Friday, October 22, 2010

Binocular Snapshot for 10/22/2010

LastDayWatchers the May 15th Prophecy warn you what to "watch" for in the post The Hypocrisy, The Promise & The Fulfillment

"A country which denies the human rights of its own citizens, which aspires to obtain mass destruction weapons, is a great danger to the entire world."

Is the hypocrite talking about Iran or Israel?,

The statement should read

"Israel which has denies human rights of its own citizens, and have obtained mass destruction weapons, is a great trouble to the entire world"

Here today is just more evidence that preview "see thou hurt not the oil and the wine", as God fatten up the rich for the kill!" the May 15th Prophecy also warn you about in the post  The Defining Moment and The Economic Collapse Prophecy

The haves, the have-nots and the dreamless dead

"In 2007, when the world was on the brink of financial crisis, U.S. income inequality hit its highest mark since 1928, just before the Great Depression

The United States and a handful of other economies were developing into "plutonomies" where the wealthy few powered economic growth and consumed much of its bounty, while the "multitudinous many" shared the leftovers.

Plutonomies come around only once or twice a century, he argued -- 16th century Spain, 17th century Holland, the Gilded Age. The last time it happened in the United States was during the "Roaring 1920s".

Deborah Coleman is one of the long-term unemployed. There is no disguising the anger felt by the 58-year-old former telecommunications company manager in Cincinnati, who has been out of work for more than two years.

"Am I pissed that I have lost everything while the rich on Wall Street are still living it up? You bet I'm pissed," she said. "I'm one of the many people who've lost everything and then been swept under the carpet."

If inequality can lead to financial catastrophe and voter outrage, should Washington try to stop it from getting too wide?

Obama's avoidance of spread-the-wealth comments would indicate the White House does not think there is political backing for policies aimed explicitly at redistribution.

However, at least one new arrival to Washington's policy-making scene, Fed Vice Chairman Janet Yellen, has expressed concern that extreme inequality could ultimately undermine American democracy.

"Inequality has risen to the point that it seems to me worthwhile for the U.S. to seriously consider taking the risk of making our economy more rewarding for more of the people," she wrote in a 2006 speech.

"Watch" then read how 100% accurate the May 15th Prophecy written at LastDayWatchers on what happen next!