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Old 12-01-2011, 11:03 AM
 
Location: Philadelphia
11,978 posts, read 11,259,049 times
Reputation: 8214

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Great article about how the economic policies of The Federal Reserve and our Government have essentially wiped out the Middle Class. It is long and detailed but should infuriate you and bring people of all political leanings together. The system is broken. Don't be scared to fix it.


COMFORTABLY NUMB ¬ę The Burning Platform







"The anger and vitriol directed at OWS protestors by middle class Americans is a misdirected reaction to a quandary they can’t quite comprehend. They know their lives are getting more difficult but aren’t sure why. They are paying more for energy, food, tuition, and real estate taxes, while the price of their houses decline and their wages stagnate."

" The government reported our recession over in December 2009. It was certainly over for the Wall Street psychopaths as they rewarded themselves with $43 billion of bonuses in 2009/2010. The number of Americans on food stamps has risen by 6.8 million during this government sponsored “recovery”. You’ll be happy to know that Obama’s good buddy – Jamie Dimon – and his well run machine at JP Morgan earns hundreds of millions administering the SNAP program."


"It is no surprise that beginning in 1980 when government spending began to accelerate much more rapidly than government revenues, the government decided to “tweak” how it measured inflation. The government reports inflation at 3.5% today. The truth is inflation is running in excess of 10% if measured exactly as it was in 1980. That’s right, we have a recession and we have inflation in double digits. No wonder the masses are restless."


"The reason middle class Americans are being methodically exterminated and driven into poverty is the monetary policies of the Federal Reserve. Since 1971, when Nixon extinguished the last vestiges of the gold standard and unleashed politicians to spend borrowed money without immediate consequence, the U.S. dollar has lost 82% of its purchasing power using the government manipulated CPI. In reality, it has lost over 90% of its purchasing power. The average American, after decades of being dumbed down by government sanctioned education, is incapable of understanding the impact of inflation on their lives. As their wages rise 2% to 3% per year and inflation rises 5% to 10% per year, they get poorer day by day. The Wall Street banks, who own the Federal Reserve, step in and convince the average American to substitute debt for real wealth in order to keep living the modern techno-lifestyle sold to them by mainstream corporate media"



"A highly educated engaged citizenry would be a danger to the existing social order. The 1%, educated at our finest universities, does not want average Americans to obtain a great education for a reasonable price. They want them to get a worthless diploma at an excessively high price tag and become debt slaves to the Wall Street 1%. "


"There were 400 pages of Federal Tax rules when the 1% personal income tax was implemented in 1913. Did the 18,000% increase in tax rules since 1913 benefit the average American or did they benefit the 1% who hires the lobbyists to write the rules which are passed into law by the politicians who receive their campaign contributions from the 1%? Do you ever wonder why you pay more taxes than a billionaire Wall Street hedge fund manager?"



“Experience has shown that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.”
– Thomas Jefferson

“The more corrupt the state, the more numerous the laws.”
Tacitus, The Annals of Imperial Rome

Last edited by 2e1m5a; 12-01-2011 at 11:11 AM..
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Old 12-01-2011, 01:31 PM
 
3,457 posts, read 3,294,619 times
Reputation: 1532
the author doesn't really understand the problem.

government spends too much, sure, he gets that right. but to blame everything on government spending is to miss the trillions of dollars that get created through private lending, which drive up the cost of living, which has nothing to do with "government spending".
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Old 12-01-2011, 01:33 PM
 
8,091 posts, read 5,338,727 times
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Quote:
Originally Posted by Cletus Awreetus-Awrightus View Post
the author doesn't really understand the problem.

we are not in a crisis of government spending. government spending is dangerously high, yes, but that's in response to a private-sector crisis.

What are we in a crisis of then???
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Old 12-01-2011, 01:34 PM
 
3,457 posts, read 3,294,619 times
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Quote:
Originally Posted by Hot_Handz View Post
What are we in a crisis of then???
too much lending, too much borrowing.

too many government incentives to lend, too many government incentives to borrow.

too much risk in the private sector. Too much of that private sector risk being guaranteed by the government.
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Old 12-01-2011, 01:35 PM
 
Location: somewhere in the woods
16,876 posts, read 13,823,750 times
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Quote:
Originally Posted by Cletus Awreetus-Awrightus View Post
too much lending, too much borrowing.

you forgot too much printing.
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Old 12-01-2011, 01:39 PM
 
3,457 posts, read 3,294,619 times
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Quote:
Originally Posted by monkeywrenching View Post
you forgot too much printing.
see, we all need to understand what "printing" consists of.

does it consist of elected government cretins running deficits through socialist-type policies? yes. i will grant that. Deficits enable us to have lower taxes than we otherwise would. Deficits enable us to fight wars, and to provide free hover-rounds and penis pumps to senior citizens.

does it ALSO consist of financial cretins making reckless loans with other peoples' money, to bid up asset prices with Fed-created "credit reserves" ? yes. And that's why everything costs so damn much, while wages go nowhere.
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Old 12-01-2011, 01:47 PM
 
Location: Londonderry, NH
41,478 posts, read 54,283,004 times
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I believe the OP is correct but he is only describing the symptoms and not the underlying cause. The problem is the financial system is based on exponential interest and growth. Exponential growth will always try and reach a limit at infinity. X^n will always grow to infinity if n is over one. Eventually, while generating and concentrating considerable profit along the way, the system breaks down because infinity is unachievable.

I wish I knew an answer to this problem.
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Old 12-01-2011, 01:55 PM
 
8,265 posts, read 11,215,632 times
Reputation: 4788
Quote:
Originally Posted by 2e1m5a View Post
have essentially wiped out the Middle Class
Are the wiped out people the ones running over each other to set sales records buying nonessential items like video game consoles, big screen TVs, and fashionable boots?

Are they the ones that just made November one of the strongest for automobile sales since 2009 when the Cash for Clunkers program was rolling?

Are they the ones that are projected to snap up almost every one of the five million Kindle Fires that Amazon can crank out by end of January?

Just like dinosaurs man, wiped out. All poor people now.
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Old 12-01-2011, 01:58 PM
 
69,360 posts, read 58,564,460 times
Reputation: 9372
Quote:
Originally Posted by 2e1m5a View Post
"There were 400 pages of Federal Tax rules when the 1% personal income tax was implemented in 1913. Did the 18,000% increase in tax rules since 1913 benefit the average American or did they benefit the 1% who hires the lobbyists to write the rules which are passed into law by the politicians who receive their campaign contributions from the 1%? Do you ever wonder why you pay more taxes than a billionaire Wall Street hedge fund manager?"
Neither. Because government cant spend money without first taking it out of the economy, and they sure in the hell take out a lot more now than they did then.

The only individuals its benefited was government.
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Old 12-01-2011, 01:59 PM
 
8,091 posts, read 5,338,727 times
Reputation: 1578
Quote:
Originally Posted by Cletus Awreetus-Awrightus View Post
the author doesn't really understand the problem.

government spends too much, sure, he gets that right. but to blame everything on government spending is to miss the trillions of dollars that get created through private lending, which drive up the cost of living, which has nothing to do with "government spending".

Who do the private institutions get their money to lend from???
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