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10 Reasons Why Your Economic Pain Isn't 'Mental'

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posted on Jul, 11 2008 @ 11:25 AM
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10 Reasons Why Your Economic Pain Isn't 'Mental'


thinkprogress.org

From his lucrative perch atop Wall Street, Gramm may not be able to see the suffering of most Americans. And McCain’s own life of luxury may have clouded his understanding. So here’s a reminder of 10 real examples of how Americans are hurting in the current economy:

HOUSING FORECLOSURES INCREASING: As a result of the subprime lending crisis, “housing foreclosures nationwide were up 50% in June compared with the same month in 2007.” In California alone, foreclosures have reached an average of 500 per day.

HOMELESSNESS INCREASING: The number of homeless over the age of 50 are “steadily increasing.”

(visit the link for the full news article)




posted on Jul, 11 2008 @ 11:25 AM
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Timely article with all the fluff pieces out there as of late. These idiotic billionaire politicians, and moronic polls telling us all how "happy" we are, and how everything is going so great!


GAS PRICES RISING: The national average gas price is $4.09, up 33% from this time last year. Gas prices are now expected to hit “$4.25 by the fall and then stay at more than $4 a gallon until the end of 2009.”

JOB LOSSES INCREASING: In the first six months of this year, a total of 438,000 jobs have been lost, bringing unemployment to 5.5%. The CEO of Bank of America commented, if unemployment continues to rise, “all bets are off.”

FOOD COSTS RISING:



thinkprogress.org
(visit the link for the full news article)



posted on Jul, 11 2008 @ 11:40 AM
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I've only recently realized that Gramm is high up in UBS. I didn't notice this anywhere else on ATS and its well beyond breaking now, but UBS has recently faced some serious scrutiny for helping US citizens evade taxes. They had a US based employee roll on them as well.

From Bloomberg


A Miami federal judge today authorized the IRS to issue a summons to Zurich-based UBS for the information. Earlier last month, former UBS private banker Bradley Birkenfeld pleaded guilty to conspiracy and said the bank helped wealthy U.S. citizens conceal $20 billion in assets and evade income tax.


Gramm is a huge liability to McCain. Enough of one for me to reconsider how i'm going to vote this year.



posted on Jul, 11 2008 @ 11:53 AM
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reply to post by jefwane
 


Gramm a liability to McCain?

McCain knows this man, worked with him for years in Congress. He knew the mans economic ideas and liked what he saw, that's how he became McCain's economic adviser.

Do you really think McCain didn't know Gramm's involvement with USB or what they were doing? Heck, he probably saved McCain some money too!

He picked Gramm for who he is and for his economic, shall we say, "savvy".

Gramm's a crook though in my book!

[edit on 7/11/2008 by Keyhole]



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