WALL STREET’S RAPE AND PILLAGE OF A NATION… and it
ain’t over!
*
More than 5 million households had their wealth wiped out since 2005
By
Andre Damon
28 July 2011
28 July 2011
The typical US household lost 28
percent of its wealth during the economic crisis, with one third of these being
totally wiped out, according to a recent analysis of Census Bureau data carried
out by the Pew Research Center, “Wealth Gaps Rise to Record Highs Between
Whites, Blacks and Hispanics”.
While the study headlines racial
disparities, the most striking findings concern the general impoverishment of
all sections of the population. The percent of US households who have a net
worth of zero dollars or below—meaning they have more debts than assets—grew
from 15 percent in 2005, to 20 percent in 2009. This means that 5.6 million
households, or about 15 million people, had their wealth totally wiped out
during the first part of the economic downturn. These figures come from an
analysis of Census Bureau survey data for 2005 and 2009.
The study found that, after
adjusting for inflation, the median wealth of US households fell from $96,894
in 2005 to $70,000 in 2009, a drop of 28 percent. The majority of this is
attributable to the precipitous fall in real estate values, by about 30 percent
between 2006 and 2009 and even more since.
The fall in home values has been
compounded by falling wages. Between 2005 and 2009, workers’ average hourly
earnings fell, on an inflation-adjusted basis, by 5 percent, according to the
Labor Department.
Indebtedness has grown as rapidly as
wealth has fallen. Between 2005 and 2009, unsecured liabilities grew 33 percent
for the population as a whole, the study found.
Meanwhile, the share of household
wealth held by the wealthiest ten percent of households grew from 49 percent in
2005 to 56 percent in 2009.
Racial minorities have been
particularly hard hit, including by the fall in housing values. The net worth
of Hispanic households fell by a staggering 66 percent, from $12,124 in 2005 to
$5,677 in 2009. The net worth of black households has likewise tumbled 53
percent. Among Hispanics, unsecured debt grew by 47 percent.
The level of inequality between
whites, blacks, and Hispanics is now at the highest level in 25 years, and no
doubt longer. The racial differentiation is partly attributable to geography.
While whites saw the values of their own homes fall by 18 percent and blacks by
23 percent, the home values of Hispanics fell by more than half.
As the report notes, “In 2005, more
than two-in-five of the nation’s Hispanic and Asian households resided in
Arizona, California, Florida, Michigan and Nevada, the five states with the
steepest declines in home prices.” For Hispanics living in these states, the
report noted, “median net worth tumbled from $51,464 in 2005 to $6,375 in 2009,
a loss of 88 percent.”
These racial divergences, however,
mask the more fundamental growth of inequality between the working class and
the wealthy of all races. The report notes that the wealthiest 10 percent of
blacks now controls 67 percent of the wealth for that group, compared to 59
percent before the downturn. For Hispanics, likewise, the wealthiest 10 percent
controlled 72 percent of wealth in 2009, up from 59 percent in 2005.
The number of unemployed, meanwhile,
grew from 7.9 million to 15.2 million between 2005 and 2009. Rising
unemployment, too, has disproportionately affected minorities. Unemployment has
affected blacks and hispanics disproportionately, with the unemployment rate
for blacks currently at 16.5 percent and 11.6 percent for hispanics.
The staggering fall in wealth has
had an transformative effect on American society, contributing to the millions
of foreclosures and personal bankruptcies. According to figures from
Realtytrac.com, there were 10 million foreclosures between 2005 and 2009, the
years covered by the survey.
*
UNDER OBAMA, THE RICH GET RICHER, AND JOBS GO TO HIS
LA RAZA PARTY BASE!
WALL ST PROFIT SOAR! SO DOES FORECLOSURES,
UNEMPLOYMENT, POVERTY FOR AMERICANS… AND ILLEGALS OVER OUR BORDERS!
ONE WAY OBAMA SERVICES HIS CORPORATE PAYMASTERS IS
TO ASSURE THEM THAT HE WILL SABOTAGE E-VERIFY, HOLD OUR BORDERS OPEN FOR HORDES
OF ILLEGALS HEADED FOR OUR JOBS, AND CONTINUE NON-ENFORCEMENT OF LAW
PROHIBITING THE EMPLOYMENT OF ILLEGALS. IN FACT, OBAMA’S SEC. of LABOR IS A LA
RAZA SUPREMACIST HILDA SOLIS WORKING FOR ILLEGALS, MEXICANS THAT IS.
THERE IS A REASON WHY OBAMA, THE LA RAZA DEMS,
MEXICO AND THE U. S. CHAMBER of COMMERCE WANT OPEN BORDERS…it’s all about
keeping wages DEPRESSED!
*
As dozens of major corporations announced increased
second-quarter profits this week, the US working class was hit with a
disastrous new round of mass layoffs.
Profits
soar amid mass layoffs
By
Andre Damon
23 July 2011
23 July 2011
As dozens of major corporations announced increased
second-quarter profits this week, the US working class was hit with a
disastrous new round of mass layoffs.
On Monday, book seller Borders
announced that it would liquidate all of its stores, laying off 10,700 workers.
That same day, Cisco, the telecom equipment maker, said it would cut its
workforce by 11,500. Within 24 hours, Lockheed Martin, the aerospace company,
announced that it would eliminate 6,500 jobs.
At the same time, Caterpillar, the
maker of construction equipment, said its profits were up 44 percent in the
second quarter compared to last year. Office equipment maker Xerox saw its
profits grow 41 percent in the same time.
General Electric’s profits were up
17 percent, PepsiCo’s were up by 18 percent, and McDonald’s, the fast food
company, saw a 19 percent increase, reaching a new record.
The energy and mining companies did
even better, benefiting from rising gas prices, which reduced the real incomes
of American workers by billions of dollars. Halliburton, the oil contractor, said
its profits were up by 53 percent in the second quarter compared to a year
earlier, while fellow oil contractor Schlumberger said its profits were up by
64 percent.
Most of the major banks likewise
said their profits were up significantly in the second quarter. Goldman Sachs
announced $1.09 billion in profits, up 57 percent from last year. But even this
huge increase was considered a “disappointment” for traders.
JPMorgan said its second-quarter
profit was up by 13 percent, despite setting aside a $1.3 billion charge-off
for lawsuits it expects in relation to its trafficking of fraudulent mortgages.
Citigroup reported a profit of $3.34 billion, up 24 percent from a year ago.
This renewed growth in profits comes
at the same time as the sharpest growth in unemployment since 2009. Between
March and June, the unemployment rate grew by 0.4 percentage points, to 9.2
percent. In the same period, the number of unemployed people grew by 545,000.
Apple, the world’s largest music
retailer and a leading manufacturer of mobile electronics, announced a 95
percent increase in profitability. In its earnings statement, the company said
that it was sitting on a cash hoard of $76 billion. This staggering sum,
amassed by a single company controlled by a few large shareholders, could put
two million people to work full-time for a year.
US corporations have combined cash
reserves of $2 trillion. That is enough money to put all the unemployed people
in the United States to work for four years, even without any profit generated
from their labor.
But fresh off of what is for many a
record-breaking second quarter, the companies are refusing to use their newly
accumulated cash to hire. In fact, planned mass layoffs have only accelerated.
Even after the disastrous second
quarter, the jobs situation is getting worse. Challenger, Gray & Christmas,
Inc, the executive placement company, said earlier this week that the number of
planned job cuts grew by 11.6 percent, reaching 41,432 last month. This was the
second consecutive monthly increase in planned mass layoffs.
New claims for unemployment benefits
have likewise moved upwards. After dipping in April to 385,000, the lowest
level since 2007, they have steadily grown, reaching 418,000 last week.
The disastrous employment conditions
in the private sector are only exacerbated by the aggressive budget cutting
carried out by state and local governments, under the whip of cuts to federal
assistance.
State and local governments have cut
165,000 jobs so far this year, on top of the quarter million workers they laid
off in 2010. But this is only the beginning: analysts expect hundreds of
thousands more layoffs this year as cuts in federal aid intensify.
These planned layoffs will only be
compounded by the massive federal spending cuts currently being discussed
between the Congress and the White House, which would eliminate between $3 and
$4 trillion from federal spending. This would mean hundreds of thousands of
federal job cuts.
The fact that American corporations
were able to accumulate record profits while hundreds of thousands were thrown
into the ranks of unemployment is not a coincidence. These profits were
generated through the impoverishment of workers, who, desperate for any work
available, have increasingly accepted lower wages and worse conditions.
Despite the abysmal employment
conditions, mass joblessness has disappeared as a political issue in the United
States, with the entire political establishment pushing for cuts to government
spending. This absurd and irrational setup is a product of the monopolization
of political life in the United States by the super-rich, who are carrying out
a full-scale assault on the social conditions of the working class.
In contrast to the ruling class’s
anti-social and destructive policy, the working class must present its own
political program. The trillions of dollars sitting on the balance sheets of
the corporations must be expropriated and used to provide jobs and
desperately-needed social services.
This program requires a new mass
political movement, completely independent of the Democrats and Republicans, to
break the political stranglehold of the corporations, and reorganize society on
the basis of social need, not private profit.
*
OBAMA’S AMERICA: Open
& Undefended Borders!
*
*
OBAMA HAS FILLED HIS ADMINSTRATION WITH PRIMARILY LA RAZA
PARTY MEMBERS.
Here’s his Sec. Labor, HILDA SOLIS:
While in Congress, she opposed strengthening the border
fence, supported expansion of illegal alien benefits (including driver's
licenses and in-state tuition discounts), embraced sanctuary cities that
refused to cooperate with federal homeland security officials to enforce
immigration laws, and aggressively championed a mass amnesty. Solis was steeped
in the pro-illegal alien worker organizing movement in Southern California and
was buoyed by amnesty-supporting Big Labor groups led by the Service Employees
International Union. She has now caused a Capitol Hill firestorm over her new
taxpayer-funded advertising and outreach campaign to illegal aliens regarding
fair wages:
Michelle Malkin
The U.S. Department of
Illegal Alien Labor
President Obama's Labor Secretary Hilda Solis is supposed to represent American workers. What you need to know is that this longtime open-borders sympathizer has always had a rather radical definition of "American." At a Latino voter registration project conference in Los Angeles many years ago, Solis asserted to thunderous applause, "We are all Americans, whether you are legalized or not."
That's right. The woman in charge of enforcing our employment laws doesn't give a hoot about our immigration laws -- or about the fundamental distinction between those who followed the rules in pursuit of the American dream and those who didn't.
*
Obama Administration Challenges Arizona E-Verify Law
Obama Administration Challenges Arizona E-Verify Law
The Obama administration has asked the Supreme Court to strike down a 2007 Arizona law that punishes employers who hire illegal aliens, a law enacted by then-Governor Janet Napolitano. (Solicitor General's Amicus Curiae Brief). Called the “Legal Arizona Workers Act,” the law requires all employers in Arizona to use E-Verify and provides that the business licenses of those who hire illegal workers shall be repealed. From the date of enactment, the Chamber of Commerce and other special interest groups have been trying to undo it, attacking it through a failed ballot initiative and also through a lawsuit. Now the Chamber is asking the United States Supreme Court to hear the case (Chamber of Commerce v. Candelaria), and the Obama Administration is weighing in against the law.
*
“I’m not here to punish bankers!” BARACK OBAMA ON THE FLOOR
OF THE SENATE, IN THE FACES OF THE
AMERICAN PEOPLEhttp://mexicanoccupation.blogspot.com/2011/07/obamas-pledge-to-wall-st-rich-will-get.html
*
OBAMA’S CRONY CAPITALISM – WHO PAYS FOR HIS BANKSTERS’ BAILOUTS AND MASSIVE GOV SUBSIDIZED BONUSES… GOT TO CUT FROM THE PEOPLE, BUT FIRST, OBAMA WILL CONTINUE TO PUSH FOR AMNESTY AFTER AMNESTY, OPEN & UNDEFENDED BORDERS, AND CONTINUED NON-ENFORCEMENT OF LAWS THAT WILL ENABLE EMPLOYERS TO HIRE ONLY ILLEGALS ON THE CHEAP!
THAT IS WHY OBAMA IS DETERMINED TO FLOOD OUR COUNTRY WITH
MORE ILLEGALS!
THERE IS A REASON WHY THE U. S. CHAMBER of COMMERCE, FRONT
FOR BIG BUSINESS, AND MOST OF THE FORTUNE 500, GENEROUS DONORS TO THE MEX
FASCIST PARTY of LA RAZA, WANT OBAMA’S OPEN BORDERS AND NON-ENFORCEMENT…
depressed wages!!!!
*
Wsws.org
Underlying the rise of the financial aristocracy—which
exercises control over the entire political system—is the failure of the world
capitalist system as a whole. In amassing its wealth, this tiny layer of the
population, concentrated above all in the United States, has overseen a vast
destruction of industry and social infrastructure. The ruling classes of every
country now openly proclaim that the maintenance of their system depends upon
an unprecedented destruction in the living conditions of the broad masses of
the population.
Obama’s
budget and the rot of American capitalism
15
February 2011
On Monday, the Obama administration
released its proposed federal budget for fiscal year 2012. After committing
trillions in federal bailouts to the banks and billionaires, the White House is
demanding cuts that will devastate the working class, and particularly its
poorest and most vulnerable sections.
The $1.1 trillion in cuts for the
next decade proposed by the White House is to be only the starting point for
further cuts, as spokesmen for both big business parties acknowledge. Senate
Budget Chairman Kent Conrad, a Democrat, declared, “We’ve got to do
substantially more than $1 trillion worth of deficit reduction in the next
decade.” Republican House Speaker John Boehner said, “There’s no limit to the
amount we’re willing to cut.”
Democrats and Republicans agree on
gargantuan military spending, an uninterrupted flow of funds to the financial
aristocracy, and continued tax breaks for corporate America and the wealthy. As
a top White House official told the press at a background briefing on the
budget, “The debate in Washington is not whether to cut or to spend. We both
agree we should cut. The question is how we cut and what we cut.”
The Obama budget projects that the
ten-year cumulative deficit will reach a staggering $10.4 trillion. By
attempting to wring such vast sums from the hides of the population, the ruling
elite is trying to set American society back to conditions not seen for
generations.
Programs to be cut include not only
those targeted by Obama and the Republicans in the current budget debate—home
heating assistance, Pell Grants, WIC, Head Start, etc.—but the much larger
entitlement programs, Social Security and Medicare, which will face cuts later
in the budget process.
The social impact will be
incalculable. As hundreds of thousands of people face the bitter cold of winter
without heat and gas, Obama is proposing halving the grossly inadequate federal
assistance that is available. As students graduate with record debt and no job
prospects, the administration is proposing significant cuts in government aid.
Such gross indifference to social distress is repeated in every sphere.
Significant cuts to Social Security
and Medicare—which amount to denying America’s elderly their right to pensions
and health care—would have an even broader impact.
Behind the “debate” in Washington
and the media over the budget is a massive lie—the claim that the budget
deficits are a product of excessive social spending. Obama’s budget director
Jacob Lew summed up this grotesque falsification an op-ed column published in
the New York Times February 6, under the headline, “The Easy Cuts Are
Behind Us.” Lew claimed that the causes of the projected budget deficits were
“decisions to make two large tax cuts without offsetting them and to create a
Medicare prescription drug benefit without paying for it, combined with the
effects of the recession…”
This list is notable for what it
leaves out: the cost of two wars, in Afghanistan and Iraq, which runs into the
trillions; and the bank bailouts, where more trillions in public funds were
placed at the disposal of the financial aristocracy, with no questions asked.
The military budget by itself accounts for the lion’s share of the ten-year
deficit: more than $7 trillion of the projected $10 trillion.
Lew’s more fundamental omission,
however, is the grotesque class inequality that pervades American society. The
top one percent of the US population owns over one third of the country’s
wealth. The greatest wealth, however, is concentrated in an even smaller layer.
Indeed, the $1.1 trillion in proposed cuts—which will have a terrible impact on
the lives of millions of people—is somewhat less than the combined wealth of
only the 400 richest Americans.
The arguments presented by the
ruling elite for the cuts are staggeringly hypocritical. As they drown in floods
of cash, they insist that no money is available for workers’ most basic needs.
Workers must reject this argument
out of hand. They are not responsible for the orgy of swindling and
profiteering that produced the 2008 Wall Street crash and pushed the world
economy into the deepest slump since the Great Depression. On the contrary, an
essential feature of the speculative binge was that the share of national
income received by workers has shrunk to the lowest level in nearly a century.
Underlying the rise of the financial aristocracy—which
exercises control over the entire political system—is the failure of the world
capitalist system as a whole. In amassing its wealth, this tiny layer of the
population, concentrated above all in the United States, has overseen a vast
destruction of industry and social infrastructure. The ruling classes of every
country now openly proclaim that the maintenance of their system depends upon
an unprecedented destruction in the living conditions of the broad masses of
the population.
These measures will provoke mass
opposition. The revolutionary struggles in Egypt—in which protests and strikes
of millions of workers and youth forced the resignation of a US-backed dictator
that ruled the country for more than 30 years—point to the forms of struggle
that will spread worldwide in the coming period. Mass unemployment, record
inequality, and the corruption of the political system are common to Egypt and
the United States, and are in fact universal. At the foundation of this system
is the principle that economic life must be subordinated to private profit and
the maintenance of the wealth of those who control the giant banks and
corporations.
The working class can secure its
interests only through the overturn of the capitalist system as a whole—that
is, the reorganization of economic life to meet social need. In every aspect of
its policies and of its social being, the ruling class itself makes the case
for socialist revolution.
Patrick Martin
Go to http://www.MEXICANOCCUPATION.blogspot.com
and read articles and comments from other Americans on what they’ve witnessed
in their communities around the country. While most of the population of
California is now ILLEGAL, the problems, costs, assault to our culture by
Mexico is EVERYWHERE. copy and pass it to your friends.
*
OBAMA HAS TWO AGENDAS. SERVICING BANKSTER DONORS, AND PUSHING
OUR BORDERS OPEN FOR MORE ILLEGALS. HE KNOW WE WON’T BE PUNKED BY HIS
PERFORMANCES THE SECOND TIME AROUND!
*
“Records show that four out of Obama's top five contributors
are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG
($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).” Obama’s Economic Advisers: International Socialists, Union Thugs, NBC Execs, Soros Scholars, Subprime Lenders, Amnesty Shills, and Campaign Cronies
Posted on February 24, 2011 by Ben Johnson
http://floydreports.com/obama%E2%80%99s-economic-advisers-international-socialists-union-thugs-nbc-execs-soros-scholars-subprime-lenders-amnesty-shills-and-campaign-cronies/
*
Obama’s Economic Advisers: International Socialists, Union
Thugs, NBC Execs, Soros Scholars, Subprime Lenders, Amnesty Shills, and Campaign
Cronies
*
FROM CREOLE FOLKS
Obama Seeks Brother of "Chicago
Mob Boss" for Top White House Post
The
roaches and con-artist, fake journalist on cable news are all lying about
William Daley being all this and all that, this man is an open borders, down
with America, free trade globalist. MSNBC and Gretta "the
Scientology" Van Susteren from Fox News are knowingly deceiving the
public about D. Issa & his letter to "business owners"=which they
made into such a BIG DAM DEAL, but no one says anything whenBarrack
Hussein Obama, comes around with all of these shady bankers, hedge fund
managers and Wall St. Tycoons, which he puts in his cabinet. All of
Obama's meeting with Wall Street asking, "What can I do for you?" is
never something covered by Keith Oberman or Rachel Maddow.
(Bloomberg) -- President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level administration post, possibly White House chief of staff, people familiar with the matter said.
*
Obamanomics:
How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends,
Corporate Lobbyists, and Union Bosses
BY TIMOTHY P
CARNEY
Editorial Reviews
Obama Is Making
You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers. In Obamanomics, investigative reporter Timothy P. Carney digs
up the dirt the mainstream media ignores and the White House wishes you
wouldn’t see. Rather than Hope and Change, Obama is delivering corporate
socialism to America, all while claiming he’s battling corporate America. It’s
corporate welfare and regulatory robbery—it’s Obamanomics.
Congressman
Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.”
And Johan Goldberg, columnist and bestselling author says, “Obamanomics
is conservative muckraking at its best and an indispensable field guide to the
Obama years.”
If
you’ve wondered what’s happening to America, as the federal government swallows
up the financial sector, the auto industry, and healthcare, and enacts deficit
exploding “stimulus packages,” this book makes it all clear—it’s a big scam.
Ultimately, Obamanomics boils down to this: every time government gets bigger,
somebody’s getting rich, and those somebodies are friends of Barack. This book
names the names—and it will make your blood boil.
*
Obama Is Making You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers.
Investigative
reporter Timothy P. Carney digs up the dirt the mainstream media ignores and
the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is
delivering corporate socialism to America, all while claiming he’s battling
corporate America. It’s corporate welfare and regulatory robbery—it’s
Obamanomics. In this explosive book, Carney reveals:
* The
Great Health Care Scam—Obama’s backroom deals with drug companies spell
corporate profits and more government control
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
If
you’ve wondered what’s happening to our country, as the federal government
swallows up the financial sector, the auto industry, and healthcare, and enacts
deficit exploding “stimulus packages” that create make-work government jobs,
this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils
down to this: every time government gets bigger, somebody’s getting rich, and
those somebodies are friends of Barack. This book names the names—and it will
make your blood boil.
*
Praise for Obamanomics
Praise for Obamanomics
“The
notion that ‘big business’ is on the side of the free market is one of
progressivism’s most valuable myths. It allows them to demonize corporations by
day and get in bed with them by night. Obamanomics is conservative
muckraking at its best. It reveals how President Obama is exploiting the big
business mythology to undermine the free market and stick it to entrepreneurs,
taxpayers, and consumers. It’s an indispensable field guide to the Obama
years.”
—Jonha Goldberg, LA Times columnist and best-selling author
—Jonha Goldberg, LA Times columnist and best-selling author
“‘Every
time government gets bigger, somebody’s getting rich.’ With this astute
observation, Tim Carney begins his task of laying bare the Obama
administration’s corporatist governing strategy, hidden behind the president’s
populist veneer. This meticulously researched book is a must-read for anyone
who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against Barack Obama
—David Freddoso, best-selling author of The Case Against Barack Obama
“Every
libertarian and free-market conservative who still believes that large
corporations are trusted allies in the battle for economic liberty needs to
read this book, as does every well-meaning liberal who believes that expansions
of the welfare-regulatory state are done to benefit the common people.”
—Congressman Ron Paul
—Congressman Ron Paul
“It’s
understandable for critics to condemn President Obama for his ‘socialism.’ But
as Tim Carney shows, the real situation is at once more subtle and more
sinister. Obamanomics favors big business while disproportionately punishing
everyone else. So-called progressives are too clueless to notice, as usual,
which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
*
·
Hardcover: 256 pages
·
Publisher: Regnery Press (November 30,
2009)
·
Language: English
·
ISBN-10: 1596986123
·
ISBN-13: 978-1596986121
*
WALL STREET’S RAPE AND PILLAGE OF A NATION… and it
ain’t over!
*
More
than 5 million households had their wealth wiped out since 2005
By
Andre Damon
28 July 2011
28 July 2011
The typical US household lost 28
percent of its wealth during the economic crisis, with one third of these being
totally wiped out, according to a recent analysis of Census Bureau data carried
out by the Pew Research Center, “Wealth Gaps Rise to Record Highs Between
Whites, Blacks and Hispanics”.
While the study headlines racial
disparities, the most striking findings concern the general impoverishment of
all sections of the population. The percent of US households who have a net
worth of zero dollars or below—meaning they have more debts than assets—grew
from 15 percent in 2005, to 20 percent in 2009. This means that 5.6 million
households, or about 15 million people, had their wealth totally wiped out
during the first part of the economic downturn. These figures come from an
analysis of Census Bureau survey data for 2005 and 2009.
The study found that, after
adjusting for inflation, the median wealth of US households fell from $96,894
in 2005 to $70,000 in 2009, a drop of 28 percent. The majority of this is
attributable to the precipitous fall in real estate values, by about 30 percent
between 2006 and 2009 and even more since.
The fall in home values has been
compounded by falling wages. Between 2005 and 2009, workers’ average hourly
earnings fell, on an inflation-adjusted basis, by 5 percent, according to the
Labor Department.
Indebtedness has grown as rapidly as
wealth has fallen. Between 2005 and 2009, unsecured liabilities grew 33 percent
for the population as a whole, the study found.
Meanwhile, the share of household
wealth held by the wealthiest ten percent of households grew from 49 percent in
2005 to 56 percent in 2009.
Racial minorities have been
particularly hard hit, including by the fall in housing values. The net worth
of Hispanic households fell by a staggering 66 percent, from $12,124 in 2005 to
$5,677 in 2009. The net worth of black households has likewise tumbled 53
percent. Among Hispanics, unsecured debt grew by 47 percent.
The level of inequality between
whites, blacks, and Hispanics is now at the highest level in 25 years, and no
doubt longer. The racial differentiation is partly attributable to geography.
While whites saw the values of their own homes fall by 18 percent and blacks by
23 percent, the home values of Hispanics fell by more than half.
As the report notes, “In 2005, more
than two-in-five of the nation’s Hispanic and Asian households resided in
Arizona, California, Florida, Michigan and Nevada, the five states with the
steepest declines in home prices.” For Hispanics living in these states, the
report noted, “median net worth tumbled from $51,464 in 2005 to $6,375 in 2009,
a loss of 88 percent.”
These racial divergences, however,
mask the more fundamental growth of inequality between the working class and
the wealthy of all races. The report notes that the wealthiest 10 percent of
blacks now controls 67 percent of the wealth for that group, compared to 59
percent before the downturn. For Hispanics, likewise, the wealthiest 10 percent
controlled 72 percent of wealth in 2009, up from 59 percent in 2005.
The number of unemployed, meanwhile,
grew from 7.9 million to 15.2 million between 2005 and 2009. Rising
unemployment, too, has disproportionately affected minorities. Unemployment has
affected blacks and hispanics disproportionately, with the unemployment rate
for blacks currently at 16.5 percent and 11.6 percent for hispanics.
The staggering fall in wealth has
had an transformative effect on American society, contributing to the millions
of foreclosures and personal bankruptcies. According to figures from
Realtytrac.com, there were 10 million foreclosures between 2005 and 2009, the
years covered by the survey.
*
UNDER OBAMA, THE RICH GET RICHER, AND JOBS GO TO HIS
LA RAZA PARTY BASE!
WALL ST PROFIT SOAR! SO DOES FORECLOSURES,
UNEMPLOYMENT, POVERTY FOR AMERICANS… AND ILLEGALS OVER OUR BORDERS!
ONE WAY OBAMA SERVICES HIS CORPORATE PAYMASTERS IS
TO ASSURE THEM THAT HE WILL SABOTAGE E-VERIFY, HOLD OUR BORDERS OPEN FOR HORDES
OF ILLEGALS HEADED FOR OUR JOBS, AND CONTINUE NON-ENFORCEMENT OF LAW
PROHIBITING THE EMPLOYMENT OF ILLEGALS. IN FACT, OBAMA’S SEC. of LABOR IS A LA
RAZA SUPREMACIST HILDA SOLIS WORKING FOR ILLEGALS, MEXICANS THAT IS.
THERE IS A REASON WHY OBAMA, THE LA RAZA DEMS,
MEXICO AND THE U. S. CHAMBER of COMMERCE WANT OPEN BORDERS…it’s all about
keeping wages DEPRESSED!
*
As dozens of major corporations announced increased
second-quarter profits this week, the US working class was hit with a
disastrous new round of mass layoffs.
*
Profits
soar amid mass layoffs
By
Andre Damon
23 July 2011
23 July 2011
As dozens of major corporations announced increased
second-quarter profits this week, the US working class was hit with a
disastrous new round of mass layoffs.
On Monday, book seller Borders
announced that it would liquidate all of its stores, laying off 10,700 workers.
That same day, Cisco, the telecom equipment maker, said it would cut its
workforce by 11,500. Within 24 hours, Lockheed Martin, the aerospace company,
announced that it would eliminate 6,500 jobs.
At the same time, Caterpillar, the
maker of construction equipment, said its profits were up 44 percent in the
second quarter compared to last year. Office equipment maker Xerox saw its
profits grow 41 percent in the same time.
General Electric’s profits were up
17 percent, PepsiCo’s were up by 18 percent, and McDonald’s, the fast food
company, saw a 19 percent increase, reaching a new record.
The energy and mining companies did
even better, benefiting from rising gas prices, which reduced the real incomes
of American workers by billions of dollars. Halliburton, the oil contractor, said
its profits were up by 53 percent in the second quarter compared to a year
earlier, while fellow oil contractor Schlumberger said its profits were up by
64 percent.
Most of the major banks likewise
said their profits were up significantly in the second quarter. Goldman Sachs
announced $1.09 billion in profits, up 57 percent from last year. But even this
huge increase was considered a “disappointment” for traders.
JPMorgan said its second-quarter
profit was up by 13 percent, despite setting aside a $1.3 billion charge-off
for lawsuits it expects in relation to its trafficking of fraudulent mortgages.
Citigroup reported a profit of $3.34 billion, up 24 percent from a year ago.
This renewed growth in profits comes
at the same time as the sharpest growth in unemployment since 2009. Between
March and June, the unemployment rate grew by 0.4 percentage points, to 9.2
percent. In the same period, the number of unemployed people grew by 545,000.
Apple, the world’s largest music
retailer and a leading manufacturer of mobile electronics, announced a 95
percent increase in profitability. In its earnings statement, the company said
that it was sitting on a cash hoard of $76 billion. This staggering sum,
amassed by a single company controlled by a few large shareholders, could put
two million people to work full-time for a year.
US corporations have combined cash
reserves of $2 trillion. That is enough money to put all the unemployed people
in the United States to work for four years, even without any profit generated
from their labor.
But fresh off of what is for many a
record-breaking second quarter, the companies are refusing to use their newly
accumulated cash to hire. In fact, planned mass layoffs have only accelerated.
Even after the disastrous second
quarter, the jobs situation is getting worse. Challenger, Gray & Christmas,
Inc, the executive placement company, said earlier this week that the number of
planned job cuts grew by 11.6 percent, reaching 41,432 last month. This was the
second consecutive monthly increase in planned mass layoffs.
New claims for unemployment benefits
have likewise moved upwards. After dipping in April to 385,000, the lowest
level since 2007, they have steadily grown, reaching 418,000 last week.
The disastrous employment conditions
in the private sector are only exacerbated by the aggressive budget cutting
carried out by state and local governments, under the whip of cuts to federal
assistance.
State and local governments have cut
165,000 jobs so far this year, on top of the quarter million workers they laid
off in 2010. But this is only the beginning: analysts expect hundreds of
thousands more layoffs this year as cuts in federal aid intensify.
These planned layoffs will only be
compounded by the massive federal spending cuts currently being discussed
between the Congress and the White House, which would eliminate between $3 and
$4 trillion from federal spending. This would mean hundreds of thousands of
federal job cuts.
The fact that American corporations
were able to accumulate record profits while hundreds of thousands were thrown
into the ranks of unemployment is not a coincidence. These profits were
generated through the impoverishment of workers, who, desperate for any work
available, have increasingly accepted lower wages and worse conditions.
Despite the abysmal employment
conditions, mass joblessness has disappeared as a political issue in the United
States, with the entire political establishment pushing for cuts to government
spending. This absurd and irrational setup is a product of the monopolization
of political life in the United States by the super-rich, who are carrying out
a full-scale assault on the social conditions of the working class.
In contrast to the ruling class’s
anti-social and destructive policy, the working class must present its own
political program. The trillions of dollars sitting on the balance sheets of
the corporations must be expropriated and used to provide jobs and
desperately-needed social services.
This program requires a new mass
political movement, completely independent of the Democrats and Republicans, to
break the political stranglehold of the corporations, and reorganize society on
the basis of social need, not private profit.
*
OBAMA’S AMERICA: Open
& Undefended Borders!
*
*
OBAMA HAS FILLED HIS ADMINSTRATION WITH PRIMARILY LA RAZA
PARTY MEMBERS.
Here’s his Sec. Labor, HILDA SOLIS:
While in Congress, she opposed strengthening the border
fence, supported expansion of illegal alien benefits (including driver's
licenses and in-state tuition discounts), embraced sanctuary cities that
refused to cooperate with federal homeland security officials to enforce
immigration laws, and aggressively championed a mass amnesty. Solis was steeped
in the pro-illegal alien worker organizing movement in Southern California and
was buoyed by amnesty-supporting Big Labor groups led by the Service Employees
International Union. She has now caused a Capitol Hill firestorm over her new
taxpayer-funded advertising and outreach campaign to illegal aliens regarding
fair wages:
*
Michelle Malkin
The U.S. Department of
Illegal Alien Labor
President Obama's Labor Secretary
Hilda Solis is supposed to represent American workers. What you need to know is
that this longtime open-borders sympathizer has always had a rather radical
definition of "American." At a Latino voter registration project
conference in Los Angeles many years ago, Solis asserted to thunderous
applause, "We are all Americans, whether you are legalized or not."
That's right. The woman in charge of
enforcing our employment laws doesn't give a hoot about our immigration laws --
or about the fundamental distinction between those who followed the rules in
pursuit of the American dream and those who didn't.
*
Obama Administration Challenges Arizona E-Verify Law
The Obama administration has asked
the Supreme Court to strike down a 2007 Arizona law
that punishes employers who hire illegal aliens, a law enacted by then-Governor
Janet Napolitano. (Solicitor General's Amicus Curiae Brief). Called the “Legal Arizona Workers Act,” the law
requires all employers in Arizona to use E-Verify and provides that the
business licenses of those who hire illegal workers shall be repealed.
From the date of enactment, the Chamber of Commerce and other special interest
groups have been trying to undo it, attacking it through a failed ballot
initiative and also through a lawsuit. Now the Chamber is asking the United
States Supreme Court to hear the case (Chamber of Commerce v. Candelaria),
and the Obama Administration is weighing in against the law.
*
“I’m not here to punish bankers!” BARACK OBAMA ON THE FLOOR
OF THE SENATE, IN THE FACES OF THE
AMERICAN PEOPLE
http://mexicanoccupation.blogspot.com/2011/07/obamas-pledge-to-wall-st-rich-will-get.html
*
OBAMA’S CRONY CAPITALISM – WHO PAYS FOR HIS BANKSTERS’
BAILOUTS AND MASSIVE GOV SUBSIDIZED BONUSES… GOT TO CUT FROM THE PEOPLE, BUT
FIRST, OBAMA WILL CONTINUE TO PUSH FOR AMNESTY AFTER AMNESTY, OPEN &
UNDEFENDED BORDERS, AND CONTINUED NON-ENFORCEMENT OF LAWS THAT WILL ENABLE
EMPLOYERS TO HIRE ONLY ILLEGALS ON THE CHEAP!
THAT IS WHY OBAMA IS DETERMINED TO FLOOD OUR COUNTRY WITH
MORE ILLEGALS!
THERE IS A REASON WHY THE U. S. CHAMBER of COMMERCE, FRONT
FOR BIG BUSINESS, AND MOST OF THE FORTUNE 500, GENEROUS DONORS TO THE MEX
FASCIST PARTY of LA RAZA, WANT OBAMA’S OPEN BORDERS AND NON-ENFORCEMENT…
depressed wages!!!!
*
Wsws.org
Underlying the rise of the financial aristocracy—which
exercises control over the entire political system—is the failure of the world
capitalist system as a whole. In amassing its wealth, this tiny layer of the
population, concentrated above all in the United States, has overseen a vast
destruction of industry and social infrastructure. The ruling classes of every
country now openly proclaim that the maintenance of their system depends upon
an unprecedented destruction in the living conditions of the broad masses of
the population.
*
*
Obama’s
budget and the rot of American capitalism
15
February 2011
On Monday, the Obama administration
released its proposed federal budget for fiscal year 2012. After committing
trillions in federal bailouts to the banks and billionaires, the White House is
demanding cuts that will devastate the working class, and particularly its
poorest and most vulnerable sections.
The $1.1 trillion in cuts for the
next decade proposed by the White House is to be only the starting point for
further cuts, as spokesmen for both big business parties acknowledge. Senate
Budget Chairman Kent Conrad, a Democrat, declared, “We’ve got to do
substantially more than $1 trillion worth of deficit reduction in the next
decade.” Republican House Speaker John Boehner said, “There’s no limit to the
amount we’re willing to cut.”
Democrats and Republicans agree on
gargantuan military spending, an uninterrupted flow of funds to the financial
aristocracy, and continued tax breaks for corporate America and the wealthy. As
a top White House official told the press at a background briefing on the
budget, “The debate in Washington is not whether to cut or to spend. We both
agree we should cut. The question is how we cut and what we cut.”
The Obama budget projects that the
ten-year cumulative deficit will reach a staggering $10.4 trillion. By
attempting to wring such vast sums from the hides of the population, the ruling
elite is trying to set American society back to conditions not seen for
generations.
Programs to be cut include not only
those targeted by Obama and the Republicans in the current budget debate—home
heating assistance, Pell Grants, WIC, Head Start, etc.—but the much larger
entitlement programs, Social Security and Medicare, which will face cuts later
in the budget process.
The social impact will be
incalculable. As hundreds of thousands of people face the bitter cold of winter
without heat and gas, Obama is proposing halving the grossly inadequate federal
assistance that is available. As students graduate with record debt and no job
prospects, the administration is proposing significant cuts in government aid.
Such gross indifference to social distress is repeated in every sphere.
Significant cuts to Social Security
and Medicare—which amount to denying America’s elderly their right to pensions
and health care—would have an even broader impact.
Behind the “debate” in Washington
and the media over the budget is a massive lie—the claim that the budget
deficits are a product of excessive social spending. Obama’s budget director
Jacob Lew summed up this grotesque falsification an op-ed column published in
the New York Times February 6, under the headline, “The Easy Cuts Are
Behind Us.” Lew claimed that the causes of the projected budget deficits were
“decisions to make two large tax cuts without offsetting them and to create a
Medicare prescription drug benefit without paying for it, combined with the
effects of the recession…”
This list is notable for what it
leaves out: the cost of two wars, in Afghanistan and Iraq, which runs into the
trillions; and the bank bailouts, where more trillions in public funds were
placed at the disposal of the financial aristocracy, with no questions asked.
The military budget by itself accounts for the lion’s share of the ten-year
deficit: more than $7 trillion of the projected $10 trillion.
Lew’s more fundamental omission,
however, is the grotesque class inequality that pervades American society. The
top one percent of the US population owns over one third of the country’s
wealth. The greatest wealth, however, is concentrated in an even smaller layer.
Indeed, the $1.1 trillion in proposed cuts—which will have a terrible impact on
the lives of millions of people—is somewhat less than the combined wealth of
only the 400 richest Americans.
The arguments presented by the
ruling elite for the cuts are staggeringly hypocritical. As they drown in floods
of cash, they insist that no money is available for workers’ most basic needs.
Workers must reject this argument
out of hand. They are not responsible for the orgy of swindling and
profiteering that produced the 2008 Wall Street crash and pushed the world
economy into the deepest slump since the Great Depression. On the contrary, an
essential feature of the speculative binge was that the share of national
income received by workers has shrunk to the lowest level in nearly a century.
Underlying the rise of the financial aristocracy—which
exercises control over the entire political system—is the failure of the world
capitalist system as a whole. In amassing its wealth, this tiny layer of the
population, concentrated above all in the United States, has overseen a vast
destruction of industry and social infrastructure. The ruling classes of every
country now openly proclaim that the maintenance of their system depends upon
an unprecedented destruction in the living conditions of the broad masses of
the population.
These measures will provoke mass
opposition. The revolutionary struggles in Egypt—in which protests and strikes
of millions of workers and youth forced the resignation of a US-backed dictator
that ruled the country for more than 30 years—point to the forms of struggle
that will spread worldwide in the coming period. Mass unemployment, record
inequality, and the corruption of the political system are common to Egypt and
the United States, and are in fact universal. At the foundation of this system
is the principle that economic life must be subordinated to private profit and
the maintenance of the wealth of those who control the giant banks and
corporations.
The working class can secure its
interests only through the overturn of the capitalist system as a whole—that
is, the reorganization of economic life to meet social need. In every aspect of
its policies and of its social being, the ruling class itself makes the case
for socialist revolution.
Patrick Martin
*
MEXICANOCCUPATION.blogspot.com
*
Go to http://www.MEXICANOCCUPATION.blogspot.com
and read articles and comments from other Americans on what they’ve witnessed
in their communities around the country. While most of the population of
California is now ILLEGAL, the problems, costs, assault to our culture by
Mexico is EVERYWHERE. copy and pass it to your friends.
*
OBAMA HAS TWO AGENDAS. SERVICING BANKSTER DONORS, AND PUSHING
OUR BORDERS OPEN FOR MORE ILLEGALS. HE KNOW WE WON’T BE PUNKED BY HIS
PERFORMANCES THE SECOND TIME AROUND!
*
“Records show that four out of Obama's top five contributors
are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG
($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).”
*
Obama’s Economic Advisers: International Socialists, Union Thugs, NBC Execs, Soros Scholars, Subprime Lenders, Amnesty Shills, and Campaign Cronies
Posted on February 24, 2011 by Ben Johnson
http://floydreports.com/obama%E2%80%99s-economic-advisers-international-socialists-union-thugs-nbc-execs-soros-scholars-subprime-lenders-amnesty-shills-and-campaign-cronies/
*
Obama’s Economic Advisers: International Socialists, Union
Thugs, NBC Execs, Soros Scholars, Subprime Lenders, Amnesty Shills, and Campaign
Cronies
*
FROM CREOLE FOLKS
Obama Seeks Brother of "Chicago
Mob Boss" for Top White House Post
The
roaches and con-artist, fake journalist on cable news are all lying about
William Daley being all this and all that, this man is an open borders, down
with America, free trade globalist. MSNBC and Gretta "the
Scientology" Van Susteren from Fox News are knowingly deceiving the
public about D. Issa & his letter to "business owners"=which they
made into such a BIG DAM DEAL, but no one says anything whenBarrack
Hussein Obama, comes around with all of these shady bankers, hedge fund
managers and Wall St. Tycoons, which he puts in his cabinet. All of
Obama's meeting with Wall Street asking, "What can I do for you?" is
never something covered by Keith Oberman or Rachel Maddow.
(Bloomberg) -- President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level administration post, possibly White House chief of staff, people familiar with the matter said.
*
Obamanomics:
How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends,
Corporate Lobbyists, and Union Bosses
BY TIMOTHY P CARNEY
Editorial Reviews
Obama Is Making
You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers. In Obamanomics, investigative reporter Timothy P. Carney digs
up the dirt the mainstream media ignores and the White House wishes you
wouldn’t see. Rather than Hope and Change, Obama is delivering corporate
socialism to America, all while claiming he’s battling corporate America. It’s
corporate welfare and regulatory robbery—it’s Obamanomics.
Congressman
Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.”
And Johan Goldberg, columnist and bestselling author says, “Obamanomics
is conservative muckraking at its best and an indispensable field guide to the
Obama years.”
If
you’ve wondered what’s happening to America, as the federal government swallows
up the financial sector, the auto industry, and healthcare, and enacts deficit
exploding “stimulus packages,” this book makes it all clear—it’s a big scam.
Ultimately, Obamanomics boils down to this: every time government gets bigger,
somebody’s getting rich, and those somebodies are friends of Barack. This book
names the names—and it will make your blood boil.
*
Obama Is Making You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers.
Investigative
reporter Timothy P. Carney digs up the dirt the mainstream media ignores and
the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is
delivering corporate socialism to America, all while claiming he’s battling
corporate America. It’s corporate welfare and regulatory robbery—it’s
Obamanomics. In this explosive book, Carney reveals:
* The
Great Health Care Scam—Obama’s backroom deals with drug companies spell
corporate profits and more government control
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
If
you’ve wondered what’s happening to our country, as the federal government
swallows up the financial sector, the auto industry, and healthcare, and enacts
deficit exploding “stimulus packages” that create make-work government jobs,
this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils
down to this: every time government gets bigger, somebody’s getting rich, and
those somebodies are friends of Barack. This book names the names—and it will
make your blood boil.
*
Praise for Obamanomics
Praise for Obamanomics
“The
notion that ‘big business’ is on the side of the free market is one of
progressivism’s most valuable myths. It allows them to demonize corporations by
day and get in bed with them by night. Obamanomics is conservative
muckraking at its best. It reveals how President Obama is exploiting the big
business mythology to undermine the free market and stick it to entrepreneurs,
taxpayers, and consumers. It’s an indispensable field guide to the Obama
years.”
—Jonha Goldberg, LA Times columnist and best-selling author
—Jonha Goldberg, LA Times columnist and best-selling author
“‘Every
time government gets bigger, somebody’s getting rich.’ With this astute
observation, Tim Carney begins his task of laying bare the Obama
administration’s corporatist governing strategy, hidden behind the president’s
populist veneer. This meticulously researched book is a must-read for anyone
who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against Barack Obama
—David Freddoso, best-selling author of The Case Against Barack Obama
“Every
libertarian and free-market conservative who still believes that large
corporations are trusted allies in the battle for economic liberty needs to
read this book, as does every well-meaning liberal who believes that expansions
of the welfare-regulatory state are done to benefit the common people.”
—Congressman Ron Paul
—Congressman Ron Paul
“It’s
understandable for critics to condemn President Obama for his ‘socialism.’ But
as Tim Carney shows, the real situation is at once more subtle and more
sinister. Obamanomics favors big business while disproportionately punishing
everyone else. So-called progressives are too clueless to notice, as usual,
which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
*
·
Hardcover: 256 pages
·
Publisher: Regnery Press (November 30,
2009)
·
Language: English
·
ISBN-10: 1596986123
·
ISBN-13: 978-1596986121
Obama’s Inequality Illusion | FrontPage Magazine
MEXICO INVADES, LOOTS OUR JOBS, “FREE” EMERGENCY ROOM MEDICAL, “FREE” ANCHOR BABY BIRTHING = 18 YEARS OF WELFARE, AND ENDLESS DREAM ACTS HANDED TO THEM BY THE DEMOCRAT PARTY ALONG WITH PROMISES OF AMNESTY, LA RAZA SUPREMACY= SANCTUARY CITY/STATES, LIKE MEXIFORNIA, OR CONTINUED NON-ENFORCEMENT.
THE ILLEGALS HAVE ELECTED A SIGNIFICANT FACTION OF LA RAZA SUPREMACIST TO THE STATE LEGISLATURE WHICH HAS PASSED A LAW MAKING IT ILLEGAL FOR EMPLOYERS TO USE E-VERIFY!!!
THERE ARE ONLY EIGHT (8) STATES WITH A POPULATION GREATER THAN LOS ANGELES COUNTY WHERE HALF OF ALL JOBS ARE HELD BY ILLEGALS USING STOLEN SOCIAL SECURITY NUMBERS! THIS SAME COUNTY PAYS OUT $600 MILLION PER YEAR IN WELFARE TO ILLEGALS! Not one legal voted to be mexico’s welfare state!
THE MEXICAN INVASION AND OCCUPATION DEPRESSED WAGES FOR LEGALS FROM $300 TO $400 BILLION PER YEAR! THAT’S WHY OBAMA AND HIS LA RAZA DEMS ARE DETERMINED TO SABOTAGE E-VERIFY! KEEPING WAGES DEPRESSED KEEPS THEIR CORPORATE PAYMASTERS HAPPY AND GENEROUS!
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