A Majority Of Americans Believe The US Government No Longer Operates Within The Constitution

Tyler Durden
Zero Hedge

A rather indicative poll released by Rasmussen earlier this week finds that a majority of Americans (44%) now believe that the government operates outside the confines of the Constitution, compared to just 39% who believe government does not take liberties with the precepts laid out by the founding fathers (and 17% were busy watching dancing with the stars to have an opinion either way). Some other unflattering findings on US democracy: "Earlier surveys have shown that just one-in-five voters believe that the government today has the consent of the governed. Forty-eight percent (48%) see the government as a threat to individual rights. According to the Declaration of Independence, governments are formed to protect certain inalienable rights." Not surprisingly, politicians are shown to not only be usurping and incompetent despots but biased as well: "As is often the case, there’s a wide gap between the perceptions of the Political Class and those of Mainstream voters when it comes to the federal government. Eighty-three percent (83%) of Political Class voters say the government now operates within constitutional limits, but 62% of those in the Mainstream don’t share that view." Most worryingly, "nearly two-out-of-three voters (65%) are at least somewhat angry at the current policies of the federal government, including 40% who are Very Angry." That's 65% with not even a whiff of austerity on the horizon...

While we uge readers to read the full survey for all queries, the following financial-related disclosure is important as it shows that the path the government is on will continue to make the vast majority of the American population increasingly angrier.

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Join in on the World's Biggest Bank Run This December

The simple act of removing all of our money from the banks, and doing so in mass on the same day - December 7th - would put a huge scare in the financial barons.

Robert E. Prasch
Alternet

"A spectre is haunting Europe." Its not the revolution that Karl Marx supposed would come about. Nor is it Parisian students and workers taking to the streets as in May 1968. It is the vision of hordes of Europeans striking back at those who caused the 2008 financial crash. This time, organizers are calling for the use of a new weapon, one available to any of us with a bank account. It is the simple act of removing all of our money from the banks, and doing so in mass on the same day - December 7th.



While it is hard to know who first thought of this marvelous act of political theater, it has begun to take serious traction in France and is now spreading across Europe. It has especially taken off since a ringing endorsement of the idea began making the rounds on YouTube and Facebook by the always amusing, and surprisingly thoughtful, ex-soccer star Eric Cantona. Cantona, already famous for his performances with Leeds United, Manchester United, and the French National Team, has remained in the public eye while developing new interests in photography, film, and live theater (Happily for the discerning taste of the French public, he is an excellent photographer, and in the latter endeavors he has the advantage of being mentored by a well-established and highly-talented young actress - his wife, Rachida Brakni).

Of late, the famously mercurial temper that Cantona exhibited on and off the soccer pitch has been redirected from rivals and unruly fans. A prominent target is French President Nicolas Sarkozy's proposal to create a ministry, museum, and mass public debate on "national identity, all of which Cantona publically ridiculed as "idiotic." His sights are now trained on the banking and financial system that he - correctly - holds responsible for France's current economic problems. This is important because Sarkozy and the EU leadership is using this crisis to erode welfare state protections even as ostensibly scarce public monies are deployed to shore up the banks most responsible for the problem.

Which brings us to the economics of a mass withdrawal of deposits from the banks. Will it bring about an actual bank run or financial crash? Certainly not. For one thing, an organized and deliberate action such as Cantona proposes lacks the element of panic so characteristic of bank runs. Additionally, the banks and the central banks overseeing them will have time to prepare for the event, and should be able to reallocate their holdings of cash, reserves, and other assets in advance. If necessary, banks can always borrow short-term funds on the inter-bank market or even directly from the central bank. A mass withdrawal should, however, shrink the profitability of banks, as retail deposits are normally considered cheap and stable sources of funds with which to finance loans. Large European banks, relative to their American peers, are more dependent on retail deposits, so they will especially miss these funds when the time comes to calculate profits and bonuses.

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