For the past few decades, the rich have run over us all the while claiming class warfare is hurting us. Meanwhile, they steal everything that's not nailed down and then have the gaul to blame us for there being nothing left. We still hear how Fannie May and Freddie Mac gave mortgages to people who couldn't pay and that was why we had such a financial disaster. BULL. The reason for the collapse was the huge rise in stocks and housing, mostly due to unregulated derivatives and credit default swaps. Mortgages were a small part of it yes, but in no means the only or biggest reason. Stocks and housing were overvalued and when those bubbles burst, everyone not paying attention got creamed. The super rich didn't as they fled the stock and housing markets months before they fell. I warned everyone about the housing market and almost got it to the day when things began to fall apart in 2008. One friend who didn't listen, bought his house at peak prices, watched the value plummet and is now in foreclosure. I may not be right all the time, but when I am, it's usually a doozy.
Here's the truth about our financial crisis: WE ARE SO SCREWED. Worse, we have been this way for some time, living off of credit to hide the fact of how bad things really are. We keep hearing how Clinton balanced the budget. He did this by stealing huge sums of money from places like Social Security which one of the reasons it is broke now. This is money we as a people put in for us and our elders and the government went on a wild spending spree with it. Mind you, if I had a choice I'd rather have Clinton in office still rather than the last two lame ducks we had. He may be a slimy douchbag but at least he knew how to sell it. Romney comes across like a bad used car salesman and Obama as a bored professor.
We keep hearing we are around $16 trillion in debt. We are actually closer to $200 trillion in debt if we factor in future liabilities like SS, Medicare, military expenses and the like over a ten year period. What this means is that whoever wins, this is the amount of debt we can expect to see. As neither side is willing to make any changes to the wealthy while driving European austerity, that will never fix the problem, our way, the future is none too bright.
The worst part about this is, as I have suggested in previous posts, I believe some of the ultra rich out there are actually much richer than they are telling us. We know somewhere between $18 and $300 trillion are being stored in off shore accounts. We know the government gave $16 trillion out in bank loans to God knows who. We know $3.2 trillion, possibly as much as $9 trillion, went missing from the Pentagon just before 9/11. Tell me that money couldn't go to fixing EVERYTHING wrong with this country. For those who like to say if we took all the rich people's money, it would only fund the government for a second and a half, look at those above number and say the same. If we confiscated all of that money, not only would we have enough to pay of the debt, but we could refund hundreds of thousands of dollars to every eligible man and women in America.
I would like to add that I do not believe for one second that Mitt Romney is only worth $250 million. As we all know he has plenty of money in off shore accounts and can afford to pay accountants millions to hide the rest, I would be willing to be he is worth far north of several billion. While I do not believe he is a trillionaire by any means, his net worth is also not what he is telling us and may be the main reason his tax return have not seen the light of day.
We do not know the value of these people because it is impossible to gain an accurate estimate of someone who is very wealthy due to the fact they use complex ways of hiding it. Shell companies, off shore accounts, electronic banking and other factors make it not possible to follow the money. Someone could be worth ten trillion dollars and only claim to be worth $2 billion. Who would know. Not the IRS who lack the money or manpower to go after such an individual. Not the government who are in cahoots with the super rich. Certainly not someone like me who at best at this point can offer anecdotal evidence for their existence.
Here are three of the families that have been rumored to be worth far more than they are letting on. The Bushes (shocker) $15 trillion, the Rockefellers $11 trillion, the Rothchilds $100 trillion, Queen Elizabeth II $3 trillion. Some of this is kept in the Global Security Fund, a gigantic slush fund, allegedly worth $65 trillion and established in the same way as the BCCC scandal. There is no independent way to verify whether these allegations are true or not but they certainly aren't out the path of reason either.
If this is true, the global elite have been stealing from us blind and then blaming us for all the problems when they themselves caused it. These groups have almost certainly been in power for centuries and are a secret shadow government that may control huge aspects of all global issues. There may come a time, and soon, when they realize they don't need all of us anymore and that's when the bombs will start falling as they hide in luxury bunkers.
We still have some power among us but that is rapidly disappearing thanks to idiots like the Tea Party who seem to want a fascist state in which women are property again, black people are slaves and the rich can do as they wish consequences be damned. Not only do we have to vote democrats into power, but once in there, demand they start listening to us or else. We are running out of time before a prison planet is a reality and by then, it will be far too late to do anything.
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