Farming the Middle Class--how to extract maximum dollars

Here’s an explanation of how our global financial system is set up to extract a maximum amount of money from effective farming of the middle class–guess who benefits:

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Here’s Part 1–a background tutorial:

Note: Part 1 (above) is not a description of the system itself. It is a background tutorial explaining terms such as assets, debt, balance sheets, and money flows that result from how our financial system is set up.

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Results–It’s a great time to be an oligarch!

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Shifting Income Away from the Middle Class–recent results:

The top 1% get almost 90% of the gains during 2002-2007

Out of every $1 in income gain made in the last decade, 65 cents went to the top 1%, while 90% of other folks, the middle class, fought over 12 cents.  The rich have won. (Source)

Shifting Wealth Away from the Middle Class–results: 

• The bottom 40% of US population owns less than 1% of all US wealth.
• The top 20% of US population owns 84% of all US wealth.
  

Source: Michael Norton and Dan Ariely, “Building A Better America–One Wealth Quintile At A Time” (pdf)

• Actual US wealth distribution: shows actual US wealth distribution demographic data.
• Estimated US wealth distribution: shows survey results from asking US citizens to estimate what they think US wealth distribution “actually is”.
• Ideal US wealth distribution: shows survey results from asking US citizens to estimate what they think US wealth distribution “should be”.

Because of their small percentage share of total wealth, both the “4th 20%” value (0.2%) and the “Bottom 20%” value (0.1%) are not visible in the “Actual” distribution.

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Debt Slavery–Got Debt?

Debt is a tool for farming the average American. The trick is to convince the middle class to “freely” choose to embrace debt slavery–media control obviously plays a role.

The following US Wealth Distribution chart is from analysis by Wolff (also see: Wealth, Income, and Power):

Americans have been living a middle-class lifestyle on working-class wages – and bridging the gap with credit. (Source)

Being farmed?:

The politicians are a secondary concern. They serve the will of the bankers. . . . The chief weapon of the bankers is usury. They print non-existent money and then loan it out so that more is paid back in interest over time than the actual principle of the loan. . . . The hidden aristocrats, the ones who own so much of the land and property everywhere are a part of the same predatory crimes against each and every one of us. (Source)

All social inequity and injustice comes out of the machination of bankers. . . . As an individual you should know the present system is your enemy and that it intends to enslave and then destroy you. You should cease to cooperate at every level. (Source)

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Suzi Orman, popular TV financial guru:

“My only fear in life, when it comes to money, is what’s happening in the United States of America.  The American dream is dead for the majority of America.  The middle class has disappeared.  We have a highway to poverty and no roads coming out.”  (Source)

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Dick Durbin, US Senator, says this about Congress, The banks “frankly own the place.” (Source)

See also:

• The Economic Elite Have Engineered an Extraordinary Coup, Threatening the Very Existence of the Middle Class
• Recent Trends in Household Wealth in the United States
• Endless Affirmative Action for the Rich
• Iceland Stands Up to the Banksters, Rejects Their Fraudulent “Austerity” Programs–and survives just fine
• George Carlin: Forget the politicians…
• Goldman Sachs Operatives in Obama Government
• Taibbi’s article–big bankers commit crimes, go unpunished
• The Power To Tax — and the power to issue the currency required to pay that tax
• The Richest 1% — What (Who?) They Own
• The banks “frankly own the place” – Senator Dick Durbin

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Related Articles

• Why Europeans Think We’re Insane (alternet.org)
• It’s The Bankers Or Us (disquietreservations.blogspot.com)
• Rich getting richer while middle class stagnates: Study (thestar.com)