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Four Ticking Time Bombs That Will Soon Ignite a Revolution

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"Our country is bankrupt.   It's not bankrupt in 30 years or five years," warns economist Larry Kotlikoff, "it's bankrupt today."

Economist Peter Morici:   "Capitalism is broken, America's government is two bankrupt political parties bankrupting the country."

David Stockman, Reagan's budget director:   "If there were such a thing as Chapter 11 for politicians" the "tax cuts would amount to a bankruptcy filing."

BusinessWeek recently asked analyst Mary Meeker to run the numbers.   How bad is it?   America really is bankrupt, with a "net worth of a negative $44 trillion."   Bankrupt.  

And it will get worse.   Unfortunately, nothing can stop America's self-destructive Wall Street bankers.   They simply do not care that their "doomsday capitalism" will ultimately destroy their businesses from within, as it simultaneously bankrupts their country and ends democracy as we know it.  

America's worst 10 years start now

The rich exist in a different world from the rest of us.   They live privileged lives in gated communities.   They meet for holidays at the world's elite resorts.   The richest aren't worried about today's economy like you and I are.   They don't need to be worried.   Their issues revolve around which elite resort has the best masseuse, best Pilates teacher, best concierge medical doctor, which private school to choose, what investments they are making at this time, etc.   Folks at the top are not concerned with the underlying deterioration of America, except in the abstract, because they aren't and won't be directly affected by it (barring something quite unforeseen) -- at least not in any significant or worrisome way.   That's why no amount of new information will ever change what they do.   To them, such news is irrelevant.   When things for the rest of us totally fall apart, they will simply pick up the pieces, at bargain prices, just as they did after the Great Depression, put it all back together the way they want, likely with even more power and control for themselves, and carry on as before.   At least that's their plan.

The four ticking time bombs that will ignite the Wall Street revolution, according to MarketWatch analyst Paul B. Farrell

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Yes, the rich live in a different world.   And no new information will change them.   But a revolution would.   Revolutions build slowly over a long time.   Then, suddenly, a critical mass, a flash point, and something totally unexpected ignites the ticking bombs.  

As you know, it happened recently in a remote Tunisian village.   Mohamed Bouazizi, a 26-year-old college graduate, unable to pay bribes, set himself on fire to protest police confiscation of the scale he used at his unlicensed vegetable cart.   That triggered a revolution.   And his horrible suicide rapidly led to the collapse of a 24-year dictatorship.  

Today we have four time bombs soon to make history;   any one of them could easily start ramping up the revolution that's already killing Wall Street and America from within.  

1.   Wealth gap:   the super-rich, the class war, and the death of democracy

The gap:   In the space of one generation, America's wealthiest 1% have almost tripled their share of our country's income, from 9% of it to more than 23% of it.   Meanwhile, middle-class income has stagnated.   Even Warren Buffett admits that "There's class warfare, all right, but it's my class, the rich class, that's making the war, and winning it."

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The rich just don't care about the losses the large majority of us are taking as a result.   They live by a very self-centered credo and are lacking a moral compass.   The public welfare is honored by them only if there are tax benefits in it for them.  

The wealth gap continues to widen, no steps are being taken to stop that widening, and soon enough something unpredictable will ignite a Wall Street revolution because of this ever widening gap.  

2.   Wall Street's doomsday capitalism and its movement toward anarchy

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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Looks like America is already lawless.Stealing hom... by Debbie S on Friday, Mar 11, 2011 at 10:55:15 PM
Against the 4 things you name which would cause an... by liberalsrock on Saturday, Mar 12, 2011 at 10:17:23 AM
Actually no rebuttal at all. I'd like to make one.... by RunningBecky on Saturday, Mar 12, 2011 at 2:08:36 PM
Trade unions seem to have stopped playing Rip Van ... by Margaret Bassett on Saturday, Mar 12, 2011 at 10:57:22 AM
And this is why this government is building this t... by 911TRUTH on Saturday, Mar 12, 2011 at 11:21:19 AM
Social Security deficits are part of Wall Street's... by Paul Craig Roberts on Saturday, Mar 12, 2011 at 12:19:15 PM
It's called "Pay or Die." Health care gets ration... by Jill Herendeen on Saturday, Mar 12, 2011 at 12:38:26 PM
that is less vulnerable to the funding whimsy of C... by John Sanchez Jr. on Saturday, Mar 12, 2011 at 2:14:10 PM
Taxing labor increases the cost of labor and just ... by Jack Flanders on Sunday, Mar 13, 2011 at 8:11:15 AM
but a single payer medical system would be insuran... by John Sanchez Jr. on Sunday, Mar 13, 2011 at 8:56:47 AM
Increasing the taxes on labor would also very easy... by Jack Flanders on Sunday, Mar 13, 2011 at 10:54:34 AM
I'm simply drawing distinctions between the option... by John Sanchez Jr. on Sunday, Mar 13, 2011 at 11:46:18 AM
I agree that, even as a tax on labor, funding sing... by Jack Flanders on Sunday, Mar 13, 2011 at 12:38:50 PM
People are thinking that a single payer health car... by Doc McCoy on Saturday, Mar 12, 2011 at 11:03:33 PM
You still buy into that myth? The affluent west ha... by Vaikunthanath Kaviraj on Saturday, Mar 12, 2011 at 12:30:24 PM
Birth control can solve that, pro-creation causes ... by Debbie S on Saturday, Mar 12, 2011 at 1:26:27 PM
These crimes need to be prosecuted by an Internati... by Anton Grambihler on Saturday, Mar 12, 2011 at 1:01:01 PM
<<< Social Security deficits are part of ... by Richard Clark on Saturday, Mar 12, 2011 at 1:48:57 PM
Cattle have ruined the range.Aristocracies of weal... by martin weiss on Saturday, Mar 12, 2011 at 1:51:10 PM
Excuse me, Mr. Clark, but since when does Social S... by Joyce Ellenson on Saturday, Mar 12, 2011 at 2:13:57 PM
Come on, admit it gang: don't you miss Duhbya just... by Richard Clark on Saturday, Mar 12, 2011 at 2:38:17 PM
I'm not familiar with Paul B. Farrell, but anyone ... by Joyce Ellenson on Saturday, Mar 12, 2011 at 3:28:21 PM
Joyce you say, "I'm not familiar with Paul B. Farr... by Alan MacDonald on Sunday, Mar 13, 2011 at 12:46:15 PM
This is the beginning of global revolution against... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:13:38 PM
Yes, the working-class people of the US, despite t... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:16:36 PM
Because this stupid corrupt global Empire has trie... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:19:42 PM
How can the soiciopathic and vainglorious egomania... by Alan MacDonald on Saturday, Mar 12, 2011 at 3:21:39 PM
Oh the fires I see boiling over in the minds of Ma... by Michael Dewey on Saturday, Mar 12, 2011 at 4:45:30 PM
I'm not sure how one can call the pop. problem a h... by JimZ on Saturday, Mar 12, 2011 at 4:08:15 PM
is pure fantasy, and has been debunked so often as... by JimZ on Saturday, Mar 12, 2011 at 4:15:00 PM
From http://www.ncpa.org:The estimated present val... by Richard Clark on Saturday, Mar 12, 2011 at 4:38:15 PM
Thank you for finally exposing yourself as the fre... by Joyce Ellenson on Saturday, Mar 12, 2011 at 4:50:58 PM
I've looked at times like these, with and eye on w... by Michael Dewey on Saturday, Mar 12, 2011 at 4:16:42 PM
your quote: "even taunting us (like the dictators ... by Dan Suilem on Saturday, Mar 12, 2011 at 4:32:31 PM
Dan, Obama is the reverse Manchurian candidate. H... by Alan MacDonald on Sunday, Mar 13, 2011 at 10:37:42 AM
Yes, a revolt in the US has become a small priorit... by Dan Suilem on Sunday, Mar 13, 2011 at 2:28:16 PM
would it be necessary, or would one want to, to se... by JimZ on Saturday, Mar 12, 2011 at 5:18:09 PM
Thanks, Jim. Yes, he gave himself away when he qu... by Joyce Ellenson on Saturday, Mar 12, 2011 at 5:31:44 PM
. . that web site, http://www.ncpa.org/. And no,... by Richard Clark on Saturday, Mar 12, 2011 at 8:06:59 PM
It is obvious, even to the casual observer, that t... by Donald on Saturday, Mar 12, 2011 at 6:04:37 PM
Richard, you are right. Revolutionary talk is lost... by Jay Farrington on Saturday, Mar 12, 2011 at 7:21:14 PM
Jay, you and many on this forum, are seeming to co... by Alan MacDonald on Sunday, Mar 13, 2011 at 11:00:41 AM
the nation debt is a threat to national security, ... by bogi666 on Saturday, Mar 12, 2011 at 7:31:06 PM
Revolutions are fraught with lies and deception an... by philputman on Saturday, Mar 12, 2011 at 7:53:46 PM
I've never even owned a gun and don't plan on gett... by Richard Clark on Saturday, Mar 12, 2011 at 8:25:17 PM
Y'LL call this communit capitalism? Get out of he... by John Smith on Saturday, Mar 12, 2011 at 8:35:49 PM
Mr. Clark and Mr. Roberts are two brave patriots w... by ronheri on Sunday, Mar 13, 2011 at 12:39:07 AM
though I would hesitate to solely blame politician... by Doc McCoy on Sunday, Mar 13, 2011 at 4:03:25 AM
Who is looting from the American people? Workers a... by Debbie S on Sunday, Mar 13, 2011 at 2:57:17 PM
Looting has been brought up to change the subject ... by Debbie S on Monday, Mar 14, 2011 at 3:21:05 PM
Great graphical representation of class warfare in... by Richard Clark on Monday, Mar 14, 2011 at 1:54:12 PM
Law professor Richard L. Kaplan contends the notio... by Richard Clark on Monday, Mar 14, 2011 at 2:19:43 PM