ARE THE AMERICAN PEOPLE BEING FOOLED?

[Thats my opinion]

One of the inherent problems for all of us who engage in trying to interpret the signs of the time, is the temptation to think we know more about a highly technical subject than we do. No matter how much research I think I do, often I realize that I have made only the slightest scratch on the surface of what I need to know. I am reminded that for every complex problem there is a simple solution---which is probably wrong! For some time I ended these columns with the tag, “but that’s just my opinion,” indicating a hesitancy to pontificate. But that line got misinterpreted so I ceased using it.

One of the areas about which I have too little knowledge is the whole field of economics. I am currently doing a study on “money,” and at this point I’m not even sure how it ought to be defined. Is it credit, debt, official pieces of paper or metal objects, conch shells, wooden sticks, tulip bulbs? Who decides what money is or how to judge its value? Is there anything behind the paper I have in my wallet other than my faith in the government?

There are a few things, however, which are beginning to come clear. It is increasingly obvious that in this nation the control of wealth is gushing toward the top. Money is being redistributed all right—those who have it are getting more and those who don’t have it are getting less. Consider the following statistics reported by the Federal Reserve—the private big bank controlled Corporation which decides how much money is in circulation.

The wealthiest 1% of all Americans now own over one-third of the nation’s wealth, and their share grows every year. The poorest 50% own just about 2% of the nation’s wealth—and their share declines every year. The wealthiest 1% therefore own a bigger piece of the pie than the poorest 90%. These elite folks also own two-thirds of the nation’s business assets. The wealthiest 5% own 94% of the value of the nation’s bonds and 80% of the nation’s stocks.

It gets worse. Forbes Magazine reported that from 1994-1997 the wealth of the 400 richest Americans grew by an average of $940 million each, for an increase of $1.3 million every day for every person in this elite group! In 2010 25 hedge fund operators pocketed a total of $22 billion on which they paid the absurd tax rate of 15%. John Paulson earned $4.5 billion---without producing a thing! Much of this gain can be accounted for by the Bush tax reduction for the very rich. How did they earn this money? By living in and benefiting from America. And now Congressman Ryan and the Republicans want to make these cuts permanent. Furthermore the Ryan plan to reduce the national debt includes doing away with all inheritance taxes while even further lowering the tax rates on the wealthy and eliminating taxes on capital gains, most of which are held by America’s plutocracy.

You don’t need to be a PhD in economics or a rocket scientist to realize that the corporate power which controls American politics has designed the program to further enrich the rich at the expense of the poor. And it is increasingly clear to anyone who looks at the Ryan proposals that the real purpose is not just to reduce the debt and erase yearly deficits, but also to gut the safety net which guarantees some level of protection for the left out. What is under attack is education, health care, Medicare, and eventually Social Security.

I am continually amazed that the American people not lucky or sufficiently gifted to be part of that one percent, including most Tea Party advocates, are not outraged. How is it they have been fooled into believing that the creation of an American plutocracy at the expense of everyone else is just fine? Sooner or later I believe the average Joe and Jane will realize how badly they have been fooled. When that happens my guess is there will be a massive political explosion which may not even be a good thing for the plutocrats.
Charles Bayer
[e-mail]

[virgogal]

1. In other words,"The rich get richer and the poor get poorer".

[Citizen Worker]

2. The problem with Joe and Jane isn't one of apathy but rather Joe and Jane expect to wake up one

morning and find themselves in the top 1%. That's part and parcel of the Horatio Alger myth that keeps Joe and Jane floating in dream land knowing with absolute certainty that they too will one day be filthy rich and want to keep it for themselves. How else to explain Joe and Jane's complicity in the 30 year long theft of the public treasury?

[OwnedByFerrets]

6. OR, it might be that we don't know just WHAT to do...

we thought we were on the right track after the election in 2008, but sadly that hasn't gotten us any closer to stemming the inequity.

[zalinda]

11. I'm really tired of the whole 'think they'll be rich' meme

The ONLY reason that the repub poor support tax cuts for the rich, is because they have been told for the last 30 years that the rich are the ones that create jobs. Otherwise, why would they support tax cuts for corporations. They do not think that they will be wealthy, but they hope that they could get a good paying job.

It is the same reason why 60% of teens think it's okay to torture. Say it enough times and people will believe it.

zalinda

[Thats my opinion]

13. Joe and Jane

While they may have the illusion they will end up in the 1%, they also believe that the the 1% will land them a job as money comes trickling down.

[bertman]

3. If they aren't talking about this on Dancin' With the Stars or some nightly sitcom

it ain't likely that the "average Joe and Jane" will ever realize how badly they've been fooled.

Don't hold your breath.

But thanks for an excellent and informative post, Thats my opinion.

REC.

[patrice]

4. Right! You don't need to be a rocket scientist! And it's a very interesting subject.

One of the interesting things about the "gushing" you mention is that the thing that causes money to move away from the bottom of the hierarchy, the "fault" with the have-nots and the reason, therefore, that they ARE have-nots is DEBT and DEBT is the SAME reason that the haves have. Their asset is that they have the most of nothing, they have more debt, so they control the money flow. It flows toward that polarity. Your problem is that you do not control enough debt. And their advantage is that they DO control enough debt to be in a position so as to command the supply of debt for everyone else.

[Thats my opinion]

14. debt

Ellen Brown makes the same point. Debt is money!

[patrice]

5. Welcome to DU! I hope to see you around, That's my opinon!

:hi:

[txlibdem]

7. people not lucky or sufficiently gifted to be part of that one percent

It doesn't take luck, nor skill, nor great intelligence. The only way to make it to the top of the heap is to be a sociopath and destroy as many lives as you can during your vicious climb to the top. Steal, lie, con, cheat, don't pay your fair share of taxes, and steal some more. That is how you get to be a millionaire and above.

The richer you are, the more of a sociopath you are in order to make it there. No other way.

[goodnews]

8. Here's a lengthy video on the subject: "The Money Masters"

The Money Masters - Full

209 min - Jan 3, 2011 -
THE MONEY MASTERS is a NON-FICTION, historical documentary that traces the origins of the political power structure. The modern ...
www.youtube.com/watch?v=JXt1cayx0hs

I don't agree with all of it, but a lot of it I do. Some versions are broken down into about 22 sections around 10 minutes a section.

[BobbyBoring]

9. SHIT

I thought this was going to be another Osama/Obama thread!

J/K

I don't know if this has been mentioned to you, but it's a REALLY BAD IDEA to post your email address here

[Thats my opinion]

15. e-mail address

Good advice. Thanks.

[MedicalAdmin]

10. And on that day I have a list of those whose heads I plan on piking.

DO you have a little list? Who, in your opinion, is deserving of Dr. Guillotines little invention?

[jtuck004]

12. I don't think so.

To say they were\are fooled would mean to me that they have actively engaged in a course of action based on information that was presented in such a way as to mislead "us". I don't see that. I do see apathy and ignorance. I see adults who think their education ended when they graduated from high school or college, who think "learning" now only counts when it advances them in their job. They are just freakin' oblivious to the rampant collusion in the transfer of wealth to a few, and what it is doing to the country around them.

From the middle of your writing "...it is increasingly clear to anyone who looks..." - they don't look. Between our phones, tv, and the internet tubes info about greed supplemented by government policy is all around us. You would expect people to be talking about it in fast food restaurants. But, surprisingly, no.

Since about 1980 we have been living on the wealth that others built, (not intentionally, but the pursuit of short-term profit, the deletion of tens of millions of jobs that paid well and encouraged other small business to form, the increase in housing that masked our lack of wealth creation - all without even a nod to the good we were doing by investing in ourselves and the country. Now nearly 40% of the working population is paid too little to save anything for retirement.

Funny, this talk about getting people into the streets. What gets people out? Basketball and football in some local areas, the killing of international terrorists - both examples of frat parties. I don't see any serious "consciousness raising" going on, as done in the 50's and 60's. I don't know what it would look like today, but people, adults, need to be ready to learn, and they are not. Without that many people just go to work and come home, parroting something that appeals to them via sex, money, selfishness, whatever - never questioning the layers they add to support what they want to believe.

Until we address that I don't see anything but mobs in the streets.

(and Welcome ;) )

[Thats my opinion]

16. are they fooled?

Stupidity and being fooled are two sides of the same coin. Thanks!

[Quantess]

17. Very well written!

I like to say that the tea baggers, collectively, have the cognitive skills of a chicken.

[Doctor_J]

18. You're overconfident

In order for a political awakening to take place, an overhaul (or overthrow) of the media will have to be made. IMO once that is done, democracy may be restored fairly simply. But I don't think that's coming any time soon. As long as the teabaggers like being slaves, and as long as we're content to think that signing useless petitions and standing in the snow holding signs while fascism rolls in constitutes "resistance", the plutocrats have absolutely nothing to fear.