Hank Paulson, the Gold Sacks bankster/US Treasury Secretary, who deregulated the financial system, caused a world crisis that wrecked the prospects of foreign banks and governments, caused millions of Americans to lose retirement savings, homes, and jobs, and left taxpayers burdened with multi-trillions of dollars of new US debt, is still not in jail. He is writing in the New York Times urging that the mess he caused be fixed by taking away from working Americans the Social Security and Medicare for which they have paid in earmarked taxes all their working lives.
Wall Street’s approach to the poor has always been to drive them deeper into the ground.
As there is no money to be made from the poor, Wall Street fleeces them by yanking away their entitlements. It has always been thus. During the Reagan administration, Wall Street decided to boost the values of its bond and stock portfolios by using Social Security revenues to lower budget deficits. Wall Street figured that lower deficits would mean lower interest rates and higher bond and stock prices.
Two Wall Street henchmen, Alan Greenspan and David Stockman, set up the Social Security raid in this way: The Carter administration had put Social Security in the black for the foreseeable future by establishing a schedule for future Social Security payroll tax increases. Greenspan and Stockman conspired to phase in the payroll tax increases earlier than was needed in order to gain surplus Social Security revenues that could be used to finance other government spending, thus reducing the budget deficit. They sold it to President Reagan as “putting Social Security on a sound basis.”
Along the way Americans were told that the surplus revenues were going into a special Social Security trust fund at the U.S. Treasury. But what is in the fund is Treasury IOUs for the spent revenues. When the “trust funds” are needed to pay Social Security benefits, the Treasury will have to sell more debt in order to redeem the IOUs.
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Republicans have extraordinary animosity toward the poor. In an effort to talk retirees out of their support systems, Republicans frequently describe Social Security as a Ponzi scheme and “unsustainable.” They ought to know. The phony trust fund, which they set up to hide the fact that Wall Street and the Pentagon are running off with Social Security revenues, is a Ponzi scheme. Social Security itself has been with us since the 1930s and has yet to wreck our lives and budget. But it only took Hank Paulson’s derivative Ponzi scheme and its bailout a few years to inflict irreparable damage on our lives and budget.
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Obama Giving Black Farmers $1.25B in Reparations
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For those who ever had or still have a lot of money know and meet many brown nosers.
ReplyDeleteTo have and keep power is to create stimulus and bailout packages.
To create more money, a health care and global climate change tax will be good.
Now one can get lots of brown-nosers on the pay roll by spreading the wealth around to a select group of yeah sayers
Do we really care about Woody with his golf stick. It's the money he makes for the PGA, golf courses, and sellers of any product. Poor guy must have a brown nose complex by now, feeling really lonely. I pick up a hobby like …sex, maybe.
I can't believe that article about the reparations. NO, I am not racist, YES I think it's bullshit.
ReplyDeleteThen we had better give some to all the migrants who suffered during WWII as well, where the fuck do you draw the line? This is absolute bullshit.
This is just one more thing that will make it worse for the blacks, since there will be much hatred again from programs like this one.
I was thinking about donating money to this site but after the article about medicare ponzi scheme was posted with no disclaimer about calling republicans haters of the poor, it appears I won't be. I am not a republican (a libertarian) but to have such a one sided lame untruthful attack article makes me question the agenda of thissite.
ReplyDeleteReparations and the confiscation of 401K/ IRA's will be where the line is drawn!
ReplyDelete10:07 you had no intention of donating any money to anyone. Who were you kidding? The republicans did what they did. Call them whatever you want. FACTS ARE FACTS. You are a troll.
ReplyDeleteThis article is full of holes:
ReplyDelete1. It was Robert Rubin, Larry Summers and Phil gramm that permitted Banking deregulation.
2. It was Lyndon Johnson that plundered SS for his Guns and Butter programs.
3. All Greenspan did was increase th Payroll tax because at the time, SS was giving out more money than the fund was taking in.
4. SS has always been a Ponzi scheme.
What about reperations for my family that came from finland, and were made to work 18 hours a day in a german owned minining town. They got a paycheck to pay the rent to the company owned homes, bought groceries from a company owned store were not allowed to purchase any land and got beaty if they tried to leave town in the late 1800s early 1900s and got beaten for organizing unions. Is this not a sort of enslavement. When all there bill were paid to the company town they had nothing left. My family never cried like babies, just moved on to the big cities and bettered them self and there childrens education. Thankgod my ancestors were not cry babies. I would be living in the ghetto like a nigger feeling sorry for myself. They are still a bunch of squirrels trying to get a nut but to stupuid to fighure it out. This kind of shit makes people more racist. time will tell where you will you end up and in time all your money will be gone and you will still be poor and black unfortunately.
ReplyDelete10:17 very good point
ReplyDeleteMy ancestors were raped and piligaed by the english wheres my money
ReplyDeleteExcuse me Mr. Jim Crow, but those farmers should have gotten more for what they went throught at the hands of the Dept. of Argiculture. It was a lawsuit that they won in court not reparations. Do your research.
ReplyDelete10:07 take everything you read with a grain of salt. Just because republicans are bashed one minute, doesn't mean democrats get a free pass. That's coming from former republican who now hates both.
ReplyDeleteChief witchdoctor Obama will serve his constituency (black/muslim), by projecting two faces, and covering his tracks; And jewish media and finance will help him do it. Both are raping the American middle class.
ReplyDelete2:32 Timothy P say it ain't so!
ReplyDeleteNo No No
I really love all these lovey dovey double speaking intellectuals these days. You cannot get a straight thought or answer out of anybody about nuthin'.
So to you 2;32 I salute - straightforward and to the friggin' point ( and correct )
This country is on it's knees - at the death kneel we will finally figure out that we had one class of people carrying 10 others on it's back.
Well; I am a racist and I'm here to say that it was a sad fuckin' day when the white man was stupid enough to import the black buggers.
ReplyDeleteThe black man in America has cost this country Quadrillions in reparations and we the middle class will pay for it either forever or until
we are all destitute.
It is high time people in this country call a spade a spade but we are so busy telling our troops to ask 3 important questions before engaging and sending welfare checks ( 3rd generation to guess who ) and supporting gay rights ( go to hell ) and trying to convict a
passenger on an airplane with a pocket knife then removing known terrorists from well established maximium security to " walk about camps in your back yard" that we cannot focus
on this issue.
Send them BACK to Kenya every fuckin' one of 'em
we will be sooooo much the better for it
We can't call spades, spades, because the Politically Correct thought police have all but made it illegal. Try being un-PC in the office and someone finds out, out you go. Unless you're one of the "elite" troublemakers, you need a job and in the precarious economic situation you're in you aren't going to mess with the PC powers that be. Let Them Eat Cake (bought with food stamps) they say. We're nothing but cattle to these people.
ReplyDeleteI don't owe a single cent to any black person. I never beat one or stole from one or deprived any one of them from accomplishing anything in life. I have never oppressed any black person in any way, shape, or form. I owe them nothing. Yes this could make cause racism to become bad. It wouldn't be the first time the government caused hate towards blacks.
ReplyDeleteYeah - but I guarantee you it's the first friggin' time the president has handed out 1.3 Billion fuckin' dollars to ---------------
ReplyDelete70,000 black farmers
You gotta be kiddin' me - fuck man we ain't got 70,000 farmers left even if you count 'po white trash
The big prize ? this sonofabitch is gonna get slave reparations for every black prick that was EVER born on american soil.
We are so fucked we cannot even begin to know how hard
Cannot even begin
Wonder what the Native Americans will be getting?
ReplyDeletenative americans already have their indian casinos, they are taken care of already and they have lobbiests in dc
ReplyDeleteThere are so many predatory fish in our aquarium that is a wonder that any of us(me, included) survive at all, but the one we must not do, and continue in mass to do, is bemoan our fate and nothing else....
ReplyDeletePOLITICIANS!..So you like boondoggle..starting with(for convienance) the grat wall of China.
1)Dam the Straits og Gilbralta...lots of employment and an end benefit of lots of clean power, and helping to clean up innumerable cites on the perifery o f the mediteranian.
1b..the Dardenelles...etc.
2)build the mediterian/Jordan river tunnel, more jobs, building instead of fighing and terrorist bombings..in bennit, energy and benefical local climate change.
3)AMERICA...BUILD POWERSAT Put it in an equaturial synchronis orbit clean power ..shadow reducing global warming...est.000i% or so...humble begining of a Dyson Shield
4)Shale, let the oil companies profit some more...benefits are jobs and polital
5)Do the MAGNETOHYDRODYNAMICS THING...56%X12%...Deal with the Nimbys.