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The Real "Wealth Effect"
When the masses just won't play along and BTFATH (with only central banks buying), the real 'wealth' transfer is much more insidious (and more voting)...
H/t @Not_Jim_Cramer
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Food stamps are an opiate for the masses and a mind deadening agent.
It is not really a wealth transfer vehicle.
It is more effective as an anti revolution drug, with strong behavioral side effects.
You are so wrong about the wealth transfer part! But when you speak of the mind deadening brother, you has hits the bullseye!
"The Book of Satoshi" is now available on amazon.com! This is a must have for any real Zerohedge library!
BUY NOW!!!
http://www.amazon.com/gp/product/0996061312/ref=as_li_tl?ie=UTF8&camp=17...
You ever see what the EBT card holders are allowed to buy?!?! It's the most poisonous food and drink on the Planet! The elites LOVE the fact that more of the population will die due to 'poor diet'.
This is all going according to plan
Legalize pot and it'll be years before they figure it out
This is not the chart you are looking for. *hand wave*
Ca you use your welfare credit card to purchase pot?
I've seen a person with an EBT card buy a lot of pop at a gas station, the person goes outside and dumps it all, turns around and goes back into the gas station to redeem the cans for the 10 cents per can that Michigan mandates, and they bought cigarettes.
Why the hell can you buy pop with an EBT card in the first place? Our tax dollars at work.
Corporate welfare
Better yet: http://www.amazon.com/Ethics-Liberty-Murray-N-Rothbard/dp/0814775594/ref...
Welfare is always a triple-theft: The victims are those robbed to fund welfare, the recipients by way of stolen economic opportunities and the recipients again of their souls.
“Confucius say look deeper into the mud and see the thieves and not the receivers.”
Is gov subsidy ever justified?
What about the children living in poverty who cannot be held to blame for any dynamic that puts them there? Solution anyone?
"What about the children living in poverty who cannot be held to blame for any dynamic that puts them there? Solution anyone?"
The government causes this by way of their theft and murder and then proclaims that more theft is the answer.
"Is gov subsidy ever justified?"
The question is, always is, is theft ever justified?! Because welfare IS theft. The clear answer is no. The clearer answer by way of looking around at where the DC US occupied American country stands today is an emphatic no.
Bastiat source: http://www.econlib.org/library/Bastiat/basEss1.html
Also you left out the (Admini"strait"ers)..........Too big to audit/fail/jail........
Straight into their personal accounts.
That chart makes me hungry.
"You've made your bed, now lie in it."
That's it... How warm will you be when all you have is a Flag to wrap around your shoulders in the winter?
The rich have stocks and the poor food stamps. Who wins when millions barely get by and the others buy new cars.
The bankers?
Tuche
New cars? How about multiple mega yachts, multiple mansions, jets, etc. New cars is a fucking joke.
The food stamp people can buy the used cars and upgrade their homes.
Used leather seats are still leather seats.
Gotta look at the bright side.
damn...that's some bottle rocket skim growth for the JP Morgue !
Which definition of wealth are you using? If you need food stamps, you are not going to be spending much time at the yacht club.
There's gotta be a number here.
"Everyone gets a hundred bucks" or something.
All the Muslims are on the payroll...it's time for all the Americans to "get that program too."
That's what happens when your CIA attacks your State Department.
"The Program just got a lot bigger."
Democracy. Freedom. AND STUFF!
Hm looks like the 1973 oil crisis started somethig nasty, but this time it will be different your fhurer promised you that. This is also the time when US firms started to go to asia to manufacture! Long live the USSA.
Now this looks like a very successful Govt. program that has gained wide acceptance with the voters.
Let's hope we have the same success with the SS disability payments.
Yes We Can.
BANKER IMMUNITY My conclusion why you pay for Bankers crimes :
I contend that Big Banks have De Facto Immunity for crimes, foreign and domestic, in exchange assisting the US Treasury enforce US Global Financial policies. The Banks can get away with murder, maybe literally, in a modern example of “Quid pro Quo”(This for That) where upper Bank personnel are safe from fines and jail time. The Bankers know they will not go to jail, or, as a worst case, the Bank will be fined, and it treated as a cost of doing business, ultimately paid for by all of us. My reading tells me that no upper level employees ever missed a bonus let alone a conviction with punishment.
I think a clear picture of the problem emerged in the UK Telegraph's article on April 16th, 2014
“US FINANCIAL SHOWDOWN WITH RUSSIA MORE DANGEROUS THAT IT LOOKS”. by Ambrose Evans-Prichard on April 16, quoted in Newsweek: “The Treasury has deputized the entire US financial system to achieve its foreign policy goals”. Based on the recent book “TREASURY's WAR” by Juan Zarate, former White House and Treasury Official, US Prosecutor, outlines the nature of the global nature of the effects of Sec 311 of the Patriot Act, designating countries, organizations and individuals as money-launders.
Thus the banks are the enforcement muscle (much like the Mob) of Treasury's overseas activities. Several White House Peer Review papers suggest that these enforcement duties should remain Treasury functions. In Treasury's desire to protect the US and extend the “Anaconda Strategy” developed by the North, while fighting the South in the Civil war, they can designate a country, bank or individual as a “Money Laundering Center”, with which everyone involved with them, upstream or down, is then declared OUTLAW, 'persona non gratis', and more radioactive than Fukishima. No one, for fear of being barred from the lucrative capital markets of New York City, will deal with them. Their lifeblood, cash flow, stops. Without JPM, BOA, CITI, Goldman, and Morgan Stanley, little money can be raised until other capital centers develop.
That was a practical reason as well as symbolic reason the “911” attackers targeted New York and the Twin Towers.
It is the beating heart of Global capital markets.
All of us know the “Systemically Important” Entities, critical to US Global Strategy. Americans and people globally, are aware of the legion of unprosecuted crimes committed by Big Banks. But when Banks break laws with impunity due to their De Facto immunity, a serious moral hazard exists. Other bank executives are emboldened to new heights of criminal activity and this creates more “unindicted co-conspirators”. I believe this is unconstitutional, bad practice, bad policy for the USA, and that it will have terrible long term consequences, already showing in the huge loss of respect for the USA's integrity and Rule of Law.
Contrast that NY Times notes that there were eight hundred forty-nine (849) convictions after the “Keating” Savings and Loan Scandal in the '90s, and but only one (1) conviction since this meltdown began in 2006, and that was an Egyptian born Credit Suisse employee. None of the so-called TBTF bank personnel were imprisoned. I don't think these banks are “Too Big To Fail,” however they are “Systemically Important” Entities. These Banks are not allowed to fail as they are the Muscle for US Global Financial Policies. US Treasury Anaconda Strategy cutting off cashflow, to entities they designate as “Primary Money Laundering Centers”, is an effective short term tactic, with serious negative long term strategic implications for the USA. De Facto immunity for Big Banks, has the current situation spinning out of control, a loose cannon on a stormy deck, injuring friend and foe. The people of the US deserve a respected Rule of Law, not one for Banks, and one for Others. Injuries by Banker Crimes are legion, from false home repossessions, to usury, to front running trades and rigging markets for their no-brainer profit trades. Do any readers NOT know someone so injured? Does anyone know anyone sent to jail for these crimes ? The very fabric of our society is being rent asunder for Banker profits.
Of course the proof that my contentions here are wrong, would be the vigorous prosecutions of those banks whose crimes have not passed the statute of limitations. The old Populist slogan addressing low corn prices was : “Raise more HELL, and less corn”; which may be metaphorically is the solution here. First it is clear the Big Banks and the Treasury that is supposed to regulate them, must be separated, and the Banks and Bankers prosecuted for their crimes including jail time. Having Treasury depend on the Banks to enforce their rules, looks unconstitutionally incestuous to me, without checks and balances. An oligarchic state is ruled by Banks and other large interests, a Republic or a Representative Democracy is not.
What happens next is critical in determining who rules. Restore Treasury enforcement of its regulations, foreign and domestic. Impose Real Regulation of the Banks and Financial Sector. Prosecute Bank Crime and adjudicate Jail Sentences upon the guilty, not just fines. The US may be feared, but not respected. That could turn to contempt and tends to weaken the US Dollar in value and in status as a Reserve Currency. Myriad challenges to the US DOLLAR as a Reserve Currency are in progress as we read this, and actually putting our Financial Sector back under the Rule of Law, may seriously retard, diffuse and deflect some of these challenges.
DENALIGUIDE, June 15, 2014 http://www.denaliguidesummit.blogspot.ca/
849 times more convictions in the S&L Crisis VS NONE now.
That is the crux of the matter.
Soon People will not stand for that.
Funny when the latest financial theft occured, WS Banksters were screaming for NYC Police to serve them as their drivers waited to take them home. They knew eventually the public would smarten up.
Maybe now is the time?
The food stamp crowd often has new cars. Nothing down, EZ qualifying no interest, low payments. Got to move those units off the lot.
Divide and concur Bitchez" divide and concur!
Frito - Lay
I live in the State of Indiana where those on food stamps are given a "Indiana Works" card that looks like a credit card. This card is to spare recipients much of the embarrassment of receiving aid or being on the dole. Many Americans are appalled at the mix of high priced and unhealthy foods our tax dollars are used to buy through this program.
People buy these foods to fulfill their "appetite", it has gone far beyond just keeping people from going hungry. It is one thing to let people starve, but how do you justify qualifying someone on government assistance to purchase items that hard working taxpayers often feel unable to afford? More on this subject in the article below.
http://brucewilds.blogspot.com/2012/01/food-stamp-reform-needed.html
Somehow or other, I've got a hankerin' for a five-pound block of American cheese. Either that, or a 24-can carton of Cheeze Whiz. I can't decide...
So if retail investors are either spooked or treading financial water, and thus selling, and its all being bought up by the central banks and the companies themselves, basically we are slowly becoming an oligopoly, right? If the trend holds long enough into the future (I know), whoever is tight with the central bank, eventually owns everything.
The lesson the liberal sheep won't face up to: centrally planned economies are easier to corrupt.
Wow. Now that is one illuminating chart.
Vote buying, anyone?
https://www.dmr.nd.gov/oilgas/stats/historicalbakkenoilstats.pdf
The WTI price is lower than the highest marginal cost of producing oil. Cue Don Meredith...turn out the lights, the party's over.
"Wealth effect" is all we got.