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How The U.S. Will Become a 3rd World Country (Part 2)

Tyler Durden's picture





 

Submitted by Ron Hera of Hera Research

How the U.S. Will Become a 3rd World Country (Part 2) (Part 1 found here)

The United States is quickly coming to resemble a post industrial neo-3rd-world country.  Unemployment, lack of economic opportunity, falling real wages and household incomes, growing poverty and increasing concentration of wealth are major trends in the U.S. today.  Behind these growing problems are monetary inflation created by the Federal Reserve’s monetary policies, federal government deficit spending and the dominant influence of “too big to fail” banks and large corporations in Washington D.C., which has altered the direction of law in the United States.  To make matters worse, the U.S. government faces a historic fiscal crisis.

High unemployment, lack of economic opportunity, low wages, widespread poverty, extreme concentration of wealth, unsustainable government debt, control of the government by international banks and multinational corporations, weak rule of law and counterproductive policies are defining characteristics of 3rd world countries.  Other factors include poor public health, nutrition and education, as well as lack of infrastructure—factors that deteriorate rapidly in a failing economy.

Apparently ineffective regulation and relatively little law enforcement action by the federal government in the wake of the sub-prime mortgage meltdown resulted in widespread speculation that special interests had taken priority over the rule of law.  Critics have also charged that the federal government’s policies threaten to eliminate what remains of the American middle class.

Accelerating Concentration of Wealth

In response to the economic downturn that began in 2007 and the start of the financial crisis in 2008, the U.S. federal government and the Federal Reserve resorted to a radically inflationary policy intended to save banks and to shepherd the U.S. economy through a recession.  Instead, radically inflationary policies greatly increased the concentration of wealth.

Under ordinary circumstances, monetary inflation has the effect of redistributing wealth in favor of those who receive newly created money first.  The value of money is reduced as a function of the number of currency units in the economy but recipients of newly created money can spend it before it loses value.  In a declining economy, however, the wealth redistribution effects of inflation are magnified.

When the Federal Reserve or the federal government supports banks and financial markets through liquidity injections, bailouts, asset purchases, quantitative easing, etc., the lion’s share of financial support, i.e., newly created money, is captured by the largest financial institutions and by the wealthiest 1% of Americans.  Money printing skews the distribution of money over the economy while the value of money, i.e., the purchasing power of wages and savings, is reduced.  The overall effect is a wealth transfer from proverbial Main Street to literal Wall Street.

Looming Fiscal Crisis

U.S. government debt and deficit spending have markedly accelerated over the past decade.  For example, The U.S. Department of Homeland Security (DHS) was created and the U.S. military grew to 3 million active duty and reserve personnel, not including contractors.  Since 2001, the U.S. spent approximately $1 trillion on military expansion while the total cost of the U.S. wars in Afghanistan and Iraq has been estimated to exceed $3.7 trillion.

Although the U.S. federal government remains in denial, the Congressional debt ceiling debate and subsequent U.S. credit rating downgrade on August 5, 2011 were only the tip of the iceberg.  In fact, the United States faces a historic fiscal crisis.

As of 2012, the majority of new federal government debt will stem from interest on existing debt.  Treasury bond issues totaled $2.55 trillion in 2010, roughly 2x the federal budget deficit of $1.3 trillion.  Artificially low U.S. Treasury bond yields, created by the Federal Reserve’s quantitative easing (QE1 and QE2) programs and by its current “Operation Twist,” only slow the rate at which the federal debt balloons.

The U.S. federal government’s fast growing debt is $14.94 trillion, approximately 100% of GDP.  Additionally, future liabilities total $66.6 trillion based on generally accepted accounting principles (GAAP accounting) and using official data from the Medicare and Social Security annual reports and from the audited financial report of the federal government.

1.    Medicare: $24.8 trillion
2.    Social Security: $21.4 trillion
3.    Federal debt: $10.2 trillion* (not including intra-governmental obligations)
4.    State, local government obligations: $5.2 trillion
5.    Military retirement/disability benefits: $3.6 trillion
6.    Federal employee retirement benefits: $2 trillion

The eventual insolvency of the U.S. federal government cannot be averted through any combination of taxes, budget cuts or realistic GDP growth.  Inflationary policies, i.e., increasing deficit spending by the federal government and debt monetization by the Federal Reserve, would devalue the U.S. dollar and potentially trigger a hyperinflationary collapse of the currency.  To stave off the inevitable, interim measures might include tax increases, exchange controls, nationalization of pension funds or other measures similar to those taken in 3rd world countries.

Dominant Corporate Influence

In a 2009 radio interview on Elmhurst, Illinois’ WJJG 1530 AM, Senator Dick Durbin (D-Ill.) explained that “…the banks—hard to believe in a time when we’re facing a banking crisis that many of the banks created—are still the most powerful lobby on Capitol Hill.  And they frankly own the place.”  Senator Durbin was unequivocal in saying that the federal government of the United States is controlled by banks.  Simon Johnson, former chief economist of the International Monetary Fund (IMF), had reached the same conclusion one month earlier in his widely read article The Quiet Coup.  Johnson explained that the finance industry had effectively captured the U.S. government, a state of affairs typical of 3rd world countries.

Corporate influence over the political process, as well as over the tax and regulatory policies of the United States, is at an all time high.  The federal government is the largest single customer in the U.S. economy and, through taxation or regulation, the government can grant or deny market access to private companies and can either prevent or mandate the consumption of their products and services.  As a result, virtually every large corporation in the United States seeks to win the government’s business and to steer government tax policies and regulations in their favor.  Naturally, politicians who accede to the wishes of particular corporations are given campaign funds to ensure their reelection.  In the past decade, the amount of money spent on lobbying has more than doubled and there are currently 24 lobbyists for every 1 member of Congress.

The interdependence of elected officials and the largest U.S. corporations reached a new high with the 2008 bank bailouts.  The influence of private corporations and de facto industrial cartels (comprising the largest corporations in each major industry) over tax and regulatory policies creates significant economic distortions that ultimately compromise the sustainability and the stability of the economy.  Ideally, the government would be an impartial referee, rather than an active business partner that overwhelmingly favors large businesses over small businesses, despite the fact that small businesses account for the vast majority of American jobs.

Impact on the Rule of Law

Corruption, cronyism and weak rule of law are typical of 3rd world countries.  The United States exhibits a clear corporate influence over elections and legislation and, arguably, relatively little law enforcement action where large, legally well-equipped corporations are concerned.  Reports of so-called crony capitalism have appeared in the U.S. news media, but the term “corruption” has been avoided, along with discussion of fundamental reforms.

A cursory examination of legal developments over roughly the past decade evidences a pattern in which U.S. federal law systematically favors the largest financial institutions, as well as a paradigm in which financial institutions heavily influence both the regulations that putatively govern their activities and the laws that apply to consumers of their products and services.  The financial crisis that began in 2008 and the subsequent response of the federal government appear to follow logically from prior legislative events:

  1. 1999 Gramm–Leach–Bliley Act (GLB).  The Act repealed key provisions of the Banking Act of 1933, commonly known as the Glass–Steagall Act.  In the aftermath of the Great Depression, the Glass–Steagall Act prevented depository institutions from engaging in high risk financial speculation.
  2. 2000 The Commodity Futures Modernization Act (CFMA).  The Act deregulated over-the-counter (OTC) derivatives, such as credit default swaps, referred to by Warren Buffett as “financial weapons of mass destruction.”  OTC derivatives were at the heart of the financial crisis that began in 2008 and are the root cause of the “too big to fail” doctrine.  The Act preempted state gaming laws that had prevented banks from speculating in OTC derivatives with no connection to underlying assets.
  3. 2001 USA PATRIOT Act.  The financial provisions of the Act allow banks to collect additional financial information about account holders, for example, linking business accounts to the personal financial records of business owners, thus weakening both financial privacy and the corporate veil.  The Act enhances the ability of creditors to collect and allows federal authorities to monitor financial transactions and to obtain financial records without a subpoena.
  4. 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA).  The Act, which was sponsored by banks and credit card companies, effectively eliminated the concept of a “fresh start” by allowing banks and credit card companies to engage in collections activities, in effect, forever.  As a result, small business owners who end in bankruptcy are less likely to ever start another business.  The Act places banks in front of bankruptcy courts, creates liabilities for bankruptcy attorneys and contains many widely criticized, anti-consumer provisions.
  5. 2008 Emergency Economic Stabilization Act.  The Act, commonly referred to as a “bank bailout,” authorized the United States Secretary of the Treasury to spend $700 billion to purchase distressed assets, especially mortgage-backed securities (MBS).  Instead, the funds were given to foreign and domestic banks to offset their risky MBS, OTC derivatives and other losses.  The bank bailout set a precedent of socializing losses but keeping gains private.  The Act effectively bound the fate of the U.S. Treasury to that of the largest U.S. financial institutions.
  6. 2010 Citizens United v. Federal Election Commission.  The Supreme Court of the United States held that corporate funding of independent political broadcasts in candidate elections cannot be limited under the First Amendment, overruling prior case law and guaranteeing the ability of corporations to influence elections without meaningful restrictions.  The Court’s decision gave carte blanche to corporations to influence elections, legitimized the interdependence of elected officials and large corporations and created a precedent under which the rights of corporations supersede those of citizens.
  7. 2010 The Dodd–Frank Wall Street Reform and Consumer Protection Act.  The Act failed to restore critical provisions of the Glass–Steagall Act, significantly regulate OTC derivatives, break up “too big to fail” banks, prevent another financial crisis and prevent further bailouts.  The Act created a Consumer Financial Protection Bureau, but did not repeal any provision of BAPCPA or restore the financial privacy of U.S. citizens removed by the USA PATRIOT Act.  The Act failed to provide adequate funding to the government’s watchdogs, the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Federal Bureau of Investigation (FBI), potentially hobbling enforcement.  The Act has also been criticized for the burden it places on smaller competitors in the financial sector, which could ultimately result in an increased concentration of financial power in “too big to fail” banks.

Critics have alleged that, underlying the sub-prime mortgage meltdown that triggered the financial crisis in 2008 was rampant fraud.  Fraud has been alleged at virtually every level from the assessment of property values and credit risk; to the loans themselves and to their securitization as MBS assets; to the ratings of MBS assets as AAA; to hedging or betting against MBS assets in the OTC derivatives market (perhaps including financial firms allegedly betting against MBS assets that they themselves created and sold to clients as AAA assets).  After the crisis, a seeming pattern of fraud continued apparently unabated in the robo-signing foreclosure scandal where documents submitted to courts were falsified.  Despite an avalanche of alleged crimes under existing federal law, no firm or individual of any significance in the financial crisis has yet been prosecuted.

President Barack Obama said in October 2011 that the mortgage finance practices leading to the economic meltdown were “immoral, inappropriate and reckless … but not necessarily illegal.”  Since fraud is, in fact, illegal, critics claim that the U.S. federal government has simply failed to enforce the law.  Adding fuel to the fire, the Solyndra loan scandal could be construed to suggest corruption at high levels and the MF Global debacle could be construed as indicative of weak regulation and law enforcement and even of questionable market integrity.

In theory, selective enforcement of the law risks the creation of two sets of laws: one for big banks and corporations, and for their executives, i.e., those with connections in Washington D.C. or on Wall Street, and one for everyone else.  Among other things, failure to enforce the law could create an environment in which crime pays, but, for ordinary citizens, hard work, prudent financial decision making, saving and investing for the long term do not.

More than any other aspect of America’s progression towards 3rd world status, the federal government’s low level of law enforcement action where “too big to fail” banks are concerned is perhaps the most insidious because it raises questions of legitimacy and of the social contract.  A financial and legal system of moral hazard implies that victims face double jeopardy while they are deprived of legal recourse, i.e., those allegedly defrauded might face inflation and tax burdens stemming from preferential treatment of favored corporations or from further bailouts.

Destructive Tax Policies

In the face of rising government debt, the rapidly shrinking American middle class is the primary target of the U.S. federal government’s tax policies.  The eventual extinction of the American middle class would be a key milestone along the road to 3rd world status.  Current U.S. tax policies favor the largest corporations and this is unlikely to change in the foreseeable future.  Although tax increases exacerbate economic downturns, several tax options have been or are being discussed.  However, none of them are likely to be put in place.

•    Increasing taxes on corporate profits would result in job losses in the short term and would affect dividends and share prices in the stock market.  Lower dividends or share prices would affect pension funds, including government pension funds.
•    Increasing taxes on capital gains would impact the non-tax-exempt investments of the now retiring “baby boomer” generation and would reduce capital formation thus reducing investment in new businesses or business expansion and hampering job growth.
•    Increasing payroll taxes would cause companies to downsize resulting in job losses and would have a chilling effect on hiring.
•    A Value Added Tax (VAT) is impractical in the United States because countless special taxes already exist at all levels of the supply chain.  To prevent unpredictable, disruptive consequences, implementing a VAT would require years of study and comprehensive tax reform.
•    A national sales tax is undesirable because it would overlap and interfere with already existing state sales taxes, which are highly inconsistent across states.
•    Carbon taxes remain possible but they would encumber businesses and result in job losses or reduce hiring.

Chief among the remaining possibilities is the income tax but, according to the Tax Policy center at the Urban Institute, Brookings Institution, 46% of American households will pay no federal income tax in 2011.  The reasons include income tax exemptions for subsistence level income, dependents and nontaxable tax expenditures for senior citizens and low-income working families with children.

Assuming that big banks, multinational corporations and the wealthiest 1% of Americans remain off limits in terms of tax policy, the range of income taxed is likely to widen from the current tax on households earning more than $250,000 per year to progressively lower income levels.  In fact, the government’s intended revenue source is precisely what remains of the once much larger middle class: professionals, small business owners and dual income families in urban areas, etc.  These are the households that have managed to stay ahead of inflation, declining real wages and falling household incomes.

Among other things, U.S. tax policies will erode capital formation within the remnants of the middle class, which is the engine of small business creation and the source of most American jobs.  The eventual result will be a three-tier socioeconomic structure consisting of a super rich wealthy class, a much poorer working class and a massive, politically and financially disenfranchised underclass, similar to that of a 3rd world country.

Via Dolorosa

The United States increasingly resembles a 3rd world country in terms of unemployment, lack of economic opportunity, falling wages, growing poverty and concentration of wealth, government debt, corporate influence over government and weakening rule of law.  Federal Reserve monetary policies and federal government economic, regulatory and tax policies seem to favor the largest banks and corporations over the interests of small businesses or of the general population.  The potential elimination of the middle class could reshape the socioeconomic strata of American society in the image of a 3rd world country.  It seems only a matter of time before the devolution of the United States becomes more visible.  As the U.S. economy continues to decline, public health, nutrition and education, as well as the country’s infrastructure, will visibly deteriorate.  There is little evidence of political will or leadership for fundamental reforms.  All other things being equal, the U.S. will become a post industrial neo-3rd-world country by 2032.

 


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Sat, 12/03/2011 - 10:43 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

The USA has always been a first world nation conjoined to a third world one.  Figure out which is which.  Assess your talents and choose the USA you want to live in.  If you are not rich or highly educated, you probably cannot choose the first world USA.

Sat, 12/03/2011 - 14:24 | Link to Comment FeralSerf
FeralSerf's picture

California is wealthy because of the poor, mostly Mexican and Asian immigrants, not in spite of it.  The gold mines, the railroad construction, and the agriculture industry was staffed largely by those immigrants.

One shouldn't forget who the immigrants, legal and illegal,  to California were before 1848, Gringo.

Sat, 12/03/2011 - 07:22 | Link to Comment e-recep
e-recep's picture

The American high school education is a farce compared to Western Europe.

The best universities are still in USA though, because they are filled with top class international graduate students and they have deep pockets or get huge funds.

Sat, 12/03/2011 - 12:36 | Link to Comment JR
JR's picture

Never mind, of course, that Americans built those universities for their children’s futures. American students – A and B students and many late achievers - more and more are being refused universities of their choice because they are made to compete on a worldwide basis with a handpicked elite of foreign students selected from billions and billions of the world's population. Our university presidents circle the globe seeking out these students, then fall over backwards to enroll them. How can any nation's students compete on such a basis; it is mathematically impossible. This is not what our forefathers intended for America's higher education system.

Fred Smith, the founder of FedEx who built it into a mammoth worldwide delivery juggernaut  was  the “usual C student” at Yale. Both Steve Jobs and Bill Gates were college dropouts.

http://www.businessweek.com/magazine/content/04_38/b3900032_mz072.htm

An SAT score does not a nation make. Nations and the governments that operate them are formed by citizens who desire protection of their property and futures. In America this plan has been severely derailed by rulers who would govern the country, not for its citizens, but for themselves.

Sat, 12/03/2011 - 14:56 | Link to Comment smiler03
smiler03's picture

@ e-recep & JR

 

I agree completely with you both. It seems grossly unfair that American students are being given lower priority than foreign students to attend the creme de la creme of US universities.

This interesting BBC story relates to this discrimination: http://www.bbc.co.uk/news/business-15963688   

Sat, 12/03/2011 - 00:11 | Link to Comment fuu
fuu's picture

That second chart has the most pathetic little dead cat bounce.

Sat, 12/03/2011 - 00:14 | Link to Comment bill1102inf
bill1102inf's picture

During Obamas 2nd term, he will default the entire country, and so will all people of all bills nationwide.  The great reset is coming folks, plan accordingly.

 

Well, that, AND all the land 'owned' that is not developed will be taken away from the so called 'owners' and resold by the state.

Sat, 12/03/2011 - 00:15 | Link to Comment q99x2
q99x2's picture

The Twelve Steps of Banker's Anonymous

1. We admitted we were powerless over printing - that it made everyone's lives unmanageable.

2. Came to believe that a Power greater than ours could restore us to sanity.

3. Made a decision to turn our will and our lives over to the care of citizens as we understood them.

4. Made a searching and fearless moral inventory of ourselves.

5. Admitted to the public, to ourselves, and to another human being the exact nature of our wrongs.

6. Were entirely ready to have citizens remove all of these defects of character.

7. Humbly asked Governments to remove our shortcomings.

8. Made a list of all persons we had harmed, and became willing to make amends to them all.

9. Made direct amends to such people wherever possible, except when to do so would injure them or others.

10. Continued to take personal inventory and when we were wrong promptly admitted it.

11. Sought through prayer and meditation to improve our conscious contact with citizens as we understood them, praying only for knowledge of their will for us and the power to carry that out.

12. Having had a spiritual awakening as the result of these steps, we tried to carry this message to bankers, and to practice these principles in all our affairs.

It works if you work it!

Sat, 12/03/2011 - 00:16 | Link to Comment DocinPA
DocinPA's picture

Well, I for one am going to be getting to work trying change this crap.  I just got myself onto the local school board and there will be no tax increases on my watch.  I will not go down without a fight.  Fuck 'em all. 

Sat, 12/03/2011 - 00:19 | Link to Comment Real Estate Geek
Real Estate Geek's picture

But . . . but . . . it's for the children!

Sat, 12/03/2011 - 00:25 | Link to Comment Maximilien Robe...
Maximilien Robespierre's picture

Learn to garden, learn to defend yourself, learn how to do business without fiat currencies.

School Board?  Honorable ambition, but you're about 100 years too late at this point.   Your goal requires a citizenry where the majority actually is attempting to evolve.  

Defend your bloodlines at this juncture.

Sat, 12/03/2011 - 11:25 | Link to Comment Calmyourself
Calmyourself's picture

Good for you!  If some of the know it alls on this board would run for city council, county commission any elected office at all we could at least locally inculcate over time a more positive free market attitude.

Sat, 12/03/2011 - 00:30 | Link to Comment holdbuysell
holdbuysell's picture

Excellent set of articles. Thanks for posting.

Sat, 12/03/2011 - 00:31 | Link to Comment Pancho Villa
Pancho Villa's picture

The US now seems to be two countries: a developed country and a third world country which both occupy the same territory. But the population of the third world part is increasing faster than the developed one.

Sat, 12/03/2011 - 00:38 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Big Squeeze

or

The Final Push

The Illuminatti had it planned long ago*

*see Big Duke above

Sat, 12/03/2011 - 00:51 | Link to Comment GMadScientist
GMadScientist's picture

Wow...between 1950 and 2010...we went from 28% to 34% with zero tax liability. Skyrocketing!

Sat, 12/03/2011 - 00:54 | Link to Comment non_anon
non_anon's picture

poverty is the parent of revolution and crime

__ Aristotle

Sat, 12/03/2011 - 01:42 | Link to Comment Kinskian
Kinskian's picture

So is LaQueesha over at da Motel 6...

http://www.youtube.com/watch?v=bavou_SEj1E

Sat, 12/03/2011 - 05:16 | Link to Comment Normalcy Bias
Normalcy Bias's picture

They should rip it's uterus out, and put the chilrens into foster homes...

Sat, 12/03/2011 - 13:58 | Link to Comment Kali
Kali's picture

And castrate the fathers

Sat, 12/03/2011 - 23:59 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Bunch of rascists.  Is your Confederate flag flying in front of your mobile home tonight? 

Sun, 12/04/2011 - 10:12 | Link to Comment Normalcy Bias
Normalcy Bias's picture

Yes, we're racists because we're disgusted with what this woman is doing to her own children, and ultimately to society. Nice pavlovian stereotypic response there, Ned. For the record, there are no trailers around where I live, and if you knew where I actually was, it would ruin your day...

Sat, 12/03/2011 - 10:48 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

One of the boys will end up being an NFL All-Pro and ESPN will make a movie about his triumph.  The other 11?  Not so much.

Sat, 12/03/2011 - 11:11 | Link to Comment Normalcy Bias
Normalcy Bias's picture

Over 8 go to Prison   -105

Under 8 go to Prison  -105

Sat, 12/03/2011 - 09:59 | Link to Comment trav7777
trav7777's picture

Aristotle was wrong.

Crime causes poverty, not the converse.

To be more accurate, the innate traits that lead people to be criminal also prejudice them against acquisition of significant wealth, especially if the crime is violent.

Sat, 12/03/2011 - 11:25 | Link to Comment tmosley
tmosley's picture

Hmm, so the Germanic people were poor for thousands of years, therefore, poverty is innate among Germans?  As were the Irish, the Normans, the Rus, the Slavs, and every other tribe that didn't crawl out of the primordial ooze and immediately set about building great cities?

Your ape-brain would make a good specimen for study.

Sat, 12/03/2011 - 15:18 | Link to Comment trav7777
trav7777's picture

Do you understand how natural selection works, you IDIOT?

Sorry, yes, I already know the answer to that question.

At any rate, the germanic tribes were substantiall more advanced than you give them credit for, as were the norse.  They actually had mechanical devices, the wheel, and the written word, unlike africans, and unlike mesoamericans.

Put that ancient history in your bong and smoke it, fagboy

Sat, 12/03/2011 - 11:26 | Link to Comment ItsEvolutionBaby
ItsEvolutionBaby's picture

Trav, have you read John Bryant's work?

Sat, 12/03/2011 - 14:33 | Link to Comment FeralSerf
FeralSerf's picture

The Kazars used to be poor criminals.  Now many of them, (Hank, Jamie and Lloyd come to mind), are rich, prosperous pillars of the community.  How does that compute according to your theory of crime and poverty.

Sat, 12/03/2011 - 15:19 | Link to Comment trav7777
trav7777's picture

do I need my own Q&A website with live chat?  WTF, I can't keep up with all of you people.

All crime is not the same; fraud is qualitatively different from robbery

Sat, 12/03/2011 - 18:02 | Link to Comment Green Leader
Sat, 12/03/2011 - 01:02 | Link to Comment dwdollar
dwdollar's picture

Large portions of the country are 2nd and 3rd world status already, so it's really not surprising. What's surprising is how long it's taking.

Sat, 12/03/2011 - 01:02 | Link to Comment linrom
linrom's picture

Another financial service worker disseminates his disingenuous elite propaganda piece about how futile it's to tax the rich.  In another story, Deloitte and Touche estimates that global elites can parlay their wealth to $120 Trillion by 2020, no I am not making this up.

The thing that was unique to 3rd world countries in contrast to formerly developed nations such as US and Europe more so than anything else was systemic corruption of its tax collection bodies. In that sense both Europe and US now are not much different than other 3rd world banana republics. Debt is run up in order to pay interest rates to the elites by means of deficit spending: the social safety net programs are funded by borrowing from the rich who merely lend the money that governments should be collecting in taxes from them.

The final ruse is to impose austerity, that is, reneging on the social programs by telling the public a lie that we can't afford it. The rich want to have their cake and eat it!

The US form 1930s -1950s funded its massive spending by issuing debt, paying interest rates and then taxing the elites 90% to pay for it all.

Sat, 12/03/2011 - 23:56 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

There's no question it is time to surtax the American super-rich - they've gotten off cheap for far too long, and their engorged prosperity has largely been funded and subsidized by the U.S. taxpayer - just ask any TBTF banker or military contractor.   It's really a joke that this is even a debate. You need to pay your fair share. 

Sat, 12/03/2011 - 01:09 | Link to Comment bob_dabolina
bob_dabolina's picture

Obama just gave schools the ok to use race in admissions to aid in diversity.

http://online.wsj.com/article/SB10001424052970204397704577074720764017192.html

Put that in your bong and smoke it.

 

Sat, 12/03/2011 - 01:16 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They've used race since equal rights. 

Sat, 12/03/2011 - 01:34 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Poorly

Should I eleborate about how blacs were fucked because they were enslaved and then add how sharecropping made their situation worse, and how racism kept everyone in the dirt while rich fuckers in NYC began to create the Military Complex, financed DC, and thus kept their boot on the poors face?

There is no answer to solving the poor problem, if it is poor whites or poor blacks.  Not reperations, not equal rights.  What needs to happen is America as a whole needs to take the financial system back from the Corporations, the Major Banking Houses, and remake the American system.  Then blacks will have an opportunity.  Then poor whites will have an opportunity.  Not before then.

Sat, 12/03/2011 - 01:37 | Link to Comment bob_dabolina
bob_dabolina's picture

What's Africas excuse?

Sat, 12/03/2011 - 01:43 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The IMF

Sat, 12/03/2011 - 01:53 | Link to Comment bob_dabolina
bob_dabolina's picture

Oh please. 

Look at Zimbabwe-

Not many people realize this but Zimbabwe is a relatively new country as of 1979. It actually used to be called Rhodesia and it was governed by a primarily white government. Wouldn't yah know that at one point Rhodesia had a pretty good economy led primarily by agriculture. However, a fellow by the name of Mugabe decided to kick all the white people out. Well, we know how Zimbabwe is doing (94% unemployment rate)

The highest concentration of white people in Africa is in Southern Africa. Would you care to guess which part of Africa is on the most stable footing? 

 

Sat, 12/03/2011 - 02:02 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Bell Curve was debunked long ago. 

And if you are not familiar with how the Africonners ran South Africa then you should read a book.  Blacks have no rights, and South Africa has produced more gold and diamonds than anywhere over the last few hundred years, giving the whites unimaginable wealth.  In fact, the wealth gap should make you shudder.

Oh, and I forgot to mention.....

What's Africa's excuse?

Gunpowder, mon.

Sat, 12/03/2011 - 02:20 | Link to Comment bob_dabolina
bob_dabolina's picture

To your first point if Africans are the biggest producer of gold and diamonds then they should have wealth. They don't because they're not smart enough to create a productive economy. All I know is that if I look anywhere in the world where the population is mostly black I see: i. high unemployment, ii. lots of disease, iii. lots of violence, and lots of poverty. It's not exclusive to any one area, it is literally ANYWHERE in the world. I'm not being racist, I'm simply stating a truthful observation. 

To your second point. The Chinese figured out gun powder, the Europeans got it, why haven't the Africans gotten it yet? It's not like it's a new invention. If you look at most modern advancement they have come from European bloodlines...flight, rocketry, splitting of the atom, space flight, T.V, phones, cars, the internet, assembly line, computers, etc, etc. How many blacks work at CERN? or NASA? There has to be a reason other then racism.

Sat, 12/03/2011 - 03:32 | Link to Comment tmosley
tmosley's picture

Funny, 4th generation Africans in Britain and Europe seem to be doing well enough, or as well as you can expect from Eurotrash.

Certainly culture has nothing to do with the disposition of a group of people.  Fate is dictated from the start by genetics.

Sat, 12/03/2011 - 03:54 | Link to Comment dolph9
dolph9's picture

Right, but what is "culture?"  Culture itself is a human creation, it doesn't fall down magically from the sky.  Culture is a creation of humans and thereby is reflective of the humans who create it.

Mind you, humans can adapt and switch cultures, but generally you can't separate culture from the actual humans who are producing that culture.

Sat, 12/03/2011 - 10:14 | Link to Comment trav7777
trav7777's picture

yes and they do transracial adoptions studies.

The MSMbugs don't know anything about these, because, well...they never appeared on the MSM.  They have situations where kids are adopted by parents of other races, and they can do average IQ studies against mixed-race kids, full-raced, etc., comparing to adopted siblings.

These show biology dominates.  And, what's more, mixed race kids tend to an AVERAGE of their parent populations.  Right split down the fuckin middle.  Even kids who thought they had 2 black parents tended toward the biological reality.

But, again, this is all crap because the MSM doesn't spout it.  They spout that there is no such thing as race; I hear that all the time on TV, that diversity is good, and that anyone who doesn't agree is a RAYCISS.

I side with the MSM because, as we know, they CONSTANTLY TELL THE TRUTH about everything.  And even if you show me that they are LYING and PROPAGANDIZING on EVERYTHING ELSE, in this one particular meme, they simply MUST be telling the truth.

Sat, 12/03/2011 - 12:37 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Appreal to un-authority

Fallacy

You want to point out some of these studies?

This is just the most rediculous shit.  You sound like David Rockefeller, and his Darwinian buddies, you know that?

What about SAT scores from poor white neighborhoods?  I bet they are steller!!!!

Sat, 12/03/2011 - 15:24 | Link to Comment trav7777
trav7777's picture

go fuckin read that link to Watson's statements about race/IQ/Africans.

there are only like, dunno...50 fucking THOUSAND transracial adoption studies.

Poor white kids?  They SCORE BETTER THAN RICH BLACKS.

For the life of me, I really do marvel at how people like you can be so fucking ignorant.  If I were confronted with a thesis I didn't believe, I would go out and google something like "sat black white income" just to see what popped up.  And when I did that I would start to see linked references to exactly these studies.  They're hiding in PLAIN SIGHT.

Perhaps I am the only fucking person on the planet who knows how to use a search engine properly?  Or are you so arrogant and afflicted with Downing that you figured that if this shit were true you'd have known it?  I have some good news and bad news for you man.  First, the bad news, you're nowhere NEAR as smart or knowledgeable as you think yourself to be.  The good news, the latter half of that is curable...you CAN get educated.

Appeal to authority is when you appeal to someone who has no authority on the subject but who is authority elsewhere.  Like EINSTEIN says I should get up early and go to bed early. 

I honestly crack up that you think you can even tread water in an argument with me, man...LOL

Sat, 12/03/2011 - 10:31 | Link to Comment trav7777
trav7777's picture

"Funny, 4th generation Africans in Britain and Europe seem to be doing well enough, or as well as you can expect from Eurotrash."

If by well you mean underperforming much poorer white kids on standardized tests, then you are correct.

Blacks in families earning more than $70k trail whites from families earning less than $10k.

The B/W SAT gap is 140 in the US and any test they do in Europe or the UK will show the same disparity.

oh, and the blacks in the UK dramatically overcommit crime there as well.  And in France.  And in everywhere. 

 

 

Sat, 12/03/2011 - 12:03 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

South Africa was taken over by whites with guns and they forced Africans to be slaves and the slaves mined the gold and the whites took all of it.  What is so hard to understand about the history of slavery and the wealth gap it created?

Same with the US.  Do you know anything about cotton money?  The South is sitting on billions of old money that was made from slaves and sharecroppers.

Sat, 12/03/2011 - 12:15 | Link to Comment bob_dabolina
bob_dabolina's picture

Everything is the white mans fault

That's all I'm gona' get out of you.

Sat, 12/03/2011 - 12:30 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

No, you are right, blacks have small brains and none of them are inteligent.  The White man is all knowing, and peaceful.  They didn't enslave Africa because they had gunpowder.  They didn't come up with the banking system and use it to start and control the third world.

My point is, it is not a black or white issue, it is a culture issue.  If your parents were racist, you will likely be racist.  If your parents beat you, you will likely beat your kids.  It s not always like this, but most of the time it is.

There is no difference in brain size, thus why some blacks are and have been smarter than you could even imagine.  But when you enslave a race of people and keep your boot on their throat, it is hard for them to get some respect. 

You deny that Africa was not enslaved?  You deny that whites did not have guns first?  You deny they used slave to create wealth by picking cotton?  Mining gold?  Do you understand that if you pay a low wage your profit margin is high?  Slavery is the underpinning of socio-economics for the last thousand years, and here you are on ZERO HEDGE DEFENDING IT!

Bernanke thanks you, Bob

Sat, 12/03/2011 - 15:31 | Link to Comment trav7777
trav7777's picture

can you POSSIBLY make more logical fallacies in one post?  Are you going for the record?

Blacks do possess smaller brains on average.  This does not imply that none of them are intelligent.

If you actually think there is no difference in brain size, then you are insanely ignorant.  Seriously.  Might wanna try doing some RESEARCH before stating your opinion goin' forward dood.

Africa was NOT enslaved.  Slave labor was NEVER a factor.  Machinery does 1000000000x the labor of slaves.  Hell, even Irish do and they're cheaper.

Mining gold...you kinda understand this doesn't grow on bushes like cotton, right?  I mean, you have like turned on some stuff like Gold Rush and you understand that ore concentrations in .25 oz/ton of rock is considered spectacular...

Sat, 12/03/2011 - 15:29 | Link to Comment trav7777
trav7777's picture

wow, really?

Fuck, I had NO IDEA that they made those africans dig down 13000 feet to get at some of that gold. 

Also, no clue that those GIGANTIC PIT MINES in RSA were all dug out by African slaves.  Those mines and refineries really looked machine worked and whatnot man, like industrial mines.  And I saw a show on Modern Marvels about the history of open pit mining in the Bushveld and fuck I could SWEAR I was seeing machinery there, not a white guy with a whip and a bunch of africans digging.  I clearly recall large dumptrucks, dragline stuff, loaders, dynamite, etc.  I must have been hallucinating.  Thanks for setting me straight with your capsule summary of whiteness.

Dude...piece of advice.  Shut the fuck up.

Sat, 12/03/2011 - 09:13 | Link to Comment GMadScientist
GMadScientist's picture

What can we say. The Belgians, French, Spanish, English, and Dutch had other ideas.

You're good at noticing the state of affairs, but piss-poor at diagnosing how and why they got there.

The Africans do have it, shitwit...what do you think the majority of the violence consists of? Can you think of a better way for an occupying power to knee-cap a populace than to keep them well-armed and fighting each other while colonials make off with their natural resources?

http://inventors.about.com/b/2010/02/12/african-american-inventors-at-nasa.htm

As for CERN, I doubt they recognize species much less race as long as you can keep the accelerators accelerating.

 

Sat, 12/03/2011 - 10:18 | Link to Comment trav7777
trav7777's picture

2 fucking people? 

So your ANSWER for why africa is so fucked up is that it's WHITEY's fault?  BWAHAHAHAHAHAHAHA

So PRIOR to intermixing, whose fault was it then?  Before whitey sailed to africa and found people living in huts and lacking things like writing and the wheel...who is to blame?

Whitey must be awful goddamned powerful to be able to control the black man's brain like that with his remote control make 'em fight technology.

Also, I find it curious that the indigenous peoples never regarded those "resources" miles down in the earth as at all useful.  I mean, certainly not useful enough to have DEVELOPED THEMSELVES.

Sat, 12/03/2011 - 11:31 | Link to Comment tmosley
tmosley's picture

It is the fault of the governments and their assertion of power over individuals.  Governments in Africa have been either exploitative whites or exploitative blacks.  There has never been a period where there was a SMALL government that protected property rights in Africa.  Well, except for those times when great civilizations rose up there.

What the fuck makes you think that people who have to look over their back to make sure they aren't going to be slashed with machetes by religious fanatics is going to be able to develop the capital required to mine gold a half mile beneath the surface?

But that's your problem, you don't think.

Sat, 12/03/2011 - 15:35 | Link to Comment trav7777
trav7777's picture

you are the stupidest fucking person I have ever met.  Thank you for this.

In the period before governments and writing, it was the fault of overbearing governments and lemme guess...socialism?

Africa's problem is lack of IQ and consequent lack of civilization. Period.  Not that their socialist governments during the middle ages were too oppressive and didn't protect fucking property rights.  THEY DIDN'T HAVE GOVERNMENTS or even what we whiteys would think of as SOCIETY.

That is the fucking PUNCHLINE of the portuguese "discovery."

do you EVEN GRASP that this notion of what YOU THINK OF as property rights is not some UNIVERSAL fucking HERITAGE?

I get your thesis now and I must say that it is perhaps the most idiotic thing I've ever heard.

Sat, 12/03/2011 - 12:06 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

First there is Egypt to point to as an African city that was much more bad ass than any European City State to come after it.  Also there were many great city states in Africa's interior all through time.  Read a book.

Sat, 12/03/2011 - 12:18 | Link to Comment bob_dabolina
bob_dabolina's picture

Egypt was something because it had Jewish slaves that were probably of higher intellect than their masters. How's egypt doing today?

Sat, 12/03/2011 - 12:23 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You believe the Jews were the slaves?  The Jews were the priest class during the time of Akhenaten.  They started the whole "One True God" mantra.  The slaves were the people who lived on the Nile. 

How's Egypt doing today?  Well after being pillaged by Rome and the rest of Christianity for the last couple thousand years....

Sat, 12/03/2011 - 15:36 | Link to Comment trav7777
trav7777's picture

egypt wasn't black and I believe that it was a country, not a city.

Look man, if you cannot get the easy questions right, you have no business taking this test.  You're going to fail miserably.  Bow out and STFU and just watch.

there were no great civilizations in subsaharan africa.  The Mali empire is about it.

Sat, 12/03/2011 - 15:55 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Oh, my apologies,

...the City-States of Egypt.

Hey, and thanks for the insults.  I think you are ignorant on this subject.  I think you are citing weird studies, like the Bell Curve.  I want to know how a black brain, usually idiotic, can sometimes be as powerful as an Asian brian.

There has been so many black scientists, inventors, musicians, Doctors, etc, that prove your "studies" are wrong.  There is no difference in the gene codes of humans.  We are all human.  Ethnicity does not equal race.

And if you think I am throwing fallacies read your posts.

Uncited "studies".

Ad hom.

Etc

Sat, 12/03/2011 - 18:35 | Link to Comment trav7777
trav7777's picture

There haven't been that many black scientists OR inventors.

The only credible black invention is the super soaker, though I do believe that Percy Julian at DuPont was instrumental in synthesizing steroids.

You DO understand how a distribution curve looks right?

How is it POSSIBLE if MEN are TALLER THAN WOMEN, that a WOMAN could be taller than a man?

Note:  one is a GENERAL statement, which is true.  The other is a SPECIFIC statement, can also be true.

Exceptions DO NOT DISPROVE THE RULE, MORON.

Men are still taller on average than women!

As for the rest of it, do you own fucking research.  It took me all of 5 seconds to find the TRUTH of the disparity between white and black SAT scores across various income spectra.  Like i said, it's hiding in plain sight.

You have to be WILFULLY obtuse not to get it by now.

Sat, 12/03/2011 - 10:02 | Link to Comment trav7777
trav7777's picture

um...Bell Curve was not debunked.  Unless by debunked, you mean agreed with by every psychometric study ever done. 

Black SAT scores from $70k families are lower than the poorest whites. 

Sat, 12/03/2011 - 12:07 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Bell Curve wasn't debunked?

Oh good lord Trav.....

Sat, 12/03/2011 - 15:38 | Link to Comment trav7777
trav7777's picture

if by debunked you mean that every single psychometric study has shown EXACTLY THE SAME THING, then yes, it has been debunked.

I think perhaps we have wildly different definitions of debunked here.  Assuming that you think debunked means what it actually means instead of "totally corroborated," i'd be interested to hear a couple of things, the first is how you could be so stupid as to think BC got debunked, and how stupid were the people who told you that.

Sat, 12/03/2011 - 03:29 | Link to Comment tmosley
tmosley's picture

Yes, success is dictated 100% by skin color.  This is why albinos consistantly score in the absolute highest percentile in any and all achievment tests.

Absolutely nothing to do with government policy, ie protection of property rights (as under Western control), and total abbrigation of them (under crazy african dictator control).

No idea why Asian countries vary so much in prosperity.  No fucking niggers there to fuck shit up.  Only differences in government intrusivness.  Maybe those dumb niggers send nigger rays over to Asia, but some countries are just out of range.  

Sat, 12/03/2011 - 03:50 | Link to Comment dolph9
dolph9's picture

Actually one of the reasons Asia has risen in wealth is because they don't have niggers and don't give aid to niggers.  China just wants Africa's resources, they are smart enough not to poor any money down the drain of "development."

America, on the other hand - we do everything we can to help niggers, and all we get is crime and broken neighborhoods and bankruptcy as a result.

Sat, 12/03/2011 - 09:16 | Link to Comment GMadScientist
GMadScientist's picture

Yeah, I'm sure the Nigerians feel really "overdeveloped" and can't wait to thank Shell for their overflowing generosity.

How much do you think has been spent on "development" in Africa? (guns for kids don't count, BTW)

 

Sat, 12/03/2011 - 10:24 | Link to Comment trav7777
trav7777's picture

who spent it here?

WE DID.  WHY THE FUCK is it OUR responsibility to spend money on developing AFRICA?  Why can't AFRICANS DEVELOP AFRICA?

Nigeria takes an ASSLOAD of oil money.  Shell no more raped them than they did Saudi Arabia or any of a number of OTHER major oil producers.

The bottom line is that Africa's only value to Africans was a place to stand, sleep, and shit on.  Only WHITEY saw the "resources" that you claim were stolen.  Whitey has since OPPRESSED the fuck out of Africa with his electric power, refrigeration, and modern medicine. 

Africans had no use whatsoever for oil before whitey.

Sat, 12/03/2011 - 10:21 | Link to Comment trav7777
trav7777's picture

wow, this is an absolute CORNUCOPIA of logical fallacy.

You beg the question right out of the gate, MORON, when you ASSERT that race is EQUAL to skin color and no more, then try to use this to circularly prove your conclusion.

That's the POINT, RETARD...race is much MORE than skin color.  Albino africans do as well as colored africans.  That is because skin color is but ONE superficial component of race.

As far as whites being at the top...they're NOT.  This is another thing you made up.  East asians outaverage whites.

You think government intrusiveness is the result of asian prosperity differentials?  LOL.

DEMONSTRATE that with some evidence. Why don't you show us a plot comparing intrusiveness to prosperity? 

You are one of the world's TRUE DUMBSHITS.

Sat, 12/03/2011 - 12:14 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It's not race, it is culture.  This is a generalization, but it is accurate for now: 

Poor people have low IQ/SAT scores.  Poor people are ill mannered.  Poor people end up in prison.  It is not white/black/Asian/etc, it is poor people.  Because poor people do not have access to good education, and their families don't really care to try.

It is a vicous cycle, one that the US GOV perpetuates.  And with respect to blacks, they were brought over here, enslaved, then turned over as sharecroppers, and they had no chance for upward mobility until last century, when whitey started the war on drugs, and this and that.  Blacks have never had a chance, and it was their culture that makes them poor, not their brains.

Take a look at the black panthers.  They took ahold of their culture and instantly turned around the ghetto.  But the FBI wasn't having that, so the leaders of that movement were killed.

Tell me Jimi isn't the greatest guitarist ever?  Tell me that?  To think, a black man could compare to your white man.  And many blacks have been important scientists and MDs, writers, etc. 

Trav, it isn't about brain size, it is about opportunity.  Blacks have never had an opportunity.

Sat, 12/03/2011 - 12:29 | Link to Comment bob_dabolina
bob_dabolina's picture

Never seen Jimi play anything taking this kind of skill.

http://www.youtube.com/watch?v=C3loMJQJBBE

Tim Reynolds also plays piano, sitar, drums, violin, bass, solo djembe, and harp

Sat, 12/03/2011 - 12:32 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I bet if you asked Tim, he would tell you that black people are just as talented as white people.

Sat, 12/03/2011 - 15:42 | Link to Comment trav7777
trav7777's picture

Poor people have lower IQ/SAT than rich...why wouldn't they?

Would you expect idiots to get rich and then have smart offspring?  That's not how natural selection works.

But while I'm up, poor whites outscore rich blacks.  This is a simple fact, one you can prove within 30 seconds of reading it.  Blacks are much more frequently poor and in prison.  they much more frequently commit crime than asians.  Stupid IS AS STUPID DOES.

There was no ghetto turnaround by the BP and no FBI/illuminati conspiracy to kill it.

Jimi Hendrix?  WTF?

There haven't been many important black scientists.  I can think of maybe one, Percy Julian.  Maybe there's one or two more but that's about it.

The rest of your shit...opportunity...FROM WHOM?  WHO GAVE THE WHITE MAN HIS OPPORTUNITY TO DO FUCKING ANYTHING?

You MAKE opportunities.  You're nothing but a hollow apologist for failure, dude.  STFU and get your ass educated, FFS

Sat, 12/03/2011 - 09:52 | Link to Comment Green Leader
Green Leader's picture

The average brain of an Adamic man weighs some 120 grams more than a negro's.

That difference is mostly concentrated in the forehead (frontal lobe).

 

Sat, 12/03/2011 - 12:16 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

WHile we are at it let's start writing about how we are all half lizard people and other crazy shit.

Sat, 12/03/2011 - 10:08 | Link to Comment trav7777
trav7777's picture

you're talking shit from 150 years ago?

how the fuck did the Irish who came here in the aftermath of the Famine manage?  How about every other ethnic group?

Poor whites and blacks already have opportunity.  Idiot, we bend over BACKWARDS to give blacks EVERY advantage.  Whether it is racial set-asides, welfare/TANF, affirmative action, what the hell planet are you on where you think they don't have opportunity?  If you can fucking READ and are black you basically have your ticket punched.  Look at fucking OBAMA.

JFC we have a BLACK fucking President and you are still acting as if it is 1850 because blacks are STILL testing -140 SAT points to whites?  There's only one PLAUSIBLE conclusion to these sets of facts, dude.  And it's sitting on your mental 3rd rail.

Sat, 12/03/2011 - 11:01 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

The Irish in Ireland, "Europe's niggers", were as "intelligent" as Africans in the 19th century.  The reasons were they lived a rural lifestyle and were horribly oppressed by the British.  When the Irish came to America, over a couple of generations they moved up to typical standards for whites.

Over the last generation USA has tried various things to move Afro-Americans up.  None of it has worked.  Except for cross-breeding, where the resulting children are automatically labeled "black".

Still there is a percentage of blacks that can compete with a percentage of whites, so don't assume the average performance for every individual white or black.

Sat, 12/03/2011 - 11:34 | Link to Comment tmosley
tmosley's picture

Implying that being on the receiveng end of socialism doesn't decrease IQs, as can be seen in every population where it has ever been tried.

Implying that Trav is a retard.

Sat, 12/03/2011 - 15:44 | Link to Comment trav7777
trav7777's picture

Germany, Norway, Iceland, Finland, Sweden...IQ of whites there continues to climb.

Same as here...Flynn Effect.  IQs of the socialism inflicted populations HAVE GONE UP.

You confuse this with socioeconomic ranking, which doesn't surprise me, simply because you're a muthafuckin idiot.

Sat, 12/03/2011 - 12:20 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Native Americans gave the Irish money to come here.

We have not given them any chances.  Welfare perpetuates the system, that is why we should end it.  It makes people lazy and complacent.

Obama was a puppet put into office, chosen long ago.

So why can some blacks outperform whites? 

Riddle me that

Sat, 12/03/2011 - 12:56 | Link to Comment Green Leader
Green Leader's picture

Maybe this is the answer you have been looking for:

http://therealrevo.com/blog/?p=57506

 

 

 

 

Sat, 12/03/2011 - 13:02 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Sum it up for me

Sat, 12/03/2011 - 15:45 | Link to Comment trav7777
trav7777's picture

oh I get it now!

You are too stupid to understand that a TRUE generalization like men are taller than women on average DOES NOT MEAN that ALL men are taller than ALL women?

Got it. Henceforth I shall ignore everything you say because you are functionally retarded.

Sat, 12/03/2011 - 15:59 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So then some white brains are smaller than black brains, but on average....

Where are your studies Trav.

Pull some evidence.

You insult me, but show no proof.

Show us something Trav!

Sat, 12/03/2011 - 18:43 | Link to Comment trav7777
trav7777's picture

the entire internet is out there waiting for you.

if you want books, IQ and the Wealth of Nations is a good place to start.  So is Bing or Google.

I'm not going to do your legwork for you.

If you are feeling sassy, HERE IS YOUR CHANCE to slay the dragon that is Trav7777.  Many have tried. 

See...it is enough that I say a thing.  You will learn as others before you have that I do not lie.  I don't need to cite my statements; I am not you.  I am the expert.  If I say it, it is true.  And I fucking CHALLENGE you to go out there, find some shit and prove me wrong.  Here's your chance to show me up bigtime, dood.

Do it.  Dare ya.

What's going to happen here, just so you know, is that you're going to run out with sound and fury and discover...that I am entirely correct and that no statement of fact I have averred has been false.  As I said, others, far smarter than you have tried this before.  This isn't my first time around the block in an open forum with people who are above the Yahoo! msg boards IQ level.

In fact, this is exactly how I win arguments.  I am not here to convince some imaginary audience that I am correct, I am here to convince you.  The ONLY WAY that will happen is for you to get pissed off enough to try to prove me wrong and you will stampede yourself right into my trap...which just happens to be the TRUTH and is where I want you to go.  Free your mind and the rest will follow

Sat, 12/03/2011 - 01:26 | Link to Comment JR
JR's picture

Some say Obama’s campaign for re-election will be based on class distinctions, i.e., appeals to the factory workers as opposed to the factory owners. But the tragedy of the Obama Administration’s position not only in the re-election campaign but in overall policy matters is that it is an appeal to racism.

A November 28 news article by the U.K. Daily Mail, “Obama campaign abandons white working-class voters in favor of minorities and the educated,” states: “President Barack Obama's 2012 re-election campaign will be the first in modern political history to abandon white working-class voters…

“Instead, as two Democratic strategists lay out, the president's 2012 re-election campaign will likely rely on winning over new 'young people, Hispanics, unmarried women and affluent suburbanites.'”

The article quotes an opinion piece in the New York Times by longtime political reporter Thomas Edsall: “All pretense of trying to win a majority of the white working class has been effectively jettisoned in favor of cementing a center-left coalition made up, on the one hand, of voters who have gotten ahead on the basis of educational attainment... professors, artists, designers, editors, human resources managers, lawyers, librarians, social workers, teachers and therapists — and a second, substantial constituency of lower-income voters who are disproportionately African-American and Hispanic,”— (November 27, 2011 New York Times Op-Ed section article by Thomas B. Edsall)

Read more: http://www.dailymail.co.uk/news/article-2067223/President-Obamas-2012-campaign-abandons-white-working-class-voters-favor-minorities-educated.html#ixzz1f2sTMDIA

Sat, 12/03/2011 - 01:33 | Link to Comment non_anon
non_anon's picture

since the Debt Bro, O, is taking another vacation, this time Hawaii. I would rather put Maui Wowie in my bong and bogart the goodness!

Sat, 12/03/2011 - 01:36 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I bet Obama sprinkles snow on his rips.  What a drugged out psycho our POTUS is.

Sat, 12/03/2011 - 01:55 | Link to Comment Sofa King
Sofa King's picture

Support for Affermitive Action from our first Affermitive Action President (full credit to G. Lira)

Sat, 12/03/2011 - 10:05 | Link to Comment trav7777
trav7777's picture

diversity accomplishes NONE of the things that it is credited for by the MSM.

In fact it is more accurate to say that the OPPOSITE is true.  EVERY SINGLE STUDY of diversity versus homogeneity shows that diversity leads to strife and trouble.

But that's not the MSM's meme.  In fact, it's gotten so insane that the black studies dept. at one of these recent racial incident colleges where someone wrote "colored only" on a drinking fountain (no showing as to race of perp) claimed that WHITES benefitted from diversity through access to blacks.  Having blacks bused in who couldn't read and were violent improved their education....right.  With a straight face they said that whites were the ones who got the benefit of desegregation.

 

Sat, 12/03/2011 - 11:03 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

The USA has always used race to promote "domestic tranquility".  The tools change, but the basic formula and the goal never changes.

Sat, 12/03/2011 - 11:36 | Link to Comment tmosley
tmosley's picture

Really, so joining all of the European races into one nation would surely never work then, right?

Or are all Europeans the same, in which case a repeat of this in EUrope should work just as well as it did in America, right?

You are a failure at everything you do, because you don't think.  That's why your family left you.

Sat, 12/03/2011 - 15:47 | Link to Comment trav7777
trav7777's picture

Are you going for a new personal best of how many untrue statements you can pack into one post?

Sat, 12/03/2011 - 01:42 | Link to Comment Misean
Misean's picture

"All other things being equal, the U.S. will become a post industrial neo-3rd-world country..."

Will become?!?! Like, in the future?!?!

 

...by 2032."

No way man. We'll be an old-school third world country by then.

Sat, 12/03/2011 - 05:23 | Link to Comment Normalcy Bias
Normalcy Bias's picture

Agreed. To think that this kleptocratic-clusterfuk could even last that long is the height of optimism...

Sat, 12/03/2011 - 02:03 | Link to Comment yogibear
yogibear's picture

Detroit has started knocking down many of it's buildings. It's gong back to agriculture. Perhaps Chicago, Los Angeles and New York can follow once they start dying off.  This is when  real hoes ( Hoe a hand tool used in gardening) come into the urban areas.

Sat, 12/03/2011 - 02:28 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Ohio puts 200-pound third-grader in foster care 

 

Third world

Sat, 12/03/2011 - 02:33 | Link to Comment MobBarley
MobBarley's picture

Someone coined an important catch phrase here.

'Desert Nomad War Tribe'

Say it out loud.

'Desert Nomad War Tribe'

 

You'll be hearing it all over pretty soon.

 

Sat, 12/03/2011 - 03:33 | Link to Comment tmosley
tmosley's picture

What do the Massai have to do with anything?

Oh that's right, they destroy economies around the world with their blackness.

Sat, 12/03/2011 - 09:19 | Link to Comment GMadScientist
GMadScientist's picture

The (Masters of the Universe) Must Be Crazy!

Sat, 12/03/2011 - 15:50 | Link to Comment trav7777
trav7777's picture

ah, the Massai.  Funny you should mention them.

You should hear what these peaceloving, in tune with nature, noble savages say about elephants now that they have decided to take up agriculture.

Something about they're useless and we should kill all of them.  There used to be really big animals in the Americas, btw.

Sat, 12/03/2011 - 13:32 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I like it.  It sounds PC.

Sat, 12/03/2011 - 15:48 | Link to Comment trav7777
trav7777's picture

am I now the person whose name cannot be mentioned?

Sat, 12/03/2011 - 02:38 | Link to Comment Caviar Emptor
Caviar Emptor's picture

First Grader Accused of Sexual Harassement

http://tinyurl.com/849okvg

Sat, 12/03/2011 - 02:36 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Man who confessed to killing an Italian woman inside her East Harlem apartment claimed he was possessed 

 http://www.nydailynews.com/news/crime/ex-boyfriend-rita-morelli-italian-college-student-murdered-e-harlem-spell-killed-article-1.985666#ixzz1fS1LHdyY

Sat, 12/03/2011 - 10:34 | Link to Comment trav7777
trav7777's picture

good riddance to a mudshark

Sat, 12/03/2011 - 11:37 | Link to Comment tmosley
tmosley's picture

All who consort with Negroes shall be put to death.

-Decree #1 in Trav's ideal world

Sat, 12/03/2011 - 18:06 | Link to Comment trav7777
trav7777's picture

negroes appear to be handling that decree in this world already.

There's already an epidemic of racist violence by blacks

Sat, 12/03/2011 - 04:33 | Link to Comment caerus
caerus's picture

you never give me your money... you never give me your funny papers...

you never give me your money

Sat, 12/03/2011 - 16:20 | Link to Comment hooligan2009
hooligan2009's picture

and in the middle of negotiations...you skip town?

Sat, 12/03/2011 - 04:45 | Link to Comment caerus
caerus's picture

durate et vosmet rebus servate secundis 

bonam noctem

Sat, 12/03/2011 - 16:20 | Link to Comment hooligan2009
hooligan2009's picture

just dont carry on and preserve yourself for better times by leaving your savings in a bank or a 401k

Sat, 12/03/2011 - 05:19 | Link to Comment forrestdweller
forrestdweller's picture

interesting site with interesting pieces te read.

incredibly stupid comment.

this species is becoming more and more common; people with little knowledge and a lot of opinions.

Sat, 12/03/2011 - 06:23 | Link to Comment Dick Darlington
Dick Darlington's picture

OT:

Belgians stage mass protest against austerity measures http://www.france24.com/en/20111202-belgians-protesters-voice-anger-prop... 

 

Riot cam needs to be placed into Brussels too and I need more popcorn!

Sat, 12/03/2011 - 07:26 | Link to Comment The Alarmist
The Alarmist's picture

Have you ever seen the movie Brazil? Produced in 1985, you would be surprised how many of today's security measures were parodied as the tools of a bumbling future big-brother state .... A must see.

http://en.wikipedia.org/wiki/Brazil_(film)

 

Sat, 12/03/2011 - 09:50 | Link to Comment Flakmeister
Flakmeister's picture

Just be careful around the dentists...

Sat, 12/03/2011 - 13:36 | Link to Comment Barnaby
Barnaby's picture

That's why I'm always in such a good mood. Terry Gilliam gave me 26 years to prepare.

Sat, 12/03/2011 - 07:35 | Link to Comment pcrs
pcrs's picture

The strong rule of men who write the laws, is exactly the reason why lobbiest go to DC. If you do not realise that and ask for a stronger rule of law, you are just tightening the rope around your own neck.

Sat, 12/03/2011 - 08:50 | Link to Comment falak pema
falak pema's picture

THe Oligarchs have no country; they have possessions in many. 

Sat, 12/03/2011 - 10:04 | Link to Comment Dick Darlington
Dick Darlington's picture

Little Saturday humour. New gold coin in memory of Titanic. Could symbolise euro's demise in 2012 as well. ;-)

http://www.suomenmoneta.fi/pikkukultarahat?utm_source=SanomaOut&utm_medi...

Sat, 12/03/2011 - 10:51 | Link to Comment Frankie Cokeupt...
Frankie Cokeupthenozza's picture

After reading all this shit, I'm staying down in the Baja. Why come back?

Sat, 12/03/2011 - 11:32 | Link to Comment bob_dabolina
bob_dabolina's picture

The benefits of diversity?

Sat, 12/03/2011 - 11:33 | Link to Comment jekyll island
jekyll island's picture

Soooo, the US is going to become like a third world country?  What, just like Great Britain did when the Pound lost it's status as world reserve currency?  That's bullshit.  There will be pain and suffering, but the fearmongering pisses me off.  There will be widesweeping changes when the economy collapses, including the removal of all the politicians who were unwilling to address the problems.  IF the US comes out of the storm with a political and banking system like the one it had when TSHTF, AND a unbacked FIAT currency, then it deserves to be a third world country.  That is not gonna happen, but the whole system will have to break down before the population of US will be willing to accept the necessary change.  

Sat, 12/03/2011 - 11:40 | Link to Comment rambler6421
rambler6421's picture

Amerika is gonna turn into a 2nd world nation.  Anyways, physical silver bitchez!

 

libertarian86.blogspot.com

Sat, 12/03/2011 - 12:02 | Link to Comment BernankeHasHemo...
BernankeHasHemorrhoids's picture

The self-destruction of the US is a beautiful thing. Once they're a worthless Third World country maybe they'll mind their own business. The meth-addicted white trash population deserves to get ass -fucked in perpetuity by their Chinese masters. Bend over, bitchez!

Sat, 12/03/2011 - 12:10 | Link to Comment topcallingtroll
topcallingtroll's picture

I saw a comment that shows some of you do know that european countries dumped all their defectives on us in the 19 th century. That is why we finally instituted immigration regulations.

Insane asylums and jails were cleaned out in their entirety and shipped to the usa in the 19th century before we figured out what was going on.

It was the old fashioned version of "bus therapy" where we give someone a one way bus ticket after they leave the psych hospital because they are too much trouble and very costly to manage. If the guy says he wants to go to california we are ecstatic and gladly pay the bus ticket. It is a "voluntary" discharge plan. Lmfao!

If you read the arguments for regulating immigration it was for this very purpose, to keep out the defectives that european governments had been foisting on us.

Sat, 12/03/2011 - 13:38 | Link to Comment boiltherich
boiltherich's picture

How The U.S. Will Become a 3rd World Country

Dear Mr. Hera:

I notice you went to a lot of effort to back your points with charts and graphs, making several cogent arguments, and you put your reputation on the line trying to open peoples minds as to why you think the USA will become a third world nation.

You could have saved yourself the trouble simply posted a photo of Halle Barry and ask these caveman cretins to discuss her "rack."  In fact the best argument you could possibly have made for the failure of American civilization was made by the readers themselves, none of which had anything to do with all the work you went to, for their behavior I am sorry and embarrassed for them.  You would have sparked a more intelligent response from a high school football team.

Sat, 12/03/2011 - 13:44 | Link to Comment Barnaby
Barnaby's picture

Okay, let me break it down for you pessimists.

I live in Colorado. By many measures Colorado is the healthiest, thinnest state in this glorious Union. Still, we're 50% obese.

50 PERCENT OBESE. That means I, a thin, healthy, mixed-race entrepreneur, have 50% fewer viable competitors. These are truly the salad days, baby.

Finally, if it weren't for immigrants, I'd probably still be living in a teepee. So thanks, I guess?

Sat, 12/03/2011 - 14:49 | Link to Comment FeralSerf
FeralSerf's picture

We have met the immigrants and they are us?

Sat, 12/03/2011 - 15:08 | Link to Comment Peter K
Peter K's picture

The US will become a third world country by electing crypto communists, i.e. the DemoCommiNazi Party. It's that simple.

Sat, 12/03/2011 - 15:35 | Link to Comment Flakmeister
Flakmeister's picture

Must have slept during intro poli-sci eh? It is for all intents and purposes it is a third world country, mophing from fascism to full blown feudalism....

Try this little exercise, compare countries once you remove the top 0.5% of income on the following metrics

1) life expectancy

2) GDP  per capita

You will be amazed at where the US shows up....

Sat, 12/03/2011 - 18:08 | Link to Comment trav7777
trav7777's picture

useless excercise unless you do the same with the other countries

Sat, 12/03/2011 - 18:19 | Link to Comment Flakmeister
Flakmeister's picture

That was my point.... the top pulls things up in this country much more relative to other countries... think of a truncated mean algorithm...

Sat, 12/03/2011 - 18:46 | Link to Comment trav7777
trav7777's picture

stratification is worse in the 2nd world (obviously).

For example, Brazil has neighborhoods with HDIs on par with Scandinavia adjacent to those with HDIs on par with N. Africa.

Comparing us to European nations by subtracting out portions of our white population isn't particularly dispositive of anything.

Sat, 12/03/2011 - 23:49 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Peter K under the serious delusion that the Rethuglicans are any better for the average joe, or that they are any different in the end. Rethuglicans and Demoncrats are two sides of the same coin, heads or tails you are still screwed.  Puh-leze. 

Sun, 12/04/2011 - 06:31 | Link to Comment Peter K
Peter K's picture

Definately not delusional. And not a cynic either. But observing the political landscape since 1968, it is pretty obvious that the Democrats have a lot more in common with the Soviet and Socialist states of Europe than with any Jeffersionian or Hamiltonian tradition. And this evolution is actually quite disturbing. If you want to see it for yourself, just go on YouTube and write in "Van Jones" or "Jan Schakalsky" just to name a couple:)

Sat, 12/03/2011 - 16:49 | Link to Comment hooligan2009
hooligan2009's picture

One thing that has always perplexed me is what role the FBI is supposed to play in all this fraud and intimidation by corporates, banks and lobbyists. After all in its February 2010 budget, they have this:

Budget Summary: The Federal Bureau of Investigation’s (FBI’s) Fiscal Year (FY) 2011 budget request proposes a total of $8,264,677,000 in direct budget authority, including 33,810 permanent positions (13,057 Special Agents, 3,165 Intelligence Analysts (IAs), and 17,588 Professional Staff) and 32,908 full time equivalents (FTE). The request includes a total of $8,083,475,000 for Salaries and Expenses and $181,202,000 for Construction, and is critical to the FBI’s investment strategy to acquire capabilities needed to counter known or anticipated national security threats and crime problems.

Now call me naive if you want, but thats 66,000 odd people getting paid around $120,000 on average, each! Surely, but surely, they must have been doing something, or are we in a SNAFU regulatory and policing environment that is akin to the security screw-ups that resulted in the creation of homeland security?

Homeland security has a meagre (net) $57 billion ($96 billion gross, whatever that means) and more than 200,000 employees in the presidents last request for 2012 here 

http://www.dhs.gov/xlibrary/assets/budget-bib-fy2012.pdf

interesting how that works out at a net cost of $285,000 per employee per annum. 

Are all these guys also part of the rip-off transfer from main street (aka tax payers) to wall street (aka Banks) to wall street police force (aka Homeland Security) or what?

Sat, 12/03/2011 - 20:55 | Link to Comment Syrin
Syrin's picture

Why does the author conclude 2032?

 

Here's why I don't think we fall into a third world country.   Revolution will happen as things continue to erode.   Maybe the NBA and NFL can distract the masses for a while, but as economic reality presses ahead, people will become increasingly angry, increasingly violent, increasingly desperate.   I have prepped, I have taught my kids Krav Maga, and I fully anticipate the worst.   I know we'll fare much better than the unwashed media controlled masses (I'm talking to you Occucrappers).

Sat, 12/03/2011 - 21:12 | Link to Comment Syrin
Syrin's picture

Know what I want to see here at ZH? More articles detailing the collapse. I don't need any more articles showing me we are in the crapper. I've know that for years.

 

Here's what I want. How do we know when to go into a bunker mentality? How will events unfold? Anyone read "The Patriot"? Very plausible, scary as hell. So what happens? Occucrappers start bombing banks? Banks hire guards and get extra police? Martial law? Mass riots to the point of anarchy? Do these events unfold locally or do they spread? At what point do the riots get organized? Does the military turn on it's citizens or the gov't?  Is there ever an actual revolution?

 

Do the sheeple ever undersatnd that we have to remove the current governing bodies to fix this, or do they target the "rich" they are so jealous of? See, most of these occucrappers can't grasp that the majority of the rich aren't financial manipulators. They are doctors, CEO's, business owners, accountants, lawyers or blue collar types who managed to save and be frugal. They ARE what drives the productive part of the economy. They are what holds this house of cards up. Yet this administration has put a target on the back of every single successful person. For every Goldman Sachs douche bag, there are 1000 other "rich" who busted their ass to achieve and benefited society at large with the most recent popular example being Steve Jobs. Will society ever admire those who worked hard to achieve, created something of value including goods, services and jobs? It's doubtful since gang thug mentality is what occupies the White House and what is being sold by the media.dd

Sat, 12/03/2011 - 22:53 | Link to Comment Green Leader
Green Leader's picture

"Here's what I want. How do we know when to go into a bunker mentality? How will events unfold? "

Only those receiving direct revelation from the Holy Spirit will be able to know and face what's coming ahead.

Sat, 12/03/2011 - 23:45 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

"When the Federal Reserve or the federal government supports banks and financial markets through liquidity injections, bailouts, asset purchases, quantitative easing, etc., the lion’s share of financial support, i.e., newly created money, is captured by the largest financial institutions and by the wealthiest 1% of Americans.  Money printing skews the distribution of money over the economy while the value of money, i.e., the purchasing power of wages and savings, is reduced.  The overall effect is a wealth transfer from proverbial Main Street to literal Wall Street."

 

Good summary of the "trickle-down is good" horseshit we are spoon fed by these trolls. Time for French revolution style haircuts to be back in fashion.  

Sat, 12/03/2011 - 23:48 | Link to Comment acaciapuffin
acaciapuffin's picture

This is a really good article and I really do feel as though this is a much more likely scenario then some of the apocylyptic scenarios that are out there. This is the slow slide into the US becoming a third world nation. I pray it wont happen.

Sun, 12/04/2011 - 00:49 | Link to Comment Grand Supercycle
Grand Supercycle's picture

SP500 bull vs bear battle reverts to bearish bias after price action on Friday and more downside expected.

My long term indicators have continued to warn of US Dollar strength and EURO weakness and these signals have increased since 2009. The overdue dollar rally should be substantial.

http://stockmarket618.wordpress.com

Sun, 12/04/2011 - 12:06 | Link to Comment Snakeeyes
Snakeeyes's picture

Too late!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Look at Italy versus the US. And then look at video from Government Gone Wild. This is all OUT OF CONTROL AND WILL CRASH!

Can Europe Control Its Spending And Save The Euro (or Gyro)? Don't Look To China As A Role Model For Economic Growth Either

http://confoundedinterest.wordpress.com

Do NOT follow this link or you will be banned from the site!