2/10/11 - Revolution Is Happening In The USA

Basically highlighting the economic plight taking hold of the country, the protesters of the 'Occupy Wall Street' Movement are seeking to introduce the factors behind the plight.

One of the posts on the Occupy Wall Street website reads: “We are unions, students, teachers, veterans, first responders, families, the unemployed and underemployed. We are all races, sexes and creeds. We are the majority. We are the 99 percent. And we will no longer be silent.”

The protesters have targeted the Wall Street because they want “to create a national narrative and have it be known how the states are taking state revenues that are being funneled to banks and corporations and then you layer on top of that the fact that they're not obligated to pay their fair share of taxes, and so that's billions and billions of dollars that could be put toward job creation and creating solutions to the housing crisis,” Rachel Laforest, the executive director of the Right to the City Alliance has told ABC News.

It is very painful to see that the middle-class Americans who have been reduced to abject poverty should now swallow their pride and capitulate to any humiliating position as they have lost their veritable status.

The protests are reaching other states as well. American activists are going to begin “Occupy Los Angeles” in solidarity with the Occupy Wall Street protests. Similar protests are taking place in Chicago and other major states. Although some cynics have tried to downplay the protests in New York and reduce them to sheer acts of protests by loafers, the truth is that they have already expressed their intention for these protests: they feel deceived by a system which has allowed Wall Street to wallow in its avarice and cause a financial meltdown and virtually shut down the country's economy. The demands of the protesters are gradually coming to light as they are being more organized. One of the innovative measures adopted by the protesters was the launching of a new Tumblr blog called “We Are the 99 Percent” in reference to the fact that 99 percent of Americans are experiencing economic hardship while only one percent are in possession of an ideal life. The blog features a series of handwritten notes regarding different economic hardships including debt, unemployment, lack of health insurance and few available jobs. It clearly and painfully states:

We are the 99 percent. We are getting kicked out of our homes. We are forced to choose between groceries and rent. We are denied quality medical care. We are suffering from environmental pollution. We are working long hours for little pay and no rights, if we're working at all. We are getting nothing while the other 1 percent is getting everything. We are the 99 percent.

17/9/11 - US Real Unemployment Rises To 22.8%

The Coming Depression Editorial Staff (original story here)

Ben Bernanke admits the last Great Depression was engineered by the Federal Reserve.

It can also be caused by the monetary system. In a modern capitalist economy, the creation of abundance of money that accrues very unevenly in the hands of individuals can aggravate poverty. Milton Friedman, a well-known monetary economist, says that inflation is predominantly a monetary phenomenon. If this is the case, the worsening of the global poverty problem can be significantly pointed at the institutions that are responsible for the creation of fiat money.

Kurt Nimmo
Infowars.com
September 13, 2011
According to the Census Bureau, nearly 1 out of 6 Americans now live in poverty. From the Associated Press today:

The Census Bureau’s annual report released Tuesday offers a snapshot of the economic well-being of U.S. households for 2010, when joblessness hovered above 9 percent for a second year. It comes at a politically sensitive time for President Barack Obama, who has acknowledged in the midst of a re-election fight that the unemployment rate could persist at high levels through next year….
Measured by total numbers, the 46 million now living in poverty is the largest on record dating back to when the census began tracking poverty in 1959. Based on percentages, it tied the poverty level in 1993 and was the highest since 1983.

In fact, the real unemployment figure is 22.8%, according to John Williams’ Shadow Stats. During the last Great Depression, the unemployment rate peaked at 25 percent in 1933.
The current boss of the Federal Reserve, Ben Bernanke, has admitted that the Federal Reserve engineered the Great Depression (and future Federal Reserve chairmans – if we don’t get rid of them – will probably admit the current Greatest Depression was created by the banksters).
Both unemployment and poverty are created by the fractional reserve system and its expansion of the money supply.
“Poverty can be caused by real economy, that is to say, by the lack of supply of real things,” writes economics professor Ahamed Kameel Mydin Meera.

It can also be caused by the monetary system. In a modern capitalist economy, the creation of abundance of money that accrues very unevenly in the hands of individuals can aggravate poverty. Milton Friedman, a well-known monetary economist, says that inflation is predominantly a monetary phenomenon. If this is the case, the worsening of the global poverty problem can be significantly pointed at the institutions that are responsible for the creation of fiat money.

In the United States, that institution – not federal, as claimed, but owned by a cartel of bankers – is the Federal Reserve.

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13/9/11 - Number of poor hit record 46 million in 2010

By David Morgan

WASHINGTON | Tue Sep 13, 2011 12:36pm EDT

(Reuters) - The number of Americans living below the poverty line rose to a record 46 million last year, the government said on Tuesday, underscoring the challenges facing President Barack Obama and Congress as they try to tackle high unemployment and a moribund economy.

The Census Bureau's annual report on income, poverty and health insurance coverage said the national poverty rate climbed for a third consecutive year to 15.1 percent in 2010 as the economy struggled to recover from the recession that began in December 2007 and ended in June 2009.

That marked a 0.8 percent increase from 2009, when there were 43.6 million Americans living in poverty.

The number of poor Americans in 2010 was the largest in the 52 years that the Census Bureau has been publishing poverty estimates, the report said, while the poverty rate was the highest since 1993.

The specter of economic deterioration also afflicted working Americans who saw their median income decline 2.3 percent to an annual $49,445.

About 1.5 million fewer Americans were covered by employer-sponsored health insurance plans, while the number of people covered by government health insurance increased by nearly 2 million.

All told, the number of Americans with no health insurance hovered at 49.9 million, up slightly from 49 million in 2010.

The economic deterioration depicted by the figures is likely to have continued into 2011 as economic growth diminished, unemployment remained stuck above 9 percent and fears grew of a possible double-dip recession.

The report of rising poverty coincides with Obama's push for a $450 billion job creation package, and deliberations by a congressional "super committee" tasked with cutting at least $1.2 trillion from the budget deficit over 10 years.

Faced with deteriorating job approval ratings, the president is trying to convince Republicans in Congress to support his package.

Analysts said poverty-related issues have relatively little hold on politicians in Washington but hoped the new figures would encourage the bipartisan super committee to avoid deficit cuts that would hurt the poor.

The United States has long had one of the highest poverty rates in the developed world. Among 34 countries tracked by the Paris-based Organization for Economic Cooperation and Development, only Chile, Israel and Mexico have higher rates of poverty.

12/9/11 - Families hit by the biggest squeeze on incomes since Second World War... and there's years of pain ahead

Families are being crippled by one of the biggest attacks on their finances since at least the Second World War, researchers warn today.The report says the impact of ‘the Great Recession’ is only now being felt – and will continue to inflict pain for several years.
In a bleak analysis the respected Institute for Fiscal Studies warns: ‘The pain was delayed, not avoided.’
And it says families with children are being ‘hit harder’ than others due to controversial changes, such as the freezing of child benefit.
The report says Britons are living through ‘one of the worst decades for changes in living standards since at least the Second World War.’
Between 2003 and 2007, it says, the average family’s income after tax grew by around 0.5 per cent a year. Read More

19/8/11 - Thousands Camp Out for Atlanta Job Fair as Jobless Rate Rises to 10.1%

Thousands of unemployed waited overnight, camping out in their business suits and office heels and braving the tormenting heat in Atlanta to stand in line for a job fair Thursday. Authorities treated 20 people for heat exhaustion as they struggled to keep the line moving and get people moved inside.

The incredible turnout at the job fair comes on the heels of the state labor commissioner's announcement that Georgia's jobless rate rose.

The state unemployment rate increased to 10.1 percent in July from the 9.9 percent in June. The unemployment rate for African-Americans stands at 15.9 percent, far above the national rate of 9.1 percent.

July marks the 48th consecutive month that Georgia has exceeded the national unemployment rate.

The line was full of hopefuls who waited for hours in a line that wrapped around the Atlanta Technical College where the event was held.

The For the People Jobs Initiative, hosted by U.S. Reps. John Lewis and Hank Johnson and sponsored by the Congressional Black Caucus, is a series of job fairs and town halls at some of the urban areas hit hardest by unemployment and the financial crisis.

The enormous turnout in Georgia created miles of traffic that clogged southwest Atlanta. (more) 

8/7/11 - US June jobs report: Hiring slows, unemployment rises

The job market hit a major roadblock last month, as hiring slowed to a crawl and the unemployment rate unexpectedly rose.

The economy gained just 18,000 jobs in June, the government reported Friday, sharply missing most expectations and coming in even weaker than the paltry 25,000 jobs added in May.

It marked the weakest month since September, when the economy was still losing jobs. Immediately after the release, stock futures plummeted and bond prices rose.

"At first, when I heard it, I thought maybe they had announced the wrong numbers, they were so bad," said Robert Brusca of Fact and Opinion Economics.

Economists were expecting government job losses, but few had predicted that private businesses would pull the reins back so tightly.

Private businesses added only 57,000 jobs in June - the weakest growth since May 2010. Earlier this year, businesses had been adding more than 200,000 jobs each month. (read more)