Wealth is being transferred from the poor and middle to the rich at stupefying speed

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posted on Feb, 15 2011 @ 04:39 PM
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If this doesn't get you riled up then nothing will. George Monbiot writes about how politicians serve their corporate masters.

This is Mainstream media saying what people on ATS have been saying for years. This must be considered a success and everybody needs to spread this message.
Guardian Link




To understand its position, you must first understand that the government is not managing the economy for the people of this nation. It is managing it for a tiny transnational elite, a kind of global gated community. To the people inside the gates, who fund the Conservative party, who own our politics, the media and the banks, the rest of us are an inconvenience, to be bribed, threatened or fooled.




posted on Feb, 15 2011 @ 04:47 PM
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But I thought Obama was trying to spread the wealth form rich to the poor?



how do you take something from nothing?
edit on 15-2-2011 by bknapple32 because: (no reason given)



posted on Feb, 15 2011 @ 04:49 PM
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reply to post by Thoriumisbest
 


SIGHHHhhh,
How about some truth?

Like President Clinton, President Reagan and President Bush, history will point to Obama as one of the five presidents that INTENTIONALLY CAUSED world wide hunger and the starvation of millions of children and caused the economic collapse of the USA.


Here are the critical moves by each president that will lead to the coming Great Depression:

#1. Reagan - facilitate Leveraged buyouts/Hostile takeovers

....Both economic and regulatory factors combined to spur the explosion in large takeovers and, in turn, large LBOs. The three regulatory factors were the Reagan administration's relatively laissez-faire policies on antitrust and securities laws, which allowed mergers the government would have challenged in earlier years; the 1982 Supreme Court decision striking down state antitakeover laws (which were resurrected with great effectiveness in the late eighties); and deregulation of many industries, which prompted restructurings and mergers. The main economic factor was the development of the original-issue high-yield debt instrument. The so-called "junk bond" innovation, pioneered by Michael Milken of Drexel Burnham, provided many hostile bidders and LBO firms with the enormous amounts of capital needed to finance multi-billion-dollar deals.... www.econlib.org...



#2. Clinton - World Trade Organization, NAFTA, Formation of Mega Banks, "Most favored Nation Status" - China

1995 World Trade Organization Agreement on Ag and 1996 Freedom to Farm Act, both written by VP of Cargill Dan Amstutz. Amstutz later joined


Today's global food crisis shows "we all blew it, including me when I was president," by treating food crops as commodities instead of as a vital right of the world's poor, Bill Clinton told a U.N. gathering on Thursday. UNITED NATIONS, Oct. 23, 2008



President Bill Clinton, now the UN Special Envoy to Haiti, publicly apologized last month for forcing Haiti to drop tariffs on imported, subsidized US rice during his time in office. The policy wiped out Haitian rice farming and seriously damaged Haiti’s ability to be self-sufficient. www.democracynow.org...


Consolidation of Mega Banks, AIG Bailout and Foreclosuregate: Quick list of Banking laws


After the Great Depression, several laws were put in place to prevent another depression. The 1933 and 1934 Security and Exchange laws, The McFadden Act of 1927, The Glass-Steagall Act or Banking Act of 1933. Also Bank Holding Company Act of 1956.

Clinton's laws Negating above: Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 and Gramm-Leach-Bliley Act of 1999

More pro-banking Clinton laws:
Federal Deposit Insurance Corporation Improvement Act of 1991:Allowed big banks to gobble up smaller banks more easily.

Housing and Community Development Act of 1992 and RTC Completion Act - Housing and business loans to minorities.

Commodity Futures Modernization Act of 200 - left CDSs unregulated and set up AIG bailout and Foreclosuregate.

#3 Bush - Wars, Patriot Act, John Warner Defense Authorization Act of 2007

Wars are costly to those fighting them and profitable to those financing them. If the "winning" country does not gain appreciable amounts of land and resources to offset the cost of war, the war make absolutely no sense---- UNLESS of course you are a banker. Bankrolling the Bolshevik Revolution and Bankers and WAR

Patriot Act:
It is very interesting to read the Patriot Act. It addresses border security at the Canadian border but now where in the document does it address the Mexican border despite Radical Islam makes inroads among Latin America's Native peoples

Of course Bush and the bankers see nothing to fear from the Muslims given their "intimate" connections.
Therefore the only real reason for the Patriot Act is to oppress "Homegrown Terrorists" On February 14 2008 U.S. Northern Command, Canada Command established new bilateral Civil Assistance Plan allowing Canadian troops to be used to "respond quickly to the other nation's requests for military support of civil authorities,” and the John Warner Defense Authorization Act of 2007 repealed Posse Comitatus.

The Military Commissions Act, allows the president to station military troops anywhere in the United States and take control of state-based National Guard units without the consent of the governor or local authorities, in order to “suppress public disorder.”

Clinton was not to be out done by Bush in preparing for insurrection.

So Where Do Anti-Hoarding Laws Come In?

These ideas of anti-hoarding legislation may have stemmed from two areas of confusion:

First is from Executive Orders in place dating back to 1939 which Clinton has grouped together under one order, EO #12919 released on June 6, 1994. The following EOs all fall under EO#12919:

10995--Federal seizure of all communications media in the US;
10997--Federal seizure of all electric power, fuels, minerals, public and private;
10998--Federal seizure of all food supplies and resources, public and private and all farms and equipment;
10999--Federal seizure of all means of transportation, including cars, trucks, or vehicles of any kind and total control over all highways, seaports and water ways;
11000--Federal seizure of American people for work forces under federal supervision, including the splitting up of families if the government so desires;
11001--Federal seizure of all health, education and welfare facilities, both public and private;
11002--Empowers the Postmaster General to register every single person in the US
11003--Federal seizure of all airports and aircraft;
11004--Federal seizure of all housing and finances and authority to establish forced relocation. Authority to designate areas to be abandoned as "unsafe," establish new locations for populations, relocate communities, build new housing with public funds;
11005--Seizure of all railroads, inland waterways and storage facilities, both public and private;
11051--Provides FEMA complete authorization to put above orders into effect in times of increased international tension of economic or financial crisis (FEMA will be in control incase of "National Emergency").

These EOs are not aimed at anti-hoarding but rather at seizure or confiscation of items... www.millennium-ark.net...


#5 Obama - Bankrupt the American people and push them towards revolt.

Obama-Dodd financial bill would further enrich Goldman Sachs The "bill would reward the firm with potentially billions of dollars by instituting a so-called “resolution authority” that would, in practice, be a permanent bailout fund."

Obama loan modification program actually forces foreclosures:


Even though many homeowners are put into trial Making Home Affordable Programs, thousands of homeowners complain that a few months after making reduced monthly mortgage payments their banks avoid permanent loan modifications. By now, it's no secret that home loan servicers are making money on foreclosures rather than approving home loan modifications. www.suite101.com...


Although the article admits "Homeowners are tired of sending the same paperwork again and again and getting the runaround from their banks.." It neglects to say that after many months of drag the process out, the banks then hand the cash strapped homeowner a colossal bill for back payments, penalties, added interest AND LAWYERS FEES! You are given one month to make the payment or the bank forecloses. IF by some miracle you manage to scrap up the payment you get ANOTHER run around with the bank refusing to name the exact amount need to avoid foreclosure.

It took SIX MONTHS for my lawyer to pin the S.O.B.s down! Here is the reason why

“To ensure that the mortgage servicer pushes default instead of workout, the servicer is paid double (50 basis points versus 25 basis points) by the MBS to service a loan in default. Why do you think your servicer tells you that you must be in default before it will consider a mortgage modification, a practice known as invited default?

“Simply put,” says Parker, “the government bailout of AIG has actually encouraged foreclosures because the taxpayers continue to fill AIG’s coffers with enough cash to pay out insurance on defaulted home loans.”

...CDS premium revenue is not restricted to those who might have actual losses or real assets to protect. You can bet as much as you want and create as many CDS as you want....
www.realtytrac.com...


50% of the US labor force work for small business. Obamacare makes a change in the tax law governing 1099's that is going to be a NIGHTMARE for ALL businesses and force many small businesses to close their doors. Worse it will greatly impede the start of new small businesses.

The second fiasco is the food safety law. Most American farmers, despite the media's hype, have to work a second job to support their farm. Very few farms actually get tax payer money and those are normally the large corporate farms. The addition of food safety regulation and the new 1099 tax changes are going to push many out of business.

This destruction of American farming is intentional and started right after WWII. The key moves were the 1995 World Trade Organization Agreement on Ag and the 1996 farm bill called the "Freedom to Farm Act" both written by the VP of Cargill Dan Amstutz. Those two not only wiped out many farmers in the US but all over the world. The "Freedom to Farm Act" also got rid of the US strategic grain reserve. As of 2008 the USDA reported "The Cupboard is bare"



The economic disparity between industrial farms and those that retain locally owned and controlled farms may be due in part, to the degree in which money stays in the community. Locally owned and controlled farms tend to buy their supplies and services locally, thus supporting a variety of local businesses. This phenomenon is known as the economic “multiplier” effect, estimated at approximately seven dollars per dollar earned by the locally owned farm. PEW REPORT


The total economic impact of farming for my state, North Carolina, was over $704 million in 2002. Only 171 Farms of the 53930 NC farms are not Family held.


MORE GOVERNMNET IDIOCY
Obama-Dodd financial bill would further enrich Goldman Sachs The "bill would reward the firm with potentially billions of dollars by instituting a so-called “resolution authority” that would, in practice, be a permanent bailout fund."

Barack Obama has reshuffled his staff, bringing in the trio who under Clinton gave us WTO, NAFTA, repeal of the Glass-Steagall Act and China’s entry into the WTO. These are the same dudes who are responseble for exporting millions of American jobs. www.economyincrisis.org...

Now the monster we call a government is after our life savings.
US Departments of Labor and Treasury Schedule Hearing on Confiscation of Private Retirement Accounts


Leveraged Buyout References:
en.wikipedia.org...
www.econlib.org...
www.economicnoise.com...
lawprofessors.typepad.com...
rismedia.com...
www.nytimes.com...

References on Housing Market Crash:
www.webofdebt.com...
www.realtytrac.com...
www.democracynow.org...
www.suite101.com...

Farm References
FOOD SAFETY:
John Munsell's Comment in this article is the best description of the food safety problem I have seen: www.marlerblog.com...
www.forbes.com...
(Tester amendment is scam) www.activistpost.com...
(Home Gardens) www.examiner.com...

Background and History
www.opednews.com...
1996rFeedom to farm Act: archive.corporatewatch.org...
domesticpolicy.oversight.house.gov...

www.smirkingchimp.com...
www.smirkingchimp.com...
www.smirkingchimp.com...



posted on Feb, 15 2011 @ 04:53 PM
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"Wealth being transferred from the poor and middle to the rich at stupefying speed"

Wealth from the poor???



posted on Feb, 15 2011 @ 04:53 PM
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don't buy an ipod, ipad, plasma tv's, don't shop at walmart, home depot, eat at mcdonalds, kfc (satan's personal corporation) or burger king, don't use banks or credit cards, don't fill up at esso and shell and you pretty much won't be transfering your wealth to the rich.



posted on Feb, 15 2011 @ 04:55 PM
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The US of A has been an oligarchy for quite a while now. The poor/middle class will never go against the "rich" as long as they believe there is a possibility of themselves obtaining a piece of that pie. In most western cultures wealth=power=control=happiness. We're taught at a young age that if you work hard, and apply yourself, your opportunities are infinite. I believe most of us, now-a-days, learn the cold, harsh truth as soon as we enter the workforce that it takes a hell of bit more then just hard work, ingenuity, and skill to rise to the top.

Many times, being a "good person" and being a "good businessperson" are at complete opposites of the moral spectrum. Greed, exploitation, deceitfulness, and callousness are often greatly rewarded. That's not to say that all rich and successful business people are scumbags - it's just that the way our economy is set-up, corporations/business serve only one purpose, and one purpose only- profit. There's more to life then "profit". Life shouldn't be like a video game, where the whole point is to get a higher score then the other guy, but sadly, it's the world we live in.
edit on 15-2-2011 by Syyth007 because: (no reason given)



posted on Feb, 15 2011 @ 05:01 PM
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people always complain about robin hood economics (stealing from the rich to give to the poor)
but the rich have been stealing from the poor to give to the rich since the beginning of time. case in point, the new world, raped and pillaged in the name of imperialism. the rich are just so much better at propoganda to cover up these atrocoties. i think its a guilty feeling they harbor about being so morally wrong that they want to justify their actions by calling any other way of life THE ENEMY.
edit on 15-2-2011 by conspiracy nut because: spelling



posted on Feb, 15 2011 @ 05:02 PM
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Englands F**k'd....

This # needs to be front page news. I tell my mates this # and they dont beleive we're getting shafted by an set of elite power trippin mad bastads.

these guys need locking up, satan's minions.



posted on Feb, 15 2011 @ 05:03 PM
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reply to post by Syyth007
 


Meh, I understand its usually more of who you know rather than what you know. But one can still control the circles they are in. Its just that, sometimes it takes a little more than others. Its still attainable however. Your outlook seems too morbid for me. Its not blind faith to think one can succeed in this country despite the evil ones in charge.



posted on Feb, 15 2011 @ 05:04 PM
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reply to post by Ronin22
 





Wealth from the poor???


YES! Wealth from the poor. Remember over 40% of the Federal debt is owed the Federal Reserve. 100% of our personal taxes goes to pay that debt.

That does not include the 151 Taxes on a Loaf of Bread per President Ronald Reagan. It does not inclde all the business loans, property loans and credit card debt. All "fraudulent fiat fairy dust" loaned by the criminal banks that EVERYONE ends up paying interest on.



posted on Feb, 15 2011 @ 05:52 PM
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reply to post by Ronin22
 


I guess wealth is relative. You might only be able to squeeze a few dollars from the poor but if there's ten million of them it means a new yacht, or summerhouse.



posted on Feb, 15 2011 @ 05:54 PM
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reply to post by n00bUK
 


Yeah you've pretty much summed up my reaction too.



posted on Feb, 15 2011 @ 06:13 PM
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Today I came upon a very interesting article in what I think was "Business Week". The article was from 2009, but the information within is very telling even for today.

The article talked about Mexican banks finding a very profitable niche; lending to the poor. While here in the U.S. you will see APR financing at about 28%-30% for bad credit, in Mexico banks lend at up to 150% APR, and they are not required to disclose the rate to the person applying for the loan! Although poor Mexicans will borrow very small amounts of money (anywhere from $150 - $1,000.00), the high APR percentage over long periods of time will accumulate to a large amount of profit for the banks. It proved to be so profitable, that Walmart decided to open their own branch of lending in Mexico (lending at about 80%APR), something they couldn't get away with in the U.S. Since poor Mexicans can't afford to buy TVs, washers, phones and the like outright, they like to finance everything they buy. The stores advertise items as "Only $23.00 per week!" which makes the poor feel like it's a more manageable amount. When they stop making payments, the bank sends out collectors on motorcycles. If the person can't pay, the bank/store will take back the item to repay the loan, even if the person had already paid the full price of the item, but didn't pay back the interest. By taking back the item the store has now essentially made free money.

I can look at this in two ways. By lending money to the poor and making more expensive items accessible even to the poor, the poor benefit by being able to buy whatever it is they need. On the other hand it is absolutely clear that these Mexican banks and Walmart are completely taking advantage of the poor, and making them pay twice the amount for an item that a more wealthy person can buy for far less money. These banks lobbied their Government, and the Mexican Government basically rolled over and allowed them to do whatever the hell they want to do. They don't have to disclose anything to the consumer, and they can change the APR whenever they feel like it. It is completely unregulated and insane. Let's be glad that stuff isn't happening here in the U.S. and let's make sure it never does happen. Banks should be able to charge interest on a loan, that's one way of how they make their money, it's a fair practice, but that practice must be bridled and balanced. To rape poor people simply because they are poor is unethical and unjust.

Here's a link to a similar article: Microfinance Goes Awry: Case Study of Bank Compartamos’ Interest Rates
edit on 15-2-2011 by 2manyquestions because: (no reason given)



posted on Feb, 15 2011 @ 06:21 PM
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It is simple to understand really. As power flows upward: From individuals, to municipalities, to states, to federal government, then to international organizations, the power then moves from the most ordinary and widespread of the populous (working class/poor) up to only those who are able to operate the functions at the highest levels (elite/wealthy).

As the power goes so goes the wealth, that is the easiest way to describe it. Because the power moves up the ladder so too does the wealth, as power and wealth are intertwined.

When wealth is more evenly and naturally distributed this is when we have local government, thus power at the lowest level, the individuals. When wealth is more concentrated and unnaturally distributed this is when we have higher government, thus power at the highest level, the international elite.



posted on Feb, 15 2011 @ 06:24 PM
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I don't know guys, it doesn't make sense that a me, a 20 year old, who makes less than 25k a year had to pay over 400 dollars in taxes to poor people on unemployment in the US.



posted on Feb, 15 2011 @ 06:41 PM
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Originally posted by 2manyquestions
Today I came upon a very interesting article in what I think was "Business Week". The article was from 2009, but the information within is very telling even for today.

The article talked about Mexican banks finding a very profitable niche; lending to the poor. While here in the U.S. you will see APR financing at about 28%-30% for bad credit, in Mexico banks lend at up to 150% APR, and they are not required to disclose the rate to the person applying for the loan! Although poor Mexicans will borrow very small amounts of money (anywhere from $150 - $1,000.00), the high APR percentage over long periods of time will accumulate to a large amount of profit for the banks. It proved to be so profitable, that Walmart decided to open their own branch of lending in Mexico (lending at about 80%APR), something they couldn't get away with in the U.S. Since poor Mexicans can't afford to buy TVs, washers, phones and the like outright, they like to finance everything they buy. The stores advertise items as "Only $23.00 per week!" which makes the poor feel like it's a more manageable amount. When they stop making payments, the bank sends out collectors on motorcycles. If the person can't pay, the bank/store will take back the item to repay the loan, even if the person had already paid the full price of the item, but didn't pay back the interest. By taking back the item the store has now essentially made free money.

I can look at this in two ways. By lending money to the poor and making more expensive items accessible even to the poor, the poor benefit by being able to buy whatever it is they need. On the other hand it is absolutely clear that these Mexican banks and Walmart are completely taking advantage of the poor, and making them pay twice the amount for an item that a more wealthy person can buy for far less money. These banks lobbied their Government, and the Mexican Government basically rolled over and allowed them to do whatever the hell they want to do. They don't have to disclose anything to the consumer, and they can change the APR whenever they feel like it. It is completely unregulated and insane. Let's be glad that stuff isn't happening here in the U.S. and let's make sure it never does happen. Banks should be able to charge interest on a loan, that's one way of how they make their money, it's a fair practice, but that practice must be bridled and balanced. To rape poor people simply because they are poor is unethical and unjust.

Here's a link to a similar article: Microfinance Goes Awry: Case Study of Bank Compartamos’ Interest Rates
edit on 15-2-2011 by 2manyquestions because: (no reason given)


Wait, so gouging people at 30 percent APR is ok, but once it gets up to 80, well, then you just have to draw the line? There is a reason that the Bible absolutely FORBIDS usury, charging interest on a loan. This has been modified to where "usury" is just charging interest that is above some unspecified amount....yes they are gouging these Mexicans down here, but they are screwing you guys over too, just at a slightly slower rate.

No matter what the amount of interest, the lender eventually ends up owning EVERYTHING. It's a mathematical certainty. This is why usury used to be forbidden, but everyone was somehow tricked into allowing it. This is why the banksters want this war against Islam, because they still forbid usury.



posted on Feb, 15 2011 @ 06:45 PM
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Originally posted by doom27
I don't know guys, it doesn't make sense that a me, a 20 year old, who makes less than 25k a year had to pay over 400 dollars in taxes to poor people on unemployment in the US.


You don't. That money just goes to pay off some of the INTEREST on the "money" that the Fed printed up then "loaned" to the govt. This "loan" can mathematically never be paid off, but the govt can still "borrow" more to give to the poor people on unemployment.



posted on Feb, 15 2011 @ 07:33 PM
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reply to post by CaptChaos
 


I didn't say it was OK to charge 30% interest. It's high, but the high interest is a result of not paying bills on time, if at all. If you pay your bills on time, you can get a low APR, somewhere around 9% and lower for credit cards, and in some cases 0% APR for certain purchases such as cars. Arguably 9% can still be high, but the point is that you have some control over what APR you end up paying. The fact of the matter is that if you want a car and you can't afford to pay $20,000.00 all at once, it is nice to be able to make payments on that car (with good credit, usually at around 1.9%). Nobody is responsible for lending you money. Having money lent to you for things you can't afford to buy is a service that comes at a price. The person lending you money takes a risk of losing all the money loaned, and that's why people who repay their loans are rewarded with low interest while people with bad credit are loaned at much higher interest rates. In Mexico people get charged over 100% interest even if they have a history of paying their bills on time, something that doesn't happen in the U.S. and that is why I brought it to attention.



posted on Feb, 15 2011 @ 09:18 PM
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Thank you for sharing a most informative article. Your last sentence sums it up.

Originally posted by 2manyquestions
To rape poor people simply because they are poor is unethical and unjust.


Granted not as bad as US, but I noticed in the 1990s poor people here lined up at the new "payday loans" businesses. Pretty soon these "cash advance" places were all over town.




Originally posted by 2manyquestions
The stores advertise items as "Only $23.00 per week!" which makes the poor feel like it's a more manageable amount.


Substitute "middle class" for poor, and one has what has happened here the last 30 years. Especially on big ticket items like house, car, furniture, etc. In the 1950s and '60s, my parents paid off houses in 5-10 years, cars in 2 or 3, and could pay cash for furniture or appliances. After that, the middle class dollar could no longer cover the higher prices on these items, so loans stretched out further and further.




Originally posted by 2manyquestions
When they stop making payments, the bank sends out collectors on motorcycles. If the person can't pay, the bank/store will take back the item to repay the loan, even if the person had already paid the full price of the item, but didn't pay back the interest. By taking back the item the store has now essentially made free money.


Again not as bad as Mexico, but I found out about a swindle here with used car lots. When I sold my old but running clunker, an acquaintance told me about a used car dealer he knows who would have loved that car, as he puts them on his lot for poor people to buy, loans them the money, then when they fall behind (as he knows they will) he repoes the car and puts it back on the lot to sell again...and again...at the same price.





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