Working Age Americans are the Majority of People on Food Stamps for the First Time

When people ask me to describe the state of the U.S. economy, what I always say is that it can best characterized as an ongoing state-sanctioned theft. This theft consists of the 0.01% oligarch class intentionally leveraging a corrupt monetary and political system in order to funnel all of the wealth of the non-oligarch rich and middle-class upward to them. The underclasses are kept quiet and in-line via food stamps and other forms of so-called “welfare.”

In reality, I have frequently maintained that food stamps are actually corporate welfare and that the stock market represents food stamps for the 1%. The entire economy is a gigantic bait and switch in which a handful of people rape and pillage everyone else.

With unemployment and GDP statistics hopelessly manipulated, we must look at other data points in order to gain an understanding of how things really stand. Data related to food stamp rolls is one way to gain real insight into the true state of the U.S. economy.

In an excellent article from the Associate Press, we learn several things.

  • For the first time ever, working-age people now make up the majority in U.S. households that rely on food stamps.
  • Food stamp participation since 1980 has grown the fastest among workers with some college training.
  • By education, about 28 percent of food stamp households are headed by a person with at least some college training, up from 8 percent in 1980.

More from the AP:

WASHINGTON (AP) — In a first, working-age people now make up the majority in U.S. households that rely on food stamps — a switch from a few years ago, when children and the elderly were the main recipients. 

Some of the change is due to demographics, such as the trend toward having fewer children. But a slow economic recovery with high unemployment, stagnant wages and an increasing gulf between low-wage and high-skill jobs also plays a big role. It suggests that government spending on the $80 billion-a-year food stamp program — twice what it cost five years ago — may not subside significantly anytime soon.

“High employment, stagnant wages.” Huh? Don’t these people realize we’ve been in a recovery for almost five years now!

Food stamp participation since 1980 has grown the fastest among workers with some college training, a sign that the safety net has stretched further to cover America’s former middle class, according to an analysis of government data for The Associated Press by economists at the University of Kentucky. Formally called Supplemental Nutrition Assistance, or SNAP, the program now covers 1 in 7 Americans.

Notice the statement, “America’s former middle class.” At least they are honest. The middle class is gone.

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Robin Williams on Wall Street Junkies…Absolutely Hilarious!

The new Geithner $20 bill will be instead of “In God We Trust,” it’ll just say “Trust Me!” and it will have a picture of the monopoly man on it.

- Robin Williams in the priceless interview with Charlie Rose embedded below

This is from late 2009, but I had never seen it and it is nothing short of hilarious.  Guaranteed worth your time!

 

h/t to The Daily Bail for bringing the above video to my attention.

Hard Data on the Death of the American Middle Class

Here is a good, brief  article from the NY Times demonstrating the death of the middle class in America using new Federal Reserve data.  Not that we need the Fed to tell us about the destruction of the economic and social fabric of the nation, after all, it is their policies that are most responsible for the damage.  Perhaps the most telling line in the article is: “the survey illuminates problems that continue to slow the pace of the economic recovery.”  Hmmmm let’s think about that.  The middle class of a nation is being driven into the ground and we are calling it a “recovery.”  We need to start to develop new criteria on what constitutes an economic recovery.  Call me crazy but when the crony capitalist oligarchs steal from the productive middle class via government contacts and then use the same government to pay off the poor with food stamps that’s not recovery…it’s theft.

Key Quotes:
The recent economic crisis left the median American family in 2010 with no more wealth than in the early 1990s, erasing almost two decades of accumulated prosperity, the Federal Reserve said Monday.

The Fed found that middle-class families had sustained the largest percentage losses in both wealth and income during the crisis, limiting their ability and willingness to spend.

The share of families saving anything over the previous year fell to 52 percent in 2010 from 56.4 percent in 2007. Other government statistics show that total savings have increased since 2007, suggesting that a smaller group of families is saving more money, while a growing number manage to save nothing.

Families with incomes in the middle 60 percent of the population lost a larger share of their wealth over the three-year period than the wealthiest and poorest families.

Full article here.