REALITY CHECK : THE 56 TRILLION HOLE !

by White Noise | October 11, 2008 at 10:07 am

363 views | 8 Recommendations | 9 comments

That’s 480,000 $ per American household ! The brits don’t even use the word trillion for it is in fact a thousand billion ! David Walker (fmr. Comptroller General, US) lays it down in all it’s ugliness with Bill Maher. http://www.youtube.com/watch?v=0NM5Q5VDpnA

"I would argue that the most serious threat to the United States is not someone hiding in a cave in Afghanistan or Pakistan but our own fiscal irresponsibility," - David Walker

First they stole 2 elections… the first by perverting the supreme court…nothing happened…Then 9-11 & a war based on a 1000 lies… nothing happened… they proceeded to shred the constitution, kidnapped imprisoned & tortured the world over, spied on all of us & fired the best US attorneys… nothing happened…conducted a thinly veiled ethic cleansing during Katrina…nada…now they are taking us to the cleaners…

Is there a limit to the damage this executive branch can inflict to the USA ?

It seems not !

Fear & Greed Corp reigns under the guise of Mindfuck Inc.

Get a third job ! Sell a vital organ ! Move in a card box by the river, but stop your whining buba ! You are but a victim of your own imagination, you suffer from a severe case of "mental recession"... Now get over it !

* WAR IS PEACE, FREEDOM IS SLAVERY, IGNORANCE IS STRENGTH *

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White Noise

at 10:41 on October 11th, 2008

DAVID WALKER RAPPING IT UP ON 60 MINUTES...

http://www.youtube.com/watch?v=OS2fI2p9iVs

“A banker is a man who loans you umbrellas when the sun is shining and demands it back the moment it looks like rain." - Mark Twain

White Noise

at 10:40 on October 11th, 2008

http://www.iousathemovie.com/

"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." - Groucho Marx

White Noise

at 10:43 on October 11th, 2008

This is also a class war by any other name...

Since the Bush Putsch in 2000, median income has fallen 5.9%.

Mr. Bush and friends are offering us an "ownership" society. But he didn't mention who already owns it. The richest fifth of America owns 83% of all shares in the stock market. But that's a bit misleading because most of that, 53% of all the stock, is owned by just one percent of American households.

And what does the Wealthy One Percent want? Answer: more wealth. Where will they get it? As with a tube of toothpaste, they're squeezing it from the bottom. Median paychecks have gone down by 5.9% during the current regime, but Americans in the bottom fifth have seen their incomes sliced by 20%.

At the other end, CEO pay at the Fortune 500 has bloated by 51% during the first four years of the Bush regime to an average of $8.1 million per annum.

So who's winning? It's a crude indicator, but let's take a peek at the Class War body count.

When Reagan took power in 1980, the One Percent possessed 33% of America's wealth as measured by capital income. By 2006, the One Percent has swallowed over half of all America's assets, from sea to shining sea. One hundred fifty million Americans altogether own less than 3% of all private assets.

Yes, American middle-class house values are up, but we're blowing that gain to stay alive. Edward Wolff, the New York University expert on income, explained to me that, "The middle class is mortgaging itself to death." As a result of mortgaging our new equity, 60% of all households have seen a decline in net worth.

Is America getting poorer? No, just its people, We the Median. In fact, we are producing an astonishing amount of new wealth in the USA. We are a lean, mean production machine. Output per worker in BushAmerica zoomed by 15% over four years through 2004. Problem is, although worker productivity keeps rising, the producers are getting less and less of it.

Today's Pig is Tomorrow's Bacon
http://www.gregpalast.com/todays-pig-is-tomorrows-bacon...

Kydroon

flagged this story as Good Stuff

at 10:48 on October 11th, 2008

White Noise, unfortunately just to true...

Some very few have used the entire US society to accumulate extreme wealth.

I am explicitely taking out entrepreneurs, as the put their own fate into the bet. Entepreneurship is probably the best the US can and should export, but a lot of top managers have earned money without any risks.

As we see this missalocation of risk and reward turns out bad.

Let's see how the world continues to go down. So far each measure to support and stabilise markets has led to an increased meltdown speed.

This weekend we get new support and stabilisation measures announced.

I am quite certain, that the amount of money for thoses measures that will be announce is more than the economies can handle...

White Noise

at 15:01 on October 11th, 2008

The plan was plain & simple from the get go...

PRIVATIZE THE PROFITS & SOCIALIZE THE COST !

DISASTER CAPITALISM 101

CHAOS = OPPORTUNITY = $$$$$

Now is the Time to Resist Wall Street's Shock Doctrine

http://www.naomiklein.org/articles/2008/09/now-time-resist-wall-streets-shock-doctrine

SOLARLIFE

flagged this story as Good Stuff

at 11:26 on October 11th, 2008

White Noise, I like this story. It's worth the Bush clan tries to distribute the sub-prime scam to the rest of the world. How does it work ? All governments to buy worthless scam-bank certificates, means inflation, worthless money. No problem everybody gets debit card from birth. 10% of any transaction to American Express Bush clan.

BallyZACA

flagged this story as Good Stuff

at 11:49 on October 11th, 2008

White Noise, I like this story. It's good stuff.

Its good to vent, and I do it all the time generally stepping' on somebody’s toes in the process. A couple of thoughts being as I was a supporter of the "Shrub," but began to question the policies and actions of the administration after he was elected to a 2nd term. Now, we're all paying for the Bush/Cheney mistakes and incompetence’s. Things will change, unfortunately, a great deal of treasure and blood has been spent (or, ripped-off). Read an exerpt from Landes book (below), he spells it out clearly, as corporate interests rule while the governments act as confederates in their quest for profit.

“I would put forward a LAW of social and political relationships, namely, that three factors cannot coexist: (1) a marked disparity of power; (2) private access to the instruments of power; and (3) the equality of groups or nations. Where one group is strong enough to push another around and stand to gain by it, it will do so. Even if the state would abstain from aggression, companies and individuals will not wait for permission. Rather, they will act in their own interests, dragging others along, including the state.” – (David Landes, “The Wealth and Poverty of Nations,” pg. 63)

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