Middle Class vs. the 1%: It’s About to Get Really Ugly

Yahoo Finance - Breakout ^ | September 5, 2012 | Jennifer Carinci

[QT3.14]

Expectations are high leading up to the President Obama's acceptance speech in Charlotte, NC on Thursday evening, as they were last week in Tampa for Republican nominee Mitt Romney. With a campaign slogan like "Forward" you'd think, and hope, the Obama Administration has moved passed the blame game politics of the last four years, pointing the finger at the Bush Administration as the root of all of America's economic problems.

"What you're going to hear is 'we have done everything we could to right the ship, to make sure that we are headed towards recovery. We may not be there yet, but don't change course,'" says Ed Mills, financial policy analyst at FBR Capital Markets. '"If you change course, the people who get the benefit of this recovery are not going to be you, but it is going to be Mitt Romney's pals and the top one-percent."'

[QT3.14]

Of course Democrats will say nothing about having a total grip for two years and did nothing but pour bucks down the drain for cronies, wasted green programs, etc., etc. And, of course shoving OCare down our throats instead of addressing the economy.

[STD]

Why post Yahoo News. They are hard leftwing Obama contributors. Don’t post Yahoo’s lies!

[lucky american]

I just read some of the yahoo comments. Either the Republicans have nothing to do and are overwhelming the site or people are waking up to what another Obama presidency would mean for the USA.

[Cyber Liberty]

I disagree. We need to see what the other side is reading.

[Carry_Okie]

The Democrats are the Party of the .01%. They don’t want the competition from the .99%. That’s what this is about.

[QT3.14]

Why post Yahoo News. They are hard leftwing Obama contributors. Don’t post Yahoo’s lies!

Figures. Spouting off without giving examples. Are you the self-appointed Posting Police?

FReepers are intelligent enough to decide on their own what is truthful. That is the point of forums: Exchange of opinions - instead of burying our heads in the sand and not challenging assertions.

[Lorianne]

Thank you.
Been saying that for 10 years hear at FR.

Not many seem to get it.

[Lorianne]

The whold 1% vs 99% meme is backfiring badly on the left

[Melas]

Bad plan. It’s always good to be aware of what’s being disseminated to the public whether you agree with it or not.

[familyop]

It’s the middle class vs. the middle class, too. Nearly all of them derive their incomes from socialism now and are pushing, local socialist vs. federal socialist, teachers vs. planners/inspectors, retired socialist vs. employed socialist, NGO recipients vs. remnant of private sector (services funded by customers with government incomes), for federal funding before austerity cuts. Piranhas. Interesting.

[Iron Munro]

With a campaign slogan like "Forward" you'd think, and hope, the Obama Administration has moved passed the blame game politics of the last four years"

Obama loves us all. He was sent to us to show us THE WAY.

He only wants us to hate each other so we can save our love for him.

[MNJohnnie]

Yep it is going to get ugly. Look at the economic data, three straight months of contraction. The 0 Democrats have driven the US Economy right back into recession.

[lentulusgracchus]

Are you the self-appointed Posting Police?

What, are you, newbie?

[griswold3]

Value capture outnumber value creation
You know what happens. Those who are employed by the public sector do NOT pay taxes. They are net consumers of value created dollars. The population of those who create value, and thereby create actual wealth for society, is diminishing.

[Max in Utah]

“Rommel, you magnificent bastard— I read your book!” —Gen. George S. Patton Jr.

[Buckeye McFrog]

Absolutely. For one thing they telegraph in their writings the next outrageous thing they intend to spring on us all. I have noticed that the full life cycle from insane online rant by a Leftist academic to official Obama Administration policy is about two years.

[dmcnash]

So true. Before you can redistribute wealth you have to create wealth. Also from Biology: Successful parasites don’t kill their hosts. I don’t think the class warriors understand these concepts.

[familyop]

"Value capture outnumber value creation
You know what happens. Those who are employed by the public sector do NOT pay taxes. They are net consumers of value created dollars. The population of those who create value, and thereby create actual wealth for society, is diminishing."

Agreed. Very well said. It's sad.

Also, those who create wealth are running out of safe venues of investment because of the spending, regulations and their own support for libertine social experiments. Maybe we're all in for some lessons. There's no absolute culprit. There's no vast, overarching conspiracy. There are only the consequences of many tiny conspiracies and many unhealthy individual desires.

[TurboZamboni]

Americans saw wealth plummet 40 percent from 2007 to 2010, Federal Reserve says
http://www.washingtonpost.com/business/economy/fed-americans-wealth-dropped-40-percent/2012/06/11/gJQAlIsCVV_story.html

U.S. poverty heads toward highest level in 50 years

http://www.chicagotribune.com/business/breaking/chi-us-poverty-heads-toward-highest-level-in-50-years-20120723,0,5437495.story

The United States now ranks fifth, overtaken by Sweden and Singapore in the 2011-2012 rankings of the World Economic Forum’s Global Competitiveness report.

http://www.ibtimes.com/articles/209890/20110907/united-states-united-kingdom-sweden-and-singapore-2011-2012-rankings-of-the-world-economic-forum-s-g.htm

[Mr. Peabody]

FBR Capital Markets is an investment bank.