This is hysterical! These "geezers" can rap!
What a year 2012 has been! The mainstream media continues to tell us what a “great job” the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class. It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening.
If nothing is done, our debt problems will continue to get worse, millions of jobs will continue to leave the country, small businesses will continue to be suffocated, the middle class will continue to collapse, and poverty in the United States will continue to explode. Just “tweaking” things slightly is not going to fix our economy. We need a fundamental change in direction. Right now we are living in a bubble of debt-fueled false prosperity that allows us to continue to consume far more wealth than we produce, but when that bubble bursts we are going to experience the most painful economic “adjustment” that America has ever gone through. We need to be able to explain to our fellow Americans what is coming, why it is coming and what needs to be done. Hopefully the crazy economic numbers that I have included in this article will be shocking enough to wake some people up.
The end of the year is a time when people tend to gather with family and friends more than they do during the rest of the year. Hopefully many of you will use the list below as a tool to help start some conversations about the coming economic collapse with your loved ones. Sadly, most Americans still tend to doubt that we are heading into economic oblivion. So if you have someone among your family and friends that believes that everything is going to be “just fine”, just show them these numbers. They are a good summary of the problems that the U.S. economy is currently facing.
The following are 75 economic numbers from 2012 that are almost too crazy to believe…
#1 In December 2008, 31.6 million Americans were on food stamps. Today, a new all-time record of47.7 million Americans are on food stamps. That number has increased by more than 50 percent over the past four years, and yet the mainstream media still has the gall to insist that “things are getting better”.
#2 Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.
#3 According to one calculation, the number of Americans on food stamps now exceeds the combined populations of “Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.”
#4 According to one recent survey, 55 percent of all Americans have received money from a safety net program run by the federal government at some point in their lives.
#6 Median household income in the U.S. has fallen for four consecutive years. Overall, it has declined by over $4000 during that time span.
#7 Families that have a head of household under the age of 30 have a poverty rate of 37 percent.
#8 The percentage of working age Americans with a job has been under 59 percent for 39 months in a row.
#9 In September 2009, during the depths of the last economic crisis, 58.7 percent of all working age Americans were employed. In November 2012, 58.7 percent of all working age Americans were employed. It is more then 3 years later, and we are in the exact same place.
#10 When you total up all working age Americans that do not have a job in America today, it comes to more than 100 million.
#11 According to one recent survey, 55 percent of all small business owners in America “say they would not start a business today given what they know now and in the current environment.”
#12 The number of jobs at new small businesses continues to decline. According to economist Tim Kane, the following is how the decline in the number of startup jobs per 1000 Americans breaks down by presidential administration…
Bush Sr.: 11.3
Bush Jr.: 10.8
#14 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.
#15 There are four major U.S. banks that each have more than 40 trillion dollars of exposure to derivatives.
#17 According to the Pew Research Center, 61 percent of all Americans were “middle income” back in 1971. Today, only 51 percent of all Americans are.
#18 The Pew Research Center has also found that 85 percent of all middle class Americans say that it is harder to maintain a middle class standard of living today than it was 10 years ago.
#19 62 percent of all middle class Americans say that they have had to reduce household spendingover the past year.
#20 Right now, approximately 48 percent of all Americans are either considered to be “low income” or are living in poverty.
#21 Approximately 57 percent of all children in the United States are living in homes that are either considered to be either “low income” or impoverished.
#22 According to one survey, 77 percent of all Americans are now living paycheck to paycheck at least part of the time.
#24 The average amount of time that an unemployed worker stays out of work in the United States is 40 weeks.
#25 If you can believe it, approximately one out of every four American workers makes 10 dollars an hour or less.
#26 According to the U.S. Census Bureau, an all-time record 49 percent of all Americans live in a home where at least one person receives financial assistance from the federal government. Back in 1983, that number was less than 30 percent.
#27 Right now, more than 100 million Americans are enrolled in at least one welfare program run by the federal government. And that does not even count Social Security or Medicare. Overall, there are almost 80 different “means-tested welfare programs” that the federal government is currently running.
#28 When you account for all government transfer payments and all forms of government employment, more than half of all Americans are now at least partially financially dependent on the government.
#29 Barack Obama has been president for less than four years, and during that time the number of Americans “not in the labor force” has increased by nearly 8.5 million. Something seems really “off” about that number, because during the entire decade of the 1980s the number of Americans “not in the labor force” only rose by about 2.5 million.
#30 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.
#31 According to USA Today, many Americans have actually seen their water bills triple over the past 12 years.
#32 There are now 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.
#33 Right now, approximately 25 million American adults are living with their parents.
#34 As the economy has slowed down, so has the number of marriages. According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married. Back in 1960, 72 percent of all U.S. adults were married.
#35 At this point, only 24.6 percent of all jobs in the United States are good jobs.
#37 Recently it was announced that total student loan debt in the United States has passed the one trillion dollar mark.
#38 If you can believe it, one out of every seven Americans has at least 10 credit cards.
#41 It is being projected that half of all American children will be on food stamps at least once before they turn 18 years of age.
#42 More than three times as many new homes were sold in the United States in 2005 as will be sold in 2012.
#43 If you can believe it, 53 percent of all Americans with a bachelor’s degree under the age of 25 were either unemployed or underemployed last year.
#44 The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.
#45 Our trade deficit with China in 2011 was $295.5 billion. That was the largest trade deficit that one country has had with another country in the history of the planet.
#46 The United States has lost an average of approximately 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.
#47 According to the Economic Policy Institute, America is losing half a million jobs to China every single year.
#48 The U.S. tax code is now more than 3.8 million words long. If you took all of William Shakespeare’s works and collected them together, the entire collection would only be about 900,000 words long.
#49 According to the IMF, the global elite are holding a total of 18 trillion dollars in offshore banking havens such as the Cayman Islands.
#50 The value of the U.S. dollar has declined by more than 96 percent since the Federal Reserve was first created.
#51 2012 was the third year in a row that the yield for corn has declined in the United States.
#52 Experts are telling us that global food reserves have reached their lowest level in almost 40 years.
#53 One recent survey discovered that 40 percent of all Americans have $500 or less in savings.
#54 If you can believe it, one recent survey found that 28 percent of all Americans do not have a single penny saved for emergencies.
#55 Medical costs related to obesity in the United States are estimated to be approximately $147 billion a year.
#57 Today, the wealthiest 1 percent of all Americans own more wealth than the bottom 95 percentcombined.
#58 The wealthiest 400 families in the United States have about as much wealth as the bottom 50 percent of all Americans combined.
#59 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to thebottom 30 percent of all Americans combined.
#60 At this point, the poorest 50 percent of all Americans collectively own just 2.5% of all the wealth in the United States.
#61 Nearly 500,000 federal employees now make at least $100,000 a year.
#63 If you can believe it, there are 77,000 federal workers that make more than the governors of their own states do.
#64 Nearly 15,000 retired federal workers are collecting federal pensions for life worth at least $100,000 annually. The list includes such names as Newt Gingrich, Bob Dole, Trent Lott, Dick Gephardt and Dick Cheney.
#65 U.S. taxpayers spend more than 20 times as much on the Obamas as British taxpayers spend on the royal family.
#66 Family homelessness in the Washington D.C. region (one of the wealthiest regions in the entire country) has risen 23 percent since the last recession began.
#67 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.
#68 During fiscal year 2012, 62 percent of the federal budget was spent on entitlements.
#69 Back in 1965, only one out of every 50 Americans was on Medicaid. Today, approximately one out of every 6 Americans is on Medicaid.
#70 It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
#71 Medicare is also growing by leaps and bounds. As I wrote about recently, it is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.
#72 Thanks to our foolish politicians (including Obama), Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for each and every household in the United States.
#73 Amazingly, the U.S. national debt is now up to 16.3 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.
#74 During the first four years of the Obama administration, the U.S. government accumulated about as much debt as it did from the time that George Washington took office to the time that George W. Bush took office.
#75 Today, the U.S. national debt is more than 5000 times larger than it was when the Federal Reserve was originally created back in 1913.
Please share this article with as many people as you can. Time is running out, and we need to wake up as many people as possible.via The Economic Collapse Blog
There are only three things Netanyahu can do now to get the war with Iran going before the Israeli elections next month.
The first is to simply go ahead and attack Iran, expecting that the United States will protect Israel from the counter-attack even if Israel struck the first blow.
The second option is a false-flag attack somewhere in the world to be blamed on Iran, but that is a very chancy option given the video of WIMEA lobbyist Clawson actually selling the idea that a false flag to start the war with Iran is a great idea.
The third and final option, and the one I am starting to think is the most likely, relates to the sudden flurry of media stories and statements by people like Joseph Lieberman about how Iranian hackers are attacking the US financial system computers. (Senator Lieberman has also been pressuring Obama to sign an executive order to take over the internet.) Of course, the common sense approach still applies. Why would Iran, which wishes to avoid a war, do something that provocative.
But we know that the US and Israel are behind the cyber-weapons like STUXNET, DUQU, FLAME, etc., taht these cyber-weapons were directed against Iran, and that one variant specifically targeted banks in Lebanon and Iran. We also know that the US financial system is stretched to the breaking point, and we know that if the government of either Greece of Spain is driven from office by angry protests, credit default swaps sold by Wall Street against those debts come due, and there is no money to pay the claims. The Euro might even collapse, and that would trigger even more Credit Default Swaps. So the final option, one that strikes me as very likely, is that Israel will take down the US financial computers, and blame it on Iran. This also gets Wall Street and Washington DC off the hook, because now the financial melt-down is an act of war, rather than the result of decades of Wall Street crime and corruption and the predations of Private Central Banks. US banks have already been hit with cyber attacks over the last two weeks, to set the stage. And this would also explain why the US corporate media has paid scant attention to the riots in Spain and Greece so that Americans still dependent on ABCNNBBCBS will remain oblivious to the fact that the Euro is falling apart.
This scenario also explains the testing of means to interfere with DNS to silence websites that may offer opposing interpretations of events (this too will be blamed on Iran).
Such a cyber false-flag also gives the US Government the excuse to take total control of the internet so that those pesky truth-seeking bloggers don't give the slaves uppity ideas that this is just another war-starting hoax like the attack on the USS Liberty or 9-11.
PLEASE REPOST THIS THEORY TO YOUR SOCIAL NETWORKS. If we can make them doubt that the official story of a financial system computer crash will be believed by the public, we can get them to call it off! If the bank computers and alternative media do crash, the US/Israel did it!
Between the possibility of a false-flag hack attack, or the collapse of the Eurozone, or just the continuing fraud by the US financial system, you should only have as much money in the banks as is needed to cover your outstanding obligations, and you should have the rest of your money under your own personal control in case those bank doors do not open and the ATMs stop working.
A Google News search for stories about layoffs in the past 24 hours returns:
Source: Alexander Higgins
Celente - The Good, Really Bad And Very Ugly
Dear Bank of America,
My husband died on May 12, 2010. You know this because I dutifully informed you shortly after he died. And you so generously told me that since he was such a valued customer, and you sure were going to miss his business, that I, lucky widow that I am, could take over the outstanding balance on his credit cards and pay you those thousands of dollars you won't be able to squeeze out of his dead corpse. So kind of you.
But your kindness didn't end there. Oh no. Because despite those oh-so-enjoyable conversations and exchanging of documents, his death somehow didn't make it into the right databases. Apparently, I failed to personally inform each and every Bank of America employee of his demise, failed to personally deliver a certified copy of his death certificate to your each and every branch, failed to make it clear that he was, like, really dead and isn't coming back, so no, he will never be available to sign any of your forms.
My bad, Bank of America. I'm so sorry for my failure.
But your thoughtfulness knows no bounds, Bank of America, so you make sure we have the same conversation each time I need to make a deposit or withdrawal or get a copy of a statement. Every transaction from his trust account must be made in person because of course your policy is to make sure that widows who deal with their husbands' trust accounts can't just do it online, like all of your other banking. Nope, widows must come into the bank each time, must sit down with you each time, must show you the death certificate each time, must tell you the story of his death—the date, the location, the status of our marriage, the color socks he was wearing at the time—each and every time.
And each and every time, you assure me that you're so sorry and you'll be sure to make a note on the account and enter the information into the system so that I won't have to collapse in tears in the middle of your bank the next time I have business to do. You promise. Pinky swear. Here, have a tissue.
Until, of course, your policies change again and you need to see the death certificate again and make another copy, but this time will be the last time.
Really, Bank of America, it's so thoughtful of you to ensure that banking transactions are so time-consuming and personal. You see, I have so many tasks and obligations as his widow, but these little exchanges you insist we have really help add some excitement to the otherwise monotonous grieving process.
But that's not all. Oh no. Because despite the dozens of conversations we've had wherein I explain to you—again—that he can't sign that form you need him to sign on account of him being dead, you felt that his death was no excuse for him not paying monthly fees on his old checking account you were supposed to have closed a year ago. You can imagine my surprise when I received a notice that my dead husband owed you, Bank of America, hundreds of dollars in overdraft fees because you'd been helping yourself to his money, a month at a time, until the account was emptied and then overdrawn.
Is this because I declined your generous offer to pay off his credit card? Is it because you knew I had better things to do than check to make sure that account you said you'd closed was actually, you know, closed? I guess I can't blame you for trying to squeeze every last penny out of his corpse. After all, Bank of America, your CEO did tell us last year that you have a right to make a profit. Even off a dead guy.
I really have to thank you, Bank of America, for today's little exchange. See, silly me, I thought I could just walk into the bank and make a deposit into my account of a check made out to both me and my husband. My bad, I know. Because of course you need his signature as well. You couldn't possibly allow me to rip off my dead husband. I understand, you're just looking out for his best interests, making sure I'm not swindling his corpse out of that $100 I naively thought I could deposit. After all, you really valued him as a customer.
You made the same promises and assurances to me that you always do, offered with the same insincere apologies. Oh, you're so sorry for my loss. You're so sorry to have to ask me these questions for the eleventy billionth time. You'll be sure to make a note on the account that my husband's signature should not be required for any further transactions, on account of how dead people have a hell of a time signing their name. But you mean it this time, right? You promise? Pinky swear?
I'm sure you'll be heartbroken to know, Bank of America, that this whole sordid probate business is coming to completion, and that account will be closed and emptied soon. So we won't have this quality time together much longer, wherein you tell me you can't possibly process my money without hearing the whole story of my husband's death—again. And reviewing all the paperwork—again. And then letting me know just how sorry you are for this loss we share—for me, the loss of my husband, and for you, more importantly, the loss of such a customer who was so valuable to you until he stopped paying you those monthly fees on account of being, you know, dead.
Believe me, Bank of America, I'm counting down the days until our relationship comes to a close. I know it must be hard for you. Allow me to offer you my condolences. Here, have a tissue. It's the least I can do to help you through this difficult process.
Just one more thing, Bank of America, and I mean this from the bottom of my grieving widow's heart:
Fuck you. No, seriously, fuck you.
One really pissed off widow
“We have about 50 per cent of the world’s wealth, but only 6.3 per cent of its population… Our real task in the coming period is to maintain this position of disparity… To do so we will have to dispense with all sentimentality and day-dreaming… We need not deceive ourselves that we can afford the luxury of altruism… We should cease to talk about vague, unreal objectives such as human rights, the raising of living standards, and democratization. The day is not far off when we will have to deal in straight power concepts.” -- George Kennan, February, 1948
There are many insiders who believe that January will be the biggest ever market crash leading to a bank holiday. Gerald Celente has a very good track record.
Here is why S&P downgraded the US credit rating:
• U.S. Tax revenue: $ 2,170,000,000,000
• Fed budget:........ .$ 3,820,000,000,000
• New debt: ,,,,,,,,,,..$ 1,650,000,000,000
• National debt:.. ..$ 14,271,000,000,000
• Recent budget cut:... $ 38,500,000,000
Now let’s remove 8 (eight) zeros, and pretend it’s a household budget.
• Annual family income:................................ $ 21,700.00
• Money the family spent:. ............................$ 38,200.00
• New debt on the credit card: ......................$ 16,500.00
• Outstanding balance on the credit card:... $ 142,710.00
• Total budget cuts: ............................................$ 385.00
The following are 12 statistics about money and Congress that are so outrageous that it is hard to believe that they are actually true....
#1 The collective net worth of all of the members of Congress increased by 25 percent between 2008 and 2010.
#2 The collective net worth of all of the members of Congress is now slightly over 2 billion dollars. That is "billion" with a "b".
#3 This happened during a time when the net worth of most American households was declining rapidly. According to the Federal Reserve, the collective net worth of all American householdsdecreased by 23 percent between 2007 and 2009.
#4 The average net worth for a member of Congress is now approximately 3.8 million dollars.
#5 The net worth of House Minority Leader Nancy Pelosi increased by 62 percent from 2009 to 2010. In 2009 it was reported that she had a net worth of 21.7 million dollars, and in 2010 it was reported that she had a net worth of 35.2 million dollars.
#7 More than 50 percent of the members of the U.S. Congress are millionaires.
#8 In 2008, the average cost of winning a seat in the House of Representatives was $1.1 million and the average cost of winning a seat in the U.S. Senate was $6.5 million. Spending on political campaigns has gotten way out of control.
#9 Insider trading is perfectly legal for members of the U.S. Congress - and they refuse to pass a law that would change that.
#10 The percentage of millionaires in Congress is more than 50 times higher than the percentage of millionaires in the general population.
#11 U.S. Representative Darrell Issa is worth approximately 220 million dollars. His wealth grew by approximately 37 percent from 2009 to 2010.
#12 The wealthiest member of Congress, U.S. Representative Michael McCaul, is worth approximately 294 million dollars.
So how are members of Congress becoming so wealthy? Read the full artiucle to find out why.
In the end, no corporation actually pays taxes, as the taxes are embedded into cost of the product paid for by the end consumer of the product or service.
Exxon Mobil, Bank of America, GE and other giant corporations paid no U.S. taxes despite billions in profits. In fact, they pocketed big IRS refunds. It's a scandal, Sen. Bernie Sanders told colleagues on Wednesday. As congressional leaders and the White House haggled over how many billions of dollars to cut spending on programs for working families, Bernie tried to broaden the debate. He compiled a top-10 list of tax-dodging corporations. "Maybe we have to reduce that deficit not simply on the backs of working families, low-income people, the children, the sick, the elderly. Maybe, maybe we might want to call for shared sacrifice. Maybe Exxon-Mobil and some of the large oil companies might be asked to pay something in taxes."
Sen. Sanders' 10 worst corporate income tax avoiders.
1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings. (Source: Exxon Mobil's 2009 shareholder report filed with the SEC here.)
2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion. (Source: Forbes.com here, ProPublica here and Treasuryhere.)
3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS. (Source: Citizens for Tax Justice here and The New York Times here. Note: despite rumors to the contrary, the Times has stood by its story.)
4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009. (Source: See 2009 Chevron annual report here. Note 15 on page FS-46 of this report shows a U.S. federal income tax liability of $128 million, but that it was able to defer $147 million for a U.S. federal income tax liability of $-19 million)
5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year. . (Source: Paul Buchheit, professor, DePaul University, here and Citizens for Tax Justice here.)
6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction. (Source: the company's 2009 annual report, pg. 112, here.)
7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department. (Source: Bloomberg News here, ProPublica here, Treasury Department here.)
8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury. (Source: Paul Buchheit, professor, DePaul University, here, ProPublica here, Treasury Department here.)
9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2006 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction. (Sources: Profits can be found here. The deduction can be found on the company's 2010 SEC 10-K report to shareholders on 2009 finances, pg. 127,here)
10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent. (Source: The New York Times here)
“The few who can understand the system (check money and credits, will either be so interested in it’s profits, or so dependent on its favors, that there will be no oppositions from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” --
Rothschild Brothers of London
"Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When, through process of law, the common people lose their homes, they will become more docile and more easily governed through the strong arm of the government applied by a central power of wealth under leading financiers. These truths are well known among our principal men, who are now engaged in forming an imperialism to govern the world.
BY DIVIDING THE VOTERS THROUGH THE POLITICAL PARTY SYSTEM, WE CAN GET THEM TO EXPEND THEIR ENERGIES IN FIGHTING FOR QUESTIONS OF NO IMPORTANCE.
It is thus, by discrete action, we can secure for ourselves that which has been so well planned and so successfully accomplished."
Montagu Norman, Governor of The Bank Of England, addressing the United States Bankers' Association, New York, 1924.
"Banking was conceived in iniquity and was born in sin.
The Bankers own the earth. Take it away from them,
but leave them the power to create deposits,
and with the flick of the pen they will
create enough deposits to buy it back again.
However, take it away from them, and
all the great fortunes like mine
will disappear and they ought to disappear, for
this would be a happier and better world to live in.
But, if you wish to remain the slaves of Bankers
and pay the cost of your own slavery,
let them continue to create deposits."
Sir Josiah Stamp
(1880-1941) President of the Bank of England in the 1920's, the second richest man in Britain, speaking at the Commencement Address of the University of Texas in 1927.
I found these quotes at No One to Vote For: Governor BOE: The Democratic System is a Fraud Created to Disable Opposition to Bankers' Rule