Pay Attention! Reasons Why The Middle Class Is So Screwed

On 12/21/08 I wrote “Are We As Dumb As Our Elected Officials?” about the Bailout $$ and the $$ the Fed has loaned to banks to the tune of 2 Trillion.  A commenter (H/T to Kat In Your Hat) over at Puma Pac dropped some info about the following video….so, of course I went looking and found another interesting video to add to your knowledge of why the middle class is so strapped.

John Stossel has done a “Give Me A Break” segment on the disappearing bailout cash and also the trillions being loaned by the Fed that will not be spoken of.   Please be aware that the Chair of the Congressional Oversight Panel, Elizabeth Warren is NOT a moron; for some reason 20/20 has decided to make her look like one.  Also, please be aware that I am still researching the next series of articles, but every time I think I am starting to get a handle on the subject, another tentacle appears that I have to run down…

I decided to do some digging and found this UCBerkeley on YouTube. This video is very long, but well worth watching. Once Ms. Warren starts speaking about why the middle class is collapsing, you may not be able to stop watching.  Pay Attention!; and if you have children, know someone who has children, are planning on having children; DOUBLEY-SO!

The Collapse Of The Middle Class:

10 Responses to “Pay Attention! Reasons Why The Middle Class Is So Screwed”
  1. If the banking industry exists strictly to dole out money and charge interest, then it becomes inevitable that consumerville will one day become overstuffed with debt.

    Interest free paydowns of all non-secured debt is both humane and gives everybody a “do over” while actually re-igniting the world’s economic engine by creating REAL cash flow in the economy, rather than the made up one the bailout continues to prop up.

    Once consumer debt has been reduced, new guidelines should be put in place in which the monthly minimum payments on unsecured debt is raised by a factor of three or four times the current amount. This one act would result in consumers paying more towards principle and less towards interest every month. This slows down growth but also makes all growth more legitimate.

    These are dangerous times because all bankers at the federal reserve trough want to do is figure out how to cram more debt down the throat of the consumer, that is the only way they seem to know how to operate, and it is the wrong approach.

  2. cats says:

    Thank you for posting the Elizabeth Warren presentation at Berkeley. My husband and I watched it all the way through because she was so clearly articulating what has happened to the middle class in this country. We have been fed a lot of “bulls**t” in this country about the current economic crisis. Banks, The Health Industry, and the larger business owners have been squeezing us for a long time and then blaming us for our inability control our spending and to save for emergencies. What a joke and the joke was on us.

  3. Diamond Tiger says:

    Cats – you are very welcome – thanks for watching it and educating yourself.

    More to come!

  4. The Federal Reserve

    This is my article regarding the Federal Reserve. It’s short, but to the point. The is information that needs to be posted:

    In order to understand the FED (Federal Reserve) system, one must know at least some of its history. The concept of the Federal Reserve has its roots in Imperial England. It is known as the Bank of England. In 1066 AD, King William founded the English monarchy. A year later, in 1067, he created what is known as “The Corporation”. The purpose was to, “facilitate trade, and assure the continuation of the wealth of the monarchy” official name of “The Corporation” is The Corporation of the City of London. The City of London maintains privileges (political and economic), that greater London or Britain does not. It even has its own police force.

    The United States has a similar private bank called the Federal Reserve (FED). There are 12 banks that make up the FED. Those 12 banks are controlled by the Bank of England (Rothschilds) and the London banking houses through their holding of bank stock. There is NO oversight of the FED. No one can purchase stock in the FED. The FED is NOT part of the U.S. government; it’s PRIVATE.

    The FED creates money out of nothing (Fiat Currency) , i.e. it has no intrinsict value, as the gold standard ceased to exist in 1971. It loans money to the federal government and charges the government interest, even though the U.S. Constitution states, in part, under Article I, Section 8, the U.S. government has the authority, “to coin money and to regulate the value thereof…”. However, starting in 1910, the U.S. government began its journey in the loss of its ownership and control of its currency, when a group of private bankers met in secret on Jykelll Island, Georgia, to plot to create a private banking system called the Federal Reserve.

    In 1913 those bankers finally had their way. They did this through Senator Nelson Aldrich (Rockefellar grandfather), who pushed the Federal Reserve Act through Congress just before Christmas when much of Congress was on Christmas holiday. On December 23, 1913, President Woodrow Wilson signed the Act into law. After the fact he stated, “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

    On June 4, 1963, President Kennedy signed Executive Order 11110 Its authority was to strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. On November 22, 1963, President Kennedy was assassinated. Was that why Kennedy was assisinated? I can’t say for sure, but I would say it’s a good possibility.

    Finally, the creation of money out of nothing destroys the purchasing power of the dollar. You see it happening now, all over the globe. As the supply of money surpasses goods and services it results in inflation and eventually hyperinflation. One has only to know what happened in 1923 to the Weimar Republic, Germany, to know what hyperinflation can do to an economy. We are headed there now.The reason the FED exists today is because the American people know NOTHING about it. If they did, they would rise up, and revolt.

    I believe that banking institutions are more dangerous to our liberties than standing armies.

    ~ Thomas Jefferson

  5. Sorry, Thomas Jefferson’s quote should have been in quotations. It is in italics on the PumaLiberty website.

  6. Diamond Tiger says:

    Ginny – you are getting ahead of the Monster! 🙂

    I will be using some of this in the upcoming series!

    Many Mahalos!!!!

  7. Diamond Tiger:

    Regarding Evelyn De Rothschild, is he a family member of the Rothschild Bank of London? If he is, then he is part of the banking cartel, i.e. the Federal Reserve. In which case, we shouldn’t give a hoot about what he thinks.

  8. Excellent video. Ms. Warren brings up some very surprising numbers (although I suspected one of the culprits was medical, and I don’t think she dug into that nugget deeply enough – elder care, rise in prescription drugs, rise in cancer, etc.).

    It was long, but you were right; once she started I couldn’t stop.


    I suspect you are correct about the Fed and Kennedy. He pissed off some very powerful people!

  9. Are there other people out there like me, i.e. pretty much consumed by what is happening to the global economy? My family is getting tired of hearing my doom and gloom talk. Are they just not wanting to face the facts because to do so would be denying that they could lose everything? Is it all too much to wrap their brains around? It’s hard for me to not think about this stuff. If I’m going to be prepared for hardship, don’t I have to think about this? How do I have a happy and positive outlook when my country is heading for depression?

  10. Ginny,

    No, it’s not just you. People have their heads in the sand about the economy, the truth about Barack Obama, and where the world is going (ie: in the toilet). I too am amazed at the casual attitude many people have about today’s world, but by and large I think it’s starting to sink in a little bit. Just keep doing what you need to look out for yourself and your family. That’s all you can do. That and keep coming here to keep your sanity!

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  • Thomas Jefferson

    "On every question of construction carry ourselves back to the time when the Constitution was adopted, recollect the spirit manifested in the debates and instead of trying what meaning may be squeezed out of the text or invented against it, conform to the probable one in which it was passed." --Thomas Jefferson, letter to William Johnson, 1823

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