When The Derivatives Market Crashes (And It Will) U.S. Taxpayers Will Be On The Hook

When The Derivatives Market Crashes (And It Will) U.S. Taxpayers Will Be On The Hook: "Warren Buffett once said that derivatives are "financial weapons of mass destruction", and that statement is more true today than it ever has been before.  Recently, JP Morgan made national headlines when it announced that it was going to take a 2 billion dollar loss from derivatives trades gone bad.  Well, it turns out that JP Morgan"

'via Blog this'

Charles Ferguson: How Financial Criminalization Crashed the Economy, and the Culprits Got Off Scot-Free

Charles Ferguson: How Financial Criminalization Crashed the Economy, and the Culprits Got Off Scot-Free:

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It is no exaggeration to say that since the 1980s, much of the American (and global) financial sector has become criminalized, creating an industry culture that tolerates or even encourages systematic fraud. The behavior that caused the mortgage bubble and financial crisis was a natural outcome and continuation of this pattern, rather than some kind of economic accident....more.

fantastic 12 yr old Victoria Grant explains how banks commit fraud.mp4

All Occupations by Education Requirement: Average Income and 10-year job change

All Occupations by Education Requirement: Average Income and 10-year job change

Now you can imagine why job grow and new employment figures do not tell the real truth!  The job growth categories for the last ten years are in low wage social services jobs and NOT high wage, high tech positions.

How can we expect all the grant money for STEM and high tech manufacturing innovation to reverse the loss of high paying manufacturing jobs?  The later jobs only amount to something like 10% of work force. That is down from more than 40% decades ago. Comments please.