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CORPORATIONS WHO PLAN TO CONSOLIDATE THEIR POWER THROUGH INDUCING WORLD-WIDE SUFFERING AND ECONOMIC DOWNTURN

Deutsche Bank- Europe’s biggest bank, said that in 2012 their net income unexpectedly rose an annual 3 percent to 747 million euros ($964 million) in the three months through September 2012 and reported net income of EUR 4.3 billion for the full year 2011.

Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs reported as of January 16, 2013 – that Goldman Sachs Group, Inc. profits were dramatically increasing due to strong investment banking, equity offerings and debt underwriting results boasting quarterly earnings and revenues that far exceeded Wall Street's expectations.

JPMorgan Chase dramatically increased profits in spite of the trading scandal that cost the bank $6.2 billion, reporting record profits for the third quarter of 2012 with increased revenue reported in every business line. CEO Jamie Dimon stated in a written statement that profits generated by new mortgages and refinances were the key driver of these overall dramatic results, but that performance was also strong in commercial lending, investment banking, credit cards and auto loans.

Goldman Sachs Earnings jumped to $5.60 per share from $1.84 a share in the year-earlier period, with net revenues improving to $9.24 billion from $6.05 billion a year ago. Goldman saw net earnings of $2.89 billion in the quarter, with an annualized return on equity of 16.5 percent boasted net revenues of $34.16 billion and net earnings of $7.48 billion for the year ended December 31, 2012. Goldman’s excess liquidity was reported as $175 billion as of December 31, 2012. Diluted earnings per common share were $14.13 compared with $4.51 for the year ended December 31, 2011. Return on average common shareholders’ equity (ROE) (1) was 10.7% for 2012. Fourth quarter net revenues were $9.24 billion and net earnings were $2.89 billion. Diluted earnings per common share were $5.60 compared with $1.84 for the fourth quarter of 2011 and $2.85 for the third quarter of 2012. Annualized ROE (1) was 16.5% for the fourth quarter of 2012. Debt underwriting apparently produced net revenues of $1.96 billion, which is the second best annual performance and the highest since 2007. Fixed Income, Currency and Commodities Client Execution generated net revenues of $9.91 billion, including strong results in mortgages and solid results in credit products and interest rate products.

Goldman Sachs and JPMorgan Chase, are the Wall Street giants who dramatically profited from our nations’ financial crisis. This article explains how induction of this nation’s economic downturn actually allowed these financial giants to dramatically increase profits and consolidate their corporate strength at America’s expense. These particular financial giants have no problem with reporting these facts to encourage new investors in spite of the fact that they are now facing numerous investigations and legislative inquiries into their fraudulent business practices. American economic reports and financial crises statistics provide an accurate accounting demonstrating that these banking industry giants substantially increased their Corporate Profits which DID NOT lead to any increased national economic growth and in fact ravaged and devastated our national economy. As a result of the 2008 bank mergers a few corporations now control all our major banks.
Last Thursday, the regulators said that Goldman and JPMorgan would need to resubmit their proposals to pay out billions of dollars to shareholders, citing weaknesses in their capital plans. Thursdays’ rebuke to Goldman and JPMorgan highlights growing tension between the U.S. government and the international banking industry. U.S. Regulators are supposedly trying institute controls to prevent a repeat of the 2008 crash when the banking industry brought the financial system to the brink and subsequently were bailed to the tune of 700 billion dollars courtesy of our American taxpayers. To guard against another crash, Congress has mandated that regulators annually test the financial strength of large banks. Goldman Sachs and JP Morgan apparently failed the stress tests that the regulators requested. American’s should question how and why a huge international bank could be allowed to create its own “stress test” and how it could still fails it???? Now we are told that Goldman is being "rebuked" by the regulators and has to create another test for itself and pass it?? Americans must wonder if the new test will include off-balance sheet items or derivatives? Perhaps American citizens who bailed out the banks with their tax dollars should design a our own “stress test” for these risk-taking banks who fail their own stress tests?

This article was researched and written to explain exactly how these highly sophisticated financial elite corporations are so easily able to play Wizard of Oz behind the magic curtain to successfully manipulate our nation’s economy ( and other nations’ economies.) this Article also explores just what Americans should expect in the near future if we allow these financial giants to progressively consolidate their power through creating financial chaos for the rest of us. In is fairly easy to observe that they have accumulated wealth through government bailouts and increasing leverage of consumer debt and foreclosures on commercial and private property. The more insidious issue is how their taxes are avoided and their assets ( excess liquidity) is withheld or invested elsewhere. We will explore how using these techniques that these powerful corporations can successfully control the flow of money in our economy to their advantage through a carefully planned strategy to sit on and fail to reinvest their accumulated capital, (excess liquidity) while avoiding American taxes on their profits through increasing overseas investments and placement of excess reserves in foreign tax havens to avoid paying American taxes on excess financial reserves. In these ways corporate profits can be increased while concurrently inducing a worsening economic trend. Once a national economic downturn has been successfully initiated it will proceed on its own momentum as debts tend to grow exponentially, year after year, and they do so inexorably, especially when–the economy slows down and small and medium companies and people fall below break-even levels. As our national debts grow these financial elite corporations begin to systematically siphon off the resultant economic surplus accrued through debt service . This problem is acerbated by the fact that the financial sector’s receipts are not turned into fixed capital formation to increase output. They instead deliberately build up increasingly on the opposite side of the balance sheet, as new loans, that is, debts and new claims on society’s output and income. As the downturn gains more momentum the majority of small to median American businesses are inevitably unable to invest in new capital equipment or buildings because they are obliged to use their reduced operating revenue to pay back their loans and/or bondholders. As a result unemployment exponentially increases, while wages and salaries decrease or stagnate leading to increasing collapse of small to median business in a domino effect that ensures increasing national financial disaster. .

Most of us are aware that the U.S. government and SEC recently investigated and finally sued Goldman for a range of unethical and illegal practices including betting against their own investment products; robo-signing; front running with high frequency trading; off-balance sheet items; securitization of risky sub-prime mortgages; insider trading; understating debt levels used to fund securities trades (2009) and, excessive borrowing to fund investments; and fraud committed by accounting managers. Now according to the Collins English Dictionary 10th Edition FRAUD is defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. FRAUD IS A CRIME but these financial institutions are not sanctioned but rewarded through bailouts.
Americans should be alarmed and take heed and thoroughly understand the fraudulent way that corporate banking interests have successfully leveraged our U.S. and European economies into an intentionally contrived economic downturn for the purpose of dramatically increasing their corporate profits. As banking continues to manipulate our world economies we begin to comprehend how the enormous power they wield can be used to successfully control governments and nations.

To see where all this is taking us Americans should carefully review and understand the recent austerity measures forced on distressed European counties in bank bailout agreements. Analysts and Economists tells us that mandatory austerity measures (such as those recently imposed in Europe) are actually detrimental in an economic downturn due to a significant private sector financial surplus, in which consumer savings is not fully invested by businesses. By comparison during strong and healthy economic cycle private sector savings are being continually recirculated into the banking system expanding healthy business growth.
Even when consumers are increasing their savings these corporations only need to hold their money hold back and fail to reinvest it in American businesses to create a unhealthy surplus resulting in increased economic downturn. For example, we can examine a U.S. private sector financial deficit from 2004 to 2008 transitioned to a large surplus of savings over investment that exceeded $1 trillion by early 2009 and remained above $800 billion as of September 2012. Part of this investment reduction related to the housing market, a major component of investment. This surplus explains how even significant government deficit spending would not increase interest rates (because businesses still have access to ample savings if they choose to borrow and invest it, so interest rates are not bid upward) This is why government actions to increase the money supply will not work because the national economy is awash with savings with no place to go.

Experts and analysts warn that austerity measures forced on private citizens by a national government stand to be detrimental because neither taxation nor bond issuance will act as a funding mechanism for the government forcing the agreement. Instead all spending is done by crediting bank accounts, so national governments cannot run out of money unless they have fixed exchange rate to either foreign currency or gold or are part of a larger currency area like the eurozone where they do not have the right to issue money.

According to economist Martin Wolf,* the U.S. and many Eurozone countries experienced rapid increases in their budget deficits in the wake of the 2008 crisis as a result of significant private sector retrenchment and ongoing capital account surpluses. Government policy determination have little or no relationship to these deficit increases. This is why austerity measures can be so highly detrimental to a worsening economy. Wolf explained that government fiscal balance is one of three major financial sectoral balances in a country's economy, the others being the foreign financial sector (capital account) and the private financial sector. The sum of the surpluses or deficits across these three sectors must be zero by definition.
In the U.S. and many Eurozone countries other than Germany, a foreign financial surplus exists because capital is imported (net) to fund the trade deficit. Further, there is a private sector financial surplus due to household savings exceeding business investment. By definition, a government budget deficit must exist so all three net-to-zero. For example, the U.S. government budget deficit in 2011 was approximately 10% GDP (8.6% GDP of which was federal), offsetting a foreign financial surplus of 4% GDP and a private sector surplus of 6% GDP.
Wolf further explained in July 2012 that the sudden shift in the private sector from deficit to surplus forced the U.S. government balance into deficit, writing: "The financial balance of the private sector shifted towards surplus by the almost unbelievable cumulative total of 11.2 per cent of gross domestic product between the third quarter of 2007 and the second quarter of 2009, which was when the financial deficit of US government (federal and state) reached its peak...No fiscal policy changes explain the collapse into massive fiscal deficit between 2007 and 2009, because there was none of any importance. The collapse is explained by the massive shift of the private sector from financial deficit into surplus or, in other words, from boom to bust." Wolf also wrote that a number of European economies face the same scenario and that not deficit spending would likely have resulted in Depression. Wolf stated that a private sector Depression (represented by the private and foreign sector surpluses) was being "contained" by government deficit spending.
Another Economist; Paul Krugman* explained that in December 2011 the causes of the sizable shift from private sector deficit to surplus in the U.S.: "This huge move into surplus reflects the end of the housing bubble, a sharp rise in household saving, and a slump in business investment due to lack of customers."
Economist Richard Koo* further described similar effects for several of the developed world economies stating: "Private sectors in the U.S., the U.K., Spain, and Ireland (but not Greece) are undergoing massive deleveraging [paying down debt rather than spending] in spite of record low interest rates. This means these countries are all in serious balance sheet recessions. The private sectors in Japan and Germany are not borrowing, either. With borrowers disappearing and banks reluctant to lend, it is no wonder that, after nearly three years of record low interest rates and massive liquidity injections, industrial economies are still doing so poorly. Flow of funds data for the U.S. show a massive shift away from borrowing to savings by the private sector since the housing bubble burst in 2007. The shift for the private sector as a whole represents over 9 percent of U.S. GDP at a time of zero interest rates. Moreover, this increase in private sector savings exceeds the increase in government borrowings (5.8 percent of GDP), which suggests that our government is not taking strong enough steps to effectively offset private sector deleveraging.
Last week, Mandatory Austerity Measures suggested in Cyprus involved a bailout agreement that would levy an involuntary 10% of each private bank account. How would you feel if the government levied 10% of your savings to bailout their debt?
U.S. investors are claiming they don’t care too much about who takes losses in Cyprus, as long as there's a bailout that stops the run on banks in the Mediterranean island nation and keeps the eurozone stable; according to a statement issued by Karyn Cavanaugh, market strategist at ING Investment Management in New York.

The mandatory levy on deposits likely will be 10 to 20 percent, in order to raise about $7.5 billion, said Jack Ablin, chief investment officer for BMO Private Bank in Chicago. The move should be well received by U.S. investors because it's the third bailout deal in the eurozone, including Greece and Spain, and in each case the countries have agreed to austerity plans.


BANKING INDUSTRY PLAN FOR CONSOLIDATION OF WORLD WEALTH

In 1988 a group of bankers met in Switzerland at the Bank for International Settlements (“BIS”) ( the “Central Banker’s Bank”) where they agreed to a set of minimum capital requirements (8%) for banks. This was a number fine for some banks, but higher than what was in place for France and especially Japanese banks. To raise more capital to reach the 8% level, French and Japanese banks had to reduce loans, causing a recession in France and a depression in Japan, one from which Japan has never fully recovered.

In 2004, the same group met again and agreed to require banks to value their capital based on market values, or “mark-to-the-market.” These rules were approved for the US on November 1, 2007. The declining housing market set off a chain reaction due in part to these determinations. Aware of the impact of the change to market values banks constricted the cost of credit in anticipation of a crash. Therefore in December, 2007 the stock market collapsed and the world economic crunch began in earnest. This was no surprise to the Japanese bankers. Full implementation of “mark-to-the-market” was delayed in the US until 2009. “Mark-to-the-market.” has been blamed for actually increasing the effect of the housing crisis as banks were forced to reduce lending to increase their capital as the value of mortgages they hold declined. This produced a downhill snowball effect on real estate values and then on all other resources and commodities as lending and therefore the economy contracted in response.

These same bankers have now systematically increased capital requirements once again, in a series of steps beginning in 2013 with the start of the gradual phasing-in of the higher minimum capital requirements not to be completed until 2018. The controlling bankers have imposed this and all nations virtually forcing most of the governments of Europe including the UK, and also in the US as well as most developed nations. This masterful coup d'état will ultimately consolidate the wealth and power of a small group of financial elite players acting in concert to control world finances.

One study estimates that the medium-term harmful impact of these chages on GDP growth is in the range of −0.05% to −0.15% per year – intentionally creating a worldwide economic crunch! To meet the capital requirements which are to become effective in 2015 these consolidated banks are estimated to need to increase their lending spreads on average by 15%. The capital requirements effective as of 2019 could increase bank lending spreads by about .5%. Rising interest rates could significantly hurt small bank capital positions because a 3% upward swing in interest rates could drop a bank’s capital by 30%, placing the bank in an undercapitalized position, forcing it dramatically to reduce loans. Again, the economic downturn snowball effect. The new regulatory capital requirements are an immense and unnecessary burden that will gradually eliminate the existence of banks with under $1billion in assets. These new regulations will therefore drive increased consolidation of these financial giants power and wealth through future massive mergers and acquisitions. In the anticipated “merger boom” over the next 3-5 years 20-30 percent of all banks will be forced to merge, further consolidating world wealth into the hands of the financial elite and creating a massive world population of debt slaves that can be leveraged into mandatory austerity.

Footnotes;
Economist Martin Wolf*- In 1971 Wolf joined the World Bank's young professionals programme, becoming a senior economist in 1974. By the start of the eighties, Wolf became deeply disillusioned with World Bank's policies undertaken under the direction of Robert McNamara - the Bank had been strongly pushing for increased capital flows to developing countries, which had resulted in many of them suffering debt crises by the early 1980s. Seeing the results of misjudged intervention by global authorities and also influenced by various works critical of government intervention. Wolf left the World Bank in 1981, to become Director of Studies at the Trade Policy Research Centre, in London. He joined the Financial Times in 1987, where he has been associate editor since 1990 and served as their chief economics commentator since 1996. In late 2008 and early 2009 Wolf used his platform on the Financial Times to advocate a massive fiscal and monetary response to the financial crisis of 2007–2010. According to Julia Loffe writing for The New Republic, Wolf is "arguably the most widely trusted pundit" of the economic crisis. In 2012, Martin Wolf stated in remarks for the Financial Times that public goods are building blocks of civilization: security/safety, knowledge/science, a sustainable environment, trust and financial stability. Wolf is apparently "staggeringly well connected" within elite financial circles and personally knows all significant central bankers. Despite Wolf's close connections with the powerful, he is trusted for his independence and is known to criticize initiatives promoted by his financial elite friends when he considers it to be in the public's interests. Quoting Julia Loffe in “ Call of the Wolf” as published in The New Republic on 9-16-2009. Also see Fixing Global Finance (The Johns Hopkins University Press 2008) ISBN 978-0-8018-9048-2.
Economist; Paul Krugman* serves as professor of Economics and International Affairs at Princeton University. Krugman received his B.A. from Yale University in 1974 and his Ph.D. from MIT in 1977; and has taught at Yale, MIT and Stanford. At MIT Krugman became the Ford International Professor of Economics. Paul r. Krugman is the author or editor of 20 books and more than 200 papers in professional journals his world renowned professional reputation rests largely on work in international trade and finance. In 1991 the American Economic Association awarded Krugman its John Bates Clark medal, a prize given every two years to "that economist under forty who is adjudged to have made a significant contribution to economic knowledge." Mr. Krugman's current academic research is focused on economic and currency crises.

Economist Richard Koo* is the Chief Economist of Nomura Research Institute in Japan. Consistently voted as one of the most reliable economists by Japanese capital and financial market participants for nearly a decade, Koo has also advised successive prime ministers on how best to deal with Japan's economic and banking problems. Prior to joining Nomura, he was an economist with the Federal Reserve Bank of New York, and was a Doctoral Fellow of the Board of Governors of the Federal Reserve System. Author of many books and a visiting professor of Waseda University, he was awarded the Abramson Award by the National Association of Business Economics, Washington, D.C. for 2001. His latest book “The Holy Grail of Macroeconomics - Lessons from Japan’s Great Recession” (John Wiley & Sons, 2008) has been translated into and sold in four different languages.
Mon, March 25, 2013 - 2:02 PM — permalink - 0 comments - add a comment

How To Reform Our American Economy

The average American has only "a vague idea" that corporations controlled by economic elite billionaires have developed legal techniques for avoidance of paying their fair share of taxation; but how many Americans know that the proportion of Federal Income tax derived from Corporate income tax has declined steadily from 32% in 1952; to 23% in 1960; to 17% in 1970; to a low of 9% in 1985?
Until a popular government reform movement is generated by intelligent Americans who have taken the time to become informed as to the basic history facts and statistics required to get a full and knowledgeable grasp on how the current status quo of wealth and power are contributing to the progressive decline in most Americans' wellbeing and standard of living; nothing about how the “Corporatocracy” controls the purse-strings of America is ever likely to change. This following information is being disseminated to present an array of convincing and verifiable statistically supported facts and evidence supporting the premise that tremendous profits have been and are flowing into corporate owned and financial industry coffers at the expense of the average American taxpayer as a direct and proximal result of a false and deliberately manufactured financial crises.
The Statistics below provide a comprehensive story of how and why the billionaire sector loosely identified as “the Financial elite” designed self-serving and ingenious strategies facilitating our current housing and economic crises for the purpose of dramatically increasing their share of total net worth. Our nations superrich, "the financial elite,” basically control elections through massive contributions to politicians who support their financial interests so they may be easily enabled to influence and control most of the policy making in of our government. It's time for all Americans to reach out and demand that Congress stop this endless pillage of our tax dollars. Talk about exceeding an "unlimited budget". . . The Federal Reserve just keeps on printing more money and adding to non-rich Americans tax burden and escalating the core problem - the worsening economic and related housing crises that has been disastrous for millions of American families all over the country, causing increasing damaging the economic future of the majority of our Americans and their children and grandchildren for coming generations.

HOW AND WHY THE “AMERICAN FINANCIAL CRISES.” WAS AND IS DELIBERATELY CONTRIVED BY THE FINANCIAL ELITE
Using a definition of relative poverty (as defined by the U.S. Census Bureau statistics reflecting disposable income below half the median of adjusted national income see links and references below this article), it was estimated that, between 1979 and 1982, 17.1% of Americans lived in poverty, compared with 12.6% of the population of Canada, 12.2% of the population of Australia, 9.7% of the population of Britain, 5.6% of the population of West Germany, 5.3% of the population of Sweden, and 5.2% of the population of Norway.

Surely, in the wealthiest country of the world this constitutes a true enslavement of the poor by the wealthy and should be considered as an offense to human dignity. Back in 1981, a full 36% of workers paid on an hourly basis received the minimum wage, or within a dollar of the minimum wage!!
U.S. Census Bureau Statistics also report that the hardest hit group is actually America's youth. Since 1973, the poverty rate for American’s under-30 group nearly doubled to 22%.
The disadvantage being imposed on Americas’ youth must be considered along with current proposed cutbacks to education with a huge reduction of numbers of teachers and cutbacks to funding to numerous educational programs in every age group from elementary school children to college, along with aggressive solicitation of credit cards and student loans to “assist” America’s impoverished youth.
Statistics indicate a multitude of Americans under 30, are employed without benefits at menial labor holding one or more part time jobs in fast food industry, factories, hospitals and restaurants being paid at or below minimum wage. Government Statistics further indicate medical costs have been raised by an average of 8.5% per year since 1984, with millions of American children lacking basic health insurance. Numerous American are employed making beds and emptying urinals in hospitals in which they cannot even afford to pay for a single day's hospitalization. What makes this situation even more of a national disgrace is that of the millions of Americans with no medical coverage are employed full time at one or more jobs! The fact that health care is becoming an unaffordable luxury in America is made more evident when one becomes aware that America ranks 20th in infant mortality behind Spain and Singapore. The shocking truth is that almost 40,000 of the 3.8 million children born in America in 1986 died before their first birthday!
After the Economic Crises imploded in 2007, the share of total wealth owned by the top 1% of the population suddenly increased from 34.6% to 37.1%, with the wealth owned by the top 20% of Americans growing from 85% to 87.7%. A huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent of Americans. The financial elite make an average of $27 million per household per year, and in the meantime by comparison the average income for the bottom 90 percent of American dropped to $31,244 year. Our Nations’ current economic crises has caused a drop of 36.1% in median household income further widening the gap between Americas' very rich and everyone else.

Therefore it is ironic to simultaneously consider that using an index of gross national product and related capital gains; American’s top 1% have been increasing their wealth resulting that America is the Richest Country in the World. While the latest statistics generated by U.S. Census Bureau (open link) evaluates issues of recently increasing U.S. poverty and hunger levels causing suffering in Lower to Median Class American families. The official statistics proving these facts have been provided by government funded U.S. Census Bureau reports ; revealing that according to these statistics reporting dramatic increase in poverty and hunger the U.S. is actually U.S. citizens are one of poorest of all the economically developed nations with increasing hunger and poverty now being experienced by up to 38 % of American citizens. (* see references and links published below article)

The Richest Countries in the World



Country (open link)
GDP

1. United States

$15,290,000,000,000
2. China

$11,440,000,000,000
3. India

$4,515,000,000,000

The growing economic deficit and the associated purported “trillion dollar banking industry losses” have all been used as propaganda tools by corporate controlled media to brainwash and convince the American public that continuing cuts to public services and the decreasing standard of living of poor to middle class working Americans is justified. We are encouraged to believe that our unfortunate and deleterious increasing loss of economic well-being must be accepted currently and we be worsening in the near future. Unless we question these “facts” and reach out to overturn the balance of wealth and power that create this false and manufactured economic oppression our ever decreasing standard of living is likely to continue for generations to come.

Americans must insist on reformation of our corporate controlled government. We must take active and organized measures to eliminate the numerous factors contributing the ongoing economic stranglehold of the Corporatocracy. Americans must abandon the notion that as individuals we are, “powerless” to alter our currently deteriorating economic condition. Instead we must ACT decisively together by taking strong individual and political measures within our local communities. We must stop being brainwashed and coerced by the entities producing corporate media propaganda into believing that those billionaires who control this nation’s true wealth are subject to the grips of a worsening economic crises and “also feeling the pinch!”
The Statistics provided below ARGUE OTHERWISE and were generated by the financial elite themselves in their own publications. For instance; Forbes Magazine ( a publication produced by and dedicated to the aims and goals of the financial elite.) Correctly portrays America’s financial elite increasing and ever expanding capital gains. This information was published for the purpose of assisting our billionaire financial elite in their pursuit of tax loopholes, and as such provides the rest of us with interesting and accurate data. By their own calculations America’s financial elite income truly makes American the world’s wealthiest country. Therefore the false “pinch” and fabricated financial crises and associated “financial cliff” propaganda can be seen to be one the biggest lies ever told to the American public or disseminated by corporate controlled media.
Statistics taken from Forbes magazine's annual survey of America's billionaires indicates that in 1982 there were 13 billionaires, in 1983...15; in 1984...12; in 1985...13; in 1986...26; in 1987...49 and so forth. The number of American billionaires for many years hovered around 13, until the Reagan administration drastically altered the wealth distribution patterns by introducing tax changes favoring the super rich. As a result by 1986 the number of billionaires had DOUBLED, and by 1987 the number of billionaires had QUADRUPLED!! By 1988 there were 68 individuals or families that each had net wealth in excess of $1,000,000,000. By 1989, the number had risen precipitously to 82. By 1990, the Forbes survey reported the staggering total of 99!! These billionaires are the very individuals who fabricated and propounded the “financial cliff” theory to support their tax exempt status and maintain their current stranglehold and status quo of wealth and power. Meanwhile … the average Americans has been and is being subject to ever increasing taxes concurrent with major cutbacks in every sector, including important public services related to health care and teachers, including grants and subsidies vital to supporting public elementary school and college level education, our public libraries, closing numerous national parks and cutbacks to senior and humanitarian services.
Alarming ongoing deprivations include a recent census report of increasing American hunger and poverty along with warnings of increasing cutbacks to public service while a veritable explosion of wealth has been and is taking place among this nations billionaires substantially increasing the enormous and substantial corporate wealth American financial elite who are obviously experiencing no “pinch” whatsoever!

We all have all been exposed to disturbing news stories alerting us to a worsening housing crises. We are therefore all quite well aware of increasing numbers of middle to lower class Americans being forced out of their homes and onto the streets bank foreclosures typically resulting from predatory sub-prime loans and failed loan modifications followed by foreclosure evictions enforced by an unsympathetic pro-bank judiciary. Most Americans do understand that thousands of small to median size businesses including farmers and are currently being subject to unfair commercial foreclosure. Loss of our farms and small businesses are leading factors contributing to our increasing unemployment, lack of healthcare and related deaths and suffering from illness, hunger, desperation and poverty. Americans must fully consider that it is neither fate nor coincidence that these events seem to be occurring simultaneously with a dramatic report of increasing American wealth of the financial elite billionaires through tax breaks combined with capital gains.
Until all these proven related facts become widely circulated and accepted as "common knowledge" American’s may not be motivated to take unified steps to demand reforms and our American well-being and standard of living will continue to decline. Unless we take strong and drastic measures to reform this worsening situation the “Corporatocracy” will continue to profit at the expense of the average American taxpayer. This will enable the financial elite maintain and increase their ever expanding stranglehold of status quo of wealth and power and related unremitting control of U.S. policy makers and lawmakers.
STATISTICS SHOW THE RICHEST 1 (ONE) PERCENT OF AMERICANS POSSESS MORE WEALTH THAN THE COMBINED WEALTH OF THE BOTTOM 90 (NINETY) PERCENT.
verified statistics demonstrate that this nations billionaires are comprised of 1% of Americans
comprising a financial elite that owns more wealth than:
1) ALL of the wealth of ALL of the MIDDLE class
COMBINED WITH
2) ALL of the wealth of ALL of the LOWER class
AND ADDED TO
3) ALL of the wealth of the bottom HALF of the UPPER class

How can an ethical government require its citizens to spend 40 -80 hours a week working to survive BELOW the poverty level? Perhaps the most tragic aspect of all is that in 1986, two million adults who are surviving below the poverty work full-time and often hold more than one job! The U.S. Census Bureau has acknowledged that 32.5 million Americans are now living below the poverty level, and that less than a third of these qualify for any government assistance!


WE MUST REPEAL THE CURRENT DOUBLE STANDARD OF TAX LAWS
Our present day corporation owners build wealth by building factories overseas with special the help of tax breaks for the rich enacted during the Bush administration. These “SPECIAL” tax laws have basically created our current “financial crises” by substantially increasing the tax burden to the lower and middle class taxpayers while progressively ensuring progressive cuts in services decreasing Americans’ standard of living. The head offices of many financial elite owned entities have been relocated overseas to avoid U.S. taxation. To avoid paying other taxes a multitude of oil tankers owned by the financial elite have been re-registered in other countries. To get an accurate idea of the substantial nature and quantity of tax avoidance loopholes used by the financial elite we only need to review past issues of Forbes (available in your local library; Forbes is a magazine which is strictly published to serve the needs of the financial elite.) Each year Forbes magazine compiles a list of the world's richest people, as well as a list of the 400 richest Americans. Forbes has explained the methods it used in determining the wealth of those who qualified to be included in its listings. Quoting Forbes; "Since wealth abroad is sometimes held in complicated ways designed to retain control or bypass various taxing authorities, we count property owned if it is involved in obvious devices for ownership, like family holding companies, or cross-ownership, and sometimes less obvious ones, like certain foundations designed merely for tax avoidance." In practically every issue, Forbes "exposes", or at any rate acquaints the reader with, one or more additional schemes devised by clever tax accountants or investment managers to avoid U.S. taxation. Forbes apparently has no problem with publishing these facts because is read almost exclusively by the financial elite, and those who aspire to join their ranks. (It is alleged that the average worth of Forbes readers is 1.4 million dollars, and that at least 250,000 of its 750,000 subscribers are millionaires.)
Concerned Americans should study and comprehend the clever insidious role played by the existing unbalance in our U.S. tax laws. Existing tax laws are used ensure that the financial elite remains to control all American wealth distribution. Take for instance the continual raising payroll taxes compared to income taxes, (payroll taxes have increased by 30% since 1978.) These increases have caused the average American to pay more in payroll taxes than income taxes. The bottom 90% of wage earners have been hit the hardest with payroll tax increasing without being aware that these unbalanced increases are taking place.
DEMANDING REFORM
Some experts and analysts believe that our national inertia, passivity and outright resistance to creating meaningful reformation to the current corporate stranglehold on our economy results from all the cleverly contrived brainwashing by corporate controlled media propaganda. Other analysts claim that Americans are very aware of these problems but are too financially challenged just trying to survive to organize any viable reform. Polls on the important issues of our day - from senseless wars, to Wall Street bailouts, to corporate tax-dodging, to health care inequities – all tell us that the majority of Americans are fully aware of whose is to blame for our current difficulties but may feel individually “powerless” to take action to end the economic oppression.
We should review and be inspired by our American history and all its examples those who were willing to stand up and fight for our equality, freedom and pursuit of happiness. We must determine to encourage each other to resist current corporate stranglehold. Our rich U.S. history is replete with inspirational examples including our founding forefathers determination to create a “by the people, for the people” …constitutional government to avoid unfair taxation by controlling European Aristocracy, Our Civil War against slavery, the wildcat union strikes for fair wages and better working conditions of a generation ago, the Underground Railroad, the Flint sit-down strike, and other inspirational stories of activists with little money but lots of community spirit, guts determination and solidarity. We must immediately reach out to each other and become community activists now; seeking ways to resist corporate oppression. Working together in our local communities we do have the power to defeat the sophisticated financial elite players who currently use all their powerful Washington Lobbyists to serve their own interests at our expense. These 1% financial elite believe they can use their powerful financial resources and political power to terrorize, bribe, oppress and divide and conquer the rest of us Americans into passively accepting our economic oppression.Americans howevert should recognize that we can easily overcome the power of the “corporatocracy” because they l cannot stay profitable or wield any power at all without the our business and our cooperation.

A SHORT HISTORY OF THE PROBLEMS CREATED BY THE PRIVATELY OWNED FEDERAL RESERVE MONETARY SYSTEM.
This short history tells us how it came to be that our current economy has been taken over by a rigged system developed to protect the interests of the very same banks who lent money they never had. These irresponsible acts finally resulted in this nations Great Depression of the 1930s. During the latter half of the 1920s, steel production, building construction, retail turnover, automobiles registered, even railway receipts substantially advanced the wealth of U.S citizens. The combined net profits of 536 manufacturing and trading companies showed an increase, in fact for the first six months of 1929, of 36.6% over 1928, itself a record half-year. Iron and steel led the way with doubled gains.
This situation in turn set up a crescendo of stock-exchange speculation which had led hundreds of thousands of Americans to invest heavily in the stock market. A significant number of Americans grew excited by the prospects of building personal wealth through investments in this growing industries and began turning to banks to borrow money to buy stocks. By August 1929, numerous brokers were routinely lending small investors more than two-thirds of the face value of the stocks they were buying. Soon over $8.5 billion was out on loan, more than the entire amount of currency circulating in the U.S. at the time.
The rising share prices encouraged more people to invest; people hoped the share prices would rise further. Increasing risky speculation fueled further rises and created an a falsely inflated “economic bubble.” These increasing speculative investments created phenomena that should be labeled as “risky margin buying” because investors stood to lose large sums of money if the market unexpectedly turned down—or even failed to advance quickly enough. (The average price to earnings ratio of S&P Composite stocks was 32.6 in September 1929, clearly above historical norms. )
Meanwhile good harvests had built up a mass of 250,000,000 bushels of wheat to be 'carried over' when 1929 opened. By May 1929 there was a winter-wheat crop of 560,000,000 bushels ready for harvest in the Mississippi Valley. This oversupply caused a drop in wheat prices so heavy that the net incomes of the American farming population from wheat were threatened with extinction. Stock markets are always sensitive to the future state of commodity markets and the slump in Wall-street from this factors was actually predicted for May 1929, by Sir George Paish. In June 1929 a severe drought in the Dakotas and the Canadian West, plus unfavorable seed times in Argentina and Eastern Australia. The oversupply would now be wanted to fill the big gaps in the 1929 world wheat production. From 97c per bushel in May wheat rose to $1.49 in July 1929. When it was seen that at this figure the American farmers would get rather more for their smaller crop than for that of 1928, up went stocks again and from far and wide orders came to buy shares for the profits to come.
In August 1929 the wheat price fell when France and Italy were bragging of a magnificent harvest and the situation in Australia improved. These events sent a shiver through Wall Street and stock prices quickly dropped. The word of cheap stocks brought a fresh rush of 'stags,' amateur speculators and investors. Congress voted for a 100 million dollar relief package for the farmers, hoping to stabilize wheat prices. By October 1929 the price of wheat had fallen to $1.31 per bushel. The falling commodity markets in other countries told upon even American self-confidence, and the stock market started to falter. On October 24, 1929, with the Dow just past its September 3 peak of 381.17. When the market finally turned down, a new phenomenon called “panic selling” started. This unexpected “crash” led to more panics and soon everyone begin running to their banks to withdraw all of their money before it was too late.
The fact that banks had been lending massive amounts of “artificial non-gold backed money” lead to the failure of many banks and huge losses of savings for many people. This roller coaster of personal finance lasted for many years and throughout the Great Depression of the 1930s.
The original “crash” led to more panics and soon everyone begin running to their banks to withdraw all of their money before it was too late.
Finally in 1934, U.S. Congress gave control of our monetary system and production of money over to a privately owned entity called the, “Federal Reserve” which was originally enacted to ensure insurance coverage of $2,500 per depositor, to improve the security of banks and reduced the number of bank failures. (Almost 4,000 between 1933 and 1934.) The private “Federal Reserve” entity was created by and is basically owned and operated in collaboration by the financial elite, the same institutions whose dilatory lending practices caused the Great Depression of the 1930s. The “Federal Reserve” has been unilaterally authorized by our government to control our U.S. treasury by pumping more and more money into the U.S. economy without any connection at all to the amount of goods and services being produced in our country. As a result, our standard of living e.g. the amount of goods and services we can buy with a dollar we earn with our hard work keeps goes down. Since the Federal Reserve took control of the U.S. treasury, the U.S. dollar has lost more than 96% of its purchasing power. One dollar in 1913 is now worth only 4 cents. Currently the 12 controlling regional “Reserve Banks” act as the “service division” of the Federal Reserve -- they carry out the monetary policy set by the privately owned Federal Reserve Board and control, regulate and supervise all their subordinate financial institutions. The agency that charters the bank is also responsible for conducting on-site examinations to make sure the bank is complying with banking laws. That "FDIC" logo you see as you walk in the door is the tell-tale sign that the bank you are doing business with is controlled by the Federal Reserve.

The Federal Reserve is perhaps the most important part of our government to transform This is because of the way the federal reserve controlled monetary system impacts each and every person’s job, home, family and community. The end result of allowing this privately owned and operated entity to control the U.S. treasury and print and produce money at will, is that it perversely operates against our interests to foster only its own financial strength and agenda. The recent massive merger of our centralized banks, who are in turn controlled by the Federal Reserve (a privately owned system that is allowed to make up money out of nothing and secure it only with debt) has allowed the international banking elite to gradually turn almost the entire world into a population of debt-slaves. The U.S. dollar now supposed to be protected not by gold deposits at all but rather by their ability to leverage over-encumbered property through our legal tender and enforce eviction laws. These laws are currently backed by our pro-bank judiciary, and enforced by national and local law enforcement (courtesy of your local sheriff) . This practice ensures that these entities can continue to profit by loaning artificial money (that they never had) tweaking interest rates and increasing inflation to massively increase their profitability all at the American taxpayers’ expense. Their profits are ensured by government bailout combined with a free-hand in repossession of American taxpayers homes and property without having back the money they are lending out with any actual gold. Every American should review a book written by G. Edward Griffin THE CREATURE FROM JEKYLL ISLAND . Author G. Edward Griffin’s important research belongs in the personal library of every American who truly cares about the economy of this country (regardless of political party affiliation) We must work together to rouse the people of this nation from their apathy and increase awareness of the true facts! America's current economic disaster was enabled by the creation of the privately owned Federal Reserve Monetary System back in 1934.

“Inflation” – is something Federal Reserve has been very successful at intentionally creating with serious consequences for everyone. “Inflation” means today’s hard-earned money will be worth less tomorrow. Not only the U.S. but most European Nations are currently experiencing a a related economic crises; with many in free-fall collapse, taking the well-being and lives of billions of hard working people down with them. Exposing and eliminating this privately owned Federal Reserve system – and replacing it with an honest and open one - can provide the critical turning point toward creating a world where the rights of the individual to live and proper are held over the rights of corporations. As our nation's poor and middle class become progressively more financially challenged our nation's wealth has been gradually more and more concentrated into the hands of America's 1% most wealthy with the richest 1% of Americans owning over a third of America's wealth. Today, top American executives are paid an average of $4.9 million each, and executives at the largest companies are paid more than 4 times what they were in the 1970s, meanwhile during this same period, the average American worker saw their pay gradually decrease by over 10%. Statistics tell us that In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes. The top 1%, in contrast, had just 10%.
Americans who wish to preserve our political social autonomy and reverse the downward spiral of our national economy must first of all look to demanding essential audits and dilution of the powerful and corrupt Federal Reserve Monetary System. This privately owned system is exclusively owned, operated and completely controlled by a powerful and self-serving financial elite comprised of this nations Billionaires that basically utilizes the power of Federal Reserve to control the purse strings of the American Monetary System as they similarly control many of our nations law-makers through their very, very powerful Washington lobbyists.

The U.S. Constitution proclaims itself to be the "supreme Law of the Land" (see Article VI), and Article I, Section VIII of the Constitution states that "The Congress shall (Constitutionally speaking, "shall" has been legally defined as "must")...coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures." Why Congress? Because it is answerable to the People it represents! Remember, our Constitutional Republic was intended by our founding forefathers as a tool to protect our rights to a self-represented government! Americans must stop listening to corporate controlled media (propaganda) and seek to get a good grasp on how the privately owned federal reserve monetary systems uses control of “cash flow” to control our U.S. treasury and how the financial elite control a multitude of other countries’ economies and in turn control the worlds’ major financial systems.
Let's not take any more of their abuse! Demand an Audit of theFederal Reserve before they throw away any more of our tax dollars and create much needed reform to stop the financial elite in their tracks!

SEVEN SIMPLE STEPS TO TAKE OUR POWER BACK
1. Take your money out of their banks- institute or use local community credit unions and cooperatives

2. Do not use or (let your children use) their credit cards.

3. Strive to Live within our means and borrow no further false money from these ABUSIVE institutions!

4. Demand that our local and national politicians support the interests of, “we the people
……NOT THE financial elites interests!

5. Study and keep track of which politicians and lawmakers support financial elite interests and demand that they change THEIR LOYALITES or impeach them.

6. Create and participate in building strong local communities; whenever possible give your hard earned dollars to local community business (not to corporate business.)

7. "Get Up, Stand Up, gather together and meet in our local communities and create a “new battlefield for democracy" in which all American fight to regain our individual self-respect and collective self confidence:
• Question Corporate Controlled Media/ especially Television
• Question Bureaucratization
• Question and avoid consumerism and advertising propaganda
• Question and avoid student loan debt and all other forms of indentured servitude
• Question all teaching methods that teach knee-jerk obedience to authority
• Restore our Constitutional by the people government and electoral system.

We Americans hold in reserve the power of our stubborn American desire for freedom, our relentless determination, our courage and solidarity. Only when we finally get mad enough…. can we reach out to each other to wisely select from - and implement - time-honored strategies and tactics that oppressed peoples have long used…. And institute a grassroots movement for reformation!

Join over 157 world wide concerned activists at SDGES Symposium-( communiversity.groupsite.com)
and help us discuss how we can implement these and other ideas to restore our "by the people, for the people government. At our symposium forum we try to assist each other to promote a grassroots movement and allegiance of community intention toward a sustainable humanitarian future. We seek to partner with multiple individuals, businesses and organizations to increase communication and to create venues to aid in a powerful economic and cultural transition and transformation of our global economy and to create a sustainable humanitarian future for all earths' children.


References and links
Zweig, Michael (2004) What's Class Got to do With It, American Society in the Twenty-first Century. ILR Press. ISBN 978-0-8014-8899-3
Revised govt formula shows new poverty high: 49.1M". Yahoo! News. November 7, 2011
"Poverty rate hits 15-year high". Reuters. September 17, 2010
"U.S. Census". United States Census. www.census.gov/compendia/...2s0709.pdf. Retrieved 25 January 2012.
"Census: U.S. Poverty Rate Spikes, Nearly 50 Million Americans Affected". CBS. November 15, 2012 U.S. Department of Health & Human Services, Accessed: 14 June 2012


Tue, March 19, 2013 - 6:44 PM — permalink - 0 comments - add a comment

TRUSTING OUR “LENDING INSTITUTIONS” IS AND WAS ALWAYS A FATAL MISTAKE

TRUSTING OUR “LENDING INSTITUTIONS” IS AND WAS ALWAYS A FATAL MISTAKE
Published by Catherine Bryan Ibarra; Wed, February 13, 2013 - 3:43 PM

The average American does have "a vague idea" that corporations (as well as the economic elite) use plenty of techniques for avoiding taxation; how many know that the proportion of Federal Income tax derived from Corporate income tax declined steadily from 32% in 1952; to 23% in 1960; to 17% in 1970; to a low of 9% in 1985?
Until intelligent middle class Americans all become informed as to the basic history facts and statistics required to get a grasp on how the current status quo of wealth and power are contributing to the progressive decline in most Americans' wellbeing and standard of living nothing is about how the status quo controls the purse-strings of America is likely to change. The growing deficit and the associated purported “trillion dollar banking industry losses” will be used as a tool to force continuing cuts in the standard of living of poor to middle class working Americans in the near future and for generations to come.
Americans must act together and abandon the notion that we are, “powerless to alter their deteriorating economic conditions, and stop being coerced into believing that those who control the wealth are “also feeling the pinch!”
America’s increasing and ever expanding capital gains tell us quite a different story; America is still the world’s wealthiest country and the false “pinch” or the recently fabricated “financial cliff” propaganda is the biggest lie ever disseminated by corporate controlled media. Nothing could be further from the truth !
For example using statistics taken from Forbes magazine's annual survey of America's billionaires expose the true reality. In 1982 there were 13 billionaires, in 1983...15; in 1984...12; in 1985...13; in 1986...26; in 1987...49 . In other words, the number of American billionaires had for many years hovered around 13, then the Reagan administration drastically altered the wealth distribution patterns by introducing tax changes favoring the super rich. In 1986 the number of billionaires DOUBLED, and by 1987 the number of billionaires had QUADRUPLED!!
By 1988 there were 68 individuals or families that each had net wealth in excess of $1,000,000,000. By 1989, the number had risen precipitously to 82. And by 1990, the Forbes survey reported the staggering total of 99!! These are the very individuals who fabricated and propounded the “financial cliff” theory to maintain their status quo of wealth and power.
Meanwhile on the other hand… average Americans are being subject to heavy increases in taxes concurrent with major cutbacks in every sector, including public services, health care and education while meanwhile a veritable explosion of wealth has been taking place and will continue to increase corporate wealth of the financial elite.
We all have reviewed new stories alerting us that the current economic crises has lead to increasing numbers of middle to lower class Americans being forced out of their homes and onto the streets by an unsympathetic pro bank pro-forcible eviction judiciary and understand that thousands of small to median size farmers and small business folk are being subject to loss of their farms and small businesses leading to increasing hunger and poverty. It is neither fate nor coincidence that these events all seem to be occurring simultaneously. Tremendous profits continue to flow into the corporate owned financial industry coffers as a direct and proximal result of a deliberately false and artificially contrived “American Financial Crises.”
Unless when and if these facts become accepted as "common knowledge", our American standard of living will continue to decline and the “Corporotocrasy” will continue to profit at our expense and maintain and increase their ever expanding wealth through maintaining a status quo of wealth power and unremitting control of the U.S. government and treasury.
THE RICHEST 1 (ONE) PERCENT OF AMERICANS possess more wealth than THE COMBINED WEALTH OF THE BOTTOM 90 (NINETY) PERCENT.
The financial elite are comprised of 1% of Americans
The financial elite owns more wealth than:
1) ALL of the wealth of ALL of the MIDDLE class
COMBINED WITH
2) ALL of the wealth of ALL of the LOWER class
AND ADDED TO
3) ALL of the wealth of the bottom HALF of the UPPER class

On the other hand …..the U.S. Census Bureau now acknowledges that 32.5 million Americans are living below the poverty level, and that less than a third receive government assistance! Perhaps the most tragic aspect of all is that in 1986, two million adults who are surviving below the poverty work full-time and often hold more than one job! How can an ethical government require its citizens to spend 40 -80 hours a week working to survive BELOW the poverty level? Surely, in the wealthiest country of the world this constitutes a true enslavement of the poor by the wealthy and should be considered as an offense to human dignity. Back in 1981, a full 36% of workers paid on an hourly basis received the minimum wage, or within a dollar of the minimum wage!! Statistics tell us that the hardest hit group is actually America's youth. Since 1973, the poverty rate for American’s under-30 group has nearly doubled to 22%. When considered with cutbacks to teachers and to our educational programs in every age group from elementary school children to college this situation is nothing short of a national disgrace!
Those working in a restaurant for minimum wage sometimes get to take home some of the leftovers, but if they make beds and empty urinals in a hospital, they probably couldn't afford to catch anything from the people they work around. Why? Because they would have to work for at least three weeks to pay for a single day's hospitalization. Medicare costs have risen an average of 8.5% per year since 1984. By 1987, more than 11 million children had no health insurance. What makes this situation even more shameful is that of the 37 million Americans who entered the 1990's with no medical coverage, the majority were employed!
The fact that health care is becoming an unaffordable luxury in America is made more evident when one becomes aware that America ranks 20th in infant mortality behind Spain and Singapore. The shocking truth is that almost 40,000 of the 3.8 million children born in America in 1986 died before their first birthday!!
The average American does have "a vague idea" that corporations (as well as the economic elite) use plenty of techniques for avoiding taxation; how many know that the proportion of Federal Income tax derived from Corporate income tax declined steadily from 32% in 1952; to 23% in 1960; to 17% in 1970; to a low of 9% in 1985?
A SHORT HISTORY OF OUR PRIVATELY OWNED FEDERAL RESERVE MONETARY SYSTEM.
During the latter half of the 1920s, steel production, building construction, retail turnover, automobiles registered, even railway receipts substantially advanced the wealth of U.S citizens. The combined net profits of 536 manufacturing and trading companies showed an increase, in fact for the first six months of 1929, of 36.6% over 1928, itself a record half-year. Iron and steel led the way with doubled gains.
Such figures set up a crescendo of stock-exchange speculation which had led hundreds of thousands of Americans to invest heavily in the stock market. A significant number of Americans grew excited by the prospects of building personal wealth through investments in this growing industries and began turning to banks to borrow money to buy stocks.
By August 1929, brokers were routinely lending small investors more than two-thirds of the face value of the stocks they were buying. Soon over $8.5 billion was out on loan, more than the entire amount of currency circulating in the U.S. at the time.
The rising share prices encouraged more people to invest; people hoped the share prices would rise further. Speculation thus fueled further rises and created an a falsely inflated “economic bubble” These speculative investments created a phenomena that should be labeled as “risky margin buying” because investors stood to lose large sums of money if the market unexpectedly turned down—or even failed to advance quickly enough. The average price to earnings ratio of S&P Composite stocks was 32.6 in September 1929, clearly above historical norms.
Good harvests had built up a mass of 250,000,000 bushels of wheat to be 'carried over' when 1929 opened. By May there was also a winter-wheat crop of 560,000,000 bushels ready for harvest in the Mississippi Valley. This oversupply caused a drop in wheat prices so heavy that the net incomes of the farming population from wheat were threatened with extinction. Stock markets are always sensitive to the future state of commodity markets and the slump in Wall-street predicted for May by Sir George Paish, arrived on time. In June 1929 the position was saved by a severe drought in the Dakotas and the Canadian West, plus unfavorable seed times in Argentina and Eastern Australia. The oversupply would now be wanted to fill the big gaps in the 1929 world wheat production. From 97c per bushel in May wheat rose to $1.49 in July. When it was seen that at this figure the American farmers would get rather more for their smaller crop than for that of 1928, up went stocks again and from far and wide orders came to buy shares for the profits to come.
Then in August the wheat price fell when France and Italy were bragging of a magnificent harvest and the situation in Australia improved. This sent a shiver through Wall Street and stock prices quickly dropped, but word of cheap stocks brought a fresh rush of 'stags,' amateur speculators and investors. Congress had also voted for a 100 million dollar relief package for the farmers, hoping to stabilize wheat prices. By October though, the price had fallen to $1.31 per bushel. The falling commodity markets in other countries told upon even American self-confidence, and the stock market started to falter. On October 24, 1929, with the Dow just past its September 3 peak of 381.17, the market finally turned down, and a new phenomena called “panic selling” started. This great “crash” led to more panics and soon everyone begin running to their banks to withdraw all of their money before it was too late. The fact that banks had been lending massive amounts of “artificial non-gold backed money” lead to the failure of many banks and huge losses of savings for many people. This roller coaster of personal finance lasted for many years and throughout the Great Depression of the 1930s.
This great “crash” led to more panics and soon everyone begin running to their banks to withdraw all of their money before it was too late. The fact that banks had been lending massive amounts of “artificial non-gold backed money” lead to the failure of many banks and huge losses of savings for many people. This roller coaster of personal finance lasted for many years and throughout the Great Depression of the 1930s.
In 1934, Congress gave control of our monetary system and production of money over to a privately owned entity called the, “Federal Reserve” which was originally enacted to ensure insurance coverage of $2,500 per depositor, to improve the security of banks and reduced the number of bank failures. (Almost 4,000 between 1933 and 1934.) This private entity was created by and is basically owned and operated in collaboration by these same banks whose dilatory lending practices caused the Great Depression of the 1930.s
The “Federal Reserve” unilaterally authorized by our government to control our U.S. treasury by pumping more and more money into the U.S. economy without any connection at all to the amount of goods and services being produced in our country. As a result, our standard of living e.g. the amount of goods and services we can buy with a dollar we earn with our hard work keeps goes down.– Since the Federal Reserve took control of the U.S. treasury, the U.S. dollar has lost more than 96% of its purchasing power. One dollar in 1913 is now worth only 4 cents.

The end result of allowing this privately owned and operated entity to control the U.S. treasury and print and produce money at will, is that it perversely operates to perverse and foster its own financial strength and agenda.
This is how it came to be that our current economy has been taken over by a rigged system developed to protect the interests of the very same banks who lent money they never had that led to this nations Great Depression of the 1930s. The U.S. dollar now supposed to be protected not by gold deposits at all but rather by these bank legal ability to leverage encumbered property through our legal tender and forcible eviction laws that are currently backed by the judiciary, and by national and local law enforcement (e.g.) our local sheriffs. This ensures that the bankers who caused the crash by loaning money they never had in their rightful possession can continue to massively increase their profitability at American taxpayers expense, through bailout combined with a free-hand in repossession of American taxpayers homes and property without having back the money they are lending out with any actual gold. ( see 'THE CREATURE FROM JEKYLL ISLAND' by G. Edward Griffin is a writer and documentary film producer well known because of his unique talent for researching difficult topics and presenting them in clear terms that the Average person can understand. This


Important research belongs in the personal library of every American who truly cares about his or her country (regardless of political party affiliation); by rousing the people of this nation from the ignorance of deep sleep, it has the potential to be the silver bullet or the stake through the heart of America's worst disaster The Federal Reserve Monetary System!

“Inflation” – something Federal Reserve Fed is very good at creating and something that has serious consequences for everyone. It means today’s hard-earned money will be worth less tomorrow. Some even call it a special hidden “tax” on the American people
Not only the U.S. but virtually the entire world economy is staggering; verging on free-fall collapse, taking the well-being and lives of billions of hard working people down with it.
The Federal Reserve is perhaps the most important part of our government to transform because the way the money system works directly impacts each and every person’s job, home, family and community. Creating centralized banks, a system that requires debt and makes up money out of nothing, has allowed the international banking elite to gradually turn almost the entire world into a population of debt-slaves. Exposing and eliminating this system – and replacing it with an honest and open one - can provide the critical turning point toward creating a world where the rights of the individual to live and proper are held over the rights of corporations.
Currently the 12 controlling regional “Reserve Banks” act as the “service division” of the Federal Reserve -- they carry out the monetary policy set by the privately owned Federal Reserve Board and control, regulate and supervise all their subordinate financial institutions. The agency that charters the bank is also responsible for conducting on-site examinations to make sure the bank is complying with banking laws. That "FDIC" logo you see as you walk in the door is the tell tale sign that the bank you are doing business with is controlled by the Federal Reserve.


After the Economic Crises imploded in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. Also a huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent of American, who now make an average of $27 million per household per year. In the meantime average income for the bottom 90 percent of American dropped to $31,244 year. By contrast our Nations Great Recession caused a drop of 36.1% in median household income further widening the gap between Americas' very rich and everyone else.
Meanwhile as our nation's poor and middle class are progressively more deeply financially challenged our nation's wealth has been gradually more and more concentrated into the hands of America's 1% most wealthy with the richest 1% of Americans owning over a third of America's wealth. Today, top American executives are paid an average of $4.9 million each, and executives at the largest companies are paid more than 4 times what they were in the 1970s, meanwhile during this same period, the average American worker saw their pay gradually decrease by over 10%. Statistics tell us that In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes. The top 1%, in contrast, had just 10%.
Americans who wish to preserve our political social autonomy and reverse the downward spiral of our national economy must first of all look to demanding essential audits and dilution of the powerful and corrupt Federal Reserve Monetary System. This privately owned system is exclusively owned, operated and completely controlled by a powerful and self-serving financial elite comprised of this nations Billionaires that basically utilizes the power of Federal Reserve to control the purse strings of the American Monetary System as they similarly control many of our nations law-makers through their very, very powerful Washington lobbyists.

Statistics provide a comprehensive story of how and why the billionaire sector loosely identified as “the Financial elite” designed self-serving and ingenious strategies facilitating our current housing and economic crises for the purpose of dramatically increasing their share of total net worth. Our nations superrich, "the financial elite,” basically control elections through massive contributions to politicians who support their financial interests so they may be easily enabled to influence and control most of the policy making in of our government.
After the Economic Crises imploded in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. Also a huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent of American, who now make an average of $27 million per household per year. In the meantime average income for the bottom 90 percent of American dropped to $31,244 year.
It's time for Americans to reach out and demand that Congress stop this endless pillage of our tax dollars. Talk about exceeding an "unlimited budget". . . The Federal Reserve just keeps on printing more money and adding to non-rich Americans tax burden and escalating the core problem - the worsening economic and related housing crises that has been disastrous for millions of American families all over the country, causing increasing damaging the economic future of the majority of our Americans and their children and grandchildren for 10 generations to follow.

The U.S. Constitution proclaims itself to be the "supreme Law of the Land" (see Article VI), and Article I, Section VIII of the Constitution states that "The Congress shall (Constitutionally speaking, "shall" has been legally defined as "must")...coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures." Why Congress? Because it is answerable to the People it represents!
Remember, our Constitutional Republic was intended by our founding forefathers as a tool to protect our rights to a self-represented government! Americans must stop listening to corporate controlled media (propaganda) and seek to get a good grasp on how the privately owned federal reserve monetary systems uses control of “cash flow” to control our U.S. treasury and numerous other countries monetary systems to control all the worlds’ major financial systems.

FOOTNOTES
The Creature from Jekyll Island: A Second Look at the Federal Reserve; G. Edward Griffin is a writer and documentary film producer with many successful titles to his credit. Listed in Who's Who in America, he is well known because of his unique talent for researching difficult topics and presenting them in clear terms that all can understand. He has dealt with such diversified subjects as archaeology and ancient earth history, international banking, internal subversion, terrorism, the history of taxation, U.S. foreign policy, the science and politics of cancer therapy, the Supreme Court, and the United Nations. Some of his better known works include The Discovery of Noah's Ark, Moles in High Places, The Open Gates of Troy, No Place to Hide, World Without Cancer, The Life and Words of Robert Welch, The Capitalist Conspiracy, The Grand Design, The Great Prison Break, and The Fearful Master. His most recent book is entitled The Creature From Jekyll Island: A Second Look At The Federal Reserve.


MEMBER OF THE FINANCIAL ELITE YOU SHOULD BE FAMILIAR WITH
Campaign Donor Sheldon Gary Adelson is an American business magnate and the chairman and chief executive officer of the Las Vegas Sands Corporation, the parent company of Venetian Macao Limited which operates The Venetian Resort Hotel Casino and the Sands Expo and Convention Center. Adelson owns the Israeli daily newspaper Israel HaYom, and is listed in the Forbes 400 as the eighth wealthiest American, with a personal wealth is estimated to be $24.9 billion as of March 2012.
Mandatory records of Campaign Contributions tell us that literally billions of dollars have been poured into the political campaigns of presidential hopeful, Mitt Romney and other political hopefuls from different parties. ( see www.washingtonpost.com/busine...y.html)
Rep. Darrell Issa (R-Calif.) $451.1 million Rep. Jane Harman (D-Calif.) $435.4 million; Rep. Vern Buchanan (R-Fla.) $366.2 million; Sen. John Kerry (D-Mass.) $294.9 million; Rep. Jared Polis (D-Colo.) $285.1 million; Sen. Mark Warner (D-Va.) $283.1 million; Sen. Herb Kohl (D-Wisc.) $231.2 million; Rep. Michael McCaul (R-Texas) $201.5 million; Sen. Jay Rockefeller (D-W.Va.) $136.2 million; Sen. Dianne Feinstein (D-Calif.) $108.1 million.
How The Elite Exploits our Nation
Techniques such as exporting America's manufacturing base, and importing labor willing to work for the minimum wage or less, are but the tip of the iceberg of methods used by the elite to make themselves richer while at the same time actively keeping America's bottom 90% unorganized, subservient, and basically poor.

TAX LAWS - THE KEY TO WEALTH AND POWER
To the degree one would wish to help improve the quality of life within American society, one must acknowledge the role played by the existing laws, and in particular the tax laws.
Tax laws, more than any other factor, determine the socioeconomic nature of a society. In American society, the top 1% always own more assets than the bottom 90%. Tax laws ensure that American society remains securely locked into a social structure based on wealth distribution inequities that have changed little since the feudal Middle Ages. Presidents frequently escape the nation's scorn by raising payroll taxes instead of income taxes. By 1990, payroll taxes will have risen by 30% since 1978, and the majority of the country will be paying more in payroll taxes than they do in income taxes. Of course, the bottom 90% as usual are hit the hardest, but they are generally not yet wise to the switch that has taken place, so the deceit continues at full bore.

ROBBING THE POOR INSTEAD OF TAXING THE RICH
Our present day corporation owners basically use feudal methods to avoid taxation have gone on without interruption from Feudal times. (for more statistics see www.mindmined.com/public_li...lism.html)
American corporations choose to carry on modern day colonial exploitation building foreign factories with the help of our corporate tax deduction laws, ...at the American taxpayers expense, and all to the detriment of the taxpayer's standard of living.
To add insult to injury, the head offices of many financial elite owned entities are located in playboy tax havens such as the Bahamas to avoid taxation, thereby depriving the American taxpayer of getting any benefit at all from having initially paid for the foreign factories. The fact that so many oil tankers owned by the elite are registered in Liberia and not in America (to avoid taxation) should be a topic of concern to those who are being forced to take pay cuts and tighten their belts! To get an idea of the substantial nature quantity of tax avoidance loopholes that have been created to protect the interests of the financial elite in America today, one has only to read a few issues of Forbes, a magazine which caters to their needs and interests.
Every year Forbes magazine compiles a list of the world's richest people, as well as a list of the 400 richest Americans. In its July 24th 1989 issue, the magazine clarified some of the methods it used in determining the wealth of those who qualified to be included in its listings. Part of the explanation it provided is worth quoting:
"Since wealth abroad is sometimes held in complicated ways designed to retain control or bypass various taxing authorities, we count property owned if it is involved in obvious devices for ownership, like family holding companies, or cross-ownership, and sometimes less obvious ones, like certain foundations designed merely for tax avoidance."
In practically every issue, Forbes "exposes", or at any rate acquaints the reader with, one or more additional schemes devised by clever tax accountants or investment managers to avoid taxation. No doubt each issue must send the super rich scurrying off to call their accountants to ensure that they are not missing out on the very latest loopholes.
One would expect that reading about tax avoidance loopholes for the privileged class could very well upset or anger the average American who for the most part doesn't make enough money to take advantage of the loopholes discussed. But there is little danger of that. Editors in charge of mass media information sources like newspapers and TV news shows very rarely devote any attention at all to this type of material. In contrast, Forbes editors obviously feel free to flaunt it because the magazine is read almost exclusively by the economic elite, and those who aspire to join their ranks. It is alleged that the average worth of Forbes readers is 1.4 million dollars, and that at least 250,000 of its 750,000 subscribers are millionaires.
Some experts and analysts believe that our political passivity and resistance to creating reform is solely ignorance and brainwashing resulting from by corporate media controlled propaganda. Other experts claim that political passivity is caused by most American’s inability to organize due to a simple lack of money. However, polls on the important issues of our day - from senseless wars, to Wall Street bailouts, to corporate tax-dodging, to health insurance rip-offs – tell us that the majority of Americans are not ignorant of whose to blame for their current economic whose; and American history is replete with examples those who are willing to stand up and fight for our freedom from the current corporate stranglehold- from the Underground Railroad, to the Great Populist Revolt, to the Flint sit-down strike, to large wildcat strikes a generation ago – all inspirational stories of activists who had little money but lots of guts determination and solidarity.
On one hand we have a dedicated and highly sophisticated core group of financial elite players who use all their powerful Washington Lobbyists resources and spend their lives stockpiling and protecting their money. These individuals believe they own sufficient resources and political power to terrorize, bribe, confuse divide and conquer all the rest of us.
The only way we can actually overcome their power to simply realize they cannot stay profitable of wield any power without our cooperation.
Let's not take anymore! Let's Demand an Audit of the Fed Reserve before they throw away any more of our tax dollars and create reform to stop the financial elite in their tracks.

SEVEN SIMPLE STEPS TO TAKE OUR POWER BACK
1. Do not put our money in their banks

2. Do not use or let your children use their credit cards.

3. Strive to Live within our means and borrow no further false money from these ABUSIVE institutions

4. Demand that our local and national politicians support the interests of the people
……NOT THE financial elites interests!

5. Keep track of which politicians and lawmakers support financial elite interests and demand that they change THEIR LOYALITES or impeach them.

6. Create and participate in building strong local communities; whenever possible give our hard earned dollars to local community business not to corporate business.

7. "Get Up, Stand Up, gather together and meet in our local communities and create a “new battlefield for democracy" in which all American fight to regain our individual self-respect and collective self confidence:
• Question Corporate Controlled Media/ especially Television
• Question Bureaucratization
• Question and avoid consumerism and advertising/propaganda
• Question and avoid student loan debt and all other indentured servitude
• Question teaching methods that teach knee-jerk obedience to authority
• Restore our Constitutional by the people government and electoral system.

We Americans hold in reserve the power of our stubborn American desire for freedom, our relentless determination, our courage and solidarity. Only when we finally get mad enough…. can we reach out to each other to wisely select from - and implement - time-honored strategies and tactics that oppressed peoples have long used…. And institute a grassroots movement for reformation
Wed, February 13, 2013 - 3:43 PM — permalink - 0 comments - add a comment

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At our SD Empowerment Forum we seek ways to assist each other to promote a grassroots movement and allegiance of community intention toward a sustainable humanitarian future.
We seek to dialogue with concerned intelligent individuals to aid in a powerful economic and cultural transition and transformation of our culture, society and economy to create a sustainable humanitarian future for all earths' children.
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Sat, February 9, 2013 - 2:31 PM — permalink - 0 comments - add a comment

Today we should all quickly review Martin Luther King Jr. 's views on economic justice.

Martin Luther King, Jr. is one of the most symbolic, most loved and most tragic of figures in American history. In honor of 2012's Martin Luther King, Jr. Day, we should take a look back at his life and review some of his priorities.
April 4, 1968: Martin Luther King Jr. was Assassinated in
Memphis, Tennesse. His purpose for going there was to draw attention to the struggles of a group of sanitation workers, their wages and work conditions. In the decades since the King assassination; , wages have stagnated, union membership has plummeted and the Great Recession pushed poverty and hunger to unprecedented levels.
(see www.youtube.com/watch

Now nearly 45 years after his death, Martin Luther King Jr. commitment to eradicating poverty and the human indignity that often follows ranks among the least understood and most misquoted and manipulated aspects of his life and work. Today, according to the most recent census data- 46.2 million Americans ( over 15% of our population) live in poverty. Also Global and local hunger are dramatically increasing for the last ten years approaching unprecedented levels ; (according to the World Hunger Organization.)
(See www.youtube.com/watch
(See www.youtube.com/watch

In light of these factors a review of the goals King expressed before his death including his astute analysis of what must be done to eradicate the indignities of hunger and poverty has become especially pertinent; especially since our financial elite controlled Congress seems to be strongly focusing our government and lawmakers on “financial cliff issues” basically for the purposes of avoiding a fair share of taxes for the wealthy and concurrently increasingly opposes spending on social services and/or government programs designed to control or eradicate hunger and poverty.

Martin Luther King Jr. was not just our foremost and most eloquent warrior against racial inequity he significantly evolved from his career as a civil rights activist to a persuasive anti-poverty crusader. (According to Lewis V. Baldwin, a professor of religious studies at Vanderbilt University who has written and edited seven books about King.)
“There’s this tendency to freeze Dr. King on the steps of the Lincoln Memorial, where he delivered the 'I Have a Dream,' speech,” said Baldwin. “But King’s concern, his activism, went well beyond this call for integration to build and focus on this issue on economic justice and the issue of international peace.”
By 1968, King had led intensive efforts to integrate public facilities and give African Americans full access to the ballot, and had delivered one of the most iconic speeches of the 20th Century on the steps of the Lincoln Memorial.
Meanwhile he had reached a dispiriting conclusion, (Kotz said) As long as poverty continued to hold a tight grasp on the lives of 38.6 million people -– 22 percent of Americans -- the ability to ride a bus or train and sit where space was available, to eat at a lunch counter, drink from public water fountains and vote had limited meaning.
In 1968, King began criticizing the Johnson administration and the Vietnam War, officially launched “ The Poor People’s Campaign, ” demanding $30 million for anti-poverty programs and 500,000 affordable housing units and making plans for peaceful civil disobedience against conditions contributing to hunger and poverty.

In 1968 King’s, commitment to reducing economic inequality meant speaking publicly about president Johnson’s shifting priorities, and challenging private landlords and city governments that shortchanged poor communities with lower-quality services like trash pickup, building inspections and street-cleaning.
King was a strong and very vocal an advocate of government policies that would increase employment and of laws mandating that employers pay living wages, and utterly opposed “right to work” laws.

An individual has not started living until he can rise above the narrow confines of his individualistic concerns to the broader concerns of all humanity.
Martin Luther King, Jr.


A nation that continues year after year to spend more money on military defense than on programs of social uplift is approaching spiritual doom.
Martin Luther King, Jr.


Human progress is neither automatic nor inevitable... Every step toward the goal of justice requires sacrifice, suffering, and struggle; the tireless exertions and passionate concern of dedicated individuals.
Martin Luther King, Jr.
Mon, January 21, 2013 - 4:50 PM — permalink - 0 comments - add a comment

Here we are at 12/12/12

Numbers fans have likely already noticed that today is 12/12/12, which is an interesting date by its numbers alone. 12-12-12 also happens to be part of the title for the concert for Sandy relief, which is airing on numerous channels tonight. And will feature performances by the Rolling Stones, Bon Jovi, Eric Clapton, Dave Grohl, Billy Joel, Alicia Keys, Chris Martin, Bruce Springsteen & the E Street Band, Roger Waters, Eddie Vedder, Kanye West, The Who and Paul McCartney.

HBO isn't the only channel carrying the concert. Far from it, in fact. 12-12-12: The Concert For Sandy Relief will be broadcast on AMC, IFC, Showtime 2, Encore, ION, MSG, Hallmark and FEARnet, among numerous other channels. It'll also be available streaming online at Hulu, Crackle, EW.com, People.com and AOL, and a number of other websites. Additional channels (U.S. and international), websites and local movie theaters. (www.121212concert.org/broadcast)


The Ancient Mayan calendar speaks of 12-12-2012 as the end of times as we know it, and the beginning of a new cycle of evolution for planet earth, humanity and the cosmos. Mayan elders say that the Ancients were informing the modern world to be ready for a giant transformation for the human race.
Interestingly, traditions across the world including Buddhism, Tao, Hopi and Vedic knowledge predict a ‘Golden Age’ or ‘Satyug’ in their calendars around the same period. December 2012 is being looked upon as a significant spiritual event and a momentous shift in the collective consciousness of the planet.

Many mystics and philosophers of every belief system predict 12-12-12 as a new cycle for transformation and healing of human cultures and societies on a local and global levels. It is also predicted that mystical and physical forces may now bring increasing opportunities a closer relationship between humans with earth energies on a personal level.
Wed, December 12, 2012 - 10:51 AM — permalink - 0 comments - add a comment

Justice may well hang in the balance.

It is well recognized that Supreme Court Justices frequently time their retirements so that they are replaced by a President who will more closely match their political views.
If Americans are to have any chance to restore a "by the people government" where an individuals constitutional rights are upheld and not sacrificed to corporate interests the Supreme Court appointments over the next four years may prove critically important!

We must consider that Justice Scalia just turned 78
Justice Kennedy will turn 78 later this year
Justice Breyer will be 76 in August
Justice Ginsburg turned 81 about a week ago. In addition, Justice Ginsburg is reportedly quite ill.
Justice Stephens has already said he would retire and is just waiting for Obama to be reelected.

The next president could appoint as many as 5 new Justices over the next
four years.During the 109th Congress, then-Senator Obama voted against both of President George W. Bush's nominees to the Supreme Court. In a speech announcing his opposition to John Roberts, Obama stated:
"The problem I face ... is that while adherence to legal precedent and rules of statutory or constitutional construction will dispose of 95 percent of the cases that come before a court so that both a Scalia and a Ginsburg will arrive at the same place most of the time on those 95 percent of the cases – what matters on the Supreme Court is those 5 percent of cases that are truly difficult. In those 5 percent of hard cases, the constitutional text will not be directly on point.... In those circumstances, your decisions about whether affirmative action is an appropriate response to the history of discrimination in this country or whether a general right of privacy encompasses a more specific right of women to control their reproductive decisions, ... in those difficult cases, the critical ingredient is supplied by what is in the judge's heart.... The problem I had is that when I examined Judge Roberts' record and history of public service, it is my personal estimation that he has far more often used his formidable skills on behalf of the strong in opposition to the weak.'
In explaining his opposition to Samuel Alito, Obama further evaluated the qualities he found important in a Supreme Court justice:

"I have no doubt that Judge Alito has the training and qualifications necessary to serve. He's an intelligent man and an accomplished jurist. And there's no indication he's not a man of great character. But when you look at his record – when it comes to his understanding of the Constitution, I have found that in almost every case, he consistently sides on behalf of the powerful against the powerless; on behalf of a strong government or corporation against upholding Americans' individual rights."
Justice Scalia is recently quoted as stating “Of course I would not like to be replaced by somebody who sets out immediately to undo”.

The overall balance of the Court will tend to shift in a substantial way when one party manages to control the Presidency for long enough that the Justices on the other side can’t pick a friendly Administration in which to resign.
Many Justices see themselves as being on a “side” in the sense that one party’s nominees are likely to view the world like they do while the other party’s nominees won’t.







Sat, October 27, 2012 - 5:36 PM — permalink - 0 comments - add a comment

Mitt Romney's answer to Gender Pay Equity

Just as Republican presidential candidate Mitt Romney had the Obama campaign sweating it out a little over a possible narrowing of the electoral gender gap, the former Massachusetts Governor swooped in at Tuesday night’s debate to hand that advantage back to President Obama. Asked what each candidate would do to ensure gender pay equity, Romney delivered a response that included nothing about pay equity, but did include a lie about “binders full of women,” and a reference to women needing “flexibility” in the workplace so they can be home to make dinner.

The question, from attendee Katherine Fenton, was “In what new ways to you intend to rectify the inequalities in the workplace, specifically regarding females making only 72 percent of what their male counterparts earn?”

The question was a big, fat hanging curveball for President Obama, who knocked it into the bleachers with ease, citing the Lilly Ledbetter Fair Pay Act, along with support for education. Frankly, there would have been little excuse had he not hit that question a mile.

Governor Romney, for some reason, decided to completely ignore the question about pay equity, a bewildering choice given that he (eventually, through a spokesperson) staked out a position broadly in favor of it. All he had to do was throw the phrase “I support pay equity” somewhere into the salad, and he might have gotten away with a few female voters. He did not.

Instead, Romney gave an answer that could hardly have been worse had he let me write it for him. First, he told a story about assembling his cabinet as Massachusetts Governor that underscored his complete ignorance of the subject. In 2002, at the age of 55, Mitt Romney just got around to noticing that women were underrepresented in positions of power. “…I had the chance to pull together a cabinet and all the applicants seemed to be men,” he noted, quizzically.

“And I went to my staff, and I said, ‘How come all the people for these jobs are — are all men.’ They said, ‘Well, these are the people that have the qualifications.’ And I said, ‘Well, gosh, can’t we — can’t we find some — some women that are also qualified?’”

Gosh, I don’t know, do such beasts exist?

“And so we — we took a concerted effort to go out and find women who had backgrounds that could be qualified to become members of our cabinet,” he continued, then added “I went to a number of women’s groups and said, ‘Can you help us find folks,’ and they brought us whole binders full of women.”

Aside from sounding like the trophy fetish for some character in a Dexter story arc, the phrase “binders full of women” has become a global phenomenon, a snappy, absurd shorthand for Mitt Romney’s Mad Men-era views on women in the workplace. As horrible as that story is in responding to a question about pay equity, it turns out it isn’t even true. Romney says he “went to a number of women’s groups and said, ‘Can you help us find folks,’” but what actually happened was that a number of women’s groups got together, Voltron-style, to form the Massachusetts Government Appointments Project (or MassGAP) to pressure governors to appoint more women. Here’s what they did:

In 2002 MassGAP had tremendous success in getting all of the gubernatorial candidates to agree to improve the proportion of women appointees if elected. The MassGAP founders presented Governor Romney with a book of résumés of eligible women candidates that had been researched and recommended by MassGAP. Governor Romney appointed several candidates from this list, increasing the gender parity in Massachusetts. The project was so successful that he was awarded the 2005 Exemplary Leadership Award by the National Women Republican’s Club. Governor Romney credited his ability to appoint so many women to top leadership positions to the efforts of MassGAP.

They approached him (and every other candidate for governor) and gave him the binder in question.

So far, not a great response to a very specific question, but hey, at least he didn’t toss out any stereotypes about womenfolk and their child issues, or (chortle) cooking dinner. We can get through this:

“Now one of the reasons I was able to get so many good women to be part of that team was because of our recruiting effort. But number two, because I recognized that if you’re going to have women in the workforce that sometimes you need to be more flexible. My chief of staff, for instance, had two kids that were still in school. She said, I can’t be here until 7 or 8 o’clock at night. I need to be able to get home at 5 o’clock so I can be there for making dinner for my kids and being with them when they get home from school.”

Mitt Romney: no equal pay, but he’ll get you home in time to cook dinner.

Because Romney failed to make the easy-as-kittens declaration that “I support equal pay,” President Obama was able to come back and hit him on his campaign’s initial refusal to answer a question about the Lilly Ledbetter Act. “I just want to point out that when Governor Romney’s campaign was asked about the Lilly Ledbetter bill, whether he supported it? He said, ‘I’ll get back to you.’ And that’s not the kind of advocacy that women need in any economy.”

He then proceeded to beat Romney up over women’s health issues, even forcing Romney to completely reverse his position on contraception. After Romney was asked the next question, he doubled back to the contraception issue to say “I’d just note that I don’t believe that bureaucrats in Washington should tell someone whether they can use contraceptives or not. And I don’t believe employers should tell someone whether they could have contraceptive care of not. Every woman in America should have access to contraceptives. And — and the — and the president’s statement of my policy is completely and totally wrong.”

(enter this link to read full transcript and see related fox news clip at
www.mediaite.com/online/mi...ok-dinner/
Wed, October 17, 2012 - 8:17 PM — permalink - 0 comments - add a comment

Obama and Warren

Consumer advocate Elizabeth Warren's scholarship and political career makes it clear she is seriously dedicated to protecting working families finances; she is widely credited for the original thinking, political courage, and relentless persistence that led to the creation of a new consumer financial protection agency, the Consumer Financial Protection Bureau.

Warren led the establishment of the agency, building the structure and organization to hold accountable even trillion-dollar financial institutions and to protect consumers from financial tricks and traps often hidden in mortgages, credit cards and other financial products and is probably our Nation's strongest advocate of consumer protection against predatory lending and servicing, illegal securitizations and other Wall Street abuses that have vastly contributed to this Nations current and ongoing economic woes.

TIME magazine has called Warren a "New Sheriff of Wall Street" and has twice included her among America's 100 most influential people. She's taken on big banks and financial institutions and won historic new financial protections for middle class families. Elizabeth has been a law professor at Harvard for nearly 20 years and has written nine books, including two national best-sellers, and more than a hundred articles. National Law Journal named her one of the Most Influential Lawyers of the Decade, and she has been honored by the Massachusetts Women's Bar Association with the Lelia J. Robinson Award.
In the aftermath of the 2008 financial crisis, Elizabeth served as Chair of the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP). Her independent and tireless efforts to protect taxpayers, to hold Wall Street accountable, and to ensure tough oversight of both the Bush and Obama Administrations won praise from both sides of the aisle. The Boston Globe named Elizabeth Bostonian of the Year in 2009 for her oversight efforts.
Obama and Romney significantly differ on their policies for Wall Street regulation

Wall Street abuses are largely blamed for the 2007-'08 financial crisis that led to the Great Recession, hedge fund managers living the life of Gatsby while millions lose their homes, and banks moving trillions of dollars around the globe in mystifying ways.

According to Mitt Romney, with a Wall Street pedigree himself, efforts to rein in the financiers with regulation piled on regulation are an attack on "economic freedom."

In opposition President Obama, (who often refers to the pin-striped set as "fat cats,)" cites a need for regulations that make it "more profitable to play by the rules than to game the system."

For this reason In July 2010, President Obama signed into law this 848-page effort by Congress to prevent another breakdown in the financial system.

The legislation required banks to increase their capital, enacted mortgage reform, gave greater oversight of Wall Street to various federal agencies, and set up a Bureau of Consumer Financial Protection, ( to be headed by Elizabeth Warren) among other provisions. Complying with this law will cost the eight largest US banks $22 billion to $34 billion annually, according to a recent analysis by Standard & Poor's.

Elizabeth Warren has taken criticism from her supporting Independent Parties for her full-fledged backing of Obama in his bid for re-election to ensure Mitt Romney is defeated so that Americans have a chance to see some protection against Wall Street and Federal Reserve abuses.
Although I have many serious problems with numerous strategies of the Obama administration I must concur with Warren! We must keep Mitt Romney out of office to avoid further looting of the American people by the financial elite, and then hold Obama accountable to serve the interests of THE PEOPLE NOT THE INTERESTS OF WALL STREET!

MORE ABOUT WARREN
Academic career
Throughout the late 1970s and the 1980s and 1990s, Warren taught law at several universities throughout the country, while researching issues related to bankruptcy and middle-class personal finance.[13] Warren taught at the Rutgers School of Law-Newark from 1977-1978, the University of Houston Law Center from 1978-1983, and the University of Texas School of Law from 1981-1987, in addition to teaching at theUniversity of Michigan as a visiting professor in 1985 and as a research associate at the University of Texas at Austinfrom 1983-1987.[citation needed]
She joined the University of Pennsylvania Law School in 1987, becoming a tenured professor. She began teaching at Harvard Law School in 1992 as a visiting professor, and began a permanent position as Leo Gottlieb Professor of Law in 1995.[16]
In 1995 Warren was asked to advise the National Bankruptcy Review Commission. She helped to draft the commission's report and worked for several years to oppose legislation intended to severely restrict the right of consumers to file for bankruptcy. Warren and others opposing the legislation were not successful; in 2005 Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.[17]
From November 2006 to November 2010, Warren was a member of the FDIC Advisory Committee on Economic Inclusion.[18] She is a member of the National Bankruptcy Conference, an independent organization which advises the U.S. Congress on bankruptcy law.[19]She is a former Vice-President of the American Law Institute and a member of the American Academy of Arts and Sciences.[20]
Public life
Warren has had a high public profile; she has appeared in the documentary films Maxed Out and Michael Moore's Capitalism: A Love Story.[21] She has appeared numerous times on TV programs including Dr. Phil and The Daily Show,[22] and has frequently been interviewed on cable news networks, radio programs, and websites.
Books and other works
Warren has written several books, including All Your Worth: The Ultimate Lifetime Money Plan, coauthored with her daughter, Amelia Tyagi.
Warren and Tyagi wrote The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke. Warren and Tyagi point out that a fully employed worker today earns less inflation-adjusted income than a fully employed worker did 30 years ago. Although families spend less today on clothing, appliances, and other consumption, the costs of core expenses such as mortgages, health care, transportation, and child care have increased dramatically. The result is that even with two income-earners, families are no longer able to save and have incurred greater and greater debt.[23]
In an article in The New York Times, Jeff Madrick said of Warren's book:
The authors find that it is not the free-spending young or the incapacitated elderly who are declaring bankruptcy so much as families with children... their main thesis is undeniable. Typical families often cannot afford the high-quality education, health care and neighborhoods required to be middle class today. More clearly than anyone else, I think, Ms. Warren and Ms. Tyagi have shown how little attention the nation and our government have paid to the way Americans really live.[24]
Writing in Time magazine, Maryanna Murray Buechner said of Warren's book:
For families looking for ways to cope, Warren and Tyagi mainly offer palliatives: Buy a cheaper house. Squirrel away a six-month cash cushion. Yeah, right. But they also know that there are no easy solutions. Readers who are already committed to a house and parenthood will find little to mitigate the deflating sense that they have nowhere to go but down.[25]
In 2005, Warren and David Himmelstein published a study on bankruptcy and medical bills,[26] which found that half of all families filing for bankruptcy did so in the aftermath of a serious medical problem. They say that three quarters of such families had medical insurance.[27] This study was widely cited in policy debates, though some have challenged the study's methods and offered alternative interpretations of the data, and suggested that only seventeen percent of bankruptcies are directly attributable to medical expenses.[28]
Economic official
TARP oversight
On November 14, 2008, Warren was appointed by United States Senate Majority Leader Harry Reid to chair the five-memberCongressional Oversight Panel created to oversee the implementation of the Emergency Economic Stabilization Act.[29] The Panel released monthly oversight reports that evaluate the government bailout and related programs.[30] During Warren's tenure, these reports covered foreclosure mitigation, consumer and small business lending, commercial real estate, AIG, bank stress tests, the impact of theTroubled Asset Relief Program (TARP) on the financial markets, government guarantees, the automotive industry, and other topics.[a]
Consumer Financial Protection Bureau


Warren stands next to President Barack Obama as he announces the nomination of Richard Cordray as the first director of theConsumer Financial Protection Bureau during a statement at the White House.
Warren has long advocated the creation of a new Consumer Financial Protection Bureau. The bureau was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law by President Obama in July 2010. For the first year after the bill's signing, Warren worked on implementation of the bureau as a Special Assistant to the President in anticipation of the agency's formal opening. While liberal groups and consumer advocacy groups pushed for Obama to nominate Warren as the agency's permanent director, Warren was strongly opposed by financial institutions which had criticized Warren as overly aggressive in pursuing regulations, and by the Republican members of Congress.[citation needed] In July 2011, Obama announced the nomination of former Ohio Attorney General Richard Cordray as the bureau's director.[31][32] However, his nomination was blocked by a Republican-led filibuster in the Senate. Without a director, the agency could not supervise non-bank financial companies or write new regulations. On 4 January 2012, over the objections of Republican senators, President Obama appointed Cordray as the Bureau's Director in a "recess appointment".[33][34]
2012 U.S. Senate run
See also: United States Senate election in Massachusetts, 2012
On September 14, 2011, Warren declared her intention to run for the Democratic nomination for the 2012 election in Massachusetts for the United States Senate seat currently held by Republican incumbent Scott Brown.[35][36] A week later, a video of Warren speaking inAndover gained attention on the Internet and became a viral video.[37] In it, Warren rebuts the charge that asking the rich to pay more taxes is "class warfare", pointing out that no one grew rich in America without depending on infrastructure paid for by the rest of society.[38][39]
"There is nobody in this country who got rich on his own - nobody. ... You moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did. Now look, you built a factory and it turned into something terrific, or a great idea. God bless - keep a big hunk of it. But part of the underlying social contract is, you take a hunk of that and pay forward for the next kid who comes along."
Barack Obama echoed her sentiments in a speech later in 2012.[40][41]
Warren ran unopposed for the Democratic nomination, and won it on June 2, 2012 at the state Democratic convention with a record 95.77% of the votes of delegates.[42] She has been endorsed by Governor of Massachusetts Deval Patrick.[43] Warren and her opponent Scott Brown have agreed to engage in four televised debates, including one with a consortium of media outlets in Springfield and one onWBZ-TV in Boston.[44]
Warren received a primetime speaking slot at the 2012 Democratic National Convention, immediately before Bill Clinton on the evening of September 5, 2012. Warren positioned herself as a champion of a beleaguered middle class that "has been chipped, squeezed and hammered." According to Warren, "People feel like the system is rigged against them. And here's the painful part: They're right. The system is rigged." Warren said Wall Street CEOs "wrecked our economy and destroyed millions of jobs" and that they "still strut around Congress, no shame, demanding favors, and acting like we should thank them."[45][46][47][48]
Publications

Selected articles
Warren, E. (1987). "Bankruptcy Policy". The University of Chicago Law Review 54 (3): 775-814. JSTOR 1599826.
Warren, E. (1992). "The Untenable Case for Repeal of Chapter 11". The Yale Law Journal 102 (2): 437-479. JSTOR 796843.
Warren, E. (1993). "Bankruptcy Policymaking in an Imperfect World". Michigan Law Review 92 (2): 336-387. JSTOR 1289668.
"Principled Approach to Consumer Bankruptcy". American Bankruptcy Law Journal 71: 483. 1997.
"The Bankruptcy Crisis". Indiana Law Journal 73 (4): 1079. Fall 1998.
Warren, Elizabeth; Westbrook, Jay Lawrence (January 2000). "Financial Characteristics of Businesses in Bankruptcy". American Bankruptcy Law Journal 73: 499. doi:10.2139/ssrn.194750.
Himmelstein, DU; Warren, E; Thorne, D; Woolhandler, S (2005). "Illness and injury as contributors to bankruptcy". Health affairs (Project Hope) Suppl Web Exclusives: W5-63-W5-73. doi:10.1377/hlthaff.w5.63. PMID 15689369.
"The Vanishing Middle Class". In Edwards, John, ed. (2007). Ending Poverty in America: How to Restore the American Dream. The New Press. ISBN 978-1-59558-176-1.
Himmelstein, David U.; Warren, Elizabeth; Thorne, Deborah; Woolhandler, Steffie J. (2005). "Illness and Injury as Contributors to Bankruptcy". SSRN Electronic Journal. doi:10.2139/ssrn.664565.
Himmelstein, DU; Thorne, D; Warren, E; Woolhandler, S (2009). "Medical bankruptcy in the United States, 2007: Results of a national study". The American Journal of Medicine 122 (8): 741-6. doi:10.1016/j.amjmed.2009.04.012. PMID 19501347.
Books
As We Forgive Our Debtors: Bankruptcy and Consumer Credit in America. Oxford University Press. 1989. ISBN 978-0-19-505578-8. (with Teresa A. Sullivan and Jay Westbrook)
The Fragile Middle Class: Americans in Debt. Yale University Press. 2001. ISBN 978-0-300-09171-7. (with Teresa A. Sullivan and Jay Westbrook)
The Two-Income Trap: Why Middle-Class Parents are Going Broke. Basic Books. 2004. ISBN 978-0-465-09090-7. (with Amelia Warren Tyagi)
All Your Worth: The Ultimate Lifetime Money Plan. Simon and Schuster. 2006. ISBN 978-0-7432-6988-9. (with Amelia Warren Tyagi)
Casenote Legal Briefs: Commercial Law. Aspen Publishers. 2006. ISBN 978-0-7355-5827-4. (with Lynn M. LoPucki, Daniel Keating, Ronald Mann, and Normal Goldenberg)
The Law of Debtors and Creditors: Text, Cases, and Problems (6th ed.). Aspen Publishers. 2008. ISBN 978-0-7355-7626-1. (with Jay Westbrook)
Chapter 11: Reorganizing American Businesses (Essentials). Aspen Publishers. 2008. ISBN 978-0-7355-7654-4.
Secured Credit: A Systems Approach. Wolters Kluwer. 2008. ISBN 978-0-7355-7649-0. (with Lynn M. LoPucki)

References
1. ^ [1]
2. ^ Dennis, Brady (August 13, 2010). "Elizabeth Warren, likely to head new consumer agency, provokes strong feelings". The Washington Post. Retrieved November 18, 2010.
3. ^ "Law School Faculty Member Profile: Elizabeth Warren".LexisNexis Martindale-Hubbell. Retrieved September 16, 2010.
4. ^ "10 Things You Didn't Know About Elizabeth Warren". US News and World Report. usnews.com. October 4, 2010. Retrieved July 26, 2011.
5. ^ "Ancestors of: Herring, Elizabeth" (PDF). North Shore Journal. 2012-05. Retrieved 2012-06-10.
6. ^ Noah Bierman (2012-02-12). "A girl who soared, but longed to belong - Page 2 - Boston.com". Articles.boston.com. Retrieved 2012-06-09.
7. ^ a b c Andrews, Suzanna (November 2011). "The Woman Who Knew Too Much". Vanity Fair.
8. ^ "Elizabeth Warren". The Huffington Post.
9. ^ a b "Warren Winning Means No Sale If You Can't Explain It".Bloomberg. November 19, 2009.
10. ^ a b Pierce, Charles (December 20, 2009). "Bostonian of the Year". Boston Globe. Retrieved December 23, 2009.
11. ^ "Elizabeth Warren biography". The Biography Channel. Retrieved September 19, 2012.
12. ^ "Educators endorse Elizabeth Warren for the U.S. Senate".massteacher.org. Massachusetts Teachers Association. Retrieved September 19, 2012.
13. ^ a b c d Kreisler, Harry (March 8, 2007). "Conversation with Elizabeth Warren". Conversations with History. Institute of International Studies, University of California, Berkeley.
14. ^ "Elizabeth Warren". NNDB.
15. ^ a b c Kim, Mallie Jane (October 4, 2010). "10 Things You Didn't Know About Elizabeth Warren". U.S. News and World Report.
16. ^ Warren, Elizabeth (2008). "Curriculum Vitae". Harvard Law School.
17. ^ Andrews, Suzanna (November 2011). "The Woman Who Knew Too Much". Vanity Fair. Retrieved February 13, 2012.
18. ^ "Advisory Committee on Economic Inclusion (ComE-IN)".FDIC..
 Resignation announced in "Meeting Minutes: November 16, 2010". FDIC Advisory Committee on Economic Inclusion.
19. ^ "Committees". National Bankruptcy Conference.
 "Mission". National Bankruptcy Conference.
20. ^ President Obama Names Elizabeth Warren Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau
21. ^ "Elizabeth Warren on Charlie Rose". May 11, 2009."Elizabeth Warren on Charlie Rose". March 4, 2010.
22. ^ "Elizabeth Warren on the Daily Show". April 15, 2009."Elizabeth Warren on the Daily Show". January 28, 2010.
23. ^ Warren, Elizabeth; Amelia Warren Tyagi (2005). All Your Worth: The Ultimate Lifetime Money Plan. Free Press. p. 1-12.ISBN 978-0743269872.
24. ^ Madrick, Jeff (September 4, 2003). "Necessities, not luxuries, are driving Americans into debt, a new book says". The New York Times. Retrieved June 3, 2009.
25. ^ Buechner, Maryanne Murray (September 8, 2003). "Parent Trap". TIME. Retrieved June 3, 2009.
26. ^ Himmelstein, David U.; Warren, Elizabeth; Deborah, Deborah; Woolhandler, Steffie J. (2005-02-08). "Illness and Injury as Contributors to Bankruptcy". SSRN Electronic Journal (Social Science Research Network). doi:10.2139/ssrn.664565.SSRN 664565.
27. ^ Warren, Elizabeth (2005-02-09). "Sick and Broke". The Washington Post: p. A23.
28. ^ Langer, Gary (March 5, 2009). "Medical Bankruptcies: A Data-Check". The Numbers blog. ABC News. Retrieved June 5, 2009.
29. ^ Host: Terry Gross (December 11, 2008). "What Does $700 Billion Buy Taxpayers?". Fresh Air from WHYY. National Public Radio. Retrieved December 12, 2008.
30. ^ Kantor, Jodi (March 25, 2010). "Behind Consumer Agency Idea, a Tireless Advocate". The New York Times.
31. ^ Yellin, Jessica (July 18, 2011). "Obama will nominate Cordray to head new consumer protection bureau". CNN Politics.
32. ^ Appelbaum, Binyamin (July 18, 2011). "Former Ohio Attorney General to Head New Consumer Agency". The New York Times.
33. ^ Cooper, Helene (2012-01-04). "Defying Republicans, Obama to Name Cordray as Consumer Agency Chief
34. ^ Goodnough, Abby. "Times Topics: Bureau of Consumer Financial Protection". The New York Times.
35. ^ Randall, Maya Jackson (September 14, 2011). "Warren Kicks Off Senate Campaign". The Wall Street Journal.
36. ^ Helderman, Rosalind S.; Weiner, Rachel (September 14, 2011). "Consumer advocate Elizabeth Warren launches US Senate campaign with tour of Massachusetts". The Washington Post.
37. ^ Sargent, Greg (September 21, 2011). "Class warfare, Elizabeth Warren style". The Washington Post.
38. ^ Benen, Steve (September 21, 2011). ""The underlying social contract". Washington Monthly.
39. ^ Smerconish, Michael (July 30, 2012). "The context behind Obama's ‘you didn't build that'". Philadelphia Inquirer. Retrieved 23 August 2012.
40. ^ Kathleen Hennessey (18 July 2012). "Republicans pouncing on Obama's 'you didn't build that' remark". Los Angeles Times. Retrieved 13 August 2012.
41. ^ "Fact check: What President Obama actually said about small businesses". Truth team. Obama for America. 17 July 2012. Retrieved 13 August 2012.
42. ^ Rizzuto, Robert (June 2, 2012). "Elizabeth Warren lands party endorsement with record 95 percent support at Massachusetts Democratic Convention". The Republican. Retrieved 2 June 2012.
43. ^ Bierman, Noah (May 30, 2012). "Deval Patrick endorses Elizabeth Warren for US Senate". Boston.com.
44. ^ "Elizabeth Warren agrees to WBZ-TV debate with Scott Brown - Political Intelligence - A national political and campaign blog from The Boston Globe". Boston.com. Retrieved 2012-06-09.
45. ^ Elizabeth Warren: 'The System Is Rigged'
46. ^ Elizabeth Warren, Bill Clinton speak at Democratic National Convention
47. ^ Elizabeth Warren: `Wall Street CEOs' Still `Strut Around Congress'
48. ^ www.ft.com/cms/s/0/5718...4feabdc0.html Warren attacks CEOs who ‘wrecked economy'
49. ^ a b Chabot, Hillary (2012-04-27). "Harvard trips on roots of Elizabeth Warren's family tree". BostonHerald.com. Retrieved 2012-06-09.
50. ^ "Filings raise more questions on Warren's ethnic claims". Boston Globe. 2012-05-25. Retrieved 2012-06-09.
51. ^ Ebbert, Stephanie (April 30, 2012). "Directories identified Warren as minority". The Boston Globe.
52. ^ Madison, Lucy (May 3, 2012). "Warren explains minority listing, talks of grandfather's "high cheekbones"". CBS News. Retrieved 12 May 2012.
53. ^ Chabot, Hillary (2012-05-02). "Warren: I used minority listing to share heritage". BostonHerald.com. Retrieved 2012-06-09.
54. ^ Harvard Law directory
55. ^ Cassidy, Chris (April 30, 2012). "Scott Brown calls on Warren camp to ‘come clean'". Boston Herald.
56. ^ John Suchocki. "Elizabeth Warren makes emotional defense of Native American background after arriving in Springfield for Massachusetts Democratic convention". The Republican. masslive.com. Retrieved 2012-06-09.
57. ^ Genealogical society: No proof of Warren's Cherokee heritage found
58. ^ "Women's Bar Association Announces Opening of Nominations for Lelia J. Robinson Awards". Women's Bar Association of Massachusetts. March 14, 2011.
59. ^ Marshall, Josh (April 30, 2009). "Elizabeth Warren". TIME. Retrieved June 3, 2009. Bair, Sheila (April 29, 2010). "Elizabeth Warren". TIME. Retrieved June 4, 2010.
60. ^ "Featured Profile: Elizabeth Warren". Connecticut Public Broadcasting Network. 2010. Retrieved October 26, 2011.
61. ^ Brown, David (March 29, 2010). "The Decade's Most Influential Lawyers: Forty attorneys who have defined the decade in a dozen key legal areas". The Recorder. Originally published inThe National Law Journal.
62. ^ "Elizabeth Warren Wins Sacks-Freund Award for Teaching". 2009. Retrieved May 2, 2012.
63. ^ Capizzi, Carla (May 10, 2011). "Legal Scholar Elizabeth Warren, Historian Annette Gordon-Reed, Entrepreneur Marc Berson to Address Graduates of Rutgers University, Newark".Rutgers-Newark Newscenter.
Fri, September 21, 2012 - 3:43 PM — permalink - 0 comments - add a comment

FOLLOW THE MONEY, NOT THE PROPOGANDA

American Voters must wake up to how their votes are cleverly solicited by genius psychologists who are highly paid to design and wield powerful and effective political propaganda to influence the outcome of this and other elections . To understand the key issues Americans must stop listening to media propaganda, and follow the money trail which tells us a far different story.

The billionaire financial Elite seek to influence our elections to ensure they will never ever be forced to remit their fair share of taxes. For instance billionaire Sheldon Adelson has pledged to give up to $100 million - or whatever it takes to ensure the Mitt Romney is elected because he stands to reap a massive tax windfall if Mitt Romney wins the presidential election. According to the Center for American Progress, Romney's policies will save Adelson more than $2 billion in taxes. The savings would come through a combination of Romney's proposals to cut the rate for top earners, avoid or exempt foreign profits, and maintain low rates on dividends and capital gains.

After the Economic Crises imploded in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. Also a huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent of American, who now make an average of $27 million per household per year. In the meantime average income for the bottom 90 percent of American dropped to $31,244 year. By contrast our Nations Great Recession caused a drop of 36.1% in median household income further widening the gap between Americas' very rich and everyone else.

Adelson would see up to $2 billion in savings under Mitt Romney's proposed tax plan. Meanwhile as our nation's poor and middle class are progressively more deeply financially challenged our nation's wealth has been gradually more and more concentrated into the hands of America's 1% most wealthy with the richest 1% of Americans owning over a third of America's wealth. Today, top American executives are paid an average of $4.9 million each, and executives at the largest companies are paid more than 4 times what they were in the 1970s, meanwhile during this same period, the average American worker saw their pay gradually decrease by over 10%. Statistics tell us that In 2007, the bottom 60% of Americans had 65% of their net worth tied up in their homes. The top 1%, in contrast, had just 10%.

Americans who wish to preserve our political social autonomy and reverse the downward spiral of our national economy must first of all look to demanding essential audits and dilution of the powerful and corrupt Federal Reserve Monetary System. This privately owned system is exclusively owned, operated and completely controlled by a powerful and self-serving financial elite comprised of this nations Billionaires that basically utilizes the power of Federal Reserve to control the purse strings of the American Monetary System as they similarly control many of our nations law-makers through their very, very powerful Washington lobbyists.



Statistics provide a comprehensive story of how and why the billionaire sector loosely identified as "the Financial elite" designed self-serving and ingenious strategies facilitating our current housing and economic crises for the purpose of dramatically increasing their share of total net worth. Our nations superrich, "the financial elite," basically control elections through massive contributions to politicians who support their financial interests so they may be easily enabled to influence and control most of the policy making in of our government.

After the Economic Crises imploded in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. Also a huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent of American, who now make an average of $27 million per household per year. In the meantime average income for the bottom 90 percent of American dropped to $31,244 year.

It's time for Americans to reach out and demand that Congress stop this endless pillage of our tax dollars. Talk about exceeding an "unlimited budget". . . The Federal Reserve just keeps on printing more money and adding to non-rich Americans tax burden and escalating the core problem - the worsening economic and related housing crises that has been disastrous for millions of American families all over the country, causing increasing damaging the economic future of the majority of Americans and their children and grandchildren for 10 generations to follow.



Let's not take anymore! Demand an Audit of the Fed Reserve before they throw away any more of our tax dollars. - because your children and their children will otherwise suffer greatly IF WE SHOULD fail to stop the financial elite in their tracks.

FOOTNOTES

Campaign Donor Sheldon Gary Adelson is an American business magnate and the chairman and chief executive officer of the Las Vegas Sands Corporation, the parent company of Venetian Macao Limited which operates The Venetian Resort Hotel Casino and the Sands Expo and Convention Center. Adelson owns the Israeli daily newspaper Israel HaYom, and is listed in the Forbes 400 as the eighth wealthiest American, with a personal wealth is estimated to be $24.9 billion as of March 2012.

Mandatory records of Campaign Contributions tell us that literally billions of dollars have been poured into the political campaigns of presidential hopeful, Mitt Romney and other political hopefuls from different parties. ( see www.washingtonpost.com/busine...y.html)

Rep. Darrell Issa (R-Calif.) $451.1 million Rep. Jane Harman (D-Calif.) $435.4 million; Rep. Vern Buchanan (R-Fla.) $366.2 million; Sen. John Kerry (D-Mass.) $294.9 million; Rep. Jared Polis (D-Colo.) $285.1 million; Sen. Mark Warner (D-Va.) $283.1 million; Sen. Herb Kohl (D-Wisc.) $231.2 million; Rep. Michael McCaul (R-Texas) $201.5 million; Sen. Jay Rockefeller (D-W.Va.) $136.2 million; Sen. Dianne Feinstein (D-Calif.) $108.1 million.
Tue, September 18, 2012 - 3:57 PM — permalink - 0 comments - add a comment
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