plastic gun skills:

http://www.tripletsandus.com/80s/80s_games/duckhunt.htm

Thu, 01/02/2014 - 23:46 | Link to Comment boattrash
boattrash's picture

Hey Lunatic, I've got some Great Duck Hunting spots here in Arkansas. If your sister is hot, y'all come on down, I'll bang your sister while you shoot a few ducks. Everybody will go home happy!

Thu, 01/02/2014 - 23:52 | Link to Comment A Lunatic
A Lunatic's picture

Well, to be honest she is only my half sister, but I think Mrs. Feinstein would graciously accept your kind invitation, especially with a little prodding on your part........

Thu, 01/02/2014 - 23:57 | Link to Comment boattrash
boattrash's picture

+1-Married and joking anyway. Great to see humor is still alive in 2014! Happy New Year to ya!

Fri, 01/03/2014 - 00:48 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Seek, you truly get "it."

It's time to become self-sufficient on a level not necessary since the turn of the last century, boys & girls. China & Japan are each so sick, although in different ways, that their Great Crashes will spark the next global meltdown.

The writing is literally on the wall, in plain view, at this point.

The west (U.S. and EU) are sick too, obviously, but it's the now unfolding crash in Japan & China that will push the globe into a bona fide meltdown - one where they're damned if they print or not (i.e. printing can't delay it any longer &will actually hasten the crash).

Thu, 01/02/2014 - 23:40 | Link to Comment Milestones
Milestones's picture

Looking at all the germane demographics, they had better be stockpiling up some trigger fingers also. One tinsey winsy little probem; most of those trigger fingers have no more morality than the scum themselves.

Hell the wealthy have opened up the bank for plunder and invited the thieves in thru the back door. Bad, bad move, but they don't really have much choisen now do they?        Milestones

Fri, 01/03/2014 - 01:17 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

Cue the virus...

Fri, 01/03/2014 - 02:00 | Link to Comment darteaus
darteaus's picture

Wow, you are annoying!  Put the Kardashians back on!

Fri, 01/03/2014 - 04:00 | Link to Comment putaipan
putaipan's picture

shit. i can't even enjoy a good distraction any more .... i thought he typed miley cyprus. i sure could use a good virtual steak right about now.

Fri, 01/03/2014 - 08:51 | Link to Comment tip e. canoe
tip e. canoe's picture

i caught a little snippet in the corner of my eye & ear on that very NSA decision on CNN in a hotel lobby.  i heard "9/11" at least twice if not 3 times.   hard to count as the way the newsboy emphasized it made it echo across the room.

agree with everything you say, but still believe there is a way to turn the Bernays' recipe back in and on itself.   Banzai's got the ticket, but the tactics need to be spread out with a wider net and not solely focused on an audience that already understands the real deal.

Fri, 01/03/2014 - 08:35 | Link to Comment Drifter
Drifter's picture

More like 97.9% of the 98%.

Thu, 01/02/2014 - 21:25 | Link to Comment LetThemEatRand
LetThemEatRand's picture

Said Greenspan, Bernanke and Yellen in unison:  "oops?  Suckers!"

Thu, 01/02/2014 - 21:30 | Link to Comment suteibu
suteibu's picture

400,000 + for every unborn child.  Does that take into account that only half of them will have to pay while the other half will add more to their burden?  I think the productive children are looking at a cool million at birth.

Thu, 01/02/2014 - 21:47 | Link to Comment Tulpa
Tulpa's picture

These numbers are all meaningless, since there is no way the Boomers are getting paid the amount of Soc Sec or Medicare supposedly owed to them unless it's in Monopoly money.  They'd have to tax younger workers to the point where there would be absolutely no point in working, particularly with our birthrate the lowest it's been since the Depression.

The only purpose I can see in that calculation is to show how absurd the situation's become, which it accomplishes very well.

Thu, 01/02/2014 - 21:28 | Link to Comment Musashi Miyamoto
Musashi Miyamoto's picture

Moar Chart Porn

Fri, 01/03/2014 - 08:53 | Link to Comment tip e. canoe
tip e. canoe's picture

as much as i love chart porn, this one is a bit too complex for the average Joe to wrap their noggin around.

K-I-S-S

Thu, 01/02/2014 - 21:33 | Link to Comment NoDebt
NoDebt's picture

Why do discussions involving taxes only focus on Federal Income Tax rates?  Growth of state and local taxes is where the real action is.  Off a low base, but the percentage increases are eye-watering.  Add up all the state and local taxes I pay in a year and I bet it's easily more than half as much as my big-bad Federal Income Tax tab.  Add it all up and I'm probably already paying 40% of every dollar I earn in some kind of tax.

Before we staged an overthrow of our township board of supervisors a couple years ago our township taxes had gone up 122% in 2 years.  Threw the bums out, prosecuted some of them for OBVIOUS fraud, installed a conservative board and suddenly we're pushing a SURPLUS of over half a million a year in the township (vs. a $300K deficit) with NO CUTS IN SERVICES OF ANY KIND.  Not bad, when you consider the budget is only about $2.5MM total.

Thu, 01/02/2014 - 23:54 | Link to Comment boattrash
boattrash's picture

No Debt, good point, but they're working on it. One of the ZH'r posted this link earlier. Look at the Puppetmaster's Plans

http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf

 

Fri, 01/03/2014 - 01:01 | Link to Comment Nick Jihad
Nick Jihad's picture

And why is it, that the government that does the most for me - my city and county, get the least? While the government that does nothing except fuck me over, (Capitol City) gets the most?

Fri, 01/03/2014 - 01:36 | Link to Comment ClassicalLib17
ClassicalLib17's picture

@NoDebt,  Township Board?  Might you live somewhere within the boundaries of the Peoples Republic of Illinois?  Illinois, the land of nearly 7,000 separate taxing entities.  And the most corrupt.

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