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Originally posted by Mayet
For example a whole bunch of teenage kids I know did not know who the band/singer Franz Ferdinand was named after....
they didn't have a clu when shown a picture of the Queen mother of who she was...
and the kicker..... they didn'y even know what litmus paper was used for in science.....
arggh public schools teach them nothing...
The Federal Reserve is a branch of the U.S. government.
FALSE. The Federal Reserve is a private organization, owned by member banks who are, in turn, owned primarily by wealthy investors. The Fed is neither owned by the U.S. government, nor answers to it. Most Americans, of course, mistakenly believe their own government is in control of the U.S. dollar and national fiscal policy.
Banks offer to finance home loans because they want to help people own their homes.
FALSE. Banks are in business to make money, just like any other business. They loan people money solely to make a profit. That's why they only loan money to people who seem like a safe bet. If banks were in business just to hand out money for the public good, loan officers would never reject a loan application. Most homeowners, by the way, end up paying for their house three times over by the time their loan is finally paid off with the bank.
Originally posted by CloudlessKnight
I think that redistribution of income is used to make sure that the poor stay poor. Here's how I see the cycle... The government gives money to the poor. Not a lot of money, but just enough to keep them alive. The problem with this is that they get stuck with "just enough." They get to live and feed their children, but they don't get enough money to get their feet out the doors and actually make something of their lives. They get comfortable with their low income financial situations. If they get jobs and make good income, they'll lose their welfare. But if they do nothing, they can continue to live with minimal effort.
This is what I like to call too much of the wrong kind of help. The poor are not being properly motivated to get good jobs with good pay. The reason for this is simple... There's only so much capital to go around. The more money the general public makes, the less money that goes into the pockets of "them." So, in this case, it's actually cheaper to pay the public to stay poor.