Tag Archives: Welfare-Warfare State

JPMorgan To Exit Foodstamp, Other Prepaid Cards Business

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“Mess with us, we’ll mess with you. That is the message one can derive from JPMorgan’s surprise announcement that it plans to ‘sell or wind down its business of issuing prepaid cards for corporate payrolls and government tax refunds and benefits.’ Which also includes the infamous Electronic Benefits Transfer, or foodstamps, card. According to Reuters, the product, which has been offered with cash and treasury services to companies and governments, ‘had become a headache of risks in operations and regulations, according to a person familiar with the matter who was not authorized to speak publicly.'”

http://www.zerohedge.com/news/2014-01-09/jpmorgan-exit-foodstamp-other-prepaid-cards-business

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Bill Bonner: Time for a Cease-Fire In the War on Poverty

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“Meanwhile, the 50th anniversary of the feds’ ‘War on Poverty’ came and went last week, without much notice.  As in many other of the feds’ wars, we don’t know which side we should be on. We’ve got nothing against poverty. Then, again, we’ve got nothing against wealth either. People should be able to decide for themselves what they want out of life.  But during the Johnson administration the rich got the idea that they should exterminate poverty… or at least gain a political advantage by appearing to try to do so.  So it was that on January 8, 1964, LBJ declared war: ‘This administration today, here and now, declares unconditional war on poverty in America.’  That was 50 years and $20 trillion ago.”

http://www.bonnerandpartners.com/time-for-a-cease-fire-in-the-war-on-poverty/

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Janet Napolitano diverts $5 million to illegal immigrant college aid

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“Less than a week after receiving more information regarding the allocation of UC President Janet Napolitano’s $5 million initiative to aid undocumented students, UC Berkeley administrators are already developing a plan to fund enhanced student services and expand financial aid opportunities for these individuals.  Napolitano outlined the allocation of the initiative in a letter sent to the chancellors Dec. 18, $250,000 of which will go toward funding more student services such as resource centers and advising programs. The remaining $410,000 will be used for financial aid, which is to be split between work-study positions and a loan program for undocumented students.”

http://www.dailycal.org/2013/12/23/campus-discusses-allocation-plans-undocumented-student-aid-initiative/

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The More Wasteful The Program, The More Essential It Is To Washington

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“The Agriculture Department gave an Oklahoma winery $200,000 to purchase new equipment.  An Alaska Brewery collected $450,000 to add a new boiler.  Agriculture also gave $100,000 to a North Carolina vodka producer.  Congress devoted $350,000 to the Paterson Great Falls National Historic Park which the National Park Service said should not be a federal park.  Health and Human Services spent nearly $200,000 on a Hollywood party.  The Post Office paid futurist Faith Popcorn to imagine its future.  The Institute of Museum and Library Services gave a New York museum $150,000 to create an exhibit on play.  A Colorado museum received more than $40,000 for its toy collection.”

http://www.forbes.com/sites/dougbandow/2014/01/06/the-more-wasteful-is-the-federal-government-program-the-more-essential-it-is-to-washington/print/

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Debt hits 200-year high; IMF warns of ‘savings tax’ and mass write-offs

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“Much of the Western world will require defaults, a savings tax and higher inflation to clear the way for recovery as debt levels reach a 200-year high, according to a new report by the International Monetary Fund.  The IMF working paper said debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, either negotiated 1930s-style write-offs or the standard mix of measures used by the IMF in its ‘toolkit’ for emerging market blow-ups.   Financial repression can take many forms, including capital controls, interest rate caps or the force-feeding of government debt to captive pension funds and insurance companies.”

http://www.telegraph.co.uk/finance/financialcrisis/10548104/IMF-paper-warns-of-savings-tax-and-mass-write-offs-as-Wests-debt-hits-200-year-high.html

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Why I’m Leaving

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“My grandparents emigrated from Portugal to Mozambique during the 1940s and 50s in search of a better life. The massive and undeveloped colony seemed like the land of milk and honey for those willing to get their hands dirty. A few decades later my parents-to-be immigrated to South Africa as Mozambique headed towards what would become a 10-year war for independence. Then when I was just 4 years old they decided that a fascist state fully enveloped with the evils of apartheid was no place to raise a child. My mother was fortunate enough to get a work visa into the United States and that’s where we’ve been ever since.  Now the time has come for me to follow in my family’s footsteps.”

http://dollarvigilante.com/blog/2014/1/1/why-i’m-leaving.html

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3 Urgent Steps for the Ultimate Strategy in 2014!

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“There’s no doubt we’re living in crazy times.  Despite a slight reduction in the amount of unbacked money it prints every month, the Fed is still burying the world in unbacked paper dollars.  Despite a ‘budget deal,’ the massive federal debt is nearing the $18 trillion mark and annual deficits are still massive.  Despite the trillions Washington has poured into the economy over six years, growth is still sub-par. Despite Washington’s claims to the contrary, the real unemployment rate, measured the way our government used to, is still 13.2 percent.  Yet this year alone, the S&P 500 has hit nearly four dozen new all-time highs in 2013.  So what’s the wisest wealth-building strategy in times like these?”

http://www.moneyandmarkets.com/3-urgent-steps-for-the-ultimate-strategy-in-2014-57217

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29 Incredible Facts Which Prove Poverty In America Is Exploding

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“The gap between the wealthy and the poor is at a level that America has never seen before, and this is beginning to create a ‘Robin Hood mentality’ that could cause a tremendous amount of social chaos in the years ahead.  Anger at the ‘haves’ in America continues to rise at a very alarming pace, and the ‘have nots’ are becoming increasingly desperate.  At some point all of this anger is going to boil over, and you won’t want to be anywhere around major population centers when that happens.  Despite unprecedented borrowing by the federal government in recent years, and despite unprecedented money printing by the Federal Reserve, poverty in the United States keeps getting worse.”

http://theeconomiccollapseblog.com/archives/29-incredible-facts-which-prove-that-poverty-in-america-is-absolutely-exploding

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It’s Not “If;” It’s “When”

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“A populace that is otherwise unhappy with its government tends to toe the line if the country is at war. Further, the government has a greater ability to silence domestic detractors in time of war.  Thus, the ability to hold power is assured. A state of war is the single most effective tool in silencing dissent in any country.  In considering all of the above, not only as a present-day anomaly, but as a recurrent theme throughout history, any discussion of ‘if’ there will be an economic collapse, ‘if’ there will be an increase in the loss of basic freedoms, ‘if’ there will be a ramping up of warfare, becomes a non-starter. It is a question of ‘when.'”

https://www.internationalman.com/78-global-perspectives/1062-it-s-not-if-it-s-when

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2014: The First Year of the 21st Century Dark Age

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“Big Western socialist governments are dying and our leaders know it. So they are acting like caged animals and fighting back the only way they know how: By attacking their own citizens.  This is how Rome died. This is how the Byzantine empire fell. It’s how the maritime merchant-based Venetian times ended. And many other civilizations throughout history that have often been at the core of the global economy.  They do not die by hyperinflation, as so many seem to think. They do not die by severe deflation either. Instead, they die by leaders turning against their own people to hunt down every penny of wealth they can find to tax and confiscate — all in the name of saving the government.”

http://www.moneyandmarkets.com/2014-the-first-year-of-the-21st-century-dark-age-56957

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