Tuesday, March 7, 2017
Let's All Take Our Heads Out of the Sand and Stop Drinking the...
Edward Bernays style Propaganda Kool Aid. In addition to the National Debt numbers, the online "U.S. National Debt Clock" (in real time) has a wealth of other information. [A small portion of it is listed below.] As opposed to what Janet Yellen and many politicians are saying, that info gives us a genuine dose of reality...instead of propaganda.
Since the end (sometime in the early 1960's) of the Golden Age of American Capitalism, here's what Republican & Democratic politicians, the Fed Reserve, Financialization, Globalization (of a certain type), Crony Capitalism, and Corporatism have all brought us to---
1. Our public National Debt is almost $20 trillion. [We are now among the world's top debtor nations.]
2. U.S. Total Debt (public & private) is now a bit over $67 trillion.
3. 42.6 million Americans are living in poverty.
4. 31.4 million Americans are without insurance (the Debt Clock doesn't specify whether that's health insurance or all types of insurance).
5. The U.S. Gross Domestic Product (GDP) is about one trillion dollars less than the public National Debt.
6. The Median Income in the U.S. is now $30,123.
7. The Median New Home Price in the U.S. is now $311,015.
8. The "Official Unemployed" number is 7.616 million.
9. The "Actual Unemployed" number is 14.949 million.
All the above is only a tiny fraction of the valuable info found on the Debt Clock.
Glenn Greenwald, who was on a Team that shared a Pulitzer Prize, has pointed out that the Financial Sector in the USA essentially has captured our government. Financialization and the revolving door between Mega Banks and high Gov't positions have contributed greatly to the hollowing out of the Middle Class in this Land. We now have a President & Executive Branch Administration who want to roll back the paltry regulatory protections of Dodd-Frank, thus giving the Financial Sector even more freedom to practice Casino Capitalism... which will further put our financial and economic systems at risk.
The rationalization for such action is that jobs will be created. History says otherwise. Starting with the elimination of the Glass-Steagall Act during the Bill Clinton Era and right through to the lack of prosecution of crooked bankers during the Obama Era, it's clear that: banking needs strict regulation (enforcement and prosecution); and the Mega Banks need to be broken up. Casino Capitalism does not create jobs for the Lower & Middle Classes; it simply enriches the Super-Rich. That's what Trump is pushing/peddling.
Not only my opinion. Be Well