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Octafish

(55,745 posts)
Sun May 29, 2016, 02:14 PM May 2016

Redistributing Wealth

Upwards, ever upward.



These are the richest times in human history.

David Stockman says 7/8 of all wealth ever created has been created since 1981. Most all of it has fallen into the pockets of the rich.

So, what happened to the Middle Class? And the poor, where did they go?

Anyone care? They should.

58 replies = new reply since forum marked as read
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Redistributing Wealth (Original Post) Octafish May 2016 OP
They run for President so they can influence our economy for their heirs and their friends. insta8er May 2016 #1
The Dulles Brothers School Octafish May 2016 #10
Pushing back against democracy. That is the most telling jwirr May 2016 #18
Thank Gore for the Internet. Octafish May 2016 #19
+1 mmonk May 2016 #40
They are laughing at all of us proles. PowerToThePeople May 2016 #2
To make sure we don't catch on, the elite give us AUSTERITY. Octafish May 2016 #16
It appears that the world has forgotten the Reign of Terror jwirr May 2016 #22
The meme should be "Paying for the value of work". SharonAnn May 2016 #3
Absolutely! Octafish May 2016 #26
redistribution enid602 May 2016 #4
Learned at the hand of a master criminal, his father. Octafish May 2016 #33
A wealth distribution where middle, working, poor, young, and elder demographics PufPuf23 May 2016 #5
And those capitalists have missed the biggest point: Some jwirr May 2016 #23
Yes. Their argument is that everyone benefits from free trade but in practice that is not the case. PufPuf23 May 2016 #28
They want all the money and JEB May 2016 #6
UBS 'n' Tex-us 'n' Just-Us Octafish May 2016 #44
Not only did they pocket most of the wealth made in the last few decades they've rhett o rick May 2016 #7
"We need a revolution." Lizzie Poppet May 2016 #12
It has to be non-violent. The Oligarchy would love an excuse to remove more of our rights and rhett o rick May 2016 #13
Well...that's the overwhelming preference, anyway. Lizzie Poppet May 2016 #15
Violent revolutions might succeed in changing the leadership but usually the results rhett o rick May 2016 #20
Oligarchy! CorkySt.Clair May 2016 #45
I am guessing that is about as deep as you go. I picture you with fingers in your ears, rhett o rick May 2016 #50
Oligarchy! CorkySt.Clair May 2016 #55
Oligarchy, Oligarchy, Oligarchy, ignore list, rhett o rick May 2016 #56
Oligarchy! Oligarchy! Oligarchy! CorkySt.Clair May 2016 #57
Buy Partisan Trickle Down Economics is now the gold standard. Octafish May 2016 #46
"PS: If the Congress and Bush and Obama administrations had followed Bernie Sanders' lead, the rhett o rick May 2016 #47
sitting between Bush and Jones and laughing it up. Disgusting. liberal_at_heart May 2016 #8
Jones? jwirr May 2016 #24
Jerry Jones, owner of the Dallas Cowboys, a man who made it big in the oil biddniss. Octafish May 2016 #27
Sounds like another Bill. jwirr May 2016 #30
In an Eyes Wide Shut kind of way. Octafish May 2016 #31
They want it all. Every last dime. CrispyQ May 2016 #9
Yep. Carlin absolutely nailed it. Lizzie Poppet May 2016 #14
That's where Larry Summers, who whitewashed the Bankster Bailout, comes in. Octafish May 2016 #37
+1 mmonk May 2016 #41
There's never enough for greedy piggies, never. nt nc4bo May 2016 #11
Wealth of richest 400 Americans surges to $2.29 trillion! That's a WOW! Octafish May 2016 #38
I am sure that your graph is too complicated for those that support the Wealthy. rhett o rick May 2016 #48
As, not coincidentally, has the stock market whatthehey May 2016 #54
When you can print your own money, assign your own value and merit to it, felix_numinous May 2016 #17
You are most welcome, felix_numinous. The Cree prophecy is haunting. Octafish May 2016 #39
Aw, look at 'em all happy and smiling. Happier times. vintx May 2016 #21
Anyone listening? Urchin May 2016 #25
People aren't paid a living wage because the rich must have the lion's share. Vinca May 2016 #29
How about my mortgage? That'd help a lot. Octafish May 2016 #32
yup shanti May 2016 #58
I hope the Rockefellers appreciate DU running interference for them. n/t lumberjack_jeff May 2016 #34
Hypnosis for a better Hypocrisy Octafish May 2016 #36
why is Bush transmogrifying into Adam DeVine? MisterP May 2016 #35
Switzerland? Octafish May 2016 #42
And apparently all those Hillary supporters want the rich to get richer at THEIR expense. pdsimdars May 2016 #43
I think you give them too much credit. They are not fighting for anything and that's the problem. rhett o rick May 2016 #49
Thank you for promoting honest discussions here. rhett o rick May 2016 #51
Wikileaks vs. the Empire: the Revolutionary Act of Telling the Truth (John Pilger) Octafish May 2016 #52
The comfort of the rich relies on an abundant supply of the poor. Voltaire Tierra_y_Libertad May 2016 #53

Octafish

(55,745 posts)
10. The Dulles Brothers School
Sun May 29, 2016, 03:17 PM
May 2016

Here's why we need separation of Wall Street from Washington DC:



Secretary of State John Foster Dulles was reported to be fond of Diego Rivera's mural telling the story of the CIA-led 1954 coup d'etat in Guatemala, using it for a Christmas card one year.

Is the Clinton Foundation the Dulles Brother’s Sullivan and Cromwell?

by JOHN STANTON
CounterPunch, APRIL 15, 2016

According to CounterPunch editors Alexander Cockburn and Jeffrey St. Clair:

“The desire for secrecy is one of Mrs. Clinton’s enduring and damaging traits…Befitting a Midwestern Methodist with a bullying father, repression has always been one of Mrs. Clinton’s most prominent characteristics. Hers has been the instinct to conceal, to deny, to refuse to admit any mistake. Mickey Kantor, the Los Angeles lawyer who worked on the 1992 (presidential) campaign, said that Hillary adamantly refused to admit to any mistakes. Since Vietnam, there’s never been a war that Mrs. Clinton didn’t like. She argued passionately in the White House for the NATO bombing of Belgrade. Five days after September 11, 2001, she was calling for a broad war on terror…“I’ll stand behind (George W.) Bush for a long time to come”, Senator Clinton promised, and she was as good as her word, voting for the Patriot Act and the wide-ranging authorization to use military force against Afghanistan…Of course she supported without reservation the attack on Afghanistan and, as the propaganda buildup toward the onslaught on Iraq got underway, she didn’t even bother to walk down the hall to read the national intelligence estimate on Iraq before the war.”


As Secretary of State, Hillary Clinton instigated and legitimized the overthrow of the Honduran government in 2009 not all that unlike the 1954 Guatemala Coup engineered primarily by CIA Director Allen Dulles, supported by Secretary of State John Foster Dulles, and with the glowing approval of President Dwight Eisenhower.

In a March 2016 interview with Amy Goodman on Democracy Now, Greg Grandin, a professor of Latin American history at New York University, discussed the fallout from the 2009 Honduran Coup. “I mean, hundreds of peasant activists and indigenous activists have been killed. Scores of gay rights activists have been killed. I mean, it’s just—it’s just a nightmare in Honduras. I mean, there’s ways in which the coup regime basically threw up Honduras to transnational pillage. And Berta Cáceres , in that interview, says what was installed after the coup was something like a permanent counterinsurgency on behalf of transnational capital. And that was—that wouldn’t have been possible if it were not for Hillary Clinton’s normalization of that election, or legitimacy.”

In an April interview with Dana Frank, professor of history at the University of California, Santa Cruz, on Democracy Now, Frank indicated that President Obama had basically turned over Central and South America to Hillary Clinton. Frank then said this: “I think it’s really about the U.S. pushback against the democratically elected governments of the left and the center-left that came to power in Latin America in the ’90s and in the 2000s—Venezuela, Bolivia, Argentina, Ecuador, Chile, El Salvador, all these countries. And Zelaya was the weakest link in that chain. He, himself, did not come out of a big social movement base at the time of his election, certainly since the coup. And I think they were—the U.S. was looking for a way to push back against that. There’s a very important military base, U.S. military base, Soto Cano Air Force Base, in Honduras. And Honduras has always been the most captive nation of the United States in Latin America. So, I think they were testing what they could get away with. And they got away with it. It was the first domino pushing back against democracy in Latin America and reasserting U.S. power, in service to a transnational corporate agenda.”

CONTINUED...

http://www.counterpunch.org/2016/04/15/is-the-clinton-foundation-the-dulles-brothers-sullivan-and-cromwell/


Weird how money is much more important than people for some people.

jwirr

(39,215 posts)
18. Pushing back against democracy. That is the most telling
Sun May 29, 2016, 03:32 PM
May 2016

part of this article. This fight between us and the corporations has been going on since 1950s and it is now or never for all of us.

Octafish

(55,745 posts)
19. Thank Gore for the Internet.
Sun May 29, 2016, 03:39 PM
May 2016

Here's how the nation's press were magically transformed from watchdogs into lapdogs:



The Powell Memo (also known as the Powell Manifesto)

The Powell Memo was first published August 23, 1971

Introduction

In 1971, Lewis Powell, then a corporate lawyer and member of the boards of 11 corporations, wrote a memo to his friend Eugene Sydnor, Jr., the Director of the U.S. Chamber of Commerce. The memorandum was dated August 23, 1971, two months prior to Powell’s nomination by President Nixon to the U.S. Supreme Court.

The Powell Memo did not become available to the public until long after his confirmation to the Court. It was leaked to Jack Anderson, a liberal syndicated columnist, who stirred interest in the document when he cited it as reason to doubt Powell’s legal objectivity. [font color="green"]Anderson cautioned that Powell “might use his position on the Supreme Court to put his ideas into practice…in behalf of business interests.”[/font color]

Though Powell’s memo was not the sole influence, the Chamber and corporate activists took his advice to heart and began building a powerful array of institutions designed to shift public attitudes and beliefs over the course of years and decades. The memo influenced or inspired the creation of the Heritage Foundation, the Manhattan Institute, the Cato Institute, Citizens for a Sound Economy, Accuracy in Academe, and other powerful organizations. Their long-term focus began paying off handsomely in the 1980s, in coordination with the Reagan Administration’s “hands-off business” philosophy.

Most notable about these institutions was their focus on education, shifting values, and movement-building — a focus we share, though often with sharply contrasting goals.* (See our endnote for more on this.)

So did Powell’s political views influence his judicial decisions? The evidence is mixed. [font color="green"]Powell did embrace expansion of corporate privilege and wrote the majority opinion in First National Bank of Boston v. Bellotti, a 1978 decision that effectively invented a First Amendment “right” for corporations to influence ballot questions.[/font color] On social issues, he was a moderate, whose votes often surprised his backers.

CONTINUED...

http://reclaimdemocracy.org/powell_memo_lewis/



This story continues through today, where we have Chief Justice John Roberts shepherding corporate friendly law through the court, let alone appointing nothing but BFEE-friendly pukes to the FISA Court, and the press working mightily to move on to the next shiny object. Unchecked by public awareness, Congress and the Administration do their bit to advance the interests of those holding secret Swiss bank accounts, Wall Street, and War Inc.

Octafish

(55,745 posts)
16. To make sure we don't catch on, the elite give us AUSTERITY.
Sun May 29, 2016, 03:29 PM
May 2016
WHO BENEFITS FROM HARSH GOVERNMENT AUSTERITY?

By Amit Singh -
Consented, Dec. 14, 2015

EXCERPT...

Since 2009 the richest 1000 families in Britain have doubled their net worth whilst the poorest 20% are now 57% worse off. The vast majority are suffering because of austerity economics and the gap between rich and poor has only increased during this period.

Despite successive British governments claiming to be advocates of free-market economic principles they opted to bail out the banks with £500 billion of taxpayers’ money. The legacy of this bailout has been that everyone else has had to tighten their purse strings whilst the government cut key public services – hitting the poorest the hardest.

Fast forward seven years and the most vulnerable in society are still being targeted by austerity. Since 2010, for instance, over 30 domestic violence centres have been closed because of cuts to local councils.

Austerity has meant that now more than one million people in the UK have been forced to use food banks. Cuts are hitting people so hard that they cannot afford to eat whilst the government looks on and continues to chop away at public spending. This is a direct consequence of austerity as in 2008-09 there were only 29 Trussell Trust food banks but by 2014-15 this number had increased to 445 to service that austerity driven demand.

The lack of humanity for this economic ideology was demonstrated when in 2013 Mark Wood starved to death having had his benefits cut after a fitness for work assessment deemed him fit enough to seek employment.

CONTINUED...

http://www.consented.co.uk/read/who-benefits-from-harsh-government-austerity/

jwirr

(39,215 posts)
22. It appears that the world has forgotten the Reign of Terror
Sun May 29, 2016, 03:45 PM
May 2016

in France. England used to be afraid of that happening in their nation but what they are doing to their people now is very dangerous. Especially since the whole world has redefined the meaning of "poor". We now call it the 99%.

I don't think that is going to work for long. If Bernie cannot make any change things will get very hot.

SharonAnn

(13,778 posts)
3. The meme should be "Paying for the value of work".
Sun May 29, 2016, 02:17 PM
May 2016

It is Labor that creates Capital!

As Lincoln said,
"Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration."

Octafish

(55,745 posts)
26. Absolutely!
Sun May 29, 2016, 04:45 PM
May 2016

I believe that's what Diego Rivera tried to get across in his 1934 mural, "Man at the Crossroad," created for Rockefeller Center and later re-created in the Palace of Fine Arts in Mexico City. The Rockefellers were so angered at the finished work, they ordered it destroyed for including portaits of Lenin and other commie martyrs.



The very idea that labor is what creates wealth is Top Secret Eyes Only put-that-in-the-lockbox in Switzerland. Where is it mentioned in school? When is it discussed on television or the news print? And who, other than our fellow DUers, SharonAnn, ever heard of the Powell Memorandum?

enid602

(8,652 posts)
4. redistribution
Sun May 29, 2016, 02:21 PM
May 2016

Classic model for wealth redistribution to the wealthiest: a)decrease substantially the taxes paid by the wealthy, and given purity tests for Republican legislators, make sure they never vote to 'sunset' those 'temporary' tax decreases, b)start an elective war or two, very expensive ones and c)outsource a lot of military functions in the war theater, so the wealthy have a new industry to invest in. GWB's model for wealth redistribution was brilliant.

Octafish

(55,745 posts)
33. Learned at the hand of a master criminal, his father.
Sun May 29, 2016, 09:38 PM
May 2016

Firstly: Every word you said is pure gold, enid602. Thank you for summing it up so succinctly. Here's the history on how We the People got put under the thrall of the Money Trumps Peace Cabal.

Somewhere in Detroit, 1980 GOP Convention:



After the election, the relationship really, ah, evolved:



George Bush Takes Charge

The Uses of "Counter-Terrorism"

By Christopher Simpson
Covert Action Quarterly 58

A paper trail of declassified documents from the Reagan‑Bush era yields valuable information on how counter‑terrorism provided a powerful mechanism for solidifying Bush's power base and launching a broad range of national security initiatives.

During the Reagan years, George Bush used "crisis management" and "counter‑terrorism" as vehicles for running key parts of the clandestine side of the US government.

Bush proved especially adept at plausible denial. Some measure of his skill in avoiding responsibility can be taken from the fact that even after the Iran‑Contra affair blew the Reagan administration apart, Bush went on to become the "foreign policy president," while CIA Director William Casey, by then conveniently dead, took most of the blame for a number of covert foreign policy debacles that Bush had set in motion.

The trail of National Security Decision Directives (NSDDS) left by the Reagan administration begins to tell the story. True, much remains classified, and still more was never committed to paper in the first place. Even so, the main picture is clear: As vice president, George Bush was at the center of secret wars, political murders, and America's convoluted oil politics in the Middle East.

SNIP...

Reagan and the NSC also used NSDDs to settle conflicts among security agencies over bureaucratic turf and lines of command. It is through that prism that we see the first glimmers of Vice President Bush's role in clandestine operations during the 1980s.

CONTINUED...



More details from the good professor:



EXCERPT...

NSDD 159. MANAGEMENT OF U.S. COVERT OPERATIONS, (TOP SECRET/VEIL‑SENSITIVE), JAN. 18,1985

The Reagan administration's commitment to significantly expand covert operations had been clear since before the 1980 election. How such operations were actually to be managed from day to day, however, was considerably less certain. The management problem became particularly knotty owing to legal requirements to notify congressional intelligence oversight committees of covert operations, on the one hand, and the tacitly accepted presidential mandate to deceive those same committees concerning sensitive operations such as the Contra war in Nicaragua, on the other.

The solution attempted in NSDD 159 was to establish a small coordinating committee headed by Vice President George Bush through which all information concerning US covert operations was to be funneled. The order also established a category of top secret information known as Veil, to be used exclusively for managing records pertaining to covert operations.

[font color="green"]The system was designed to keep circulation of written records to an absolute minimum while at the same time ensuring that the vice president retained the ability to coordinate US covert operations with the administration's overt diplomacy and propaganda.

Only eight copies of NSDD 159 were created. The existence of the vice president's committee was itself highly classified.
[/font color] The directive became public as a result of the criminal prosecutions of Oliver North, John Poindexter, and others involved in the Iran‑Contra affair, hence the designation "Exhibit A" running up the left side of the document.

CONTINUED...

CovertAction Quarterly no 58 Fall 1996 pp31-40.



This all matters because there's a steady bloody red line from 1981 to the present day few write about. More would, were the nation's news media honest and lived up to their constitutional mandate.

PufPuf23

(8,838 posts)
5. A wealth distribution where middle, working, poor, young, and elder demographics
Sun May 29, 2016, 02:26 PM
May 2016

had income for basic needs and some discretionary spending would have resulted in even greater wealth generation.

There would be more consumer demand and a multiplier effect from the spending.

Natural resources would be better allocated.

Common folks would live better and wealthy folks would build less monuments to their vanity, have less homes, and a smaller paper fortune.

I support a guaranteed minimum income plus health care, childcare, and education as civil rights.

The idea of "full employment" is antiquated because of technology and other efficiencies.

Technology and other efficiencies have served to concentrate wealth upwards rather than create security and leisure time for the common people.

Service jobs do not pay well enough to provide the basic needs and common wants available and potentially available to all.

FDR had it correct with his 2nd Bill of Rights.

As long as neo-liberal politics and economics prevail, we will not move towards but rather away from these goals.

jwirr

(39,215 posts)
23. And those capitalists have missed the biggest point: Some
Sun May 29, 2016, 03:52 PM
May 2016

one has to doing well enough to buy their stuff.

PufPuf23

(8,838 posts)
28. Yes. Their argument is that everyone benefits from free trade but in practice that is not the case.
Sun May 29, 2016, 05:23 PM
May 2016

The free trade model does not work in practice but the fair trade model has better and more realistic results for societies.

I did mention but it bears repeating:

"had income for basic needs and some discretionary spending would have resulted in even greater wealth generation.

There would be more consumer demand and a multiplier effect from the spending"

Hope your day is fine.

 

JEB

(4,748 posts)
6. They want all the money and
Sun May 29, 2016, 02:28 PM
May 2016

they don't give a wooden nickel for all your blood, sweat and tears. Of course I'm left telling the lot to FOAD.

Octafish

(55,745 posts)
44. UBS 'n' Tex-us 'n' Just-Us
Tue May 31, 2016, 02:27 PM
May 2016

After his exit from the US Senate, Phil Gramm found a job at Swiss bank UBS as vice chairman. He later brought in former President Bill Clinton to the Wealth Management team. What a coincidence, they are the two key figures in repealing Glass-Steagal. Since the New Deal it was the financial regulation that protected the US taxpayer from the Wall Street casino. Oh well, what are a few hundred million in speaking fees compared to a $16 trillion bailout among friends?



It's a Buy-Partisan Who's Who:

President William J. Clinton
President George W. Bush Heh heh heh.
Robert J. McCann
James Carville
John V. Miller
Paula D. Polito
Anthony Roth
Mike Ryan
John Savercool

SOURCE: http://financialservicesinc.ubs.com/revitalizingamerica/SenatorPhilGramm.html

Some of why DUers and ALL voters should care about Phil Gramm.

How many hours of week of NFL football vs how often the ties between the world's wealthiest people and our politicians should be of great concern to all who care about Democracy.

 

rhett o rick

(55,981 posts)
7. Not only did they pocket most of the wealth made in the last few decades they've
Sun May 29, 2016, 02:31 PM
May 2016

managed to steal wealth from the middle and working classes. We need a revolution. We trail all other modern nations in all categories including democracy. Clinton wants to use the excuse of taking democracy to the rest of the world as an excuse for neo-imperialism. Sadly she doesn't have that excuse because we live in a corporate controlled oligarchy which is a short stem away from fascism. Why would Democrats support that movement? Answer, Democrats don't, it's the corporatist DINO's that control our Party.

 

rhett o rick

(55,981 posts)
13. It has to be non-violent. The Oligarchy would love an excuse to remove more of our rights and
Sun May 29, 2016, 03:27 PM
May 2016

freedoms.

 

Lizzie Poppet

(10,164 posts)
15. Well...that's the overwhelming preference, anyway.
Sun May 29, 2016, 03:28 PM
May 2016

Violent revolutions do succeed...but dear gods, the cost.

 

rhett o rick

(55,981 posts)
20. Violent revolutions might succeed in changing the leadership but usually the results
Sun May 29, 2016, 03:42 PM
May 2016

are no better than before. To win a violent revolution one must rely on violent people and then you can't get rid of them.

 

rhett o rick

(55,981 posts)
50. I am guessing that is about as deep as you go. I picture you with fingers in your ears,
Tue May 31, 2016, 03:21 PM
May 2016

eyes closed, shouting, "there is no oligarchy" over and over. I suppose you believe we live in a democracy because YOU can vote. And that's all it takes. And I bet you didn't read the recent Princeton Study that concluded we live in an oligarchy and not a democracy. You probably won't believe it until Wolf Blitzer tells you. Sadly I think you are ok with letting the wealthy make your decisions. Many of us are not and will fight the Big Money that controls our government.

Real Democrats don't revere the oligarchy they have empathy for those suffering among us.

Octafish

(55,745 posts)
46. Buy Partisan Trickle Down Economics is now the gold standard.
Tue May 31, 2016, 02:41 PM
May 2016


A little history for those wondering why the Banksters almost walked away blaming "the poor for buying big houses they couldn't afford" at the top of their lungs without anyone noticing those with red hands.



Bernie Sanders Calls Federal Reserve "Socialism for the Rich" After $16 Trillion Secret Bail-Outs, Including Foreign Banks.

By Ralph Lopez, War Is a Crime | News Analysis
Truth-Out, Monday, 30 July 2012 14:27

After 89 Democrats in the House voted in a victory for bipartisanship for HR 459 to audit the Federal Reserve, some jaw-dropping numbers are emerging as a result of a partial audit conducted this year. It is no surprise that the news is dropping with a dull thud in the media. That's why you should get your news from the Internet and sites like this.

Senator Bernie Sanders at his official website reports:

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."


Despite the wording of the Sanders press release the audit was not "top-to-bottom," with many areas excluded. HR 459 would remedy this.

The consortium of private banks collectively known as the Federal Reserve found itself in the crosshairs of Occupy Wall Street last fall. Created in 1913, the Fed holds a monopoly on the creation of the currency, which it lends to the US Treasury at interest, or to other banks.

Blogger Pierre Joris of the Department of English at SUNY Albany gleaned from the report:

"The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious — the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs."

CONTINUED w/links, sources...

http://www.truth-out.org/news/item/10609-bernie-sanders-calls-federal-reserve-socialism-for-the-rich-after-16-trillion-secret-bail-outs-including-foreign-banks



One of those foreign financial institutions the US taxpayer bailed out, by the way, is Swiss bank UBS.

PS: If the Congress and Bush and Obama administrations had followed Bernie Sanders' lead, the Banksters would be in jail, not spending bonus money on yachts, cars and dope.
 

rhett o rick

(55,981 posts)
47. "PS: If the Congress and Bush and Obama administrations had followed Bernie Sanders' lead, the
Tue May 31, 2016, 02:55 PM
May 2016

Banksters would be in jail, not spending bonus money on yachts, cars and dope." And that's why they are fighting him so hard. Sadly they are being helped by the Oligarchy minions.

Octafish

(55,745 posts)
27. Jerry Jones, owner of the Dallas Cowboys, a man who made it big in the oil biddniss.
Sun May 29, 2016, 04:55 PM
May 2016


A fun loving guy, posing with some fans in the men's room, FWIU.

CrispyQ

(36,517 posts)
9. They want it all. Every last dime.
Sun May 29, 2016, 02:54 PM
May 2016

They don't give one fucking whit about the 99%.

Won't matter. Climate change is happening faster than all the models predict. The rich may be able to withstand longer than the rest of us, but I believe we are facing huge changes in our natural world. The cushy life styles of the rich & famous won't be what they are today. Their greed has blinded them to the fact that we live in a finite system & have devoured our ecosystem for the profit of a few. "Capitalism: A Love Story" I just watched it recently. Highly recommended.

 

Lizzie Poppet

(10,164 posts)
14. Yep. Carlin absolutely nailed it.
Sun May 29, 2016, 03:27 PM
May 2016

But they are few and we are many...and it's long past time we acted like it.

Octafish

(55,745 posts)
37. That's where Larry Summers, who whitewashed the Bankster Bailout, comes in.
Mon May 30, 2016, 11:18 AM
May 2016

William K. Black explains why, even with Democrats, it's ALWAYS "Leave no billionaire behind":



No Mr. President, Larry Summers Did Not Resolve the Financial Crisis for a Pittance. He Just Papered Over the Problem.

by William K. Black
Oct. 28, 2010

I passed up the obvious title: "Heckuva Job Larry!" That was the moment of President Obama's appearance on The Daily Show with Jon Stewart that set all Americans cringing. Yes, he really said that Summers "did a heckuva job." The candidate that was gifted the opportunity to run against the legacy of one of the worst presidents in U.S. history has, as president, used Bush as his role model to continue many disastrous policies. It was strangely fitting that he would channel Bush's infamous praise ("Heckuva job Brownie&quot for the FEMA chief who failed New Orleans so badly in the hurricane.

President Obama understandably wishes to focus attention on the economic disaster he inherited from President Bush. But Jon Stewart's question to him, which led to the president's gaffe, correctly asked about the message that Summers' appointment sent about the administration's commitment to fundamental change.

Summers had financial red ink on his hands at the time he was appointed. He was Rubin's chief minion in the successful effort to defeat effective financial regulation and supervision. (Yes, the effort was bipartisan and the Republican leadership shares in the guilt.) [font color="green"]Summers was not simply wrong, but also arrogant and brutal, in blocking effective regulation at the SEC and the Commodity Futures Trading Commission. Summers was made rich by Wall Street in one of those sordid consulting arrangements designed to buy influence and reward past and future favors.[/font color]

President Obama's appointment of Summers as his chief economic advisor made the administration's overall response to the crisis predictable. (Robert Kuttner gives a detailed explanation of the policies that Rubin's protégés championed in his new book, A Presidency in Peril.) The response would follow the disastrous Japanese model that has harmed their economy and damaged their integrity. The dominant characteristics can be summarized quickly: [font color="green"](1) the government would act for the benefit of the largest financial firms and their CEOs, even when they directed massive frauds, by (2) engineering a cover up of the banks' losses and the CEO's misconduct; (3) the administration would use the fictional reports generated to conduct the cover up to declare victory (due to their brilliance); and (4) the same strategy would impair the recovery.[/font color] (For more on the cover up, see here and here.)

CONTINUED w/links...

http://www.huffingtonpost.com/william-k-black/no-mr-president-larry-sum_b_775307.html


William K. Black is a forensic economist who, as a government investigator, helped send many white collar criminals to prison during the S&L crisis for FRAUD. Iceland called him to help ice their banksters, yet, for some reason, the last two U.S. administrations have ignored his expertise and services.

Octafish

(55,745 posts)
38. Wealth of richest 400 Americans surges to $2.29 trillion! That's a WOW!
Mon May 30, 2016, 11:25 AM
May 2016

Going along with the Wall Street-on-the-Potomac same old, same old isn't getting it done for me, either. These are the wealthiest times in human history. We should live in a country that reflects that.

Instead, the Jet Set sets records for good times and greed.





Wealth of richest 400 Americans surges to $2.29 trillion

By Andre Damon
World Socialist Web Site, 6 October 2014

The wealthiest 400 people in the United States had their combined net worth grow thirteen percent to $2.29 trillion this year, amidst a surging stock market and record corporate profits. The figures come from the Forbes 400 list of the wealthiest Americans, compiled every year since 1982 by the American business magazine of the same name.

As Forbes noted last week, the net worth of these 400 individuals is “about the same as the gross domestic product of Brazil, a country of 200 million people.” The average net worth of the Forbes 400 hit $5.7 billion, up by $700 million over the past year.

The new figures of wealth in America were generally buried in the media. Neither the New York Times nor the Wall Street Journal published an article. Nor has it been a topic in political campaigns, one month before the midterm elections. Neither big-business party has an interest in calling attention to the extraordinary levels of social inequality in the US, with endless claims that there is no money for basic social services.

Last week marked the sixth anniversary of the signing of the Emergency Economic Stabilization Act of 2008, which established the $700 billion Troubled Asset Relief Program, better known as the bank bailout. Since then, the wealth of the richest sections of society has soared while the annual income of the typical household has fallen by five percent.

SNIP...

[font color="green"]* Bill Gates, co-founder of Microsoft and the richest man in the US for 21 years in a row, had his wealth increase $9 billion in one year, to $81 billion. Gates’ wealth has increased by a staggering $31 billion in the past five years. To put this figure in perspective, since 2009 Gates’ wealth has increased by nearly 30 times the annual budget of the city of Detroit, currently in bankruptcy.[/font color]


CONTINUED...

http://www.wsws.org/en/articles/2014/10/06/forb-o06.html



So, while on paper these are the greatest boom times in history, most of the boom in terms of hard cash has landed in the pockets of Haves and the Have-Mores.

Personally, I believe Ms. Clinton is superior to any Republican. She may even be the smartest person in Washington. The thing is: I favor open-government, transparency in office and policy, non-spying on citizens and allies, civil rights respecting, peace and prosperity for all, better days are ahead, we can all get it done if we all work together team, a Democratic team that runs on Democratic principles a nation of laws, not an Empire to enrich the few.

whatthehey

(3,660 posts)
54. As, not coincidentally, has the stock market
Tue May 31, 2016, 04:19 PM
May 2016

I'm not in the richest 40,000,000 let alone 400 Americans, but my wealth went up by more than 90% since 2009 too. So did just about anybody's with most of their wealth in a retirement account who didn't panic and sell at the bottom. Why? The SP500 index was 910 this time in 2009, and is about 2097 now. Doesn't exactly take financial genius and corruption to be 90% richer when the safest cheapest index fund went up 130% not including dividends. This actually shows the superrich can't outgain the market as a whole either.

felix_numinous

(5,198 posts)
17. When you can print your own money, assign your own value and merit to it,
Sun May 29, 2016, 03:29 PM
May 2016

you can write your own laws, buy the enforcement to these laws, buy social media representation and manufacture consent, pay to overthrow democratically elected leaders and not have to look behind you at all the death and destruction in your wake.

At first the world they have created is virtual and depends upon compliance and agreement that this money is worth more than lives--but it becomes real as soon as people obey this standard and ACT from this premise.

This power model depends upon people to participate and believe in it's value--and CLIMATE CHANGE is the one thing capable of changing this belief system. This is the crux of the progressive movement, we do not want to invest in any further destruction--or allow these people to DEFINE WEALTH. True wealth is the health and wellbeing of all life.


Only after the last tree has been cut down, Only after the last river has been poisoned, Only after the last fish has been caught, Only then will you find that money cannot be eaten. --Cree Native Prophesy

Thank You again Ocafish

Octafish

(55,745 posts)
39. You are most welcome, felix_numinous. The Cree prophecy is haunting.
Tue May 31, 2016, 10:37 AM
May 2016

Today, the rich and powerful hide what they do behind code words.



Case in point: One Neil Mallon Pierce Bush, son of then-president George Herbert Walker Bush and caught with his hand in a billion-dollar S&L cookie jar called Silverado Savings & Loan. Here's what Poppy did for his Number 3 Son:



How the Elite Talk in Code

EXCERPT...

A perfect example of code talk comes from a true master insider, George H.W. Bush, when his son, Neil, was caught red handed in the middle of the S&L crisis as a director of Sliverado Bank.

Did Bush lay out his cards and call in his operatives and say pull some strings, get my son out of this investigation (Remember Bush was president at the time.) No. Bush is too smooth. In his published collection of letters, All The Best, George Bush, he shows us how the heat is delicately taken off Neil. On page 449, there is this letter to Thomas Ludlow Ashley.

Ashley is a Yale University grad, and member of the secret society Skull and Bones along with Bush. Here's the letter:

The Honorable Thomas Ludlow Ashley
Association of Bank Holding Companies
Washington, D.C. 20005

Dear Lud,

Thank you for your good memo December 8th.

I would appreciate any help you can give Neil. He tells me he never had any insider dealings. He got off the Board early--long before I was elected President. The Denver paper apparently ran a very nice editorial about him on that. He is an outside director, and thus I guess has liability, but I can't believe his name would appear in the paper if it was Jones not Bush. In any event, I know that the guy is totally honest. I saw him in Denver and I think he is worried about the publicity and the "shame". I tell him not to worry about that but any advice you can give as this matter unfolds would be greatly appreciated by me. If it turns out there has been some marginal call, or he has done something wrong, needless to say there will be no intervention from his dad. But, I'm quite confident this is not true...

Warm regards,

George


Notice how smooth. No talk about getting Ashley anything for taking care of the matter. The nice touch about if Neil "has done something wrong", but the clear finish, he didn't.

CONTINUED...

http://www.economicpolicyjournal.com/2009/07/how-elite-talk-in-code.html



Chief Seattle understood what really matters:

Your dead cease to love you and the land of their nativity as soon as they pass the portals of the tomb and wander away beyond the stars. They are soon forgotten and never return. Our dead never forget this beautiful world that gave them being. They still love its verdant valleys, its murmuring rivers, its magnificent mountains, sequestered vales and verdant lined lakes and bays, and ever yearn in tender fond affection over the lonely hearted living, and often return from the happy hunting ground to visit, guide, console, and comfort them.

SOURCE: http://www.halcyon.com/arborhts/chiefsea.html


Thank you for reminding us, felix_numinous.
 

vintx

(1,748 posts)
21. Aw, look at 'em all happy and smiling. Happier times.
Sun May 29, 2016, 03:42 PM
May 2016

Back when they could be assured not many would dig too deep about what was going on.

Now you have little upstart college educated kids talking back to the former President! Refusing to defer to him solely because President, and actually debating him! With facts! About actual issues!

Oh the horror!

How badly it has all spun out of control... the wealthy must be shaking in their overpriced boots.

 

Urchin

(248 posts)
25. Anyone listening?
Sun May 29, 2016, 04:43 PM
May 2016

The question is, is anyone listening?

It's already been explained.

And it's not complicated.

So here it is again:

Vinca

(50,304 posts)
29. People aren't paid a living wage because the rich must have the lion's share.
Sun May 29, 2016, 05:25 PM
May 2016

How much money is enough money? Wouldn't a single billion take care of anyone quite nicely for a lifetime?

Octafish

(55,745 posts)
32. How about my mortgage? That'd help a lot.
Sun May 29, 2016, 09:19 PM
May 2016

US taxpayer paid Bailout, though, went to the people who stole it to begin with -- the Banksters.



Neil Barofsky on the “Broken Promises” of the Bank Bailouts

August 1, 2012, 10:46 am ET by Jason M. Breslow PBS

By any objective standards, the Trouble Asset Relief Program [TARP] has worked,” the Treasury Department wrote in a July progress report (PDF) on the $700 billion program that Congress authorized in 2008. “It helped stop widespread financial panic, it helped prevent what could have been a devastating collapse of our financial system, and it did so at a cost that is far less than what most people expected at the time the law was passed.”

Neil Barofsky sees it much differently. From December 2008 to March 2011, Barofsky, a formal federal prosecutor and lifelong Democrat, served as special inspector general of TARP, charged with protecting against abuse and fraud in the program. In his new book about that experience, Bailout, he writes that the American people “should be enraged by the broken promises to Main Street and the unending protection of Wall Street.”

FRONTLINE spoke with Barofsky, now a senior fellow at New York University School of Law, about his time policing TARP. This is an edited transcript of that conversation:

You are highly critical of the management of TARP. What went wrong?

It’s important to remember that there were a number of different objectives for TARP. It did meet one of its primary objectives, which was to help prevent the entire collapse of our financial system. … The other goals, which have more of a focus on helping Main Street institutions and individuals and businesses definitely small enough to fail — those goals all came short.

So, for example, TARP was supposed to be used by the banks to restore lending, help pump that oxygen into the lifeblood of the economy, and it just didn’t happen. One of the reasons why it didn’t happen is the money went to the banks with no strings attached, no conditions, no incentives, just essentially piles of money given to them without any instructions whatsoever and sort of this hope that somehow or other they use the money to achieve the policy goals of the administration. Of course, that never happened and you just look at the malaise the economy has been in in the years ever since.

Similarly, TARP was supposed to help homeowners, and that was part of the very bargain that was struck in order to get TARP passed. … We had a housing program that was an utter failure by any definition if you look at what its original goal was — up to 4 million homeowners helped, and today it’s around 800,000, 20 percent of that goal. Or if you look at how much money has been spent, just a small tiny fraction, maybe 6 percent of the original $50 billion, on par with what credit card companies got.

So you’re sort of left here, almost four years after the bailout, with this tremendous amount of effort and money going to save the banks but all the other goals, really important Main Street goals to help everyone else, just abandoned.

What do you say, though, to those who argue that while the bailouts may not be popular, they did stabilize the banks, as well as the auto sector, for far less money than first feared?

It’s undoubtedly good news that the losses are less than we originally intended. … But again, even the saving, or stabilizing the financial system — to what end? What we’ve done is essentially preserve a fundamentally broken status quo that led to the financial crisis in 2008, and we took a lot of problems in the system and in some ways made them worse.

CONTINUED...

http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/money-power-wall-street/neil-barofsky-on-the-broken-promises-of-the-bank-bailouts/



This makes certain people with means furious to see discussed.



Neil Barofsky Gave Us The Best Explanation For Washington's Dysfunction We've Ever Heard

Linette Lopez
Business Insider, Aug. 1, 2012, 2:57 PM

Neil Barofsky was the Inspector General for TARP, and just wrote a book about his time in D.C. called Bailout: An Insider Account of How Washington Abandoned Main Street While Rescuing Wall Street.

SNIP...

Bottom line: Barofsky said the incentive structure in our nation's capitol is all wrong. There's a revolving door between bureaucrats in Washington and Wall Street banks, and politicians just want to keep their jobs.

For regulators it's something like this:

"You can play ball and good things can happen to you get a big pot of gold at the end of the Wall Street rainbow or you can do your job be aggressive and face personal ruin...We really need to rethink how we govern and how regulate," Barofsky said.


CONTINUED... http://www.businessinsider.com/neil-barofsky-2012-8



Thank you for caring about where the monies and Justice went, Vinca.

Octafish

(55,745 posts)
36. Hypnosis for a better Hypocrisy
Mon May 30, 2016, 10:22 AM
May 2016

The New Deal created the Middle Class. Thus, the GOP and its friends in blue hate Keynesian economics.

JFK and LBJ knew the New Deal worked. That's why thry wanted the civilian space program to succeed: in addition to advancing technology, it created a new economy with great jobs and an unlimited future.

Nixon and the Big Money GOP hated the civilian space program.

How often, since Reagan, have we heard -- even DEMOCRATS -- said "government doesn't create jobs." It sure as shooting does. And, as FDR made sure the contracts were with union representation, government employment boosts "competition" for labor, thus acting to raise wages for workers across the entire economy.

Today, in the wealthiest times in human history, we get austerity and zero-vision expressed from those who can see a better way forward.



Chile 1973 was a blueprint for their vision of the United States of America.

Octafish

(55,745 posts)
42. Switzerland?
Tue May 31, 2016, 11:17 AM
May 2016

It's where the Jet Set go to get their blood replaced, stem cells injected, and money stashed.

Now that head transplants are around the corner....



Beep! Beep! Beep! Beep!

 

pdsimdars

(6,007 posts)
43. And apparently all those Hillary supporters want the rich to get richer at THEIR expense.
Tue May 31, 2016, 01:15 PM
May 2016

I mean, that's what they are fighting for, for the Bushes and Clintons to get wealthier off of the backs of working Americans.

They must REALLY love Hillary since they want to give her more money at the expense of their own families. That's real devotion.

 

rhett o rick

(55,981 posts)
49. I think you give them too much credit. They are not fighting for anything and that's the problem.
Tue May 31, 2016, 03:14 PM
May 2016

In this country we've raised generations of authoritarian followers. These authoritarian followers have no commitment other than to serve their chosen authoritarian leader. They want a mommy.

If you tell them their authoritarian leader is responsible for thousands of deaths, they only respond by calling you names.

Octafish

(55,745 posts)
52. Wikileaks vs. the Empire: the Revolutionary Act of Telling the Truth (John Pilger)
Tue May 31, 2016, 04:11 PM
May 2016
[font size="1"]Crazy Horses Riding Through the Lower East Side to a WikiLeaks Soundtrack, 2013 graffiti or mural by Banksy[/font size]



Wikileaks vs. the Empire: the Revolutionary Act of Telling the Truth

by JOHN PILGER
CounterPunch, Oct. 2, 2015

EXCERPT...

These are dark times, in which the propaganda of deceit touches all our lives. It is as if political reality has been privatised and illusion legitimised. The information age is a media age. We have politics by media; censorship by media; war by media; retribution by media; diversion by media – a surreal assembly line of clichés and false assumptions.

SNIP...

Edward Bernays, who invented the term, “public relations” as a euphemism for “propaganda”, predicted this more than 80 years ago. He called it, “the invisible government”.

He wrote, “Those who manipulate this unseen element of (modern democracy) constitute an invisible government which is the true ruling power of our country …We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of …”

The aim of this invisible government is the conquest of us: of our political consciousness, our sense of the world, our ability to think independently, to separate truth from lies.

This is a form of fascism, a word we are rightly cautious about using, preferring to leave it in the flickering past. But an insidious modern fascism is now an accelerating danger. As in the 1930s, big lies are delivered with the regularity of a metronome. Muslims are bad. Saudi bigots are good. ISIS bigots are bad. Russia is always bad. China is getting wikileaksfilesbad. Bombing Syria is good. Corrupt banks are good. Corrupt debt is good. Poverty is good. War is normal.

CONTINUED...

http://www.counterpunch.org/2015/10/02/wikileaks-vs-the-empire-the-revolutionary-act-of-telling-the-truth/


PS: You are most welcome, rhett o rick! The fact some people want to stop discussion on DU of matters of peace, politics and prosperity is most concerning. Censorship isn't Democratic. It is fascistic.

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