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<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><img width=373 height=49 id=logo
src="cid:image001.jpg@01CD55CC.B179EEE0" alt="FINANCIAL SENSE"
class=print-logo><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>Published on <em><i><font face="Times New Roman">FINANCIAL SENSE</font></i></em>
(<a href="http://www.financialsense.com">http://www.financialsense.com</a>)<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><a href="http://www.financialsense.com/">Home</a> > Who Destroyed
the Middle Class, Part 3<o:p></o:p></span></font></p>
<div class=MsoNormal align=center style='text-align:center'><font size=3
face="Times New Roman"><span style='font-size:12.0pt'>
<hr size=2 width="100%" align=center>
</span></font></div>
<h1><b><font size=6 face="Times New Roman"><span style='font-size:24.0pt'>Who
Destroyed the Middle Class, Part 3<o:p></o:p></span></font></b></h1>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>By <em><i><font face="Times New Roman">James Quinn</font></i></em><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>Created <em><i><font face="Times New Roman">26 Jun 2012</font></i></em><o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>This is
the 3rd and final chapter of my series about the destruction of the middle
class. In <a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-one"
target="_blank"><strong><b><font face="Times New Roman">Part 1</font></b></strong></a>
<span class=print-footnote>[1]</span> of this series I addressed where and how
the net worth of the middle class was stolen. In <a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-2"
target="_blank"><strong><b><font face="Times New Roman">Part 2</font></b></strong></a>
<span class=print-footnote>[2]</span>, I focused on the culprits in this grand
theft and in Part 3, I will try to figure out why they stole your net worth and
what would be required to restore sanity to this world.<o:p></o:p></span></font></p>
<h3><b><font size=4 face="Times New Roman"><span style='font-size:13.5pt'>Dude,
Why Did They Steal My Net Worth?<o:p></o:p></span></font></b></h3>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“I
have no problem with people becoming billionaires—if they got there by
winning a fair race, if their accomplishments merit it, if they pay their fair
share of taxes, and if they don’t corrupt their society. Most of them
became wealthy by being well connected and crooked. And they are creating a
society in which they can commit hugely damaging economic crimes with impunity,
and in which only children of the wealthy have the opportunity to become
successful. That’s what I have a problem with. And I think most people
agree with me." </span></font></i></em>– <strong><b><font
face="Times New Roman">Charles Ferguson</font></b></strong> – <a
href="http://www.amazon.com/exec/obidos/ASIN/030795255X/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">Predator Nation</font></b></strong></a>
<span class=print-footnote>[3]</span><o:p></o:p></p>
<p align=center style='text-align:center'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><img border=0 width=32 height=32 id="_x0000_i1027"
src="cid:image002.gif@01CD55CC.B179EEE0"
alt="Description: http://3.bp.blogspot.com/-jEVYZZScUtw/TuWmEDW3LeI/AAAAAAAAHJc/3nVafP4stjI/s1600/the_frog_and_the_scorpion_tale_619555.jpg"><o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>It is
clear to me that a small cabal of politically connected elites have
purposefully stripped the middle class of their wealth and openly flaunted
their complete disregard for the laws and financial regulations meant to
enforce a fair playing field. Why did they gut the middle class in their
rapacious appetite for riches? Why did the scorpion sting the frog while
crossing the river, dooming them both? It was his nature. The same is true for
the hubristic modern robber barons latched on the backs of the middle class. Their
appetite for ever greater riches will never be mollified. They will always want
more. They promise not to destroy the middle class, as that will surely
extinguish the last hope for a true economic recovery built upon savings,
investment and jobs, but it is their nature to destroy. A card carrying member
of the plutocracy and renowned dog lover, Mitt Romney, revealed a truth not
normally discussed by those running the show:<o:p></o:p></span></font></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“I'm
not concerned about the very poor. We have a safety net there. I'm not concerned
about the very rich, they're doing just fine.”</span></font></i></em><o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>The data
from the Fed report confirms Romney’s assertion. The poorest 20% were the
only household segment that saw an increase in their real median income between
2007 and 2010, while the richest 10% saw only a modest 5% decrease in their
$200,000 plus, annual incomes. Meanwhile the middle class households
experienced a brutal 8% to 9% decline in real income. Table 2 in <a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-2"
target="_blank"><strong><b><font face="Times New Roman">Part 2</font></b></strong></a>
<span class=print-footnote>[2]</span> of this article reveals why the poorest
20% were able to increase their income. Transfer payments (unemployment,
welfare, food stamps, SSDI) increased from 8.6% of their income in 2007 to
11.1% in 2010. Government transfer payments rose from $1.7 trillion in 2007 to
$2.3 trillion today, a 35% increase in five years. I’m sure the bottom
20% are living high on the hog raking in that $13,400 per year. Think about
these facts for just a moment. There are 23 million households in this country
with a median annual household income of $13,400. That means half make less
than that. There are 58 million households that have a median household income
of $45,800, with half making less than that.<o:p></o:p></span></font></p>
<p align=center style='text-align:center'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><img border=0 width=32 height=32 id="_x0000_i1028"
src="cid:image002.gif@01CD55CC.B179EEE0"
alt="Description: http://dkl3fnj1o5loa.cloudfront.net/wp-content/uploads/2012/06/2010-Survey-of-Consumer-Finances-Federal-Reserve-Income-Chart.png"><o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>The
reason Mitt Romney isn’t concerned about the very poor is because his
only interaction with them is when they cut the lawn at one of his six homes.
The truth is the bottom 20% are mostly penned up in our urban ghettos located
in Detroit, Chicago, Philadelphia, NYC, LA, Atlanta, Miami, and the hundreds of
other decaying metropolitan meccas. They generally kill each other and only get
the attention of the top 10% if they dare venture into a white upper class
neighborhood. They are the revenue generators for our corporate prison
industrial complex – one of our few growth industries. They provide much
of the cannon fodder for our military industrial complex. They are kept
ignorant and incapable of critical thought by our Department of Education
controlled public school system. The welfare state is built upon the foundation
of this 20%. It is certainly true that the bottom 30 million households in this
country, from an income standpoint, do receive hundreds of billions in
entitlement transfers, but Table 2 clearly shows that 80% of their income comes
from working. The annual $72 billion cost for the 46 million people on food
stamps pales in comparison to the hundreds of billions being dispensed to the
Wall Street banks by Ben Bernanke and Tim Geithner, and the $1 trillion per
year funneled to the corporate arm dealers in the military industrial complex.
The Wall Street maggots (i.e. J.P. Morgan) crawl around the decaying welfare
corpse, extracting hundreds of millions in fees from the EBT system and the
SNAP program as they encourage higher levels of spending.<o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>This is
all part of the diversion. Forty five years after the War on Poverty began,
there are 49 million Americans living in poverty. That’s a solid good
return on the $16 trillion spent so far. It’s on par with the 16 year
zero percent real return in the stock market. We have produced a vast
underclass of ignorant, uneducated, illiterate, dependent people who have
become a huge voting block for the Democratic Party. Politicians, on the left,
promise more entitlements to these people in order to get elected. Politicians
on the right will not cut the entitlements for fear of being branded as
uncaring. The Republicans agree to keep the welfare state growing and the
Democrats agree to keep the warfare state growing -bipartisanship in all its
glory. And the middle class has been caught in a pincer movement between the
entitlement army and the entitlement corporate army. The oligarchs have been
incredibly effective at using their control of the media, academia and
ideological think tanks to keep the middle class ire focused upon the lower
classes. While the middle class is fixated on people making $13,400 per year,
the ultra-wealthy are bribing politicians to pass laws and create tax
loopholes, netting them billions of ill-gotten loot. These specialists at
Edward Bernays propaganda techniques were actually able to gain overwhelming
support from the middle class for the repeal of estate taxes by rebranding them
“death taxes”, even though the estate tax only impacts 15,000
households out of 117 million households in the <st1:country-region w:st="on"><st1:place
w:st="on">U.S.</st1:place></st1:country-region> The .01% won again.<o:p></o:p></span></font></p>
<p align=center style='text-align:center'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://dkl3fnj1o5loa.cloudfront.net/wp-content/uploads/2012/06/Household-Net-Worth-Survey-of-Consumer-Finances-Federal-Reserve-2010.png"
target="_blank"><span style='text-decoration:none'><img border=0 width=32
height=32 id="_x0000_i1029" src="cid:image002.gif@01CD55CC.B179EEE0"
alt="Description: Household Net Worth Survey of Consumer Finances Federal Reserve 2010"></span></a><span
class=print-footnote>[4]</span><o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>It is
easy to understand how the hard working middle class is so easily manipulated
by the corporate fascists into believing their decades of descent to a lower
and lower standard of living is the result of those at the bottom of the food
chain relying on their welfare entitlements. I drive through the neighborhoods
of <st1:place w:st="on">West Philadelphia</st1:place> every day, inhabited by
the households with a net worth of $8,500 and annual income of $13,400. They inhabit
crumbling hovels worth less than $25,000, along pothole dotted streets strewn
with waste, debris and rubbish. More than half the people in this war zone are
high school dropouts, over 30% are unemployed, and drug dealing is the primary
industry. When a drug dealer becomes too successful and begins to cut into the
profits of the “legitimate” oligarch sanctioned drug industry, he
is thrown into one of our thriving prisons. Marriage is an unknown concept. The
life expectancy of males is far less than 79 years old. But something
doesn’t quite make sense. Every hovel has a Direct TV satellite dish. The
people shuffling around the streets all have expensive cell phones. There are
newer model cars parked on the streets, including a fair number of BMWs, Mercedes,
Cadillac Escalades and Volvos. How can this be when their annual income is
$13,400 and they have $8,500 to their names?<o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>This is
where our friendly neighborhood Wall Street oligarchs enter the picture. These
downtrodden people are not bright. They are easily manipulated and scammed.
They believe driving an expensive car and appearing successful is the same as
being successful. Therefore, they are easily susceptible to being lured into
debt. Millions of these people represented the “subprime” mortgage
borrowers during the housing bubble. The tremendous auto “sales”
being reported by the mainstream media in an effort to boost consumer
confidence about an economic recovery, are being driven by subprime auto loans
from Ally Financial (85% owned by the <st1:country-region w:st="on"><st1:place
w:st="on">U.S.</st1:place></st1:country-region> Treasury/you the taxpayer) and
the other government back stopped Wall Street banks. This is the beauty of
credit. The mega-lenders reap tremendous profits up front, the illusion of
economic progress is created, poor people feel rich for a while, and when it
all blows up at a future date the middle class taxpayer foots the bill. Real
wages for the 99% have been falling for three decades. You make poor people
feel wealthy by providing them easy access to vast quantities of cheap debt.
I’m a big fan of personal responsibility, but who is the real malignant
organism in this relationship? The parasite banker class, like a tick on an old
sleepy hound dog, has been blood sucking the poor and middle class for decades.
They have peddled the debt, kept the poor enslaved, and have used their useful
persons in the media to convince millions of victims to blame each other
through their skillful use of propaganda. They maintain their control by
purposely creating crisis, promoting hysteria, and engineering “solutions”
that leave them with more power and wealth, while stripping the average citizen
of their rights, liberty, freedom and net worth (i.e. Housing Bubble to replace
Internet Bubble, Glass-Steagall repeal, Patriot Act, TARP, NDAA, SOPA). <a
href="http://jessescrossroadscafe.blogspot.com/" target="_blank">Jesse</a> <span
class=print-footnote>[5]</span> cuts to the heart of the matter, revealing the
darker side of our human nature:<o:p></o:p></span></font></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“Sometimes
when faced with problems that are confusing and troubling it is easier to think
what someone tells you to think, particularly something that touches a deep and
dark nerve in your nature, rather than carry the burden and ambiguity of
struggling with the facts and thinking for yourself. Repeating a party line is
a shorthand way of avoiding real thought. And the predators are always there to
take advantage of it. They welcome trouble and often foment crisis in order to
advance their agendas.”</span></font></i></em><o:p></o:p></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“Anyone
can be misled by a clever person, and no one likes to readily admit that they
have been had. It is a sign of character and maturity to realize this, and
admit you were deceived, and to demand change and reform. But some people
cannot do this, even when the facts of the deception are revealed. It seems as
though the more incorrect that the truth shows them to be, the louder and more
strident they become in shouting down and denying the reality of the situation.
And anyone who denies their perspective becomes 'the other,' someone to be
feared and hated, shunned and eliminated, one way or the other.”</span></font></i></em><o:p></o:p></p>
<h3><b><font size=4 face="Times New Roman"><span style='font-size:13.5pt'><br>
Until Debt Do Us Part<o:p></o:p></span></font></b></h3>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>I sense
signs of desperation amongst the plutocracy. Their propaganda machine is
sputtering. Their storylines are growing tired. They have fended off the fury
of the Tea Party movement by successfully high jacking it and neutralizing
their impact under the thumb of the Republican establishment. The oligarchs
called out their armed thugs to crush the OWS rage, while using their media
mouthpieces to misrepresent the true purpose of the movement – Wall
Street greed and criminality with <st1:place w:st="on"><st1:City w:st="on">Washington</st1:City>
<st1:State w:st="on">DC</st1:State></st1:place> collusion. The Savings &
Loan Crisis of the late 1980s resulted in 800 bankers being thrown into prison.
After the greatest banker heist in history, not one banker has been thrown in
jail. Obama and Holder have been neutered by their masters. The power elite openly
brandish their glee at avoiding accountability for their crimes. They are
desperately attempting to re-inflate the debt bubble, as debt is the lifeblood
of these vampire squids. The key piece of their current propaganda campaign is
to convince the people they have effectively deleveraged and their continuing
austerity efforts are actually detrimental to economic recovery. It’s
nothing but a confidence game to keep the Ponzi going. The Ponzi operators want
to extract every last dime from the masses before the engineered collapse. The
data does not confirm the deleveraging narrative. Total credit market debt in
the <st1:country-region w:st="on"><st1:place w:st="on">United States</st1:place></st1:country-region>
is now at an all-time high and stands at 345% of GDP. In 1977 it stood at 155%
of GDP and at 250% in 2000.<o:p></o:p></span></font></p>
<p align=center style='text-align:center'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><img border=0 width=32 height=32 id="_x0000_i1030"
src="cid:image002.gif@01CD55CC.B179EEE0"
alt="Description: http://2.bp.blogspot.com/-opUWcy319ew/T9IdrQkhuHI/AAAAAAAABJI/6DQuKjxRoMw/s1600/Total+Credit+Market+Debt+Outstanding.png"><o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Total
credit market debt is now $4 trillion higher than it was in 2007, prior to the
financial collapse. It has gone up by $1 trillion in the last 12 months. Does
this sound like deleveraging? The chart below details the truth the moneyed
interests don’t want you to understand. The bastions of capitalism on
Wall Street have dumped $3.4 trillion of their toxic debt and $1 trillion of
mortgage and credit card debt onto the backs of middle class taxpayers and
future unborn generations. They did this under the auspices of saving the
economic system. Their sole purpose has been to save themselves from becoming
part of the middle class. The transfer of wealth from the quarry (middle class)
to the predators (moneyed interests) continues unabated.<o:p></o:p></span></font></p>
<p align=center style='text-align:center'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><img border=0 width=32 height=32 id="_x0000_i1031"
src="cid:image002.gif@01CD55CC.B179EEE0"
alt="Description: http://1.bp.blogspot.com/-xNo7Tt6fTA4/T9Ie2HQxIRI/AAAAAAAABJQ/kwEsJAACCFw/s640/Credit+Market+Debt+Outstanding+by+Sector.png"><o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>The faux
journalists in the mainstream media have been pounding the consumer
deleveraging mantra. They babble on about the austere masses methodically
paying down their debts. It’s a specious lie. The chart below shows that
banks have written off $218 billion of credit card debt since 2008. It also
shows outstanding revolving debt falling from $1.01 trillion to $819 billion, a
$191 billion decrease. For the math challenged, like any Wall Street shill
paraded on CNBC, this means consumers have added $27 billion of credit card
debt since 2008. Does that sound like deleveraging? Households have also taken
on $300 billion of additional student loan debt since 2008, buying into the
government sponsored scam to keep the unemployment rate lower by offering the
false hope of jobs with useless on-line degrees from the <st1:place w:st="on"><st1:PlaceType
w:st="on">University</st1:PlaceType> of <st1:PlaceName w:st="on">Phoenix</st1:PlaceName></st1:place>.
Does that sound like deleveraging?<o:p></o:p></span></font></p>
<h3><b><font size=4 face="Times New Roman"><span style='font-size:13.5pt'>Consumer
Credit Card Debt and Charge-off Data (in Billions):<o:p></o:p></span></font></b></h3>
<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Outstanding Revolving Consumer Debt</span></font></b></strong><o:p></o:p></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Outstanding Credit Card Debt</span></font></b></strong><o:p></o:p></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Quarterly Credit Card Charge-Off Rate</span></font></b></strong><o:p></o:p></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Quarterly Credit Card Charge-Off in Dollars</span></font></b></strong><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q1 2012<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$819.4<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$803.0<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>4.37%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$8.8<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>2011<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$864.9<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$847.6<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q4 2011<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$864.9<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$847.6<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>4.53%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$9.6<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q3 2011<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$826.2<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$809.7<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>5.63%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$11.4<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q2 2011<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$819.2<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$802.8<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>5.58%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$11.2<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q1 2011<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$810.7<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$794.4<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>6.96%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$13.8<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>2010<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$857.4<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$840.2<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$77.9<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q4 2010<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$857.4<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$840.2<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>7.70%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$16.2<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q3 2010<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$836.0<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$819.2<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>8.55%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$17.5<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q2 2010<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$847.5<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$830.5<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>10.97%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$22.8<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q1 2010<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$860.3<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$843.1<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>10.16%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$21.4<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>2009<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$921.9<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$903.4<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$85.6<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q4 2009<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$921.9<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$903.4<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>10.12%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$22.8<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q3 2009<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$922.2<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$903.7<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>10.1%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$22.8<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q2 2009<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$933.1<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$914.4<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>9.77%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$22.3<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q1 2009<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$946.1<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$927.2<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>7.62%<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$17.7<o:p></o:p></span></font></p>
</td>
</tr>
<tr>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Q4 2008<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$1,010.3<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>$990.1<o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</td>
<td style='padding:0in 0in 0in 0in'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'> <o:p></o:p></span></font></p>
</td>
</tr>
</table>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>(Source:
CardHub.com, Federal Reserve)</span></font></i></em><o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>They only
people with the courage to tell it like it is are skeptics and outcasts from
polite society inhabited by the power elite – people like <a
href="http://www.amazon.com/exec/obidos/ASIN/1455501441/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">Ron Paul</font></b></strong></a>
<span class=print-footnote>[6]</span>, <a
href="http://www.amazon.com/exec/obidos/ASIN/0393338827/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">Michael Burry</font></b></strong></a>
<span class=print-footnote>[7]</span>, and deceased critical thinkers like <a
href="http://www.amazon.com/exec/obidos/ASIN/B0000009VS/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">Frank Zappa</font></b></strong></a>
<span class=print-footnote>[8]</span> and <a
href="http://www.amazon.com/exec/obidos/ASIN/B000RPCJBG/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">George Carlin</font></b></strong></a>
<span class=print-footnote>[9]</span>. In one of his final appearances, Carlin
brutally lashed out with a torrent of truth, only spoken by courageous people
not worried about the consequences of their blunt honesty:<o:p></o:p></span></font></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“Politicians
are put there to give you that idea that you have freedom of choice. You
don’t. You have no choice. You have owners. They own you. They own
everything. They own all the important land, they own and control the
corporations, and they’ve long since bought and paid for the Senate, the
Congress, the State Houses, and the City Halls. They’ve got the judges in
their back pockets. And they own all the big media companies so they control
just about all the news and information you get to hear.</span></font></i></em><o:p></o:p></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>They
spend billions of dollars every year lobbying to get what they want. Well, we
know what they want; they want more for themselves and less for everybody else.
But I’ll tell you what they don’t want—they don’t want
a population of citizens capable of critical thinking. They don’t want
well informed, well educated people capable of critical thinking. They’re
not interested in that. That doesn’t help them. That’s against
their interest. You know something, they don’t want people that are smart
enough to sit around their kitchen table and figure out how badly they’re
getting coerced by a system that threw them overboard 30 years ago. They
don’t want that, you know what they want?</span></font></i></em><o:p></o:p></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>They
want obedient workers, obedient workers. People who are just smart enough to
run the machines and do the paperwork and just dumb enough to passively accept
all these increasingly worse jobs with the lower pay, the longer hours, the
reduced benefits, the end of overtime and the vanishing pension that disappears
the minute you go to collect it. The table is tilted folks, the game is rigged.
Nobody seems to notice, nobody seems to care. Good honest hard working people,
white collar, blue collar, it doesn’t matter what color shirt you have
on. Because the owners of this country know the truth, it’s called the
American Dream, because you have to be asleep to believe it.”</span></font></i></em><o:p></o:p></p>
<h3><b><font size=4 face="Times New Roman"><span style='font-size:13.5pt'><br>
Grotesque Casino of Corporate Fascism<o:p></o:p></span></font></b></h3>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“The
illusion of freedom will continue as long as it's profitable to continue the
illusion. At the point where the illusion becomes too expensive to maintain,
they will just take down the scenery, they will pull back the curtains, they
will move the tables and chairs out of the way and you will see the brick wall
at the back of the theater.” – </span></font></i></em><a
href="http://www.amazon.com/exec/obidos/ASIN/B0000009VS/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">Frank Zappa</font></b></strong></a>
<span class=print-footnote>[8]</span><o:p></o:p></p>
<p align=center style='text-align:center'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.mybudget360.com/wp-content/uploads/2012/03/average-income-americans.png"
target="_blank" title="'average-income-americans' t "><span style='text-decoration:
none'><img border=0 width=32 height=32 id="_x0000_i1032"
src="cid:image002.gif@01CD55CC.B179EEE0"
alt="Description: average-income-americans"></span></a><span
class=print-footnote>[10]</span><o:p></o:p></span></font></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“Specifically,
over the past 15 years, the global financial system – encouraged by
misguided policy and short-sighted monetary interventions – has lost its
function of directing scarce capital toward projects that enhance the
world’s standard of living. Instead, the financial system has been
transformed into a self-serving, grotesque casino that misallocates scarce
savings, begs for and encourages speculative bubbles, refuses to restructure
bad debt, and demands that the most reckless stewards of capital should be
rewarded through bailouts that transfer bad debt from private balance sheets to
the public balance sheet. What is central here is that the government policy
environment has encouraged this result. This environment includes financial
sector deregulation that was coupled with a government backstop, repeated
monetary distortions, refusal to restructure bad debt, and a preference for
policy cowardice that included bailouts and opaque accounting. Deregulation and
lower taxes will not fix this problem, nor will larger stimulus
packages.” </span></font></i></em>– <a
href="http://www.financialsense.com/contributors/john-hussman-phd"
target="_blank"><strong><b><font face="Times New Roman">John Hussman</font></b></strong></a>
<span class=print-footnote>[11]</span><o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>None of
the solutions put forth by Obama or Romney will fix the problems facing the
country today. They are two handpicked figureheads representing the same
owners. Both political parties are responsible for the grotesque casino that
passes for our financial system. These politicians have been in alternating
control of our government system for the last 150 years. They don’t want
to come up with real solutions to the problems they created. The owners want
obedient workers, distracted by technology and shallow entertainment,
subjugated by debt used to buy things they want but don’t need, believing
waging wars in distant lands keeps us safe, and favoring the imprisonment of
petty thieves and drug users while the grand thieves run the country and
control our currency. Keeping the willfully ignorant masses in the dark and
confused is a vital part of the plan. Debt is the ingredient that enriches the
issuers and keeps the dupes in check. Wall Street bankers, Federal
Reserve governors, captured financial “experts”, journalists paid
by corporations, economists with an ideological agenda and bought off
politicians all repeating the same theme with the same unquestioning, strident
conviction is a sure sign that we are being played. The never ending series of
titanic bailouts of Wall Street did not avert a catastrophic economic collapse.
They protected the corporate fascists from experiencing the consequences of
their monstrous predatory actions over the last few decades. And it was all
done for money. Simple human greed and an insane desire by a few psychotic men
to control and manipulate others for their own selfish pleasure is what has
turned this country into a corporate fascist state bereft of its soul and
original founding principles, as stated by <a
href="http://www.amazon.com/exec/obidos/ASIN/1455501441/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">Ron Paul</font></b></strong></a>
<span class=print-footnote>[6]</span>:<o:p></o:p></span></font></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“We’re
not moving toward Hitler-type fascism, but we’re moving toward a softer
fascism: Loss of civil liberties, corporations running the show, big government
in bed with big business. So you have the military-industrial complex, you have
the medical-industrial complex, you have the financial industry, you have the
communications industry. They go to <st1:State w:st="on"><st1:place w:st="on">Washington</st1:place></st1:State>
and spend hundreds of millions of dollars. That’s where the control is. I
call that a soft form of fascism — something that’s very
dangerous.”</span></font></i></em><o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>The soft
form of fascism easily transforms into the hard form as those in control
exhibit their supremacy with displays of military potency in our cities (<st1:City
w:st="on">Boston</st1:City>, <st1:City w:st="on">St. Louis</st1:City>, <st1:City
w:st="on">Pittsburgh</st1:City>, <st1:City w:st="on"><st1:place w:st="on">Chicago</st1:place></st1:City>),
passage of liberty stripping legislation like the Patriot Act and NDAA, along
with announcements about thousands of drones patrolling our skies over the next
five years. When propaganda begins to lose its effectiveness, brute force is
the next step. Whenever I write about the slow methodical disintegration of our
once great republic into a dysfunctional banana republic controlled by bankers,
mega-corporations and arms dealers; the apologists for the empire scoff and
cynically ask for my solutions. I, along with many other rational thinking
realists, have proposed solutions, but they don’t have a snowballs chance
in <st1:country-region w:st="on"><st1:place w:st="on">Syria</st1:place></st1:country-region>
of ever even being debated by the existing ruling class. The unholy alliance
between bankers, corporate interests and politicians must be broken. These
proposals would go a long way towards breaking that alliance:<o:p></o:p></span></font></p>
<h4><b><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Political
System<o:p></o:p></span></font></b></h4>
<ul type=disc>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Since politicians cannot be trusted to exhibit
courage or intelligence when it comes to public policy, a balanced budget
amendment to the Constitution needs to be passed, with a five to ten year
implementation period to ameliorate the pain. <o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Term limits of 6 years for Congressmen and
Senators. Serving in Congress should not be a career. It is a duty to the
country. The purpose of Congress is to represent the existing generations
of citizens and ensure that future generations have a country that offers
opportunity to live a better life than their parents.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The entire election process would be scraped. It
would be transformed into a 3 month publicly financed election. No money
from corporations, unions, or individuals would be allowed. Multiple
candidates would have an opportunity to debate on public TV. The two party
domination of our political process must be broken.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Corporations are not people. Extreme wealth does
not give someone the right to buy elections. Rich oligarchs operating in
the shadows and spending billions on negative advertising is not how a
republic should elect their representatives. Lobbyists, special
interests and PACs and would be eliminated from the political process.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The President could no longer issue Executive
Orders, undercutting the legislative process.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Every bill before Congress would immediately be put
online. The constituents of every Congressmen and Senator would be allowed
to voice their opinion by voting yes or no online.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Every bill that is proposed by a Congressman must
have a funding mechanism. If the proposal increases costs to the American
taxpayer, something else must be cut to pay for the new proposal. This
would be unnecessary if a balance budget amendment was passed. <o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>No American troops could be committed to war in a
foreign country without a full vote of Congress as required by the US Constitution.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>A cost benefit analysis would be conducted
regarding every department and agency in the Federal Government by the
GAO. Those failing to meet minimum requirements would be drastically
reduced or eliminated.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l1 level1 lfo1'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The education of children would be delegated to
localities, without Federal mandates. Every child in <st1:country-region
w:st="on"><st1:place w:st="on">America</st1:place></st1:country-region>
would receive vouchers for grade school, high school and college. They
could choose any school to attend – public or private. If the
private school cost more than the voucher, the family would pay the
difference. Excellent schools would flourish, poor schools would be forced
to improve or they would close. Teacher tenure would be eliminated.
Teaching excellence would be rewarded.<o:p></o:p></span></font></li>
</ul>
<h4><b><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Economic
Policy<o:p></o:p></span></font></b></h4>
<ul type=disc>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The first thing to be done is to abolish the
Federal Reserve. It is owned by and operated for the benefit of the
biggest banks in the world. Its sole purpose has been to enrich the few at
the expense of the many through its insidious use of inflation and debt
issuance. It has been around for less than 100 years and has debased the
USD by 96%. The U.S. Treasury has the authority to issue the currency of
the country. It did so from 1789 until 1913.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The 2nd thing to do would be to reinstitute the
Glass-Steagall Act because Wall Street cannot be trusted to manage their
risk properly. This would separate true banking activities from the high
risk gambling that brought the economic system to its knees. Privatizing
the profits and socializing the losses is unacceptable. <o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The FASB would be directed to make all banks and
financial corporations value their assets at their true market value. This
would reveal the mega Wall Street banks and corporations like GE to be
insolvent. An orderly bankruptcy of all insolvent financial firms
involving the sell-off of their legitimate assets to well-run risk adverse
banks that didn’t mess up would ensue. Bondholders and stockholders
would realize their losses for awful investment decisions. The economic
system would be purged of its bad debt.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The currency of the <st1:country-region w:st="on"><st1:place
w:st="on">US</st1:place></st1:country-region> would be backed by hard
assets. A basket of gold, silver, platinum, uranium, and some other
limited hard commodities would back the USD. If politicians attempted to
spend too much, the price of this basket would reflect their inflationary
schemes immediately.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The 16th Amendment would be repealed and the
income tax would be scraped. It would be replaced with a national
consumption tax. The more you consume, the more taxes you pay. Wages,
savings and investment would be untaxed. The tax code is the source for
much of politicians’ power. Its demise would further reduce <st1:place
w:st="on"><st1:City w:st="on">Washington</st1:City> <st1:State w:st="on">DC</st1:State></st1:place>
control over our lives.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>A downsizing of the US Military from $1 trillion
to $500 billion annually would be initiated through the withdrawal of
troops from <st1:country-region w:st="on">Afghanistan</st1:country-region>,
<st1:country-region w:st="on">Iraq</st1:country-region>, <st1:country-region
w:st="on">Germany</st1:country-region>, <st1:country-region w:st="on"><st1:place
w:st="on">Japan</st1:place></st1:country-region> and hundreds of other
bases throughout the world. Policing the world is bankrupting the empire.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>All corporate, farm, education, and social
engineering subsidies would be eliminated. All Federal employees would
have their pay slashed by 10% and the workforce would be reduced by 20%
over 5 years. Federal health benefits and pension benefits would be set at
average private industry levels.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The Social Security System would be completely
overhauled. Anyone 50 or older would get exactly what they were promised.
The age for collecting SS would be gradually raised to 72 over the next 15
years. Those between 25 and 50 would be given the option to opt out of SS.
They would be given their contributions to invest as they see fit if they
opt out. Anyone entering the workforce today would not pay in or receive
any benefits. The wage limit for SS would be eliminated and the tax rate
would be reduced from 6.2% to 3%.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The Medicare system is unsustainable. It would be
converted from a government program to private market based program. The
Federal mandates, rules and regulations would be eliminated. Senior
citizens would be given healthcare vouchers which they would be free to
use with any insurance company or doctor based on price and quality.
Insurance companies would compete for business on a national basis.
Doctors would compete for business. The GAO would have their budget
doubled and they would audit Medicare fraud & Medicaid fraud and
prosecute the criminals without impunity.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The healthcare bill would be repealed. Insurance
companies would be allowed to compete with each other on a national basis.
Tort reform would be implemented so that doctors could do their jobs
without fear of being destroyed by slimy personal injury lawyers. Doctors
would need to post their costs for various procedures. Price and quality
would drive the healthcare market.<o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>The entitlement state would be dismantled. The
criteria for collecting welfare, SSDI, food stamps and unemployment
benefits would be made much stricter. Unemployed people collecting
government payments would be required to clean up parks, volunteer at
community charity organizations, pick up trash along highways, fix and
paint houses in their neighborhoods and generally keep busy in a
productive manner for society. <o:p></o:p></span></font></li>
<li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
mso-list:l2 level1 lfo2'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>A free market method for stabilizing the housing
market would be for banks to voluntarily reduce the mortgage balances of
underwater homeowners in exchange for a PAR (Property Appreciation Right).
The homeowner would agree to pay off the PAR to the Treasury (and
administered through the IRS) out of future price appreciation on the
existing home or subsequent property. The homeowner would be excluded from
taking on any home equity loans or executing any “cash out”
refinancing until the PAR was satisfied. The maximum PAR obligation
accepted by the Treasury would be based on the value of the home and the
income of the homeowner.<o:p></o:p></span></font></li>
</ul>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>I’m
sure there are many more solutions which non-captured, intelligent, reasonable
citizens could put forth to save this country. None of these ideas would be
acceptable to the country’s owners. They would reduce their wealth and
power. What these oligarchs do not realize is that we are in the midst of a <a
href="http://www.amazon.com/exec/obidos/ASIN/0767900464/financialsenseon"
target="_blank"><strong><b><font face="Times New Roman">Fourth Turning</font></b></strong></a>
<span class=print-footnote>[12]</span>. Those who experienced the last one have
died off. The existing social order will be swept away. It is likely to be
violent and bloody. Good people and bad people will die. When the Crisis
reaches its climax we will have the opportunity to implement good solutions.
There is also the distinct possibility that our populace will turn to someone
that promises them renewed glory. Decades of delusional decisions will lead to
a future that will not be orderly or controllable.<o:p></o:p></span></font></p>
<p align=center style='text-align:center'><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><img border=0 width=32 height=32 id="_x0000_i1033"
src="cid:image002.gif@01CD55CC.B179EEE0"
alt="Description: http://farm2.static.flickr.com/1059/1415412459_b8acbcf625.jpg"><o:p></o:p></span></font></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>“The
Banks must be restrained, and the financial system reformed, with balance restored
to the economy, before there can be any sustained growth and recovery. If the
suffering becomes great enough, change will inevitably come, but it may not be
orderly or as controllable as the moneyed interests often like to think.”
- </span></font></i></em><a href="http://jessescrossroadscafe.blogspot.com/"
target="_blank"><strong><b><font face="Times New Roman">Jesse</font></b></strong></a>
<span class=print-footnote>[5]</span><o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>If you
missed the first two parts of this series, click <a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-one"
target="_blank">part 1</a> <span class=print-footnote>[1]</span> and <a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-2"
target="_blank">part 2</a> <span class=print-footnote>[2]</span> to read both
editorials.<o:p></o:p></span></font></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Source:
The Burning Platform<o:p></o:p></span></font></p>
<h2><b><font size=5 face="Times New Roman"><span style='font-size:18.0pt'>About
<a href="http://www.financialsense.com/contributors/james-quinn"
title="View user profile.">James Quinn</a> <span class=print-footnote>[15]</span><o:p></o:p></span></font></b></h2>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><img border=0 width=85 height=85 id="_x0000_i1034"
src="cid:image003.jpg@01CD55CC.B179EEE0" class=photo><o:p></o:p></span></font></p>
<p class=MsoNormal><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn"
title="View user profile.">James Quinn</a> </span></font></b></strong><span
class=print-footnote><b><span style='font-weight:bold'>[15]</span></b></span><o:p></o:p></p>
<p class=MsoNormal><span class=title><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Senior Director of Strategic Planning </span></font></span>at
<span class=org>Quinn Advisors</span><br>
<strong><b><font face="Times New Roman">Primary Tel:</font></b></strong><span
class=tel> </span><span class=value>(215) 573-5404 </span><br>
<span class=email>quinnadvisors @ comcast.net</span><br>
<a href="http://theburningplatform.com/">http://theburningplatform.com/</a> <span
class=print-footnote>[16]</span> <o:p></o:p></p>
<h2><b><font size=5 face="Times New Roman"><span style='font-size:18.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn"
title="View user profile.">James Quinn</a> <span class=print-footnote>[15]</span>
Archive<o:p></o:p></span></font></b></h2>
<table class=MsoNormalTable border=0 cellpadding=0>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>06/21/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-2">Who
Destroyed the Middle Class, Part 2</a> <span class=print-footnote>[2]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>06/20/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-one">Who
Destroyed the Middle Class, Part 1</a> <span class=print-footnote>[1]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>06/11/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/it-only-took-a-global-depression-to-reduce-gas-prices-by-forty-cents">It
Only Took a Global Depression to Reduce Gas Prices by 40 Cents</a> <span
class=print-footnote>[17]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>05/07/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/the-fraud-and-theft-will-continue-until-morale-improves">The
Fraud & Theft Will Continue Until Morale Improves</a> <span
class=print-footnote>[18]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>04/26/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/h-l-mencken-was-right">H.L.
Mencken Was Right</a> <span class=print-footnote>[19]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>04/23/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/epic-fail-part-one">Epic
Fail - Part One</a> <span class=print-footnote>[20]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>04/04/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/you-aint-seen-nothing-yet">You
Ain’t Seen Nothing Yet</a> <span class=print-footnote>[21]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>03/19/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/asleep-at-the-wheel">Asleep
at the Wheel</a> <span class=print-footnote>[22]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>03/06/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/cause-effect-and-the-fallacy-of-a-return-to-normalcy">Cause,
Effect & the Fallacy of a Return to Normalcy</a> <span
class=print-footnote>[23]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>02/27/2012<o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://www.financialsense.com/contributors/james-quinn/extend-and-pretend-coming-to-an-end">Extend
& Pretend Coming to an End</a> <span class=print-footnote>[24]</span><o:p></o:p></span></font></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span class=type-story><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>story</span></font></span><o:p></o:p></p>
</td>
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<p class=MsoNormal><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Source URL (retrieved on </span></font></b></strong><em><b><i><font
face="Times New Roman"><span style='font-weight:bold'>29 Jun 2012</span></font></i></b></em><strong><b><font
face="Times New Roman">):</font></b></strong> <a
href="http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-three">http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-three</a><o:p></o:p></p>
<p><strong><b><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Links:</span></font></b></strong><br>
[1]
http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-one<br>
[2]
http://www.financialsense.com/contributors/james-quinn/who-destroyed-the-middle-class-part-2<br>
[3] http://www.amazon.com/exec/obidos/ASIN/030795255X/financialsenseon<br>
[4]
http://dkl3fnj1o5loa.cloudfront.net/wp-content/uploads/2012/06/Household-Net-Worth-Survey-of-Consumer-Finances-Federal-Reserve-2010.png<br>
[5] http://jessescrossroadscafe.blogspot.com/<br>
[6] http://www.amazon.com/exec/obidos/ASIN/1455501441/financialsenseon<br>
[7] http://www.amazon.com/exec/obidos/ASIN/0393338827/financialsenseon<br>
[8] http://www.amazon.com/exec/obidos/ASIN/B0000009VS/financialsenseon<br>
[9] http://www.amazon.com/exec/obidos/ASIN/B000RPCJBG/financialsenseon<br>
[10] http://www.mybudget360.com/wp-content/uploads/2012/03/average-income-americans.png<br>
[11] http://www.financialsense.com/contributors/john-hussman-phd<br>
[12] http://www.amazon.com/exec/obidos/ASIN/0767900464/financialsenseon<br>
[13] http://www.financialsense.com/print/print/contributors/james-quinn/who-destroyed-the-middle-class-part-three<br>
[14] http://www.addthis.com/bookmark.php?v=250&amp;username=financialsense<br>
[15] http://www.financialsense.com/contributors/james-quinn<br>
[16] http://theburningplatform.com/<br>
[17] http://www.financialsense.com/contributors/james-quinn/it-only-took-a-global-depression-to-reduce-gas-prices-by-forty-cents<br>
[18]
http://www.financialsense.com/contributors/james-quinn/the-fraud-and-theft-will-continue-until-morale-improves<br>
[19] http://www.financialsense.com/contributors/james-quinn/h-l-mencken-was-right<br>
[20] http://www.financialsense.com/contributors/james-quinn/epic-fail-part-one<br>
[21]
http://www.financialsense.com/contributors/james-quinn/you-aint-seen-nothing-yet<br>
[22] http://www.financialsense.com/contributors/james-quinn/asleep-at-the-wheel<br>
[23]
http://www.financialsense.com/contributors/james-quinn/cause-effect-and-the-fallacy-of-a-return-to-normalcy<br>
[24]
http://www.financialsense.com/contributors/james-quinn/extend-and-pretend-coming-to-an-end<o:p></o:p></p>
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