Monday, July 11, 2011

We're Not Really Broke: Return to Chains (Part 2)

The economy has gotten progressively worse since the first piece in the "Return to Chains" series. Unemployment as reported on Friday increased again, this time to 9.2 percent. Only 18,000 jobs were added to the economy in the month of June. The President delivered a sobering speech from the Rose Garden with the news-ready message, "We've got a long way to go." But as the economy for the majority of us regular working folks has gotten worse, it's gotten progressively better for the economic puppet masters on Wall Street.

U.S. companies have taken in record profits, yet your share in those profits has continued to decrease. "Since the 1980s, income for the richest one percent of Americans has exploded, while hardly budging at all for everyone else." (source) Additionally, your favorite big bank CEO's have seen their pay rise 36 percent according to the Financial times.
"Two of the industry's biggest names - Jamie Dimon, the JPMorgan Chase chief executive, and Goldman Sachs' Lloyd Blankfein - were paid more than 15 times their 2009 earnings. Mr. Dimon received nearly $21m in 2010, topping the FT's survey of the salary and bonus packages awarded to 15 top bankers. Mr. Blankfein earned $14.1m, including a $5.4m cash bonus - up from $863,000 in 2009."
Is your pay rising 36 percent? No. Has your income just continued to explode since the 1980s? No. Instead you're working harder for less and by the time you retire there will be no cushy Social Security check coming in like clockwork which you will still need to subsidize with other income -- hopefully a 401k -- to make ends meet.

These sad facts come at a time when the representatives and leader of this Nation have 9 days left to reach a deal to increase the debt limit or else the U.S.A. defaults on its loans and we see an economic collapse that could make the Great Depression look like a cakewalk; the 14th amendment clause be damned.

During my 11 o'clock newscast last night I was trying to find a good way to get into a piece I was running about the debt talks. I scoured the wires until I came across a quick video of the National Debt Clock in New York. The video was 50 seconds long and uploaded to the CNN video site at 7:30 in the evening. I made my anchor read the full debt of the Nation:
14 trillion, 833 billion, 478 million, 603 thousand, 488 dollars (and counting); so that viewers could grasp how deep this crisis really is. But saying the debt itself is not the worst part of this story. Beneath the National debt there's something that says "Your Family Share." This means for the Nation's budget to be balanced and the debt slate be wiped clean every family in America would have to fork over $125,608.

That's a lot of money. But that was at 7:30 last night. The debt increases every second of every day. That means your family's share increases every second of every day. Just as your wages decrease every second of every day when gas prices inch up, a gallon of milk inches up, a carton of eggs inches up, and even the price of your favorite chocolate candy bar or cup of coffee inches up.

But you know this really isn't a problem. I know you're looking at your computer like "Storyteller you just laid out all the reasons why it is." I know you think I did but I didn't. It just looks bad on the surface. It's not that bad. Even though the National debt is more than 14 trillion dollars, we're really not 14 trillion in the hole. In fact we're not broke at all.

The fact of the matter is, is that the Nation's recovery, economic stability, balanced budget, and power has been hijacked. Just like Islamic extremist hijacked Iran's 1979 revolution and turned the blossoming Persia into a hardline "theocratic democracy;" our recovery has been hijacked by Too Big Too Fail corporations whose bidding is done by our "representatives" in Congress who may not know they are all conspiring to keep their constituents in a hole darker and deeper than Dante's most depraved layer of Hell.
"America's the richest Nation in the World."
We've heard the saying all of our lives and it's always been true. Only now there's an addition:
"America's CEO's are the richest in the World."
At a time where polls shows faith in the President to pull the economy out of its slump is at an all time low and Republican Presidential Candidates continue to question the President, "Where are the jobs," no one is asking the banks, their workers, and especially their CEO's "Where is our money?" No one is asking Government Goldman, "Where is our share of the Wealth?" No one is asking Congress, "Where is our loophole that allows us to avoid high taxes?" No one is asking those sworn to serve the people of the United States, "Don't you think voting on policy that may directly affect company's in your stock portfolio is a conflict of interest that purposefully screws your constituents and serves to line your pockets and that of the company whom you are not sworn under an oath to God to protect? Doesn't that make you unfit to serve U.S.?" (see here)

No one is asking those questions and because no one is asking these questions the fleecing of America within America continues. Conflicts of interests go unnoticed. Wealth gaps widen. Debts rise. National leaders point blame when in the end they may not even care because no matter what the outcome they're safe.

We are not broke. We are still the richest Nation in the world. We just happen to be one rich Nation, whose rich like to play poor, so that debates arise, proposals are made, and the outcomes remain that the rich get richer and corporate profits rise while the poor remain struggling and blind to the crimes against them.

It's time to wake up, open our eyes, and realize the shackles are not closed; we don't have to willingly follow this road of corporate enslavement.

It is indeed a choice.

1. What policy's need to change to reverse course of high corporate profits, high unemployment, and low wages?
2. Do you think Congress will come to an agreement in time to raise the debt ceiling.
3. Do you agree that "we're not really broke?"
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