found this interesting today



by problembear

this graph came with david sirota’s post today. make of it what you will.

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  1. !!! CBO no less. This is good stuff.

    And now, as we can all plainly see, it is painfully apparent that we need to cut the deficit by cutting Social Security benefits.

  2. Lizard

    mike whitney has been all over the financial shenanigans, and his latest warning is that shadow banking is coming back. here is his final summation:

    Financial system instability is no accident. It’s Central Bank policy. As financial institutions discover they can no longer count on organic growth in the real economy to increase profits, (because consumers are too strapped to spend freely) they will rely more heavily on dodgy accounting, bogus ratings, opaque debt-instruments, high-frequency trading and lax lending standards. This is the shadowy regime that Bernanke is trying so hard to rebuild. The Fed is laying the groundwork for another disaster.

    this isn’t just a recession of the economy, it’s a depression of the american psyche. the banks are getting away with such astronomical fraud, it’s like we can’t even conceive that what they are doing they should be imprisoned for.

    instead we have a blame-the-poor mentality in this country while the disparity between the wealthy and the rest of us reaches depression-era levels.

    and how are we, the taxpayer, going to absorb this fraud? by slashing social services to keep state budgets solvent. that’s fucked up.

    • “Oh what a tangled web we weave, When first we practice to deceive”
      Sir Walter Scott

      banks have deceived since their inception with the crusades in the 11th century. they will continue to practice deception. no amount of regulation will change that.

      the only real reform that might have helped is to limit the size of the banks. and nothing was done there either.

      the banks must continue to trade in deceptive assets because it is all they have left after the wind blew over their false front artificial western town facades and revealed a bunch of con men gathered around a looted treasury stuffing bonuses into their briefcases.




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