Do you hear that sound? It is the sound of Europe being hit with a cold dose of financial reality. The air has been let out of the balloon, and investors all over the world are realizing that absolutely nothing has been solved in Europe. The solutions being proposed by the politicians in Europe are just going to make things worse.
Former Fed Chairman Paul Volcker laughs at the great increase in wealth disparity over the past 10 to 15 years, and at Americans for not speaking out more forcibly against it. In an October 24, 2011 interview with Charlie Rose, former Fed Chairman and fellow Bilderberger, Paul Volcker, laughed at the great increase in wealth disparity in the United States over the past 10 to 15 years, and at Americans for not speaking out more forcibly against it (starting at 18:27).
Are the sustained protests in Manhattan's Financial District and around the country getting to the wealthy bankers who are being targeted?
The austerity class testifies frequently before Congress, is quoted constantly in the media by sympathetic journalists and influences policy-makers and elites at the highest levels of power. They manufacture a center-right consensus by determining the parameters of acceptable debate and policy priorities, deciding who is and is not considered a respectable voice on fiscal matters. The “balanced” solutions they advocate are often wildly out of step with public opinion and reputable economic policy, yet their influence endures, thanks to an abundance of money, the ear of the media, the anti-Keynesian bias of supply-side economics and a political system consistently skewed to favor Wall Street over Main Street.
The weight of the 1 Percent has become intolerable. How can we take our country back? Here’s where we are in the course of human events right now: 14 million Americans are jobless and millions more are underemployed. Those still working have seen wages fall after 30 years of stagnation. The 1 Percent of top wage earners could buy and sell the rest of us without so much as a low balance warning on their checking account apps.
Occupy Wall Street should not be content with half-measures, even as it encourages and applauds the tiny hundredth-measures that might come first.
Bank Transfer Day (Nov. 5) is just around the corner. Time to assert your economic citizenship and end the dysfunctional relationship with your blood-sucking bank.
Wages are stagnant or falling. Foreclosures are tearing through communities, and falling home prices are destroying family equity. It's like a reverse New Deal.
NYPD floods Wall Street with cops to pen in protesters, then blames Occupy Wall Street for diverting resources as gun violence spikes across the city.
Incredible footage emerged from downtown Oakland last night - not of basic law enforcement efforts to maintain public "health and safety" as the police have been claiming - but of a war zone in which police shot tear gas, bean bags, wooden dowels, flash grenades, and rubber bullets at protesters.
Income for the richest Americans has grown 15 times faster than for the poor since 1979, a government study showed, as a poll out Wednesday highlighted deep anxiety over uneven wealth distribution a year ahead of US elections. Household income for top 1% more than triples, while middle-class incomes grow by less than 40%. (AFP/Getty) The income disparity, and concentration of more than 80 percent of US income wealth in the top 20 percent of earners, highlights the volatility in the race for the White House as President Barack Obama's Republican challengers push plans to reduce taxes for the wealthy as a way to prime the sluggish economy.
China’s interference in markets to limit its currency appreciation is under increasing fire from US politicians who claim that the policy is costing American jobs. But several recent studies indicate that changing China’s currency policies alone would not necessarily benefit the US economy or its workers.
WINTERTHUR, Switzerland - Here’s a gift to Occupy Wall Street protesters around the world: you now have scholarly proof that banks control the world. The study says the United States takes home first prize with 24 companies cracking the list of the top 50 most powerful global firms. (STAN HONDA/AFP/GETTY IMAGES) Researchers at the Swiss Federal Institute of Technology Zurich, also known as ETH, have published a paper that argues just 147 companies account for a large chunk of the total economic value of all the transnational companies around the world. No exact dollar figures, but it’s obviously a vast sum.
OWS demonizes powerful banks. The Tea Party demonizes the poorest and weakest of us all. Host David Gregory complained about Occupy Wall Street protestors “demonizing banks” and wondered, “Is this not a reverse tea party tactic?” Gregory is right. In many respects Occupy Wall Street (OWS) is indeed a mirror image of the Tea Party. To the Tea Party government is the enemy. To OWS the huge corporation is the enemy. OWS wants to raise taxes on billionaires. The Tea Party wants to considerably reduce them. OWS wants to rebuild and strengthen the safety net. The Tea Party wants to weaken it.
The total of U.S. state debt, including pension liabilities, could surpass $4 trillion, with California owing the most and Vermont owing the least, a new analysis says.
President, Dems accused of deliberately overloading country's financial system. A new book released today documents how President Obama and progressive Democrats are deliberately overloading the U.S. financial system, using socialist designs to remake the economy.
Globalization’s chickens are coming home to roost on Wall Street. There is no faster way to dissect our current sociological climate than to go out and ask as many people as possible what they think about the Occupy movement and what they think it wants to achieve. The answers will surprise.
Last weekend, at the dedication of the Martin Luther King, Jr. National Memorial on the Washington Mall, two of King’s children gave shout-outs to Occupy Wall Street, now spreading around the country and the world. His daughter Bernice spoke of it as “a freedom explosion” and his son Martin eloquently hailed “the young people of the Occupy movement all over this country and throughout the world [who] are seeking justice... for working class people barely making it, justice for middle class folk unable to pay their mortgages... justice for the young people who graduate from college and are unemployed and burdened by student loans they cannot repay, justice for everyone who is simply asking the wealthy and corporations to pay their fair share.”
The corporate media may obsess about what Occupy Wall Street is all about, but these images should make it clear. What are the Occupy Wall Street protesters angry about? The same things we’re all angry about. The only difference is the protestors turned their anger into public action. Occupy Wall Street lit the embers and the sparks are flying. Whether it turns into a genuine populist prairie fire depends on all of us.
According to figures published by the Social Security Administration Thursday, the median income for American workers in 2010 was $26,364, just slightly above the official poverty level of $22,025 for a family of four. Median income is the point at which half of all workers make less and half make more. The 50 percent of all workers who earn less than the median income are either living in poverty or escaping it only by virtue of having two or more full-time workers in the household—meaning that a layoff that reduces the family to a single income puts them perilously close to impoverishment.
THE BRUTAL MURDER of Muammar Gaddafi by Zionist-owned Libyan insurgents is an example of what happens to political leaders who defy international Jewish bankers. Gaddafi refused to do the bidding of the Rothschild-centered global banking cartel in 5 areas:
Do you want to know the real reason banks aren't lending and the PIIGS [Portugal, Ireland, Italy, Greece, Spain] have control of the barnyard in Europe? NYSE Trading FloorIt's because risk in the $600 trillion derivatives market isn't evening out. To the contrary, it's growing increasingly concentrated among a select few banks, especially here in the United States.
As the Occupy Wall Street movement that began in downtown Manhattan’s Zuccotti Park enters its second month, the giant Goldman Sachs investment bank announced October 19 that it had set aside $10.01 billion so far this year for year-end compensation and bonuses. At the same time, the bank reported a third quarter loss of $428 million, only the second time since Goldman went public in 1999 that it has reported a loss.
The 1318 transnational corporations that form the core of the economy. Superconnected companies are red, very connected companies are yellow. The size of the dot represents revenue. AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters’ worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.
Gold markets will never be the same again once China establishes the so called Pan Asia Gold Exchange (PAGE), scheduled to open in June, 2012, analysts predicted. The Exchange, which will be opened at Kunming, capital of China’s southwestern province of Yunman will certainly change the way gold prices are setting, analysts added. The setting up of the Exchange is entitled to change global supply and demand dynamics and how gold can be traded. Many believes that it will create greater transparency in the markets because the gold will be priced in terms of an alternative currency, bypassing the dollar, which remains global currency.
Ron Paul warned of looming widespread economic collapse caused by reckless financial practices and abetted by government guarantees during an interview on Des Moines radio this morning. “The country is in chaos and if we don’t do something, it’s going to get much, much worse,” the presidential candidate said.
Since the North American Free Trade Agreement (NAFTA) became the law of the land, millions of Mexicans have joined the ranks of the hungry. Malnutrition is highest among the country’s farm families, who used to produce enough food to feed the nation.
Young people accepted a home mortgage worth of debt before they ever even had a regular income based on phony promises.
If you've wondered what Occupy Wall Street was all about, these powerful messages should help clarify what's driving the movement. That photograph of well-heeled traders sipping champagne on a balcony high over Zuccotti Park as they look down on the Occupation below is already an iconic image, capturing the haughty detachment with which Big Finance has received this rapidly spreading expression of popular outrage. The movement is now using a variety of strategies to take its message directly to the "1 percent” – to make sure they can't ignore the protests from the comfort of their sheltered enclaves.
"People are coming back to farms around here that they abandoned years ago so they can grow potatoes, cabbages and vegetables to help them survive the crisis," says Petros Citouzouris, as he pruned his vines high in the mountains of Naxos, the largest island in the Cyclades. The financial catastrophe in Greece is engulfing the most isolated parts of the country.
The Occupy Wall Street movement—which has gained the support of 54 percent of Americans, according to a Time poll—has, remarkably, apparently inspired free-marketeer House Majority Leader Eric Cantor to address America’s Pakistan-level inequality in speech on Friday.
Republican candidates are all calling for major spending cuts starting as soon as possible. What are they smoking? Ron Paul’s newly-unveiled economic plan – promising to cut $1 trillion from the federal budget in year one (presumably that means 2013) – is only slightly more ambitious than what we’re hearing from other Republican candidates. They’re all calling for major spending cuts starting as soon as possible.
We've ranked the banks based on how shamelessly they game the political process through lobbying, revolving door politics and campaign donations. The economic crash led to the loss of 9 million jobs and the biggest drop in American home-ownership since the Great Depression. Long-term unemployment, poverty and hunger have increased dramatically. People are angry. The Occupy Wall Street movement, a stand against Wall Street's greed, excess and criminality, has captured the imagination and participation of millions across the nation and the globe.
Trapped assets that generate no income streams in the present are not capital; the value of such non-productive assets is illusory. Strip away these trapped assets and the reality is revealed: most American households toil to service their debts. The typical American household is insolvent: its debts exceed its assets. There is nothing fancy about calculating insolvency: if debts exceed assets, the enterprise is insolvent. By this measure, most American households are insolvent, if their real assets are marked to actual market.
"Game Changer of the Year." Author Naomi Wolf was attending the event, along with Arianna Huffington and reality TV star Kim Kardashian, among others, but Wolf joined the protesters and wound up taken away in handcuffs after marching in front of the restaurant where the event was held. Reporter Allison Kilkenny told me that the protesters decided to target Cuomo, whom they called "Governor 1 Percent," because of his refusal to extend a temporary tax on the rich that is set to expire December 31st, despite widespread support for keeping the tax in place.
We are seeing the inception of a global insurrection that will not end until the dominant system is overthrown and replaced through a planetary metamorphosis. The mainstream media continues to play down the Occupy phenomenon, critiquing its lack of specific demands. Specific demands are pointless, because the entire political, social, and economic system in which we exist has rotted out from the inside. Demands would suggest that there is a way to reform the present system, but no reformist initiative is possible.
The Occupy Wall Street movement has struck a powerful chord among millions of people throughout the United States and internationally. At the center of this growing movement, which has spread to hundreds of cities, is deep-rooted opposition to the immense social inequality that is the dominant feature of American and world society.
Only time will tell what a growing global social movement can muster, but the energy is discernible and the momentum remains in favor of a new kind of change. That's the word going out - politely - on the Web to rally street protests on Saturday around the globe from New Zealand to Alaska via London, Frankfurt, Washington and, of course, New York, where the past month's Occupy Wall Street movement has inspired a worldwide yell of anger at banks and financiers.
The brave protesters stationed at Zuccotti Park, renamed Liberty Plaza, have inspired people across the nation and the world to take a stand against Wall St. excesses and demand a more equitable economic and political system for the 99%, not just the 1%.
High banking fees are just the tip of the iceberg. Here's what went wrong with the banking industry and what we can do about it. Some folks have responded to Bank of America's announcement of a new $5 per month fee on debit cards with a glib, "If you don't like it, just pick another bank. It's a free market, baby!" They say that competition will punish BofA for its evil ways.
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