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Guest Post: Who Destroyed The Middle Class - Part 2

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Submitted by Jim Quinn from The Burning Platform

Who Destroyed The Middle Class - Part 2

In Part 1 of this three part series I addressed where and how the net worth of the middle class was stolen. In Part 2, I will tackle who stole your net worth and in Part 3, why they stole your net worth. Now let’s zero in on the culprits of this crime.

Dude, Who Stole My Net Worth?

“Thus far, both political parties have been remarkably clever and effective in concealing this new reality. In fact, the two parties have formed an innovative kind of cartel—an arrangement I have termed America’s political duopoly. Both parties lie about the fact that they have each sold out to the financial sector and the wealthy. So far both have largely gotten away with the lie, helped in part by the enormous amount of money now spent on deceptive, manipulative political advertising.” Charles FergusonPredator Nation

When you dig into the charts and data supplied by the Federal Reserve generated report, the data which goes back to 2001 tells a story not addressed by the deceptive, manipulative, political propaganda that passes for investigative reporting by the captured mainstream media. The chart below compares the median versus mean income growth from the last three Fed consumer surveys. Overall, it reveals a lost decade of negative income growth for the average middle class family. In the early part of the decade the average middle class family made some progress as jobs were relatively plentiful and the internet crash mostly impacted the rich, who own most of the stocks in the country. This is why the median income rose while the average income fell. The wealthy have a large impact on the average because they own the vast majority of assets in this country. The stock market debacle was unacceptable to the oligarchs and their money printing puppet Greenspan.   

 

Both the liberal and conservative wings of the ruling oligarchy were in complete agreement. A new bubble needed to be blown in order to refill the coffers of the ruling class. Paul Krugman spoke for the liberal wing:

“To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.”

Greenspan and his handpicked successor Bernanke represented the conservative wing by reducing interest rates to ridiculously low levels, failing to carry out their regulatory obligations, encouraging recklessness, and purposefully failing to acknowledge and deflate the greatest housing bubble in world history:

“American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.” Alan Greenspan – February 2004

“House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.” – Ben Bernanke – October 2005

“With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.” – Ben Bernanke – November 2005

The master plan worked like a charm from 2004 through 2007 as you can see by the tremendous surge in average income. The stock market rocketed by 75% between 2003 and 2007 and national home prices shot up by 50%. Wall Street creatively invented no doc, negative amortization, interest only, subprime mortgages and generated a frenzy of demand from anyone that could scratch an X on a loan document, just as Greenspan had demanded. Being “sophisticated” financial institutions, they were able to assemble thousands of shit loans that were certain to default into one big derivative package of shit and their captured lackeys at the “sophisticated” rating agencies stamped a AAA rating on the smelly pile of feces. Always looking out for the best interests of their clients (aka muppets), the upstanding Wall Street firms sold the derivative piles of shit to them as can’t miss investments. Wall Street profits went off the charts. Billions in bonuses flowed to the rich and powerful Wall Street titans. Mega-corporations generated record profits as consumers utilized the Fed induced tsunami of easy debt to buy BMWs, 72 inch HDTVs, home theaters, stainless steel appliances, granite counter-tops, Caribbean cruises, Jimmy Choo shoes, and Rolex watches in a mad frenzy of consumer delusion.

What you might also notice in the chart above is that median household income somehow declined during this decadent orgy of corporate fascist pleasure. How could this be? Table 2 from the Fed report makes it clear. The vast majority of households in this country generate 75% to 81% of their income from wages. Virtually none of the income generated in 85 million households (the bottom 75%) comes from interest, dividends or capital gains. You need money to make money. The top 10% only generated 46% of their income from wages. The report does not provide details on the top 1%, but wages most certainly account for less than 20% of their income. Interest, dividends and capital gains represented 22.2% of the income for the top 10%, while it represented less than 1% of income for the bottom 75%. This data is the smoking gun that proves that Federal Reserve policy and control fraud on a grand scale by the titans of Wall Street was designed and executed to benefit only the wealthy elite billionaire class and their co-conspirators. All the income gains during this time accrued to the psychopathic amoral financial oligarchy. The average family saw their real wages decline and anyone lured into the housing market during this time frame by the “sophisticated” financial experts at Citicorp, Bank of America, Wells Fargo, Merrill Lynch, Countrywide, Washington Mutual, Wachovia, Bear Stearns, Goldman Sachs, Lehman Brothers, and the other members of the Too Big To Fail criminal syndicate was set up for epic loses.       

Source of Household Income By Percentile of Net Worth  

As expected, the psychopathic banker class could not be satisfied with the results of their looting. Their gluttonous voracious greed culminated in a historic collapse of the worldwide financial system resulting in a housing implosion, stock market crash and 8 million middle class Americans losing their jobs.  The Fed report does show that average household income declined more than median household income after this historic financial oligarchy created collapse. One look at Table 6 from the Fed report will explain why. Only 15% of families own stocks and only 50% have retirement accounts. Approximately 50 million households in the country have virtually no stocks and less than 30% have retirement accounts. The top 10% wealthiest households, with a median household net worth of $1.2 million, proportionately own 3 times as much stock as the average family and 90% have retirement accounts. Therefore, the 57% crash in stocks impacted the top 10% to a greater extent, while the average family was most impacted by the 28% drop in home prices.      

 9 out of 10 Young People Don't Invest in Stocks

Despite the fact that the median net worth of the top 10% actual rose from $1.17 million in 2007 to $1.19 million in 2010 (while the bottom 80% saw their net worth decline by 36%) the losses in the stock market were intolerable to the banker predators and their captured government parasite politicians. All the “solutions” to the Wall Street induced financial debacle have been designed to benefit those who committed the crime and should have done the time. The singular design of those pulling the strings was to replenish the treasure chests on Wall Street, engineer a stock market rally to pump up the net worth and capital gain income for the 1%, and protect the vested interests of the financial elite. All the obscene criminally generated profits created during the boom were privatized into the grubby hands of the financial predators, while the subsequent gargantuan losses were socialized onto the backs of the American middle class taxpayers and future unborn generations. 

TARP was rammed through the captured Congress by the oligarchs despite a 300 to 1 opposition from the public in order to protect obscenely wealthy bankers, stockholders and bondholders. The $800 billion of debt financed political pork, disguised as stimulus, was doled out to corporate contributors, union thugs, and a myriad of other special interests. Zero interest rates are specifically geared to generate billions of risk free profits for Wall Street and to force retirees to gamble their dwindling retirement funds in the rigged stock market. Bernanke and Paulson threatened the limp wristed pocket protector CPAs at the FASB into allowing Wall Street banks to make up the value of their loan portfolios in order to mislead the public regarding their insolvency. The tripling of the Federal Reserve balance sheet from $950 billion in September 2008 to $2.9 trillion today was done to remove the toxic assets from the balance sheets of the Too Big To Fail Wall Street cabal at 100 cents on the dollar.  QE1, QE2, and Operation Twist have had the sole purpose of providing the “sophisticated” financial elite with the funds to pump into the stock market using their high frequency trading super computers.  

   

The subsequent Federal Reserve contrived 100% increase in the S&P 500 has repaired the damaged balance sheets of the moneyed interests, while the average middle class family has sunk further into debt and despair. The powerful entrenched sociopathic marauder class cares not for the average middle class American. They can barely conceal their contempt and disgust for the masses as they blatantly flaunt their hegemony and supremacy over our decrepit decaying corrupted economic system. M. Ramsey King described the disgusting display last week:

“Jamie Dimon’s appearance before the Senate Banking Committee was a sickening display that clearly demonstrated that Congress has been thoroughly corrupted by Wall Street. Instead of grilling Dimon, Senators acted like overly affectionate puppies fighting each other for an opening to smooch their master.”

The destruction of the middle class has been methodical and systematic. The top 10% of earners had a median net worth of $1.19 million, or 192 times as much as the median wealth of $6,200 of those in the bottom 20% in 2010. In 2007, the top 10% had 138 times as much wealth as the bottom 20%. In 2001, it was 106 times as much. With the continued rise in the stock market, declining real wages for the middle class, and further home price declines, the gap between the top 10% and the bottom 20% has continued to widen. The level of pain being experienced by the middle class has reached an unprecedented extreme. A few data points from David Rosenberg make that clear:

  • Forty-six million Americans (one in seven) are on food stamps.
  • One in seven is unemployed or underemployed.
  • The percentage of those out of work defined as long-term unemployed is the highest (42%) since the Great Depression.
  • 54% of college graduates younger than 25 are unemployed or underemployed.
  • 47% of Americans receive some form of government assistance.
  • Employment-to-population ratio for 25- to 54-year-olds is now 75.7%, lower than when the recession “ended” in June 2009.
  • There are 7.7 million fewer full-time workers now than before the recession, and 3.3 million more part-time workers.
  • Eight million people have left the labor force since the recession “ended” — adding those back in would put the unemployment rate at 12% instead of 8.2%.
  • The number of unemployed looking for work for at least 27 weeks jumped 310,000 in May, the sharpest increase in a year.

I would add a few more data points to David’s list of woe:

  • Over 7.5 million homes have been foreclosed upon by the Wall Street bankers since 2008.
  • The National Debt has increased by $5.7 trillion (57% increase) since September 2008, while real GDP has risen by $305 billion (2.3% increase) since the 3rd quarter of 2008.
  • Interest income paid to senior citizens and savers has declined by $400 billion (29% decline) since September of 2008 due to Ben Bernanke’s ZIRP.
  • Government transfer payments have risen by $500 billion (32% increase) since September 2008, while private industry wages have risen by $200 billion (4.7% increase).
  • The price of a gallon of gas has risen from $1.70 in December 2008 to $3.53 today.
  • Food prices have risen by 7% to 10% since late 2008, even using the falsified BLS data. A true assessment by anyone who actually goes to a grocery store (not Bernanke – his maid does the shopping) would be a 10% to 20% increase.   

The middle class has a gut feeling they are being screwed by somebody, they just can’t figure out who to blame. The ultra-wealthy elite keep up an endless cacophony of propaganda and misinformation designed to confuse an increasingly uneducated and willfully ignorant public while blurring the facts for those educated few capable of understanding the truth. They have been able to keep the masses dumbed down through government run education; distracted by sports, reality TV, Facebook, internet porn, and igadgets; lured by mass media messages of materialism; and shackled with the chains of debt used to acquire the goods sold by mega-corporations. We’ve become a society oppressed by a small faction of ultra-wealthy masters served by millions of impoverished, uneducated, sedated slaves. But the slaves are getting restless and angry. The illegally generated wealth disparity chasm is growing so large that even the ideologue talking head representatives of the elite are having difficulty spinning it. Even uneducated rubes understand when they are getting pissed on.

“Senator, don’t piss down my back and tell me it’s raining” – Fletcher – Outlaw Josey Wales

The situation is growing increasingly unstable and has left the country susceptible to an extreme outcome when this teetering tower of debt topples.             

The moneyed interests have brilliantly pitted the middle class against the lower classes through their control of the media, academia, and the political system. They have cleverly blamed the victims for their own plight. They have convinced the general public that millions have lost their homes to foreclosure because they were careless, greedy and stupid. They blame the Community Reinvestment Act. They blame others for taking on too much debt when they were the issuers of the debt. The Wall Street moneyed interests created the fraud inducing mortgage products, employed the thousands of sleazy mortgage brokers, bullied appraisers into fraudulent appraisals, paid off rating agencies, bribed the regulators, bet against the derivatives they had sold to their clients, threatened to burn down the financial system unless Congress handed them $700 billion, and paid themselves billions in bonuses for a job well done. But, according to these greedy immoral bastards, the real problem in this country is the lazy good for nothing parasites on food stamps and collecting unemployment, who need to stop complaining and pick themselves up by their bootstraps and get a damn job. It’s a storyline used against Occupy Wall Street and anyone who questions their right to plunder what is left on the carcass of America. The vilest fraud in the history of man was perpetrated by these evil men and not one executive of these firms has been prosecuted. Obama, the champion of the little people, has proven to be nothing but a figurehead for the powers that be. Proof that the Wall Street syndicate is winning the war couldn’t be any clearer than the fact that the top six criminal banks now have 40% more of the nation’s assets in their vaults than they did before they burned down the economy.

 

The demonization of the victims continues, while the perpetrators prosper. The sociopaths appear to be winning; just as they seemed to be winning in the later stages of the Roman Empire.

   

“And we often fall into this bias on the prompting of con men and sociopaths of the predator class who use it to justify their own criminal actions and personal injustice. They are not burdened with empathy for their victims, and even delight in their misfortune. But they must find ways to make their actions more acceptable to society as a whole that normally does have such concerns for equity and justice.”Jesse

 

“Are we like late Rome, infatuated with past glories, ruled by a complacent, greedy elite, and hopelessly powerless to respond to changing conditions?” –  Camille Paglia

I think you know the answer to this question.

If you missed the first part of this series, CLICK HERE to read it.

 


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Thu, 06/21/2012 - 09:24 | Link to Comment SilverTree
SilverTree's picture

Fiat FRNs.

Thu, 06/21/2012 - 09:33 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

The sluggish pace of the economic recovery in America is absolutely unacceptable, and it's time to take action. Join the Occupy Wall Street movement by supporting the following policy initiatives: 

 

  1. Ban non-governmental credit ratings
  2. Tax the rich 90% to fund government programs to help the poor
  3. End wage-disparity by tripling the minimum wage
  4. Provide guaranteed government jobs for all unemployed Americans
  5. End "free trade" once and for all by making outsourcing illegal and banning imported goods

These are some simple, practical solutions to our problems, grounded in reason and evidence, which are GUARENTEED to lead to a fair, peaceful and prosperous future. The occupy wall street movement has done its research, and they are 100% confident that these solutions will produce the desired effect. There is simply no room for disagreement, so we will not be answering nit-picking questions from libertarians and other right-wing interests.

Thu, 06/21/2012 - 09:36 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Can't I just bribe my Congress Critter to get er done?

Thu, 06/21/2012 - 09:37 | Link to Comment Badabing
Badabing's picture

Did we forget? I remember that it was a “bank” that was able to replace the gold and silver and make it law that we had to use FIAT  FRNs to pay our income tax.  And it’s a bank that wants us to pay the debt that was created out of thin air. And it’s a fucking bank that has bought up all the politicians and keep them in their pockets like so many nickels and dimes. And it’s a bank that’s responsible for inflation and stealing the working mans savings. And it’s a fucking bank that caused my mom to stop raising me and my siblings and go out and get a job to make ends meet. And its fucking bank that changed the constitution and is breaking the law as I type.

FUCKING BANK!!!!!!

Never forget!

Thu, 06/21/2012 - 09:51 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Exactly.  The guilotine does wonders for market confidence.

A monetary system will reamin stable only so long as there are real consequences for bad behavior at all levels.  Funny how none of our "representatives" address the issue of restoring the rule of laws and contracts.

The criminals are in charge, in order to fix the system, they would have to indict themselves.  Prepare, chance will favor the prepared mind, always has.

Thu, 06/21/2012 - 10:08 | Link to Comment tocointhephrase
tocointhephrase's picture

MDB you are a fake, your twisted mind is poisen and your drivel should be spewed in the gutter!

Thu, 06/21/2012 - 11:44 | Link to Comment I am more equal...
I am more equal than others's picture

The middle class is only a recent occurrence in history and started with the rise of the mercantile class.  Reversion to the mean is a bitch.  That rubber band has been stretched far and is about to break.  "Oh the humanity....." This zeppelin is lead and the crash will be spectacular.  Willingly accept your peasant status or die mother f*%@&r!

 

Thu, 06/21/2012 - 14:39 | Link to Comment Iconoclast
Iconoclast's picture

Mean reversion for the muddled classes, that's gonna hurt..

Thu, 06/21/2012 - 10:17 | Link to Comment CommunityStandard
CommunityStandard's picture

China executes their banksters.  Clearly we should be working to adopt the Chinese system.

Thu, 06/21/2012 - 11:04 | Link to Comment WTFx10
WTFx10's picture

I would rather we took all of their assets and sent them out to work for 10 to 12 bucks an hour and to pay 30% of their healthcare for the rest of their fucking useless lives.  Let them live off those fucking slave wages. Death is too easy for these DOG COCKSUCKING shitbags of humanity.  Hard work will either kill them or drive them to despair, both scenarios I like.

Thu, 06/21/2012 - 19:20 | Link to Comment Aloha
Aloha's picture

First time I've ever commented here. Best Fucking comment I've ever seen. Think I'm going to like it here.

Thu, 06/21/2012 - 12:20 | Link to Comment DeadFinks
DeadFinks's picture

It couldn't have been done without the reins of political power firmly in its grasp.  It takes two to tango and the politicians are equally responsible.

Thu, 06/21/2012 - 12:01 | Link to Comment arby63
arby63's picture

And yet we walk around with our "directly deposited" debit cards....allowing the banks complete control and never even realizing the theft taking place on a monthly basis...

Thu, 06/21/2012 - 09:49 | Link to Comment Barking Spaniel
Barking Spaniel's picture

Yes, great ideas.  Unfortuntately,they're superficial and don't get to the real issues involved.

Thu, 06/21/2012 - 10:09 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

This is just an initial list. We have other ideas too.

  1. Eliminate college tuition fees, making a college education free for all Americans
  2. Increase the mandatory time required in school to 25 years, to improve the average level of education and help the economy
  3. Increase funding for education, and allow teachers' unions to have more control over how the money is spent
  4. Give unions the right to legally determine their own wages
  5. If you earn over $500,000, then the excess should be taxed at 95% to help the social good

The revolution is here, and nobody can stop us. We're smart, young and open-minded, and bursting with groundbreaking ideas that have never been tried before. If you can't feel the buzz in the air, then you must be dead. Get with the progressive revolution and get on the right side of history.

Thu, 06/21/2012 - 10:25 | Link to Comment Barking Spaniel
Barking Spaniel's picture

Progressive? As in progressively eroding indivudual liberties?

Thu, 06/21/2012 - 10:27 | Link to Comment Diplodicus Rex
Diplodicus Rex's picture

MDB, you are on fire. You even outdo yourself. Bravo !!

Thu, 06/21/2012 - 10:28 | Link to Comment azzhatter
azzhatter's picture

Million Dollar Boner needs to work on his trolling skills

Thu, 06/21/2012 - 11:01 | Link to Comment mtomato2
mtomato2's picture

...I think that The Boner is deliberately letting down a bit of his guard...  Perhaps he/she was afraid that he sounded TOO serious in his posting history, so he felt that maybe it was necessary to really pull out a BIG one to let his faithful minions know, conclusively, that he is not a troll, but an ultra-Libertarian using absurdity to show the absurd.

I think that's it.

 

 

Thu, 06/21/2012 - 11:10 | Link to Comment Harbanger
Harbanger's picture

I think you're right.

Thu, 06/21/2012 - 11:12 | Link to Comment Uncle Remus
Uncle Remus's picture

Go ahead, make my day.

Thu, 06/21/2012 - 09:59 | Link to Comment falak pema
falak pema's picture

lol, FRançois Hollande would make you a "chevalier de la Legion d'honneur", instantly. At last, an american who understands "ze French cassoulet!" 

Thu, 06/21/2012 - 10:00 | Link to Comment WTFx10
WTFx10's picture

Or just declare War on the Central Bankers? A surprise blitz attack on all Rothschild owned Banks, Surrender to face criminal charges or die. They control it all but where is their red shield military to protect it all? Fuck hundreds of thousands will die countries will be up ended or cease to exist but it will sure beat having a ww3 to keep the con going. Fuck man it is only money they created. Take back the assets they conned and stole the world out of and divvy it up among the Nations of the planet. All debt is gone POOF! Global commerce will not end just the illegal control of it. Why the fuck cant the Nations of the world wipe out this cancer and come up with something better. Usa, largest military on the planet and we take orders from a bunch of fuckin never worked a day in their life GANGSTERS because stupid fucks gave them the monopoly of money creation. Heres an idea TAKE IT BACK if the Rothchilds can defend what they have stolen then so be it but just handing it to them WTF?

 

Thu, 06/21/2012 - 10:08 | Link to Comment Lee Bertin
Lee Bertin's picture

Your reservation at Fema camp No: 11325451 i booked.

Thu, 06/21/2012 - 10:41 | Link to Comment WTFx10
WTFx10's picture

You read all these quotes from the past from US presidents and European politicians. They say the same thing secret moneyed powers control the planet and they know who those powers are.(Rothschild Banking) The POTUS is supposedly the commander and chief of our CIVILIAN ARMY. THE LARGEST fighting force on the planet. WHAT THE FUCK ARE THEY SCARED OF?  Bankers with paper money? We know what they keep telling us we should be scared of well fuck you. We can't change the system cause the world will end ,FUCK YOU your control of the world will end that's all.

Who is protecting this private corporation? Is the whole US government FBI,CIA,NSA been sold out to these gangsters? Is there no one left to challenge this coup? Took over the USA, deemed our most sacred documents obsolete and pass laws to supersede them while they steal more without a shot being fired.

It is quite a shock that after 54 yrs I find that the country I live in has been feeding me nothing but lies to keep the CON going. Every fucking thing from that stupid pledge of allegiance in grade school to all the other Bullshit they feed us will make me a proud American so I may lay down my life to protect her FUCK YOU. It is all BULLSHIT. This is not the land of the free home of the brave it is a fucking business run by terrorist bankers for their benefit. "We the people" are their commodity to use and abuse at their command. America is nothing but a 235 yr old  lie. We were a colony of England and now we are a colony of The House Rothschild. Disgusting.

Thu, 06/21/2012 - 11:49 | Link to Comment WhiskeyTangoFoxtrot
WhiskeyTangoFoxtrot's picture

That's about it, brother. Soon, enough people will wake up and drastic action will be taken. In the meantime, stock up on the essential metals: brass, lead, steel, gold, and silver.

Thu, 06/21/2012 - 14:28 | Link to Comment WTFx10
WTFx10's picture

Krugman was hoping for an Alien invasion so we can have this masseffect war because in their fucked up reality (which also happens to be ours) war is good. That way maybe the planet will get together and borrow monies from the owners so we can fight the Aliens together and Rothschild makes money on it. Looks better than us killing each other for their profit.

 So why don't they (they meaning anyone in our useless government that still cares what happens to humanity) pass an Act to declare the Bankers Aliens. Law doesn't have to make sense most laws do not case in point, Patriot Act: "the hate us for our freedoms" so we knowing whats best for us will take away your freedoms.

We would not have to borrow the money from them to destroy them it is just a matter of using what we have but it will take the element of surprise.  As I am still left to wondering where their army, navy, and air force is? Israel?  They would have to fight a lot of countries on their own. If they throw some nukes at us, we have more. Actually if they use nukes on other countries over the world joining together to breaking up their crime syndicate then they are fucking aliens.

Thu, 06/21/2012 - 13:10 | Link to Comment Karl von Bahnhof
Karl von Bahnhof's picture

They didnt hijacked it. They founded it. So sad...

Thu, 06/21/2012 - 14:45 | Link to Comment Iconoclast
Iconoclast's picture

That's a great fukcin post, issue for me with the USA is where is your version of Syriza , where is your version of the german's pirate party? Htf has the USA only got two parties? Fix that first and there's your velvet revolution..

Thu, 06/21/2012 - 15:10 | Link to Comment WTFx10
WTFx10's picture

We are scared of the cops, we are scared of prison, this is a police state as we have the most incarcerated population on the planet. Money is our GOD and it is the only thing in this country that buys freedom and liberty. Whatever my federal government says about America is a Fuckin lie. There has not been liberty or freedom here since the first revolution. There probably won't be again until the second if it ever takes place?

Thu, 06/21/2012 - 12:40 | Link to Comment IBelieveInMagic
IBelieveInMagic's picture

Mommy, he made me do it. Grow up man -- look inside yourself.

Thu, 06/21/2012 - 10:15 | Link to Comment kralizec
kralizec's picture

Pure Obamunist insanity.

Thu, 06/21/2012 - 11:03 | Link to Comment batterycharged
batterycharged's picture

The joke about the Liberterians is that they think letting the wealthy do whatever they want without regulation nor taxes will fix the current system....of letting the wealthy control the gov't, their taxes and regulations.

I call the current system the tyranny of two parties. And the reason it has succeeded is for one, they've given people the misguided notion that they are increasing their net worth. I mean, 90% of the people I know are underwater with their mortgage, some as much as 50%.  And yet they would tell you that they are doing well.

For two, the money in this country can control two parties while simultaneously giving the populus the boxed-in notion that they have no other options than the two parties. It's brilliant. All the things you hate about Obama are 10x reflected in Romney. We're supposedly in a democracy and yet people feel powerless.

Great job by the "investor class".

You mention Rome, and that is exactly what will turn things around; a total collapse. All the valued regulations and social policies we have now were borne out of the great depression. It will sadly take another depression to pry the grips of power away from the wealthy.

Thu, 06/21/2012 - 13:49 | Link to Comment forexskin
forexskin's picture

you've got it 180 degrees wrong about Libertarians, brother.

not much to disagree with for the rest of what you say, except we hate obomney about equally.

Thu, 06/21/2012 - 14:04 | Link to Comment F. Bastiat
F. Bastiat's picture

You need to do some lab work; recommend gathering up all "occupiers" and heading to Pyongyang to experiment with your ideas.  If you are successful, then you can return and brag about your successful utopia.

Thu, 06/21/2012 - 11:42 | Link to Comment NewAmericaNow
NewAmericaNow's picture

Wow MDB you haven't got a clue what is needed in this country. What you are advocating is more government? Ban private citizens from determination of value? Advocating the use of force to steal from some for the benefit of others? Force free business owning people using governmnet authority to supersede two individuals to determine a services worth? You do realize the governmnet gets it's money from the people right? That's like an unemployed father of six employing everyone in his home and collecting taxes from them to pay for their salaries. How long do you think that's going to work? IT MAKES NO SENSE!!! What you don't seem to understand is this. - You are empowering governmnet to do a job that people should be doing for themselves. In order to get the job done you need to allow power over people..this is crucial. Governmnet runs on money and votes and power corrupts but absolute power corrupts absolutely. People with money always want to purchase control for advantage. Rich people pay money to the governmnet to allow special advantage over those governmnet controls. The envitable outcome is the rich get laws made to give them advatage and the poor lose while governmnet gains more money and control using the fallacy that governmnet is there to help. Now when you go to your Occupy Wall Street encampment to complain that governmnet that you continue to give control to uses that muscle to beat, peppers spray and taze you to go home and shut up and tells you to do as they say because they are the governmnet and know what is better for you than you do. DO YOU GET THE F"IN POINT SONNY. I think you know better what is right for you than the governmnet and so it should apply to all without force or coersion. If your going to protest get a clue.

Thu, 06/21/2012 - 11:53 | Link to Comment WhiskeyTangoFoxtrot
WhiskeyTangoFoxtrot's picture

WHO doesn't get it? Almost two years on ZH and you're not wise to MDB? I won't spoil it for you. It will be much sweeter when you discover it on your own.

Thu, 06/21/2012 - 11:47 | Link to Comment ATM
ATM's picture

Yes the cure for the centrally planned economy is more central planning. Thanks alot fuckhead.

Thu, 06/21/2012 - 12:43 | Link to Comment ebworthen
ebworthen's picture

MillionDollarBonus,

 

Sarcasm rating:  5/10

Depth of thought:  4/10

Left/Right matters delusion rating:  10/10

Thu, 06/21/2012 - 12:17 | Link to Comment bankruptcylawyer
bankruptcylawyer's picture

you see, you are as usual making fun of things, but this is not exactly something easily made fun of. 

you are pointing out the obvious as anyone with a brain sees the occupy movement for what it is in that sense. I've lived with occupiers for 3 months, and after having spent months visiting liberty square , living with them made their caricatured positions even clearer. 

It used to be a long time ago "youth' were the hope. I think this was always a lie. the 'youth' are never the hope for change. this was always bullshit. Free MEN who are able and willing to produce and also to fight were always the hope. but we live now in a post industrial society with lots of surveillance and weapons. THe hope for domestic insurrection is beyond likely. More likely we see world war III. 

 

The occupiers are not going to 'unite' with the 'libertarians' . They are most a newer dumber class of young people who are addicted to ideas of socialism and some of them, usually the poorer contingent, will spout on about 'anarchy'. 

the reality here is that occupy is over. the ones that 'remain' are the ones that are now pushing the democractic ticket. the ones who get money, are the ones who remain. they talk about getting money out of politics---and they are money in politics. the same basically goes for the 'tea party' . basically, any movement that was given press by the news became co-opted easily by offering money to the self righetous potentials who now can be considered 'leaders' in their respective movements but who more or less function like subsidiaries of republicrats. 

 

the real solution is poverty. americans need much much more poverty . this is what will be good for them. A LOT more poverty. The only thing that trumps fear is hunger. 

 

 

Thu, 06/21/2012 - 09:52 | Link to Comment battle axe
battle axe's picture

Who destroyed the middle class? Apathy and sheep.

Thu, 06/21/2012 - 09:25 | Link to Comment Badabing
Badabing's picture

the FED

Thu, 06/21/2012 - 09:26 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Looks like today might be the day I close out all my trading accounts.

Thu, 06/21/2012 - 12:03 | Link to Comment Carl Spackler
Carl Spackler's picture

I would normally say that you "just showed us your cards" by indicating the desire to close your trading accounts as such information implies an inherently long bias.

However, in this day and age of the absence of market-driven economies and extreme central bank manipulation, I too may want to stop trading as extreme currency manipulation and government inervention can slaughter any directional bets (i.e., long or short) I may look to make.

Thu, 06/21/2012 - 09:29 | Link to Comment F. Bastiat
F. Bastiat's picture

Big government, TV, and laziness are each partly to blame.

Thu, 06/21/2012 - 10:47 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

The victims are largely to blame.  The so-called "elite" may be propping up bad choices, but those aren't the only choices that have been available. 

The "middle class" is a false construct, and those who perpetuate it use it as a buttress for casting blame. 

Thu, 06/21/2012 - 10:56 | Link to Comment LawsofPhysics
LawsofPhysics's picture

And when the "good" choices are outlawed?  You ignore a system with laws that reward bad behavior and punish good behavior.

Thu, 06/21/2012 - 11:06 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Did you double up on your conspiracy pills, today, LOP?  There's no law that forced folks to buy things they couldn't afford.  There's no law that forced folks to sign up for credit cards they wouldn't pay off.  There's no law that forced people to invest in a $200,000 degree in basket-weaving.

Yes, there is a system that steers the sheep into the slaughter pens, and yes, there are unconscionable people in the world who maddeningly skim off the top.  Notwithstanding those things, the so-called "middle class" has been its own biggest enemy.

Thu, 06/21/2012 - 11:10 | Link to Comment F. Bastiat
F. Bastiat's picture

Not true.  Here are some legal, lawful steps each of us can take:

1. Eliminate cable service, cut off TV
2. Ditch some dollars for a bit of gold and silver
3. Eliminate personal debt; use cash and barter only
4. Read "The Road to Serfdom"
5. Join your local Tea Party

Thu, 06/21/2012 - 15:58 | Link to Comment waterhorse
waterhorse's picture

The first four choices are palatable. 

Thu, 06/21/2012 - 16:21 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Join tea party and vote for mittens?

Thu, 06/21/2012 - 11:08 | Link to Comment F. Bastiat
F. Bastiat's picture

Clearly, success or failure is the result of decision-making over time.  Good decisions, over time, include cutting off TV, improving math skills, avoiding drug and alcohol abuse, and maximizing prudence, temperance, fortitude, and justice. 

In other words, "success" starts, or ends, with each of us.  Until one realizes that simple fact, one will continue to make bad decisions and continue to fail.

 

Thu, 06/21/2012 - 12:59 | Link to Comment IBelieveInMagic
IBelieveInMagic's picture

Get real- that's too hard. Easier to blame others.

Thu, 06/21/2012 - 09:31 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"The demonization of the victims continues, while the perpetrators prosper."

While I whole heartedly agree with the above statement, we DO seem to help them along by acting like the poor put-upon victim or howling in righteous indignation that someone (meaning anyone but me) needs to DO something about this NOW.

Where does our responsibility for what is going on begin and end? I submit that we are not the helpless victims we portray ourselves to be.

Thu, 06/21/2012 - 09:52 | Link to Comment malikai
malikai's picture

Willing participants, all sharing a role and responsibility in where we find ourselves today. Hence, why my ability to sympathize with people's plight these days is in terminal decline.

Thu, 06/21/2012 - 10:09 | Link to Comment GCT
GCT's picture

Cognitive your making too much sense.  Take responsibility for our own actions went out the window decades ago. 

Thu, 06/21/2012 - 10:09 | Link to Comment MachoMan
MachoMan's picture

We aren't...  we ALWAYS hold all the cards.  The difference is the mechanisms of control are getting more and more sophisticated...  our slumber longer and longer... 

Although they are quite intricate, the mechanisms of control are not out of the realm of contemplation nor understanding of J6P, despite what contemptuous view of humans many on this board have.  The instant J6P figured out the banks couldn't push his foreclosure through, he quit paying the note.  I'll posit that our idiocy is born of convenience...  and in a world that is vastly less forgiving, J6P will miraculously become more sophisticated.  The simple fact is that the transition of incentive to be sophisticated hasn't happened yet...  and I'm not sure it will until the ninny is removed from the teet.  Until the mob's (J6P's) tribute checks bounce.

The internet and recordability of information ensures that when J6P rises from his slumber, he's not going to be a happy camper...  too many folks screaming the truth from the mountaintops...  too much of it is easily accessible...  every day the administration and status quo loses credibility.  It's just a matter of time.

Of course, this presumes that there is some desire among the general population for autonomy...  at some point I'm not sure it won't be gone...  at least in any real sense of the word.  Call me a dreamer, but I think it's so fundamentally human that it can only be suppressed and not eliminated.

Thu, 06/21/2012 - 11:04 | Link to Comment mtomato2
mtomato2's picture

CD Sez:

 

I submit that we are not the helpless victims we portray ourselves to be.

 

I Sez:

 

I'm not.  But WE are...

Thu, 06/21/2012 - 11:17 | Link to Comment mayhem_korner
mayhem_korner's picture

we DO seem to help them along by acting like the poor put-upon victim or howling in righteous indignation

 

Also, "we" tend to envy those who "we" blame as being the perpetrators of "our" condition.  The elite is to be demonized because the occupy the spaces on the board we wish to occupy. 

As long as the discussion is a comparative, there will always be spots for victims and persecutors, but little room for solutions that actually lay outside of that false construct.

"We have so many people who can't see a fat man standing beside a thin one without coming to the conclusion that the fat man got that way by taking advantage of the thin one!" (Ronald Reagan)

Thu, 06/21/2012 - 13:06 | Link to Comment Gringo Viejo
Gringo Viejo's picture

I'm a rube and I approve of this message.

Thu, 06/21/2012 - 09:31 | Link to Comment reader2010
reader2010's picture

They destroyed themselves by taking the lies told by MSM for granted.

Thu, 06/21/2012 - 09:55 | Link to Comment Marley
Marley's picture

Cool, have fun storming the castle.

"Thousands mark Summer Solstice"

What can I do today?

Make a difference . . . So go forth and set up a worm-farm outside your backdoor. Compost your kitchen scraps. Create a small vegetable garden to supplement your needs and share with others. Reassess your energy consumption and find ways to make a difference. -  The Hamilton Permaculture Trust

Convert your backyard pool into an aquaculture food source.

Remove your "savings" or any accounts from the big three banks.

Avoid the military, don't support the Military Industrial Complex with your skills and trade.

Get off the grid......like you've a choice.

Don't be a tool.

Thu, 06/21/2012 - 09:33 | Link to Comment LawsofPhysics
LawsofPhysics's picture

End the Fed, restore the rule of law.  This will be the end game anyway, so why not get started sooner rather than later.  Just think of all that interest from the taxpayer flowing into the pockets of a select unknown few.  Just what is the interest on all that debt up to now?  Where is all that money going?  If the Fed isn't doing anything illegal or unethical, then why won't they let us audit their books and come out into the light?

Thu, 06/21/2012 - 09:57 | Link to Comment post turtle saver
post turtle saver's picture

My name is Post Turtle Saver and I approve this message.

Thu, 06/21/2012 - 10:17 | Link to Comment Paul Atreides
Paul Atreides's picture

I agree with you 100% and your comments are always spot on LoP but us Zhers posting comments on a blog isn't going to achieve those goals. We need to get out into the community and share this information with the unawakened, find like minded people, organize into grassroots movements to protest and promote civil disobedience.

Tyler puts out some great articles and I thoroughly enjoy the commentary here but I have been looking at this from a different psychological perspective as of late. More and more I get the feeling that when I read an article and post a comment it is merely a pressure release valve or a vent. Nothing changes, nothing gets done and we keep on living the groundhog day.

The time to act is now.

Thu, 06/21/2012 - 10:33 | Link to Comment LawsofPhysics
LawsofPhysics's picture

And you know of my actions in my community how again?

Thu, 06/21/2012 - 11:18 | Link to Comment Paul Atreides
Paul Atreides's picture

My comment was placed in support of your original comment to encourage more readers to stand up and act instead of reading ZH all day. I was in no way attacking you, your comment or what you do personally. I agree with you and we are on the same side, I was quite transparent in that regard..why are you all pissy pants with me?

Thu, 06/21/2012 - 10:56 | Link to Comment Diplodicus Rex
Diplodicus Rex's picture

Paul,

I've tried. I started in 2007 on what I considered "low hanging fruit" ie family members and colleagues of a roughly similar level of intellect. I explained the basis of the monetary system. I showed them the maths. I sent them links to ZH and elsewhere. I showed them gold and silver coins to dispel the fear of swapping fiat for them. I pointed out the continuous stream of lies and propaganda pouring out from Pravda (The BBC in the UK).  I spoiled a number of dinner parties and reduced considerably the number to which I was invited.

All to no avail.

The typical responses fall into the following broad categories:

1. You are mad, dangerous and I don't want to be associated with you.

2. Whilst I know you well and would normally trust your judgement I can't figure out if you're lying to me or if you've had a bump on the head.

3. I know you well enough to know that if you say you've researched the subject and this is how it works then I believe you. However, on the basis that I, as a single person, can do nothing about it, I am going to take the blue pill and deal with the consequences when it happens.

The majority of people I meet fall into category 1. A smaller number fall into category 2 but, for me, the most astounding group is the last. Many friends and colleagues of reasonably high intellect have just been told that the reason the tide has suddenly gone out is not because someone wanted to give them an easy fishing expedition but that it is the prelude to a tsunami and they'd better get off the beach. And the response? Ok I believe you but nothing I can do will stop the tsunami. So what I'm going to do is stay on the beach with my family and watch the tsunami coming in from the sea. When I see it coming up the beach I'll then figure out what I'm going to do about it. Utterly, utterly unbelievable. That's from, arguably, the 'top' 7%. You couldn't make it up.

In not one single case did anyone say "Wow. I never knew that. How interesting. I'm going  to do some research and if I find out that what you are saying is true then I too will prepare for my family and myself and spread the word to the other people I know.". None. Nada, Zip, Not one.

In all of that time I met only one fellow human being whom had taken the time to do his own research on the subject and had come to the same conclusion. He knew some of the bigger picture but not much. I filled out some of his blanks and he just stared open mouthed. Be sure he will be taking steps to protect himself and his family.

In the early part of 2008 I was buoyed by my knew found knoledge and set about spreading it for the benefit of my fellow humans. After a year I had given up. They simply did not want to know. They were too busy eating pizza and watching Strictly Come Dancing. I even tried sarcasm and was in some cases downright insulting. Nothing. So I gave up. I now only look out for those nearest and dearest. The rest can burn as far as I'm concerned. They had their chance and blew it.

Thu, 06/21/2012 - 11:36 | Link to Comment Paul Atreides
Paul Atreides's picture

Some people are not ready to wake up and it is not your job to wake them all up. I get the same shit from most of my friends and family, believe me I know how you feel. Seek those that are all ready awake, join the Libertarian movement, join your local occupy movement.

I am a supporting member and IT consultant for both my local Occupy group and Fair Vote Canada and I can tell you that everyone in those groups is wide awake. No they are not a bunch of dirty hippies we have doctors, lawyers, business professionals, students, teachers, retirees...the list goes on. We have all ready made headroads with the town council on matters through Occupy and we are planning a massive Fair Vote Campaign for Canada Day July 1st.

Grassroots activism works, ignore what the media or your family say, it is the only thing we have left short of armed revolution. Don't give up!

Thu, 06/21/2012 - 11:23 | Link to Comment Whoa Dammit
Whoa Dammit's picture

I came to the same conclusion during the housing bubble. When it showed signs of being about to pop, I told a big local builder to watch out. He did some research with his bankers, then a few days later told me I didn't know what I was talking about. He is now bankrupt.

I also told a good friend who made her money on small scale house flipping that she could get stuck holding the bag, and that a lot of houses were about to be foreclosed on. She and her SO said "They (the government) will never let that happen," She and her SO are now living in a double wide instead of the $600K house they were in.

People just don't beleive anything bad can happen to them until it does.

Thu, 06/21/2012 - 11:32 | Link to Comment Paul Atreides
Paul Atreides's picture

Reach out to those people now that they are awake and get busy.

Thu, 06/21/2012 - 12:26 | Link to Comment bankruptcylawyer
bankruptcylawyer's picture

Social Stability i always a confidence game. what if the social stability lasts another 20 years before it all collapses. In that case, you will spend 20 years living in a cave. but that is fine with you. You see, people make choices and live with them. 

One of your choices is to allow other people to live in their fanatasy for as long as they'd like, or you can chooose to be angry about it. It's not fun being alone though. 

Your comments are akin to discussions I've had about Jews in pre war Europe and even during the war who had a choice to leave when they saw things getting worse. Christal-Nacht happened LONG before , YEARS before world war ii. and even then, when businesses were being torched, not everyone left. Not everyone has an easy choice to 'leave' or 'change' in any radical manner, particularly when they have kids/family to support. 

people can only move so much. Most city dwellers could not learn how to be nomads even if their survival depedended on it---so many take their chances. this is just how it is.

 

 

Thu, 06/21/2012 - 16:49 | Link to Comment Iconoclast
Iconoclast's picture

Good points well made, many have been seduced by trinkets and baubles over the past decade, they desperately want to maintain their status anxiety quo at all cost, they still believe that the 'clever people' will fix it 'cos they have their best interests at heart..fucktards..

Thu, 06/21/2012 - 11:37 | Link to Comment Lednbrass
Lednbrass's picture

Good luck on the sharing part. The vast majority of people will treat you like you are completely crazy and not appreciate your views at all, no matter what size anvil of facts and statistics you drop on their pointed little heads.

They dont want to know, they dont want to care. They want to pop another soma, watch the distractions on TV, and avoid anything unpleasant that suggests their dream world cant go on forever under the kindly supervision of Big Brother.  The mere thought of its end angers many of them against anyone even daring to suggest it and until it comes crashing down around their ears there will be no mass realization of the situation.

 

Thu, 06/21/2012 - 12:04 | Link to Comment Paul Atreides
Paul Atreides's picture

Ok so I step back and look at my comments encouraging people to act, to get involved to fight against the financial tyranny. Then I look at the responses all of which are negative and disuade people from trying to do anything, sit back and let it happen. Not one single supportive let's make a difference comment, or I'm with you comment. It's sad really for such a intelligent group of people to be completely lacking in fortitude, honor and the willingness to make a difference.

 

Thu, 06/21/2012 - 12:14 | Link to Comment WhiskeyTangoFoxtrot
WhiskeyTangoFoxtrot's picture

until it comes crashing down around their ears there will be no mass realization of the situation.

So, the real question is: will Obama or Romney bring this about sooner?

That creates a bit of a dilemma in light of Brandon Smith's recent "Lesser of Two Evils" article which appeared on ZH. Sure, a vote for either candidate can be seen as a vote for more evil, but it could also serve a practical purpose of facilitating the coming "correction." For example, if Romney gets elected, presumably all of the democrats who have sat idly by while Obama ignores the Constitution will once again be up in arms like they were during the Bush years. And all the politically asleep people who blindly vote for Obama because "that's what good young/black/open-minded/progressive/whathaveyou people do" will finally snap out of their trance and get mad. Even if it's for no other reason than a republican is doing the same shit Obama did, at least they will be mad.

That said, I'm still probably voting Johnson or Paul, or just abstaining.

 

Thu, 06/21/2012 - 13:40 | Link to Comment CaptainObvious
CaptainObvious's picture

+1 Exactly.  The only time they will heed your words is post-collapse, when they remember what you told them and how to prepare for it with bitterness.  This will be about the point they show up on your doorstep looking for handouts.

I tried three years ago to wake up my sheep family members.  They are still happily charging up a storm, buying new cars (on financing, but of course), wearing big label clothing, buying iGadgets.  When they show up on my doorstep, the only thing they're getting is a big "I told you so".  My compassion at that point will be limited only to my immediate family, who are all awake and helping me to stack.

How did that grasshopper fair at the end of the story?  Oh yeah, right, he went begging to the ants, who told him to piss off.

Thu, 06/21/2012 - 10:16 | Link to Comment MachoMan
MachoMan's picture

end the fed, check

restore the rule of law, nein...  we talked about that yesterday.

I think the more accurate statement is to implement and enforce a law that is more fundamentally even handed across the socioeconomic spectrum, with appropriate checks and balances, and properly incentivized governmental actors (which is still incredibly vague, but less so than "restoring the rule of law").  Of course, I'm not sure humans are capable of this...  or, if so, not for any reasonable period of time...  but, I digress.

Thu, 06/21/2012 - 09:37 | Link to Comment CoolBeans
CoolBeans's picture

Staggering numbers.

Agreed on the bs numbers at the grocery store - I don't know how most families are managing.  We're okay but I still sweat the numbers as I shop for our large family (+ storage in the event of an emergency).

Thu, 06/21/2012 - 09:42 | Link to Comment Flakmeister
Flakmeister's picture

The act of theft was a process, not an event... 

You can start looking for the culprits in the 1980's, where the seeds of greed driven libertarianism were sown and nutured...

The ability to substitute propaganda for fact, which Goebbels would have been most impressed by, came in 1987 with the elimination of the Fairness Doctrine...

Thu, 06/21/2012 - 09:43 | Link to Comment malikai
malikai's picture

1913. Not sure what the statement regarding greed driven libertarianism means. I can only assume you mean LINOs, like Murdoch.

Thu, 06/21/2012 - 09:50 | Link to Comment Flakmeister
Flakmeister's picture

The peak of the middle class, as so elegantly put by Hunter S. Thompson was the late 60's, (recall his comments about the tide line in F+L in LV) the first oil shocks and Viet Nam started the process...

Quit fixating on 1913,,,, and while Murdoch is a despicable prick, I think the Koch Bros. are a better target...

Your brand of libertarianism shows a naivety about the human condition on par with Marx vis a vis communism....

Thu, 06/21/2012 - 09:57 | Link to Comment malikai
malikai's picture

What is my brand of libertarianism? 1913 is very important. We cannot ignore the reality that the collapsing system we find ourselves in today was in fact imposed upon us on that year. Regardless of how great things were in the 60s, it doesn't change the fact that the seeds of our destruction were sewn long before. 

Also, great quote. I agree in principle, but as that was well before my time, I cannot realize that knowledge.

Thu, 06/21/2012 - 10:12 | Link to Comment Flakmeister
Flakmeister's picture

I have heard you parrot your mindless horseshit and narrow worldview here many times...

The Fed dropped the ball in the 1980;s when an Ayn Rand disciple decided that ignoring 5000 years of history of  human behaviour  was wise because of a flawed ideology told them otherwise.....

And *that* opened the door for the bankstas....

BTW, it is sown not sewn....

Thu, 06/21/2012 - 11:41 | Link to Comment Lednbrass
Lednbrass's picture

LOL

The guy flying an SS flag starts carping about libertarianism? Talk about parroting horseshit and a mindless worldview...

You wouldnt be able to tie your own shoes without someone else making you feel safe and giving you instructions.

Thu, 06/21/2012 - 13:59 | Link to Comment malikai
malikai's picture

I've always thought very highly of you Flak. I guess this must be a difficult time for you.

Anyway, always good to hear someone else's opinion, even when it's silly and uninformed.

Thanks for the spelling tip, btw.

Thu, 06/21/2012 - 11:47 | Link to Comment Nick Jihad
Nick Jihad's picture

The Wilson administration gave birth to evils that continue to affect us. Not just the Federal Reserve, but also women's suffrage, which led directly to the federal income tax and alcohol prohibition. Prohibition is still with us today, in the form of the insane WarOnDrugs, giving the US the highest incarceration rate in the world.

Everyone seems to be asking, why do the middle and lower classes support a system that does not benefit them?  If you break things down by sex, you will find the benefits of this system go predominantly to one sex, while the costs are borne by the other. Social Security: most of the taxes are taken from working men, but the beneficiaries are predominantly women. Medicare is the same.  The war on drugs arrests and incarcerates men, and that is why it is politically sustainable.

Women are a majority of the electorate. They don't brag about this, in fact they make a big deal about being a "minority". They have good reason to keep quiet about the true state of affairs. They have constructed a system that benefits them, in a ways that are both subtle and obvious.  Sure, women are not getting rich in this system, any more than men are, but that is not what women want. They want a public-sector job with iron-clad security, and generous pension and healthcare benefits, and the system is delivering that. For men, it's go-to-work-or-go-to-jail, same as it ever was, because somebody has to pay.

Thu, 06/21/2012 - 10:00 | Link to Comment kridkrid
kridkrid's picture

So if the peak was the late 60's, why did you place the blame at the feet of the 80's? 

Something happened on August 15, 1971 that is worth investigating. 

This isn't about any sort of ism... it's about the monetary system and theft.  Any ism is easily co-opted by the banking oligarchs who really run the show.  Allow me to control the money and I care not who makes the laws (paraphrased).

Thu, 06/21/2012 - 10:09 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Precisely.  A currency backed by something real insures some level of real consequences for bad behavior.

Presecture the fucking fraud, end the damn Fed already.

Thu, 06/21/2012 - 10:44 | Link to Comment MachoMan
MachoMan's picture

2 choices loosely developed: fiat->prolifigacy->offshoring->deficits->hyperinflation/world war->onshoring or gold standard->prolifigacy->transfer of gold to creditor nations and then no prolifigacy + attempt at competition or, if prolifigacy, repeat the previous choice.

The experiment this time and the elephant in the room is what happens with the United States' gold.  Many theorize that it is gone...  to unknown whereabouts...  but presuming it exists, without military credibility on the part of creditor nations, how does the gold get transferred?  If it does not get transferred, then what is the real cost of prolifigacy?  Traditionally there are two options, transfer the gold or suffer military defeat...  if we have neither, then what?  Do we really have any consequences?

Obviously it's not a strategy that works in perpetuity, but then again no strategy works in perpetuity... 

Thu, 06/21/2012 - 10:54 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Similar to my thinking.  One big psyops experiment.  Power and control matters, period.  Everything else, not so much.

Thu, 06/21/2012 - 10:14 | Link to Comment Flakmeister
Flakmeister's picture

As I said it a process with dips and rises...

PS examine the rate of increase in oil imports when Nixon shut the window....

Thu, 06/21/2012 - 10:18 | Link to Comment LawsofPhysics
LawsofPhysics's picture

PS.  Talk to a black ops operative from the 70's and you'll understand that rate of increase.

Wake the fuck up.

Thu, 06/21/2012 - 10:26 | Link to Comment Karl von Bahnhof
Karl von Bahnhof's picture

1963

1971

1979

1989

2001

2008

????

Thu, 06/21/2012 - 10:07 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Drop the "ism" bullshit Flak, it is hurting your credibility and makes you look stupid.  We all know that soiciopaths end up manipulating any good idea or "ism" to enrich themselves and we all recognize the fascism we have now.  

Any monetary or eCONomic system will remain stable so long as there are real fucking consequences for BAD behavior, at all levels.  Personally I think that the guillotine would do wonders for confidence in "markets".  We can either figure out how to get along and advance humanity or kill each other.  Take your fucking pick, but either way you better make god damn sure the monetary system has some fucking grounding in reality. By the way I didn't junk you.

Thu, 06/21/2012 - 10:15 | Link to Comment Flakmeister
Flakmeister's picture

You of all people should know why the gold window was closed...

Even now, all that putative gold in Ft. Knox would buy ~18 months of imports....

Thu, 06/21/2012 - 10:17 | Link to Comment LawsofPhysics
LawsofPhysics's picture

You mean, we would have to start making things for ourselves?  Gee Flak, that sounds just horrible.  Now I will junk your lame ass.

Thu, 06/21/2012 - 10:27 | Link to Comment Flakmeister
Flakmeister's picture

Now, now... You know that I agree that the actions must have consequences and it will take more than Gupta and a few buddies at Galleon to right the ship...And you know damn well that I fully understand the importance of home-grown manufacturing...

That being said, the American people will not accept certain truths. Cheney said it best... Nixon was not going to pull a Carter and tell the nation that their "happy motoring" days were numbered...

Viet Nam and the unsustainable increase in the use of oil (does everyone really need a car with a 454 6-pack, not to mention burning the stuff to make electricity....) emptied the treasury....End of Story.

Thu, 06/21/2012 - 10:52 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Blah, Blah, Blah.  Got any solutions or are you now a history teacher?

Thu, 06/21/2012 - 11:15 | Link to Comment Flakmeister
Flakmeister's picture

Whatever solutions that may exist will certainly not be sound bites in a ZH comment log...

As for being a history teacher, there are a lot of people here that clearly were sleeping during that class...

Given my first point and the validity of the second, I am not going to waste my time discussing solutions with boetians that remind me of the sheep in Animal Farm...

Thu, 06/21/2012 - 09:43 | Link to Comment F. Bastiat
F. Bastiat's picture

Greediest individual I've seen lately is none other than the Hawaiian Allende.

Thu, 06/21/2012 - 14:00 | Link to Comment Cathartes Aura
Cathartes Aura's picture

the "F" is for Freddie, amirite?

that's you Freddie, parroting yer new "the Muslim" meme. . .

Thu, 06/21/2012 - 09:39 | Link to Comment sudzee
sudzee's picture

Another unpaid bone thrown to the masses:

Briefly putting election-year politics aside, the Senate on Thursday moved toward strong approval of legislation assuring that farmers hit by bad times will be protected and that millions of others hurt by the bad economy won't go hungry.

The Senate is expected to show bipartisan support for the $500 billion bill that sets farm safety net and conservation policies and funds the food stamp program over the next five years. The vote will come after lawmakers finish the final 10 of more than 70 amendments the Senate is considering as part of the 1,000-page bill.

Thu, 06/21/2012 - 09:53 | Link to Comment Bobbyrib
Bobbyrib's picture

Wow! If true that is disgusting. Throwing 500B onto the national debt. How many family owned and run farms still exist in this country? I sort of understand the food stamp measure, but when does it stop?

Thu, 06/21/2012 - 10:21 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Simply put, it is 500 billion to try and prevent social unrest, period.  End the subsidies and food jumps by over 50% easy, maybe more.  Then food stamp usage will jump accordingly.  Don't want to have Mittens become the new "food stamp president" when he takes over in 2013 now do we?

One party, for the banks and financial houses, by the banks and financial houses.

Thu, 06/21/2012 - 10:18 | Link to Comment Sophist Economicus
Sophist Economicus's picture

This stuff make me laugh out loud.    These syphillitic morons vote farm subsidies for industry giants and fund 'conservation policies' that really means more rank and file members in their goon squads to harass and sue small farmers that don't comply to ever increasing EPA regulations, raw milk regulations, etc.  

Thu, 06/21/2012 - 10:22 | Link to Comment LawsofPhysics
LawsofPhysics's picture

You are correct sir.  More consolidation of power and control, pure and simple.

Thu, 06/21/2012 - 14:07 | Link to Comment Cathartes Aura
Cathartes Aura's picture

when one stops trying to make the daily facts fit a narrative that includes a "nation" with invented backstory, and simply looks at what is actually happening, sans the fairy tale of "history" - just use one's mind to SEE what is actually happening - then it's very obvious where this is all headed.

it's when one tries to reconcile "national history" taught you by your captors that the dissonance overcomes the rational thinking.

just tell yourselves the truth of what you witness, and things get more clear by the day. . .

Thu, 06/21/2012 - 09:43 | Link to Comment BLOTTO
BLOTTO's picture

I think the blame is two parts...

1st part - global eltite, illuminati, blue bloods, Satanists = TPTB

2nd part - we the people - let it happen

However, the conditioning and brainwashing with the help of the illuminati controllled mainstream media is a HUGE medium advancing the agenda and i can see how the MASSESS are in TOTAL DENIAL...

Because its so UNFATHOMABLE to even think - that our life has been infiltrated and hijacked by the biggest global satanic conspiracy man has ever faced.

 

 

Thu, 06/21/2012 - 11:25 | Link to Comment boiltherich
boiltherich's picture

The problem is that we cannot have an "American Spring" as the Arabs have been having because our powers that be are far more sophisticated and far better funded and armed, the masses could win against the 1% elite but a bloodbath would still happen, the price would be really high on both sides. And a few years back we woke up one day to find that all the levers of peaceful power in our constitution granting sovereignty to the common man were eroded to nothing between 1971 and 2012.

I would agree with you that the sheep share the blame because they LET it happen except that some of the founders predicted just this outcome. You know, he that trades liberty for safety and deserving neither, watering the tree of liberty with the blood of patriots. They knew over 200 years ago that the formula would not in the end really work. They knew it because they knew greed would trump all efforts to control it, and now we have a whole political party based upon greed, run by for and of the 1%. 48,000,000 will vote for Bain Capital's candidate for president in a few months.

I do not think the masses are so much in denial as they understand clearly that not to deny is both futile and extremely risky for their personal health. I am not really disagreeing with you, just another way of looking at the same thing.

Thu, 06/21/2012 - 14:18 | Link to Comment forexskin
forexskin's picture

maybe take a closer look at the source of arab spring uprisings - more closely related to the color revolutions funded my the national endowment for democracy - certainly not an example of behavior for americans shedding their sheep-ness...

 

i'll repeat what bankruptcylawyer said - nothing changes until americans experience real hunger, and if we read right, that'll be just after the 2nd ban goes into effect. another rhyme of history.

Thu, 06/21/2012 - 13:44 | Link to Comment e-recep
e-recep's picture

ah please stop this satan crap. it's a fiction of your imagination which not everyone has to share. live your beliefs silently.

Thu, 06/21/2012 - 09:45 | Link to Comment nah
nah's picture

the lazy bastards that physically mined, manufactured, and assembled it, and thot the earned it

.

go china!

Thu, 06/21/2012 - 09:46 | Link to Comment Mercury
Mercury's picture

If you change the title to:

"Who Destroyed The Private Sector Middle Class?"

...it would be more accurate and also imply the answer.

Thu, 06/21/2012 - 09:58 | Link to Comment TrulyStupid
TrulyStupid's picture

The private sector middle class committed suicide, like the rest of the country.

Thu, 06/21/2012 - 09:50 | Link to Comment Bobbyrib
Bobbyrib's picture

He only glanced over the Community Investment Act and did not insult Obama enough to my liking (I supported him during the election then figured out pretty quickly he was a fraud). I gave it 3 out of 5. The Community Investment Act was a larger part of the economic downturn than the author leads on. He never mentioned Fannie and Freddie which allowed the bankers to give loans guaranteed by you and I.

That being said I do feel an incredible amount of empathy toward the unemployed people of this country. Most of them would like a job, but there really aren't any left (outsourced, replaced by visa workers, or destroyed by the financial crisis). Our country has been gutted and I'm thinking of leaving since the majority of people seem to blame the average person (as the author suggests) rather than corporations and the banker elite. To me this signals that nothing will change.

 

Thu, 06/21/2012 - 09:51 | Link to Comment Rainman
Rainman's picture

The only positive thing to happen the past 5 years is that the industry of deceit has become much more stressful for all the sociopaths. Many in the audience are far better tuned into how the magicians create these diversionary tricks...making bald faced lying far more frustrating and time consuming.

Thu, 06/21/2012 - 09:54 | Link to Comment cherry picker
cherry picker's picture

They sell a dream that doesn't exist anymore,  I know many people who survive due to government largesse.  If it weren't for disability, food stamps, social security, and such, we would be looking at America looking more like India.

There are so many rules and regulations, so many law enforcement types, all with guns, my neighbor (a vet) and I agreed we were more worried about being stopped by law enforcement in the USA than in Mexico.  That says a lot for two old codgers who have been there and done that.

All these law enforcement types get paid by government. 

You have to wonder where the money is coming from.....

Thu, 06/21/2012 - 12:19 | Link to Comment WillyGroper
WillyGroper's picture

Why, Jamie Dimon of course!

Thu, 06/21/2012 - 09:56 | Link to Comment j.tennquist
j.tennquist's picture

There is no middle class, there never was.   It was an illusion crafted to make people believe we live in a homogenous vanilla flavored society that aspires only to greater suburbia.  

People exist at all economic stratas.  Wealthy, poor, and a million gradations in between.  Mostly of their own making.

The idea that a special economic class is getting screwed is laughable.   We're all getting screwed, but it has nothing to do with money, but power.    Focus on money at your own peril.    The new wealth is information and power.   Look at the Eurocrats, are they really just fighting to keep the Euro together, or to keep their precious power base intact?   Think the Chinese pols care about the proletariat?   Think your senator really gives a shit about your well being?

Middle class...  oh brother.

Thu, 06/21/2012 - 09:55 | Link to Comment DavosSherman
DavosSherman's picture

“With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.” – Ben Bernanke – November 2005

Priceless

Thu, 06/21/2012 - 09:56 | Link to Comment lynnybee
lynnybee's picture

& just who are these "monied interests " ?    come on, tell me.    name the names.    put the puzzle together.   if i say it i will get junked or called worse.     say it.    who are these "crafty " bankers ?       just wait til the masses figure it out.     

Thu, 06/21/2012 - 10:10 | Link to Comment BlueCollaredOne
BlueCollaredOne's picture

What are jew talking about?

Thu, 06/21/2012 - 10:38 | Link to Comment Divided States ...
Divided States of America's picture

Yup the middle classed got Screwed by the Jews

Thu, 06/21/2012 - 10:52 | Link to Comment Flakmeister
Flakmeister's picture

Is that what your annotated copy of Mein Kampf told you?

Thu, 06/21/2012 - 12:15 | Link to Comment WTFx10
WTFx10's picture

http://www.iamthewitness.com/DarylBradfordSmith_Rothschild.htm

Bits of HISTORY

1897: The Rothschilds found the Zionist Congress to promote Zionism (a political movement with the sole aim of moving all Jews into a singularly Jewish nation state) and arrange its first meeting in Munich.  However due to extreme opposition from local Jews, who are quite happy where they are, this meeting has to be moved to Basle, Switzerland and takes place on 29 August. The meeting is chaired by Ashkenazi Jew, Theodor Herzl, who would state in his diaries,

"It is essential that the sufferings of Jews….become worse….this will assist in realization of our plans….I have an excellent idea….I shall induce anti-Semites to liquidate Jewish wealth….The anti-Semites will assist us thereby in that they will strengthen the persecution and oppression of Jews. The anti-Semites shall be our best friends."

Herzl is subsequently elected President of the Zionist Organisation which adopts the, "Rothschild Red Hexagram or Sign," as the Zionist flag which 51 years later will end up as the flag of Israel.

1925:  This year's Jewish Encyclopaedia, states of the existence of Ashkenazi Jews (who represent approximately 90% of so-called world Jewry), with the startling admission that the so called enemy of the Jews, Esau (also known as Edom, see Genesis 36:1), now actually represents the Jewish race, when on page 42 of Volume V it is stated,

"Edom is in modern Jewry."

So what they're basically saying is that these Ashkenazi Jews, who represent 90% of the so-called Jewish population, are actually gentiles or goyim themselves.

1943: February 18th, Zionist, Izaak Greenbaum, head of the Jewish Agency Rescue Committee, in a speech to the Zionist Executive Council states,

“If I am asked, could you give from the UJA (United Jewish Appeal) monies to rescue Jews, I say, no and I say again no!”

He would go onto state,

“One cow in Palestine is worth more than all the Jews in Poland!”

This is not a surprise, the whole idea of Zionist support for the slaughter of innocent Jews was to scare the survivors into believing that their only place of safety was Israel.  How else do you think the Zionists could ensure Jews leave the beautiful European cities in which they live, in order to settle in a desert!

Thu, 06/21/2012 - 09:56 | Link to Comment e-recep
e-recep's picture

Well, the middle class of the USA may be destroyed but the middle class of China is booming. They work for less and pull the jobs like a magnet. It's as simple as that.

Until the real wages equalize, the American and European middle classes will slide further and the Chinese middle class will do better and better. Cheaper products from China come at a price and that price, my friends, is increasing joblessness and stagnating wages. Why is it so hard to accept this?

And yeah, the banking cabal did their best to stay at the top while the ship was sinking but prey tell me, when were the bankers NOT selfish and predatory? When?

Thu, 06/21/2012 - 10:00 | Link to Comment Sophist Economicus
Sophist Economicus's picture

The problem with these simplistic, macro level assessments of 'what went wrong' is that they never get to the root of the problem.

 

So, 'good' middle class jobs went away, eh.    OK, let's name the industries.   Hmmmm, let me think.   Could steel be one?   How about mining?   Automobile production?   MAchine tool manufacturing?   Aerospace?   Textiles?

 

Now, when these jobs disapear and why?   Hmmm, let's see, BIG Unions had monopoly bargining granted to them and started to ramp up wages in the late 50s and 60s.   Wages accelerated faster than the cost of inflation when benefits, social security, etc were factored in.    This, of course was all done to help 'The little guy'.  In addition, add increasing levels of taxation, destruction of the dollar by TREASURY - NOT THE FED, increased regulation from an ever expanding goverment alphabet soup of agencies and ---  these evil oligarchs slowly went broke.   Steel, auto, textiles, industries shut down here.   Some expanded over seas, most just went bye-bye.  There was one saving grace as foreign manufactures in these same industries opened up shop here to manufacture exactly the same types of products - IN NON UNION SHOPS - and are still profitable.

So now, we have three class of folks.   The uneducated  and unskilled, who do not have industries that could start them on the road to employment.   Unless they help themselves, they are doomed.   At the other end we have highly skilled folks that are in demand and have lots of opportunities and are doing quite well (and FIRE isn't the industry groups that are really doing the hiring any more) and we have folks in the middle.   Some will do well, others - because of flaws in their personality, incomplete skill set or just bad luck, will bump around - doing OK, but never hitting it out of the park.

 

How to fix it?   Easy.   Sound money, small government that protects the rights of individuals, and a FREE MARKET that allows workers and employers to do what each does best.   Everything else is mental masturbation

Thu, 06/21/2012 - 10:18 | Link to Comment dwdollar
dwdollar's picture

"How to fix it?   Easy.   Sound money, small government that protects the rights of individuals, and a FREE MARKET that allows workers and employers to do what each does best."

That's not so easy. America had one of those sound money and small government thingies and couldn't keep it. If Americans couldn't keep it, how the hell are they going to restore it?

We are looking at dark times where some idiots need to die and the idiot vs. intelligent ratio shrinks considerably. Darwin's going to sort us out.

Thu, 06/21/2012 - 10:21 | Link to Comment Sophist Economicus
Sophist Economicus's picture

I'm all for less idiots, let the process begin!

Thu, 06/21/2012 - 11:51 | Link to Comment boiltherich
boiltherich's picture

It's ALWAYS the fault of unions with you people isn't it?  Completely miss the fact that the decline of the middle class started with and has been in lockstep with the dismantling of union power did you?

The top 10% of the nation gets more than three quarters of all wealth, more than half of all earned income, and almost ALL of the increases in income in the last ten years, yet it is the unions to blame. The 1% has the most powerful union of them all, congress and the organs of the whole federal and most state governments, as it is run by the bribery machine on K Street.

Funny that because American prosperity as a nation exactly mirrors the health of the unions, their membership and power peaked at the same time the nation's health and power did back in about 1969/70. Then when Raygun attacked unions our national health started to plummet masked only by his MASSIVE new fiscal deficits and dollar devaluation (inflation).

Also, the steel companies, the auto companies, GE, the firms that employed a vast chunk of middle class America and which grew into mega conglomerates on the manufacture of goods did something starting in the seventies that I have never seen mentioned at ZH, they started to make more money - a lot more - from being banks than from manufacturing goods. The three largest issuers of commercial paper were, are, Ford, GM, and GE. At least that was the order when I was in corporate trust in the mid 1990's. Why would they upgrade models and invest in manufacturing plant and equipment, or employees when they make most of their profits from debt and lending?

I had a CAT scan last spring at the VA, the new CAT scanner should have been a GE machine, it was Phillips made in Holland, GE still makes CAT scanners but they have no interest in competing on quality or price, they spend on marketing true, but in the end their product was double the price of a better and easier to use European scanner. ZIRP has only made this worse since now the issuers of commercial paper can borrow at the Fed window at 0% and with that ever basis point is pure profit.

Thu, 06/21/2012 - 11:11 | Link to Comment MeBizarro
MeBizarro's picture

I assume you regarding late-19th America then as some kind of misguided view Golden Age of America when the average American enjoyed a great lifestyle, strong wages, etc despite the fact that if you go back and look at the American average in the late-19th century they often lived in squalor (and horrible conditions in tentaments in most urban areas especially Chicago, NYC, and Cleveland) and struggled to eek out an existence (e.g., most of the farmers in the South who were overwhelmingly share croppers and were lucky if they made it to the next year if they had a good growing season to repay their creditors and land holders).

Thu, 06/21/2012 - 12:29 | Link to Comment WillyGroper
WillyGroper's picture

Riiiiight, blame union wages. Not that unions are not corrupt. How do you explain the exponential rise in what CEO's are raking in? Not one of them is worth 1/10 of their filthy lucre. Parasites, all of them.

Thu, 06/21/2012 - 12:29 | Link to Comment blunderdog
blunderdog's picture

    ...these evil oligarchs slowly went broke.

You must be an idiot or something. 

I mean, sure, you can SAY all the Rockefellers and Vanderbilts and Rothschilds are poor now, but, uh...

Thu, 06/21/2012 - 09:57 | Link to Comment fabmax
fabmax's picture

For sure bloody Europeans have to be blamed for all this, especially bloody Germans.

Up with the U.S. (more or less)

 

 

 

Thu, 06/21/2012 - 09:59 | Link to Comment marcusfenix
marcusfenix's picture

so, where is all the money going? there is a lot of it going MIA, more then most people realize I think.

what happened to the 2+ trillion the pentagon couldn't remember spending and didn't have receipts for just before 9/11, or the hundreds of billions that continue to go missing in Iraq, Afghanistan and pretty much anywhere else the US chooses to liberate.?

or how about the home front, the billions that go missing from federal, state and county education funds, or medicare part D, or any social welfare program for that matter?

I've often wondered if you could track down and add up all the money that goes missing, that quietly vanishes in the ether ever year, how much does it add up to, and where does it go?

Thu, 06/21/2012 - 10:39 | Link to Comment Bob
Bob's picture

No doubt the other agencies have some accounting irregularities from time to time, but only one doesn't have the problem of having to pass any audit at all:

 

http://www.truth-out.org/department-defenses-unending-nightmare-pass-audit-2017/1317146062

They're working real hard to develop basic bookkeeping systems by 2018, though, irrc.

But the most important thing is that they keep us safe, right?

Thu, 06/21/2012 - 10:03 | Link to Comment Bob
Bob's picture

Awww, say it ain't so: This sounds like that most pernicious of evils, "class warfare." 

I thought talking about that was against the rules.  All the rules.

What about the Job Creators?  They have feelings, you know. 

And Econ 101, too. 

I just don't know what to say about this, Charles.

Thu, 06/21/2012 - 10:01 | Link to Comment azzhatter
azzhatter's picture

I'm convinced that most americans are not capable of big thoughts. No critical thinking. They focus on the little things that surround their daily life and refuse to see the destruction of the once great society. They accept loss of freedoms willfully, even encourage in the name of the boogeyman in the corner. No great patriots step forward, and if they try they are immediately tin foiled by a co-opted media. The population has been dumbed down to the point they will accept any shit sandwich they are fed with little resistance

Thu, 06/21/2012 - 11:59 | Link to Comment Lednbrass
Lednbrass's picture

It isnt just Americans, its all humans,  People arent better anywhere else.

The Europeans with Masters degrees I was working with in 2008-9 were as clueless about events as the dumbest high school dropout living off the government in in US city.

Thu, 06/21/2012 - 12:02 | Link to Comment ebworthen
ebworthen's picture

Subway has a $5 foot-long shit sandwich, don't they?

I think I saw a commercial for it while watching "American Idol", or "Glee".

That Ron Paul is a nut job!  Can you believe he doesn't want to drone bomb Afghanistan & Pakistan?

(/sarc)

Thu, 06/21/2012 - 10:03 | Link to Comment bankonzhongguo
bankonzhongguo's picture

Generally, I just don't think things will begin to turn around until at least one notably wealthy or powerful person is murdered.  I don't even think we are past Act I.

I am not advocating violence by any measure, however at some point some unemployed guy whose wife has cancer, some welfare mother getting shorted on her government cheese, some deranged misanthrope college student with $100,000 in unserviceable debt will pull a trigger on some health insurance CEO, some hedge fund maven or banker and yes lastly some wonk at the Fed or IMF.  Every reasonable person is insulted at Buffet masquerading as a kindly old man, or Soros really being interested in social justice, or The Bernak really giving a crap about unemployment.  It's no different than Holder being interested in Justice.  Obama and krew could have offered ZIRP to every American mortgagor, but nope - more debt slavery so elites can continue eating your children.

Everyone has heard the passive stories of Wall Streeters jumping from roof tops at the onset of the Great Depression.  You never hear about legions of unemployed descending upon some banker's family like locust.  If there was any justice in this world, some clever disgruntled caterer would serve Bath Salts in the eggnog at the next Goldman Christmas party - 'a festivus for the rest of us.'

There is something about; 'the tree of liberty watered with the blood of tyrants and patriots.'  Would it have been terrorism to kill Hitler before Kristallnacht, or an act of worldwide human goodness?

We can keep staring at pies and graphs, but the powers that rage will not change course until one of their own is publicly cut down.  That, or something (ANYTHING) trickled down to the befuddled masses.

Thu, 06/21/2012 - 10:32 | Link to Comment xcehn
xcehn's picture

"the powers that rage will not change course until one of their own is publicly cut down."

That will just provide the excuse they need to implement more tyrannical laws that violate the constitution. The best thing going for the thugs (besides their military) is that the masses totally believe that violent insurrection is never the answer. The second thing is that the masses just don't get it, to put it gently. That leaves those of us with the relative luxury to still read and comment on blogs to seethe in anger whilst the criminal government and their corporate masters continue to ruthlessly dominate, manipulate, exploit, and plunder.

Thu, 06/21/2012 - 11:14 | Link to Comment MeBizarro
MeBizarro's picture

Violent insurrection is not the answer.  If you don't think that the US gov't and violence if necessary includign turning the state militia/National Guard or even Army units on the US popluation., you have studied much of our history.  Hell, the first major act of our country was Washington crushing farmers in Western PA who were trying to get around the excise taxes on turning corn into alcohol.

 

 

Thu, 06/21/2012 - 13:58 | Link to Comment Karl von Bahnhof
Karl von Bahnhof's picture

One week worldwide strike, just for beginning...

Thu, 06/21/2012 - 10:34 | Link to Comment azzhatter
azzhatter's picture

In principle I agree with you. Not sure if just one would do it, but a string of bloody killings of CEO's could be a catalyst to change. The sociopath's do not feel the pain of the greed and corruption and will continue until it leads to their own destruction. I am not a violent person by any means, but I sincerely believe we have crossed a line and violence is the only way to stop it. TPTB will not repsond to anything else.

Thu, 06/21/2012 - 11:17 | Link to Comment MeBizarro
MeBizarro's picture

It would change nothing except bring back a significant blowback from the powers that be and a draconian response if necessary.  Americans have almost always in history been willing to ceded rights for 'security' and I have no doubt would do if there were percevied anarchy.

You post should like some kind of ranting from an anarchist around the turn of the 20th century.  They thought the same way and largely changed nothing.  If anything, it is what led to the eventual creation of the FBI and a much more pronounced involvement of the Federal Gov't into domestic security issues in the first place. 

Thu, 06/21/2012 - 12:24 | Link to Comment MrButtoMcFarty
MrButtoMcFarty's picture

K Street must die.

Thu, 06/21/2012 - 14:26 | Link to Comment Cathartes Aura
Cathartes Aura's picture

don't hold your breath. . . the "unemployed guy" or "welfare mother" or

deranged misanthrope college student with $100,000 in unserviceable debt will pull a trigger on some health insurance CEO,

is more likely to pull a trigger on the school cafeteria he's mad at for not seeing what he "sees" - most haven't a fkg clue why things are deteriorating, but they know they HATE others for not feeling like they do - be it despair, rage, whatever.  people who feel helpless anger act in the moment, and are not going to stalk a CEO to finish up their suicide by cop - they'll hit their wall, lash out in blind emotional fury, and go out with a news story, if they kill enough innocents. . .

the rage is useless, it doesn't protect the individual, nor the families, nor the communities - it just feeds into the overlords agenda.

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