America's Student Loan Racket: Soaring Default Rates - SteveLendmanBlog - May 19, 2011 - An earlier article discussed Permanent Debt Bondage from America's Student Loan Racket," accessed through the following link: http://sjlendman.blogspot.com/2011/01/permanent-debt-bondage-from-americas.html
It explained government/corporate complicity to rip off students for profit, a racket continuing under Obama. His July 2010 Student Aid and Fiscal Responsibility Act perpetuated the scam. It enriches providers, entrapping millions of students permanently in debt, because rising tuition and fee amounts plus interest, service charges, and late payment or collection agency penalties are too onerous to repay... It's part of the grand scheme, of course, to transfer maximum public wealth to America's super-rich already with too much. Ongoing for over three decades, it accelerated under Obama, a corrupted Wall Street/war profiteer tool, destroying America for power and profit... Millions of Students Permanently Entrapped in Debt
In Rust Belt, manufacturers add jobs, but factory pay isn’t what it used to be - Washington Post - Michael A. Fletcher - May 17, 2011 - The nation’s factories have added 250,000 jobs since the beginning of last year — about 13 percent of what was lost during the recent recession — marking the first sustained increase in manufacturing employment since 1997... But the new hiring also reflects another emerging reality of U.S. manufacturing: Many of the jobs don’t pay anything close to what they used to. Assembly-line workers who will be making the EdenPure products under the auspices of Suarez Corp. Industries will start at $7.50 an hour... That’s a far cry from the $20 an hour that most workers made with Hoover, which shifted its century-old production lines to Mexico and El Paso in 2007 after concluding that it was too expensive to make its products in the industrial Midwest.
Middle-Class Americans More Productive, But Earning Less: Report - The Huffington Post - Janell Ross - 05/20/11 - American workers' productivity has soared over the last 30 years, but that extra output hasn't translating into higher earnings for the American middle class, according to a report released this week.... A 40-year-old male high school graduate earned less in real terms in 2009 than he would have in 1980, according to the report by the Employment Policy Research Network, a collective of labor, management, economics, employment and sociology researchers from 50 universities brought together by the nonpartisan nonprofit Labor and Employment Relations Association.... As middle-class Americans have lost out economically over that 30 year period, productivity, corporate profits and the incomes of America's rich have all soared, the report said. By 2009, 1 percent of the population lived on 21 percent of the nation’s total annual earnings.
Senate Bill Would Limit Use of 401(k)s as Rainy Day Funds - Bloomberg - By Margaret Collins - May 18, 2011 - Workers will be limited in tapping their 401(k) retirement plans for loans under legislation two senators introduced today that’s designed to counter the erosion of retirement assets... “Because of the difficult economic times, more and more Americans are treating their retirement accounts as rainy day funds,” Senator Herb Kohl, a Wisconsin Democrat, said in a statement today. “A 401(k) savings account should not be used as a piggy bank.”... Kohl, 76, who’s chairman of the Senate Special Committee on Aging, introduced the “SEAL 401(k) Savings Act” with Senator Mike Enzi, 67, a Wyoming Republican. The bill would reduce the number of loans workers may take from a 401(k) and give participants more time to repay after losing a job. It will allow savers to contribute to their plan after taking a hardship withdrawal and ban debit cards linked to the accounts, according to the legislation.
(The Hound: This is being done under the auspices that Big Daddy gubment is going to keep you from ruining your retirement because of the economy. They are saying that they don't want you to spend down these investments and not have anything left over when retirement comes, but the reality is that they want to keep people from taking money out of their 401-k or IRA, and thus out of the financial institutions, so that the feds can come in and raid those accounts as the Federal Reserve and United States Treasury Ponzi Scheme falls to pieces. You can see in the article below that the Treasury is already using Federal Worker's pension funds to as backing to issue Treasury notes, because the Federal Debt limit was reached last Monday, May 16, 2011. The Federal Reserve has been monetizing the debt. The Federal Reserve is the central bank of the United States and holds the direct interest of the Financial Institutions in our nation. When the dollar slides into the state of collapse that most see coming, then their will be a bank holiday and believe me, none of the people tied to the banking interests are going to give a wit about your retirement at that point. You need to carry a weary eye and start diversifying your retirement funds outside of the banking interests and Dollar-monetary investments.)
Treasury to tap pensions to help fund government - Washington Post - Zachary A. Goldfarb - May 15, 2011 - The Obama administration will begin to tap federal retiree programs to help fund operations after the government lost its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.
10 Signs The U.S. is Becoming a Third World Country - Activist Post - August 16, 2010 - 1. Rising unemployment and poverty 2. Economic dependence 3. Declining civil rights 4. Increasing political corruption 5. Military patrolling the streets 6. Failing infrastructure 7. Disappearing middle class 8. Devalued currency 9. Controlling the media 10. Capital Controls
Key economic indicators point to a situation potentially worse than the Great Depression. The land of opportunity for so many is devolving into a system of government corruption, corporate looting, and military rule that threatens to sink the American Dream. The capital flight from America has left a dwindling middle class holding an empty bag. This style of underinvestment in the foundation of society is similar to what already has led to the exodus from the rural Midwest. Now, there are ominous signs of a silent exodus of young, intelligent professionals seeking opportunities to realize their dreams outside of America; they are becoming known as Generation Xpat. Lastly, many skilled immigrants have returned to their home countries to seek a better quality of life, which might be the scariest indicator of all.
The Hound: The Following Investigative videos are from television station WTVF out of Nashville, Tennessee. The questions ask are the police officials more interested in stopping Drug Traffic or making money. The Drug war in America has become big business and interdiction, in many cases, has not been the priority. This type of philosophy is what is harming our country. If law enforcement truly wants to stop the flow of drugs into the United States, then common sense tells you that they would be fighting tooth and nail to seal the borders and they would be stopping the flow of drugs as they head east and north on the interstates. Instead they are pulling over trucks and cars from out of state that are heading back south and west. Hmmm... follow the logic and follow the money.
Tennessee Law Enforcement Stealing Money from out of state innocent motorist
Video Shows Officer Offering Truckers Freedom For Cash
Questionable Traffic Stops Caught On Camera
