Friday, August 26, 2016
“The Financial Rape Of The Middle Class By Congress, Corporate America And The Fed Exposed In One Simple Chart”
“The Financial Rape Of The Middle Class By Congress,
Corporate America And The Fed Exposed In One Simple Chart”
by Thad Beversdorf
“I like to say policy objectives are invisible ink and policy results are the colored glasses that expose them. You see, policy makers always tell us how they design and implement policies targeted at middle class America. However, time after time after time, the only segment of society that fails to realize any benefit from any policy is middle class America. Yet for some mind boggling reason we continue to allow these policy makers to carry on with this skullduggery. The following chart really tells you everything you need to know about economic policy objectives for the past three decades:
Click image for larger size.
The above chart depicts Wall Street real profits (black line), non-financial corporate real profits (red line) and real median weekly wages and salaries (blue line) all indexed back to 1982 (this is an important period where antitrust policies broke down under the Reagan admin).
What we find is that while median wages and salaries have increased by a paltry 9% over the past 35 years, corporate income is up 250% and Wall Street income is up almost 800%. And so over the decades this story line about policies targeting the middle class is absolutely, in every way, a total and complete fabrication. (Oh, their policies deliberately targeted the Middle Class alright- CP) This chart doesn’t happen by accident nor could it be the result of honest mistakes.
The above results expose the hidden agenda perpetrated by Congress, Corporate America, and the Fed. The American middle class is a patsy in a system designed to do exactly what it has done. International trade agreements and excessive money printing do help Wall Street and Corporate America but do not help the middle class. This is made absolutely clear in the above chart. And if you are one of those typically shallow regurgitators of the theories you’ve been told, well tell it to the facts above.”
“3 Former U.S. Treasury Secretaries Laugh About Income Inequality”
“Three of the world's richest and most powerful people (and Timothy Geithner) had a good laugh over income inequality last year. Former Treasury Secretaries Robert Rubin, Henry Paulson and Geithner were asked about the issue by Facebook executive Sheryl Sandberg during a conference in Beverly Hills. When Paulson responded that he'd been working on income inequality since his days at Goldman Sachs, Geithner quipped, "In which direction?" "You were increasing it!" cracked Rubin, as everyone on stage roared with laughter.
That's Henry Paulson on the left yucking it up about how he screwed the American middle class. Hank Paulson made $500 million for Goldman Sachs before going to work at the Treasury Department under George W. Bush, where he coordinated the bailout of Wall Street banks in 2008.
“it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.” - Hank Paulson, July 20, 2008
On the right is Robert Rubin, who made $120 million working at Citicorp (for just 14 months) after being Treasury Secretary under President Clinton, where he helped tear down Glass-Steagall and almost all financial regulation, including deregulating derivatives. Rubin previously worked at Goldman Sachs for 26 years. Rubin was pictured with Alan Greenspan and Larry Summers as The Three Marketeers in 1999.
Not pictured is Timothy Geithner, who served as president of the Federal Reserve Bank of New York (where he worked to reduce the capital requirements for banks) before he succeeded Paulson as Treasury secretary under President Barack Obama. Geithner completed the bailout of AIG and the Wall Street banks, including a leading role in pushing through TARP, before taking a high-paying job at the private equity firm Warburg Pincus.
The woman asking the question that got so many laughs is Facebook executive Sheryl Sandberg, who previously worked for Treasury Secretary Larry Summers. Sandberg is worth an estimated $1.2 Billion. The conference was put on by former junk-bond kingpin Michael Milken, who served prison time in the 1990s for securities and tax scams.”