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Who Are The HandMaidens Of Our Economic Destruction?
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[quote:Lester:MV8xMjk3OTE3XzIxMjQ4MzY0XzFCQjdFNTg3] If you wish to discuss generational-fault or complicitness; I've said for years that the "greatest generation" was to blame.... Government service, drafted or not, got you the GI Bill. If the Nation had been at risk, how could it have afforded to pay for college for millions? The GI Bill also gave the 6yr bolster to State colleges and universities; they expanded and built and promoted "college" until by the 70s it was common for anyone who could qualify for student-aid (LOANS) to get them in belief they would pave the way for better tomorrow. Wasn't True... The greatest-generationers paid minimally into Social Security. When they retired, benefits were at all time high compared to taxes paid FICA/FUTA by recipients. Medicare funded the health needs for The Greatest's Parents. In 1968, a $10 per day hospital benefit policy would paid for hospital room and board and a major medical paid the rest which was minimal. The hospital building boom began in the 60s, but it was the technology that drove medical costs in the 70s and the lawsuits for malpractice. Government was footing the bill every inch of the way... FDR's legacy to America was to bail everyone out, but not ever pay the bill. It continued and was expanded. Then there was The Great Society... The Greatest Generation was the generation that learned to SOAK the 3rd Party Payors. Before group Medical Insurance became the norm, by the 60s, Doctors were not the Heavy Hitter income earners they became. Physicians, Surgeons even in the 40s and 50s made a comfortable living, but were not hauling in hundreds of thousands a year. By the 1970s though, this was the norm. None of the Boomers were in practice until maybe 1978... The Boomer Doctors only got a few good years, then came the PPO/HMO "managed care" debacle that robbed patient and medical practitioner alike. By 1986/87 even the highest tier MD boomers were making less than they had; and half what their father's had made. Unless they were treating Cash-Paying Foreign Patients in the major US Practice Groups. Lawyers? Few make anything you could call "real money". In the late 80s, non-partner attorneys still made well under $100k. Engineers? Greatest-Gen engineers made real money, but by the 80s even the foreign jobs in the Middle East were drying up. Architects the same way. The Greatest folk got ALL the benefits, had the political power, as their generation ran things in Congress and the Senate. Most stayed until they died. Robert Byrd, Ted Kennedy, not to mention many who are still alive and into 30+ years of "service" Ted Stevens being another. All the bills were dumped on the generations to come by The Greatest Generation. Even George Bush 2nd and Obama are just carrying on Bush I policies that loot the country for buddy corporate cronies. All the money spent went chiefly to the corporate entities. Yuppies were easily duped. Just plain stupid no matter how clever they pretended to be in the work environment. Trusted Govt, and took all the inducements to invest tax-deferred.... Look at Warren Buffet, all the other pirate raiders and investment geniuses like carl Icahn and even Trump. None are Boomers, none are anything but Wesley Mouch types if you ever read Atlas Shrugged. Hank Greenberg had his AIG stolen from him before the CIA/PTB looted it with insuring derivatives. Insurance was once the last bastion for investment capital, able to Underwrite and weigh risk, decide what to insure, what to decline. Then so many carriers failed or were merged. Mutuals demutualized and their stock became manipulable. No one could attack a Mutual, but stock options and arbitrage enable any to be taken down. 180 year old life carriers could be mismanaged in 5 yrs enough to make merging with a competitor the only recourse. Conn. Mut and Mass. Mut are case in point. By the 1980s or sooner American Engineers no longer had prospects for steady employment. Nothing really being built anymore. No new plants. Old ones overhauled. Some gas & electric cogeneration; niche projects. Yet all the deficit spending that built the Interstates, Defense Assets and all our other greatness had been done. No more need for but a few engineering companies, unless employed abroad. The greatest generation presumed their gravy train could always go onward and upward, OR was indifferent to what would happen if the gravy quit flowing.... [/quote]
Original Message
Federal Reserve now "owns" $1 Trillion of USA Treasury Bills and Notes, they admitted that this week.
Not like that "bank" ever "made any money" aside from the 6% and other fees they collect from the hide of the taxpayer for "creation services" attendant to their role in USA monetary management....
Where did they get $1 Trillion since March to purchase the USA debt obligation???
Of course, they put another Trillion onto the back of the taxpayer, but will collect the interest plus the principal from us/US when notes/bills mature...
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