Defending a Sacred Trust: The High Stakes For The Future Of US Social Security

Social Security is one of the most important and popular government programs of all time. Not only has it been crucial as a foundation for US retirees and as the most effective anti-poverty program ever — it also has been indispensable as “the policy cornerstone of a decades-old philosophy which deploys the ‘visible hand’ of government to foster a fair economy for all,” according to author Steven Hill in his new book, Expand Social Security Now: How to Ensure Americans Get the Retirement They Deserve.

Social Security, which dates back to President Franklin Roosevelt’s New Deal in the 1930s, has been beneficial not only for individual retirees, but also for US businesses and the broader macroeconomy. It acts as an “automatic stabilizer,” says Hill, keeping money in people’s pockets, which maintains levels of consumer spending during economic downturns. Yet despite its obvious value, Social Security has been under attack in recent years by many conservatives and small-government advocates, including both Republicans and Democrats, who have called for austerity-like cuts and “entitlement reform.”…

http://www.truth-out.org/news/item/36619-defending-a-sacred-trust-the-high-stakes-for-the-future-of-us-social-security

One American’s True Story: “How I Went From Middle Class To Homeless”

Joe is one of the 71% of Americans who think the U.S. economic system is “rigged in favor of certain groups,” according to a new poll by Marketplace and Edison Research.  The poll asked a simple question: Which of the following comes closer to your opinion on the economic system in the U.S. People could select between three options:

  1. The economic system is rigged in favor of certain groups
  2. The economy system is fair to all Americans
  3. Don’t know

Most selected rigged economy.

As CNN adds, it didn’t matter if the person was white, black or Hispanic or whether they identified as Republican, Democrat or Independent. The majority feel the American Dream comes with huge asterisk that reads “only for the favored few.”

Americans have good reason to think this way. The typical middle class family is earning about the same amount of money adjusted for inflation, just under $54,000, as they did in 1996.

That means that as the rich get richer, the middle class hasn’t seen an improvement in its way of life in 20 years. On top of that, the Great Recession knocked out many people’s safety net savings as they lost jobs or homes or both. Even people who have jobs say they feel one step away from financial ruin. They fear a life ofdead-end crap jobs with crap wages.”

People like Joe, 60, who lives in a mobile home ith his mother outside of Philadelphia and is desperate. He last held a job in early 2013:The first seven weeks I was there we were busier than I’ve ever seen a small company be, and then like someone flipped a switch. The work just stopped.”…

http://www.zerohedge.com/news/2016-06-29/one-americans-true-story-how-i-went-middle-class-homeless

Soros Betting Against Deutsche Bank

The Euro is the manifestation of a gigantic Ponzi scheme run by an undemocratic and now totally dysfunctional EU.  As Tony Benn said in 1975, “I can think of no body of men outside the Kremlin who have so much power without a shred of accountability for what they do.” Now there are calls for a German referendum. That is not going to help German banks and the confidence in such a currency.

Brexit will be used as the EU destruction catalyst when it really just opened the can of EU worms

Will the eurozone come crashing down? George Soros bets €100m AGAINST Deutsche Bank

BILLIONAIRE investor George Soros took out a staggering €100MILLION bet that a major German bank would collapse after Britain decisions to cut ties with the crumbling EU.

The man who “broke the Bank of England” took a short position of 0.51 per cent in Deutsche Bank shares on Friday – the day after the people of Britain backed Brexit.

In growing signs that desperate Angela Merkel’s economy is struggling in the wake of the nation’s decision to leave the EU – Soros Fund Management said its short position was now 0.46 per cent – suggesting it had begun to take profits from the trade.

Since the momentous decision, shares at Deutsche have dramatically slumped.

At one point, shares were down by more than 13 per cent compared with Friday’s high point…

http://investmentwatchblog.com/soros-now-betting-100-million-marks-on-the-collapse-of-deutsche-bank/

Firing The Elites

…But the biggest problem with these transatlantic elites is this: they cannot be fired. The more they fail, the more entrenched they become. Obviously, this has nothing to do with education, or merit, or popularity; it is simply a matter of class. The elites consider themselves to be Übermenschen, elevated far above mere mortals. Democracy is a plaything for them. Most of the time they have been able to manipulate the politics to their advantage. When that fails, the “little people” get to vote over and over again until they “get it right.” But this political fix is now failing, on both sides of the Atlantic, because it would appear that the “little people” have finally had enough…

http://www.informationclearinghouse.info/article44994.htm

Revenge Of The Rubes

The truth is, it is the “European Project” which represents the darker impulses –  it is a tyranny based on a muddled brew of globalism, statism, financialization and the cult of central banking. It’s days are numbered because even the rubes can see that it doesn’t work, and that its massive internal contradictions are heading for a spectacular implosion. The British voters have decided to get out of harms’ way. Hopefully, there will soon be many other cases of the rubes in revolt...

http://www.zerohedge.com/news/2016-06-29/revenge-rubes-why-days-financial-elites-rule-are-numbered