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Old 07-01-2013, 06:35 PM   #1
L.A. BRONCOS FAN
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Default U.S. Middle Class Sliding Toward Third World Status

More Evidence That Our Middle Class Is Sliding Toward the Third World

http://truth-out.org/buzzflash/comme...he-third-world

A recent article by Les Leopold informed us that our nation is near the bottom of the developed world in median wealth, probably the best gauge for the economic strength of the middle class. The source of the information, the Global Wealth Databook, provides additional evidence of our decline from our once-lofty position as an egalitarian country with opportunities for nearly everyone.

The data is summarized below. Column 4 reveals that the U.S. is near the top of the developed world in average wealth, in good part because of its many millionaires (Col 8). Median wealth per adult, in Column 5, is much lower. As a sign of the distance between America's middle class and its national wealth, Column 6 shows that the ratio of median to mean in the U.S. is lower than in any country except Russia.



The impact of all this is shown in Column 7.

Median-level adults in the U.S. get a smaller percentage of their nation's wealth than in any other country except China and India.

To view Column 7 in another way, a middle-class adult in Finland owns $122 for every billion dollars of his or her nation's wealth. In Canada it's $13. In the U.S. it's 60 cents. Only China (40 cents) and India (30 cents) give their middle-class adults less.

America's middle class is sliding out of the developed world and toward third-world status. Column 9 makes it clear. Among all the nations of the world with at least a quarter-million adults, only Russia, Ukraine, and Lebanon are more unequal in their wealth distribution. Most of the third world countries are, sad to say and hard to believe, fairer to their middle classes than we are.
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Old 07-01-2013, 09:05 PM   #2
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Thanks Obama

Hope and Change, right? This was supposed to turn around, but he obviously lied.
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Old 07-01-2013, 11:58 PM   #3
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Thanks Obama

Hope and Change, right? This was supposed to turn around, but he obviously lied.
So you're admitting he's a huge failure as a socialist, then?
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Old 07-02-2013, 06:47 AM   #4
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We know we know its still Bush's fault. We get your message.
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Old 07-02-2013, 07:03 AM   #5
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Obama was supposed fix this. That is what his defenders told us and still do. Looks like Wall Street is doing just fine. Those evil rich guys are doing great with Obama. Hmm.
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Old 07-02-2013, 07:18 AM   #6
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Obama was supposed fix this. That is what his defenders told us and still do. Looks like Wall Street is doing just fine. Those evil rich guys are doing great with Obama. Hmm.
Only need a quick look at his new commerce secretary to see where his real allegiances lie.

http://online.wsj.com/article/SB1000...071913328.html

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Ms. Pritzker previously disclosed that last year she received $54 million from an offshore account and more than $30 million from U.S. accounts—all related to her work dividing her family's assets. The most recent documents indicated she earned at least $80 million more than that. The disclosure documents don't provide totals of a nominee's income or assets.

If confirmed, the Chicago businesswoman, 54 years old, would be among the wealthiest members of any presidential cabinet ever, with a net worth estimated by Forbes magazine to be $1.85 billion.

A granddaughter of the founder of Hyatt Hotels Corp., H +0.05% she has started five companies. She currently serves as chief executive of PSP Capital Partners, a real-estate investment company. She also steered the record-setting fundraising machine of President Barack Obama's 2008 campaign.
Great, a silver-spooned bundling champion. Just what we need to get the working class back on its feet.
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Old 07-02-2013, 08:29 AM   #7
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The great hope of the Globalists is you continue to seek a political solution and with finger pointing at either tweedly dee or tweedly dum meanwhile they go unchecked and have you almost corralled in their pen of economic slavery.
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Old 07-02-2013, 11:21 AM   #8
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Here, Robert Reich explains how the machinery works:
http://www.orangemane.com/BB/showthread.php?t=111355

Oldest trick in the book: Divide and conquer.
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Old 07-02-2013, 03:52 PM   #9
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The righties are as confused as ever.

"Obama is a socialist, and the problem is that he's trying to redistribute America's wealth from the top down."

"No, the problem is that Obama is in bed with Goldman Sachs and Wall Street."

L0L.
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Old 07-04-2013, 09:02 AM   #10
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So Bush was a socialist? Ok now I am confused lol! Obama is trying to be everything and that is why he stinks. He does want to redistribute wealth but since he needs the rich he just redistributes middle class wealth to the poor. He wanted to ram healthcare through. The fact they rammed it through so fast was because they knew otherwise nothing this crappy and big would ever get passed. It was bad ****ing govt and we will be paying for Obamas arrogance for a long long long time. the damage Bush did? give me a break Obama is the new king of ****ing up American. He takes his place along Jimmy Carter.
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Old 07-04-2013, 09:10 AM   #11
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The righties are as confused as ever.

"Obama is a socialist, and the problem is that he's trying to redistribute America's wealth from the top down."

"No, the problem is that Obama is in bed with Goldman Sachs and Wall Street."

L0L.
Its clear you didn't learn anything from prior socialization experiments. There are two classes of "the rich" in real world socialism. Those who adequately massage political power and kiss rings enough to be allowed to keep what they have, and then those political adversaries who get redistributed as a sacrifice to the totem of social justice.

Socialism doesn't come near equality. Only a different set of ruling elites with the power not just to bankrupt you but to essentially own you.
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Old 07-04-2013, 09:33 AM   #12
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Its clear you didn't learn anything from prior socialization experiments. There are two classes of "the rich" in real world socialism. Those who adequately massage political power and kiss rings enough to be allowed to keep what they have, and then those political adversaries who get redistributed as a sacrifice to the totem of social justice.

Socialism doesn't come near equality. Only a different set of ruling elites with the power not just to bankrupt you but to essentially own you.
Too bad the thinking of the average Rightie, like yourself, is so rigid and simplistic that they can only conceive of two different economic opposites - laissez faire capitalism, which feeds all wealth to the top (which is what we have now), and socialism, which pretty much nobody really follows, though many have different degrees of what could be called socialist facets to their economies. But to the average troglodyte, it's either all one thing or all the other. This is what will doom America, that rigid minority which will destroy this country before giving up on their ignorance.
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Old 07-04-2013, 02:16 PM   #13
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Too bad the thinking of the average Rightie, like yourself, is so rigid and simplistic that they can only conceive of two different economic opposites - laissez faire capitalism, which feeds all wealth to the top (which is what we have now), and socialism, which pretty much nobody really follows, though many have different degrees of what could be called socialist facets to their economies. But to the average troglodyte, it's either all one thing or all the other. This is what will doom America, that rigid minority which will destroy this country before giving up on their ignorance.
It doesn't have to be completely lassez faire. But any time you see a system banking on a trial lawyer with an energy plan, just realize that there are worse things out there than leaving the market alone.
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Old 07-04-2013, 02:44 PM   #14
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It doesn't have to be completely lassez faire. But any time you see a system banking on a trial lawyer with an energy plan, just realize that there are worse things out there than leaving the market alone.
Yeah. All we had to do was dismantle Glass/Steagle and we were on Easy Street.
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Old 07-04-2013, 05:54 PM   #15
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Too bad the thinking of the average Rightie, like yourself, is so rigid and simplistic that they can only conceive of two different economic opposites - laissez faire capitalism, which feeds all wealth to the top (which is what we have now), and socialism, which pretty much nobody really follows, though many have different degrees of what could be called socialist facets to their economies. But to the average troglodyte, it's either all one thing or all the other. This is what will doom America, that rigid minority which will destroy this country before giving up on their ignorance.
Yep.

And the sad part is that he's not even aware that he's been brainwashed in this manner.
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Old 07-04-2013, 09:03 PM   #16
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Six Congressional sessions into Democratic control and you're still blaming Republicans?

Come on, now.
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Old 07-04-2013, 09:19 PM   #17
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The great hope of the Globalists is you continue to seek a political solution and with finger pointing at either tweedly dee or tweedly dum meanwhile they go unchecked and have you almost corralled in their pen of economic slavery.
Don't you mean the lizard people?
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Old 07-04-2013, 09:48 PM   #18
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The righties are as confused as ever.

"Obama is a socialist, and the problem is that he's trying to redistribute America's wealth from the top down."

"No, the problem is that Obama is in bed with Goldman Sachs and Wall Street."

L0L.
Socialist I thought he was a muslim, communist, radical Christian Kenyan??

Well, The rich in this country have NEVER done better than what they are doing now.

Its time to raise taxes and pull oil subsides. Time to get big banks out of politicians back pockets.

When the rich are doing better than ever and the middle class is struggling there is nothing wrong with the economy. There is something wrong with the government.
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Old 07-04-2013, 10:35 PM   #19
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Yeah. All we had to do was dismantle Glass/Steagle and we were on Easy Street.
Yeah, that damn Burkean Clinton thought he had all the answers.
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Old 07-05-2013, 11:44 AM   #20
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Good read related to this topic. We should all tune it to PBS' Frontline on July 9.

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If you screened “Two American Families” for Charles Murray and other social critics who believe that the decline of America’s working class comes from a collapse of moral values, social capital, personal responsibility, and traditional authority, they would probably be able to find the evidence they’d need to insulate themselves against the sorrow at the heart of the film. None of the four parents finished college. The Neumanns’ divorce leaves Terry and the children in worse straits than ever. The Stanleys don’t move to rural Mississippi, where life is cheaper. The kids make plenty of their own mistakes. None of them thinks of inventing Napster. The Stanleys and Neumanns are punished to the fullest extent of the economic law for every mistake made, and for all the mistakes they didn’t make.

But the intellectually honest response to this film is much less comforting, for the overwhelming impression in “Two American Families” is not of mistakes but of fierce persistence: how hard the Stanleys and Neumanns work, how much they believe in playing by the rules, how remarkable the cohesion of the Stanley family is, how tough Terry Neumann has to become. Both families devoutly attend church. Government assistance is alien and hateful to them. Keith Stanley says, “I don't know what drugs or even alcohol looks like.” In the words of Tammy Thomas, whose similar story is told in my new book, “The Unwinding: An Inner History of the New America,” these people do what they’re supposed to do. They have to navigate this heartless economy by themselves. And they keep sinking and sinking.

On Sunday, the Times reported that C.E.O. pay in 2012 increased by sixteen per cent over the previous year, with the median compensation package now at $15.1 million. The blessings at the top grow more fruitful year by year, in good times and bad. There must be a social or economic theory somewhere that explains why all this is necessary and just.
Read the whole thing here: http://www.newyorker.com/online/blog...an-worker.html
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Old 07-05-2013, 11:52 AM   #21
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Yeah, that damn Burkean Clinton thought he had all the answers.
Phil Gramm was the man who drove that change. Clinton couldn't have stopped it if he'd wanted to. You might have heard of Phil Gramm. Shortly after killing Glass/Steagle, he left government and became a VP at UBS, no doubt so he could rake in.
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Old 07-05-2013, 11:55 AM   #22
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Good read related to this topic. We should all tune it to PBS' Frontline on July 9.

Read the whole thing here: http://www.newyorker.com/online/blog...an-worker.html
The story is older than the Old Testament: Greed.
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Old 07-05-2013, 04:26 PM   #23
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The righties are as confused as ever.

"Obama is a socialist, and the problem is that he's trying to redistribute America's wealth from the top down."

"No, the problem is that Obama is in bed with Goldman Sachs and Wall Street."

L0L.
Exactly.
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Old 07-06-2013, 06:08 AM   #24
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Phil Gramm was the man who drove that change. Clinton couldn't have stopped it if he'd wanted to. You might have heard of Phil Gramm. Shortly after killing Glass/Steagle, he left government and became a VP at UBS, no doubt so he could rake in.
Read Clinton's own signing statement where he goes out of his way to take credit for driving the bill to passage.

http://www.presidency.ucsb.edu/ws/?pid=56922

Guess as usual that D just stands for Dismissed from accountability.
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Old 07-06-2013, 08:01 AM   #25
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Read Clinton's own signing statement where he goes out of his way to take credit for driving the bill to passage.

http://www.presidency.ucsb.edu/ws/?pid=56922

Guess as usual that D just stands for Dismissed from accountability.
Bubba had consummate political skills. If something was going to fail, he was nowhere in sight. If it was going to succeed, he would be in the spotlight taking credit. Who's name is on the bill? Clinton's? No. It was Gramm's baby from start to finish. Actually, it was Citicorp and the banking industry's baby, but Gramm was their stooge and got his payoff with a nice VP slot at UBS.

The truth is, this legislation got jammed up Clinton's ass. There is no way he could have stopped it so, like any clever politician, he pretended that he had some say in it. You posted his weak ass statement. Read it: "Last May, I proposed strong and enforceable Federal privacy protections for consumers' financial information. I am very pleased that the Act provides a number of the new protections that I proposed." That's like telling the fox, "Please clean up the feathers after you kill all the chickens."

You have very poor reading skills. Or maybe it's comprehension? I've considered Bill Clinton a traitor to his party for many years and said so on here. Reagan would have been proud of Bill Clinton's Right Wing accomplishments. He almost single-handedly drove the final stake through the heart of the American labor movement. You're so locked into binary political thinking that no other concept can penetrate your thick skull. The passage of the Gramm-Leach-Bliley Act is the single, most dominant cause of the downfall of the American way of life. That, and Citizens United. But only an idiot would believe that Bill Clinton was the driving force behind the bill. No. That credit goes to the banksters and the Chamber of Commerce.

You know what a "real" liberal said about the act at the time? John Dingell of Michigan said it would lead to banks becoming "too big to fail" and the U.S. government would have to bail them out. What were Republicans saying? And now the Right Wingers try to blame that bill on liberals? That's ****ing comical.
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