Poverty is a Criminal Offense Even Punishable by Death.

Out of Reach 2012

Even though corporate profits have soared to record levels in recent years and the 1% continue to line their already lined pockets, most Americans are still struggling; there has been no economic recovery for the 99%. However, the "recovered" wealthy politically connected class has thoroughly convinced the waning middle-class to hate the poor, an ongoing effort since 1980. They tell the middle class, "Look how much it costs you to provide food stamps, welfare benefits, etc., to the poor," covering up the fact that they are the ones plundering all of the wealth, and effectively keeping the 99% at each others throats, therefore blind to the truth.

The mainstream media ensures that most of us stay blinded to that truth by continuously droning on and on about this "economic recovery" when, in actuality, median household income is actually 4.4 % lower than it was when the last recession officially "ended".  Economic recovery? How can that be when over  100 million American citizens are on welfare?  But despite the growing inequality between rich and poor, too many Americans still support the policies that deny basic humanitarian aid to our nation's poor, a population that's growing by leaps and bounds.

So it is, in the richest nation in the world, millions of people are out of work--or underemployed--homeless, and hungry, as it becomes increasingly commonplace to criminalize homelessness, not to mention, the act of helping the homeless. Those who dare to go out into the community to bring food and supplies are finding themselves arrested at an alarming rate. Yet, how does one get a job once you no longer have a home address, phone number, bus fare? If you become too ill to work?

Meanwhile, people experiencing homelessness are dying all over the nation. All too often, these lonely people are as invisible in death as they were in life.  At the very least, 700 homeless people freeze to death in the US every year.  In the Bay Area alone, since November 28, 2013,  seven homeless people died from exposure to the cold

Did you ever hear of Hart Island? No?  Well, you're not alone.  Hart Island is "a thin, half-mile long blip of land at the yawning mouth of Long Island Sound, just across the water from City Island in the Bronx" and is the largest publicly-funded mass grave site in the U.S. which has been closed to the general public for the last 35 years. Almost one million unclaimed/unknown dead, mostly homeless, are buried there. Loved ones are prevented from freely visiting these almost impossible-to-find grave sites. In Arpil of this year, an online searchable database of burial records was set up, however, access is limited to a small gazebo near the dock, rather than any of the actual burial sites.

“Its most important role has been to serve as what’s known as a potter’s field, a common gravesite for the city’s unknown dead. Some 900,000 New Yorkers (or adopted New Yorkers) are buried here; hauntingly, the majority are interred by prisoners from Riker’s Island who earn 50 cents an hour digging gravesites and stacking simple wooden boxes in groups of 150 adults and 1,000 infants. These inmates—most of them very young, serving out short sentences—are responsible for building the only memorials on Hart Island: Handmade crosses made of twigs and small offerings of fruit and candy left behind when a grave is finished."

Moreover, 41 states have debtors' prisons. Even though the U.S. officially made debtors' prisons illegal in the 1830s, you can still be jailed for showing "contempt of court" during a creditor lawsuit.  In Ohio they're throwing people into jail for as little as $300! That's right, in Huron County, "more than one in every five of all bookings...involved a failure to pay fines." 

Most of the homeless in America are just regular people (over 40% working) trying to survive, a situation that anyone of us can find ourselves in, yet, so many remain callous, as if it cannot happen to them.  If society is judged by the way it treats the least of its citizens, well...

Links:

Cities' homeless crackdown: Could it be compassion fatigue?

Bloomberg Strikes Again: NYC Bans Food Donations to the Homeless.

Prohibitions on Sharing Food with People Experiencing Homelessness

Poor Give More Generously Than the Rich

Charity and the poor: The rich and their 'bah humbug' attitudes

Why the Rich Don't Give to Charity The wealthiest Americans donate 1.3 percent of their income; the poorest, 3.2 percent. What's up with that?

Why Do the Rich Give Less than the Poor?

Food Not Bombs

Interfaith Hospitality Network

A mother loses her job, a father is kept from working by an injury, a family is forced from their home by fire or natural disaster. Healthcare costs soar, public transportation is underfunded, affordable housing is almost impossible to find. These are the reasons why families now make up 40 percent of the homeless population, and why one out of every four homeless people is a child.

In response to this crisis, the Interfaith Hospitality Network brings the faith community together to help families regain their housing, their independence, and their dignity. IHN is a partnership of congregations within a community helping families who are facing homelessness. It offers an opportunity for volunteers of all faiths to reduce homelessness and transform lives.

Interfaith Hospitality Networks are currently operating in 41 states and the District of Columbia, in large cities, suburbs, and rural counties. They mobilize community resources: houses of worship for lodging, congregations for volunteers, social service agencies for assessment and referrals, and existing facilities for day programs. This strategy enables networks to help homeless families achieve lasting independence at a third of the cost of traditional shelters.

Read more...

The Top Ten America's Greediest of 2013

America’s Greediest: The 2013 Top Ten By Sam Pizzigati

“Butchers, bakers, and candlestick makers. You won’t find any of them on our annual Too Much list of America’s most avaricious. You will find wheelers and dealers and a candy store heiress.

The impact on America’s super rich — and super-rich wannabees? Not much. They haven’t even deigned to slow their grabbing...

10/ Angela Spaccia: Pint-Sized Pilfering

We start this year’s top ten with garden-variety greed, the sort that inevitably grows in the shadows of escalating grand fortunes. In that shade, people in positions of modest power and authority regularly — and clumsily — try to emulate the avaricious high and mighty they see all around them.

In Bell, a small Los Angeles County working class community, that modest power and authority once belonged to Angela Spaccia. As Bell’s assistant city manager for a seven-year span that ended in 2010, Spaccia helped stuff hundreds of thousands of dollars into the pockets of the city’s top officials, including herself. Spaccia in one year alone took in $564,000.

Prosecutors eventually caught up with Spaccia and her pals. Her boss, the Bell city manager, cut a plea deal in October to 69 corruption charges. He pulled in $1.18 million in his most lucrative year. Spaccia chose to go to trial instead, claiming she did nothing illegal.

“Everyone’s greedy,” her defense attorney argued  in November. “There’s no crime in taking too much money.”

Jurors disagreed. Last week, they found Spaccia guilty on multiple counts of criminal behavior, including one misappropriation of public funds designed to pump $15.5 million in pension checks to Spaccia and her boss.

9/ Dylan Lauren: Sweet Squeezer

They don’t come more suave and sophisticated than Dylan Lauren, the only child of billionaire designer Ralph Lauren. Or more ambitious either.

Not for Dylan the empty heiress life. Over a decade ago, she opened up her own business, a luxury candy emporium on Manhattan’s Upper East Side where moldings atop display cabinets mimic dripping chocolate and a cocktail bar offers Gummy Bear martinis.

“Dylan’s Candy Bar” would go on to become wildly successful, expanding into Miami Beach, Los Angeles, and the Hamptons, all the prime watering holes for America’s super rich.

Things today could hardly be peachier for the young Lauren. She has by her side a totally smitten hedge fund manager husband. Maybe even better, the 39-year-old has realized the life’s dream she’s had ever since she first saw Willy Wonka and the Chocolate Factory at the ripe old age of six.

“I just wanted,” as Dylan gushed recently, “to live in a world full of candy.”

Dylan’s employees, meanwhile, would be satisfied with a world where they could just make ends meet. Workers at her Manhattan flagship store have been protesting  their meager $8.50 hourly compensation and management policies that make sure employees never work enough hours to qualify for overtime pay.

The New York workers are seeking full-time weekly set schedules and a hourly wage at $13.99, the price of a Dylan’s Candy Bar pound of candy.

Earlier this month, in a pouring rain, the workers demonstrated to make their case, carrying lollipops that read, “Dylan, we’re not suckers.” Their chant: “Dylan, Dylan, Candy Queen, you’re filthy rich, so share your green!”

8/ Michael Duke: Low Wages All the Time

This may well be Walmart CEO Michel Duke’s last hurrah in America’s most greedy. He’ll be stepping down as CEO early in 2014, after an embarrassing final year at Walmart’s summit.

The crowning embarrassment? At the company’s 2013 annual meeting, a glitzy affair that management packs with “loyal” employees, one Walmart worker actually won cheers when she denounced Duke’s $20.7 million 2012 paycheck.

Researchers have calculated that Duke is essentially making $6,898 an hour, 779 times the $8.86 average Walmart wage.

In the nation’s capital this fall, city council members tried to up that worker average. They passed a bill that would have required Walmart stores in D.C. to pay at least $12.50 an hour. Duke reacted swiftly. He had his company threaten to pull up stakes if the bill became law.

Washington’s mayor promptly panicked and vetoed the measure.

Duke took a PR pounding for that threat and still another pounding when the Demos think tank in New York revealed  that the $7.6 billion Duke had Walmart spend last year buying back company shares, if redirected to worker compensation, could have raised Walmart’s lowest wages by $5.83 an hour — and ensured all the company’s workers at least $25,000 for full-time work.

Poor Michael Duke won’t have to face any more pounding come his retirement this February. He won’t face any financial worries either. Duke is sitting on $113.2 million in retirement assets, thanks to a tax loophole that lets corporate execs annually set aside unlimited sums, tax-free, into their retirement accounts.

Duke’s retirement stash, notes the Institute for Policy Studies, “could yield him a monthly retirement check of $669,169.” The average Walmart worker 401(k), by contrast, will generate a monthly retirement check of $89.

7/ Art Pope: A Backroom Bully Goes Public

In North Carolina these days, few people think Francis first when they hear “Pope.” A different Pope has been dominating headlines here, an exceedingly deep pocket who owes his fortune to a discount store chain his daddy built.

In the run-up to the 2012 elections, this Art Pope invested over $40 million of his personal wealth to gerrymander how North Carolinians cast their votes.

The gerrymandering worked. This year opened with the state sporting — for the first time ever — a conservative GOP governor, Supreme Court majority, and legislature all at the same time. The state budget director? Pope himself.

Pope’s budget priorities would soon start wreaking havoc with the lives of North Carolina’s most vulnerable. In a state with America’s fifth-highest jobless rate, lawmakers indebted to Pope and his millions slashed top weekly jobless benefits and denied 170,000 long-term jobless special federal aid.

North Carolina’s conservatives didn’t stop there. They put in place, notes one Duke University analyst, an agenda that cuts education and social programs, shifts the tax burden “toward the less affluent,” and restricts voting rights.

North Carolinians have responded to this rich people-friendly legislative onslaught with spirited demonstrations. The latest protest: an “educational picket campaign” outside the discount stores the Pope family owns.

Art Pope, notes state NAACP president William Barber, has brought a “cynical and sinister form of wealth and power manipulation” to North Carolina.

Pope has put his stores “deliberately and publicly in communities of low wealth,” exploited people in these communities with low wages, and then employed his resulting wealth “to push and promote policies,” sums up Reverend Barber, that undercut the quality of average people’s lives.

6/ Tim Cook: Lost Even with a Compass

The $100 million club, researchers from the corporate watchdog GMI Ratings revealed  this past October, has become a bit less exclusive. Last year, for the first time, America’s ten highest-paid CEOs all realized over $100 million in compensation. High on that list, at $143.8 million: Apple CEO Tim Cook.

Cook’s good fortune came as no surprise to computer industry observers. Apple retail stores, notes  Forbes, “take in more money per square foot than any other United States retailer.”

Yet Apple store employees only average $25,000, and Apple can’t seem to afford to compensate its 42,000 retail workers for the time they spend every day waiting to get searched — for stolen goods — before they can leave the store premises. Two former Apple employees have filed  a class-action lawsuit to recoup those unpaid wages, estimated at about $1,500 per year.

But give Apple credit. The company remains an equal-opportunity exploiter. The company mistreats workers both at home and abroad. Workers at Apple’s offshore suppliers continue to work in factories that, says  the Economic Policy Institute, “reflect some of the worst practices of the industrial era.”

Apple, details EPI analyst Isaac Shapiro, “has not met commitments to ensure that workers in its supply chain receive retroactive compensation for working unpaid overtime” or “ensured promised wage increases.”

Apple CEO Cook’s response to critiques like this?

“Apple,” he told reporters before U.S. Senate testimony this past spring, “has a very strong moral compass.”

5/ Ron Packard: The ABCs of Avarice

Some of us look at school buildings and see students learning. Ron Packard looks at schools and sees himself becoming fabulously richer — if he could only empty the buildings.

Packard runs K12 Inc., a for-profit company that specializes in “virtual” education. K12 Inc. operates online “schools” that supply lessons to kids sitting in front of computers, a business endeavor that Packard pronounces a noble step toward “educational liberty.”

“Kids have been shackled to their brick-and-mortar school down the block for too long,” he has declared.

An army of corporate lobbyists has been spreading this message over the past five years, backed by the right-wing American Legislative Exchange Council, and more than three dozen states have now enacted legislation that lets companies like K12 Inc. grab students — and tax dollars.

K12 Inc. currently has nearly 130,000 students in its “virtual learning” empire, with only one problem. Compared to their traditional school peers, K12 Inc. students are not doing much learning. Critics are, understandably, blasting the K12 Inc. business model as a giant scam.

In that model, heavy K12 Inc. advertising on kid-centric media like Nickelodeon gets kids enrolled for the company’s offerings. State government education officials, after their annual student “head count,” then pay K12 Inc. for each kid signed up. But after the head count, many of the “virtual” students drop out. K12 Inc. doesn’t mind. The company gets to keep the money.

Lots of it, enough to reward Packard over $19 million in personal compensation the last five years. Not bad, notes the Center for Media and Democracy, for a former Goldman Sachs executive “who started K12 Inc. with a $10 million investment from convicted junk-bond king Michael Milken.”

4/ Lloyd Blankfein: An Appetite for Aluminum

Five years ago, Wall Street’s Goldman Sachs tottered near disaster, as did every other major U.S. bank.

America’s taxpayers came to the rescue. Goldman CEO Lloyd Blankfein soon had at his disposal $814 billion in near zero interest loans from the Federal Reserve and $10 billion from the Treasury Department.

Blankfein has made the most of this generous support. Forbes calculates his total compensation for the last five years at $159.5 million. Blankfein currently holds over a quarter-billion dollars worth of Goldman shares in his personal portfolio.

How have Blankfein and Goldman Sachs done so nicely the past five years? We learned a good bit about that in 2013. The juiciest revelations came over the summer when the New York Times exposed a commodity speculation scheme that Goldman “intentionally created” to drive up the global price of aluminum.

This scheming, the Times estimates, has cost consumers $5 billion since 2010.

Blankfein has shared, at tax time, precious little of the profits from Goldman’s speculative ventures, thanks in large part to Goldman’s dozens of offshore tax havens. In 2010, these tax havens cut Goldman’s tax bill by $3.32 billion.

Blankfein is putting his share of those tax savings to something less than productive social use. News reports have him down as an advance buyer in the new $1 billion Faena Miami Beach, an 18-story oceanfront luxury tower set to open next year. The tower’s 47 residences are going for up to $50 million each.

3/ Jim McNerney: Middle Class Manslaughter

The U.S. manufacturing giant Boeing, analyst Harold Meyerson observed last week, has only one global rival in the large-scale passenger-plane market, the European conglomerate Airbus.

Workers at these two aerospace giants turn out to make about the same compensation. But executives at Boeing make more.

Question: Given these realities, what should Boeing do to compete more effectively? The answer from Boeing CEO Jim McNerney: Cut Boeing worker wages, benefits, and pensions!

Earlier this fall, McNerney gave his Seattle area workers an ultimatum: Either accept a contract “extension” that would leave them paying more for health care and getting less in retirement — and force new hires to work 10 extra years at substandard wages — or Boeing would go elsewhere to manufacture its new 777x passenger jetliner.

Boeing gave Washington State’s political leaders a similar ultimatum: Either fork over new subsidies and tax breaks or see your state lose jobs by the thousands. Washington lawmakers caved almost instantly. They voted Boeing the largest subsidy deal in U.S. history, over half a billion annually for the next 16 years, over double  the state’s annual funding for the University of Washington.

Boeing’s workers didn’t cave. They rejected the Boeing ultimatum, and McNerney, who pulled in [39] $27.5 million in take-home last year after $23 million the year before, is now parsing subsidy offers from half a dozen other states.

How does this story end? Maybe with the “Walmartization of aerospace.”

“This,” as Seattle author Timothy Egan puts it, “is how the middle class dies.”

2/ David Novak: Fast-Food Glutton

At first glance, corporate CEO David Novak doesn’t need a subsidy from anybody. The fast-food empire Novak oversees, Yum! Brands, amassed $1.59 billion in profits last year.

And Yum — think Pizza Hut, Taco Bell, and KFC — is doing pretty well by Novak, too. He pocketed $94 million worth of “performance pay,” notes an Institute for Policy Studies analysis, in just 2011 and 2012 alone.

But Novak and Yum are collecting subsidies anyway — and plenty of them. One comes directly from the U.S. tax code. Current tax law lets corporations deduct executive “performance” pay off their taxable income. This sweet subsidy saved Yum $33 million the last two years on Novak’s ample compensation.

Average Americans are actually subsidizing Novak and Yum at much higher levels than this single tax break suggests. In fact, taxpayers are subsidizing Yum’s entire fast-food business.

Workers at fast food giants like Yum simply don’t make enough to make ends meet for their families. So how do these workers get by? They depend on taxpayer-financed social safety net programs, from food stamps to Medicaid.

Overall, researchers noted  in 2013, American taxpayers “are spending nearly $7 billion a year to supplement the wages of fast-food workers.”

And how are fast-food executives like David Novak spending the profits this generous taxpayer support makes possible? They’re having their companies, for starters, buy back shares of company stock off the open market, a strategy designed solely to bump up their share prices.

Higher share prices, in the meantime, produce higher “performance pay” awards for execs like Novak.

If Novak had plowed the vast millions that Yum spent last year on share buybacks into worker pay, estimate researchers from Demos, worker wages at Pizza Hut, Taco Bell, and KFC would have jumped by as much as $3 per hour.

1/ Larry Ellison: An Awesome Arrogance

Drum roll, please. Our 2013 greediest of them all: Larry Ellison, the longtime chief exec at business software kingpin Oracle.

Ellison currently owns a quarter of Oracle, a chunk that makes the 69-year-old the ninth richest individual in the world. His total net worth sat last week at $38.6 billion.

Enough? Not for Ellison. Last year, the software kingpin had Oracle award him $96.2 million in compensation. Unhappy shareholders considered those millions a tad excessive. In a nonbinding 2012 say-on-pay vote, an Oracle shareholder majority turned thumbs-down on Ellison’s pay package.

Ellison, of course, gave none of that $96.2 million back. This year, he had Oracle hand him another $76.9 million. Unhappy shareholders again expressed their displeasure, making Oracle just the 12th company  in U.S. corporate history to have its shareholders go on record against their CEO’s pay in consecutive years.

No frustrated shareholder better try getting any of Ellison’s latest paycheck back. Oracle spends $1.5 million a year on security personnel to protect him. And why not? Ellison, as Oracle general counsel Dorian Daley gushes, rates as Oracle’s “most critical strategic visionary.”

Sign up for To Much Ellison pays dearly to surround himself with such fawning adulation. His two top executive underlings collected $43.6 million each in compensation in Oracle’s fiscal 2013.

Ellison’s billions, to be sure, buy him more than office sycophants. This past year Ellison hosted global yachting’s premiere race, the America’s Cup, in San Francisco Bay. Each race’s host sets the race’s rules. Ellison’s rules limited the field to ultra-expensive — and ultra-dangerous — catamarans.

One sailor died in training runs for the race.

Whose yacht eventually won? Guess.

Links:

Super Sizing Public Costs How Low Wages at Top Fast-Food Chains Leave Taxpayers Footing the Bill

“The Fast Food industry is marked by two extremes: on the one hand, the leading companies in the industry earn billions in profits each year, award chief executives generous compensation packages, and regularly distribute substantial amounts of money in the form of dividends and share buybacks.

At the same time, the overwhelming share of jobs in the fast-food industry pay low wages that force millions of workers to rely on public assistance in order to afford health care, food, and other basic necessities. This report focuses on the 10 largest fast-food companies in the united States and estimates the substantial costs that these highly profitable companies’ low-wage, no-benefits business model imposes on taxpayers.
our findings include the following:

• Low wages and lack of benefits at the 10 largest fast-food companies in the united States cost tax-payers an estimated $3.8 billion per year. Mcdonald’s alone costs taxpayers an estimated$1.2 billion each year.
• While low wages and lack of benefits cost taxpayers billions of dollars each year, the seven publicly-traded corporations on this list remain in strong financial condition today. Last year, these companies collectively:

• Earned $7.44 billion in profits;
• Paid $52.7 million to their highest-paid executives;
• Distributed $7.7 billion in dividends and buybacks

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Who Owns Your Congressman?

From Masters in Accounting:

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75.4% of All U.S. Wealth is Owned by by the Top 10%!

I've always believed that we, the American, live in the best of all possible worlds and much to my surprise, after all I've learned, and after all I've complained about,  I still do, although to a much lesser degree, of course.  I realized this when I came across the headline," America Is the Most Inhumane Developed Country on the Planet..."  My immediate reaction, at the gut level, was shock.. that is, until I had time to think about the extraordinary incarceration rate, the millions and millions of people without health insurance, the millions and millions of people without  enough food to eat, without safe shelter, without  the means to pay off exorbitant student loan debt, without full employment, or in an increasing number of cases, without employment at all....

However, if I didn't know just how inhumane our nation has become, the fourth edition of the Credit Suisse Global Wealth Databook (2013) cinched it for me.  The report ranked the US as the most unequal of all advanced economies. The Gini coefficient-, the standard measure of a nation's wealth-inequality (a Gini coefficient of zero expresses perfect equality) in the U.S. is 85.1.  That's right,  we're thee number one most unequal of the 20 developed nations in the world! 75.4% of all U.S. wealth is owned by by the top 10%!   Followed by:

Denmark, with 72.2% of its wealth owned by the top 10%,
Switzerland, with 71.5% of its wealth owned by the top 10%,
Sweden, with 71.1% of its wealth owned by the top 10%,
Israel, with 68.9% of its wealth owned by the top 10%
Norway, with 65.9% of its wealth owned by the top 10%,
Germany, with 61.7% of its wealth owned by the top 10%,
Singapore, with 61.1% of its wealth owned by the top 10%
Ireland, with 58.4% of its wealth owned by the top 10%,
New Zealand, with 57.6% of its wealth owned by the top 10%
Canada, with 57.4% of its wealth owned by the top 10%,
Netherlands, with 54.6% of its wealth owned by the top 10%
Spain, with 54% of its wealth owned by the top 10%
U.K., with 53.3% of its wealth owned by the top 10%,
Italy, with 49.8% of its wealth owned by the top 10%
Japan, with 49.1% of its wealth owned by the top 10%,
Finland, with 44.9% of its wealth owned by the top 10%

Hell, we even beat Chile (72.5%), India (73.8%), Indonesia (75.0%), and South Africa (74.8%)!

At the other end of the wealth spectrum, the bottom 90% of the U.S. population own only 24.6% of all the privately held wealth in our nation, whereas in most of the other developed nations, the bottom 90% own, on average, approximately 40% of the wealth.

Moreover, not surprisingly, this so-called "economic recovery" has only benefited the richest Americans, as the richest 1% of Americans have received 95% of the income-gains since the 2008 financial crash, raising their incomes by 31.4%.

Once again, this should come as no surprise in a world where the richest 300 people on earth have more money than the poorest 3 billion.

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The Pathology of the Rich

On The Real News Network. with Paul Jay, Chris Hedges discusses the decadence of the ruling elite, the psychology of the super rich; their sense of entitlement, the dehumanization of workers, and mistaken belief that their wealth will insulate them from the coming storms. "Après moi, le déluge"

Hedges asserts that the intellectual class serves the system--that allows those at the top to plunder the wealth from the rest of the population-- don't have a job.

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The Precedent is Set for the Cutting of Public Employee Pensions Across the Nation.

Is "Bankrupt" Detroit, in which "a judge [U.S. Bankruptcy Judge Steven Rhodes] in Michigan ruled that the bankrupt city of Detroit can impose cuts to its municipal pension plans" the new paradigm for dealing with "municipal bankruptcy" for the rest of the US? Now remember the "fictional municipal corporation government called the “City of Detroit” bankruptcy is a huge lie! Of course there is no mention of what Clint Richardson  refers to as "the legal crime operating behind these horrific scenes and reported in the Comprehensive Annual Financial Report (CAFR)."

“In case you haven’t heard, municipal bankruptcy is now all the rage. When smaller municipal corporations (only corporations can declare bankruptcy) had little resistance as test cases for these outrageous claims of fraudulent bankruptcy and default, the larger municipalities gained the confidence that the financially illiterate cesspool of people as citizens don’t know there heads from a hole in the wall when it comes to the financial reporting apparatus of government. The people were determined to be sufficiently ignorant of even the basic checking account balance of the general fund in their local governments and school districts, let alone the massive collective government investment scam robbing them of the entirety of their wealth, making it reasonable to assume that these municipal corporation’s financial position would likely never be challenged by that clueless mass of the indentured. And so the latest trend of conspiracy and fraud against those debt-slaves continues… this time in the not so great City of Detroit.

In other words, Detroit is a test case for the rest of the nation in the ongoing agenda of the predatory class to steal our wealth.

San Bernardino,, California, you're next.

“The ruling comes as a bankrupt California city, San Bernardino, edges closer to a possible legal showdown with CalPERS over the sanctity of public employee pensions. Although the decision in Detroit doesn’t directly affect what happens in San Bernardino, legal experts said it will strengthen the California city’s hand as it tries to reduce its multimillion-dollar pension obligations.

However, as Clint Richardson states:

“In short, the Governor of the great corporate State of California is lying to his taxpayers through the act of omission of these CAFR facts, by only referring to a hand selected portion of that CAFR, which is called the State’s annual budget report. While this should be tried as perjury, the laws of the State/Federal government protect him from this ever happening.

To help in your understanding, let’s say that you were to have a checking account with $1,000 and a savings account with $10,000 in two different banks, and that you only reported to the government that you had $1,000 dollars as your net worth because you don’t want to use your savings account to pay bills (taxpayer obligations) to government. You’d be audited and put in a federal debtor’s prison. But for government, the simple designation of “non-governmental” or “non-taxpayer” income and investment returns allows them to hide all of this wealth from the people and the “Budget Report”, while never mentioning the funds and wealth in the CAFR report. The only difference is that government does this legally – because government makes its own laws!

Why do they do this?

The answer is simple, really… TO JUSTIFY THE CONTINUATION OF, THE RAISING OF, AND CREATION OF NEW TAXES!!!

Public Employees’ Retirement Fund (CalPERS) – $241,761,791,000

Public Employees’ Health Benefits Fund (CalPERS) – $1,866,877,000

State Teachers’ Retirement Fund (CalSTRS) – $155,345,815,000

Teachers’ Health Benefits Fund (CalSTRS) – $598,000

Deferred Compensation Fund – $9,365,582,000

Judges’ Retirement Fund (CalPERS) – $54,146,000

Judges’ Retirement Fund II (CalPERS) – $575,833,000

Legislators’ Retirement Fund (CalPERS) – $123,476,000

State Peace Officers’ and Firefighters’ Defined Contribution Plan Fund (CalPERS) - $499,873,000

Supplemental Contributions Program Fund (CalPERS) – $19,658,000

Other pension and other employee benefit trust funds – $10,117,000

————————————————————————————-

TOTAL IN PENSION/EMPLOYEE BENEFIT FUNDS = $409,623,766,000

“...for this is the lie that is propagated to the public about the nature of pension funds. I would suggest you watch my documentary, The Great Pension Fund Hoax for a detailed look at pension funds.

In reality, the 270 billion dollars that is invested in CalPERS and the 200 billion that is in CalSTRS pension funds has nothing to do with paying for benefits, which total about 9 billion each year.

Calpers made a 27 billion gain in its investment pool after all benefits were paid to employees and retirees. So do you still think that these assets as investment funds (pension funds) are “liabilities:? How can they be liabilities if they are making massive profits after all liabilities are paid???

The truth is that pension funds grab TAXPAYER money out of the taxpayer base in order to “match” or pay for pension obligations – laws created to steal money and put it in the pension system. For every employee of the State, more money gets exacted from the public to pay into the pension system.

But here is the kicker… the employee has no equity in that money! While he or she can quit or get fired and take back what he contributed to the fund, the entire taxpayer contribution stays in the fund, and the employee cannot touch it. millions and millions of federal and state employees, each one supported by taxpayer money, and some pension funds do not require employee contributions, only government (the people) fund them with taxmoney. Ive seen the ration of contribution from 100% matching of employee funds to 45oo% of matched employee funds from the tax base. The employer is government and government is funded by taxmoney.

Now, with that said, it is your perception that is the problem. You perceive the good intentions of the pension system, and don’t comprehend the true corporate nature of it. You find justification for the above to support “retirement”, even though the purpose of pension funds was to extract taxmoney and invest it worldwide to build up the entire global economy for which pension funds are the largest holder of stock. And you, who may or may not receive a pension, believe that I (who does not recieve a pension) should pay for those employees who do. Why should I pay tax money to support a pension system that does not benefit me in any way, shape, or form, and in fact harms me by consolidating power and wealth into government hands?

Finally, you should know that if (or when) States begin to declare bankruptcy, which in my opinion is part of the master plan to rape the people once again, the pension system for that State will be taken, and no employees will see any of that money for retirement. Remember, a “contribution” is literally the act of giving away your money voluntarily. You do not own the money you have contributed, and can only get it back if you live long enough (which the fund hopes you don’t) and if the corporation doesn’t go bankrupt.

Again, the pension fund balances are not liabilities. The fund does what is called projections to guess what future liabilities will be. But as of today, any funds within the pension fund are profit.

I hope this helps…

-Clint-

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