Ukrainians Dispossessed -- Americans are next

Where will the money come from? It will come from Americans' pensions.

Pensions accumulate tax free, and this accumulation will be confiscated in whole or part to make up for the failure to tax, another "privilege."

That confiscation works that year. But what happens the next year when the dollar is reeling on foreign exchange markets from over-supply?

The answer is that another chunk of American pensions, and I am speaking of private pensions, will be confiscated "in order to stabilize the financial system." Social Security will be long gone by this time.

Alicia Munnel, who was my replacement as Assistant Secretary of the Treasury for Economic Policy in the Clinton regime, advocated many years ago a confiscation of private pensions, including your IRAs and 401Ks, in order to compensate the US government for their non-taxed status.

Alicia has a sinecure at an Eastern university where she continues to advocate against your pension. The joint attack by Clinton Democrats on private pensions and by Conservative Republicans on public pensions means that no American can look forward to having a pension. Americans are only one presidential election away from the loss of their pensions, and it doesn't matter who they vote for.

Economic security is a thing of the past. Security was a product of the US being the only extant economy following World War II. In those days corporations believed, as did Washington, that companies had obligations not only to shareholders but to employees, customers, and the communities in which they were located.

This meant prosperity for all, not merely, as is the case today, for corporate management and shareholders.

Apologists for exploitation claim that the rich are richer because they are smarter. But the stupidity of the rich is everywhere visible. The greedy fools have destroyed their domestic US market. Really, how stupid can you be? How do Americans buy when they are forced by offshoring out of well paid manufacturing and software engineering jobs into being waitresses, bartenders, retail clerks and part-time Walmart workers in order that corporate bottom lines improve? Who buys the stuff that sustains the profits? Not Americans who no longer have the incomes to do so.

The belief spread by Wall Street and "shareholder advocates" that corporations only have responsibility to their owners and managers has destroyed the American economy. By locating production offshore, corporations have destroyed the incomes that supported the American consumer market. For example, the incomes associated with the production of Apple computers, I-Pads, and I-Phones are in China. Apple's American customers do not have the incomes associated with the production of the products that Apple markets to them.

Americans are already dispossessed of their livelihoods and careers and their pensions are next. Wherever we look, the fate of populations under Western influence are the same. The Ukrainians are exploited, the Greeks, the British, the Americans.

Wherever the West has an imprint, the populations are exploited. Exploitation of the many for the few is the Hallmark of the West, a decrepit, corrupt, and collapsing entity.