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Poverty Rises as Wall Street Billionaires Whine - Les Leopold

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posted on Sep, 19 2010 @ 04:40 PM
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Very insightful article.

Suggest anyone interested in knowing what is really going on to finish reading the article.


The ranks of the working-age poor in the United States climbed to the highest level since the 1960s as the recession threw millions of people out of work last year, leaving one in seven Americans in poverty. The overall poverty rate climbed to 14.3 per cent, or 43.6 million people, the Census Bureau said yesterday in its annual report on the economic well-being of US households. Gulfnews.com
While 43.6 million Americans live in poverty, the richest men of finance sure are getting pissy. First Steve Schwartzman, head of the Blackrock private equity company, compares the Obama administration's effort to close billionaires' tax loopholes to "the Nazi invasion of Poland." Then hedge fund mogul David Loeb announces that he's abandoning the Democrats because they're violating "this country's core founding principles" -- including "non-punitive taxation, Constitutionally-guaranteed protections against persecution of the minority, and an inexorable right of self-determination." Instead of showing their outrage about the spread of poverty in the richest nation on Earth, the super-rich want us to pity them?

Why are Wall Street's billionaires so whiny? Is it really possible to make $900,000 an hour (not a typo -- that's what the top ten hedge fund managers take in), and still feel aggrieved about the way government is treating you? After you've been bailed out by the federal government to the tune of $10 trillion (also not a typo) in loans, asset swaps, liquidity and other guarantees, can you really still feel like an oppressed minority?

You'd think the Wall Street moguls would be thankful. Not just thankful -- down on their knees kissing the ground taxpayers walk on and hollering hallelujah at the top of their lungs! These guys profited from puffing up the housing bubble, then got bailed out when the going got tough. (Please see The Looting of America for all the gory details.) Without taxpayer largess, these hedge fund honchos would be flat broke. Instead, they're back to hauling in obscene profits.

• What do these guys actually do that earns them such wealth?
• Is what they do productive and useful for society? Is there any connection between what they earn and what they produce for society?
• Did they help cause the crash?
• Did these billionaires benefit from the bailouts? If so, how much?
• Are they exacerbating the current unemployment and poverty crisis with their shenanigans?
• Why shouldn't we eliminate their tax loopholes (like carried interest)?
• Should their sky-high incomes be taxed at the same levels as during the Eisenhower years?
• Can we create the millions of jobs we need if the billionaires continue to skim off so much of our nation's wealth??
• Should we curb their wealth and political influence?

It's true that the billionaires live in a hermetically sealed world. But that doesn't mean they don't notice the riffraff nipping at their heels. And they don't like it much. So they've gotten busy doing what billionaires do best: using their money to shield themselves. They're digging into their bottomless war chests, tapping their vast connections and using their considerable influence to shift the debate away from them and towards the rest of us.

We borrowed too much, not them. We get too much health care, not them. We retire too soon, not them. We need to tighten our belts while they pull in another $900,000 an hour. And if we want to cure poverty, we need to get the government to leave Wall Street alone. Sadly, their counter-offensive is starting to take hold.

How can this happen? Many Americans want to relate to billionaires. They believe that all of us are entitled to make as much as we can, pretty much by any means necessary. After all, maybe someday you or I will strike it rich. And when we do, we sure don't want government regulators or the taxman coming around!

Source: www.huffingtonpost.com...




Don't know what else to add as Mr. Leopold has pretty much summed up the problem and that enough people either don't care or aren't aware of this real conspiracy.

It doesn't have to be like this folks, things have got to change.

We globally now have our governments bedding down with corporate heads and it is the small group of people that own these corporations that are screwing the rest of us royally.

Now, I'll wager this post will not get as many stars and flags as my circumcism post................and this affects all of us.


edit on 19-9-2010 by ofhumandescent because: (no reason given)




posted on Sep, 19 2010 @ 05:05 PM
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reply to post by ofhumandescent
 


I normally try to avoid responding to these types of threads because...well, I have my reasons and I'll leave it that.

However, you get a star and flag from me because this all just seems to be getting even more ridiculous than I could have ever imagined.

I didn't read your other thread but, I see what you mean as far as issues as important as this going unmentioned.



posted on Sep, 19 2010 @ 05:13 PM
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Excellent post my friend,

Unfortunately, they have us too busy tearing each others throats out to focus on this real issue. Who is rich and enslaving us isn't nearly as fun as beating up a republican or a democrat. Where have you been? Didn't you see the Christian vs Muslim battle the other day? Much more relevant to us peasants. Taking on the rich elite isn't near as much fun as kicking a liberal or conservative. Nah, this isn't anything to worry about. The tree hugger vs the lumber jack battle is on the discovery channel.

But me, I am a pacifist anyway. I don't watch such battles. Did you catch American Idol yesterday? Now that's entertaining. Much more so than caring about the fat cats who sit on thrones up high. I wonder what Paris Hilton is doing today. I'll be back after I catch up on my TV.


You make excellent points my friend. Sadly, this will be read, compartmentalized somewhere in the brain, and forgotten by next week as we turn to the next distraction pumped into our eyes and ears by media and the pursuit of a meager life, a smidgen of liberty, and at least a little more happiness than the next slave.

Articles like this make me rejoice at leaving it all behind! It wasn't easy, but well worth it.

Judge not, Love all, be at peace

With Love,

Your Brother



posted on Sep, 19 2010 @ 05:25 PM
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reply to post by IAMIAM
 


Couldn't agree with you more on everything you stated which is why I tend to not get sucked into all of the negativity. Once you get sucked in, it seems to be human nature to pick sides and then try to rip the opponents apart.



posted on Sep, 21 2010 @ 11:26 PM
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the persecution of minorites is a fact that is what the well off and so called rich are.

in the world we live in the only constitutional rights are that of minorities but what thats what we are talking about.

sooner or later the class warfare will have what it wants no more rich and then you will have no jobs no cars no homes, no ipods,no xboxs no ps3s and so on and so forth.


like or not the reason you people are " poor" is its the life you have made for yourselves you have done nothing to bring yourselves out of it the only things you people are doing is whining and crying and moaning about things you and you alone have the power to do something about but no you just site there and wait for a handout, a "Stimulus check" and this is the biggest reason you are where you are right now and where you will always be.


any "rich" person or "well off" person took his own destiny into his own hands and made the life he so wanted and thats why hes where he is thats why he is better off and his life will continue to be so.

a clear difference obviously im sick of these threads and i hate them with a passion the rich,banks and corporations are all where they are now because obviously they are doing things you are not.


YOU HAVE noone to blame but yourselves americans have become soft, they have become fat and they have become stupid and they are clearly leading a self destructive life.

people always go im a hard worker and blah blah blah. im telling you there is more to be sucessfully than just going to work putting in a full and comming home and sit on your couch.

how many americans change their own car oil?
how many americans clean their own homes?
how many americans mow their lawns?
how many americans invest?
how many people have savings accounts?
how many people put money in to iras and 401s?
how many people financially educate themselves to better their lives and make better descision concerning their money?
and so on and so forth.

people come back and say " but i dont make enough" then go out and get another job

people say but my home and car payments are too high - well you should have bought a cheaper ones.

people need to wake up and realize the facts they they dont need half the crap they do they want it.

and it is that "i want it mentality" and "i deserve it" are the reasons they are in the situtations they are currently in and thats why you will always be there.


the rich or well off have every right to complain for the simple fact they have earned their money thats a foreign concept to the majority of americans. too many people think that just cause someone has too much they dont deserve it and you are seriously mistaken.



posted on Sep, 22 2010 @ 12:05 AM
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Originally posted by neo96


a clear difference obviously im sick of these threads and i hate them with a passion the rich,banks and corporations are all where they are now because obviously they are doing things you are not.



Ya, they get access to cheap, Fiat currency and sell it at a premium. They hide behind a fictitious entities,
and corrupt our government in an effort to slant the entire system in their favor. They constantly lend more money then they have and are virtually free to make massive profits on imaginary money and binary code. They do a lot that many of us don't do -

Seems to me you have a whole lot of blind hate for the every day American



posted on Sep, 22 2010 @ 07:55 AM
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Originally posted by neo96

the persecution of minorites is a fact that is what the well off and so called rich are.


You have this backwards my friend. It is the majority (poor) who are persecute by the minority (rich).


Originally posted by neo96in the world we live in the only constitutional rights are that of minorities but what thats what we are talking about.


Correct.


Originally posted by neo96sooner or later the class warfare will have what it wants no more rich and then you will have no jobs no cars no homes, no ipods,no xboxs no ps3s and so on and so forth.


It will be tough at first. But, in time we will learn the more important things are more entertaining, like taking care of each other.



Originally posted by neo96like or not the reason you people are " poor" is its the life you have made for yourselves you have done nothing to bring yourselves out of it the only things you people are doing is whining and crying and moaning about things you and you alone have the power to do something about but no you just site there and wait for a handout, a "Stimulus check" and this is the biggest reason you are where you are right now and where you will always be.


He who sits on a mountain of material wealth while his family starves, is poorer than the Man who has none of that wealth, but shares what he has abundantly with others.



Originally posted by neo96any "rich" person or "well off" person took his own destiny into his own hands and made the life he so wanted and thats why hes where he is thats why he is better off and his life will continue to be so.


Yes. And, alone he will remain and die. If thats what he considers better off, he can keep it.


Originally posted by neo96a clear difference obviously im sick of these threads and i hate them with a passion the rich,banks and corporations are all where they are now because obviously they are doing things you are not.


If you hate them so much, why oh why do you continue to torment yourself with them? Is their not a banking forum that you would prefer?



Originally posted by neo96 YOU HAVE noone to blame but yourselves americans have become soft, they have become fat and they have become stupid and they are clearly leading a self destructive life.


Yes, you are right here. YOU have no one to blame for what you have become but yourself.


Originally posted by neo96people always go im a hard worker and blah blah blah. im telling you there is more to be sucessfully than just going to work putting in a full and comming home and sit on your couch.


You hit the mark yet again. There is a lot more to being successful than merely good work. There is good work with a good purpose. If your good work only serves yourself, then only yourself will enjoy the fruits of your labor. If your good work is for the service of all, all will benefit from your labor. The love and adoration you receive will be fitting of your work.


Originally posted by neo96and it is that "i want it mentality" and "i deserve it" are the reasons they are in the situtations they are currently in and thats why you will always be there.


Your aim is true yet again my friend. You are obviously happy with your situation. Your joy oozes through this post.



Originally posted by neo96the rich or well off have every right to complain for the simple fact they have earned their money thats a foreign concept to the majority of americans. too many people think that just cause someone has too much they dont deserve it and you are seriously mistaken.


They have earned their money by learning the game, by being better thieves than the petty thieves. For now, that is the way the rules of the game make them. Times, they are a changing though. Better learn the new rules of the game, if you want to continue to be a skillfull player.

Judge not, Love all, be at peace.

With Love,

Your Brother



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