Extractor Economics


Jeffrey Lord linked to the Hannity Special on how the well connected in DC are getting richer while the rest of the country gets poorer, and expanded on what Lord calls the “extractor economy.”

What drives Washington’s soaring affluence — an affluence denied to the rest of America? What is taking your money and redistributing it to a relative handful of people inside the Washington Beltway?

Let’s take the Hannity story and move the ball a bit further.

How does this game work? How does the money taken directly from your pocket — your paycheck, your savings, your investments, your company — fatten individual wallets in one of the biggest liberal redistributionist scams of the day?

Let’s run through some current news stories involving Washington and see what’s happening.

We will start with:

• The National Labor Relations Board

You remember this story from a few days back. A federal appeals court ruled that President Obama violated the Constitution by making recess appointments of three members of the NLRB — when the U.S. Senate wasn’t in recess. The lawsuit was filed by a group of people — among them Mark Levin’s Landmark Legal Foundation — who are determined to see that Obama is called on his repeated and increasing attacks on the Constitution.

But for the moment, put the issue of the Constitution aside.

Follow the money.

The NLRB — just one small but powerful tentacle of the federal government — has 1,800 employees.

The board members? There are five of them, including the three Obama appointees at the center of the latest controversy. They are paid a minimum $155,500, according to the pay tables put out by the Office of Management and Budget.

Got that?

For those of you out there who are unemployed or working two jobs to replace the one you lost? Just one member of one Extractor Class bureaucracy in Washington, D.C. is extracting $155,500 a year from American pockets. He/she is just one of five board members.

You should really read the whole thing. It’s kind of long but well worth the time.

Also worth reading is Stock Market: Food Stamps for the 1% at Liberty Blitzkrieg. Here’s a sample:

For most of the past four or five years, I have spent the majority of my time studying the dominant forces that fuel the power structure that exists in these United States today, and indeed throughout the world.  My education began quite suddenly and unexpectedly in the middle of the last decade when I started understanding fiat money, Central Banking and the global monetary system.  Since then, I have expanded my understanding to mainstream media brainwashing, the military-industrial complex, the role of the political oligarchs in Washington D.C., the corruption of the food industry under the complicity of the FDA itself and much more.  The more I peered under the curtain, no matter what the industry, the clearer it became that the system had no chance of survival under its current form.  What’s worse, it became obvious that the very small 0.01% of the population that I call oligarchs (financial and political), who are actively gaming the system for their own pleasure, are well aware of the system’s terminal nature.  That’s why they are rapidly putting in place the police state grid. (Read More)

Basically, what the author is saying is that the oligarchs, or the top .01%, with the help of Ben Bernanke, are keeping the stock market afloat with QE Forever long enough for Obama to fully implement his fundamental transformation of America. By doing so, the 1% are happy, while the lower classes are mollified by food stamps and welfare because they have food on their tables and roofs over their heads. The middle class is being decimated, but the ones who still have jobs keep plugging along, and the others join the ranks of the poor. So everything is going according to plan. But it’s not going to go on like this forever. It simply can’t. But I’ll bet the oligarchs and the extractors will be okay no matter what happens. The rest of us, well, we’ll just have to wait and see.

(Via The Other McCain and Zero Hedge)