Tag: sellout

Once we realize there is no fiscal cliff and the whole premise is a myth, you think about why it was created. It was created so we can mop up after the 1% which owns all three branches of government including the President. Obama didn’t add a raise in the debt ceiling to the Obama Bush tax cut deal he made in 2010 which created this political mess we are in right now.

Yet the poor and middle class are supposed to “stop whining and complaining” and just mop it up as if it’s one of the menial 60% of low wage jobs created that were part of this “recovery” where 93% of the income it went to the top 1%? I don’t think that’s fair. He needs to ask his Wall St buddies in his Treasury Department to share sacrifice. We have sacrificed enough in the name of the fantasy evil deficits from the land of Mordor causing fantasy default. Think about this when Nancy Pelosi was lying to you about this sellout ultimately helping the middle class last night.

From blatant robbery to money laundering, here are the biggest scandals of 2012 banking history.

#9. Middle-Class Wealth declines by 35 percent

On July 18, 2012, the U.S. Bureau of the Census made it official: The middle-class is getting poorer. The median family — that family exactly at the mid-point of the wealth ladder  — saw its net worth collapse. (Net worth is all assets minus all liabilities.) In 2005, the median family’s wealth was valued at $102,844 (in inflation adjusted dollars.)  By 2010, the latest Census figures showed a drop of 35 percent to $66,740.

And we’re supposed to celebrate this?  

And when one make excuses for chained CPI without doing any research because they’ll blindly follow whatever a politician proposes regardless of the consequences, that is a choice of action taken. Action that actually shows how one does not care about people. It can be witnessed. It can be read and it can be judged, so I will be doing so now.

Pointing this out harshly will not hurt seniors like the action of cutting their SS income while their cost of living of has risen roughly 0.27 percentage points faster per year than the CPI-W which is what is used now for their COLA. When one is defending this action orally or in writing because of their perceived party loyalty, though it’s not really party loyalty because this isn’t what FDR envisioned whom defined the modern Democratic party, that shows disdain for the most vulnerable in our society and that is a fact.

Yes, the grand bargain is coming up before the deadline by December 31st, 2012.

Social Security, Medicare, and Medicaid will be on the chopping block like it was last time. This is not a conspiracy theory, and it comes from solid sources involved in all of the deliberations if you read the source material provided. Sure, some can pretend it is CT. They can even cry it out loud from the rooftops while closing their eyes and plugging their ears, but the reality based community is all talking about this because this is confirmed reality, and the prospects are real like they were last time.

It’s really up to those that would deny this confirmed reality to prove the actual sources in the Senate are all liars in the WaPo peice. Either that or they have heads their heads in the sand for all of 2011 and this is just too much of a downer to acknowledge but it’s time to grow up. These are facts. Denying the factual historical record in 2011 disqualifies anyone writing about these matters at all. Yes, when the entirely self induced entirely avoidable fake fiscal cliff was made real through the stop go that was passed to raise the debt ceiling in Aug 5, 2011 it set this whole pathetic fiscal cliff debacle coming up.

Rick Pearlstein: Author of Nixonland details the Grand Bargain coming up as well.

America didn’t vote for a “grand bargain”

I heard Dick Durbin, the Illinois senator who is close to Obama, on the radio the next morning boasting that he was one of the Democrats on the Simpson-Bowles Commission to vote for its recommendations – recommendations that included, in addition to changes in the tax code meant to increase revenue (while also cutting tax rates), diminishing eligibility and benefits for Medicare and Social Security. Though the commission failed to reach consensus, making its proposals moot, it was aiming at just the sort of “grand bargain” that Obama has consistently and quietly spoken about as his sort of beau ideal for what a successful presidency would look like. Durbin went on to say he hoped a grand bargain might be wrapped up in the next calendar year, before congressmen and senators became preoccupied with reelection.

Cross posted in Orange and at Voices on the Square

Yes, this is true. It’s not a popular saying, but I’m not here to make everyone feel good for 2012 electioneering while people are suffering to feel a sense of belonging among the Washington elite prognosticating over poll numbers instead of real issues. As we have this debate over 4 percentage points in the tax code, the overall omission of most Americans suffering from the fallout of the housing bubble is insulting.

That’s right. This debate ignores the big elephant in the room; the millions of people underwater defrauded into mortgage debt and other private debt chaining them to their deflating assets with no sufficient income prospects added up and compounded in a usurious fashion sucking demand out of the economy. For those that do not “got theirs jack” and can’t afford cable news to cheer along with this partisan war syndrome dynamic, this actually matters.

It matters because as I have chronicled here, here, here, and here, the Foreclosure Fraud Settlement was an insult to the millions injured from the fallout of this bubble once NY AG was bought off to prop it up with stilts. Banks were given credit for the HAMP mods in addition to being propped up by the other failed HARP program. Basically those that defended that settlement or any of these programs anymore have to admit now they knew nothing.

For want or need of a nice election tune, many are tuning in to this election while too many are tuning out these debilitating economic problems because the absolute failure to deal with them at all. I partially understand, it is daunting and demoralizing, but whether one wants to tune in to these problems or not, the song remains the same.

It’s the song of the decade and it goes well beyond this election.