The Middle Class Needs More Than Talking Points

Lawmakers on both sides of the aisle have been talking a lot about the middle class. But, that talk is cheap as long as their in bed with Wall Street.

Six years ago, our economic system came crashing down thanks to those degenerate gamblers and their bankster buddies. That crash left 23 million Americans without jobs and got one million families kicked out of their homes, but our legislators are actually helping Wall Street set up this same house of cards all over again.

According to a recent article by former Labor Secretary Robert Reich, “the middle class can't be saved unless Wall Street is tamed.” As Secretary Reich explains, the banks that brought down our economy have only gotten bigger since the financial crash.

Back in 2000, the five largest banks in our country held 25 percent of all America's banking assets, and today they hold almost half. Meanwhile, the Federal Reserve continues to keep interest rates near zero, which means that Wall Street can borrow money cheaper than ever, and use it to gamble on high-risk bets.

Too-big-to-jail banks like Goldman Sachs and JP Morgan worked hard to keep financial regulations like Dodd-Frank from having any real bite, and now they've managed to wipe out what little protection that regulation provided to the American people.

Members of Congress and 2016 presidential hopefuls have been swept up in a wave of talking points about saving the middle class, but they're not doing anything to stop the monster that destroyed it in the first place. And, they're unlikely to do anything that might weaken the stream of corporate cash that flows in to their campaigns.

Until our legislators put Main Street ahead of Wall Street, they won't risk upsetting the banksters, and all their claims about saving the middle class will be nothing but talk. It's up to us to remind them that talk is cheap, and we want to see some action when it comes to regulating Wall Street.

Comments

mathboy's picture
mathboy 5 years 34 weeks ago
#1

First paragraph: "they're" not "their".

Intermittent Instigator's picture
Intermittent In... 5 years 34 weeks ago
#2

The middle class, lower class, and upper class (except for the gangsters) need:

(per this film (almost three and one half hours long, but interesting))

"in order to honor the memory of President Kennedy, Americans are now duty-bound to finish his work by finally ending the world-wide tyranny of the CIA."

https://www.youtube.com/watch?v=U1Qt6a-vaNM

What if some high school teacher were to show this documentary to his or her American History class, **** big to-do??? **** Maybe the subject of more debate and discussion than "American Sniper"

mathboy's picture
mathboy 5 years 34 weeks ago
#3

When you're talking about feudalism, what you probably mean is manorialism. Feudalism was the system of land grants among the nobility. Manorialism was the legal system whereby land owners made the rules, and much of the peasantry was tied to the land as serfs.

According to Wikipedia, "feudalism" is no longer considered a workable academic term.

sandlewould's picture
sandlewould 5 years 34 weeks ago
#4

As per the 2nd to last caller on Thom's show today...I posted a link to the documentary he referenced on Thom's live blog page last week.

https://www.youtube.com/watch?v=U1Qt6a-vaNM

Well worth the time.

Also, in reference to Thom's last caller and the real reason for falling oil prices...excellent interview on PRN

http://prn.fm/global-research-news-hour-looming-economic-collapse-scenar...

Mark J. Saulys's picture
Mark J. Saulys 5 years 34 weeks ago
#5

I suspect this video, while having some truth, may be going more than a little too far. IOW, I suspect that EVERYTHING isn't a rich man's trick.

Aliceinwonderland's picture
Aliceinwonderland 5 years 34 weeks ago
#6

Mark, could you translate "IOW" for me? Sorry, I only speak English; I don't speak acronym language.

As to the topic at hand, weak and corrupt leadership got us in this mess and I don't see much grounds for hope that they'll get us out of it. Obama had an opportunity to bring those bankster sleazebags to task for their crimes, and he blew it off; just like he blew off the opportunity to prosecute the boy king and his criminal cabal. So the war crimes continue unabated as we teeter on the edge of another economic meltdown, while millions more stand to lose their homes and wind up on the streets.

I just caught wind that Hillary Clinton is about to announce her candidacy for the oval office. Swell.

I hate to be the bearer of bad news, but with these worthless slackers steering the boat, we’re in for worse times ahead. Every president since Carter has furthered the damage to this country and people’s lives, and I don’t see it ending any time soon. If ever. - AIW

Hephaestus's picture
Hephaestus 5 years 34 weeks ago
#7

Economy -

America is not alone on the economic downward spiral... you are draging everyone down with you... I believe intentionally!

'We the people' do not control America as intended originally... get a grip! Try to understand!

War

War is an act of intention... America does intend... and does so proactively under a guise... by fooling the populace and other propaganda

They like this because they can...

Bully and create destruction and go on to rape, pilage, steal, burn and destroy

Then possess a piece of land or obtain infuence!!

Having abused the humanity there they are filled with joy

Sad!

stecoop01's picture
stecoop01 5 years 34 weeks ago
#8

As long as washington politcos think of us as "low life scum", nothing will change, except for the worse. The time is rapidly approaching when us low life scum will have to rise up and "scumify" washington.

BTW, what does "IOW" mean?

stecoop01's picture
stecoop01 5 years 34 weeks ago
#9

Nevermind, "IOW" means "In Other Words".

Mark J. Saulys's picture
Mark J. Saulys 5 years 34 weeks ago
#10
Quote AIW:

Mark, could you translate "IOW" for me? Sorry, I only speak English; I don't speak acronym language.

IOW means "in other words".

2602SE28thPl. 5 years 34 weeks ago
#11

I liked Reich's blog, and his 4 concluding recommendations:

1. Limit size of biggest Wall St. banks.

2. Resurrect Glass-Steagall.

3. Define insider trading as "using information any reasonable person would know is unavailable to most investors.

4. Close revolving door between the Street & the US Treasury

Question: Must Bernie Sanders or Elizabeth Warren be elected, alongside a Senate and a House with Democratic majorities, before this can be accomplished?

Intermittent Instigator's picture
Intermittent In... 5 years 33 weeks ago
#12

Was so engrossed in watching this thing...

(ok "EVERYTHING" might be an overstatement)

https://www.youtube.com/watch?v=U1Qt6a-vaNM

...missed Friday's show entirely (happy to learn "Brunch w/Bernie" clip here).

Got up pre-dawn just to hear 2nd to last caller on re-broadcast...

...Documentary left little doubt that none other than GHWPoppy was right there on the Plaza... Mob in it, sure... hope Thom does "look into"/watch this thing (lots in it for a history buff...(learned that the same Dulles boy who JFK fired yet who (strangely) chaired the Warren Commission also helped draft the Treaty of Versailles --- and more) and that more discussion to follow... Of course, the level of ruthless depravity on the part of the gangsters (...quite a few Bushes over the years...) might give anyone pause... (or make good people like Bernie Sanders or Elizabeth Warren think long and hard before...)

Proveloper's picture
Proveloper 5 years 33 weeks ago
#13

Anything Goes Friday – Depression and sugar

Tom,

You would be well served to visit the Walsh Research Institute website at http://www.walshinstitute.org/ and peruse the material under the “Our Work” tab.

Better yet, read Dr. Walsh’s Book, Nutrient Power; Heal Your Biochemistry and Heal Your Brain (ISBN978-1-62087-258-1), and then invite him to be a guest on your program.

BTW, Dr. Walsh has accumulated a database of laboratory tests of 30,000 mental health patients and controls, more than 3 million chemical test results for patients diagnosed with schizophrenia, depression, ADHD, depression, autism, etc. and an additional 2 million blood/urine/tissue chemistries from research experiments.

He was more notably the research director of the Beethoven Research Project at the U.S. Department of Energy's Argonne National Laboratory that studied the relic remains (bone and hair samples) of Ludwig Von Beethoven and found that Beethoven had elevate lead levels, which could explain the poor health he suffered throughout his adult life.

Dr. Walsh is now involved in outreach to patients and physicians, and conducting physician trainings with his team of medical practitioners.

tom kauser 5 years 33 weeks ago
#14

the middle class let the Bankers down by stopping paying on assets that lost most of their value in the process? if it wasnt for the Fed and the Bankers employing extreme measures used during the depression your fiscal irresponsibility would have sunk this country! it was a breath of fresh air to see the Fed and its members rally together to save America!

tom kauser 5 years 33 weeks ago
#15

you know a better narrative than please KEEP IT TO YOURSELF the country has moved on ? there are only too classes 1. lower parasites 2. high road country savers?

Aliceinwonderland's picture
Aliceinwonderland 5 years 33 weeks ago
#16

Tom Kauser -- HUH? Are you serious?!

chuckle8's picture
chuckle8 5 years 33 weeks ago
#17

mathboy -- I thought when one uses wikipedia as a reference, then that person loses all credibility.

chuckle8's picture
chuckle8 5 years 33 weeks ago
#18

AIW -- I think tom kauser may be trying to replace Steven Colbert.

RichardofJeffersonCity's picture
RichardofJeffer... 5 years 33 weeks ago
#19

Why must we wait on politicians? It is time for the people of "Main St.", which doesn't exist anymore, to organize into Democratic Unions. Let us stop pandering to the political class, and organize into massive democratic intuition - Then we could start dictating our demands to Congress instead of hoping a politicians will do the $$$right$$$ thing for the US citizenry.

Intermittent Instigator's picture
Intermittent In... 5 years 33 weeks ago
#20

I second that (RichardofJeffersonCity's comment #19).

Of course, with our system of representative democracy, we still need representatives/political leaders... (it's high time the honest politicians (not always an oxymoron) lead in getting something new and different off the ground - a not-for-sale populist political movement - Real Democracy)

mathboy's picture
mathboy 5 years 33 weeks ago
#21

chuckle8 @ 17 -- I cited my source properly, so that everyone could take it how they want. If you doubt the information you can, as always, do your own research. It seemed important to mention, but I didn't have time to dig deeper.

chuckle8's picture
chuckle8 5 years 33 weeks ago
#22

Rich of J and Intermit -- re #19 -- If 83% of the populace doesn't even know that the repugs controlled the house in the last congress, how are you going to get them to the voting booth or main st?

Intermittent Instigator's picture
Intermittent In... 5 years 33 weeks ago
#23

chuckle8 - re #20 - the good news is that many of that 83% are also likely in the 67% (or whatever) that doesn't even bother voting. Thinking that if people actually had something - a party, platform, agenda, movement, that they knew was working to advance their interests,.. (not just the "special" interests) ...they might get more involved... (???)

RichardofJeffersonCity's picture
RichardofJeffer... 5 years 33 weeks ago
#24

chuckles, that's the real trick isn't it. I have ideas on the subject of creating some kind of grassroots movement, but I've not inspired much buzz with those ideas so far.

I wasn't talking voting as a solution to our problems; however, my ideas would still require mass participation in order to succeed. I was thinking more of people based democratic unions, organizations and institutions that would counter limited representative government here in the US. Using collective people power v. the financial power of wealthy elites.

RichardofJeffersonCity's picture
RichardofJeffer... 5 years 33 weeks ago
#25

Intermittent in..., Without well organized democratic organization, institution or union based in public consent, the dictates to politicians will remain in the hands of the well organized, well funded and deeply committed wealthy elites and their functionaries.

Trump has told us how he and the Republicans plan to steal this election: can we stop him and save our republic?

Thom plus logo Donald Trump became president by exploiting a loophole called the Electoral College. The majority of Americans did not want him or vote for him as president, but he's there anyway.

Now he's planning on using a different loophole, the 12th Amendment, to hang onto power.
From Screwed:
"I think many of us recognize that for all but the wealthiest, life in America is getting increasingly hard. Screwed explores why, showing how this is no accidental process, but rather the product of conscious political choices, choices we can change with enough courage and commitment. Like all of Thom’s great work, it helps show us the way forward."
Paul Loeb, author of Soul of a Citizen and The Impossible Will Take a Little While
From Screwed:
"If we are going to live in a Democracy, we need to have a healthy middle class. Thom Hartmann shows us how the ‘cons’ have wronged this country, and tells us what needs to be done to reclaim what it is to be American."
Eric Utne, Founder, Utne magazine
From Screwed:
"Hartmann speaks with the straight talking clarity and brilliance of a modern day Tom Paine as he exposes the intentional and systematic destruction of America’s middle class by an alliance of political con artists and outlines a program to restore it. This is Hartmann at his best. Essential reading for those interested in restoring the institution that made America the envy of the world."
David C. Korten, author of The Great Turning and When Corporations Rule the World