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W Texas | Never having done so intentionally, I am no expert. And to clarify, I should have probably said "the working poor". But here goes:
1) Fractional reserve banking and the Fed. All US currency is lent into existence. We are not allowed real money. The system guarantees the working poor will be indebted to the banks and that all savers will be penalized by inflation. Because we have fiat currency, it must be defended by the US 7th Fleet, turning citizens into cannon fodder. Also reference ZIRP, which penalizes savers, etc.
2) Payday loans, check cashing outfits. These folks prey upon the simple minded folks and are allowed to do so because of their powerful lobby groups.
3) Wall street trading firms, specifically high frequency trading. Front running stock purchases for their clients allows Goldman Sachs, et al, to turn a profit on 99% of trading days. Perfectly legal. Highly unethical.
4) Subprime mortgages, NINJA loans, etc. Give a poor person a home loan they can't afford, then bleed them dry and repossess the home and step over their lifeless carcass to put up a for sale sign. This happened all over the US a few years ago. I challenge you to name one person that was prosecuted (without using Google, etc.)
5) Wall street bailouts. Poor and middle class paying taxes to bail out Goldman Sachs.
6) Student Loans. Colleges and Universities "educate" the unsuspecting with Liberal Arts degrees, etc. Consigning them to a lifetime of debt servitude. The educator who will advise a student to get a marketable skill or tell them they don't have the talent to write the next great american novel is a rare bird.
7) Corporate governance/CEO compensation. Publicly traded corporations are treated like piggy banks for the CEO's and corporate boards, depriving employee pension funds of income necessary to cover future liabilities.
8) Charities. Many charities use less than a few percent of their total income for charitable purposes. Feed the Children spends about 5% on food and food distribution. 95% goes to salaries and advertising, etc. Children of the founder live in 10M dollar mansions, etc. These charities are in large part funded by the generosity of the poor.
9) US Foreign Aid. Stealing money from poor people in rich countries, to give to rich people in poor countries.
10) US Farm Aid. Taxing the middle class and working poor to subsidize multigenerational farms which often have a dozen different entities in different names, etc., to work around income restrictions.
Edited by jimsonweed 1/9/2016 21:42
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Declining moral values may just help set up the next farm business. Questions about banking??
