America Doesn’t Have #1 Richest Middle-Class in the World…We’re Ranked 27th!

Big Lie: America Doesn’t Have #1 Richest Middle-Class in the World…We’re Ranked 27th!

America is the richest country on Earth. We have the most millionaires, the most billionaires—and a increasingly poor “middle class.”

AlterNet / By Les Leopold

America is the richest country on Earth. We have the most millionaires, the most billionaires and our wealthiest citizens have garnered more of the planet’s riches than any other group in the world. We even have hedge fund managers who make in one hour as much as the average family makes in 21 years!

This opulence is supposed to trickle down to the rest of us, improving the lives of everyday Americans. At least that’s what free-market cheerleaders repeatedly promise us.

Unfortunately, it’s a lie, one of the biggest ever perpetrated on the American people.

Our middle class is falling further and further behind in comparison to the rest of the world. We keep hearing that America is number one. Well, when it comes to middle-class wealth, we’re number 27.

The most telling comparative measurement is median wealth (per adult). It describes the amount of wealth accumulated by the person precisely in the middle of the wealth distribution—50 percent of the adult population has more wealth, while 50 percent has less. You can’t get more middle than that.

Wealth is measured by the total sum of all our assets (homes, bank accounts, stocks, bonds etc.) minus our liabilities (outstanding loans and other debts). It the best indicator we have for individual and family prosperity. While the never-ending accumulation of wealth may be wrecking the planet, wealth also provides basic security, especially in a country like ours with such skimpy social programs. Wealth allows us to survive periods of economic turmoil. Wealth allows our children to go to college without incurring crippling debts, or to get help for the down payment on their first homes. As Billie Holiday sings, “God bless the child that’s got his own.”

Well, it’s a sad song. As the chart below shows, there are 26 other countries with a median wealth higher than ours (and the relative reduction of U.S. median wealth has done nothing to make our economy more sustainable).

Read more » AlterNet
http://www.alternet.org/economy/americas-middle-class-27th-richest

The story of Benazir Bhutto: A Tale of Tears

Courtesy: Front Line with Kamaran Shahid

Via » ZemTv » YouTube

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If you watch the video of Imran Khan’s Karachi Jalsa, you will see Imran Khan coming to the venue by an Army helicopter and then escorted and surrounded by armed Army commandos. The Army and ISI provided full security to him, before and during the jalsa. A million dollar question is , where was the Army and ISI when twice prime minister of Pakistan, Chairperson of PPP, Benazir was speaking at Liaquat Park, Rawalpindi, a stone’s throw distance from GHQ? Why was absolutely no security was provided to her, even as is now disclosed by ISI that there was a specific plan to murder her? Was it because the generals perceived BB as a threat to expose them before the public?

Is their support of Imran Khan because Army generals think that he will get them out of the deep hole they have dug for themselves and get Talibans/ Jihadis and Americans off their backs, sustain their narrow destructive policies and that they can go back to their messes and golf courses and DHAs? [Above text is taken from Pakistani e-lists, e-groups, credit goes to TK for above piece]