The deepest recession in modern times has sharply increased the ranks of the poor during the past year, with 1 in 7 people in America officially counted as living in poverty.
The news from a US Census Bureau report released Thursday underscores how deeply the Great Recession has affected the nation's standard of living. The key findings of report, which compared income, poverty rate, and health-care insurance coverage in 2009 with 2008 numbers, include the following.
1) Some 43.6 million people were living in poverty last year - the highest number since 1959, five years before President Lyndon Johnson declared his War on Poverty. The poverty rate was 14.3 percent, up from 13.2 percent in 2008 and the highest level since 1994. Hispanic households took the hardest hit: Their poverty rate rose 2.1 percent from 2008's level, compared with a 1.1 percent jump in the rate for blacks and whites.
2) A record number of Americans, 50.7 million, were not covered by health-care insurance in 2009. At the same time the survey was being taken, Congress passed President Obama's contentious health-care reform law.
3) The median household income was $49,800 last year, about the same as in 2008. This "hold steady" figure for income may reflect the fact that many people were helped by the government safety net, such as unemployment insurance, which Congress repeatedly extended and which kept some 3.3 million people out of poverty, according to the Census data...
The Census Bureau says that about 43.6 million people, or 1 in 7, were in poverty last year. That's up from 39.8 million, or 13.2 percent, in 2008.
..To again quote Jim Sinclair at jsmineset.com: "BP is the primary player on the long-end of the energy curve. How exposed are Goldman sub J. Aron, Morgan Stanley and JPM? Probably hugely. Now credit has been cut to BP. Counter-parties will not accept their name beyond one year in duration. This is unheard of. A giant is on the ropes. If he falls, the very earth may shake as he hits the ground. As we are beginning to see, the Western pension structure, financial trading and global credit are all inter-twined. BP is central to this, as a massive supplier of what many believe(d) to be AAA credit. So while we see banks roll over and die, and sovereign entities begin to falter? we now have a major oil company on the verge of going under. Another leg of the global economic "chair" is being viciously kicked out from under us..."
..The budget projects that the deficit will peak at nearly $1.6 trillion in the current fiscal year, a post-World War II record, and then decline but remain at economically troublesome levels over the remainder of the decade. In the coming fiscal year 2011, which begins in October, the projected shortfall would be under $1.3 trillion.
Over 10 years, according to the administration, the budget would save an estimated $1.2 trillion, mainly by ending the Bush tax cuts for the richest Americans and freezing some domestic spending for three years. But that total is roughly one-fifth of the size of the debt that will pile up from now to 2020, the budget shows...
"When citizens are convinced that interest - which ought to be correctly called usury - on money is necessary, they accept without question the current state of violence, war, poverty, scarcity and lack that continues to dominate the world in a negative fashion as we progress into this 21st Century."
This note by Tom Kennedy clearly exposes the role of and function of interest (usury) in economics and elucidates the primary control tactic by the vested interests...
Excepts of Congressman Ron Paul (R-TX) from the documentary "Fiat Empire." Dr. Paul discusses the origins, operations and results of the Federal Reserve System and fiat currency on the U.S. and global economy.
James Carville, Bill Clinton's campaign manager is cited as inventing the quote: "It's the economy, stupid." This became the mantra for Bill Clinton's 1992 presidential campaign. It would have been more appropriate to post this sign at Clinton's headquarters: "It's the usury, stupid." I'm wondering if any candidates in this 2006 federal election in Canada will adopt the mantra: "It's the usury, stupid." There may be one candidate who will do so!
Due to the work of many competent researchers during the latter years of the 20th Century, it has now become apparent that "it's the usury, stupid." To fully understand the nature of any modern or historic economy one must be re-educated about the design flaw of usury and its function in modern orthodox economics.
Since the early 1980's, a healthy economic environment has been created in many communities in Canada, the United States and elsewhere where usuryfree, mutual credit systems have been implemented. It seems that when the function of usury is eliminated, these faltering local economies are revitalized.
Economists who follow conventional economies continue to make errors about the cause of inflation in spite of the fact that during the 1980's, John 'The Engineer' Turmel from Ottawa, Ontario, Canada proved conclusively that inflation is directly caused by the design flaw of usury.
Without a doubt, during the 20th Century, there was a misallocation of research dollars in matters relating to economics, just as there was a similar misallocation of research dollars in matters relating to energy, biology, health and wellness, metaphysics, spirituality etc.
When citizens are convinced (by mind-control) that interest - which ought to be correctly called usury - on money is necessary, they accept without question the current state of violence, war, poverty, scarcity and lack that continues to dominate the world in a negative fashion as we progress into this 21st Century.
Since the modern dawning of the Age of Usury Free Living, in the early 1980's when Michael Linton created the usuryfree LETS (Local Employment Trading System) software, we have an abundance of proof positive that we no longer need to be subservient to the banking power that has been ruling this world for centuries. We can now create and spend our own currency for FREE instead of using their (the bankers') currency and agreeing to pay them a FEE (Usury).
The world of usury free creatives is now expanding as more and more people experience the reality of usuryfree living as they learn to acquire the products and/or services for their personal, family and business needs by negotiating trades locally by using a usuryfree community currency.
Why doesn't the Court of Public Review (the common people) know that the experience of usury free living is now a distinct possibility?
The answer is because the mainstream print and electronic media effectively controls the news. For example, the media distorts the meaning of these two key words: 'correlation and causation.' It's one thing to link interest (usury) to an economic malaise, it's quite another thing to unequivocally state that usury is the direct cause of the ever-present shortage of money that afflicts modern society. To do so it to reveal that usury is a direct, controlling lever that is causing the malfunction on our orthodox, economic machine.
An analogy is appropriate to explain. Let's begin the analogy by asking this simple question: "Does the ignition key control your vehicle?" Some people might answer 'yes' because they know that the key is needed to start the vehicle. The question repeated is: "Does the ignition key actually control the vehicle?"
Consider that if the ignition key did control the vehicle no driver would be needed. In truth, the key is 'correlated' with the control of the vehicle. The driver who turns the key in the ignition actually controls the vehicle by driving it. Similarly, specific economic elements are correlated with the behaviour and characteristics of the complete economic organism.
However, the economic organism does not malfuction until something triggers it. So what activates the shortage of funds in our orthodox economic system? The answer is elegantly revealed in John 'The Engineer' Turmel's 1991 paper entitled 'The Affidavit and Ballad of the Banking Systems Engineer.'
NEWS BRIEF: "US Fed chief tries to stem oil worries", By Adam Porter in Perpignan, France, reprinted by Al Jajazeera News, April 8, 2005
"Alan Greenspan, the chairman of the US Federal Reserve, has sought to stem worries over spiraling energy prices, saying difficulties associated with inadequate domestic supplies will eventually be resolved ... Indeed, the process is already under way ... Greenspan also said investment was needed to boost production ..."
Remember this whenever you hear scary economic news: check the rest of the planned disasters to see how close we are to them occurring, for all these planned disasters are designed to happen as a package -- together. Indeed, the entire disaster scenario I have listed, above, is designed to occur within 13 weeks (91 days), according to former Satanist, Doc Marquis. Until then, Americans must be kept "feeling prosperous".