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Greed Is Good? Where Will America’s Sick Obsession With Wealth And Money End?

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Greed - Photo by J. Solana from Madrid, SpainEverywhere you look, Americans appear to be extremely obsessed with wealth and money.  These days, networks such as CNN endlessly run “news stories” with titles such as “Best cars for the super rich“.  We have television shows where people proudly show off how wealthy they are, and it seems like Hollywood is putting out an endless parade of movies that glorify the lifestyles of the elite.  We have hordes of motivational speakers and “life coaches” that will teach you how to be “more successful” in life, and every small movement in the stock market is carefully monitored by the mainstream news media.  Even in the world of faith, we have an entire class of ministers known as “prosperity preachers”, and many of those ministers wear that label quite proudly.  Yes, those that grew up in the 1980s may have been the “greed is good” generation, but the truth is that they didn’t have anything on us.  As a society we love money, and we are not ashamed to admit it.  In fact, there are times we absolutely revel in it.  For example, Time Magazine published an article this year entitled “Science Proves It: Greed Is Good” and hardly anyone even raised an eyebrow.  But where will America’s sick obsession with wealth and money end?  Could it end up destroying us?

I got the idea for this article when I was browsing through CNN’s website.  The following are eight “news stories” about wealth that were featured on CNN just on Thursday alone…

#1 “The richest Americans in history

#2 “How much do you need to be happy?

#3 “Where are the super rich?

#4 “From broke to billionaire

#5 “Homes: What $25 million buys around the world

#6 “Best cars for the super rich

#7 “America’s homes are bigger than ever

#8 “Mega yacht with a movie theater

This is what passes for news these days?

It has been said that we tend to talk about the things that we are obsessed with.

And CNN is clearly obsessed with wealth.

Not that there is anything wrong with having money.

If none of us had any money, we would all be homeless and starving.  So the truth is that money can be very useful.  But when it becomes an idol, that is when it becomes a problem.

And because we have taught entire generations of Americans that becoming wealthy is one of the primary goals in life, it is creating a tremendous amount of envy, jealousy, frustration and anger among those that have not been able to become wealthy.

In recent years, the level of bitterness and resentment that the rest of the nation has toward the very wealthy has risen to an unprecedented level.  It has become exceedingly apparent that the system is designed to funnel wealth to the very top of the food chain, and many of those at the bottom of the food chain are starting to become extremely upset about this.

Since the last financial crisis, almost all of the income gains have gone to the top one percent of all income earners.  The following comes from a recent Huffington Post article

Economic statistics show that incomes for the top 1 percent of U.S. households soared 31 percent from 2009 through 2012, after adjusting for inflation, yet inched up an average of 0.4 percent for those making less. Many economists are sounding alarms that the income gap, greater now than at any time since the Depression, is hurting the economy by limiting growth in consumer spending.

And income inequality has become such a hot topic that it has even produced a New York Times bestseller by a French economist named Thomas Piketty.  This is what CBS News recently had to say about his book…

His book has landed on that debate like a bomb. Piketty’s thesis: that the rate of return on capital, such as real estate, dividends and other financial assets, is racing away from the rate of growth required to maintain a healthy economy. If that trend continues for an extended period of time — if wealth becomes ever more concentrated in the hands of a few — then inequality is likely to get worse, says Piketty, 43, who started his academic career as an assistant professor at the Massachusetts Institute of Technology and who now teaches at the Paris School of Economics.

Another reason “Capital” has caught the public’s attention is that inequality is evident in what are by now a host of familiar symptoms. Stagnant pay, except among the super-rich. Soaring health care and education costs. The diminished expectations commonly found in young, especially those lacking college degrees, and old alike, as retirement becomes something to endure rather than to enjoy.

It would be foolish to deny that the gap between the rich and the poor is growing.  Even as the stock market reaches unprecedented heights, the middle class is dying and one out of every five children in America is living in poverty.

On a global scale, the wealthiest one percent now have 65 times more wealth than the entire poorest half of the global population does.

That is an astounding figure.

Most people don’t realize this, but the ultra-wealthy have approximately 32 trillion dollars (that we know about) stashed in offshore banks around the planet.  That amount of money would almost be about enough to pay off the entire U.S. national debt and buy every good and service produced in the United States for an entire year.

Meanwhile, the poorest half of the world’s population only owns about 1 percent of all global wealth, and about a billion people throughout the world go to bed hungry every night.

If greed was going to save the world, it would have done it by now.  At this point, the wealthy have accumulated more wealth than they ever have before.  For example, according to Zero Hedge the total amount of wealth in the U.S. has just hit a brand new record high…

Earlier today the Fed released its latest Flow of Funds report, which showed that in the first quarter household net worth rose from last quarter’s $80.3 trillion to a new record high of $81.8 trillion, driven by a $1.5 trillion increase in total assets while household liabilities were virtually unchanged in the quarter. And since the Fed is onboarding all the liabilities why should households bother with debt: that’s what the central bank balance sheet is for.

As for the proceeds, they go to the mega rich: of the $81.8 trillion in net worth, 70.4% of the total amount or $67.2 trillion, was in financial assets: the higest it has ever been courtesy of just one person: Ben Bernanke, and to a far lesser extent Janet Yellen who however is tasked with picking up Bernanke’s pieces.

But of course most people who are rich are only rich on paper.

As noted above, 67.2 trillion dollars of the total of 81.8 trillion dollars of wealth in this nation is made up of financial assets.

So what happens if there is a major financial crisis (such as the derivatives bubble bursting) which causes the total amount of financial wealth in the United States to drop by 50% or more?

What would such an event do to our country?

We are so obsessed with wealth and money that it is truly frightening to think about how we would react as a society if it was taken away.

But this current financial bubble will not last forever.

At some point it will come to an end.

When it does, will our society throw a massive temper tantrum?

  • Rodster

    As long as I can put food on the table and a roof over my head, that’s all I ask. The older i’ve gotten the less materialistic i’ve become and it in turn is less STRESSFUL. I now live by the credo “you ain’t taking it with you”.

    • MichaelfromTheEconomicCollapse

      It is very true – everything that we have now is just temporary.

      Michael

      • VegasBob

        It’s not going to do any of these rich folks any good to be the “richest person in the cemetery”…

        • nekksys

          BAM!!! There it is!!

        • Mondobeyondo

          Nope – but you could buy one of the nicest headstones in the cemetery!

          • laura m.

            You wouldn’t believe some of the black marble, etc high end monuments near where the folks are buried , musta cost a small fortune. Guess their ego keeps living on.

          • StefanaRapsondeu

            Logan . if you think Jesse `s stori is neat, I just
            received a great new Infiniti from having earned $8470 this-past/five weeks and
            over 10-k this past munth . this is certainly the best-job I’ve had . I began
            this 7-months ago and pretty much straight away started to make at least $83
            per-hr . pop over here F­i­s­c­a­l­p­o­s­t­.­C­O­M­

          • Adrian

            “Business? Mankind was my business.” Jacob Marley’s ghost to Ebenezer Scrooge

          • RICHARD

            And in 20 years no one will remember you or your name.

          • Bob332

            More like in a few days.

          • DhannaReaderaci

            My Uncle
            Riley got an almost new red GMC Canyon just by some parttime working online
            with a laptop. visit their website F­i­s­c­a­l­p­o­s­t­.­C­O­M­

      • MichaelfromTheEconomicCollapse

        And if Yellowstone erupts, the things we have may be a lot more temporary than we thought…

        http://themostimportantnews.com/archives/private-video-proves-yellowstones-geysers-are-becoming-frighteningly-active

        Michael

        • GSOB

          Thanks for the wake up call Michael…..

          I would be in Zone 5

          and I am now prepping for this event.
          plan a, for me near Denver to do, – take shelter stay home.

          OO…OO…OO…OO…OO..
          “If you take shelter:

          Keep listening to your radio or watch television until you are told all is safe or you are told to evacuate.

          Local authorities may evacuate specific areas at greatest risk in your community.

          Close and lock all windows and outside doors.

          Place damp towels at door thresholds and other draft sources.
          Tape draughty windows.

          Turn off all heating and air conditioning systems and fans.

          Close fireplace and furnace dampers.

          Organize your emergency supplies and make sure all household members know where the supplies are located.

          Fill your clean water containers.

          Fill sinks and bathtubs with water as an extra supply for washing.

          Make sure the radio is working.

          Go to an interior room without windows that is above ground level.

          Ensure pets and livestock have clean food, water and shelter.

          Store all vehicles and machinery in a garage or other shelter.

          Call your emergency contact – a friend or family member who does not live near the volcano – and have the phone available if you need to report a life-threatening condition.

          Remember that communication services may be overwhelmed or damaged during an emergency.”

      • SAM

        I heard from a Muslim colleague of mine that in their holy book, God says that the life of this world is temporary, and greed and materialism leads to destruction. A solution to the problem of poverty is an obligatory charity (a small percentage of one’s surplus wealth). You don’t have to be a Muslim to see that other people have interesting views.

        • GSOB

          If its

          “obligatory charity”

          it is not charity

        • Dan Hanner

          Christianity preaches the same thing and it was around a lot longer than Islam

          • Gay Veteran

            the Golden Rule predates Christiainity

          • Paul

            My gods bigger than your god. Nyah Nyah.

        • Adrian

          Jesus said the same things.

    • RealityCheck

      But you can be buried in it….Leona Helmsley died from congestive heart failure at the age of 87, on August 20, 2007, at Dunnellen Hall, her summer home in Greenwich, Connecticut. She was entombed next to Harry Helmsley in a mausoleum constructed for $1.4 million[28] and set on ¾-acres in Sleepy Hollow Cemetery, Westchester County, New York. Among the few distinctive features of the mausoleum are three wall-embedded stained-glass windows, in the style of Louis Tiffany, showing the skyline of Manhattan.

      • Oh Cue Pie

        And may they all rot in hell!!! :)

      • steve

        A century from now it will be looted and vandalized, just like the pyramids of Egypt soon after the pharaohs were entombed, only she will be forgotten.

        • RealityCheck

          Let me be truthful here. All of these ornate grave markers and mausoleums are short term emotional need fillers. At least in my opinion they are. After roughly two generations, nobody really remembers the deceased. I am not trying to sound callous…but it’s true. I would personally go for a modest cremation and pass the money on to the next generation that will certainly need it just to survive.

          • laura m.

            Reality: After the last parent died in 1995, we did our own prepaid pre-need and it was cheap then – funeral, caskets vaults, lots and a granite marker; nothing extravagant. Any money left later will go to several ministries. If you have extra money I would suggest those esp. over fifty to do pre-need as prices go up up..

          • Priszilla

            I bought a house for my parents and a small rice field for the brother of my boyfriend, and insulation for my sister’s house, and a driving license for my niece, university for the daughters of the rice farmer.

            Life is so much more fulfilling once you get out from the hamster wheel.

        • Hammerstrike

          A Century? More like the next 3-5 years.

      • Priszilla

        Some builder got those $1.4 million. We are talking jobs here.

    • Albert8184

      Right. You can’t take it with you so- LEAVE SOMETHING FOR YOUR CHILDREN…. so they don’t have to borrow their way through life, financing everything on credit from the one percenters.

      • quercus454

        If over half the country is earning less then 28 grand a year, how many of them are going to have anything to leave for their children?
        A house that is mortgaged? Most people I know have used up their savings, cashed in their investments in order to live.
        While all have had to downsize and cut spending, there is only so much you can do with inflation.
        I would hazard a guess that for everyone who dies and is able to leave their children a nice nest egg, there are 50 or more who will be in debt.

        • Albert8184

          Well, you need to be asking yourself how we got to that point. It’s the Perfect Storm of many decades of bad policy and individual misconceptions.

          Americans are largely impoverished, as you say. Yet, somehow, this article purports to say Americans are obsessed with “greed”. Doesn’t sound like it to me. Sounds to me more like they’re obsessed with hopelessness and despair, after decades of envy-driven overspending trying to keep up with the Joneses by indebtedness… while their government was busy digging a hole beneath their feet.

        • Hammerstrike

          In order to live or to survive?

      • Priszilla

        We put two nieces through university. Paying for their tuition, rent and living costs. If they are successful they’ll support their cousins and nephews. No loan. No interest.

    • Kim

      You have your priorities straight. :-)

    • nekksys

      Same here. I know some think I’m nuts to actually want a financial reset in this country. I’ve spent many years studying, training and preparing a very definite skillset in order to be able to survive anything. And I do mean anything… I’m heading off into the final phases of that training now. With what I know now, I can survive and thrive for an indefinite amount of time in an off-the-beaten path location without so much as a modern weapon or even modern tools.

      In the final analysis, the only thing that matters is being able to fill my and my loved ones bellies, keep us all warm / dry and see to it we are all protected. To borrow from Metallica’s song, Wherever I May Roam:

      “The less I have the more I gain
      Off the beaten path I reign.”

      And:

      “Only knowledge will I save
      To the game you stay a slave.”

      I’m making a return to our primitive roots… Won’t you all join me?

      • GSOB

        You neglect to mention the criminal activity that goes along with the transition you anticipate.

        • nekksys

          Criminals will stick to areas where easy targets can be found like cities and highways. I have other places to live and move where my safety is assured.

          • Priszilla

            Dark alleys are usually safe. Rich people don’t walk there.

          • nekksys

            Deep woodlands and rocky mountains are a safe bet too…

      • Paul

        I’ve been searching for remote home locations for rental purposes. any suggestions? all I am mostly able to find are vacation rental cabins.

        • nekksys

          Land is land… If everything goes down the dumper, land ownership goes with it.

    • RedPillPlease

      Ditto! One example I could personally offer is recognizing the advertisement industry’s perpetual bombardment of persuasive selling schemes. With age comes the wisdom of easy detection instincts to differentiate needs vs wants, and managing them prudently.

    • Old soldier

      There is a lot of truth in this article; the conclusion especially. What will happen if that wealth is all of a sudden taken away?? A nightmare. By the way, there is a comedy play called “You Can’t Take It With You.” I was in it and it was very successful. Also, on a humorous note, like the play, this obsession with wealth is a comedy as well.Those who are preparing and see reality of what is happening in this country and those who are not.

    • Mudpie

      Same here, I used this exact same explanation yesterday in a conversation on the topic. More and more people see what is going on. If we are lucky this will lead to another sort of Great Awakening.

    • Olivier Francoeur

      You want food? You’re greedy! You want wealth! Give us your wealth so we can squander it and remain poor!

      • Adrian

        Food is a need. A yacht with a movie theater is a want.

        • Olivier Francoeur

          Hold on to that thought.

    • GSOB

      Let the wife make the husband glad to come home, and let him make her sorry to see him leave.

    • laura m.

      Rodster: We are into retirement ten yrs, and have downsized to miminalism in average size house, yet I never was one to want clutter. I know people over 70 and 80 that have more than three houses not rented out, that really think they are going to take it all with them. They can’t even keep up/maintain all the stuff they have. Heirs fight over what they leave then quit communicating. You’re right it’s way less stressful getting rid of unneeded stuff and selling or donating- even passing on items to heirs while living.

    • Jimbo

      My friend told me today that he needed a new TV. Nothing wrong with the old TV apart from that it isn’t 3D.
      I replied, “you mean you want a new TV”. He looked at me with a blank stare.
      The words want and need have two very different meanings, but for many people today, the meanings have become blurred.
      You need 1500 calories a day, shelter from the elements and the love of your family and friends. Everything else is a want.

    • Guest

      I’m with you. I’m done chasing the wind. I try to enjoy each day. Each breath which is a gift from God. I’ll store my riches in Heaven.
      God willing I’ll die before I get old. I’d rather not roll around in poppies diapers at the Nearly Pushing Daisies retirement home.

    • Priszilla

      I am just cleaning up and donating what I dont want my nieces to be bothered with.
      And that antique camera is a great birthday gift for the aspiring young photographer. No need to wait until after my death.
      With less possessions we need a smaller house with less rent to pay and less time to spend on cleaning and repair.

  • Simon

    You have probably heard that the ECB cut its deposit rate to -.1%. I used to work for a large U.S bank and they are testing their software apps to make sure it can accommodate negative interest rates without a glitch.

    • MichaelfromTheEconomicCollapse

      That is frightening to hear. If anyone tried to hit my back account with a negative interest rate I would switch banks in a heartbeat.

      But what will we do if ALL the banks start doing it?

      • Simon

        It wouldn’t be far fetched for them to collude on negative interest rates. The bank I worked for was discussing negative interest rates and testing their applications since the beginning of the year.

        Btw, I am not a bankster, I am a technologist who was laid off by the banksters. The big banks continue to trim staff and streamline wherever possible to maximize profits. It is not enough that they are profitable. Greed begets Greed.

        • jay rome

          What bank did you work for Simon?

      • K

        Now take it the next step. All the banks do it, and the Government considers the possession of large amounts of cash, evidence of criminal conduct. Now the next step, confiscation of all privately held gold. See how quick things can get out of hand?

        • Rodster

          That is the end game and not farfetched. The current ponzi-scheme is growth thru inflation. Now that even that’s not working they want you to pay them to store your money. Why?

          Because that causes people to spend money they may not want. It’s either “use it or lose it”. So no savings and it causes a drain on bank assets if people start pulling their money out of the banks.

          It’s a sick twisted game that keeps getting worse because all the currencies are being debased thru inflation.

          • K

            Yes it is all part of the plan.

          • Mondobeyondo

            The powers that be would love to devalue your currency so that you’d have no choice but to turn to gold or silver – which they would quickly confiscate or make illegal to own.

          • Priszilla

            Right now the banks are targeted by the state.

            Right now the aim of the EZB is that banks grant more loans to businesses, so that they can invest.

          • Gay Veteran

            people could just buy lots of things they routinely use, thus avoiding inflation

        • Priszilla

          It happened before and America did not die then.

          If you want to store your gold in a safety deposit box, you have to pay for it.

          And there was a time, when Americans had to deliver all their gold to the state.

          • K

            It was a different Country then. Most people trusted the Government, and did not suspect the Government meant them any harm. Now, most do not trust the Government. There is also a good number of us, who suspect they do mean us harm.

          • Priszilla

            You can learn something from the East Europeans, Russians and Chinese,.

            Use the Internet to learn from each other.

      • Rodster

        What happens when ALL the banks collude to do the same thing? Eventually we are looking at a cashless society that is driven to spend EVERY last penny to keep the Central Banksters Ponzi scheme going. If we don’t spend NOW the economy crashes.

        I guess the growth by inflation model didn’t work out so good for them?

        • Albert8184

          No, it worked out GREAT for them. They wind up with all the real assets. It didn’t work out so great for everyone else. We wind up with piles of worthless paper AND a foreclosure notice.

        • Adrian

          If we were a smart society we would eliminate the banks and have a government run pool where we could all deposit our money and grow it, and use it interest free, but with stipulations that it had to be used for x or y purpose. It would be a contributory pool where everyone could draw from it.

          • GSOB

            You forgot the nature of sin that comes into the mix,… like a fly in the ointment.

            Stop running from reality.

          • Adrian

            Explain what you mean…I missed your point.

          • GSOB

            The rebellion in us all.

          • Hammerstrike

            Someone would have to pay the vault-guards.

          • Malcolm Reynolds

            That’s sounds wonderful! Let govt possess and control all the money and tell you what you can spend it on.
            Did you get hit in the head with a boulder?

          • Adrian

            Newsflash: the government ALREADY possesses and controls the money. Who do you think prints it? LOL

          • Malcolm Reynolds

            And printing isn’t what you even came close to implying in your post now is it. And printing it doesn’t seem to have anything to do with keeping it all in their vault somewhere and telling us what we can spend it on.
            Good grief, make up your mind.
            I recommend you lol again. Maybe that’ll convince someone you weren’t hit in the noggin with a rock.

      • III

        have you seen this one? -) youtube.c o m/ watch?v=-DT7bX-B1Mg

        1 ) People starts withdrawing money from those banks.

        2 ) To prevent sizable losses and facing loss of confidence, banks would have to make it hard, impossible for them to withdraw their own money.

        3 ) Police presence is needed to keep those banks from a growing number of protests, while hacking attacks increases in number. Political consequences.

        4 ) Consumption falls by a large margine. The recession is much greater than 1% a year.

        • Priszilla

          They cancel your credit cards so you can’t spend your money?

          • III

            I just stated the most obvious consequences of what Michael suggested.

            Given these consequences, banks aren´t going to do that unless police forces are mobilized and ready to shield banks and banksters.
            In other words, martial law or something near it.

            If that happen, it might either be because of a major “terrorist” attack, natural disaster (Yellowstone about to errupt) or after another 2008-scale crash.

            Already in Spain a few years ago, there have been restrictions on how much peopl could take out of the banks.

          • Priszilla

            That was different.

            Then banks didn’t have liquidity.

            Now it’s the opposite.

      • Adrian

        I have always found it strange that we give banks the power that we give them. Essentially, we are allowing them to use our money to make profits with it, and when we want to use our money the bank charges us all interest on the use of all of our money. Makes no sense whatsoever.

        • GSOB

          They don’t charge you to use your own money… they charge you to use money that you don’t already have….
          unless I have misread you…
          (Sorry)

          • Adrian

            Yes, they do. You deposit all your money into a bank as you are paid. They turn around and lend it out to others at interest. When you go to borrow from that bank, theoretically some of that borrowed money comes from your own deposits. Funny how banks always win. Look at the interest they charge you for using the money you and others put in, compared to the interest you are paid for having your money in their bank. Sweet deal, but only if you’re the bank.

          • Malcolm Reynolds

            I don’t thinjk you don’t understand what borrowing money is.
            When you deposit money in the bank, you get to use that money as you will because its yours.
            When you borrow money from the bank, you’re taking money from the bank while leaving your money in the bank. That’s why it’s called borrowing and that’s why it costs you money.
            If you had taken out YOUR money, then you wouldn’t be borrowing.
            There’s a huge difference.

    • JulietteofOhio

      That’s terrifying! What about the many naive older people who depend on interest to keep them alive?

      • Albert8184

        About one percent of them.

      • Tim

        Yes, many elderly people used to depend on the interest income on their life savings. You can’t do that anymore.

    • Captain Canuck

      This is happening incrementally. Remember last year at this time?

      Cypress.

      This year? Neg deposit insurance all across Europe?

      Next year? North America.

      • Priszilla

        Time to use that money and invest in a real house.
        One with a concrete basement and foundation, and concrete walls that withstand rain and wind, and a sloped roof that withstands snow, and insulation that saves heating and cooling costs.

        Make sure you own your land before you build a house. And you own a house before you start improving it.

        A small house wholly owned is better than a palace due for foreclosure.

        • Adrian

          Yes, buying land and having your own home is something everyone should strive for in life. If all else fails you have a means to provide food and shelter for your family.

          • Priszilla

            Also, people who are independent put less strain on society.

            Grow your own food at any time and provide shelter at any time.

            So you can stretch your income and develop your skills around the land and house – gardening, pruning, cooking, DIY, carpentry, etc.

            If you have a garden you are less likely sitting in front of TV and Internet every day.

  • K

    For the love of money is the root of all evil. There is no statement that sums it up better.

    • RealityCheck

      While it’s true that money cannot buy you happiness, I’d rather cry in a Mercedes than on a bicycle.

      • Rodster

        I’d take the bicycle. No car payments as well as high auto insurance, fuel costs and theft. Besides the Mercedes brand is junk compared to what they produced 30-40 years ago..

        • RealityCheck

          Okay then, make that a Lexus.

          • Oh Cue Pie

            “For what will it profit a man if he gains the whole world and forfeits his soul? Or what will a man give in exchange for his soul?”
            ~ Matthew 16:26

    • Albert8184

      That’s not what the Bible says. It says …”all KINDS of evil”.

      The Bible doesn’t teach class warfare. The Bible teaches financial wisdom coupled with a balanced attitude toward all things.

      • Catalin Oancea

        “For the love of money is the root of all evil…” – 1 Timothy 6:10

        If you will keep reading 40 different versions, all you are going to get is confusion. The modern versions are one of the main things which lead your country to the apostatical state that is so predominant these days.

        “For God is not the author of confusion, but of peace, as in all churches of the saints.” – 1 Corinthians 14:33

        Your country is dominated by greed, strife and railings against each other, there isn’t any peace in your churches, that’s because most of the church goers are lukewarm hypocrites that want their ears tickled, not the truth.
        Balanced attitude toward all things…that sounds like New Age deceit. But I’m not surprised since most of the “Christians” have pastors which are Luciferians, so no wonder they spew their damnable philosophy everywhere they go.
        Probably the thing that you meant by that was temperance in all things, but given the sick and twisted nature of our society, someone might get that as doing drugs and being gay without crossing the line (which line is only in their head). Sometimes I feel like I have to explain every sentence I write because I think that on the other end is a dolt who has already lost track of this one, and I really care about that dolt and don’t want him to perish.

        • Albert8184

          Take your own advice. Quit reading the King James. It’s a bad translation in many cases, and this is one of them. Read the Greek Hebrew.

          • GSOB

            Summary

            The fundamentals of Biblical banking are these:

            1. The King James translators erroneously translated the Greek word for “interest” as “usury.”

            2. Usury in the Old Testament refers exclusively to interest taken from a poor
            fellow believer.

            3. Jesus described the kingdom of God in terms of profit seeking and interest seeking: a positive rate of return.

            4. Interest is a basic category of human action; it is inescapable.

            5. It arises from the fact that we discount the present value of future goods as against what those same goods are worth to us right now.

            6. Information isn’t a free good; someone pays for it.

            – Gary North

          • Angry Jesus

            Gary is wrong on this issue and unfortunately sides with the moneychangers here. Interest and usury are two sides of the same coin. The only distinction that exists is in how they’re applied. Simple or basic interest which is a fee or charge applied to the amount borrowed for the usage of whatever and has been agreed upon by both lender and borrower. The other type which is compound interest is in a league by itself. According to your post, only the poor were charged usury. I guess it was alright to charge the wealthy exorbitant rates. You’re confusing profit (gained by hard work and due diligence) with making money through the process of lending money (interest & usury) otherwise known reaping what you have not sown. Of course, partnerships would be a logical solution to this, but the moneychangers have no interest in performing labor, they only want to capture the harvest. There’s a reason you don’t hear sermons on the right and wrong ways of moneychanging in any church, synagogue or mosque and why they continue to turn to “economists” and financial “wizards, oracles and gurus” for self justification. Try reading Usury: Destroyer of Nations by S.C. Mooney for another point of view.

          • GSOB

            I find your opening sentences engaging but your confusing to read and understand.

            You are not clear on any of the summary points I quoted from GN on the his fundamental summary,….
            in your reasoning – you left me with no practical understanding of why you disagree, other than that you do, you divert to compound interest…

            Thanks for the recommendation, but for now…I agree that there is a difference between usury and interest and I will dig further in my studies to understand.

            You call it two sides to of the same coin… from there, then you lost me…..

            You did not address the KJV error.

          • Angry Jesus

            The quote about interest being a basic human action is wrong. There’s plenty of people who do things and exchange goods, services, ideas and information without the addition of interest, whether that interest take the form of money or gain of any kind. Interest & usury are 2 sides of the same coin is a reference as to what type of money those particular things are. Which is the money of the future. The money of the future must stay just that, so that those who live in the future have their money to earn, use and trade with. It has no place in the present. And it certainly does not belong to those who do not produce wealth or value for society. Interest and usury exist because certain people are defying the natural law (or God’s law for those so inclined) of monetary creation and have blinded the masses into accepting their system. Jesus understood this concept, Gary’s views oppose that. If you love your neighbor and you love your brothers and sisters, why would you ask from them something that you did not give them in the first place? Loans are to be made from one’s excess wealth, not from money conjured out of thin air. And if they have trouble paying you back then give them more time or forgive them their debt. There’s your profit in the kingdom of heaven.

          • Albert8184

            Now, give me a scriptural reference from the OT or from the other Jewish scriptures and scribes that reference these things.

          • GSOB

            You forgot to say the magic word.

          • Albert8184

            I know where you’re coming from… thanks.

          • GSOB

            You are Welcome

          • Adrian

            Completely false. Charging interest was considered a sin in Christian Europe, and that is why Jewish moneylenders were so despised because they did so and made out like bandits.

          • GSOB

            Context, context,…context.

            And playing cards is a sin to some, and reading other than KJV versions of the bible is sin…..and serving in the military is a sin to others…
            what does the Word say Adrian?

            Are you in Christ?

          • Adrian

            Yet another person who misses the point entirely. I have no intention of arguing with ideologues.

          • GSOB

            What did I miss young man?

          • Adrian

            Playing cards and charging interest are two different things. In the former, nobody is hurt. In the latter, one borrows money out of necessity and becomes a slave, in a sense, owing more money to the person. Remember Christ throwing out the moneylenders from the temple?

          • GSOB

            Yes, I remember.
            Mark 11:15 is the best account..

            (Those who were buying and selling… not moneylenders, but money changers $$$)

            But, ….what is the point you are meaning to clarify to me when you reference the cleansing of the temple,..?

          • Adrian

            That moneylending commercial activity and usury was so sinful that Jesus did not want it practiced in the temple. He was also quite outspoken on wealth and the rich, saying that man must decide between worship of God and worshipping mammon. He said the rich don’t get into heaven, and for us to forsake material goods and to help the poor.

          • GSOB

            He called them thieves that have made the house of prayer into a den of robbers.

            This was not an inaccurate accusation by Him. What was it that the Scriptures reveal to us that brough about the Lord’s anger?

            Its not as convoluted as it seems. I have concluded, along with others, that the money changers were not only charging to much for currency exchange services they were providing, but they where in partnership with the local pet store, right there in the temple, doing business. i.e… stealing from the people so they can keep the covenant!

            Believers today are the temple of God.

          • Adrian

            Which makes the point I made earlier: charging interest and commercial activity in pursuit of profit is a sin and corrupts the soul. Since our entire economic system and social values stem from making money and worshipping money almost as a god, it is unchristian and sinful. The evidence is that our political and economic system are collapsing as are our moral values and culture.

          • GSOB

            Yes. I understand you.

            I’m saying that profiting from lending in the world of business is not sinful, if it is done lawfully.

          • Adrian

            The moneychangers Jesus threw out were businessmen acting lawfully also.

          • GSOB

            Says who? Are you implying that the Lord was not accurate in His assessment of the situation?

            Also…Matthew 25:27

            “Then you ought to have put my money in the bank, and on my arrival I would have received my money back with interest.”

          • Catalin Oancea

            Instead I should read the NIV that changes Lucifer to Morning Star, right? Yeah, because your scholars say that the King James is flawed, and now we are smarter and better equipped to translate the Bible, although most of your stupid countrymen believe they came from a lot of raining on the rocks (all the while saying they are Christians) and your seminars are full of wicked devils that brainwash whole generations of pastors to preach in tax exempt churches. And not everyone is as smart as the people in the seminars who know so many ancient languages like Greek and Hebrew and so many scholarly treatises and dogmas.

            “Professing themselves to be wise, they became fools” – Romans 1:22

        • RedPillPlease

          Absolutely! When LBJ imposed the 503(c) tax laws, through intentional deception, he literally transformed the church to unwittingly become agents of the government … agents of disinformation!

          • Albert8184

            YES! And everything that happened after that…. was quite logical.

          • Gay Veteran

            want churches to get involved in politics? then don’t take tax breaks

          • RedPillPlease

            Perhaps you need a history lesson on the Black Brigade and the role of the church during America’s Revolutionary War? The Black Brigade was no “race” label, it was named so due to the clothing church leaders wore at the time. The pages from hymn books were even used as paper wadding for muskets. Patrick Henry’s famous speech, “Give Me Liberty or Give Me Death” was delivered from St. John’s Church in Virginia, as the church in those days were not only used for spiritual gatherings, but served also as the organizational headquarters, mustering, supply houses and inspirational calls to duty. Ask yourself, why did the British target so many of their attacks against America’s early church?

            Those who know not where they came from, will never learn where they are headed.

          • Gay Veteran

            like I said:
            want churches to get involved in politics? then don’t take tax breaks

          • RedPillPlease

            Ah … the old trap of argumentative conclusion … I won’t bite. And besides, your username infers quite more than meets the eye for one who has paid close attention to this activist agenda.

          • Gay Veteran

            activist agenda?
            hmmm, perhaps the pot is calling the kettle black.
            the only “activist agenda” I have is legal equality

          • Catalin Oancea

            If you want legal equality, then support a bill that would make people in the LGBT community uninsurable because they are a high risk category and will cost the state and insurance companies money that could otherwise go to help people that actually get into accidents without their intent or consent. No one should pay to treat a sodomite of diseases that have a very high proliferation amongst your communities, it’s like paying for the treatment of a junkie who overdosed. And don’t give me the blabbering inane “scientific” vomit that sodomy is genetic…with people like you, if you will engage in any depraved behaviour it will be considered genetic and not your fault. If being gay is genetic, then God shouldn’t have condemned it, because He didn’t condemn people for being black or asian, He condemns them for what they do.

          • Gay Veteran

            well junior, you support heterosexuals paying more for insurance due to illegitimate children and STDs?

            sounds like you’re in the wrong country. try Saudi Arabia, you should fit right in.

        • GSOB

          “Sometimes I feel like I have to explain every sentence I write because I think that on the other end is a dolt who has already lost track of this one, …”

          You said it.

          That’s precisely you….
          compulsive, controlling and all that….
          including a kindness that kills.

        • Gay Veteran

          “…If you will keep reading 40 different versions, all you are going to get is confusion….”
          so much for the unchanging word of god.
          but you sound like you need a corner to pray on

      • K

        Now the poor man died and was carried away by the angels to Abraham’s bosom; and the rich man also died and was buried. 23″In Hades he lifted up his eyes, being in torment, No it does not teach class warfare. But it warns very clearly, about the evils of greed.

      • RedPillPlease

        Bingo! How many times have we seen misquotes occur today, especially those related to the Bible? It was about 20 years ago when I learned that the quote: “God helps those who help themselves …,” is nowhere found in the Bible. Rather it came from a 60’s TV episode of Bonanza. It was Hoss (Dan Blocker/script writer) who owns that one!

        • Test.

          “The problem with internet quotes is that you can´t always depend on their accuracy.” Abraham Lincoln, 1864

          i.chzbgr.c o m/ maxW500/4777806080/hB529CBE0/

        • Adrian

          Awesome, I didn’t know that.

    • Angry Jesus

      That quotation is incorrect. It’s more sensible to read or translate into “For the love of money is the cause of many evils” or some variance thereof. And yes, I’m still angry.

      • K

        KJV, however you translate, the love of money equals evil.

        • April

          No causing many evils and equaling evil are polar opposites.

          • K

            How hard you all try to find an exception. When it would be far easier to ask for forgiveness.

      • nekksys

        Actually, the original Greek text uses a proximal article (ton) which, when in conjunction with certain words, is often translated to mean “a variety” or, as we would say, “kinds.” It can, in this context, also mean “causes” but I don’t believe this translation is the intended meaning. This text is, in my opinion, indistinct for this reason: no matter how you say it, loving money brings about evil in many forms.

        • Angry Jesus

          I don’t subscribe to the Greek or Latin translations as doctrine. But yes you are correct in the meaning of “many or variety”. It certainly did not mean “all”. Evil can take many forms, not all require the love of money.

          • nekksys

            The books of the New Testament were written in Greek and Aramaic. The Old Testament was obviously written in Hebrew. Those are the texts I work from.

    • Kim

      So true, K. And it never ends well for those who put money above everything else.

      How is everything? I love this time of year- I just made a trip to asparagus country! My mother has property out in rural Washington and asparagus comes up every year on its own in May-June. So delicious.

      • K

        Just got back from Ormond beach, about a week ago. Caught up with some old friends. All is well, glad all is well with you.

      • Adrian

        I also have found to see the joy in the simpler pleasures of life, such as what is provided to us free by God -nature.

        • GSOB

          Amen.

          It is what it is though…

          Romans 8:19-22
          Living Bible (TLB)

          19
          For all creation is waiting patiently and hopefully for that future day when God will resurrect his children.

          20-21
          For on that day thorns and thistles, sin, death, and decay — the things that overcame the world against its will at God’s command — will all disappear and the world around us will share in the glorious freedom from sin which God’s children enjoy.

          22
          For we know that even the things of nature, like animals and plants, suffer in sickness and death as they await this great event.

  • El mico

    “If none of us had any money, we would all be homeless and starving.”
    Quite the opposite I would expect. We would go back to being self sufficient and barter. If all forms of money disappeared, I think that would be a good thing. No credit, no debt, never to be in this current situation again. What are we waiting for?
    Of course I expect there would be a bit of a purge initially, thin out the herd a bit, not a bad thing.

    • Rodster

      Ah but not so fast because the end game is a global currency and CASHLESS society. If you don’t play by the rules you will be castoff.

      That’s where the NSA, FISA, TSA and every heavily armed agency and drones are about. You break the rules, you are eliminated.

      • Captain Beyond

        666 big time. Actually those who participate in “society” now accepted the mark in their hearts. I turn on TV in the morning these people live on a different planet. My “friends” all they care about is money, gossip, marriage. You know “normal” things according to the world. As soon as I wake Im assaulted by negativity but I realize the source is twofold demons and fallen carnal man.

    • Malcolm Reynolds

      thin out the herd a bit, not a bad thing
      :-O. As long as it’s not you and yours, right?

      • El mico

        Only the unprepared will be at risk, those with their heads in the sand etc, and that ain’t me.

  • RealityCheck

    Let me add insult to injury. I recently heard a radio
    interview with a gentleman who stated that 20 states that have a state income tax have a very unusual tax loophole for corporations. The loophole allows the
    corporations to, get this, keep the state income tax payroll deductions they deduct from employee payrolls. The percentages vary by state. The major corporate players include General Electric, Ford, General Motors, Toyota, and Nissan…etc. I guess
    you can call this a “boss tax.”

    • kfilly

      Corporations can only grow through aid of the government. Companies like GE, Disney, and the Big Pharmaceutical/Oil companies didn’t get that way without a helping hand from the government. Whether it be tax breaks, special construction project incentives, or lucrative government contracts these companies have grown off of the back of the taxpaying citizens.

      I lived in Milwaukee, Wisconsin when the Brewers built their new stadium. The park is incredible, but it was funded by a local tax on the five surrounding counties. Now that the stadium has been up for roughly 15 years, those same counties are still paying that added tax. Major League Baseball is a pretty powerful corporation, and they got a bailout in this case. The same thing happens in the NFL when a team builds a new stadium. I believe the Minnesota Vikings are doing something similar. People are dumb to put up with this.

      • RealityCheck

        I worked for a corporation that was given a large incentive payment by both the state and county. They could not live up to their end of the deal due to several large layoffs and postponement of a major project. Of course, now things are better. When it came time to initiate the claw back provision in their contract, a back room deal was made…and they were allowed to keep the money. Must be nice.

    • Adrian

      That’s what happens when you live in a corporate fascist state. The corporate and government sectors merge and the laws are written by and for the corporations, slanted against the people. Now if someone wants to tell me that doesn’t perfectly describe our system, I’d love to know what they were smoking.

      • Gay Veteran

        amen

      • Hammerstrike

        No.

        blog.skepticallibertarian.c om /2013/02/07/fake-quote-files-mussolini-on-fascism-and-corporatism/

  • Richard

    “But where will America’s sick obsession with wealth and money end? ”

    “Could it end up destroying us?”

    “This is what passes for news these days?”

    “So what happens if there is a major financial crisis (such as the derivatives bubble bursting) which causes the total amount of financial wealth in the United States to drop by 50% or more?”

    “What would such an event do to our country?”

    “When it does, will our society throw a massive temper tantrum?”

    More silly questions. For God’s sake, stop it, man…

    • SheepleCatcher

      Richard you contribute nothing other than being a Sheeple to this discussion.

  • JulietteofOhio

    A massive hissy-fit is more likely, which is never pleasant and more likely to lead to violence. Human beings are greedy as in genetically programmed that way. While we aren’t poor, as in going to bed hungry every night, we’re far from wealthy, particularly the super-wealthy. I can live with this, since if we were traveling with the “got rocks group”, I’d be bound to run into The Mooch and her retinue which would be hideous. This way, our paths should never cross. In a choice between poor and not-so-poor, not-so-poor is better, but I see your point in that there may not be enough to go around with the super rich hoarding all the valuables. What to do?

  • Starion6

    Michael, it makes me sick to my stomach that an hedge fund manager got paid 3.6 billion dollars in 2013. That comes to 9.8 million dollars per each day of the year including Saturday and Sunday! That is equivalent to winning the super lotto three times per day every single day! Disgusting taking a walk in Fullerton Ca, which is actually a nice town, to see so many down and out homeless people while these no conscience greedy super rich accumulate obscene amount of wealth! Something is going to break sooner or later!

    • Priszilla

      What are you going to do about it?

      Tax them or elect them as Senators?

    • MichaelfromTheEconomicCollapse

      When the next crisis comes, I believe that the poor are going to take out their frustrations on the wealthy.

      So if you live in a good neighborhood, you might want to invest in a good security system.

      Or move to a more remote area.

      Michael

    • Adrian

      I agree. Imagine the incredible waste of resources on one human being which could go to improve the lives of hundreds of thousands of poor people in this or other countries.

    • Gay Veteran

      don’t forget that the hedge fund manager pays a lower tax rate than you wage slaves

  • Dawes

    There is a difference between greed and ambition. We should encourage our children to be ambitious toward careers that are helpful to others, and work hard to achieve those goals.
    Maybe it’s OK to dream a little. I have always dreamed of owning a nice plot of mountain land with a cabin and a fishing stream. God knows if I’ll ever reach that goal or not, but if nothing else it keeps me working hard…
    Sometimes there’s a fine line between contentment and laziness..

    • MichaelfromTheEconomicCollapse

      Yes, there is nothing wrong with dreaming and having ambition at all.

      And there is nothing wrong with wealth either. There is a huge difference between having wealth and being greedy.

      Michael

  • Brian jones

    Make your physical mental and spiritual health #1 (as best you can) Exercise more (remember Just Do it?), get offline and go outside.. Find a connection to a higher consciousness and be confident it will guide you through any coming turmoil.

    Having your health is something many many rich people DON’T have (especially spiritual) and would give any amount of $ to possess. But guess what, I aint selling mine. You reap what you sow.

  • Nicknakthetruthspeaker

    dont worry guys, in 3 weeks you will all be rich thanks to fatca!

  • Albert8184

    This article is Left Wing Marxist claptrap. Greed isn’t the problem as much as class warfare propaganda is. Everybody is mad because no one will SHARE with them – when what they should be mad about is the government’s incessant interference in their right to own property and pursue a business unimpeded by bureaucratic disincentives to work. Generations have been taught to believe wealth is the goal of life????? What planet are you from? The America I see is full of people who talk and think just like the author of this article.

    One percenters are uber-wealthy because idiots like this guy think prosperity comes by an entitlement state that taps into the public debt trough.

    We’re poor because our government is borrowing money at 6 percent APR by the billions, financing half it’s annual budget by borrowing money from the central bank – while promoting class warfare and division between the people.

    • MichaelfromTheEconomicCollapse

      Albert:

      Don’t you know me by now?

      How can anyone EVER say that I am expressing Marxist viewpoints?

      I have written more than 1,100 articles on this website, and I am a HUGE defender of free markets, capitalism and economic liberty.

      But what we have today is not capitalism. And we do have a huge problem with greed in our society.

      Of course the answer is not to raise taxes (I would abolish personal income taxes) and the answer is not to put more people on welfare either.

      We need an economy that creates good jobs and that greatly empowers individuals and small businesses.

      And we need an economy that encourages and rewards hard work.

      But when we are blessed through our hard work, we need to share our blessings with others.

      If our goal in life is to hoard wealthy for ourselves, that is not a good thing.

      And when we make money our idol, we set ourselves up for a lot of pain.

      Michael

      • Albert8184

        Sorry Mike. I call ’em like I see ’em. All the other great articles aside, this one smacks of Leftist class warfare and envy.

        The boundary between economic philosophies is often blurry. Communism and capitalism are not opposites on a linear scale anyway. But to assert that today’s Americans are primarily beset by the sin of greed is ludicrous. Nothing could be further from the truth. Their primary sin is apathy in the face of looming economic disaster. Not the behavior of a greedy man. More like the behavior of a the grasshopper in Aesop’s fable. Your argument plays right into the hands of the Left. It sounds like anything I might find on some socialist blog.

        God, it would be wonderful if we could actually get a few million people in this country interested in making money for themselves. We could get the economy rolling again.

        • GSOB

          “A dictatorship is often associated with communism because the economy needs to be centrally planned without the invisible hand of the market to allocate goods and resources.”

          Hope that helps clear things up.

          • Albert8184

            In what sense are you hoping to clear things up?

          • GSOB

            Establishing a boundary b/t economic philosophies.

          • Albert8184

            Right. It’s pretty blurry. But I was implying something about the relationship of communism to capitalism. And even about the relationship of the right/left spectrum.

        • K

          The majority of Americans are beset by greed. I can remember a time when Americans, had a great distrust of the wealthy. It was viewed they had not come by their money honestly. Therefore not not be trusted. Now that same majority, just want to be one of them. Few do I run into nowadays, that would rather be poor and honest. Than rich and dishonest.

    • Adrian

      Government interference in people’s right to make money?? Really?? Explain why the richest 1% were the only group to actually prosper from the 2008 economic crisis, while everyone else lost ground? Explain why tax rates are AT THE LOWEST LEVELS SINCE THE 1920S AND WHY MANY CORPORATIONS PAY NO INCOME TAXES? Explain how the government transferred $ 12 trillion in taxpayer money to the “too big to fail” banks, while letting struggling homeowners drown? And then there’s the $ 1 trillion student loan bubble. Contrary to what you say, all the evidence points to the government providing the unlevel playing field for the rich to make out like bandits.

      • Albert8184

        The richest one percent? What about the other 99 percent who ARE interfered with? Geez, how can you be so blind? You agree with me, you silly nincompoop.

        • Gay Veteran

          “…What about the other 99 percent who ARE interfered with?….”

          why do you think that has happened? who buys the politicians to pass laws and regulations to protect the uber wealthy

          • Albert8184

            I’d already addressed that point. But the basis of the discussion is the premise of the article. It’s hardly fair to say those other 99 percent are “greedy”… in fact, it’s insulting… when you consider that they only have a fraction of the wealth that the one percenters have.

          • Hammerstrike

            If they where greedy for wealth and money then they wouldn´t get themselves in debts buying unneeded things.

          • Hammerstrike

            Who wants to make those politicians, their laws and regulations to be even more powerfull?

          • K2

            The people who buy them.

          • Gay Veteran

            hmmmm, the top 0.1%

    • Gay Veteran

      “…when what they should be mad about is the government’s incessant interference in their right to own property and pursue a business unimpeded by bureaucratic disincentives to work….”

      corporations use government regulations to destroy their small competitor

  • BenguluruHuduga

    got to be kidding me. just read the Time article. It says :

    “Greed really is good, as are income inequality, bullying across class lines and even the iron fist of the political strongman—in certain contexts, at least.”

    I have no clue in which context income inequality is good unless there is a conscious effort to keep people poor and as debt slaves !

    • Albert8184

      Why don’t you consider the opposite proposition? How is income equality “good”? How is this “goodness” achieved? How is it achieved in the context of a free society with a Bill of Rights?

      I think Time was making this point rhetorically, right? I mean, I can’t imagine Time publishing such a sentence as a serious statement of agreement with Rush Limbaugh.

  • Yeah…like Albert8184 it’s the next generation I’m concerned with. Heck, we have at least seen some good days in the past. With my kid’s generation it will be a fight from the get-go. All I can do is to give him as many practical skills as I can afford, and have a bit of savings in gold stored outside the banking system. Can’t see what else I can do as a parent.

    • Adrian

      I will not have it as good as my parents did, I have some nice advantages, but I am content with working and earning enough to provide for myself and my daughter. Imagine how much more productive our country would be if there were jobs that paid good wages like in the 1950s and 60s?

      • That would take a miracle I’m afraid. There’s so little industries left and the manufacturing base has been dismantled. Where will the meaningful jobs and decent pay come from? When you look at companies like Amazon and Foxxcon investing heavily in robotics…’Baxters’ making the perfect hamburger 24/7 you really wonder what the nature of work will be in just a few years. I mean, they even predict programs will start winning Pulitzers for journalism by 2016 for goodness sake!

        • Adrian

          Yes, you are right. I saw an original Twilight Zone a few years back where Burgess Meredith played a guy who was downsized by a robot, and he appealed to the owners that robots don’t need to eat, sleep, pay rent, and was arguing for mankind’s needs against those of a soulless robot. It all fell of deaf ears, of course, and the message was chilling and a dystopian view of the future. Sad to say that is the era we are in now. I wonder what the people will do when more and more jobs are automated, and how they will eat and pay for life’s necessities?

          • A Brave New World we are entering here. Chilling.

  • alan

    TPTB are trying to send a message that everything is fine.
    Pretty much desperation as the parasites realize the host is sick and likely dying. So the parasites are going through all kinds of gyrations to stay alive.
    The media has really ramped up the propaganda this year.
    They still have 401k’s to loot so the end isn’t quite here yet.

  • K2

    CNN is deliberately peddling this to make people spend even more.

    • kfilly

      I also think it is to stir up class warfare. Look at all of the stuff the “haves” have.

      • K2

        Its more likely than bankers are behind cnn and msm doing these kind of things cuz they will be the most to gain if people keep on buying stuff and even more if the stuff is on the expensive side.

        • kfilly

          It is the same bankers who own the Federal Reserve and our government. Nothing like reinforcing the Messiah’s message before all hell breaks loose. Class warfare is key to getting the masses to fight for communism. I believe this is being done as a set up to vilify the “evil” capitalists.

          • K2

            They care more about making making more money for themselves rather making people fight for ideologies. They are not in the business of collecting votes.

            Its about money, not ideology for them.

          • Gay Veteran

            capitalists? where?
            fascism=merger of state and corporate power

          • kfilly

            I know we are a fascist state. However, the low information voters will blame the wealthy. The low information voters will be the new useful idiots. Should’ve put capitalist in quotes.

          • K2

            If they bought the politicians with their money (merging state and corporate power) they will obviously be blamed along with the politicians.

      • Adrian

        The only class warfare going on is that from the richest 1% to the rest of us.

        • Gay Veteran

          the problem is the top 0.1%, the oligarchs

  • Angry Jesus

    The ultra wealthy became ultra wealthy because they understand the principles of moneychanging. This is not to say that all the wealthy have become wealthy due to treachery and chicanery, as there are some that have become so due to diligence and hard work. Money is nothing but an abstract representation of that which created it. When the power of moneychanging is given to those who do nothing and add no value to anything, then it becomes what it is today. The predominate forms of money today, currency and credit (debt) are some of the worst forms of money there are. If money and its creation was measured by the principles of thermo-dynamics then we’d be living in a much different world than we are today. A ear of corn grown in China would have the same relative value of an ear of corn grown in the US. This law would apply universally across the spectrum of people and products. This is one of the concepts that all the moneychangers (banks, financiers, investors, governments, international merchants, corporations and religious institutions) do not want the masses to learn. One cannot lend out 9 (10, 20, 30 etc.) apples when you only possess 1 and any child knows this simple truth. Yet billions, trillions of people live, have lived and have gone to the grave never understanding that principle. And yes, I’m still angry.

    • Adrian

      As Bill Mahr said, “if hard work led to wealth, Mexicans with leaf blowers would be the richest people in the country.” I am not knocking hard work; I love hard work and staying busy and there is pleasure in working and earning your own money. However, you have to also admit that the laws of the land are written by and for the corporate powers and the rich elites. The people don’t have a seat at the table and if the laws were structured more fairly, we would all stand to earn more for ourselves and our families. This would mean that the rich would still be rich, but maybe just stay millionaires instead of billionaires. Who could possibly argue with that?

  • Dale K

    SAME stuff. over and over. tptb will find a way. there will be no collapse. it would have happened already

    • kfilly

      I think you’re wrong about that. They want to destroy the dollar so they can create a one world currency. That alone means a crash is coming. They also want to use a time like this to starve the masses/let us kill one another. That is a part of Agenda 21 which is all about culling the herd. They don’t even have to lift a finger to kill roughly 281 million people. Those that don’t die will gladly go to the prison camps for their next meal. See how this collapse comes into play.

    • K

      Really, then why are the tptb building bunkers? Why are they stockpiling weapons, ammo, and food? Why are they building yachts in excess of 5 hundred feet. Even the super rich do not throw money away. The only reason to build a boat that big, is you plan to live on it for extended periods of time.

      • Adrian

        They’re fooling themselves. There are way more of us than them, and all the ammo on earth can’t hold us at bay. The military will turn on them, as they are treated like garbage and used as pawns by the elites. They can’t dominate forever, and history shows that the masses eventually win and rebalance the playing field.

        • K

          Are you sure? How long will there be a lot more of us than them? A simple biological weapon, that the so called important people have been vaccinated against. Could wipe out half of the earth population, in two weeks. In large enough numbers, neutron bombs could do the same thing in a day. You see a very important thing has changed. Citizens do not have access to anywhere near, the types of weapons, their Government has. It is only recently, that a 100 million people or more, could be killed in a single day.

    • Drud

      Yes, Dale, empires expand forever. That is why we are all Egyptian.

  • mijj

    a unit of money is a token of influence. For most of us, we use the influence of money to move our way those necessities needed for basic life and a few luxuries. But, for those where that influence is totally in excess of that needed for normal human life, that influence becomes political. Ie. that excess wealth is used to shape our political environment and the shape of the economy.

    Also worth noting, if one person’s influence increases, everyone else’s decreases. So, the accumulation of wealth by the wealthy = dis-empowerment of everyone else. That goes for money printing too.

    So, for normal people like us, wealth = things. But for the immensely wealthy, wealth = power.

    Either we have a society ruled and shaped by the powerful (with democracy theater), or we have a genuine democracy.

  • Guest

    Something rather funny. On your very page at the end of this article is an add for wealth building in Chicago….

    • xander cross

      Of course. You know, someone has to make money at all times.

      • Guest

        I am sure Michael is making a ton from his multiple websites with his ever so faithful followers aka sheep

        • Tim

          Michael is doing a great work. His sites are my favorites sites on the web for commentary on current events. And I count it a privilege to support him. It is obvious that he has put a lot of time and effort into his sites.

          • Guest

            Sheep

        • Hammerstrike

          You are just projecting your own greed on him.

  • Joe Kleinkamp

    “Your friends will be so jealous.” That is a phrase heard more and more in TV commercials. I’ll never understand why anyone would try to breed resentment against himself by causing his friends to become jealous. What am I missing here?

  • grumpyhillbilly

    There’s a huge difference between ambition and greed. Ambition is generally good, especially when it creates and finds things. What we’ve got today is a cabal of oligarchs who are nothing more than clever parasites. Their newest scam – climate change, will wind up giving them controlling ownership of something they don’t own. That’s an example of greed at its worse. Then on the other side, you’ve got those who think they are entitled. Their greed won’t end well for them, and sadly they’ll be taking a few of us along for their collapse..

  • jakartaman

    Sorry,
    I have already paid in advance for a brinks truck to show up at my burial.
    America is already dead – most folks don’t see it – but it is
    All we are seeing now and in the future is just the decaying stinking corpse of our once great Republic.
    Pray – protect – preservere

    • Adrian

      It’s on the same track as the decline of imperial Rome.

  • Kim

    It’s not money, but the love of money that is the root of all sorts of injurious things. And those who reach out for that love stab themselves all over with many pains.

    My ex-husband is the poster child for the above-referenced verse.

    • MichaelfromTheEconomicCollapse

      I am very sorry to hear that Kim.

  • close the thread

    Money is a good servant, but a poor master.

  • close the thread

    Minimize your footprint. Let them chase after the ‘Grand Illusion’ which only leads to misery.

  • we_have_one_that_ can_see

    Job said he came into the world with nothing, and he is leaving the world with nothing . The lord give, and he takes away .
    This wealth inequality is by design, desperate people do desperate thing’s, adding to the chaos,that they want

  • DJohn1

    The worship of money is the problem. How many people are caught in a lifestyle where it is all about working many hours to just meet their bills?
    No one has taught people how to make money in school. The teachers themselves are failures in the business world and the old saying is if you cannot do, teach. If you cannot teach, then they put you in charge of teachers.
    WE set our own goals and our own measure of success. We are in the end responsible for those long hours because we want the pretty toys of life that are offered for monthly payments.

    And the more debt you owe, the more the money becomes the only thing that is important to you.
    Got to admit it is a really good trap for all of us if one does not realize what is going on early in life.
    All that said, no one teaches the ordinary person how to make money without working for it.
    Lawyers know. Doctors not so much.
    One child I know of from many years ago made millions. His parents were upset. He did it without a lot of work. They took him to a lawyer thinking he was going to jail. He designed a computer program that made snowflake-like pixels. He charged a fee to anyone that wanted an individual pixel that no one else had. It took off. I think he was 15 at the time.
    The lawyer earned his pay. He set the company up as a corporation and the profits as a trust fund. By the time it was done the kid was worth about 4 million. Needless to say he did not have to work ever again.
    The first principle of money is to make something everyone wants one of and sell it to the world. Not many succeed.
    The second principle of money is there is no relationship between what you make and how much you make. People at the bottom make little and work hard. People at the top make millions and barely work.
    The third principle of money is to take in more than you put out. And that is the most important one. Many slave because they owe, the owe, to the bank they go. They are actually the modern version of slavery.
    If you are to free yourself from this slavery, you have to follow the principles laid down by people that started poor and ended up rich.
    I know of a man that did this right here in town. He was a good Christian man. He died at 87 of diabetes complications. He was ready to meet his master, Jesus.
    All his life, this man believed. He was a brilliant engineer.
    He never worshipped money. He had a secret that he kept.
    He very carefully tithed 20% of his income all his life. Why this works I have no idea. I guess you cannot out give God.
    He died some time ago. But he died with 33 patents on safety equipment to keep people from getting limbs cut off in the industrial machinery of the world.
    He was worth approximately 4 million when he died. His adopted son follows this tithe to this day.
    Money is part of the devil’s plan for this world. It is good to know as much about our enemies as possible. And money is a form of slavery for most people.
    If I were to give advice to the young, it would be to be very careful about what you spend and what you borrow. Follow the principles laid down in the Bible no matter what version you read. Attempt to understand them. And everything else will be added on to you in the long run.

  • xander cross

    Here is a solution. Stop watching mainstream media.

  • Mondobeyondo

    Well, you know that saying about the love of money…. you can read the rest at 1 Timothy 6:10.

    It’s not money, in and of itself, that is the root of all evil. It is the LOVE of money. And, oh, how America loves its money!!

    Wall Street is an obvious example. Our popular culture reflects it. American Idol. America’s Got Talent. The Voice. The Bachelor. The Bachelorette. Any game show on TV. White-collar businesses. (Ever check out the CEO to employee pay ratios at some of those companies?)

    These “reality” TV shows wouldn’t be so popular if the winner received a laurel wreath, instead of a million dollar recording contract…

  • Mudpie

    Wealth used to be earned mostly by creating something others wanted to buy voluntarily. It is now earned by rent seeking at others’ expense. Capitalism versus socialism versus fascism. So now, indeed, many of the so-called “filthy rich” really ARE filthy.

  • Bruce

    Being rich or even well off is a blessing these days. However, I assure you that the day is coming when that wealth will be your demise. The wealthy will have targets on their backs. People will despise them and hunt them down. They will be kidnapped, robbed and murdered left and right. They will be tracked down like rabid dogs. Their bucks will be an albatross around their necks.

  • Not every American is obsessed with wealth. The continual media coverage may be the 1% “spiking the ball” in everyone else’s faces, reminding people of things they cannot obtain.

  • Wise guy

    We’re all just a corpse in the end.

  • Daystrom2012

    1Tim 6;10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

    Psalm 9:17 The wicked shall be turned into hell, and all the nations that forget God.

    We are there….

  • Bubba Johnson

    Greed is GOOD.
    That as an American you had the opportunities to become the best you could be. Along came the riches sometimes.
    The class warfare program by LIBERALS and their presidential leader seems to be working on you Micheal.
    I sure miss the good old days.

    • Gay Veteran

      you sound like a corporate tool.
      the mega-corporations are destroying the middle class in America

  • Freeman-on-the-Land’s credo:
    And God said; I will provide all that you ask for: THINK!
    I will fulfil all of your needs: THINK!
    Imagine, dream and think are three different words with three different definitions.
    You can imagine a billion dollars.
    You can dream about a billion dollars.
    Now, if you thought about it, spent a little time thinking about it, you wouldn’t know what to do with a billion dollars. Whereas,
    What you can think about is, a good roof over your head, your family clothed and fed………and not have to worry about
    “The reason we have definite written rules, is to combat the arguments of stupid and opinionated men.”

  • Hoosier John

    My wife and I were just talking about TV. Its impossible to sit down and watch our favorite shows with out being bombarded with commercials every 3 minutes. Sometimes the same ones in a row. Its all about money,,,

    • Adrian

      I have gone without cable for over a year now and just use Netflix and don’t miss cable TV at all. I save about $ 50 a month and you’d be surprised at how much you can get from you tube and Netflix.

  • Olivier Francoeur

    Without Greed, you would be dead.

  • Olivier Francoeur

    If you dont like wealth, you can pursue poverty by keeping on building ferraris. I want wealth, so Im gonna grow food and raise horses. You guys keep your poverty, and your hate for prosperity.

    • Guest

      Are we reading the same thread ? The “hate” is toward greed, not prosperity.
      Building Ferraris??

      • Olivier Francoeur

        Wanting to live is greed. Greed and life are intertwined. Go ahead and deny your own nature. It wont work, but you can try, be my guess.

        P.S: Building ferraris will destroy wealth, so those who drive ferraris are actually less greedy than those who are planting a garden(ie those who will be rich when the ferrari owners have gone broke).

        I am the greediest man alive, and that is why ferraris dont interest me; I want to be rich, not poor. Egalitarianism is idolized envy.

      • Olivier Francoeur

        Greed is how you get prosperity.
        People who buy ferraris arent greedy, theyre just stupid; they wont have much to show for it.

  • krinks

    Our last two cars were in 2012, a Honda Fit and a Honda Civic. While looking I was pondering how foolish it must be to spend 30-40K when 16K will do just fine. Same with homes. Unless one is a traditional Mormon who needs 10,000 square feet and 10 bedrooms? Silly.

  • Maneb

    Why report REAL news when the media can report this type of drivel?

  • True, CNN has many articles on signs of greed, but then who watches CNN?

  • frank1569

    The wealth-addicted – like any other addict – cannot control themselves. Obviously.

    Signs of severe wealth-addiction include: hoarding more than you’ll ever need; doing ‘whatever necessary’ to take from others no matter the consequences; lack of empathy for your fellow man or the future of Earth.

    And it is our responsibility as a society, for the safety of the many, to control those who cannot control themselves, whether they’re drunk drivers, drug abusers, or wealth-addicts.

    We are NOT all greedy. If we were, we’d have no cops, teachers, nuns, firefighters, an all volunteer military, nurses, etc. And it’s up to us not-greedy to leash the mentally ill super-greedy before it’s too late.

  • GSOB

    The Lord commonly gives riches to foolish people, to whom he gives nothing else.

    – Martin Luther

    • Guest

      Good one!

      ” And in hell he [the rich man] lift up his eyes, being in torments, and seeth Abraham afar off, and Lazarus in his bosom. And he cried and said, Father Abraham, have mercy on me, and send Lazarus, that he may dip the tip of his finger in water, and cool my tongue; for I am tormented in this flame. But Abraham said, Son, remember that thou in thy lifetime receivedst thy good things, and likewise Lazarus evil things: but now he is comforted, and thou art tormented.”

      Luke 16:23-25

  • RICH BITCH

    I do not care if someone is ‘filthy rich’ so long as I have the same opportunity and playing field. Our so-called financial ‘elite’ are making it harder and harder for an average person to acquire ANY amount of wealth and that is despicable! But when Average Joe finally wakes up to this, it will be drawing and quartering time! Hooray!

  • horse777res

    “For what shall it profit a man if he gains the whole world and lose his own soul. Mark 8:36″ If you know CHRIST as your SAVIOR you are rich beyond all measure!!!!!!

    • Paul

      AMEN!

  • abinico

    The pursuit of wealth has already condemned humanity. Events like Fukushima, Three Mile, Chernobyl have put a radioactive haze over this planet that is the start of a slow extinction level event. Add the constant stress introduced by GMOs, HFCS, and artificial colors/flavor and you’ve got the complete formula for human extinction. The poor shall not inherit the earth – the cockroaches will.

  • GSOB

    God would prefer gold money to paper.

    – Gary North

  • Dan Hanner

    If it wasn’t for “greed is good” you wouldn’t have the medical technology that we have. In fact, a lot of the technology we have was created or invented becausenof greed. So don’t knock it!

    • Adrian

      Yeah, only problem is that we don’t all have access to it. Why not? Greed.

  • FortuneSeek3rz

    Having a lot of toys helps you pass the time. There is nothing wrong with being wealthy as long as you continue to respect others and treat them as you would want to be treated.

  • nohomehere

    Hosea 8:4 They set up kings without my consent; they choose princes without my approval. With their silver and gold they make idols for themselves to their own destruction.
    Hosea 8:8 Israel is swallowed up; now she is among the nations like something no one wants.

    Hosea 8:10 Although they have sold themselves among the nations, I will now gather them together. They will begin to waste away under the oppression of the mighty king.

    Hosea 8:7 “They sow the wind and reap the whirlwind. The stalk has no head; it will produce no flour. Were it to yield grain, foreigners would swallow it up.

    Hosea 7:10 Israel’s arrogance testifies against him, but despite all this he does not return to the LORD his God or search for him Maker and built palaces; Judah has fortified many towns. But I will send fire on their cities that will consume their fortresses.”
    Hosea 7:8 Ephraim mixes with the nations; Ephraim is a flat loaf not turned over.
    James 5:3 Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days.

    James 5:7 Be
    patient, then, brothers and sisters, until the Lord’s coming. See how
    the farmer waits for the land to yield its valuable crop, patiently
    waiting for the autumn and spring rains.

  • quercus454

    Lord won’t you buy me a Mercedes Benz? My friends all drive Porsches, I must make amends.

  • Adrian

    Greed is part of capitalism, and it is also the solvent that is eating away at us socially, culturally, politically, and morally (perhaps even spiritually, for many). There comes a point when one is very rich to push away from the table and say to themselves, “ok, I have enough for me and my family for our lifetimes. Now let my business be to start helping others.” This help comes in many ways and forms: enduring higher taxes, donating money to help the poor, engaging in philanthropy, etc. During the 1950s and 60s we had top tax rates of 90% and we built national projects and saw the middle class prospering every year and had a thriving economy. There is enough for everybody to have something decent and to end global hunger and eradicate many diseases, but greed stops this. I myself am glad not to be very materialistic and am happy with earning enough to have a nice house, have enough to pay my bills and debts, and get a new car every 10 years or so when I need it, and to take a vacation once a year. I wish more were like this.

    • Gay Veteran

      back in the 50s the corporate CEOs and bankers didn’t live in palaces like they did after 1980

    • Drud

      I have often asked myself this question: “Why do billionaires even exist?” It is interesting to me, because I would never get there, and I suspect very few would. Most people have pretty basic needs, and though we all suffer from envy, very few would keep grinding away after accumulating enough wealth to last 10 lifetimes. But they are out there, over 1000 billionaires today. I think that may be the ultimate question of society, how to keep those who would dominate from doing so? I don’t think there is a perfect answer, but at least this is the right question.

  • Paul

    Matthew Ch 6:19 “Do not store up for yourselves wealth here on earth, where moths and rust destroy, and burglars break in and steal. 20 Instead, store up for yourselves wealth in heaven, where neither moth nor rust destroys, and burglars do not break in or steal

  • K

    They would not wipe out their labor force. But with automation, they just do not need as many. How many times have we heard the term useless eaters. I assure you they mean it. Time and time again we hear, man has become too much of a burden on the planet. All you hear from these so called elites, is population reduction. Yes primitive forces can hold out against superior forces. So long as the superior forces deny themselves, the use of advanced weapons. Only a madman would use such weapons. I believe these elites, are madmen.

  • Harrison Bergeron

    The bad thing is – when America goes under… there’s nowhere to run to. Thoughts?

  • danbax

    for a man’s life consists not in the abundance of the things which he possesses

  • Bob332

    When the turd hits the fan AND IT WILL the corrupt politician’s, banksters and the other greedy fat bastards will be running for the hills, if not for their lives.

  • Randy Townsend

    God teaches “give”. Satan teaches “get”. It will never end until Christ returns, because man has rejected God’s way in favor of Satan.

  • Priszilla

    When I lost my job the first books I sold were those motivational and self help books. I replaced them with 50 and 100 year old books about farming, house repair, cleaning, carpentry, house repair, etc.
    With more old people dying there are more old books on the market.

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