Posts Tagged ‘stock market’

OH, AMERICA!

December 2, 2009

Patriot's Dream

ABSTRACT

15 Signs American Society Is Coming Apart at the Seams By David DeGraw, Amped Status,  edited excerpt from the Amped Status report, “The Critical Unraveling of U.S. Society.”  LINKto full report at END of ABSTRACT.

Are we nearing a tipping point as rapacious elites push a heavily armed populace too far?

The economic elite have launched an attack on the U.S. public and society is unraveling at an increased rate. You may have missed it in the mainstream news media, but statistical societal indicators are reading red across the board. Let’s look at the top 15 statistics that prove we are under attack.

1) The inequality of wealth in the United States is soaring to an unprecedented level. The U.S. already had the highest inequality of wealth in the industrialized world. Since the crisis, the gap between the top 1 percent and the remaining 99 percent of the U.S. population has grown to a record high.

2) As the stock market went over the 10,000 mark and surged to a 13-month high, the three big banks that took taxpayer money and benefited the most from the bailout have just set a new global economic record by issuing $30 billion in annual bonuses this year, “up 60 percent from last year.” Goldman Sachs is on pace for the best year in the firm’s history, and it is also benefiting by only paying 1 percent in taxes.

3) The profits of the economic elite are “now underwritten by taxpayers with $23.7 trillion worth of national wealth.”

As the looting is occurring at the top, the U.S. middle class is just beginning to collapse.

4) Workers between the ages of 55 to 60, who have worked for 20 to 29 years, have lost an average of 25 percent off their 401k. During the same time period, the wealth of the 400 richest Americans went up by $30 billion, bringing their total combined wealth to $1.57 trillion.

5) Home foreclosure filings “hit a record high in the third quarter (of 2009)… They were the worst three months of all time… some experts estimate that next year will be even worse.”

President Obama has enacted a $75 billion taxpayer funded program that has been a spectacular failure in stemming the foreclosure crisis and another massive waste of billions of taxpayer dollars.

6) 25 million people are unemployed or underemployed.

We have 25 million people who urgently need to increase their income, and they’re quickly running out of options. “The president’s chief economic adviser warned that the nation’s unemployment rate could stay ‘unacceptably high’ for years to come.”

The New York Times reports: “Americans now confront a job market that is bleaker than ever in the current recession, and employment prospects are still getting worse.

Economist Nouriel Roubini, just reported on unemployment stating: “Think the worst is over? Wrong. Conditions in the U.S. labor markets are awful and worsening…. So we can expect that job losses will continue until the end of 2010 at the earliest. The jobs just are not coming back.”

7) As the few elite banks thrive, there have been 123 U.S. bank failures this year. The troubles put taxpayers at risk of losing as much as $5.1 billion invested in the banks since TARP was launched in October 2008.”

8) As bankruptcies surge across the board, 10 U.S. states are on the verge of bankruptcy, with several ready to declare a financial state of emergency. California, Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin, raising the likelihood of higher taxes, more government layoffs and deep cuts in services.”

9) This is occurring at a time when the “federal budget deficit for the fiscal year that just ended was $1.4 trillion, nearly a trillion dollars greater than the year before.”  In total, “U.S. public debt topped $12 trillion for the first time in history, meaning Congress would have to raise the debt ceiling to prevent a shutdown of government operations.”

Economist Dean Baker explains the risk “If the debt limit is not passed, then at some point the government will not be able to pay workers and contractors. It won’t be able to send out Social Security checks or make payments for Medicaid and unemployment insurance to state governments. And, it will not be able to make interest payments on government bonds, effectively defaulting on the national debt.”

10) Although the government’s official figure tries to low-ball the number, 47.4 million U.S. citizens live in poverty, and the U.S. poverty rate is the highest in the industrialized world.

Predictably, homelessness is rising at an increased rate as well. “The fastest growing segment of the homeless population is families with children.”

Children have been hit especially hard by the economic crisis:

11) One out of every two children in the United States of America will need to use a food stamp… to EAT!

Washington Post report: “The nation’s economic crisis has catapulted the number of Americans who lack enough food to the highest level since the government has been keeping track, according to a new federal report, which shows that nearly 50 million people — including almost one child in four — struggled last year to get enough to eat… ‘This is unthinkable. It’s like we are living in a Third World country,’ said Vicki Escarra, president of Feeding America.”

These numbers don’t take into account the millions more unemployed throughout 2009.

This a national tragedy. But it gets much worse.

12) In 2008, according to the Census Bureau, the number of U.S. citizens without health care grew to a record 46.3 million.

13) Lack of health insurance has caused 45,000 preventable U.S. citizen deaths in the past year. The American Journal of Medicine recently released a study that stated, “Nearly two out of three bankruptcies stem from medical bills, and even people with health insurance face financial disaster if they experience a serious illness.”

Studies report that: 17,000 children have died due to lack of health care; 2,266 U.S. veterans have died in 2008 due to lack of insurance.

The Senate continues to strip meaningful amendments from a health care bill that wouldn’t even take effect until 2013; the health care bill is going to fall far short of meaningful reform and continue to rig the game in favor of large insurance company profits at the expense of the U.S. population. Change is not on the horizon.

The economic hit men have now hit the United States and millions of American citizens are now effectively sentenced to a slow death.

And the clock is ticking…

14) The gun and ammunition manufacturing industry in the United States has over 200 companies producing billions of dollars in annual revenues. This huge manufacturing base cannot fulfill demand quickly enough.

Americans are arming themselves to the teeth!

15) In the past year, 100 new armed militia groups have been formed, as militia members have doubled in numbers. One federal authority recently said, “All it’s lacking is a spark. I think it’s only a matter of time before you see threats and violence.”

So let’s break down these numbers.

You have 50 million people in desperate need of money, have no health insurance and can’t afford to get health care of any kind. They are running out of options fast, and time delayed is time closer to death.

The richest 1 percent have never had it so good.

We are sitting on a powder keg.

Read the rest of the report here.

Denial isn't a river in Africa.

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SOME LIGHT, SOME DARK

November 6, 2009

Victory

State of Mind

COAL:

We can’t afford the fiction of “clean” coal anymore.  Coal is dirty.  It cannot be cleaned within the foreseeable future by any known technology – all lies, wishful thinking and futuristic theory certainly not withstanding.

We will kill all life as we know it on this planet if we do not reduce our current rate of carbon emissions.  Trust the science, not the propaganda spin of the coal merchants.  Time is running out for human survival on this earth – and if not this one, which one?  Coal burning accelerates our suicide.

Earth is in the midst of its Sixth Great Species Extinction.  Do we want to go the way of the dinosaurs?  Do we want to watch our sons and daughters, grandchildren, spouse, friends or ourselves die in our own waste and secondhand smoke?

Stop coal energy production at once.  Lead and start mass development of alternative clean energy resources today: wind, water, solar.  Protect life from ignorance, superstition, lack of vision, and selfish greed.

We have to change our basic survival assumptions if we are going to cope with this self-inflicted disaster.  Bite the bullet: stop it now.  Coal is a fuel for dead men on a dead planet.

Spokane Considers Community Bill of Rights by Mari Margil YES! Magazine

Thousands of people voted to protect nine basic rights, ranging from the right of the environment to exist and flourish to the rights of residents to have a locally based economy and to determine the future of their neighborhoods.

Of all the candidates, bills, and proposals on ballots around the country yesterday, one of the most exciting is a proposition that didn’t pass.

In Spokane, Washington, despite intense opposition from business interests, a coalition of residents succeeded in bringing an innovative “Community Bill of Rights” to the ballot. Proposition 4 would have amended the city’s Home Rule Charter (akin to a local constitution) to recognize nine basic rights, ranging from the right of the environment to exist and flourish to the rights of residents to have a locally based economy and to determine the future of their neighborhoods.

A coalition of the city’s residents drafted the amendments after finding that they didn’t have the legal authority to make decisions about their own neighborhoods; the amendments were debated and fine-tuned in town hall meetings.  READ MORE:

http://www.commondreams.org/headline/2009/11/05-8

How a Public Jobs Program Could Put America Back on Track By Julianne Malveaux, The Progressive.

The same nation that created a Works Progress Administration in the 1930s should create another one in the 21st century.

Eighty years ago this week, the stock market crashed and ushered in the Great Depression. We need to apply the lessons from that era to our own to relieve the needless suffering of the Great Recession.

In just two days, between Oct. 28 and 29, 1929, the stock market plummeted by 25 percent. Between September and November of that year, the Dow Jones Industrial Average lost 40 percent of its value. By July of 1932, the Dow had lost nearly 90 percent of its value.

By then the Great Depression was raging, with unemployment rates rising to 25 percent.

To combat unemployment and alleviate poverty, the federal government engaged in a massive public works and jobs program through the Works Progress Administration (WPA).

Private markets weren’t about to create jobs, and the public sector became the employer of last resort. The job creation from the WPA provided survival and sustenance for millions of American families. Where is the contemporary WPA?  READ MORE:

http://www.alternet.org/workplace/143710/how_a_public_jobs_program_could_put_america_back_on_track

Thousands of Right-Wingers Rally at Capitol to Hear Lies About Health-Care Reform, Courtesy of Bachmann and GOP Leaders By Adele Stan, AlterNet.

Days before a health bill is expected to pass the House, Republicans rallied their flock with the help of FOX News, Michele Bachmann and leading conservative groups.

Thousands of right-wingers rallied yesterday on the lawn on the U.S. Capitol building to hear a parade of Republican lawmakers warn them of an alleged threat to their freedom embedded in the secret channels of the health-care reform bill unveiled last week by House Speaker Nancy Pelosi. Lawmakers expect to vote on the bill this Saturday.

Congressional star power was provided on the podium by the likes of Michele Bachmann, R-Minn., who called for the rally from the hallowed platform of Sean Hannity’s FOX News program. Other big names on the Capitol podium included House Minority Leader John Boehner, R-Ohio; Joe “You Lie” Wilson, R-S.C., (who got a huge ovation from the crowd) and Whip Eric Cantor, R-Va., who promised that he was doing all he could to ensure that “not one Republican” votes for the health-care reform bill.

Actors Jon Voight and John Deszo Ratzenberger (the guy who played Cliff on Cheers) provided the glamor quotient.  READ MORE:

http://www.alternet.org/politics/143768/thousands_of_right-wingers_rally_at_capitol_to_hear_lies_about_health-care_reform%2C_courtesy_of_bachmann_and_gop_leaders

doodoocaacaapoopoo

REPUBLICAN INSURANCE NAZIS

Jon Stewart Gets Teary-Eyed Over the Plight of Glenn Beck’s Internal Organs

Posted by AlterNet Staff, AlterNet

SAVE THE WORLD TO DO LIST

October 26, 2009

What?

Michael Moore’s Action Plan: 15 Things Every American Can Do Right Now By Michael Moore, MichaelMoore.com.

5 things to demand Obama and Congress to do immediately, 5 things the politicians must hear from us, 5 things we should do to protect ourselves and family.

Friends,

It’s the #1 question I’m constantly asked after people see my movie: “OK — so now what can I do?!”  You want something to do? Well, you’ve come to the right place! ‘Cause I got 15 things you and I can do right now to fight back and try to fix this very broken system.  Here they are:

FIVE THINGS WE DEMAND THE PRESIDENT AND CONGRESS DO IMMEDIATELY:

1.      Declare a moratorium on all home evictions.

2.      Congress must join the civilized world and expand Medicare For All Americans. The bill to make this happen is called H.R. 3200 (but only with Rep. Anthony Weiner’s amendment). You must call AND write your members of Congress and demand its passage, no compromises allowed.

3.      Demand publicly-funded elections and a prohibition on elected officials leaving office and becoming lobbyists. Tell your members of Congress they must support campaign finance bill H.R.1826.

4.      Each of the 50 states must create a state-owned public bank like they have in North Dakota.  Reinstate all the strict pre-Reagan regulations on all commercial banks, investment firms, insurance companies (Click here for some info about the state-owned Bank of North Dakota.)

5.      Save this fragile planet and declare that all the energy resources above and beneath the ground are owned collectively by all of us. (For more on this, here’s a proposal I wrote in December.)

FIVE THINGS WE CAN DO TO MAKE CONGRESS AND THE PRESIDENT LISTEN TO US:

1.      Each of us must get into the daily habit of taking 5 minutes to make four brief calls: One to the President (202-456-1414), one to your Congressperson (202-224-3121) and one to each of your two Senators (202-224-3121). To find out who represents you, click here.  Trust me, they will listen. If you have another five minutes, click here to send them each an email. And if you really want to drop an anvil on them, send them a snail mail letter!

2.      Take over your local Democratic Party.  When you all become the local Democratic Party, send me a photo of the group and I’ll post it on my website.

3.      Recruit someone to run for office who can win in your local elections next year — or, better yet, consider running for office yourself! Check out examples of regular citizens who got elected.  The list goes on and on — and you should be on it!

4.      Show up. Picket the local branch of a big bank that took the bailout money.  Make some noise, have some fun, get on the local news.

5.      Start your own media.  Start a blog! Start a website.  Tweet your friends and use Facebook. The daily papers are dying.  Fill that void.

FIVE THINGS WE SHOULD DO TO PROTECT OURSELVES AND OUR LOVED ONES UNTIL WE GET THROUGH THIS MESS:

1.      Take your money out of your bank if it took bailout money and place it in a locally-owned bank or, preferably, a credit union.

2.      Get rid of all your credit cards but one — the kind where you have to pay up at the end of the month or you lose your card.

3.      Do not invest in the stock market.  Buy very safe government savings bonds or T-bills. Or just buy your mother some flowers.

4.      Unionize your workplace so that you and your coworkers have a say in how your business is run. Here’s how to do it (more info here).  Turn your business into a worker-owned cooperative. You are not a wage slave.

5.      Take care of yourself and your family.  Turn off the TV and the Blackberry and go for a 30-minute walk every day.

I’m sure there are many other ideas you can come up with on how we can build this movement. Get creative.  And when you act, send me your stories, your photos and your video — and be sure to post your ideas in the comments beneath this letter on my site so they can be shared with millions.

C’mon people — we can do this! I expect nothing less of all of you, my true and trusted fellow travelers!

Yours, Michael Moore

MMFlint@aol.com, MichaelMoore.com

READ MORE:

http://www.alternet.org/action/143444/michael_moore%27s_action_plan%3A_15_things_every_american_can_do_right_now?page=3

Inter Press Service

American Public More Complacent About Climate Change by Jim Lobe.

WASHINGTON – Less than two months before a key international conference on curbing climate change, a major U.S. poll has found a sharp drop in public concern about global warming.

According to the survey by the Pew Research Centre for the People & the Press, 65 percent of the public believes that warming constitutes either a “very serious” (35 percent) or “somewhat serious” (30 percent) problem, down from 79 percent in July 2006 and from 73 percent just 18 months ago.

The survey also recorded a sharp drop in the percentage of the public that believes that “there is solid evidence the Earth is warming” – down from 71 percent in April, 2008, to 57 percent – and in the percentage that believes global warming is caused primarily by human activity – from 47 percent to 36 percent over the same period.

The survey of 1,500 adult respondents comes was released just six weeks before the U.N. Climate Change Conference in Copenhagen where the representatives of 192 nations will gather to hash out the basic principles of a treaty to curb global emissions of greenhouse gases that virtually all climate and atmospheric scientists agree constitute the major cause of global warming.  READ MORE:

http://www.commondreams.org/headline/2009/10/23-0

Koi Pond