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Can Anything Cure the Ailing American Economy?
Started:August 29th, 2010 (09:10 AM) by Quick Summary Views / Replies:670 / 1
Last Reply:August 30th, 2010 (03:30 AM) Attachments:0

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Can Anything Cure the Ailing American Economy?

Old August 29th, 2010, 09:10 AM   #1 (permalink)
Quick Summary
Can Anything Cure the Ailing American Economy?

It increasingly seems as if the policy makers attending like physicians to the American economy are peering into their medical kits and coming up empty, their arsenal of pharmaceuticals largely exhausted, reports the New York Times.

More on CNBC...

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Old August 30th, 2010, 03:30 AM   #2 (permalink)
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Who REALLY destroyed the economy?

Guest Post: The Age of Mammon | zero hedge

"...From 1980 onward, the top 1% wealthiest Americans have progressively taken home a greater and greater percentage of all income. It peaked at 22% in 1999 at the height of the internet scam. Wall Street peddled IPOs of worthless companies to delusional investors and siphoned off billions in fees and profits. The rich cut back on their embezzling of our national wealth for a year and then resumed despoiling our economic system by taking advantage of the Federal Reserve created housing boom. By 2007, the top 1% again was taking home 24% of the national income, just as they did in 1928. When the wealth of the country is captured by a small group of ruling elite through fraudulent means, collapse and crisis becomes imminent. We have experienced the collapse, while the crisis deepens...."

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