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The Banking Protection Racket: The Dismantling Of The Middle Class

 

The banking protection racket – 5 charts highlighting the laundering and dismantling of the middle class.  New methods of looking at employment.  Peak debt and tweaking statistics.

Excerpt from My Budget 360

The hidden cost of bailouts and Fed policy

Household wages have not benefitted from the trillions of dollars in bailouts.  Banks of course are back to their gambling ways even after bringing the economy to a near depression.  The end result?  Nothing has changed.  But inflation is creeping into the market:

mit annual inflation

Inflation is now running at a near 3 percent clip but wages are stagnant or falling.  So in the end Americans are becoming poorer to finance the bailouts for the banks.  Just look at the cost of fuel, food, healthcare, and education and you’ll see where items are rising.

As all these items collide we have a pattern that looks like this:

-Continued bailouts to the financial sector (the perfect synergy between Wall Street and government)

-Bailouts come from Federal Reserve and the cost is shifted out to the public via higher inflation

-We are entering a low-wage capitalism era

-The middle class is being crushed.  The top one percent control more wealth than they did to the years prior to the Great Depression

This is the not the path to prosperity here.  When we finance gamblers and protect those that siphon off from the productive sectors of the economy we are destined for a repeat of the crisis.

Read the entire article at My Budget 360

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