New inflation data explain middle-class squeeze

Anyone else feel like the poop is about to hit the fan?
How much more bad news can we get before the stock markets completely bottom out?

I sometimes find myself almost wishing for the economy to bottom-out. Not because I want anyone to suffer but at least there will be no way for the powers-that-be to obfuscate the truth and there will be no where to go but up. People will learn quickly about what is really important in this world.

Just like an addiction or any other problem, one has to hit rock bottom to admit change is needed. If everything tanks, maybe then citizens will really take responsibility for the actions of their government, demand accountability and clean house.

We have the government we deserve because we have been phoning it in, not really paying attention or participating. We need new paradigms of thought, new economic models that don't build capital through exploitation or rampant consumerism but instead actually represent and reward innovation and quality of life.

However, in addition to the obvious human struggles brought on by hitting rock bottom, the main thing that concerns me about it is that it will very likely only bring about more exploitation and consolidation of power by all the usual characters. Unless, as I stated above, we have a shift of consciousness and world view.

I also agree with SEEWHATUDO and Marg that there definitely seems to be a mechanism at work here. I wonder could this be an effort to force the NAU and the Amero agenda. A destitute and impoverished United States is absolutely necessary for that to happen. It also furthers the globalist agenda because foreign investors are able to buy up our country's assets at fire sale prices. At least they will have to use dollars to buy!

[edit on 17/1/08 by kosmicjack]

reply to post by kosmicjack


Well interesting to point out that one of the congressman in the panel, did mention the dollar losing enough to be replaced, but Barnanckle dismissed very quickly the issue.

Telling that the dollar was going to get stronger, something that I doubt.

But if the issue was brought is because something is cooking behind the scene, as always the American people is in oblivion when it comes to the power that be planing and executions.

Oil profits could spark some backlash

Historic oil prices and $3-a-gallon gasoline have been contributing to fears of a recession, but they've yet to cause the hue and cry that some might expect. Americans may simply be growing more accustomed to high fuel costs, analysts say

All that may change beginning Friday, when oilfield services giant Schlumberger Ltd. kicks off earnings season for the oil sector. Companies may not post record profits, but certainly may report big enough earnings to raise some eyebrows

Given the weakening economy and prospects for $4-a-gallon gasoline, hefty oil profits are almost sure to renew debate over whether Big Oil is profiting at the expense of most Americans.

Oil Profits Could Spark Some Backlash

My wife and I try to buy a month’s supply of food at a time. We have an extra freezer in the garage to store some food in this helps in the way that we tend to spend less than if we shopped weekly, though with a son we still go back to the store at least three or four times minimum in that month.

The only time this poses a problem is if there is a massive power outage for a great length of time in the warmer months. One year we were out power for several days and all the cold/cool food was a waste, luckily it hit at a time when we were getting lower on food and not right after a shopping trip.

The milk is the price I really notice as well as juices. For just four gallons of either I can nearly fill up my car with fuel. Of course I read in the local paper the other day they are blaming the rising cost of grain, milk, cheese on the use of ethanol as a fuel source. While I don’t doubt this has some effect on prices I doubt it is the sole reason the article made it out to be. I also have to say that ethanol does not seem the way we should be looking so much as a better cleaner fuel like maybe hydrogen or anything else.

Raist

reply to post by kosmicjack


I am ready for the fall out as well, the suspense of what is going to happen next is enough to drive one crazy.
I do not want anyone to suffer but its time for Americans to wake up and take a look around esp. before the next election.
However saying that I think our elections are rigged anyway so I really dont know how much good it will do.
Like I asked before
When will Americans make a stand? When will we say enough is enough?

reply to post by SEEWHATUDO



That's just the problem. Not only are the elections rigged, but the SELECTION of candidates are rigged. Any potential candidate from either side must already be approved by the banking institutions to even have a chance at being given media (which is corporately controlled) coverage.

It's the biggest sham ever, and we are the casualties of these peoples bottomless greed.

Originally posted by SEEWHATUDO

When will Americans make a stand? When will we say enough is enough?

Revolution is the only way out. When we can no longer feed our families we will wake up and revolt. I just cannot see it any other way. The only way to get the attention of the elite to start getting violent and don't stop no matter what. We let this go this far and our self sacrifice for our children's future is our only way out.

I know haw this sounds, but non-violence has got us here. Lets hear the guillotines sing out on the capitol lawn. Shall we be cowards or shall we be AMERICANS?

reply to post by LoneGunMan


I do not believe blood shed is the answer, havent we already had enough lives lost?
There has got to be another answer.

reply to post by kosmicjack


Unless something drastic happens I don't think we are going to have to wait much longer for that fall out, I say the market crashes before the end of the month if not the end of the week.

Originally posted by SEEWHATUDO
reply to post by LoneGunMan

 

I do not believe blood shed is the answer, havent we already had enough lives lost?
There has got to be another answer.

I don't believe in bloodshed either. Do you think the elite have a problem you shedding your blood? Have they listened to us yet? Unless we have a major shift in conscience that includes a shift in the way corporate thinks we are left with nothing else but revolution.

Analysis: All on board for stimulus?

The ritual pledges of political cooperation are in place. Now the challenge for a lame duck Bush administration and an election-year Congress is to agree swiftly on an economic stimulus plan.
The voters will be watching. And not all that patiently, judging by the polls that show the economy steadily becoming their biggest concern in the wide-open race for the White House.

"This package is not going to be all things to all people," says House Speaker Nancy Pelosi, who has talked with President Bush and met twice in two days with her Republican counterpart as part of an attempt by all officials to display an eagerness to work together.

"There is an agreement that we will work together to try to put together a package that truly is stimulative, that will happen quickly, says Rep. John Boehner of Ohio, the House Republican leader.
It's a start, although Pelosi seemed unable to avoid a jab at the president, who until Thursday had not called for short-term measures to stimulate the economy.
"The first step was that the president had to admit there was a problem," she told reporters.

Under discussion are possible tax rebates for individuals, breaks for businesses, additional funds for food stamp recipients and the unemployed and possible help for the states in the form of funds to finish partially completed construction project.
In muted terms, Boehner urged Democrats to respond in kind by not seeking provisions that will drive the cost of the bill up and the Republicans away. "For this bill to become law, it cannot become a Christmas tree," he told reporters in the Capitol.

news.yahoo.com...;_ylt=AjtZEkAfYvqnJBfgqMIKIICs0NUE

reply to post by SEEWHATUDO


This is not stimulus but a mockery to the citizens of America after the fiasco done by trusted financial institutions ruled by corporate greed.

Corruption unrestricted by government.

More welfare checks and foods stamps with (now raised to 600 dollars check) is nothing but a band aid to the problems in our nation.

We have no industries to employ the unemployed and not wealth makers in our nation.

The poor will be more poor and the middle class that is still out there will be falling into the poverty lines as they start losing their jobs and the inflation hit the pockets.

We have morons running our nation.

It's no longer about America or the American people, the US is moving from a nationalist country to a globalist country. This means American corporations will chase profits around the world and don't make decisions in the national interest.

So as far as corporations are concerned, they can make alot more money from Chinese and Indian consumers than from American consumers (2.5 Billion vs 300 Million). They can also obviously produce goods much cheaper using their labour.

I thought this was an interesting analysis of what is happening.

Bush's Class Warfare:
www.informationclearinghouse.info...

Excerpt:

Wealth has become even more concentrated during the Bush years. Today, the richest one percent of Americans has 22 percent of all income and about 40 percent of all wealth. This is the biggest concentration of income and wealth since 1928. In 2005, average CEO pay was 369 times that of the average worker, compared with 131 times in 1993 and 36 times in 1976. At the pinnacle of America's economic pyramid, the nation's 400 billionaires own 1.25 trillion dollars in total net worth - the same amount as the 56 million American families at the bottom half of wealth distribution.

Meanwhile, despite improvements in productivity, the earnings of most workers have been stagnant, while the cost of health care, housing, and other necessities has risen. The basics of the American Dream - the ability to buy a home, pay for college tuition and health insurance, take a yearly vacation, and save for retirement - have become increasingly slippery. And for the 37 million Americans living below the official poverty line - $17,170 a year for a family of three - the dream has become a nightmare.

In many ways, America today resembles the conditions in the late 1800s that was called the Gilded Age. It was an era of rampant, unregulated capitalism. It was a period of merger mania, increasing concentrations of wealth among the privileged few, and growing political influence by corporate power brokers called the Robber Barons...The gap between the rich and other Americans widened dramatically.

It was also an era of massive immigration to the US...

WTH ???
a stimulus package ???

what I got to say to the powers that be is this:

Don't give me a handout ....

give me a better paying job !!!!!
give me a better means of support !!!!
you have stolen my way of life !!!!

a handout is just gonna be short term and after spent
it does nothing to help me 3 months down the road.
A better paying job will.

I think the feds are going about this whole stimulus in the wrong way.
Bring back ALL those f*****g jobs you sent to India, Taiwan, China,
Singapore, Malaysia, Mexico and the Philippines.

Our gubment has turned us into a 3rd world country with free trade.
I can't work for the same wage as a Chinaman. Make the
US companies use workers here or tell them to leave America.
Our gubment policy is: Engineered here but made in China !!!
Nice going boneheads !!!! Say you got that education from Yale?
Well I don't wanna go there then and I'll be danged if I ever
allow my kids to go there either.

But that's just my opinion

Originally posted by SEEWHATUDO
Anyone else feel like the poop is about to hit the fan?
How much more bad news can we get before the stock markets completely bottom out?

I was shocked when I read the early morning alert on CNN and watched as Bernanke essentially told Congress to find a sollution or embrace a recession ....

Especially since the stance just hours before had been "Ha, the economy is just fiiiiinee... now buy more stocks!" ...

But not only that, CNN had a video up in the early morning detailing several companies that are preparing massive layoffs..

Sprint, Watchovia, Bank of America as soon as take over Country Wide, Myril Lynch is expected to announce in the next month or so whether they will cut back, as well as Citi Group.

Mortgage offices had already been hit.

But now, it also appears the manufacturing sector could expect layoffs, and as a result of slow consuming the service sector will suffer.. especially over priced restaurants..

I wonder what this stimulus package will be. Well..... aside from a bunch of hot air..

I know it won't help me, even though I am considered "lower middle class" ..

The dollar is buying so much less because the fed is printing it hand over fist to try to keep the unavoidable economic collapse at bay. That’s why they no longer give us accurate money supply numbers.

inflationdata.com...

I'm afraid we may be heading for hyper inflation, which is the only way any country in the kind of debt the USA faces has ever dealt with their plight.

www.sjsu.edu...

If you haven’t made provisions to be self sufficient yet, please start now. Plan for the worst, hope for the best.

[edit on 17-1-2008 by resistor]

We have some of the most intelligent members on ATS so I ask you all what can they do to fix this?
Will they do what it takes to save the middle class or is the ultimate goal a 2 class system?
And if it can't be fixed what does our future hold?
And how do we prepare for it?
What do you all feel is the realistic time line?
Is it as bad as it seems?
Will our service industries be destroyed?
and finally do we all need to move to Sweden?

Originally posted by SEEWHATUDO
do we all need to move to Sweden?

pack your bags toots
it's gonna be a long ride
cuz Kansas is going bye-bye

there is no stopping it now
the wall has already started crumbling
the water is pouring through
only thing left to do now is ..... RRRRUUUNNNNN !