By the time most people see the giant systemic "two-by-four" being swung at their collective heads, it will be too late to duck - Dave in Denver, circa 2005...That systemic two-by-four is getting a lot closer - Dave in Denver, 3/5/2013A long-time colleague sent me an article about a former Countrywide Mortgage employee turned whistle-blower. The whistle-blower was completely amazed that Angelo Mozilo, Countrywide's CEO and the country's pioneer in the massively fraudulent mortgage bubble, was never put on trial. Not only that, but the whistle-blower's $3+ million court case award for wrongful termination from Countrywide/Bank of America was recently overturned by California's Appellate Court. You can read about just how corrupt Countrywide was and other sordid details here: LINK
My response to the above article was this:
Don't hold your breath on the Judiciary Committee hearing of Holder. Holder will be well rehearsed and we already know what the questions will be. Don't forget, Holder is the guy who wrote the Marc Rich pardon letter that Clinton signed as he was walking out of the Oval Office for the last time.I bring this up because Charles Hugh Smith hits the cover off the ball with an article in which he outlines some of the key sources of "energy" fueling that two-by-four being swung at our collective heads:
This country is completely corrupted from State legislatures to the Supreme Court. Look at that verdict overturn in the article. Corrupted court system. The apparatus has been put in place, for those in a position to do so, to steal everything before the country collapses. IRA/401-k's are next.
The bottom line is that the citizens of this country are ultimately to blame. Guys like us sit around and dig up the evidence, yet we do nothing. 95% of the middle class could give a shit. They're robotic drones who basically go through the day lapping up what's fed to them and losing themselves in prime time garbage tv.
Anyone who thinks our system can be saved is hopelessly naive or tragically ignorant.
At ~18% of the labor force employed part-time, those 50% grads who do not obtain full-time private employment outside health care must compete for the 1 of 5 jobs in the labor force that are part-time, implying that no more than 59-60% of college grads will obtain ANY employment under current labor market conditions, leaving ~40% of grads with no prospects for earning purchasing power.This is a MUST-READ article that you should be able to knock off tonight in between a couple commercial breaks during "American Idol:" The Hollowing Out Of Private Sector Employment
Is it a surprise why student loan delinquencies have begun to soar? How will the housing market grow with as many as 40-50% of high school and college grads unemployed, underemployed, or unemployable?
From my experience, perhaps as few as 10% of the population know the information above. Most in the top 10% don't know because they are largely unaffected and thus don't care and will not be persuaded that they should care until they have to (i.e. when their children experience the aforementioned conditions).