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Old 07-28-2013, 11:06 AM
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80 Percent Of U.S. Adults Face Near-Poverty, Unemployment: Survey

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Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.

The findings come as President Barack Obama tries to renew his administration's emphasis on the economy, saying in recent speeches that his highest priority is to "rebuild ladders of opportunity" and reverse income inequality.

As nonwhites approach a numerical majority in the U.S., one question is how public programs to lift the disadvantaged should be best focused – on the affirmative action that historically has tried to eliminate the racial barriers seen as the major impediment to economic equality, or simply on improving socioeconomic status for all, regardless of race.

Hardship is particularly growing among whites, based on several measures. Pessimism among that racial group about their families' economic futures has climbed to the highest point since at least 1987. In the most recent AP-GfK poll, 63 percent of whites called the economy "poor."

"I think it's going to get worse," said Irene Salyers, 52, of Buchanan County, Va., a declining coal region in Appalachia. Married and divorced three times, Salyers now helps run a fruit and vegetable stand with her boyfriend but it doesn't generate much income. They live mostly off government disability checks.

"If you do try to go apply for a job, they're not hiring people, and they're not paying that much to even go to work," she said. Children, she said, have "nothing better to do than to get on drugs."

While racial and ethnic minorities are more likely to live in poverty, race disparities in the poverty rate have narrowed substantially since the 1970s, census data show. Economic insecurity among whites also is more pervasive than is shown in the government's poverty data, engulfing more than 76 percent of white adults by the time they turn 60, according to a new economic gauge being published next year by the Oxford University Press.

The gauge defines "economic insecurity" as a year or more of periodic joblessness, reliance on government aid such as food stamps or income below 150 percent of the poverty line. Measured across all races, the risk of economic insecurity rises to 79 percent.
http://www.huffingtonpost.com/2013/0...n_3666594.html

How do you like the mass globalization now? It happens in all western countries...



The Federal Reserve Is Bailing Out Foreign Banks … More than the American People or Economy

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Federal Reserve Policy Mainly Benefits Big Foreign Banks

We’ve extensively documented that the Federal Reserve is intentionally locking up bank money so that it is not loaned out to Main Street. Specifically – due to Fed policy – 81.5% of all money created by quantitative easing is sitting there gathering dust in the form of “excess reserves” … instead of being loaned out to help Main Street or the American economy.

And we’ve extensively documented that a large percentage of the bailouts went to foreign banks (and see this and this). (A 2010 Fed audit also revealed that of the $1.25 trillion of mortgage-backed securities the central bank purchased after the housing bubble popped, some $442.7 billion - more than 35% – were bought from foreign banks.)

It turns out that these themes are all connected.

Specifically, most of the Fed-created money which is gathering dust is actually being held by foreign banks.

The Levy Economics Institute noted in May:

Excess reserves are the surplus of reserves against deposits and certain other liabilities that depository institutions (loosely called “banks”) hold above the amounts that the Board requires within ranges set by federal law. The general requirement is that covered institutions maintain reserves at least equal to ten percent of liabilities payable on demand. For the first time in history, there is statistical evidence that as much as one-half or more of excess reserves are held for United States banking offices of foreign banks.

Zero Hedge reports today:

As per last night’s [Federal Reserve] H.8 update, commercial bank deposits rose by $94 billion in the week ended July 17: the fourth largest weekly increase in history …. This took total commercial bank deposits to an all-time high of $9.54 trillion.

***

The entire difference can be attributed to the $2+ trillion in excess reserves created by the Fed since the start of the [global financial crisis].
http://www.globalresearch.ca/the-fed...conomy/5344152

How do you like the economy now?
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Old 07-28-2013, 12:06 PM
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Corporations have moved our labor overseas. Some Americans have been able to get positions in IT, hold on to their small business, live off inheritance, or get a higher position with a corporation or the government. But the manufacturing side is not doing well because corporations prefer the cheap labor found elsewhere.

Then we have rules designed to protect corporations so they can continue to dominate while making it really difficult for smaller businesses to thrive. Increasingly it is not the American people writing the laws, but the lobbyists working for the corporations. This setup is great for shareholders as corporations can find profit without government getting in the way, whether that be the US government or foreign governments. Then corporations are under no obligation to spend or hold the money they earn in any particular country.

I'm not sure there is a solution we will find in the near future. Corporations are only getting more powerful, and may increasingly have more power than governments. We are going through fast and often volatile transitions as technology and innovation move at rates never seen. Often new technologies make a small set of people very wealthy while many others are left behind. This has been true throughout history.
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Old 07-28-2013, 05:04 PM
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Originally Posted by dvduval View Post
Corporations have moved our labor overseas. Some Americans have been able to get positions in IT, hold on to their small business, live off inheritance, or get a higher position with a corporation or the government. But the manufacturing side is not doing well because corporations prefer the cheap labor found elsewhere.

Then we have rules designed to protect corporations so they can continue to dominate while making it really difficult for smaller businesses to thrive. Increasingly it is not the American people writing the laws, but the lobbyists working for the corporations. This setup is great for shareholders as corporations can find profit without government getting in the way, whether that be the US government or foreign governments. Then corporations are under no obligation to spend or hold the money they earn in any particular country.

I'm not sure there is a solution we will find in the near future. Corporations are only getting more powerful, and may increasingly have more power than governments. We are going through fast and often volatile transitions as technology and innovation move at rates never seen. Often new technologies make a small set of people very wealthy while many others are left behind. This has been true throughout history.
You have many factors that reduce employments.

1) Cheap labor overseas
2) Overseas charge less taxes and have less regulations
3) Countries that apply protectionism, so the products made in US cannot be exported at the risk of super taxation overseas.
4) Corporations moving high technologies operation because they can reduce cost overseas.

5) Technology replacing workers

All of these factors are the same destroying Europe, we are in the same boat. At some point we are going to protect our own markets for our survival.
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Last edited by Franc Tireur; 07-28-2013 at 05:31 PM.
 
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Old 07-28-2013, 05:30 PM
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A good documentary to watch.

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A brief look at the birth and rise of Corporate-States from the British East-India company to today's Wall Street "Multinationals", from chartered corporations acting on behalf of the Colonial Powers to corporations outweighing and surpassing the state. How the huge Corporate States have robbed the people of the world of their jobs, labor and natural resources from the blood diamonds of Africa to the blood oil of Iraq where the Anglo-American axis killed well over a million Iraqis to save the petrodollar.

The corporate ethos of maximizing profit for the shareholders at any expense with the end justifying all means no matter how dirty or bloody, but who are the real shareholders (over 85% of the class A shares in major fortune 500 corporations are owned by the global oligarchs, a relatively few wealthy families aka The super elite.
[YT]Ip2pWlvDRy8[/YT]
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Old 07-28-2013, 07:05 PM
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In contrary...this article from a few months ago reveals outrageous corruption...Buckle up it is huge!

Fresh leaks reveal outrageous corruption among political leaders

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An unprecedented leak of documents has disclosed outrageous financial corruption among prominent political figures and billionaires across the world.


A collection of 2.5 million records obtained by the International Consortium of Investigative Journalists (ICIJ) -- a global network of journalists from more than 60 countries -- has unmasked high ranking politicians, arms dealers and other famous individuals from 170 countries operating under the cover of private trusts and businesses in the British Virgin Islands, the Cook Islands and other offshore locations.

The list includes famous names such as Azeri President Ilham Aliyev and his family, the daughter of Philippines’ former dictator Ferdinand Marcos, and Baroness Carmen Thyssen-Bornemisza, who is one of the most prominent art collectors in the world.

The ICIJ, in collaboration with 86 journalists from 46 countries, obtained the information from the contents of emails and accounting records accumulated over a period of 30 years.

The leaks, which shed light only on the covert activities of 122,000 offshore companies and 120,000 lawyers, brokers and accountants, are just a prelude to future revelations about tax havens. Extra information has been promised to be exposed to public opinion in the coming weeks.

Such a widespread investigation by 40 papers and news organizations from across the globe around “Offshore Leaks” project is unprecedented in the history of world’s journalism and is a real declaration of war on tax havens.

The time is conducive to laying bare the scandals of corrupt politicians, international traffickers, Mafia gangs and tax-evading rich people.

“I've never seen anything like this. This secret world has finally been revealed,” said Arthur Cockfied, law professor and tax expert at Queens University in Canada, who has seen the documents.

There is no clear definition for a tax haven. Nor is it clear under what conditions an island, archipelago or a country would be recognized as a tax haven.

Analysts slam offshore tax havens for promoting global corruption by enabling the wealthy to evade payment of taxes and thus shifting the burden onto the ordinary public.

Offshore tax havens also enable corrupt officials to loot national treasuries and cover up the activities of global crime syndicates.

The annual flow of global proceeds of financial crimes to offshore tax havens stands at 1.6 trillion US dollars.

In a bid to protect the identities of the real owners of companies, offshore services firms usually appoint fake directors and shareholders to confuse investigators.

A study by James S. Henry, former chief economist at McKinsey & Company, and a board member of the Tax Justice Network, shows that the estimated amount of 32 trillion US dollars stashed away in offshore havens is roughly equivalent to the size of the US and Japanese economies combined, and that half of the amount belongs to 91,000 individuals.

While the economies of the Western countries are shrinking, Henry’s study shows that offshore funds continue to burgeon, with assets managed by the world’s 50 largest "private banks" that provide access to offshore financial services, growing from 5.4 trillion US dollars in 2005 to above 12 trillion US dollars in 2010.

The ICIJ’s study estimated that offshore accounts hold more than 20 trillion US dollars.

According to the International Monetary Fund (IMF), 50 percent of international financial transactions are carried out through the offshore tax havens and the value of the assets of the companies located in these places exceeds 7 trillion US dollars.

Tax havens are also home to over 4,000 banks and two-thirds of the world’s investment funds, the IMF says.
http://presstv.com/detail/2013/04/11...g-politicians/
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Old 07-28-2013, 08:05 PM
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Lower taxes and fewer regulations can mean that the worker conditions are much worse overseas. But corporations don't really care about that. However, I would hope that we as americans care about that for our work ethics.
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Old 07-29-2013, 10:45 AM
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Originally Posted by dvduval View Post
Lower taxes and fewer regulations can mean that the worker conditions are much worse overseas. But corporations don't really care about that. However, I would hope that we as americans care about that for our work ethics.
Respectfully for the workers overseas, that's not really our problem, do they care about us? I don't think so.

You have to know that we aren't in a real economy but rather in a speculative economy which is out of control.

A few shocking numbers for 3 months from the eyes of a regular person: JP Morgan, +31% ; Citibank, +42% ; Bank of America, +63% ; Morgan Stanley, +74% ; Goldman Sachs, +101%

They made 12 billions dollars profits in 3 months, the casino bets are on, and they never learned from the last crash, businesss like usual.
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Old 07-29-2013, 01:02 PM
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Originally Posted by Franc Tireur View Post
In contrary...this article from a few months ago reveals outrageous corruption...Buckle up it is huge!

Fresh leaks reveal outrageous corruption among political leaders

Wow, that is nothing less than shocking! Glad to be informed!
 
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Old 07-29-2013, 01:34 PM
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The title of this thread is very misleading. The very first line clarifies.

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Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.
Even some folks who are viewed as wealthy today might very well have struggled at some point in their life.
 
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Old 07-29-2013, 03:02 PM
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Even some folks who are viewed as wealthy today might very well have struggled at some point in their life.
Very true and some who may have struggled in their life, become the oppressors too.
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Old 07-29-2013, 03:32 PM
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You may take a closer look at the Executive Life Insurance Company case and Adidas case. I have followed these cases, when the bank own and use offshore investments firms in paradise fiscal heaven to bypass laws and make tons of money. When bank scam company owners via their offshore firms because they cannot legally sell assets of their customers and own it at the same time to resell to the buyers making double of profits.

All of this is real. You cannot imagine how shadow offshore banking works if you don't learn a little bit about it. That gives you an idea on how these people really are.
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Old 07-29-2013, 03:35 PM
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A casual observer would have called us "dirt poor" as I grew up. Monetarily that might have been accurate. I was taught things far more important than having the latest fashion or the world's greatest cell phone or other toy. I was taught respect for my fellow mankind of all races and religions. I was also taught that you can achieve most anything you set your mind to doing. I was taught that it doesn't matter what you make; it is what you save that counts. I don't think you can put a material price on those teachings.

As a young adult I was too poor to pay attention. I never lost the dream and worked a killer job or two or three lessor jobs at the same time. We could have spoiled the children but we decided that "old ways" which were out of style in this generation were for the best so we we strived to teach what we had learned. I am pretty proud of all 3 of the kids.

At this point in my life I oppress no one but I sure as hell ain't apologizing for what I have. If anyone wants it they can work for it like I did. One job don't cut it then get two.
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Old 07-29-2013, 04:12 PM
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A casual observer would have called us "dirt poor" as I grew up. Monetarily that might have been accurate. I was taught things far more important than having the latest fashion or the world's greatest cell phone or other toy. I was taught respect for my fellow mankind of all races and religions. I was also taught that you can achieve most anything you set your mind to doing. I was taught that it doesn't matter what you make; it is what you save that counts. I don't think you can put a material price on those teachings.

As a young adult I was too poor to pay attention. I never lost the dream and worked a killer job or two or three lessor jobs at the same time. We could have spoiled the children but we decided that "old ways" which were out of style in this generation were for the best so we we strived to teach what we had learned. I am pretty proud of all 3 of the kids.

At this point in my life I oppress no one but I sure as hell ain't apologizing for what I have. If anyone wants it they can work for it like I did. One job don't cut it then get two.
I understand your point of view, unfortunately things are changing from the companies by their methods, their goals and their business models and people have different problems. I don't blame the older generations for that, but you cannot compare what was happening 50 years ago with today.

I believe the approach should be different than comparing things that are uncomparable.
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Old 07-29-2013, 04:26 PM
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Our grandparents survived the depression. Surely you're not saying that we can't learn from them because things are different now?

Clearly you and I see the world around us through very different eyes...
 
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Old 07-29-2013, 05:02 PM
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This is really sad but it is bond to happen that's how the capitalist system works and we have to know that if one of us wants to be super rich then a poor person somewhere has to suffer because of our lifestyle. Not saying we're to blame but the truth is the world isn't a fair place.
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Old 07-29-2013, 05:18 PM
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Our grandparents survived the depression. Surely you're not saying that we can't learn from them because things are different now?

Clearly you and I see the world around us through very different eyes...

Maybe you and I see things differently, but how did you see the world? From Texas?
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Old 07-29-2013, 05:53 PM
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I have now said this for the last time...

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If you are not able to discuss a topic respectfully then you need to remove yourself from the topic. If you are unable to discuss a topic with a specific member then you need to choose to ignore that member or take the discussion off the boards. If you are unable to do either of these things, I will help you to do so.
Let's move on.
 
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Old 07-30-2013, 06:21 AM
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This is really sad but it is bond to happen that's how the capitalist system works and we have to know that if one of us wants to be super rich then a poor person somewhere has to suffer because of our lifestyle. Not saying we're to blame but the truth is the world isn't a fair place.
I would never have said this when I was younger but sadly Franc is partly right. Unrestrained capitalism is just another ism and is in the same class as Socialism, Communism and Fascism. Every system requires some checks and balances.

Currently there are very few. Our government and yours have been purchased by the high bidder at the lobby auction. Government is in bed with the corporations and does not protect the common people as it should. It attempts to placate them with self respect destroying, dole money and food stamps.
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Last edited by ScriptMan; 07-30-2013 at 07:39 AM.
 
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Old 07-31-2013, 05:07 AM
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Our grandparents survived the depression. Surely you're not saying that we can't learn from them because things are different now?

Clearly you and I see the world around us through very different eyes...
There are many with more university degrees than I who believe we are currently in a depression, not a recession.
If that's the case, then we'll have a whole new generation of kids who will know the true value of things when this is all said and done.

Quote:
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I would never have said this when I was younger but sadly Franc is partly right. Unrestrained capitalism is just another ism and is in the same class as Socialism, Communism and Fascism. Every system requires some checks and balances.

Currently there are very few. Our government and yours have been purchased by the high bidder at the lobby auction. Government is in bed with the corporations and does not protect the common people as it should. It attempts to placate them with self respect destroying, dole money and food stamps.
To be fair to capitalism, we are currently NOT practicing it.
What we are living through is a twisted version of capitalism (crony capitalism), mixed with fascism.
If we had true capitalism with actual price discovery and no manipulation, things would be very different for most people.
Capitalism definitely needs checks and balances, as any system does, but when they are in place, it's a pretty darned good system.
 
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Old 09-11-2013, 11:02 AM
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We basically begged our government for a free market. A free market means you can hire whoever you want. A free market means your pay will be scaled to meet that of anyone in the world, including a Chinese man who can do your job for 10 cents a day. We used to have regulations on this, but people voted them away, and continue to do so, while wondering why their getting paid peanuts.
 
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