Thursday, January 2, 2014

The facts show that the richest Americans and the biggest businesses have been the main - perhaps only - beneficiaries of the massive wealth gain over the past five years.

Anyone reviewing the data is likely to conclude that there must be some mistake. It doesn't seem possible that one out of twenty American families could each have made a million dollars since Obama became President, while the average American family's net worth has barely recovered. But the evidence comes from numerous reputable sources.
Some conservatives continue to claim that President Obama is unfriendly to business, but the facts show that the richest Americans and the biggest businesses have been the main - perhaps only - beneficiaries of the massive wealth gain over the past five years.
1. $5 Million to Each of the 1%, and $1 Million to Each of the Next 4%
From the end of 2008 to the middle of 2013 total U.S. wealth increased from $47 trillion to $72 trillion. About $16 trillion of that is financial gain (stocks and other financial instruments).
The richest 1% own about 38 percent of stocks, and half of non-stock financial assets. So they've gained at least $6.1 trillion (38 percent of $16 trillion). That's over $5 million for each of 1.2 million households.
The next richest 4%, based on similar calculations, gained about $5.1 trillion. That's over a million dollars for each of their 4.8 million households.
The least wealthy 90% in our country own only 11 percent of all stocks excluding pensions (which are fast disappearing). The frantic recent surge in the stock market has largely bypassed these families.
2. Evidence of Our Growing Wealth Inequality
This first fact is nearly ungraspable: In 2009 the average wealth for almost half of American families was ZERO (their debt exceeded their assets).
In 1983 the families in America's poorer half owned an average of about $15,000. But from 1983 to 1989 median wealth fell from over $70,000 to about $60,000. From 1998 to 2009, fully 80% of American families LOST wealth. They had to borrow to stay afloat.
It seems the disparity couldn't get much worse, but after the recession it did. According to a Pew Research Center study, in the first two years of recovery the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%. And then, from 2011 to 2013, the stock market grew by almost 50 percent, with again the great majority of that gain going to the richest 5%.
Today our wealth gap is worse than that of the third world. Out of all developed and undeveloped countries with at least a quarter-million adults, the U.S. has the 4th-highest degree of wealth inequality in the world, trailing only Russia, Ukraine, and Lebanon.
3. Congress' Solution: Take from the Poor
Congress has responded by cutting unemployment benefits and food stamps, along with other 'sequester' targets like Meals on Wheels for seniors and Head Start for preschoolers. The more the super-rich make, the more they seem to believe in the cruel fantasy that the poor are to blame for their own struggles.
President Obama recently proclaimed that inequality "drives everything I do in this office." Indeed it may, but in the wrong direction.
Paul Buchheit
Paul Buchheit is a college teacher, an active member of US Uncut Chicago, founder and developer of social justice and educational websites (UsAgainstGreed.org, PayUpNow.org, RappingHistory.org), and the editor and main author of "American Wars: Illusions and Realities" (Clarity Press). He can be reached at paul@UsAgainstGreed.org.
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Woman sues Allegheny County over jail injuries that resulted in amputation

 

File:Hinged Handcuffs Rear Back To Back.JPG
Image Source  :  Wikimedia . Org

Author  Skiddie2003


Post-Gazette.com

A Ross woman sued Allegheny County today, claiming that sheriff's deputies injured her arm and the jail's former medical provider ignored her complaints, resulting in amputation.
Amy J. Needham, 35, of Ross, was arrested by county sheriffs on April 2, according to the complaint. Her attorney, Marvin Leibowitz, said she was the subject of a warrant because she missed a preliminary hearing on a charge that was ultimately reduced to a disorderly conduct.
When sheriff's office employees arrived, Ms. Needham said she was using the bathroom, but they broke down the bathroom door, according to the complaint. They shocked her with a Taser, applied arm bars and wrist locks, and put on handcuffs "that were too tight," the complaint said.
That treatment, according to the complaint, caused "compartment syndrome," which is increased pressure in a muscle compartment that can damage both muscles and nerves.
Over the course of around a week in jail, according to Mr. Leibowitz, Ms. Needham made 16 requests to see a doctor, but was denied. She was finally hospitalized at UPMC Mercy where her arm was amputated above the elbow, according to the complaint.
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Allegheny County sheriff responds to lawsuit from Ross amputee

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Wednesday, January 1, 2014

A banker, Aubrey Lee Price, who vanished in an apparent suicide in 2012, wanted by the FBI for wire fraud has been arrested in Georgia after being pulled over for a minor traffic violation


Caught by his tinted windows: 'Dead' banker arrested on $20m fraud charges 18 months after his apparent suicide

  • Aubrey Lee Price, 47, was arrested on Wednesday after pulled over on a minor traffic violation in Georgia
  • He had been missing since June 2012 when he had told family that he was going to jump off ferry in Key West, Florida
  • Wrote 'suicide' note admitting he had forged documents to hide losses
  • A Florida judge declared Price legally dead a year ago, but the FBI had continued to search for him
By Daily Mail Reporter and Associated Press Reporter
|


A banker who vanished in an apparent suicide in 2012 and was wanted by the FBI in connection with a $20 million wire fraud case has been arrested in Georgia after being pulled over for a minor traffic violation.
Aubrey Lee Price, 47, was arrested after being stopped for a tinted window violation on Interstate 95 by members of the Glynn County Sheriff's Department on Wednesday.
Officers said that it was clear Price was giving them false information during the stop and they were soon able to determine that he was wanted by the FBI.
Officers said that it was clear Price was giving them false information during the stop and they were soon able to determine that he was wanted by the FBI
Aubrey Lee Price, 47, was arrested after being stopped for a tinted window violation on Interstate 95 on Wednesday by members of the Glynn County Sheriff's Department
Back form the dead: Former bank director Aubrey Lee Price was caught by police on Wednesday, right, after he had been missing since June 2012, when he had told family members he was going to commit suicide

His arrest comes more than a year after a Florida judge had declared Price to be legally dead.
Despite the judge's ruling, the FBI had continued to search for him and had offered a reward of up to $20,000 for his capture. 
Price is due to make his initial appearance before a federal judge in Brunswick on Thursday.
He disappeared in June 2012 after sending a rambling letter to his family and acquaintances that investigators took to be a confession.
Raid:
Raid: Officials believe that Price raised $40million from more than 100 investors in Georgia and Florida through an unregistered investment fund that he managed

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Wall Street posts record gains as millions of Americans face a year of more cuts



- Lauren McCauley, staff writer
(Photo: Zoonabar/ cc via Flickr)Bankers on Wall Street rang in the final hours of 2013 with gains unseen in almost twenty years. However, for roughly half of America, these stock market highs mean nothing as they face a new year with little work and even less of a safety net.
"Never, I don't think, in recent history have you had unemployment this chronically high for so long with the market having done this well," Roben Farzad, an economics writer and contributor to Bloomberg's Businessweek, said on PBS Newshour Tuesday.
"There's a stat that Obama's bull market just beat Ronald Reagan's. I dare say, if you canvass the man on the street, no one would guess that we beat the decade of decadence already. You're certainly not feeling it out there," he continued.
At the end of the day Tuesday, the Standard & Poor index closed with a nearly 30 percent gain, its best since 1997. The Dow Jones Industrial Average also closed at a record high, reaching 16,576.73, up 26.5 percent on the year—marking the largest annual jump since 1996.
And, according to the Wall Street Journal, when dividends are taken into account, stocks posted their best returns since 1995.
However, for the half of Americans who avoid or cannot afford to dally in the stock market, these gains are inconsequential. With the unemployment rate currently near 7 percent, it's clear that many of these corporate gains have not had any positive impact on working people.
As corporate profits after taxes have grown 30 percent since 2007 and the number of jobs is still below its pre-recession level, Farzad asks: "At what point do you see companies feeling so flush, so hale that they see their stock prices and market capitalizations up that they have to go out and hire?"
As Huffington Post reporter Mark Gongloff points out, "corporate profits are soaring largely because companies have been squeezing costs—especially labor costs."
With a scant rise of just 2.1 percent, hourly wages have "barely budged since the market bottomed in 2009," Gongloff reports, "while the Dow has skyrocketed 153 percent."
And for the "man on the street," the New Year will bring changes of another measure.
On Saturday, emergency federal unemployment benefits were allowed to expire for 1.3 million people who have been unemployed more than six months.
"These are precisely the jobless who will suffer most from a cutoff, since they have been scraping by on unemployment checks for so long that their financial situations are already precarious, if not dire," writes Washington Post columnist Eugene Robinson.
Compounding these "dire" financial straits, 2013 also saw the gutting of essential social safety nets.
In November, food stamp benefits were slashed for an estimated 48 million people, including 22 million children, by an average of 7%.
As The Guardian's Karen McVeigh reported last week:
As these cuts begin to bite, even harsher reductions are in prospect. Republicans in the House of Representatives have proposed $38bn cuts over 10 years, in their latest version of a long-delayed farm bill that would also require new work requirements and drug tests for food stamp recipients.
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Life in the Emerging American Police State: What’s in Store for Our Freedoms in 2014?



(Image: Jared Rodriguez / Truthout)

.....

The Rutherford Institute

By John W. Whitehead
December 30, 2013


“Those who cannot remember the past are condemned to repeat it.”—George Santayana, The Life of Reason, Vol. 1
In Harold Ramis’ classic 1993 comedy Groundhog Day, TV weatherman Phil Connors (played by Bill Murray) is forced to live the same day over and over again until he not only gains some insight into his life but changes his priorities. Similarly, as I illustrate in my book A Government of Wolves: The Emerging American Police State, we in the emerging American police state find ourselves reliving the same set of circumstances over and over again—egregious surveillance, strip searches, police shootings of unarmed citizens, government spying, the criminalization of lawful activities, warmongering, etc.—although with far fewer moments of comic hilarity.
What remains to be seen is whether 2014 will bring more of the same or whether “we the people” will wake up from our somnambulant states. Indeed, when it comes to civil liberties and freedom, 2013 was far from a banner year. The following is just a sampling of what we can look forward to repeating if we don’t find some way to push back against the menace of an overreaching, aggressive, invasive, militarized government and restore our freedoms.
Government spying. It’s hard to understand how anyone could be surprised by the news that the National Security Agency has been systematically collecting information on all telephone calls placed in the United States, and yet the news media have treated it as a complete revelation. Nevertheless, such outlandish government spying been going on domestically since the 1970s, when Senator Frank Church (D-Ida.), who served as the chairman of the Select Committee on Intelligence that investigated the NSA’s breaches, warned the public against allowing the government to overstep its authority in the name of national security. Church recognized that such surveillance powers “at any time could be turned around on the American people, and no American would have any privacy left, such is the capability to monitor everything: telephone conversations, telegrams, it doesn’t matter. There would be no place to hide.” Recent reports indicate that the NSA, in conjunction with the CIA and FBI, has actually gone so far as to intercept laptop computers ordered online in order to install spyware on them.
Militarized police. With almost 13,000 agencies in all 50 states and four U.S. territories participating in a military “recycling” program, community police forces across the country continue to be transformed into outposts of the military, with police agencies acquiring military-grade hardware—tanks, weaponry, and other equipment designed for the battlefield—in droves. Keep in mind that once acquired, this military equipment, which is beyond the budget and scope of most communities, finds itself put to all manner of uses by local law enforcement agencies under the rationale that “if we have it, we might as well use it”—the same rationale, by the way, used with deadly results to justify assigning SWAT teams to carry out routine law enforcement work such as delivering a warrant.
Police shootings of unarmed citizens. Owing in large part to the militarization of local law enforcement agencies, not a week goes by without more reports of hair-raising incidents by police imbued with a take-no-prisoners attitude and a battlefield approach to the communities in which they serve. Sadly, it is no longer unusual to hear about incidents in which police shoot unarmed individuals first and ask questions later, such as the 16-year-old teenager who skipped school only to be shot by police after they mistook him for a fleeing burglar. Then there was the unarmed black man in Texas “who was pursued and shot in the back of the neck by Austin Police… after failing to properly identify himself and leaving the scene of an unrelated incident.” And who could forget the 19-year-old Seattle woman who was accidentally shot in the leg by police after she refused to show her hands? The lesson to be learned: this is what happens when you take a young man (or woman), raise him on a diet of violence, hype him up on the power of the gun in his holster and the superiority of his uniform, render him woefully ignorant of how to handle a situation without resorting to violence, train him well in military tactics but allow him to be illiterate about the Constitution, and never stress to him that he is to be a peacemaker and a peacekeeper, respectful of and subservient to the taxpayers, who are in fact his masters and employers.
The erosion of private property. If the government can tell you what you can and cannot do within the privacy of your home, whether it relates to what you eat or what you smoke, you no longer have any rights whatsoever within your home. If government officials can fine and arrest you for growing vegetables in your front yard, praying with friends in your living room, installing solar panels on your roof, and raising chickens in your backyard, you’re no longer the owner of your property. If school officials can punish your children for what they do or say while at home or in your care, your children are not your own—they are the property of the state. If government agents can invade your home, break down your doors, kill your dog, damage your furnishings and terrorize your family, your property is no longer private and secure—it belongs to the government. Likewise, if police can forcefully draw your blood, strip search you, and probe you intimately, your body is no longer your own, either. This is what a world without the Fourth Amendment looks like, where the lines between private and public property have been so blurred that private property is reduced to little more than something the government can use to control, manipulate and harass you to suit its own purposes, and you the homeowner and citizen have been reduced to little more than a tenant or serf in bondage to an inflexible landlord.
Strip searches and the loss of bodily integrity. The Fourth Amendment to the U.S. Constitution was intended to protect the citizenry from being subjected to “unreasonable searches and seizures” by government agents. While the literal purpose of the amendment is to protect our property and our bodies from unwarranted government intrusion, the moral intention behind it is to protect our human dignity. Unfortunately, court rulings undermining the Fourth Amendment and justifying invasive strip searches have left us powerless against police empowered to forcefully draw our blood, strip search us, and probe us intimately. For example, during a routine traffic stop, Leila Tarantino was allegedly subjected to two roadside strip searches in plain view of passing traffic, while her two children—ages 1 and 4—waited inside her car. During the second strip search, presumably in an effort to ferret out drugs, a female officer “forcibly removed” a tampon from Tarantino. No contraband or anything illegal was found.

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Japan's nationalist Prime Minister Shinzo Abe says the country's pacifist post-World War II constitution could be amended by 2020.


Abe says pacifist constitution to change

Updated: 17:17, Wednesday January 1, 2014

Abe says pacifist constitution to change
Japan's nationalist Prime Minister Shinzo Abe says the country's pacifist post-World War II constitution that limits its military to self-defence could be amended by 2020.

In a new-year comment published in the conservative daily Sankei Shimbun on Wednesday, Abe predicted the constitution 'will have been revised' by 2020, when Tokyo hosts the Summer Olympics.
His comments come days after he enraged Asian neighbours and disappointed Washington by visiting a Tokyo shrine honouring the country's war dead, including World War II leaders, seen abroad as a symbol of Japan's militaristic past.
'(By 2020), I think Japan will have completely restored its status and been making great contributions to peace and stability in the region and the world,' he said.
He added that Japan's elevated status could possibly help Asia become a 'balanced and stable region'.
Abe took power a year ago in an election landslide as Japan faced China's assertive military posture amid a territorial dispute over Tokyo-controlled islands.

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Happy New Year 2014 - Greetings of the New Year, Wishing you all success in the next.

Synchronized Fireworks Show - 4 [FWSIM]

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