The Root of Rising Inequality: Our “Lawnmower” Economy (hint: we’re the lawn)

STRAIGHT LINE LOGIC

In a global economy in which debt is the foundation (see Debtonomics Archive), it should come as no surprise that debt merchants have done better than most. It should also come as no surprise when myriad debt bubbles eventually pop and the global economy is put through the wringer. From Charles Hugh Smith at oftwominds.com:

This predatory exploitation is only possible if the central bank and state have partnered with financial Elites.

After decades of denial, the mainstream has finally conceded that rising income and wealth inequality is a problem–not just economically, but politically, for as we all know wealth buys political influence/favors, and as we’ll see below, the federal government enables and enforces most of the skims and scams that have made the rich richer and everyone else poorer.

Here’s the problem in graphic form: from 1947 to 1979, the family income of the top 1% actually expanded…

View original post 154 more words

Planting the Seeds for a Cashless Society…

Happy Birthday to the Federal Income Tax | Peter Schiff

Celebrating 100 years of your being duped by the central banksters and their crony government.

Unbanking vs. Underbanking: How to Break Up with the Financial System | The Organic Prepper

Breaking up is hard to do, especially when it is with a tracking service like a financial institution.  Sometimes you can make a clean break and other times you have to remain “just friends”.

The US government actually has a name for people who have no bank accounts – they call these folks “the unbanked”.  The FDIC defines the unbanked as “those without an account at a bank or other financial institution and are considered to be outside the mainstream for one reason or another.”  Another term is “the underbanked” – “people or businesses that have poor access to mainstream financial services normally offered by retail banks. The underbanked can be characterized by a strong reliance on non-traditional forms of finance and micro-finance often associated with disadvantaged and the poor, such as check cashers, loan sharks and pawnbrokers.”

Separation | Ol’ Remus & The Woodpile Report for 2/26/13

DC has always been distant from the people. Apart from the IRS and the draft, they were “the other” we read about in the papers, running gangsters and spies to ground, getting the interstate built, fighting wars and generally looking out for the Little Guy. We believed they were the Big Picture People doing things on the largest scale on behalf of all who worked hard, lived responsibly and stayed right with the law. DC was the captain and crew of our mighty ship, alert and sure, cutting cleanly through heavy seas and turgid morass alike, while their grateful passengers shuddered at the hardship and horrors beyond the delights of the endless buffet on the promenade deck.

A Looming Tax Grab Will Also Have A Significant Impact On Middle-Class Americans | IBD

Imagine if your taxes tripled — literally overnight.

The so-called Bush tax cuts are set to expire at the end of the year. That means that all of the current income tax rates will rise to pre-2001 levels overnight. The lowest rate will jump from 10% to 15% and the highest from 35% to 39.6%. Although Congress extended all of the cuts at the end of last year, some Democrats have pledged to let the tax cuts expire for the “rich” — individuals making $200,000, and $250,000 for families.