Grant Williams: Why The Smart Money Is So Nervous Now

Even more important are Yellen's recent comments on America's 35 year growth of socioeconomic inequality.
http://www.newyorker.com/news/john-cassidy/janet-yellen-tells

This takes a lot of courage, speaking truth to entrenched powers. A small, ultra-wealth oligarchy has been running U.S. (and most Western) fiscal, tax, and money policy for a long time (but coming to dominant power with supply side policies in the early 1980s). In 2012, fewer than 200 of these families and trusts funded over 80% of all primary SuperPACs. Let's call then (metaphorically) the 0.01%.

http://www.daviddegraw.org/peak-inequality-the-01-and-the-impoverishment-of-society/

Our socioeconomic inequality ratios haven't been this out of whack since 1928.

http://www.pewresearch.org/fact-tank/2013/12/05/u-s-income-inequality-on-rise-for-decades-is-now-highest-since-1928/

For this reason, among many others, we're heading straight into a socioeconomic train wreck. Fiscal and tax policy is not going to fixed by Congress – the system itself has been corrupted from the inside. The only avenue remaining is a constitutional amendment to end the disproportionate influence of high-wealth in democracy: to end money as free-speech and corporations as people; to end dark money in elections; to end K-Street revolving door cronyism; to limit campaign spending to fair levels. And to return America to a pure progressive tax policy that worked, like we had from 1945-1980.

There are really smart people from all sides of the political spectrum now working to pass just such a Constitutional amendment. From conservatives like Hunter Lewis, Tim Carney, and Mike Lee, to progressives like Cenk Uygar (Columbia Law) and Larry Lessig (Stanford Law), find an initiative you resonate with and get involved:

http://www.wolf-pac.com/

https://mayday.us/

http://www.counterpac.org/

http://www.againstcronycapitalism.org/

http://www.lee.senate.gov/public/index.cfm/speeches?ID=002a1917-732e-48b4-bd3d-f314b60a9338

http://followthemoney.org/

http://maplight.org/

http://sunlightfoundation.com/

 

 

 

Teachers are going to get hammered when the bond bubble bursts, along with everyone else in paper assests. It is sad to me the level of mass misinformation and ignorance out there regarding unfunded liabilities, underfunded pension funds and demographics.
I have a long time accounting mentor who is now retired, and he is incapable of understanding that social security is a pay go system and an entitlement program.
It reminds me of Upton Sinclair writing that, “It is impossible to make a man understand something, when his salary depends on him not understanding it.”