New Figures Detail Depth Of Unemployment Misery, Lower Earnings For All But Super Wealthy (VIDEO)

I wonder if the champions of capitalism rich and poor alike, (which has solidly failed the American people twice now in but 80 years) are ready to concede that it may not be all it has been cracked up to be?

The immediate response to this (if any) will be through Ad Hominem from those who see the world in only two contrasting colors with the ever popular shield that surely I must be talking about taking our country communistic, socialistic or some other "istic"...failing to see that perhaps a mix of the tried and untrue economic models might be the way to go for us. Or something new entirely.

But surely, I'm just dreaming in print, because our economic and social futures are already designed and set for us all (globally) by the wealthiest and most powerful; who amassed said wealth and power through nurturing the system(s) we live under to the detriment of the vast majority of Americans whose misfortune can be seen growing daily.

I wouldn't want to be a person of grade school age today, anywhere in the western (or eastern) world and have the next 80 years of being treated like a farm animal... to look forward to.

This is the result of short sighted greed and rampant capitalism with no consideration toward it's workability for the people or the possibility of adapting it when it's failure showed itself evident.

This is the legacy we leave our children.

And our "children's, children's, children".
Read the Article at HuffingtonPost

TARP Watchdog's Report: Treasury Misled Public On Bailouts

Uh...we have no "treasury" in the common understanding of the word.
Since 1913 when we embraced the Federal Reserve, our "treasury" has been reduced to an accounting firm that merely tracks the money that we ask the "Fed" to print up for us and the skyrocketing interest vs principle that we ( after 100 years) will never escape from under.
While the term "treasury" provides some illusion to our independant solvency as a nation and a people, it is hardly representative of vaults filled with precious metals and such that provides genuine solid worth to our country's dubious fortunes or the value of our currency.
We're in debt because we bought into more a than questionable financial arrangement with national (and now international) banking systems rather than maintain a "pay as you go with currency spent, for the equal value of currency held, and now the piper must be paid; in much the same fashion as paying off a mortgage on a house or in these times, facing foreclosure.
The banks aren't failing. The banks are the Federal Reserve, collectively.
It's the Federal Reserve that is failing because it's purpose has run it's course. It and we as a nation are over extended beyond any hope of making good on even the interest on our loans, leaving both the lender and the borrower unable to secure either payment or capital on debt(s) outstanding. We are living in an economic structure best portrayed as an open ended spiral moving downward.
But be sure. We unfortunately do not have a "treasury" per se. And that's the real problem.
Read the Article at HuffingtonPost

Newsweek's Krugman Cover Story: Obama's Loyal Opposition

Dear Mr. Krugman,

"Lead, follow or get the hell out of the way!"
We have a hemorrhaging economy and our newly elected President is doing his best to repair it.
Your opinions to the contrary and steady flow of criticism is unwarranted, counter productive and does no good what so ever for the patient.
Be on your way, Sir.

About Barack Obama
Read the Article at HuffingtonPost

Fun Facts From Zach's Almanac: Oh, ABC you've done it again!

Having Bush surrounded by a bunch of exceedingly happy guys in choir robes who have nothing to do with those involved in the business end of the A.P.E.C. conference and having it accompany a headline espousing that "Leaders' Predict Economic Crisis Can Be Fixed in 18 Months" is about one of the best pieces of subliminal journalism (intended or otherwise) I have seen in quite some time.
Oh, in the course of the Bush Administration, 9/11 and the Iraq Invasion and occupation, I've seen some real doozies...but this was Uber-entertaining.
Adding to the illusory photo was the caption:
"APEC leaders: "We have already taken urgent and extraordinary steps to stabilize our financial... (sectors and strengthen economic growth.")"
Stop it ABC! I'm dyin' over here!
Now, take me to the river and wash me in the water!