The monetary policy was supposed to boost the economy via quantitative easing (QE).  However, unemployment and under-employment are relatively high.  Wages for the 99% are flat or declining.  Yet profits at Goldman Sachs doubled.  This is likely due to Gold-man’s ability to borrow at low rates (QE) and gamble with that borrowed money.  But when those gambles don’t work out (e.g., the depression and recent recession) we taxpayers bail them out. 

Meanwhile, the 99% earn near zero interest paid on savings accounts.  QE, unemployment high, wages flat, deposit rates zero, and Goldman Sachs profit doubles?  Sure seems like wealth transfer from the 99% to the 1%…

http://m.usatoday.com/article/news/2519533http://m.usatoday.com/article/news/2519533

Yet another way for big banks to extract wealth from the poor masses and ultimately give it to the few wealthy executives by way of bonuses.  The sad thing in this case is that employers are in on the deal.  As an employer I will force you, my low wage worker, to incur fees to access your paycheck so I can save on my payroll administration costs and perhaps even get a kickback from the big banks.

Everyone: get a checking account at a credit union and demand that your employer direct deposit there.  If the employer will not, quickly find one that will.  Sooner or later the boss will realize they can’t hire anybody while forcing workers to incur fees to access their paycheck.

http://mobile.nytimes.com/2013/07/01/business/as-pay-cards-replace-paychecks-bank-fees-hurt-workers.html?pagewanted=all&

The notion of tax cuts came up in casual conversation a few days ago. While unpacking from my recent move I stumbled across an Economic Policy Institute article from 2005/2006 (Price2005_No_Boom). Long story short, tax cuts can boost an economy if directed at the middle class. However, the Bush tax cuts benefited Bill Gates much more. $860B+ in tax cuts but no economic growth to show for it. Please read the article for yourself and reach your own conclusions.

However, remember, do not cling to what you “know” because if you do, when understanding comes knocking at your door you will not answer. Then what are you clinging to? Continually update your understanding my friends…

http://www.pewsocialtrends.org/2013/04/23/a-rise-in-wealth-for-the-wealthydeclines-for-the-lower-93/

Who is going to take a cut? Those who worked 20 years and retired or the investors who took the risk in buying Stockton bonds? I wonder if the pension fund (CalPERS) also owns Stockton bonds… http://mobile.reuters.com/article/idUSBRE9300GP20130402?irpc=932

All I can say right now is “wow!”

http://rt.com/usa/monsanto-congress-silently-slips-830/