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While you are grousing about all that money our poor ailing seniors get which gives you a whoping check of lets say 20,000 bucks a year which is just above the poverty line. Do remeber that 300-400 billion dollar check Americas 1% get for interest payments on all those trillions of Treasury Bills they own and can buy or sell or borrow against like real money! We spend almost as much on this form of unearned income than on Medicare or Medicaid!
You do know the interest is because the government rakes up debt to pay for its "services" where welfare is over 40%.
You do know the interest is because the government rakes up debt to pay for its "services" where welfare is over 40%.
What do you consider is welfare would it be Social Securty Retirement Insurance or would it be unemployment insurance what about Medicare and Medicaid (the largest expense for Medicaid is nursing home care for our really aged seniors) how about workers compensation and disability insurance those programs account for 96 % of our social welfare spending buddy. Which is about 40% of federal spending and what you guys like to go into hissy fits only accounts for 4 % of the Federal budget (Food stamps, head start and Pell grants etc). Heck we spend more on those guys that fondle you at airports, tap your phones and collect your e-mail for analysis. Weere to I get all this info, it all has to be a pack of lies right. My source is BUSINESS INSIDER a web site that caters to the financial industry people who do care to get the numbers right. .So are you one of these clowns who finds Charles Dickens funny and want to go back to a time when we told people who are in their declining years or had an unfortunate accident on the job that they should get busy dying before they became a burden on the community? Aren't there no work houses or debtor prisons, do you favor indentsureship?
Think of it this way - during the financial crisis in September of 2008, when it became clear that the very wealthy CEOs and top executives of financial firms might be at risk of losing their money, the federal government tripped all over itself to give them unrestricted funds - those funds were barely regulated at all, and helped to finance their salaries, bonuses, and the capital gains of many "counterparties" whose bets were "made whole" by the government's intervention.
Now, compare that with the average bailout given to a lower-income homeowner facing foreclosure - on average, there isn't one.
Draw your own conclusions.
This is a complete fantasy. The top 1% got killed in the downturn, way worse on a percentage basis that the 99%. The owners of Bear Stearnes and Lehman Brothers and Fannie Mae lost virtually 100% of their value; owners of AIG and Bank of America and Citigroup lost hundreds of billions of dollars that have yet to be made back. The restrictions on TARP money given to large institutions were onerous, and included punitive ABOVE-MARKET interest rates.
Compensation of top officers was crushed.
I'm not saying any of these folks had to eat cat food to survive, and the bailouts may have been misguided, but this kind of ignorance is not helping the country in any way. We need a vibrant financial services sector in order to have a vibrant economy, but the villagers with pitchforks and torches seem set on preventing any return to the basic functions that banks have long provided: financing the assets of people and companies who are trying to make things and do things and provide goods and services to the rest of us.
The owners of Bear Stearnes and Lehman Brothers and Fannie Mae lost virtually 100% of their value
Oh yeah... I'm sure that Richard Fuld really felt all that financial pain from his palatial oceanfront estate, or maybe his Manhattan penthouse...
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The restrictions on TARP money given to large institutions were onerous
In what regard? For instance, what limits were placed on the use of that money to effectively finance executive compensation, either at the bailed-out firms or those of their counterparties?
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this kind of ignorance is not helping the country in any way.
We've tried this experiment - the financialization of the American economy via everything from student loans to exotic credit instruments - since the 1980's. In my estimation, it hasn't turned out so well.
on preventing any return to the basic functions that banks have long provided: financing the assets of people and companies who are trying to make things and do things and provide goods and services to the rest of us.
Here is a better idea. Get rid of the Banksters, and GULP!, people would have to pay only what they have and can afford, rather than being robbed the rest of their life via usary, and prices would come down.
Rather than these constant bubbles these thieves are blowing in order to steal from everyone.
This is a complete fantasy. The top 1% got killed in the downturn, way worse on a percentage basis that the 99%. The owners of Bear Stearnes and Lehman Brothers and Fannie Mae lost virtually 100% of their value; owners of AIG and Bank of America and Citigroup lost hundreds of billions of dollars that have yet to be made back. The restrictions on TARP money given to large institutions were onerous, and included punitive ABOVE-MARKET interest rates.
Compensation of top officers was crushed.
I'm not saying any of these folks had to eat cat food to survive, and the bailouts may have been misguided, but this kind of ignorance is not helping the country in any way. We need a vibrant financial services sector in order to have a vibrant economy, but the villagers with pitchforks and torches seem set on preventing any return to the basic functions that banks have long provided: financing the assets of people and companies who are trying to make things and do things and provide goods and services to the rest of us.
Bullcrap. This country did quite well for about 200 years with community banks and credit unions that were owned and ran by local people and not a bunch of criminals in Manhattan.
Here is a better idea. Get rid of the Banksters, and GULP!, people would have to pay only what they have and can afford, rather than being robbed the rest of their life via usary, and prices would come down.
Rather than these constant bubbles these thieves are blowing in order to steal from everyone.
100% correct. Before the criminal bankers and the government built the Empire of Cheap Credit, the average American could buy a home and get a mortgage at a local bank, credit union or S&L and pay it off in 10 or 15 years!
No one really has any real money. It's a belief system- like a religion. One must believe they are poor and in servitude to the rich. In the mean time the system consists of digits flying around the world via computers hooked up to markets...someone farts in Greece and someone gets rich in New York. Confidence lost is faith torn asunder - The respect (transfer of power) for the rich is a prime mistake that most people make- even when they prove not to be respectable..but like a religion- we continue to believe in a god that does not exist...in money we trust.
100% correct. Before the criminal bankers and the government built the Empire of Cheap Credit, the average American could buy a home and get a mortgage at a local bank, credit union or S&L and pay it off in 10 or 15 years!
Back in the good old days say circa 1929 to get a mortgage at a local bank you needed to be able to put 20% down and cover all the fees, 10% down was no lock on a mortgage. Also you had to have a stable work history and a career position so you could service that 15 or 20 year mortgage. That was the call of the loan officer and if your guy didn't think that Wops or Micks or Heebs could be trusted it was no mortgage for you if you happend to be a proud hardworking immigrant from those nations. As for Blacks, spics, nips and chinks you have to be kidding if anyone but a bank owned by one of your race would let you have a face to face with mister loan officer. Now we have progressed a bit since then and we created Freddie and Fannie and Sallie Mae help the average Joe get a modest house and not have to go back to the tenements , rural house or mountain hollows he grew up in. Afterall a 20 something GI coming home in 1946 wanted to start a family get a home , and buy a car and he sure as heck didn't have much of a employment history and sure as hell could put 20% down, military pay wasn't that good except for senior officers!
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or would it be unemployment insurance 
