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Fraud*
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Tuesday, September 13, 2011

The People Suffer While Goldman Sachs People Profit


Larry's Corner

This data just released by CNN:

More Americans fell below the poverty line last year, according to U.S. Census Bureau data released Tuesday.
The nation's poverty rate rose to 15.1% in 2010, up from 14.3% in 2009 and to its highest level since 1993.
Last year marked the third year in a row the rate increased. All told, 46.2 million people are considered in need. In addition, real median household income last year was $49,445, a 2.3% decline, the Census Bureau reported.
Not published in this news alert from CNN but data I have seen recently, indicates that over 40 million people are now receiving food stamps and over 5 million children go to sleep hungry in this country each night.

The increase in food stamp participants are largely from what used to be the GREAT American middle class.
Amazing that the only industry that seems to be flourishing - at least in terms of personal incomes - is the financial bankster industry.

Stay tuned folks, this REcession is still alive and well and will continue for the next several years.  Unless you have not noticed, unemployment is on the rise with zero new jobs last month and close to 900,000 newly unemployed in just two weeks of last month.

In case you have not noticed, inflation - a word we do not hear about much these days as it is obviously kept under raps by our beloved government - is on the rise.  How do I know?  No, I am not an economist nor am I a researcher.  I am however, a shopper, that average Joe (not rally my name) that has some very basic needs like food and fuel.  While I try to shop wisely, I notice that prices in grocery stores have gone up as much as 40% in some cases.  Even in so called discount or low price grocery stores like Aldi's, where at the beginning of the year I paid $2.29 for a gallon of milk, the price is now 2.99 an increase of 31%.  Eggs were 97 cents a dozen they are now $1.49/doz, an increase of 54%.

Fuel prices we all see at the pumps so no need to go into that but in general there has been over a 30% increase there.  It is interesting to see that when oil used to be $86/barrel that the price per gallon at the pump was in the low $2 range but recently when oil was at that same price per barrel our price at the pumps was at arund $3.75.  How can you explain that?  Perhaps some manipulation between the oil companies and the banksters?  Do you think Goldman Sachs is profiting off of the increase profits being made by the oil companies?

Of course, when our government calculates inflation they do not include food in those figures.  Our inflation reports for years now have been inaccurate - another lie from our beloved government gone wild.  It is my opinion that the first item on the list of inflation should be food as that is what most human beings will spend their money on first.  I believe that to sustain life one must have sustenance unless there is this plan of survival of the fittest (wealthiest).

From U.S Census Bureau:
The data presented here are from the Current Population Survey (CPS), 2011 Annual Social and Economic Supplement (ASEC), the source of official poverty estimates. The CPS ASEC is a sample survey of approximately 100,000 household nationwide. These data reflect conditions in calendar year 2010.
  • The official poverty rate in 2010 was 15.1 percent — up from 14.3 percent in 2009. This was the third consecutive annual increase in the poverty rate. Since 2007, the poverty rate has increased by 2.6 percentage points, from 12.5 percent to 15.1 percent.
  • In 2010, 46.2 million people were in poverty, up from 43.6 million in 2009—the fourth consecutive annual increase in the number of people in poverty.
  • Between 2009 and 2010, the poverty rate increased for non-Hispanic Whites (from 9.4 percent to 9.9 percent), for Blacks (from 25.8 percent to 27.4 percent), and for Hispanics (from 25.3 percent to 26.6 percent). For Asians, the 2010 poverty rate (12.1 percent) was not statistically different from the 2009 poverty rate.1
  • The poverty rate in 2010 (15.1 percent) was the highest poverty rate since 1993 but was 7.3 percentage points lower than the poverty rate in 1959, the first year for which poverty estimates are available.
  • The number of people in poverty in 2010 (46.2 million) is the largest number in the 52 years for which poverty estimates have been published.
  • Between 2009 and 2010, the poverty rate increased for children under age 18 (from 20.7 percent to 22.0 percent) and people aged 18 to 64 (from 12.9 percent to 13.7 percent), but was not statistically different for people aged 65 and older (9.0 percent).2
Footnotes:
1 The poverty rate for Blacks was not statistically different from that of Hispanics in 2010.
2 Since unrelated individuals under 15 are excluded from the poverty universe, there are 422,000 fewer children in the poverty universe than in the total civilian noninstitutionalized population.
See graph...click here
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4 COMMENTS:

Guest said...

...they can't hear your suffering.......



Nearly 5,400 congressional staffers have left the Hill for K Street over
the past decade, according to a new study by LegiStorm, a non-partisan
organization that tracks Congress and sells some of that data.

http://influencealley.nationaljournal.com/2011/09/5400-hill-staffers-have-gone-t.php


but you knew this...
Sleaze Watch: Former NY Fed Bank Supervisors Lobbying to Neuter Regulations
When is Chairman Bernanke going to shut the revolving door policy at
the Fed which allows senior officials of the DS&R to go to work for
the entities they regulate?…The relevant committees of Congress need
to start an immediate inquiry into the conflicts of interest that
seemingly are rife among senior managers at the Fed of New York and
the banks which they supervise…

http://www.nakedcapitalism.com/2011/04/sleaze-watch-former-ny-fed-bank-supervisors-lobbying-to-neuter-regulations.html

Guest said...

It's Not 2008, It Is 2007: Goldman Global Alpha Just Blew Up All Over Again


http://www.zerohedge.com/news/its-not-2008-it-2007-goldman-global-alpha-just-blew-all-over-again?



Goldman asset management CIO Domotorffy retires

Katinka Domotorffy leaves Goldman after 13 years

* Armen Avanessians and Ron Hua to take over her roles

* Global Alpha Fund down 12 percent year-to-date

http://www.reuters.com/article/2011/09/14/goldmansachs-assetmanagement-idUSS1E78D28Q20110914


http://www.zerohedge.com/news/its-not-2008-it-2007-goldman-global-alpha-just-blew-all-over-again?



Goldman asset management CIO Domotorffy retires

Katinka Domotorffy leaves Goldman after 13 years

* Armen Avanessians and Ron Hua to take over her roles

* Global Alpha Fund down 12 percent year-to-date

http://www.reuters.com/article/2011/09/14/goldmansachs-assetmanagement-idUSS1E78D28Q20110914

Guest said...

Save the king....or is that kings?

What Exactly Happened Today?


I don't know for sure, and we'll never know until everything
collapses, but I suspect that if countries like Greece and Italy and
Spain collapse, then the big too-big-too-fail Euro banks collapse. And
if that happens, I suspect that our too-big-to-fail banks - primarily
Citi, JP Morgan and Goldman - would collapse under the weight of a very
large amount of credit default derivatives and interest rate swaps that
require Euro bank counterparties to be able to fund in the event the
default parameters are triggered.


This scenario is startling similar to what happened right before
Lehman was allowed to tank, which triggered the big bailouts here. Only
this time the scale is Lehman x 50 or 100 because it includes a couple
of countries and all of the U.S./UK/European/Swiss To-Big-To-Fail Banks.
I also believe that what I just surmised has a very high probability
of being pretty close to what is actually going on. It also is
interesting to me that some big, anonymous banks/Central Banks are
lending/swapping out their gold holdings in order get their hands on
badly needed U.S. dollars to meet dollar liquidity needs: LINK



http://truthingold.blogspot.com/2011/09/what-exactly-happened-today.html

Anon said...

Goldman, Sachs & Co. acted as exclusive financial advisor to Solyndra in connection with this loan guarantee application.This scandal is rapidly becoming the gift that keeps on giving...






Solyndra Offered $535 Million Loan Guarantee by the U.S. Department of Energy

 

Fremont, CA, March 20, 2009 – Solyndra, Inc. announced today that it
is the first company to receive an offer for a U.S. Department of
Energy (DOE) loan guarantee under Title XVII of the Energy Policy Act
of 2005.  Solyndra, a Fremont, California-based manufacturer of
innovative cylindrical photovoltaic systems, will use the proceeds of a
$535 million loan from the U.S. Treasury’s Federal Financing Bank to
expand its solar panel manufacturing capacity in California.

 

http://www.zerohedge.com/news/another-popular-name-emerges-solyndra-scandal?

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