America at a Crossroads: Fight Class Warfare from the Top!
66Class Warfare from the Top
America Will You Let the Class Warfare From the Top Class Continue?
We have a choice in America. We can do one of two things:
1. We can massively cut spending, hurt mainstreet, slow economic growth, and let the banks create new ponzi schemes.
Or:
2. We can keep spending somewhat level, with a stopping of government growth, with targeted cuts, including military cuts, with controls on medicare costs, tax the top 1 percent, encourage savings in the private sector, and rein in the banksters, at least regarding housing and hedge fund activity.
The problem is, if too much government is cut, then there will have to be a lot of economic growth to make up for the lack of demand created in our society. The only way that this lack of demand can be supported is through another ponzi bubble, most likely in housing, although it could be in stock prices being artificially pushed up. UK consumer confidence is falling because of austerity.
To digress a bit, we need to realize that the Republicans and Democrats wanted the original housing bubble that went wild between late 2003 and 2007. But with the Volcker Rule getting some support, it was thought that the bankers would be reined in. This was a slow growth plan, and would entail government spending to help the classes hurt by banker ponzi activity. But with the 2010 election, the bankers gained the upper hand and the Volcker Rule is doomed as of the writing of this article.
The leader of this attack on the Volcker Rule was Republican Congressman Bachus of Alabama. This attack was all about giving banks the power to sponsor hedge funds. With this power, banks can invest in reckless lending, and create easy money scenarios once again. The shadow banking system can be reborn, and predatory loans can be made that are hard to pay back. Others, like Sensenbrenner, Republican of Wisconsin, and Michelle Bachman, of Minnesota, also oppose Dodd Frank, and ultimately the Volcker Rule, and HR 1081 is just one proof of that.
The Bankers-as-used-car-salesmen can once again replace the ethical bankers. So, America is at a crossroads. Do we want to feed the beast of Wall Street while cutting the crap out of mainstreet benefits again and again? Is this the nation we want? Don't be fooled, banks do not want to make money the old fashioned way, but rather they want benefits and taxes cut so that we can have money to bail them out again and again! If this is the America you want, you can have her.
Don't be fooled, the Republicans want guarantees of mortgage loans because, as I have argued, the big banks want these guarantees. And they want these guarantees whether there exists Fannie and Freddie, or whether they are privatized and go away. Bernanke has already advocated this, and we know that the New World Order of Finance is in charge. Don't be fooled by Michelle Malkin or these other Republican idiots. But whatever party succumbs to this flood of favors from the too big to fail banks, understand that once these banks tasted the riches that came from easy money, they are like crack addicts and want that high once again. And it will be at our expense!
I am no fan of the Democrats for what they did. But the Republicans want another bubble and they want to hurt the weakest in society, even by taking the meals of seniors away. It is disgusting to hear their spin on why they are not hurting these most defenseless Americans when they seek their demise. They accuse others of class warfare when they want no regulation of banks and want class warfare from the top down to continue.
Remember, I pointed out in earlier writings that only about 1/3 or less of the subprime loans were made because of too much regulation through the CRA. No, most of the subprime loans were made by unregulated shadow banks supported by the major banks. Those loans were not guaranteed until the bailouts, but now these bankers want all 30 year mortgages guaranteed. I don't see Fox News speaking out against this. And the CRA made zero prime toxic, jumbo and option arm loans!
Michelle Malkin and Sean Hannity are void of conscience. They are part of the effort to let the banks do what they want. Either they are incredibly stupid, or they are part of the scam. I believe the latter, although I could be wrong. If you lose sight of this fact, that these Fox Minions work toward more banker advantage, whether they realize it or not, you fail to understand the new financial order facing us. Government used to be in charge of banksters, at least when they failed, as we saw in the Savings and Loan debacle. That power is gone. Wake up people!
So, Tea Party types, do you really care about the fact that massive government cuts could end up lowering tax revenue in the nation without Republican ponzi schemes? Have you considered that this is what is happening in Ireland? And Ireland is a little country that can attract business with low tax promises. The US does not have that capacity. Unless new industries are found or foreign nations grow, we will not be able to grow our way out of massive cuts.
We must not be afraid to peacefully protest, shun the financial products of the big banks, and save and even walk away from debt if we can. This is a protest against the New Financial Order, and is not financial or legal advice. I am not a lawyer nor am I an investment counselor, but I am mad as hell against this ruling class who is making war against us.
My Ebook: Ponzi Housing Scheme 21st Century Hits Hard Against the Wall Street Bankers.
- Welcome to Strategicdefaultbooks.com
Welcome to Strategicdefaultbooks.com home of author Gary Anderson. I will be offering books in ebook form here. I am an author at Goodreads, and have provided samples here of my writing in various web addresses with links provided.
Paul Ryan Wants to Destroy Seniors
Paul Ryan has determined to terminate medicare, giving seniors vouchers, and taking the savings and giving them to the rich in the form of tax cuts. I kid you not. This Ryan guy is a menace. The problem is that Ryan wants to base the vouchers on CPI, not on the percentage growth in health care costs. How are seniors going to pay for that? I realize that big cuts may be necessary although cuts too big could make us like Ireland. The Democrats have a plan to control costs of medicare, but the Republicans opposed it. Remember, the Democrats couldn't pass anything last session because there were less than 60 Democrats in the senate and you need 60 votes to pass anything. So then, if you are over 50 you have a compelling reason why not to vote for Republicans ever again.
And seniors, be advised that historically, class warfare was an effort to gain cheap labor for the industrial revolution along with long hours in the factories. Class warfare began with an attack from the top down!
- Free Banking Information.
Free banking has been promoted by Ron Paul and others as a means of curbing the excesses of central banking. Now some have said that central banking is socialism. But that is a misnomer. Central banking is a corporatism, which exerts control over the - The Bernanke Backstop Is the Next Ponzi Mortgage Scam
So, as a background, we can understand that the Federal Reserve banks are owned by the banks of each region. Because most of the most powerful banks are located in New York, the New York Fed is the most powerful private Fed bank of the 12. Ben Bernan - BBC News - Halfords and Carpetright cut profits estimates
UK retailers Halfords and Carpetright both cut their profit predictions as consumer spending remains tight.
CommentsLoading...
Yes Nan, no one listens because the top 1 percent are no longer accountable.
Good read. Let me point out something though. Currently the top 10% pay 70% of the income taxes collected in this nation. Not exactly a free ride now, is it?
The Frog
The most BEST article EVER on Hubpages - sharing this page. BTW typo error "knew industries" should be 'new' not 'knew'.
I live in Arizona where there are very low taxes for businesses - a new law against the payday loan stores and planning to charge the poorest on state medicaid for smoking, obesity - and diabetes - WTF? the first two are 'sins' but diabetes is a disability!
Thank you for the very good answer to Question. You are the bet writer ever on HubPages and I hope that you make money .. in your other venues!
Frog, taxes should be determined by property owned. The top 1 percent control 42 percent of the wealth yet pay only 38 percent of the tax. The top 10 percent control 80 percent of the wealth and only pay 70 percent of the taxes.
And clawbacks for ill gotten gains would be in the trillions.
Thanks Ptosis for the encouragement. The governor of Arizona is a madwoman who didn't fund transplants and people have died because of it.
Oh, and Frog, here is the link to the property control: http://www.mybudget360.com/top-1-percent-control-4
Ptosis, I forgot to add that the Governor of Arizona is a one woman death panel.
bg:
With Frog, you're dealing with someone who's swallowed a bit too much of that corporate 'Tea'.
Lol, Tea, but it is an honest mistake. One that needs to be eradicated, however.
Yes, all that "Income tax top earner" nonsense, looks at regular and earned income, not the other stuff. Like, my taxable income got skinned up pretty bad, the money getting taxed on its way to me, and taxed on its way out too, making purchases. I wonder, what percent of the top 1%er income goes to paying sales tax...and how much of ALL taxes, not just income taxes, are paid by the 1%ers? I am pretty sure, the top 1% pay less than 1% of all vehicle licensing taxes, for example.
I think we should have statistics on the percentage of income goes to taxes for each and every percentile. That would wake a lot of people up.
I always enjoy reading your hubs because you talk about facts which are not found in newspapers or otherwise.
Class warfare is an ugly monster, and it appears it is just over the horizon. It will not do a rich person any good to have a million guns when he only has two trigger fingers.
Tom:
We already have it, it's just that the workers are on the losing end and outgunned.
When you can convince people to vote against their economic interests or divide them, it's an easy win for the elite.
The revolution you speak of is something that I hate to admit is possible.
Bgamall,
Great Hub, this is not a system of capital but a system of credit designed to flow actual wealth to the top while the rest of us toil to bring in the kings crops.
I thoroughly believe the first step has to be a massive default, we should stop attempting to pay back credit, and insist on an honest monetary system. Without an honest system in place there can never be any such thing as an honest buck.
There is no such thing as a free press, the press is constantly framing the argument so that no matter which side wins the bottom 99 always lose, it is so rigged.
TMG
Thanks for commenting folks. I actually think there are peaceful ways to do battle with these people attacking us with their predatory loans. So, revolution is not likely to be effective since the powers that control government would eventually control other replacements. No, the best way is to just change the way we think about these banksters and refuse to trust them. We can protest, default on debt and just boycott their products. We can move our money to credit unions, etc.
I don't foresee a unified revolution. I do, however, foresee individuals getting fed up and choosing to go down in a blaze of glory rather than starving to death slowly.
Consumers and voters could make the difference, but they won't. It's not in their natures to be principled. Greed will meet vengeance. It's happened too many times in the past, and it will happen again.
It's unfortunate that we do not learn from history, and even more unfortunate that it will repeat itself.
I think that inflation/deflation is a key issue now. Inflation comes from speculation. Deflation makes speculators fear.
I do hope sincerely, that people vote. I agree with most of what you've said here. For the commenter who stated that the top 10% pay 70% of the income tax, I believe he is right. But the top 10% also earn 70% of the income so that really is no point at all.
The top 1 percent control 42 percent of the wealth in the USA, more than the bottom 50 percent. We cannot continue that way, and some like Rick Perry want to tax the bottom 50 percent even though speculation drives up their costs for gas, food, and housing artificially. Anyway here are the numbers:
http://www.mybudget360.com/top-1-percent-control-4
The bottom 80 percent only have 7 percent of the wealth. That cannot last or there could be big trouble. I hope not but there could be.
bgamall,
I have put a lot of thought into this, and even shifting to a credit union can't shift the balance of power, as long as there is more debt created than money at the time of transaction.
No matter what facility you use, things of actual value and wealth will flow into the hands of whatever usurious institution that is used, and as long as there is a monopoly on the creation of money this can never change.
The very principle I am speaking of is why the rate of business failure has been essentially constant over the last 100 years, as well as the rate of foreclosure, if you normalize the last three years to the 100 year running average, the rate of everything is relatively consistent with a 6 percent interest charge on every dollar created. (I used a program called R to analyze this)
That obviously will change in the next hundred years as the banks had the rate changed to 8 percent in the TARP bill, so you will see a permanent increase in the rate of business failure and foreclosure from now on, it is mathematically impossible to alter that fact as legislation currently stands.
Even if you went to the Gold standard as some suggest or you get rid of fractional reserve banking none of this changes the hard baseline of the interest the Federal Reserve charges for the creation of money; there will always be a deficit that will move collateral (Wealth) from the poor to the rich. (Or the Creators to the Borrowers of money, however you look at it)
That is why some politicians are allowed to speak of things such as this in public, like Ron Paul or David Kucinich. As there solutions pose no real threat to the status quo.
Abraham Lincoln, John F. Kennedy, and Ronald Reagan, all of which proposed things that would radically alter the status quo, all of those politicians were radically altered.
Only one lived to change his ways.
(Or you believe Deranged people only target those that are politically threatening the money elite; again statistics makes that a hard yet convenient pill to swallow)
As always it is pleasure to hear your thoughts, it gets my juices flowing.
TMG
Interesting as always, Moneyguy. I certainly think that Ron Paul is not interested in stopping the casino. He wants less regulation and the easy money that Dodd-Frank will stop has the hedge funds in a tizzy.
Yes, it is hard to fight the central bankers. They are the monopoly. But then, people can do some things to scare them, like live in multi generational families and cut costs. That makes debt less attractive to the people. Then if taxes are raised as they must be, some will survive.
I am hoping that before the bottom 50 percent pay taxes, that the speculation on food and gasoline will be controlled as it was after WW2. http://www.businessinsider.com/megan-mcardle-and-t
Nan Mynatt Level 3 Commenter 13 months ago
We are at the crossroads of history again, and it is not pretty. They can't let the government collaspe. We have had 10 years of war and spent trillions of dollars. The citizens have advocated to bring the troops home, and nobody listens.