Controlling the wealth of America – top 1 percent control 83 percent of U.S. stocks. As a share of personal income mortgage debt ate up 19 percent in 1949. In 2003 it went up to 85 percent. 80 percent of Americans 65 years and older depend on Social Security for half of their income.
Mayer Rothschild was quoted as saying “give me the power of the money and it will not matter any more who is commanding.” Today Wall Street is in full command of our government. The impact of massive lobbying has guaranteed that many of our politicians are bought off and are serving as serfs to their [...]
Middle class shuffle – how the banking system has given the illusion of prosperity with debt serfdom to working and middle class Americans. $14 billion in consumer credit yanked from the system last month.
A cold bucket of water was thrown on many middle class Americans when the consumer credit figures for May were released. Analysts were expecting an increase of $1 billion but instead over $14 billion in consumer credit was yanked from the system. You would think that a growing and healthy economy would require more credit [...]
Stock market plunge erased 9 months of a rally in a few minutes. On the same day too big to fail amendment shot down by Senate.
It is amazing what occurred yesterday. The media gave such a historical event little play. In the matter of a few minutes the Dow plunged nearly 1,000 points erasing 9 months of stock gains ($500 billion in U.S. stock market wealth). Stocks around the world also sold off on the event since many were left [...]