Hat tip to Ken Lay in comments for finding this. Take a look at Henry Blodget's piece on the current income distribution in the US:
Its official. We are all nothing but a large group of serfs now after being robbed by the oligarchy in this country. As you can see above, the disparity in income distribution has now officially passed the heydays seen in the roaring '20's.
Half of the wealth in this country is now owned by the top 10% of income earners. This is quite remarkable considering the economic plunge that we experienced last year.
Isn't it interesting that the criminals that caused this nightmare are wealthier than ever before?
Meanwhile, as the oligarchs thrive after pillaging the taxpayer, the average serf in America is left with a 50% loss in their retirement portfolio, massive debts, and no job. Why doesn't anyone seem to care? I just don't get it.
History has shown us that if you let bankers run wild without regulation, they will eventually empty the wallets of everyone around them. When its all said and done, whats happened here in the US will be known as the greatest heist in the history of the world.
To this day I will never understand how Congress allowed this to happen. What's even worse is the fact that they are now allowing the American public to be raped once again by forcing the taxpayer to replace the consumer in the form of the Fed.
The Federal Reserve has become nothing but a giant wallet for Wall St. It's clearly evident that this recent move in the markets was generated almost exclusively using their balance sheet along with smoke and mirror accounting that allowed the oligarchs to hide their losses and "look" profitable once again.
What disgusts me most here is the fact that Wall St will once again be able to lavish themselves with huge bonuses based on the illusion that they are profitable. Everyone knows this is a lie. Almost all of these banks are insolvent. Congress knows it too and its a damn shame that they refuse to do anything about it.
The consumer sentiment number was horrible today because 90% of America is suffering as a result of a crashing economy. The only people getting richer at this point are the people that don't need the money.
ITS TIME TO RISE UP AND STOP ALL OF THIS NONSENSE!
This is an absolute outrage!
TURN OFF AMERICAN IDOL AND GET INVOLVED PEOPLE! WRITE YOUR CONGRESSMAN!
TELL THEM THE BAILOUTS STOP NOW OR YOU WILL BE VOTED OUT OF OFFICE!
I am so tired of watching all of this stupidity. I think I will call it a day. Sorry for the rant. When I see this stuff I just want to vomit.