Forum Post: JP Morgan Makes 5 BILLION off of Food stamps in 2011.
Posted 12 years ago on July 6, 2012, 7:41 a.m. EST by hchc
(3297)
from Tampa, FL
This content is user submitted and not an official statement
http://www.rooseveltinstitute.org/new-roosevelt/food-stamps-jpmorgan-banking-industry-profit-misery
Ok, first off, for everyone that is going to see this and then scream that I am some right wing nut....let me be clear....some people are in need of food stamps. But there are hordes that are taking them, becoming passive, and only helping to further this takeover by the banks.
The fact that JP Morgan is running this thing, and they run congress and DC, should show you that they do indeed want the American people to become disillusioned and dependent on them.
That is what they want. They want brainless consumers who dont think and get told what to do. It makes them more money. Intelligent, engaged people are a threat to them.
The fact that more and more places are allowing you to purchase alchohol with food stamps is even more proof.
Its a take over. Yes, feeding the hungry sounds nice. But at the end of the this "charity" is....suprise!! The banking cartel. They arent here to help. They are here to enslave.
They are doing nothing to change the situations that cause poverty. They are only profiting off of it. Its a sick, sick situation at the top, and people need to wake up and stop relying on these freaks.
This is a very important forum-post on a very important matter, however extreme care needs to taken NOT to blame those at the receiving end of Bankster Induced Economic Collapse and the subsequent "Structural Adjustment" and Extreme Austerity.
Most food stamp "consumers" are not "brainless" ; they are desperate to feed themselves, their children and their families. Blaming victims for their own victimisation and exploitation, is a psychological trait of 'Randian Psychopathy' and care needs to be taken not to imbibe this corrosive poison, which tends to blind the afflicted to the real cause of this particular phenomenon - abject and predatory avarice, namely here by JPMorganChase and The Usurpation and Subversion of US Democracy and the capture of most of the organs of The US Governmemt by The Infernal Bankster Parasite Class - who are very much Randian exemplars and see themselves as such.
Further to the above, I append the following for consideration :
"The Poor: Still Here, Still Poor", by Katha Pollitt : http://www.informationclearinghouse.info/article29085.htm ,
"The Financial Terrorists Who Destroyed Our Economy Will Pay Zero in Taxes and Get $33 Billion in Refunds", by David DeGraw : http://www.informationclearinghouse.info/article25253.htm ,
"Profits In Poverty ; JPMorgan Is Making Big Money From Food Stamps !", by 'Economic Collapse' : http://theeconomiccollapseblog.com/archives/the-more-americans-that-go-on-food-stamps-the-more-money-jp-morgan-makes ,
"Banks Extract Fees On Unemployment Benefits", by Janell Ross : http://www.informationclearinghouse.info/article29580.htm ,
"Elitism and Empathy in American Presidents ; Who Cares for the Suffering Children", by William Cox : http://www.informationclearinghouse.info/article25364.htm &
"The American People Are Angry" - Senator Bernard Sanders Floor Statement - June 27, 2012 : http://www.informationclearinghouse.info/article31721.htm .
'radix omnium malorum est cupiditas' et 'fiat justitia ruat caelum' ...
I agree that to blame those that are starving as heartless, however I ask you how many people you know are receiving them?
I have. It helped get through some tough times.
Just went shopping with a young lady with her WIC. It specifies exactly what you can get. Mostly milk and beans. And it had to be the cheapest brand.
You know what is funny? A lot of times buying generic is no different then buying name brand except that the price is lower. Many people will not consider buying generic because they have had the name brand pounded into their head. Some people will leave a store and go to another store to finish their shopping because the 1st store did not have their name brand item. That is some consumer programming - Hey?
I have hauled a lot of appliances but I have never seen a Kenmore factory. ;p
Sears is an odd duck - as a lot of their rebranded products you can get cheaper elsewhere under the original name.
Sears/Kenmore? I believe they have a contract with manufacturers to put the Kenmore name on their products. Example Whirlpool/Kenmore GE/Kenmore. Brand renaming. Kind of like AMC used to build cars with many different source components like engines and transmissions from GM or Mopar or whoever they could get the best/cheapest deal from.
Yep, the Sears salesman can usually tell you who the manufacturer is.
I think WIC has it right. The federal food stamp program is a disaster, people shouldnt be feeding their kids crap.
Sometimes it seems like people are saying, "I want the liberty to be stupid and make you pay for my stupidity!"
"...more than 40% of food stamp recipients have a job, as Paton notes. Even if you get a job, you still have an almost one in two chance of still not being able to buy groceries, so JPMorgan can continue to make its profits as unemployment falls"
From your own article. Looks are deceiving. Just because someone is working doesn't mean that they can make ends meet.
Quite a few. Why ? What difference does that make ? I really think that you should urgently research the 'U6' figure {~15%} re. 'US Employment Stats'. Also, please try to consider the following :
ad iudicium ...
I used to program cash registers. Every item is flagged for food stamps or not.
Your accusations are not clear. And you don't offer solutions. Why has this happened? When did it start.?
Are you makin this up like the Alcohol is allowed nonsense.?
"The fact that more and more places are allowing you to purchase alchohol with food stamps is even more proof."
Nope.
Illegal. Everywhere. Controlled by the UPC barcode system.
OTC country stores can fake it. All 0.0001% of outlets.
I understand what the rules are, but its not hard for merchants to get around this. And no one has any intention of stopping them.
They already allow candy and other crap, which are not good fuels for thinking and making things happen. Im not expecting legislation to come down in favore of alchohol anytime soon, just less and less regualation of it like the drug trade.
No way. The penalties overwhelm the small monetary advantage and sting operations are run steadily.
That's a fantasy.
I guess as long as everyone can sell them for cash, it doesnt really matter.
It is breading complacency but it is being driven by wage suppression. The one issue I push almost every single day is wages. Capitalism requires the purchase of goods and /or services in order to function. The higher the volume of goods and services, the healthier the economy. Economist and politicians do not lack a remedy for our economic ills. They lack a way to do it without having to tell the aristocracy that they can no longer live of the work of others. The unspoken belief among the left and the right is that America can only ensure survival if American power is unquestionable and they feel the only way to do that is concentrate wealth that can then be tapped for economic and military power and that a nation of distributed wealth would not produce the centralized power that would then be unquestionable. The problem with this outlook is that it is by definition fascism, and flies in the face of democracy.
Want to stop paying for food stamps for people that have a 40 hour a week job and the unemployed? Ask your congressman why they aren't interested in fixing the wage system so that the workers actually profit from their labor and why the guy that is profiting from all this low cost labor isn't paying enough taxes to cover the burden of these social programs. You probably won't get an answer because you aren't in the club.
JP Morgan's vig preys on the Food Stamp program, which becomes, like everything else when [semi] privatized, a corrupt scam. But the real reason Food Stamps won't go away is because the profit of food retailers, wholesalers, commodity speculators, chemical companies and others would suffer if the poor are allowed to starve. Safeway and Kroger's wouldn't like that.
For more on dysfunctional economy and culture see: How Does That Work? https://www.createspace.com/3852916
And they spend the food stamp at the 1% like walmart.,win win for the 1%
Yup, spend it all on heavily chemicalized food that hurts brain activity, and makes people slugish.
Win win indeed.
http://www.youtube.com/watch?v=piVnArp9ZE0
Its a trap!!
In the words of the great Admiral Ackbar....."It's a Trap!" http://www.youtube.com/watch?v=dddAi8FF3F4
You should change the title of the post to "Obama gets reelected by voters on foodstamps in 2012."
Foodstamp president.
Disgusting.
How much would it cost if the Gov administered this program?
Well here is one estimate: We would save over $100 billion if we handed over the administration of SS and Medicare to American Express; and the service would improve.
The good news? If AMEX does a lousy job, fire them and find a better vendor.
Private health insurance companies tried to compete with Medicare. They could not do it. Medicare is 97% efficient. We are saving $500,000,000 by cutting them out of Medicare. So I am calling bullshit.
AMEX is not an insurance company. All they would do is administer the programs (SS and Medicare). They would still be Gov programs. That one change would save $100 billion per year.
Put it out for competitive bid every 5 years. Drive down the cost and improve the service.
Why not?
With an extra $ 100 billion per year no child on the planet would ever go to sleep hungry.
I do not believe what you are saying is true. I am not willing to take your word for it.
http://www.manhattan-institute.org/html/mpr_05.htm
http://www.forbes.com/sites/aroy/2011/06/30/the-myth-of-medicares-low-administrative-costs/
Did you read those?
Ya, lets put the people in charge of the world's finances in charge of the food supply too.
Great idea dude. Anymore great central planning ideas?
In almost every case you can find the private sector does a better job than the Fed Gov. Decentralizing is the answer.
If you hire a corp to collect your trash and they do a lousy job you fire them and put the work out for competitive bid. If the Gov does a lousy job you're stuck with poor, expensive service and garbage in the streets. The Gov has no motivation to pursue excellence. Mediocrity is usually the upside.