Michael Perelman, author of Railroading Economics: The Creation of the Free Market Mythology. Perelman said, “Free market ideology is just another way of saying we believe in class warfare against the poor”.

Wall Street bonuses for 2009 topped $20 billion – source New York State’s comptroller.

Whether we needed to give all that 7 trillion to the banks or not the fact still remains we could have done much better. This crisis presented a wonderful opportunity to reign in the wanton abuses of such banks and institutions.

According to Rayhuram Rajan, finance professor at the University Of Chicago Booth School Of Business lists some things that should have been done in this bailout time for the banks (my suggestions are in italics).

·        Cut cash compensations

·        Make derivatives illegal

·        Shut off and stop dividends

·        Eliminate hedge funds

·        Make the banks pay for losses on certain debt contracts

·        Make the bailed out banks and so called institutions pay for their recapitalization over time

·        Taxpayers should enjoy some interest by adding that interest to the Treasury as well

·        Also include improved regulations and bring back all the old regulations since they won’t regulate themselves.

·        This would discourage Wall Street from relying on more bailouts in the future.

Let us not forget this salient fact in countries with 50% and higher taxes on the rich there no bank failures and no boom and bust cycles.

America imports 397 million dollars of goods from other countries for every 1 dollar of export.

I was shocked the other day when talking to an individual as he related his personal fear of protectionism. When the issue came up he began to parrot what the media had taught him since the days of daddy Bush. He went on about how if we protected our jobs that that would cause a trade war and a trade war would destroy the economy.

I had to get it through to him that since daddy Bush and Clinton’s NAFTA we have been in a trade war and ever since invoking those failed trade agreements we’ve been losing it. Never believe any politician when they mimic the anti-protection credo. Don’t they sound like mind controlled dummies? They never can think of putting it in their own words, that’s because you aren’t hearing their own thoughts, so we get the canned speech given to the bought and paid for politician from propaganda central.

In summary anti-protection policy destroys the economic base of the nation by at least encouraging or at most forcing corporations to throw workers into the street condemning them to crushing poverty, disease and eventually death by moving to countries such as China, India, etc. where wages, benefits and environmental controls are low and or non-existent. This policy treats the USA as a colony, with low wages and where product is made there and shipped here.

This is among the 4 biggest issues of our time those being 1. Bringing back a strong manufacturing base with good paying jobs. 2. Health care. 3. Re-regulating the airline industry to bring back good paying jobs there. 4. Immigration control.

These are the huge issues that have not gotten the proper attention or debate first in the congress then among the people. We need to fundamentally change these 4 policies so that we can rebuild the base of our culture and economy with good paying jobs here. We must free ourselves and protect our society from the executive excess, profiteering and administrative waste the nation has suffered since 1980, if we fail in this we the middle class shall be crucified on a cross of greed.

1.     Bailouts still won’t work because they didn’t bring back the jobs to support an economy.

2.     Tent cities are springing up.

3.     Supply economics is not the mother of invention.

4.     We are seeing the facist take over of the United States. When corporate power is merged with government power that’s fascism.

5.     Hypocrisy; both democrats and republicans are hypocrites. They cheer their guy even though he does the same thing as the guy on the other side did.

6.     Farmers cannot get their price to break even. Many have decided to not plant this year as well as last year, this is another reason food prices have gone up.

7.     Tax revolts may be in the future because the parasite politicians are raising taxes to heights more than people can afford to pay. The people cannot support the lavish lifestyles and corruption of these politicians.

8.     Crimes like bank robbery will be on the rise.

9.     More and more people are getting it as failed policies continue to eat out the people’s sustenance and job loss continues.

10. I saw the fascism coming 20 years ago, now the middle class and upper middle class is seeing it happen to them.

11. Through the new Financial Accounting Standards Board the evil banksters are now allowed to set monetary values to their toxic assets, this means that whatever garbage they have on their books the bankers can assign whatever price they want as an assessment value. If the so called asset has been devalued down 90% the banksters can assign the value back to 100%, and that’s legalized fraud. This will result in the banks able to report huge earnings, it’s the same as assessing a house a higher value than it actually is. The truth is being hidden in order to report this phony standard. Banks that should be going under will be reporting profits. I saw this game in 1990 with the stock market as it was not allowed to correct itself naturally.

12. We are in the position we’re in because companies and banks and Wall St. have not been allowed to fail.

13. Meanwhile the hypocrisy of the Obama family continues. For example the Obama’s are growing an organic garden. The message is we the Obama family can eat organic while you the common rabble are forced fed chemicals, GMO corn, MSG and the like. Not a word is said about cleaning up the Monsanto toxic food supply and having organic food at price people can afford.

14. To big to fail? Where did the AIG money go? Well here is another truth of how the banks are robbing us blind. For example about 50 billion that went to foreign banks like Deutsche Bank. 12 billion went to Deutsche Bank who has assets of 2.5 trillion. The bank didn’t need the money. The scam was put in place only to make the rich richer and allow CEO’s to steal even more money, thereby adding even more to their immorality.

The attack on human dignity has now become the culture of the airlines because of airline deregulation. There has not been a clear raise in pay or increase in benefits since 1980 when the Act was signed. Because of this manipulation of morality the average ground crew employee has lost $60,000.00 of their pay since 1980.

Once again this is the something for nothing lie from the government. There is no such thing as a $400.00 ticket to the West Coast. When the customer buys that ticket the true cost is approximately $2,000. The customer pays $400.00 and the airline employees have $1600.00 deducted from their checks collectively through concessions.

Since the airlines practice as a collective is that not socialism in the communist sense of the word? That’s an example of the Republican and Democratic parties’ beginning with the Regan brand of gangster capitalism. The only difference is that true communists get the money from the government and this brand steals it from its employees by withholding their proper due.
Just how is it that since in my memory alone which takes us back to 1976 this industry recognized as the airlines have had this constant lament that they just cannot survive without money from the employees check and concessions of benefits. This bewailing went on steroids when airline deregulation was passed. This they call a successful business model? Yes successful for senior management with their 1 million dollar salaries, but devastating for the employees trying to survive on a 1994 paycheck. Actually it’s worse than that because in 1994 overtime was worth more and holidays paid more, at least enough to stay closer to the cost of living.

I am currently looking for a similar business where I don’t have to pay the employees the cost of living and the employees pay my bills while I take fat bonuses for myself at their expense. So fat it seems only the airlines get away with this because they’re protected by the governments deregulation Act. It really is quite a scam if one works it well and this current batch do work it well.

I would never do this, I’m not a roach but I give this example to make the point.
They used to offer a raise as long as it was lower than the cost of inflation. For example there was a six year contract with a 1% raise each year. Therefore in 6 years a raise of 6% was given, however during those 6 years inflation went up 24% resulting in an 18% lower standard of living.

These days no raise is even offered at all. The employees are now expected to survive at a 1994 pay standard with lower overtime rates less vacation and much higher health care costs. No hourly raise is offered because the management does not want to add a few pennies to what’s left of those with pensions. The overall plan is to have people worked to death with underwater wages, no benefits and no quality of life.

Yes the attack on human dignity is now in earnest. Why this is important to you is because it first happens in the airlines then spreads to your workplace, this is a simple observation of recent history. It will stop when the people stand up and demand government put the leash back on corporations.

The aim is to create a two tiered lower class a small middle class to rule the lower class, and upper class and elite class. The corporate future plan will be a self regulated slave camps. This then is the pyramidal structure they have designed for our future. Each airline is now a self scavenging basket case the model for the future of the Western world.

At a hearing February 11, 2010 Sen. James Inhofe told EPA head Lisa Jackson man induced climate change was a hoax, concocted by ideologically motivated researchers who cooked the science.

Even more than that (it is now shown) Sen. Inhofe questioning the science used to support cap and trade hinted such activists may be part of a vast criminal enterprise designed to bilk governments, taxpayers and investors enriching those making the false claims.

Inhofe called for Al Gore to be summoned to defend his earlier testimony in light of the “climategate” e-mail scandal and admissions by the IPCC that its fourth assessment was essentially a work of fiction.

Meanwhile the congress will be bogged down in the topic of a trillion dollar health care mega-bill their creating with all kinds of side deals, threats of imprisonment, rationing, etc.

Now look at the current jobless report. The one thing Americans want from the congress is to bring back the policies that created and protected the middle class, they want good paying jobs! They want the congress to repeal the failed policies that have created the mess the country is in financially. The number of new claims for unemployment insurance jumped last week to 22,000 for a seasonal adjusted 496,000. Once again we are told economists were expecting unemployment to drop but we know unemployment can’t drop and will continue to go up because of the failed policies of 30 years of Reganomics, Milton Freedman, Von Misis, the Chicago Boys, the Austrian school, etc. The congress fiddles while the United States burns, decays and continues to degenerate.

In the latest Rasmussen poll 71% of Americans disapproved of the current congress. That is the highest disapproval rating in the history of the republic and for good reason. 75% of Americans polled said they are angry about what’s going on in WashingtonDC.

Hopefully there are enough people ready to dump these clowns in their privileged congress who live a lifestyle we can only dream of. They who have the best health care at our expense while taking money from corporations with the promise to sell us out; and they do.

The bankers and real estate brokers, etc. who are at the top of the food chain of criminals have been fleecing the public with immoral schemes for years and are still doing it. So lets take a peek at how and why their getting away with financial murder. The why is money that answered let’s look at the how.

Con #1
Let’s say you are a sociopath with a criminal mind and you are using a politic, banking or real estate position as a front. In this example you’re a banker. You buy off congressmen to eliminate the laws that make what you’re about to do illegal, don’t worry about real estate personal their greed will get them on board. With your mugs in line all that’s left is to employ the steps.
1. Create sub prime toxic loans. The real estate crony will need a mirror for this. Take a hand mirror and put it under the nose of the loan applicant if the mirror fogs up he approves the loan.
2. Package these no pay dangerous loans with quality securities and sell them as AAA; get paid ridiculously high commissions on this. Later to make it look better include good loans in the package. Sell the packages to securities buyers all over the world.
3. Corrupt the securities agencies to certify the junk paper is good. You can do this because you’re a banker at a big casino bank such as Goldman Sachs.
4. Buy bets (insure the packages) at AIG insurance that the loans will fail.
5. When they fail create a run on AIG putting AIG in a liquidly crisis.
6. Go to the government.
7. Instead of having AIG pay the claim at 50% force AIG into bankruptcy and get a bailout from the government at 100% of the claim.

Con #2
Now you proceed to the second part of the plan. This fraud and theft is so open you can foreclose on people who pay their mortgages on time along with those who cannot. Banks such as CITI, Wells Fargo and Bank of America, have their own mortgage-servicing arms; others contract with companies that handle the day-to-day business of collecting payments, managing paperwork, and initiating foreclosures.
1. Have these arms start loosing the payments that the homeowner pays. Hike mortgage payments without fair notice, force homeowners to buy unnecessary insurance, and intentionally process payments late. Easy money in this and a lot of it.
2. Charge massive fees without telling them. Start foreclosure proceedings. Let the process continue; by the time the homeowner finds out usually the Sheriff is at the door. The homeowner will soon find out there is no law protecting them from this.
3. Watch the foreclosure mills spring up.
4. Clean up with healthy fees paid to you from foreclosures. The Federal Trade Commission (FTC), Office of the Comptroller of the Currency, and Office of Thrift Supervision also have limited oversight over the mortgage industry. Remember as a servicer subsidiary you’re covered by JP Morgan who has created another company to contract with you. While you defraud the U.S.A. these agencies will do nothing and if JP Morgan is sued they pay a little million dollar fine and the fraud plan continues. All a homeowner can do is sue and few have money or knowledge to do that. Men are dying from hart attacks but you feel their pain all the way to the bank.
What to do?
* Class action suits are springing up against mortgage companies.
* Go to Startpage.com and type in Resources for Dealing With Mortgage Servicers it’s an article from Mother Jones Magazine.
* File a law suit.

This is just another occasion of how the finance oligarchs have taken over the government and eliminated any justice the people rightfully claim. Currently the country is wide open to these outlaws. Isn’t deregulation great?

In Illinois their calling it doomsday, that being the current economic condition the corrupt government has put the state in. These insincere and dishonest politicians drunk on spending have created a 13 billion dollar debt and what have we the people to show for it? Broken roads, impossibly high taxes, broken laws, broken government. In addition to that Illinois spends a documented 4 billion per year for illegal aliens including medical care; Chicago’s mayor has declared Chicago a sanctuary city, state workers and other state paid employees many of whom are double dippers meaning two pensions and or two jobs that the person may or may not attend.

This debt is putting the honest taxpayer into a tax-slave class to contemptible politicians and bureaucrats.

Will these government hacks go after the political deadwood, the pals, the public sector union contracts, the law firms and connected who have their downtown skyscraper taxes passed down to the beleaguered homeowner who is told he must pay not only his tax but the tax of the rich as well. Yet not one overpaid, overpensioned hack will be laid off, or wage/pension or pensions cut.

Unelected governor Pat Quinn’s answer (and supported by the state legislature) is just raise taxes another 60% on working people making 44k per year, but don’t lay off one bureaucrat or cut the waste. They are nothing but parasites from top to bottom and I do mean bottom. United Van Lines data shows that 57.2% of moves related to Illinois were outbound – making Illinois the sixth highest outbound state of a national cumulative migration index.

Since running honest people out of the state is now the policy of state government I’ll be putting the sign on my lawn just as soon as I can see my way out as well.

Since the beginning of the country until the late 1800s corporations were responsible to the people and the people’s watchdog was the government. Back then corporations had to prove to be operating for the public good if not they would be fined, and or have to operate under new laws that corrected the problem or the corporation was dissolved. If a corporation had not completed its mission in 40 years it was dissolved and its assets were sold. Now the shareholders could restart the company but remember this was a time when companies were mostly single mission and not perpetual, that was left to the mom and pop businesses.

In time came Standard Oil and Rockefeller who was cited by the State of Ohio for monopolizing the oil industry using unethical practices. At that time all the states had laws that required corporations to comply with written ethical principals. Rockefeller’s response to Ohio was to say to all the other states, who will have me? That meant who will allow me to operate unethically against other companies and I will give you plenty of money. Upon hearing this states one by one started falling over themselves stripping all the laws opposing the practices of unmitigated greed.

The state governments said we’ll sell our souls and take your blood money. The criminal had just become the watchdogs’ new master. Thus began what is known as the charter mongering laws era. The last state to eliminate such a fine law was Wisconsin in the 1950’s.

Fast forward to Ronald Regan in 1980, with Regan the corporatists took power and repealed the laws that protected society. As the laws restraining greed disappeared the corporate monster grew and the society began a race to the bottom. Since the last two years of Carter irresponsible behavior among the wealthy is running rampant as in the health insurance industry, airlines and many other companies who now freely take the money they should be paying to their employees pocket it for themselves; the result being we have reentered the robber baron era and with the devolution of the congress and Supreme Court et al America is turning into a fascist state.

All this however can be turned back when the people have had enough starting with campaign finance reform. We can start making laws to force overpaid greedy executive employees of corporations to show good order. A CEO should be barred from making more than 30% more than the lowest paid employee. Anyone making more than 12 million per year should be taxed at 92%, Eisenhower did it and it helped build a thriving middle class.

Bernie Sanders said, “We spend an incredible 350 billion dollars a year almost a billion dollars a day buying oil from Saudi Arabia, Iraq, from Venezuela, from countries all over the world. If we just took a fraction of that money and invested it in this country making us energy independent moving us to energy efficiency we could use less energy than we used to. We have to invest in sustainable energy, wind, solar, geothermal, biomass.”

Very good Bernie you’re on the right track except you forgot the most important form of energy for our future; that is clear clean free energy! Imagine the explosion of invention and the advancement of new products if we had free energy engines. This will really provide sustainable good paying jobs if the government trashes the current failed system and protects the inventors as it used to protect the air industry.

Here are some of the effects of the global plantation:

* The United States has the highest poverty rate of the industrial world.
* 5% of the people have no health care.
* 1 of 4 people filed for bankruptcy.
* It is estimated that 15 million people will file foreclosure by 2014, most of these will be single parents; a word to the wise.
* Since Bill Clinton signed NAFTA in 1994 3 million have become homeless.
* Thanks to the influx of illegal aliens 7,000 per 100,000 persons are in prison.
* Americans have lost 5 trillion in savings.
* 13 trillion has been lost in home values.
* 25% to 50% has been lost in working people’s 401k pension plans for those averaging 20 years on the job.

Now there are new hurdles to overcome as if a good person hasn’t enough stress to contend with for example, your credit falls because of no fault of your own, you need a job to pay the bills and repair your credit but you can’t get a job because your credit is bad. Years ago that would not happen. 16 states have proposed outlawing this catch 22 practice, here, here! Such a practice is appropriate only on certain jobs such as handling money, jewels or sensitive materials.
As in the case of Illinois more problems have been caused for the people because politicians have not attended to the fundamentals of an economy.

Here is a list compiled by Mish Shedlock of what’s happening in Illinois today…

* Illinois is paying bills with vouchers.
* Libraries are closing at 1 per day.
* Schools are owed 725 million dollars.
* In Alexander County the sheriff’s patrol cars have all been reposed. ¾ of officers have been laid off and the local prison has refused to take County inmates until the state pays its debts.
* This is happening to many states such as Florida, New Jersey, Arizona, Michigan, etc.

Thank God for Mayor Don Robards in Cayuga Falls, Ohio who has said we need to eliminate public sector unions. (See my video on this). Too often the politicians are in league with the unions and there is nobody that represents the people who are made to pay for lavish paychecks and pensions from their meager and diminishing earnings.

The standoff between the taxpayers and the politicians has begun; some few politicians are joining a growing movement to stand up to state corruption in an attempt to bring relief to their public. The public sector union’s wages and pensions are bankrupting the state.

We must acknowledge Governor Chris Christie of New Jersey for saying the same thing. How about this for a news release;

“Trenton, NJ – Today Governor Chris Christie signed an Executive Order creating a New Jersey Privatization Task Force to develop recommendations for a comprehensive approach to converting certain areas of government operations to privately-run operations in an effort to cut the size and cost of state government.
Facing state employee contracts entered into by the prior administration that include raises of between 7 percent and 11 percent for thousands of public employees in 2011, Governor Christie said he must do all that is necessary to blunt those poorly conceived and ill-timed contractual obligations that will now heavily burden budgets for Fiscal 2011 and Fiscal 2012.”
“We are stuck with this problem, but that does not mean I am barred from finding a way to fix it,” said Governor Christie. “I don’t think you will find private sector employees anywhere enjoying the luxury of an 11 percent raise next year. It was a promise that the state cannot afford and should never have been made in the first place.”
The task force was created to examine areas where government services and functions can be provided by the private sector.
He has covered the bases as well;

Among other things, the Task Force will look at issues, including:
* Which government functions are or may be appropriate for privatization;
* Current legal and practical impediments to privatization; and
* Ensure that scope and quality of services is not inappropriately diminished by privatization.

Point #3 is something Illinois government would never think or care to do. Let this prove I am not against politicians I only want competent people to do their job and no longer be held hostage at the hands of crooks.