Submitted by Thad Beversdorf via First Rebuttal blog,
I was shocked today by the absolute gaul of the Fed releasing a statement about Net Worth in America reaching record levels. Now I get that they are under extreme pressure to sell the story that everything is rainbows and butterflies. But surely they understand that working class Americans are going along with the story because they really don’t have any say in our nation’s policies anymore. That doesn’t mean they want it thrown in their faces that the Fed has spent 6 years now inflating the wealth of the top 10% so much that it actually lifts the total wealth of the nation’s citizens to record highs.
The ugly reality is that the bottom 80% of Americans experienced none of that gain. That’s right a big ole goose egg. And so when the Fed via its ass pamper boy, Steve Liesman, start banging on about the fact that some sliver of society is being handed extraordinary wealth while the working class has lost 40% of their net worth since 2007, well a big fuck you right back at ya bub! The Fed is very aware that the bottom 80% of Americans own less than 5% of US equity markets. And so the Fed is very aware that its manipulation of stock prices such that it creates immense unearned wealth to those in the markets doesn’t reach the bottom 80%. So why celebrate the results of the stock market price manipulation??
It is embarrassing that our policymakers are either that inconsiderate or that stupid to celebrate such a brutal dislocation between the haves and have nots. I don’t know what one can even say about the Fed making a celebratory statement like that today. It is somewhat beyond words. And really paints the picture as to how little thought goes into the lives and well being of the bottom 80%.
Just to give you something to compare and contrast the situation of the bottom 80% here in the US to counter the Fed’s celebration today. I want you to think about how lucky we are not being in one of the PIIGS nations of Europe. These are the nations that are essentially bankrupt and just hanging on by the kindness of the Troika. Glad we’re not there right?? Well allow me to show you a chart published by CNN Money some 8 months ago.
So there it is. While the average net worth of Americans is 4th in the world pulled up by the top 10%, the median net worth of Americans comes in the 19th spot. Yep, behind Spain, Italy and Ireland so 3 of the 5 PIIGS nations. Meaning the bottom 80% in these broke ass barely hanging on nations have more wealth than the bottom 80% of us here in America.
So I’d like to ask the Fed, is it that you just hate the working class here in America and thus like to torment them or are you truly that stuck up your own asses that you just cannot see the light? Celebrating the fact you did today is downright nasty you lowlife scoundrel pieces of shit. It’s akin to a family showing off and celebrating a new born baby at the funeral of another family’s child. It is just a very ugly thing to do. Even if it wasn’t meant to be malicious it looks very much like a giant FU.
And for Americans, why, please god tell me why is it that Americans are so willing to be shit on for so long without so much as a hint of standing up to these monsters that steal our wealth and pass it around their political class. Having grown up in Canada while all of my relatives were here in the US I was intrigued by the States. I used to think of Americans as an incredibly admirable people. The type of people that are confident, strong, intelligent and command respect. I really truly did. But having lived here now since 2001, what I see is a people that have rolled over on our backs. As long as we get a few belly rubs once in a while we’re happy to live without a hint of respect. We seem fine with being demeaned, controlled, robbed, enslaved and yes shit on by our political ‘superiors’.
Is the real Giant Con the ideal American? Was it just a made up concept sent out to the rest of the world in hopes we could instill a fear simply by portraying the notion of a truly formidable American? I really don’t have the answer. Perhaps at some point in time Americans really were a force to be reckoned with. And if that is the case then what a sad story to be told to the world 100 years from now. How a nation got fat, lazy, complacent, perhaps stupid and definitely lost all sense of self esteem.
Imagine the founding fathers looking down on all of this. Hell imagine those who fought on the beaches of Normandy looking down at what America has become. Knowing that they sacrificed everything just to hand the nation over to a group of foreign sociopaths. Imagine those men having to see that Americans no longer have any sense of dignity other than to yell loudly that “we are still great” kind of like that drunk in the corner that wants to fight everyone but can’t seem to find his legs to even stand up from his stool. How incredibly disheartening it would be for those WWII soldiers to see us now.
We have become nothing but a host to a group of political parasites that have thrived on our wealth and our strength. And they’ve watched us slowly die over time growing weaker and weaker. Less able to find the strength to uphold the duties entrusted to us. God, what a sad fucking story we are. Thanks Steve Liesman for rubbing shit in our eyes today. Hope you got a few clicks.
And for those of you that think I’m an ass for being so harsh on us, well stuff it. Get up off your stool you lazy drunk, shut your damn mouth and start fighting these political parasites like a damn man, like a damn American. I’m not the one stealing your retirement, stealing your income, stealing your wealth and stealing your freedom all while making myself wealthy and exonerated from all the laws that would put your ass in prison. In short I ain’t your enemy. If you’re mad by what I said then do something more constructive than calling me an asshole. Capiche?? Good.
Great post! Thx Admin. And remember, what you see & hear in the daily news is a sideshow. The real action is behind the scenes with plans like the TPP, or bills that must be passed to see what it contains. Secret shit like the FCC’s ruling on policing the ‘net. It should be obvious to a moron that we no longer live in a democracy and voting doesn’t accomplish shit.
That Fed stat is propaganda because numerous charts at Google Images show that the net worth of groups of Americans (by age or by educational level etc) all show a steep decline in net worth since 2008.
Australia keeps looking better and better. Number 1 and 2 on that chart.
At this point, if your net worth is in positive territory, you’re probably in the top 10%.
As the article points out, Americans just keep taking it and taking it. My theory is that the vast majority are lazy simpletons who like a soylent green diet of endless tv, idiot phones, etc. and as long as this party continues nothing will change. Have you ever had your car repaired at a Firestone or similar shop and the tv is on Judge Judy and the folks are just memerized by it. It is quite unsettling. This is actually quite a complex scenario as I really think that Americans know things are getting worse yet very few do anything about it. I’m not even sure there is a correct answer as to why only conjecture.
And the mode would be where am at -$30K, which is an advance for me since my house value went up.
The author has done an excellent job of reporting the ugly facts. The US economy is turning into a dried out husk.
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While I totally agree our government, seems a joke to even call it that anymore, is crushing us and that a huge section of the FSA doesn’t give a damn as long as the checks keep coming, pray tell…what would you have us do? How do we fight this? Elections aren’t working, we have no rebellious leader to lead, hopes that the military will stage a coup isn’t happening either. While
While we do have a whole bunch of smart people telling us how stupid and lazy we are, not one of them presents a solution.
Re: MantuaMom: “While we do have a whole bunch of smart people telling us how stupid and lazy we are, not one of them presents a solution.”
Telling people to drag the parasites out of their homes at three AM and hack them into pieces on their front lawn might be viewed in a negative light.
Dutch,
Many many Australians have 500,000/750,000 A/dollars in their pension fund. Not uncommon.
TPB,
If you are not in the 90/ 98 % your standard of living is not that great. Holy shit, this is depressing. When they say most Americans are only two paychecks from being homeless, I guess it is a fact.
Westcoaster said:
” It should be obvious to a moron that we no longer live in a democracy and voting doesn’t accomplish shit.”
Shhh………don’t tell Sensetti. Hims still a belieber!
Listen to a Russian KGB Defector Explain Obama’s End Game. Hope this goes through so everyone can listen-He starts out by Demoralize population takes 15 to 20 years.Start crisis,Destabilize.The end game is mass murder by gov..The people they used will no longer matter and they will know too much-Bankers suicided?
Mantua Mom – There is no workable solution.
The solutions that exist and are debated are not enough to effectively change society. They are not big enough, thorough enough, broad enough, deep enough, inclusive enough or “fair” enough to make a difference.
In 2012, 46,000,000 people here in the USA received $82,500,000,000 in food stamps. January 2015 64,000,000 people received $813,551,000,000 in social security and/or disability payments. The food stampers cannot revolt, they’ll starve after the first weeks, and the geriatric set is too far past fighting prime for revolution. Plus, revolutions curtail rather than entail benefits, and free medical is a benefit I’m entitled to by God, revolution or no. Not to mention free porn, blue pills, beer and LaZBoy. Bottom line – half your fellow citizens like the way things are.
So, there will be no help, no solution, no revolution, no virtuous social impulse to deliver us gloriously through these tumultuous times to that far shore of stability, happiness and free health care. There is only the grind of the here and now, knowing we HAD the greatest system the world had ever known, imperfect though it was, as are we all imperfect. It was still the greatest system providing the greatest good for the greatest number ever before in human history. And through complacency and other predictable foibles of humanity’s cyclicality, chronicled here on TBP as The Fourth Turning, our backs are firmly against the wall. No place to run, hardly, no place to hide, no hope of beating back the irresistible force of modern progressives secure in their unique ability to impart their knowledge upon us, mild bruising notwithstanding, in order to form a more perfect union.
Making friends with muzzies is part of the new perfect order and by golly that is the one part that seems to be gaining traction. Regrettably, the traction is most felt at the point where our heads connect to our shoulders. Equally regrettably is the fact that once the camel’s nose of muslim immigration is under the tent of Western Civilization, the camel feels completely at home and soon takes over the entire tent, which is where we are now. Too polite to kick them out, we’ve invited them into our highest offices of political power and they, in turn, have invited more of their camel-nosed friends in as well. This is known historically as cultural suicide which is where I leave you this evening.
P.S. The military won’t render “aid” to civil society through a coup of any description so forget that. Our military has become a proving ground for the MIC and a testing ground for every social justice angle to be hatched by our political elites. You have to have serious officer corp harmony in the flag ranks to make promotion today and individual thinking is not considered harmonious. These guys have 6 figure salaries and pensions at risk, with free medical benefits for life. They ARE the elite.
PPS An armed revolt against a duly elected federal government in America is far outside the range of probabilities precisely because of the robustness of governance here, with check and balance feedback loops from local and state to federal levels. A breakdown of that system to the extent that armed force was necessary to either restore or replace civil government would necessarily mean all hell had broken loose, our lives would be in chaos, our safety and security at risk and the rule of law upended by martial law. As bad as things are now, as much as we complain, those things are worse. Talking about fighting and dying is much less gritty and grimy than fighting, and dying.
http://video.vietfan.org/obamas-end-game-revealed-by-kgb-communist-obama-socialist-marxist-leninist/X0l6M1Zqb0hYTEE.html Hope this works-KGB agent is spot on
One day, I’m thinking all is lost. The next, I’m thinking the good guys must prevail, after all this is still America. And we are armed and half the country is royally pissed off, so something is going to happen, for better or worse. Then I’m reading WW3 is on the way and nukes will be flying around any day now. Maybe the solution is to throw up ours hands and all hail Comrade Putin, please welcome to the White House. Or not.
I think I’ll just toss back another 2 or 3 shots of this fine homemade cherry moonshine and let tomorrow worry about itself.
Fuuuuuuuuuuuuuck! It’s not about the elected officials, it’s about the people on the ground. To put a local militia together you must have a group of people with a common set of values and beliefs. All my Conservative friends are bound together with an absolute common belief that progressive Liberals are the enemy. I know its TPTB that are pulling the strings, most don’t, but when this thing breaks bad I’d rather have Conservative thinking gun owners at my back VS a bunch of tree huggin, global warming, Al Sharton worshipers. What says you?
I’ll stand with Tom Cotton and Rand Paul until the ship sinks.
Two guys on the right are on my team.
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Free Shitters should be required to file taxes and have the value of public largess imputed to them as income. Some might hit $76,000 when you count Section 8, Food Stamps, Cash payments, free utilities, SSDisability payments, Medical equipment; hoverounds, Free Medical Insurance, Prescriptions and Medical Ganja, tax refunds for Children..
Statistics are, of course, bullshit. Australia only looks good on that chart because our housing bubble hasn’t burst yet. Median house price in Sydney is gust a whisker off a million dollars….you reckon they’re worth it ?
Baz – same thing in Canada. When our housing bubble bursts, down we go! Same with Britain.
Baz,
“gust a whsker off a million A/D”. Love it, it would take me a year living in Australia to understand what the hell you are telling me.
There are too many useful idiots living in the US to turn things around at this point. Half the country still likes that lying liar, BHO, and they will be happy to vote for Hillary, the self serving mistress of lying. The useful idiots think the free market is the problem, even though the government has eliminated the free market. You’re on the USS Titanic, folks, and it already hit the iceberg. The Republicans won’t save you, either. They are a bunch of spineless morons. Remember during the 2008 campaign when John McCain said we had nothing to fear from an Obama presidency. Let’s not even mention CryBoehner.
Ferguson, MO is a view of the future. Whitey isn’t going to be shown any kindness for trying to help out those unfortunate minorities. After the police are restrained from fighting back, the Fergusonites make it clear that they have no interest in racial equity.
The FSA is overwhelming the system, long ago planned as part of the socialist Cloward-Piven strategy. Obamacare is a big part of that, as are student loan defaults.
There is a radio show featuring Ric Edelman (“The Truth About Money” book author), and he was spouting this net worth Fed report today. Telling everyone what a great thing it is that companies are buying back their own stock and the stock market is where everyone should put their money. I hate that guy–turned it off after about 5 minutes.
Without this blog/website and some truth-telling YouTubes, even less people would be able to find out what’s really happening with regard to their finances. Until the new FCC “net neutrality” rules shut us down.
Seems that the fix is in for the majority of us.
Rise Up. The fix was in when the Fed was created in 1913. Much financial corruption before then but the Federal Reserve Act made it official.
The two worst entities in the world are the BIS and the Fed. The Rich control and exploit everyone else. But the worst part is that most either don’t care because they are either incapable of being informed or if they intentionally ignore what’s going on because they have so much time and effort invested in jobs, marriages, homes, and their expectations for retirement.
Ignorance is always bliss until economic collapse – probably sooner than later.