Weekend Economists:Auld Acquaintance Should Be Forgot December 28-30, 2012

[Demeter]

20. The Ten Most Outrageous Economic Calamities of 2012 By Les Leopold

http://www.alternet.org/economy/ten-most-outrageous-economic-calamities-2012?akid=9873.227380.UlcZ0b&rd=1&src=newsletter768230&t=2&paging=off

It was another year of Wall Street treachery. Those who took down our economy still have not been held accountable. Instead, Wall Street successfully lured the political establishment into a phony fiscal cliff/austerity debate. So instead of creating programs to put millions of Americans back to work, Washington is debating how much more to take away from the poor and the middleclass. Let's take a closer look at the most disastrous economic events from 2012.

Here's our countdown:

#10: The Romney Tax Returns:

#9. Middle-Class Wealth declines by 35 percent:

#8. The Fortune 400 increase their wealth by $200 Billion:

#7. Bankers Rob Bank, but None Arrested (LIBOR):

#6. Banks engage is massive Money Laundering for Drug Cartels and Rogue Nations: No one is punished.

#5. In 2012, too-big-to-fail means too-big-to-be-punished.

#4. For the first time Wisconsin spends more on corrections than higher education:

#3. As of November, 2012, 4,707,000 Americans have been unemployed for more than 26 weeks, and 21 % of all U.S. children live in poverty:

#2. The Phony Fiscal Cliff Occupies America

#1: Occupy Wall Street Disappears

DETAILS AT LINK