What Happened to the American Dream

"The American Dream is that dream of a country where life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. It is a difficult dream for the European upper classes to interpret adequately, and many of us were even tired and distrustful of them. It is not a dream of cars and high wages merely, but a dream of social order to be in every man and woman in a position to reach full growth, iswhich they are capable of from birth, and the other recognized for what they are, regardless of the accidents of birth or position possible. "

- The historian and writer James Truslow Adams in his 1931 book Epic of America.

Mr. Adams pen these words in the middle of the Great Depression of the worst economic crisis in our history. It is time to reflect on these words, it seems that the "American Dream" is another slipping out of reach for most Americans. If the dream of a betterLost lives for our future generations is gone, it is really a turning point for our great Republic. The reason is the American dream is slipping away from running on the actions of politicians and bureaucrats running our government the Federal Reserve. With the ability that should have deserved a better life through their hard work, intelligence and integrity, achieve a higher position in the social order. Instead, our government will reward the Americans who have taken unacceptable risks,brainless decisions made and willingly chose the course of over-indebtedness on the social ladder to climb.

As the politicians scurry to "save" capitalism by the use of communist activities are discouraged, the Americans more and more. The definition of communism, according to Webster's is:

A system in which goods were jointly owned and available to all as necessary.

George Bush, Henry Paulson and Ben Bernanke have decided to use money from the vast majority of Americans wholived within their means use debt sparingly and worked hard to get ahead and give it to the terrible mistakes in our society. They have billions to banks that scooped operated their businesses is like gambling parlors. They have bought hundreds of millions of people, the houses without shoveled money into interest only mortgage loans and fraudulent applications. They are now being rewarded carmakers, which distinguished the wrong vehicles, do not work pay 30,000 workers per year, and only sinceable "to sell" cars, by and away with 0% financing for anyone who could sign on the dotted line. These acts of the definition of communism. We are now more than communist China.

There are commercial developers are trying to pony up to the taxpayer trough. These are huge amounts of selfish short-term debt paying too much for shopping centers, office buildings, hotels and apartment complexes. The rental income could never cover the interest expense on the debt. The only way they may be tooMoney was when the next moron developers were stupid enough to pay for the same assets too much. The market is flying high as the MBA geniuses on Wall Street by cutting their magic could work this debt in installments, as they receive investment-grade paper criminally negligent rated by Moody's and S & P, and sell it to gullible investors around the world .

The game is over. According to the Wall Street Journal, the $ 530 billion debt due in the next three years, with $ 160Billion in 2009 due. Of course, preserved in the America of today, enriches your bad business decisions of yesterday, executives such as Steve Roth of Vornado Realty and awards that are made from the business press aside. Just use the "Too Big to Fail" excuse, and all is well. American taxpayers come to the rescue. The American taxpayer gets screwed, no matter what we do. When the Americans do the right thing and cut their spending, retailers, shopping malls and hotels will lose money and developersare already demanding rescue operations. Our Communist Government will take the money from the innocent taxpayers and to the rich negligent developers.

Home builders are lobbying for a $ 22,000 loan for new home purchases. It is encouraging, of course, makes sense to build new houses when 2.5 million vacant homes and a 11 months supply of existing homes for sale. I see the future bailout demands of Rolex retailers, Porsche dealers, manufacturers and caviar.

My parents thoughtthat they have a better, richer and fuller life for her three children. They worked hard, sacrificed for their children, put their satisfaction, saved us through the Catholic school and has given us through the school. Hard working blue collar middle class parents from South Philly were able to have their children up in the American social structure, advance through their determined efforts. I have serious doubts as to whether my three boys to live a better life than working alone. I am sure thatMy grandson is not a better life than I do.

My parents wisely understood that shiny new cars and high wages do not determine who does what, achieved the American dream. My Dad worked for 42 years as a truck driver for ARCO, bought used cars his whole life, and never more than $ 32,000 per year. My parents have a three bedroom terraced house in Delaware County in 1955 and methodically, it paid out over 30 years. You have never borrowed against the house. We did not eat threetimes per week. We did not go on exotic vacations. Two weeks at the Jersey shore was just fine. My parents had high school degrees, but could the opportunity for me, brother and sister received college degrees and to make the next step in the American social order.

The American Dream was not founded on wealth and materialism. It revolves around a better life on the basis of the merits of your intelligence, hard work and contribution to the community of all Americans.It is a moral aspects, the "American Dream", which has lost over time. James Truslow Adams addressed in an essay he wrote in 1929:

There are obviously two of training. One should teach us how to live earn a living and the others. They should certainly not in the soul of a man who has the slightest idea of what is culture to be confused. For most of us it is important that we should make a living ... In the complications of modern life and with our increased accumulation ofKnowledge, it helps quite a few years of experience in far fewer years by studying for a specific track or compress profession in an institution, this fact should not blind us to another, and that is that while learning a trade or a profession, but are not always a liberal education as human beings.

The core of the problem is that Americans, with a strong sense of morality and care about what is right and wrong are no longer steer the American ship.Thomas Jefferson said that Americans had the right to "life, liberty and the pursuit of happiness" in the Declaration of Independence. The Government is committed to protecting life and liberty of the people. Representative Ron Paul speaks the truth about our government bluntly:

The obligations of our representatives in Washington to protect our freedom, not the pampered world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.

Ourcurrent system of incentives with the same rights of others not compatible. I've learned the difference between right and wrong from my parents. The Pursuit of Happyness by the Americans will go to the American Dream is off the track. The pursuit of excessive wealth, power, influence, luxury cars, has McMansions and electronic equipment for the happiness of the world in which we live today replaced. What necessary means to achieve these bastardized "American Dream" to (Nightmare?) Was theMantra of "Generation Me". Each disgraced CEO of recent years was a part of the baby-boom generation. Parents, schools, businesses, media and the government, the Americans have to learn how to make a living, but have a terrible job of teaching, as Americans did to live. The government and the Federal Reserve have warped American dream through the use of the insane taxes, promote fiscal and interest rate policy.

Federal Reserve Fraud

Thomas Jefferson, a wise man by most accounts, thoughtCentral banks is not a very good idea.

If the American people ever allow, private banks, the issue of their currency, first by inflation, then by deflation control, the banks and the companies that grow up to rob, to give them to people of all property until their children wake up homeless, on the continent their fathers conquered .... The issuing power should be borne by the banks and the people back, where it properly belongs. The modern theory ofPerpetuation of debt has drenched the earth with blood, and expressed its residents under stress is increasing.

We did not know Mr. Jefferson's prudent advice. The result for the American people has been sustained inflation that has destroyed the purchasing power of the dollar. It takes $ 1.00 per purchase, which cost 5 cents in 1914, a 95% loss of purchasing power since the founding of the Federal Reserve. Most of this loss in purchasing power since 1971 occurred. "Tricky Dick" Nixonthe country has the gold standard in 1971 and opened the bottle and let the inflation genie out. The uncontrolled issuance of debt by our government, facilitated by the Federal Reserve policy since 1971, has brought our great country to the brink of financial ruin. The organization, which has caused the problem, do not see this crisis looming, and is entirely in the containment of damage is not, takes actions that are wholly outside of its mandate, while the public say they have the answers.They have deceived the American public for 85 years through the use of creeping inflation, and now try to the world might be in their attitude Ponzi scheme be fooled for a while.

The Federal Reserve has been maintained in 1913 with the dual objective of maximizing employment and maintaining stables prices. New York Senator Elihu Root, saw in the vote against the creation of the Federal Reserve, a bleak vision of our future:

Gradually, the business expanded with easy money. Theinexhaustible reservoir of the Government of the United States setting up easy money, increase sales, increase business, more new businesses started, the spirit of optimism pervades the community. Bankers are not free of them. They are men. The members of the Federal Reserve Board will not be free of them. They are men .... Everyone is making money. Everyone is always successful. It goes up, the margin between costs and revenues growing smaller as a result ofOperation of the inevitable laws, until finally someone whose ruling was bad, someone whose capacity for business was small, fractions, and when he falls, he hits the next module in the series, and then another and another, and there you go the whole structure.

The concept of the formation of these central bank panics was happening to an end. So far they are 0 for 2 people. They were responsible in 1929 during the biggest banking panic in history. Tighten your actions in the 1930s and extended theDepression. Alan Greenspan and the Fed are the main cause for the current disaster. The absurdly low interest rates early in 2000 and the total lack of control over bank lending practices caused the biggest debt bubble in history. In September and October, the country experienced an electronic bank run. Americans lost confidence in law gegangenes all financial institutions and began to withdraw their money. The Federal Reserve is the only thing she knows how to do. Print money. It hasdoubled its balance sheet at $ 2.3 trillion.

The Federal Reserve is a privately controlled institution, which is essentially under the direction of the largest banks in the country. Whose interest you think you were facing? Zero interest rates penalize seniors savers to save reckless borrowers.

The only competent chairman of the Federal Reserve in the last 40 years, Paul Volcker, said of the actions of Ben Bernanke said last year.

TheFederal Reserve has judged it necessary, to certain measures which transcends to extend to the edge of their lawful and implied powers, in the process of long-embedded central principles and practices. What is dubious honor essentially a direct transfer of mortgage and mortgage-backed securities, an investment bank tree, the Federal Reserve seems to test the time to give free central bank mantra in times of crisis: at high rates against good collateral;To test the point of no return.

As these words of Mr. Volcker, were issued by the Federal Reserve has gone far over the legality and implied powers. Look at his record in recent weeks. It's more than doubled its balance sheet in recent months. As you can see, they have engaged in lending to financial institutions in the world. These loans will do with your money.

The Federal Reserve should be protecting people in the United States.Transparency is a function of financial systems and democracies, a key factor. Instead, Ben Bernanke is withholding tax, which banks borrow from the Federal Reserve and set up any collateral for the loans. They have borrowed more than 2 trillion U.S. dollars of your money with no accountability to the American taxpayer. Bloomberg News has sued the Federal Reserve, in order to obtain this information under the Freedom of Information Act. You are responsible for their actions, because they know that the collateral theyhave adopted, is worthless. These are criminal acts with the intent to deceive the American public. The government and the Federal Reserve, working for "We the People", not vice versa.

Thank You Sir, May I Have Another

Last week the Fed left its discount rate to .25%, the lowest in history. They also announced they would by all means are necessary to re-inflate our bubble economy. Deflation is not a bad thing for most Americans. Cheaper gas is nice, cheaper food is nicecheaper cars are nice, and flat-screen TVs are nice. For people and countries without debt deflation is just fine. That does not mean to describe the U.S. consumer or the U.S. government.

Deflation, if you are a country that has $ 10.6 trillion in debt, will destroy the debtor. That is why Mr. Bernanke has chosen to try and blow us out of this mess. As an expert on the Great Depression, Ben believes that there is fiscal and monetary expansion, the country saved. There is a considerable difference.As the crisis in the U.S. in1929, total U.S. debt as a percentage of GDP was affected by approximately 200% and we were a net exporter nation. We enter into this crisis with the total U.S. debt of more than 350% of GDP, and we have a trade deficit of 700 billion U.S. dollars.

The Federal Reserve and Obama administration are about to add trillions of debt that we make much debt already. The glossy James Grant summarizes the dilemma:

If the Fed will shiploads of devaluation, not to create U.S. dollars acquisitionInvoices, who will accept them? Who is funding the Obama threat of massive budget deficits? Who will) to finance America's annual surplus of consumption over production (after 25 more or less continuous years, almost a national trait? Inflation is a kind of state-sanctioned white-collar crime. Herumzuführen Every crime needs a nose. Now that the U.S. Federal Reserve announced its intention to deceive, where they will find their victims announced? The current permit policy, there are risks for the "creation" of a trillion orso the new currency every few months, but that tomorrow's concern is. At today's agenda is a deflationary abyss.

Foreigners have the buyers of 70% of newly issued debt securities in recent years. Has Ben Bernanke really believe that foreigners are willing to accept 2% interest for 10 years for bonds, whereas we print trillions of dollars new? The attack works on all of the deflation. It works so well that it lead to a crash of the U.S. dollar as foreigners begin to shundegraded currency. A bust ala Argentina and hyperinflation of the Weimar Republic is in our future. It's one thing certain. What will happen to surprise the Fed. They did not see coming, the credit crisis and not the inflation tsunami before it overtakes us. Economist Irwin Kellner know this will not end well. "While virtually no one raised the prices at today's depressed economy, all this liquidity quickly into an accident looking for a place to. happen "

The last 85 years so that our currency, which has tampered with a private bank has been one of several crises, failures and mismanagement. Ron Paul clearly articulates why the Federal Reserve has helped to destroy the American dream and must be abolished:

The abolition of the Federal Reserve allows Congress to assert its constitutional authority over monetary policy. Although the Federal Reserve policy harms the average American, they take these benefits in a position toAdvantage of the cycles in monetary policy. The greatest beneficiaries are those who learn about access to artificially inflated money and / or credit before the inflationary effects of policy influence on the overall economy. U.S. Federal Reserve actions also benefit big spending politicians, the inflated currency created by the central bank to use the true costs of the welfare-warfare state to hide. It is time for Congress to put the interests of the American people against the special interests and their own toAppetite for big government.

Government in Action

We have created a huge government agency called Homeland Security, at a price of $ 50.5 billion per year and employs 203,000 people as our response to 9 / 11 tragedy. How much would it cost to have installed a $ 39.99 Wal-Mart bolt lock on every cockpit cabin door every aircraft in the world before 9 / 11? There are approximately 20,000 commercial aircraft in the world. The cost would have 800,000 U.S. dollars and 9 / 11 would havebeen averted. Based on outstanding balance of government financial management ($ 1,200 WC) seats, we could simply assume that they are $ 1000 per cockpit door, instead it would cost $ 39.99. In this case, the bill would have been of 20 million U.S. dollars.

For a $ 20-million investment, we were 3,000 deaths in the WTC, 4500 deaths of American soldiers, 30,000 American soldiers wounded, many thousands of innocent Iraqis who turned $ 850 billion of taxpayers' money spent on funding the war on terror haveand the 50 billion U.S. dollars per year we spend on a vast state bureaucracy, does not make our lives safer or better in any way. Our government had the power, resources and the capacity for an ordinary dead bolt lock to install. They did not. Government fails because it is managed corrupt, incompetent, poor, and serve themselves.

We are pleased with the experience of the largest government party effort in the history of our glorious Republic. President Obama and his team of economic masterminds are preparing toborrows money and the country back to prosperity. Mr. Obama wants to create 3 million new jobs in 2009. Given that only 1.5 million unemployed in the construction field, it is uncertain how he will deal with all the cash, burger flippers, and Wall Street paper shufflers in developing the infrastructure of our country. The Obama's plan to spend $ 1 trillion to stimulate our economy in the 17,000 lobbyists in Washington, DC, as voracious swarms of locusts on a field ofCrops. It is the biggest pig roast in the history of our country. These lobbyists take advantage of the 3 billion U.S. dollars per year they spend) (bribery, in order to "influence" politicians, as if there were no tomorrow. "The escalating cost of the still-see-to-stimulus such as chum circle of lobbyists in the water to grab some taxpayer money for their clients," said Steve Ellis of Taxpayers for Common Sense, a watchdog group.

Examples of the kind of stimulus, we can look forward to after theLA Times, are as follows:

Instead wants to rebuild highways, a nonprofit group called Reconnecting America, the government on a "21st Century National Transportation focus system for urban transport and walking and biking trails.

The National Association. of Railroad Passengers is pushing for 10 billion U.S. dollars for intercity passenger rail projects.

The economy is looking for a series of tax breaks that he says will stimulate the growth and return money to deliver to the Federal treasury. It favorsinclude a tax rebate to middle-class taxpayers a substantial reduction in the corporate capital gains tax and a drastic reduction in the tax rate on earnings that companies in the United States received from foreign subsidiaries.

The housing industry wants all buyers receive a tax credit for buying a house, and the government subsidized mortgage rates down as part of a 'buy' program lowers the cost of credit.

The National Retail Federation suggests that sales tax holidaysheld in March, July and October 2009, each of 10 days. The cost of this program would be 20 billion U.S. dollars.

The National Automobile Dealers Association. looking for a tax break to encourage more people into cars and a "Cash-for-clunk buy" program, which older people trade in vehicles for helping new and have fuel-efficiency.

"The catfish industry on the brink of collapse," said Marty Fuller, the Catfish Farmers of America, referring to high feed prices and a rise in imports. Over 6000Jobs are at stake, especially in economically depressed areas in states like Arkansas, Mississippi, Alabama and Louisiana. Officials say the search for 50 million U.S. dollars in aid as an incentive.

Now that I know the catfish industry is safe, I can sleep better at night knowing that $ 1 trillion will not be wasted on something frivolous. You can be sure that the projects are no longer shocking to be openly discussed. They are through the foil on page 895 of the next bill. EachCongressman, Ron Paul is out, bought with goodies for their district.

Everyone knows that the master song

Poet and singer-songwriter Leonard Cohen captures the current mood of the country in his song "Everybody Knows. The financial and political game against the good guys manipulated. The poor remain poor and the rich get richer. The captain is your political leaders, fat, cat CEOs and investment professionals. The American ship of state isleak.

Everyone knows that the dice are loaded
All roles with their thumbs
Everyone knows that the war is over
Everybody knows the good guys lost
Everybody knows the fight was fixed
The poor stay poor, the rich get richer
That's how it goes
Everyone knows

Everyone knows that the boat is leaking
Everyone knows that the captain lied
Everybody got this broken feeling
Like her father and her dog just died

I am nowconvinced that the only qualification to become a CEO of a U.S. company to have courage. How else could you explain to demand John Thain that he will receive a bonus 10 million U.S. dollars from Merrill Lynch (MER) after leading, renowned business losses of $ 24.4 billion in the last four quarters? Steve Roth, CEO of Vornado Realty (VNO0, raked in $ 71.8 million last year as compensation. His company has ridden the wave of cheap credit in the past eight years. He brilliantly doubled the debt of hisBusinesses of $ 6.2 billion in 2005 to $ 12.9 billion in 2007. The company is dissolved leverage ratio of 54% to 68%. He has deals not make sense from a cash flow standpoint. His business plan was on the greater fool theory. Now he is the biggest fool. Its share price has fallen 46%. No bank is willing to lend a cent to a commercial developer. Commercial development Ponzi scheme will collapse next year. But do not worry. Steve and his colleagues are incapable of players want the United StatesTaxpayers to bail them out. In today's America, the taxpayer will be screwed back and keep the rich ruling elite, their place in the social order. The government has decided to ensure that you are the greater fool.

Thomas Friedman in a recent NYT article correctly assessed the corrupt financial system, we have to determine:

I have no sympathy for Madoff. But the fact is his alleged Ponzi scheme was only slightly more outrageous than the "legal" system that Wall Street was drivenby cheap loans, low and high standards of greed. What do you call to give a worker who is only down $ 14,000 a year a nothing and does nothing-to-pay-for-two-one years mortgage for $ 750,000 to buy the house, and then that mortgage bundling with 100 other bonds issued by Moody's or Standard & Poor's AAA rating, and then sell them to banks and pension funds around the world? That is, what did our financial industry. Is not this a pyramid scheme, then what?

The dice are loaded, and the fightfixed. Those who played by the rules, lived within their means and went to work every day, no flip condos, or use home equity to lease a Mercedes, is for those who cheated, lied to pay, and chamfered corners. This is how the American dream has changed in the American nightmare.

"American Dream" Redux - Patriots Needed

Below an email I received this week from a lady named Cindy to my last article on Bernie Madoff:

Mr. Quinn ... I just read your article andCould not agree more with you ... Perhaps a word of advice is to relieve my pain ... I am a single mother with 3 children, 23, 19, 16 .... I'm 52 made himself, and had my life to a comfortable level of success for my family get to ... For years I ran side by side account with Paine Webber, Merrill Lynch and Bernie Madoff. Amazingly, I met an associate of Madoff in a church in Fort Lauderdale and entrusted him with $ 10,000 16 years before .... Nothing posh ... Simply well ..... In the last 5 years, Madoffall carried out, so naturally I moved my accounts and fed my Madoff Feeder ... Now, $ 1.7M later did I am penniless ... I will therefore begin the closure of 3 of my investment properties and loose [sic] my primary home, I can no longer afford .... Why would a little guy like me should have in order to follow the SEC on a plot ... ohhh ... I'm sorry, we'll do better next time? ? suffer

Why is it OK for Madoff in his apartment from $ 10M to sit on bail, television and the Internet play? ... Why it's OKprovide for him the most powerful former SEC attorneys now in private practice, that his trial will be delayed for 3-5 years ... How can our government can let this happen ... How is ok to bail out Wall Street with $ 700B, while I stress out and cry like a baby about my loss ....

How is it to spend in order for Obama in Hawaii for Christmas with his family to live in a mansion $ 30M, while flying from NC to keep my sick mother to Fort Lauderdale and her daughter comfort .... As it is right that we do not XmasTree or gifts this year? ... How is it okay that my children and my confidence in humanity is shattered ....

I think we will survive, but as we do not know ....

The evil perpetrated by Bernie Madoff and his kind on Wall Street have disappointed the American public and have another game in the hearts of the American Dream driven. The greed, false promises and fraudulent conduct by investment professionals and CEOs bank has shaken the dreams of millions. The amoral visionhuge salaries, huge power, and elite social status has driven many to cheat the innocent.

When my father exceeds the threshold in the final phase of its ten years, ultimately losing battle against Alzheimer's disease, I can not help but contrast the compassion, care, compassion and love, the father of nurses, doctors, workers have experienced, and The ambulance driver with the coldness, selfishness, materialism, selfishness and narcissism of the Wall Street scam artists, power-hungry drawnPoliticians, bureaucrats and pompous government. Dedicated care nurses are paid a few thousand dollars per year. Criminally incompetent bank CEOs are paid hundreds of millions per year. Who benefits to society?

I am convinced that the majority of Americans are decent people. You want a rich and full of life, having a legitimate career opportunities. The last 25 years of materialist psychosis was a temporary deviation on the path to the American dream. WhenAuthorities would let capitalism run its course and thus the painful relief that is necessary, we could get back on track. If it takes time to reach a depression this deleveraging, so be it. We have survived against depression. It is time the Federal Reserve to resist crime and the government abuse of power. Ron Paul's call for new patriot must be our battle cry of the "American Dream" Reclaim:

The original American patriots were those individuals have the courage to resistwith the oppressive power of King George Kraft. I accept the definition of patriotism as that effort to resist oppressive state power. The true patriot is resisted by a sense of responsibility and self-interest for himself, his family and the future of his country's government abuse of power. He rejects the notion that patriotism means obedience to the state.

Many people are looking for a simple answer to the tyranny that is imposed on us by the oligopoly of theGovernment, business and media. There is no simple answer. The original patriots fought for 14 years, to be free from British tyranny. Failure meant the hangman the noose. Our politicians, corporate CEOs and media experts provides comfort "solutions" that were produced by PR maggots. Your crafted talking points are lies. You have no idea what they are doing. The only question is whether reasonable changes will come if the current system collapses under the weight of hislies, or we take back the land through grassroots organization efforts and disseminate the truth about the Internet.