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

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?

The U.S. Has An Even Larger Gap Between The Rich And The Poor Than Downton Abbey Does

The U.S. Has An Even Larger Gap Between The Rich And The Poor Than Downton Abbey DoesThere are two very different Americas today.  In one, the stock market is soaring, high end homes are selling briskly, big banks and hedge funds are rolling in money as if the last financial crisis never even happened, and life is really, really good.  In the other America, good jobs are incredibly scarce, incomes are declining, and poverty is skyrocketing to levels that we have never seen before.  The gap between the wealthy and the poor in America is getting wider with each passing day.  In fact, it is my contention that the U.S. has an even larger gap between the rich and the poor than Downton Abbey does.  If you have never seen Downton Abbey, you really should.  It is one of the most extraordinary shows to appear on television in years.  It is a drama set in the UK which follows the lives of the aristocratic Crawley family and their servants throughout the early part of the 20th Century.  It can be a bit jarring to watch servants wait on their masters hand and foot and refer to them by such titles as “Lord” and “Lady”, but the truth is that in many ways there is more inequality today than there was back then.  As far as people living in the worst areas of cities such as Detroit and Cleveland are concerned, the socialites that live on Fifth Avenue in New York City or in multi-million dollar homes out in the Hamptons might as well be from another planet.  If you have lots of money, America is still a really great place to live.  If you barely have any money, America can be really cold and cruel.  Sadly, our politicians continue to pursue policies that make things even better for those working for the establishment in places such as Washington D.C. and Manhattan, and worse for all the rest of us.  This has especially been true over the course of the past four years.  If nothing is done, the gaping chasm between the rich and the poor will continue to get even worse, and in the end that will have some really severe consequences for our society.

So is the answer to raise taxes and “redistribute” more money to the poor?  Of course not.  Today, we are already paying dozens of different kinds of taxes every year and the government is handing out more money to people than ever before.  But poverty just continues to explode.

What the poor in the U.S. desperately need are good jobs, but we continue to ship millions of good jobs out of the country and Barack Obama continues to pursue policies that are killing the U.S. economy.

There is not much help on the horizon for the poor or the middle class in America, and that should be distressing for all of us.

But things in the wealthy parts of America are going absolutely wonderfully right now.  Let’s take a few moments and contrast what life is like in the two Americas right now…

In the “good America”, stocks are absolutely soaring.  In fact, the S&P 500 closed above 1,500 on Friday for the very first time in more than five years.

In the “bad America”, poverty statistics just continue to get worse.  According to a newly released report, 60 percent of all children in the city of Detroit are living in poverty.

In the “good America”, hedge funds are rolling in the profits.  The Dow just had its best January since January of 1994, and many analysts are projecting that 2013 will be a banner year for the markets.

In the “bad America”, median household income has fallen for four years in a row, and millions of families are really struggling to find a way to pay the bills each month.

In the “good America”, expensive homes are selling at a pace that we have not seen in years.  Just check out what is happening in the Hamptons.  According to the National Association of Realtors, sales of homes worth at least a million dollars were 51 percent higher in November 2012 than they were in November 2011.

In the “bad America”, there are hordes of young adults that cannot find jobs and cannot take care of themselves.  Shockingly, U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

In the “good America”, the “too big to fail” banks are partying like it was 2005 again.  For example, revenues at Goldman Sachs increased by about 30 percent in 2012 and Goldman stock has soared by more than 40 percent over the past 12 months.

In the “bad America”, poverty is exploding and government dependence has become a way of life.  If you can believe it, the number of Americans on food stamps has grown from about 17 million in the year 2000 to more than 47 million today.

In the “good America”, those working for the establishment will do just about anything to make a buck.  For instance, Goldman Sachs made 400 million dollars driving up food prices in 2012 while hundreds of millions around the world existed on the edge of starvation.

In the “bad America”, millions of families are wondering how they will make it until next month.  If you can believe it, more than a million public school students in the United States are homeless.  This is the first time that has ever happened in our history.

In the “good America”, everyone has a good ride.  In fact, sales of luxury German-made vehicles set new all-time records in 2012.

In the “bad America”, those that have lost everything are shunned and ostracized.  In fact, many communities all over America are actually making feeding the homeless illegal.

The fact that there is poverty in America should not alarm you.  Every country in the world has poverty.  What should alarm you is how rapidly it is growing.  Even though the Obama administration tells us that we are in an “economic recovery”, things just continue to get worse.  The wealthy elitists in Washington D.C. and New York City may be doing wonderfully, but the truth is that the middle class continues to shrink and just about every poverty statistic that you can think of continues to rise.

If you are convinced that we do not have a “wealth gap” problem in the United States today, just check out the following statistics.  Most of them are from one of my previous articles entitled “The Middle Class In America Is Being Wiped Out – Here Are 60 Facts That Prove It“…

-According to the Economic Policy Institute, the wealthiest one percent of all Americans households on average have 288 times the amount of wealth that the average middle class American family does.

-In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

-According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.

-The six heirs of Wal-Mart founder Sam Walton have as much wealth as the bottom one-third of all Americans combined.

-At this point, the poorest 50 percent of all Americans collectively own just 2.5% of all the wealth in the United States.

-The United States now ranks 93rd in the world in income inequality.

-The average CEO now makes approximately 350 times as much as the average American worker makes.

-Today, corporate profits as a percentage of U.S. GDP are at an all-time high, but wages as a percentage of U.S. GDP are near an all-time low.

Sometimes, when the “good America” and the “bad America” collide, the results are quite humorous.

For example, a 23-year-old homeless Brazilian man and his friends recently decided to “move in” to a 7,522 square foot house down in Florida that is valued at $2.1 million.  The following is from a recent article in the Orlando Sentinel

Bank of America has filed to evict nine squatters from a $2.5-million mansion in a posh Boca Raton neighborhood.

In a filing in Palm Beach County court that names 23-year-old Andre De Palma Barbosa and eight other unknown people, the bank claims rightful ownership of the home – despite Barbosa’s attempt to stake his claim on the foreclosed waterside property by using an obscure Florida real estate law.

Barbosa has been invoking a state law called “adverse possession,” which allows someone to move into a property and claim the title – if they can stay there seven years.

A signed copy of that note is also posted in the home’s front window.

Yeah, they will be able to get him and his friends out of there eventually, but in future years I fear that the conflicts between the rich and the poor will not be so nice.

Already, a very ominous “Robin Hood mentality” is building among the poor in this country.  Many wealthy people don’t even realize that it is happening.  But someday when desperate “flash mobs” are roaming through their neighborhoods looking to do a little “creative redistribution”, then they will get it.

Our society is starting to come apart at the seams, and there is an incredible amount of tension between the rich and the poor.  This is unfortunate, but instead of calming things down many of our politicians are actually exploiting this tension.

When our economy crashes, the class warfare of today may actually turn into real war in the streets.  Desperate people do desperate things, and when people are hungry and they can’t feed their families, many of them will not be afraid to go over to the wealthy neighborhoods and take what they want.

A lot of people don’t want to see them, but dark clouds are building.  According to a recent Gallup poll, Americans are more negative about where America will be five years from now than they have ever been before.  Most people know that we are on the edge of something really bad, even if they can’t really explain it.

It is time to get ready for what is coming.  Even though the stock market is soaring right now, that could change at any moment.  All of the long-term economic and societal trends are pointing to some really bad things in the years ahead, and sticking our heads in the sand and pretending that everything is going to be okay somehow is not going to help.

So what do you think about all of this?

Do you think that the U.S. has an even larger gap between the rich and the poor than Downton Abbey does?

Please feel free to post a comment with your thoughts below…

Downton Abbey

Rich Dad, Poor Dad, Prepper Dad? Even Robert Kiyosaki Is Warning That An Economic Collapse Is Coming

Are you familiar with Robert Kiyosaki? He is best known for the “Rich Dad, Poor Dad” series of books.  Over 26 million books authored by Kiyosaki have been sold and he is recognized as a financial expert by millions of people across the globe.  Well, guess what?  Even Robert Kiyosaki is warning that an economic collapse is coming.  In fact, Kiyosaki and his team of financial experts are encouraging Americans to stock up on food, guns and precious metals.  This is yet another sign of just how close we are to the total collapse of the U.S. Economy.  Kiyosaki, who once co-authored a book with Donald Trump entitled “Why We Want You To Be Rich” is now a full-fledged prepper.  As even more prominent Americans start warning that an “economic collapse” is coming do you think that the American people will finally wake up and start paying attention?

The statements that Robert Kiyosaki makes in the video posted below are absolutely jaw-dropping.  Once upon a time he was all about teaching people how they could get rich, but now he is talking about storing food, buying guns, investing in precious metals and preparing for the coming crash.

The following are 11 of the best Kiyosaki “sound bites” from the video below….

#1 “when the economy crashes as we predict”

#2 “the crowds come rushing in to buy gold and silver”

#3 “we could either go into a depression or we go to hyperinflation”

#4 “or we could also go to war”

#5 “buy a gun”

#6 “I’m preparing”

#7 “I’m prepared for the worst”

#8 “so come to my house and I’m armed and dangerous and I’ll welcome you”

#9 “we have food, we have water, we have guns, gold and silver, and cash”

#10 “the credit card system shuts down, the world shuts down”

#11 “the supermarkets have less than 3 days supply”

If you have not seen this video yet, it is definitely worth the 8 minutes that it takes to watch it.  Robert Kiyosaki seems to be extremely alarmed about the future of the U.S. economy….

It certainly seems as though the entire financial culture in America is changing.

Once upon a time everyone wanted to know how to get rich.

Now everyone wants to know how to survive the collapse that is coming.

As I have written about previously, even people like Tony Robbins and Donald Trump are warning that an economic collapse is coming.

Economic pessimism is seemingly everywhere and almost every recent survey indicates that the American people are losing faith in the U.S. economy.

For example, in a recent article I noted that 48 percent of Americans believe that it is likely that another great Depression will begin within the next 12 months.

According to Gallup, the percentage of Americans that lack confidence in U.S. banks is now at an all-time high of 36%.  Back in 2007, just 14% of Americans lacked confidence in U.S. banks.

In order for society to function correctly, people need to be able to trust each other and they need to be able to trust the major institutions that hold society together.

Once confidence in our major societal institutions is gone, it is going to be incredibly difficult to get it back.

Sadly, the reality is that many of our major financial institutions have been untrustworthy for a very long time.  It is just that the American people are only just now starting to wake up to that fact.

For example, the Federal Reserve has been at the heart of our economic problems for decades but most Americans have not realized it.

But now that is starting to change.  According to one recent poll, only 30% of Americans currently view Federal Reserve Chairman Ben Bernanke favorably.

The American people are becoming increasingly dissatisfied with an economic system where the vast majority of the rewards flow to Wall Street, the big banks, the biggest corporations and the ultra-wealthy.

According to the Washington Post, the top 0.1% of all income earners in the United States took home 2.6% of the nation’s earnings in 1975.  By 2008, the top 0.1% were taking home 10.4% of the nation’s earnings.

The Washington Post also says that after adjusting for inflation, the average income of the top 0.1% of all Americans jumped by 385 percent between 1970 and 2008 while the average income for the bottom 90 percent of all Americans actually fell by one percent.

The sad truth is that income inequality in the United States has become a major problem.  A very small sliver of the population is reaping almost all of the rewards and the middle class is being ripped to shreds.  Conservatives, liberals, Democrats, Republicans and libertarians should all be alarmed by this.

Meanwhile, the national debt continues to explode.  Right now, U.S. government debt is expanding at a rate of $40,000 per second.

Every single minute we steal another 2 million dollars away from our children and our grandchildren.

But if we stop this theft it would throw the U.S. economy into a horrible economic crisis that would be far worse than what we are experiencing right now.

That is why the vast majority of our politicians do not have the guts to do it.

We truly are caught between a rock and a hard place.

But people like Robert Kiyosaki can see what is coming, and they are getting prepared.

Are you prepared?

Many of our young people have come up with their own versions of an “economic stimulus plan”.  In past articles I have documented many of the signs that society is collapsing, including the disturbing rise of the “mob robbery” phenomenon.

Well, just the other day there was another very shocking mob robbery in the city of Philadelphia.

On Thursday, a mob of 40 teens and young adults invaded a Sears department store on 69th Street, grabbed all of the merchandise that they could carry, and stormed right back out again.

We are starting to see these kinds of large scale crimes happen from coast to coast.

So what is going to happen to America if the economy experiences the kind of full out collapse that Robert Kiyosaki is talking about?

We live in very interesting times.

I hope that you are getting prepared.

Rich vs Poor: 14 Funny Statistics And 14 Not So Funny Statistics About This “Economic Recovery”

Today there are two very different Americas.  In one America, the stock market is soaring, huge bonuses are taken for granted, the good times are rolling and people are spending money as if they will be able to “live the dream” for the rest of their lives.  In the other America, the one where most of the rest of us live, unemployment is rampant, a million families were kicked out of their homes last year and hordes of American families are drowning in debt.  The gap between the rich and the poor is bigger today than it ever has been before.  In fact, this article is not so much about “rich vs poor” as it is about “the rich vs the rest of us”.  Barack Obama and Ben Bernanke keep touting an “economic recovery”, but the truth is that the only ones that seem to be benefiting from this recovery are those at the very top of the economic food chain.

Below you will find 14 funny statistics about this economic recovery and 14 not so funny statistics about this economic recovery.  Actually, if you find yourself deeply struggling in this economy you will probably not find any of the statistics funny.  In fact, you will probably find most of them infuriating.  After all, there are very few people that actually enjoy hearing about how well the rich are doing when they are barely able to pay the mortgage and put food on the table.

In any event, the 28 statistics below show the stark contrast between the “two Americas” that share this nation today.  Many liberals will likely try to use these statistics as an example of why we should tax the rich.  But handing more money to the government is not going to magically create more jobs for the poor.  What the American people desperately need are good jobs, and many liberals don’t seem to understand that.  Many conservatives will likely try to use these statistics as evidence that “capitalism” is working.  But the truth is that what we have in the United States today is not capitalism.  Rather, it is more aptly described as “corporatism”, because money and power is increasingly becoming concentrated in the hands of gigantic corporations that individuals and small businesses simply cannot compete with.  The truth is that when wealth is concentrated at the very top it does not “trickle down” to the rest of us.  In the old days the wealthy at least were forced to hire the rest of us to run their factories and their businesses, but with the advent of globalism that isn’t even true anymore.  Now they can just move their factories and businesses overseas to places where they can legally pay slave labor wages to their employees.

Very large concentrations of money and power are almost always bad for the prosperity of average citizens.  Our founding fathers never intended for our central government to have so much power and they never intended for giant corporations to have so much power.  But we have abandoned the principles of our founding fathers.

When large concentrations of power (whether governmental or corporate) are allowed to flourish, it almost becomes inevitable that the gap between the rich and the poor will grow.  We are seeing this happen all over the world today.

Unfortunately, it does not appear that any of this is going to change any time soon.  In the United States, both the federal government and multinational corporations are constantly attempting to grab even more power.  It has gotten to the point where individual Americans really don’t have much power left at all.

In any event, hopefully you will find the following statistics informative or at least entertaining.  The wealthy are most definitely enjoying an “economic recovery” while most of the rest of us are still really struggling….

Funny – Who said that the titans of Wall Street couldn’t look hot?  According to the American Society of Plastic Surgeons, facelifts for men jumped 14 percent last year.

Not Funny – According to the U.S. Labor Department, unemployment actually increased in 351 of the 372 largest U.S. cities during the month of January.

Funny – The average bonus for a worker on Wall Street in 2010 was only $128,530.  It appears that more Wall Street bailouts may be needed.

Not Funny – During this most recent economic downturn, employee compensation in the United States has been the lowest that it has been relative to gross domestic product in over 50 years.

Funny – According to DataQuick Information Systems, the sale of million dollars homes rose an average of 18.6 percent in the top 20 major metro areas in the U.S. in 2010.  But is spending a million dollars on one house really worth it?  After all, over the past several years there have been times when you could buy a house in some bad areas of Detroit for just one dollar.

Not Funny – In 2010, for the first time ever more than a million U.S. families lost their homes to foreclosure, and that number is expected to go even higher in 2011.

Funny – According to Moody’s Analytics, the wealthiest 5% of households in the United States now account for approximately 37% of all consumer spending.  Most of the rest of us don’t have much discretionary income to spend these days, but at least we have Justin Bieber, American Idol and Dancing with the Stars to keep us entertained.

Not FunnyAccording to Gallup, the U.S. unemployment rate in mid-March was 10.2%, which was virtually unchanged from the 10.3% figure that it was sitting at exactly one year ago.

FunnyAccording to the Wall Street Journal, sales of private jumbo jets to the ultra-wealthy are absolutely soaring….

Sales of private jumbo jets are so strong that Airbus and Boeing now have special sales forces devoted to potentates and the hyper-rich.

Not Funny – There are now over 6.4 million Americans that have given up looking for work completely.  That number has increased by about 30 percent since the economic downturn began.

Funny – Porsche recently reported that sales increased by 29 percent during 2010.  Even Porsche jokes are coming back into style….

Question: Why did the blonde try and steal a police car?

Answer: She saw “911” on the back and thought it was a Porsche.

Not Funny – Approximately half of all American workers make $25,000 a year or less.

Funny – Cadillac recently reported that sales increased by 36 percent during 2010.

Not Funny – According to the U.S. Energy Department, the average U.S. household will spend approximately $700 more on gasoline in 2011 than it did during 2010.

Funny – Rolls-Royce recently reported that sales increased by 171 percent during 2010.

Not Funny – According to a new study by America’s Research Group, approximately 75 percent of all Americans are doing less shopping because of rising gasoline prices.

FunnyAccording to the New York Post, Barack Obama enjoyed a total of 10 separate vacations that stretched over a total of 90 vacation days during the years of 2009 and 2010.  Apparently Barack Obama was not talking about himself when he told the American people the following….

“If you’re a family trying to cut back, you might skip going out to dinner, or you might put off a vacation.”

Not Funny – When 2007 began, 26 million Americans were on food stamps.  Today, an all-time record 44 million Americans are on food stamps.

Funny – Ralph Lauren reported a 24 percent increase in revenue in the fourth quarter of 2010.  It is good to know that preppies are thriving in this economy.

Not Funny – The Ivex Packaging Paper plant in Joliet, Illinois is shutting down for good after 97 years in business.  79 good jobs will be lost.  Meanwhile, China has become the number one producer of paper products in the entire world.

Funny – Luxury jewelry retailer Tiffany & Co. recently announced that their profits increased by 29 percent in the 4th quarter of 2010.  All of the men that did not buy their women jewelry during the holidays are trying to keep this particular news item from getting passed around.

Not Funny – Average household debt in the United States has now reached a level of 136% of average household income.

Funny – In 2009, only 18,288 vehicles with a price tag of $100,000 or more were sold in the United States.  In 2010, 32,144 such vehicles were sold.  It appears that “showing off for chicks” is now very much back in style.

Not Funny – The U.S. economy now has 10 percent fewer “middle class jobs” than it did just ten years ago.

Funny – Porsche has announced that they will soon be taking orders for their first hybrid sports car, the 918 Spyder.  The price tag on one of these puppies will only be $845,000.

Not Funny – The average CEO now makes approximately 185 times more money than the average American worker.

Funny – Barack Obama recently played only his 61st round of golf since moving into the White House.  Many are now concerned that Obama is simply not getting enough free time.

Not Funny – According to one recent study, 21 percent of all children in the United States were living below the poverty line during 2010.

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