The Fall of America and the Rise of Bank Power and LA RAZA SUPREMACY

HALF OF ALL JOBS IN CALIFORNIA ARE HELD BY ILLEGAL USING STOLEN SOCIAL SECURITY NUMBERS. CA PUTS OUT $20 BILLON PER YEAR IN WELFARE TO ILLEGALS. LOS ANGELES COUNTY ALONE PUTS OUT $600 MILLION PER YEAR IN WELFARE TO ILLEGALS, AND LA RAZA ENDORSED GOV JERRY BROWN JUST SIGNED INTO LAW A BILL MAKING IT ILLEGAL FOR EMPLOYERS TO USE E-VERIFY, CLEARING THE WAY FOR EVEN MORE OF HIS LA RAZA PARTY BASE OF ILLEGALS TO TAKE OUR JOBS!

http://mexicanoccupation.blogspot.com/2011/10/portrait-of-america-in-decline-as-power.html

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A portrait of America in decline

31 October 2011

A series of reports over the past ten days—on poverty, wages, income inequality and social mobility—have painted a portrait of America starkly at odds with the official mythology of the United States as the land of unlimited economic opportunity, the country with the world’s highest standard of living.

The World Socialist Web Site has naturally drawn attention to these reports, but Marxist critics and opponents of American capitalism did not collect this data. On the contrary, the figures come from US government agencies like the General Accounting Office, the Congressional Budget Office, the Social Security Administration, the Bureau of the Census and the Federal Reserve Bank of New York.

That makes the picture of the real state of affairs in the America of 2011 all the more damning. Even agencies controlled by political representatives of the financial aristocracy are compelled to admit that the conditions of life for the vast majority of the American people are disastrous.

These figures demonstrate that America is a country of mounting social disparities, in which those who labor and produce all the wealth have less and less to show for it, while those who collect the profits of this labor, while playing a parasitic, destructive and thoroughly reactionary role, see their wealth accumulate to astonishing levels.

Two reports frame the dramatic social polarization in America, not so much between the rich and the poor, as between the rich and the entire rest of society.

According to figures published by the Social Security Administration on October 20, the median income for American workers in 2010 was $26,364, not much more than the official poverty level of $22,025 for a family of four. Given that a family making even twice the official poverty level faces real hardship and insecurity, it is no exaggeration to say that the SSA report shows that the “poor,” by any reasonable definition, constitute the absolute majority of the American people.

On the other side of the spectrum, a Congressional Budget Office study released October 25 shows that the richest 1 percent of US households saw a 275 percent increase in their income between 1979 and 2007 and more than doubled their share of the national income. While the income of this layer nearly tripled, the income of the middle 60 percent of the population rose only 40 percent over 28 years, and the income of the poorest 20 percent rose by only 18 percent.

Some other revealing statistics:

The unemployment rate for workers aged 55 or older has doubled since 2007, and the average period spent jobless has tripled. One third of employed workers 65 and older make less than $11 an hour, while the rates of poverty and food stamp dependence have increased sharply for this sector of the population.

The dollar amount of student loans taken out in 2010 topped $100 billion, the largest ever total for a single year, and total student loan debt has passed the $1 trillion mark in 2011, exceeding the total of credit card debt. Students are borrowing twice as much as they did only ten years ago to pay for their college education.

Geographical mobility in America has fallen to the lowest level reported since 1948, one reflection of the loss of opportunity particularly for the young. People cannot sell their homes or buy new ones, and the majority of young college graduates are being compelled to move back in with their parents because they cannot find work that pays enough to set up on their own.

The Gallup poll found that three times as many American workers are worried about being able to feed themselves or their families, 19 percent of the population, compared to only 6 percent of Chinese workers with similar concerns. Gallup’s measure of access to basic social necessities showed that American workers were finding it more and more difficult to obtain food, adequate shelter and decent medical care.

What these figures demonstrate is both a profound social crisis, and an immense historical transformation. The United States has gone from leading the world in most social indices, including working-class living standards, to a new status as the leader, at least among the industrialized countries, in condemning the majority of its population to conditions of deprivation and misery.

The decline of American capitalism is shown in the decay of its once powerful industrial base, the crumbling of roads, bridges and other social infrastructure, and the closing of schools, libraries, hospitals and other public services. It is no wonder that more than 80 percent of the American people, according to most recent polls, feel that the country is on the wrong track.

Presiding over this decline is a financial aristocracy whose relationship to the rest of society recalls the ancien régime of pre-revolutionary France.

The reports and the portrait they provide of American society are a particularly damning indictment of the Obama administration and all those who presented the election of Obama as a transformative event in American politics. The real content of the past three years has been a colossal redistribution of wealth, overseen and encouraged by Obama, from the working class to the finical elite. And it only continues.

The overriding political necessity is for the working class to grasp the source of the social and economic decline. It is capitalism that has failed in the United States, and on a world scale. The system of production for profit has indeed produced record profits for the tiny minority at the top, but it has become a dead end for the working people who comprise the vast majority.

The working class must advance its own program in defense of jobs, decent education, a secure retirement and other basic social rights. This is only possible by breaking free from the grip of the official trade unions and the Democratic Party, which uphold the interests of the banks and corporations, while falsely claiming to defend the workers.

The growing opposition to inequality and corporate control of the entire political system underlies the rise of the Occupy Wall Street movement and the mass support it has won in less than two months. But this is only an initial expression of what is to come.

The answer to the crisis of capitalism is a bold attack on the capitalists. The working class must fight for socialist demands: the expropriation of the billionaires and the entire ruling financial oligarchy, the public takeover of the major banks and corporations, and using the vast wealth produced by working people to meet social needs, not private profit.

The decisive issue in carrying forward this struggle is the building of a new, revolutionary leadership in the working class—the Socialist Equality Party. We urge young people and workers who are entering political struggle today to join the SEP and fight for this perspective in the international working class.

Patrick Martin

The author also recommends:

Record low mobility reflects US social crisis
[29 October 2011]

Government report says richest 1 percent doubled their share of US national income
[27 October 2011]

Majority in US earn near-poverty wages
[22 October 2011]

Michelle Malkin

No Shady Banking Buddy Left Behind

First Lady Michelle Obama's latest overseas jaunt is getting all the headlines. But President Obama's money-grubbing junket to Chicago may cost taxpayers far more in the long run. With his Gaultier-clad wife sashaying around the Spanish seaside, the lonely fundraiser-in-chief returned to Illinois to take care of some birthday-week business. Job One: Filling the Senate campaign coffers of his corruption-tainted political protege Alexi Giannoulias.

Mission accomplished. Obama's Thursday afternoon campaign event for Giannoulias, the beleaguered state treasurer of Illinois, reportedly raked in $1 million. Lagging behind his GOP opponent, liberal Republican Rep. Mark Kirk, Giannoulias has coveted one-on-one, grip-and-grin time with Obama for months. In addition to the cash, photo-ops and video of the Obama fundraising event that Giannoulias will milk from now until Election Day, the White House has dispatched Vice President Joe Biden, White House senior adviser David Axelrod and White House campaign management guru David Plouffe to boost Giannoulias' bid. Plouffe proclaimed Democrats "all in" for Giannoulias, whom he described as "a great progressive champion."

Obama gave his own personal seal of ethical approval, telling deep-pocketed donors this week: "I appreciate his strong sense of advocacy for ordinary Americans. You can trust him -- you can count on him." Uh-huh. And I've got a bridge to Hope and Change to sell you.

What would Giannoulias know about "ordinary Americans"? Giannoulias, 34, befriended Obama during pickup basketball games with an elite group that also included Michelle Obama's brother, Craig; Chicago edu-crat Arne Duncan (now Education Secretary); and hedge fund manager John Rogers (the ex-husband of the Obamas' ex-White House social secretary, Desiree Rogers). He spread his wealth and influence around early and often to support Obama's fledgling political career. He pitched in $7,000 in 2003-2004 to Obama's Illinois State Senate bids. He hosted fundraisers for Obama's U.S. Senate campaign in 2004 and for his presidential campaign in 2007.

Where'd the cash come from? Giannoulias' Greek immigrant family founded Chicago-based Broadway Bank, a now-defunct financial institution that loaned tens of millions of dollars to convicted mafia felons and faced bankruptcy after decades of engaging in risky, high-flying behavior. It's the place where Obama parked his 2004 U.S. Senate campaign funds. And it's the same place where a mutual friend of Obama and Giannoulias -- convicted Obama fundraiser/slum lord Tony Rezko -- used to bounce nearly $500,000 in bad checks written to Las Vegas casinos. This week, the Chicago Sun-Times revealed an additional $22.75 million Broadway Bank loan to a Rezko-owned business in 2006. Giannoulias held an ownership stake in the bank at the time.

Giannoulias served as Broadway Bank vice president and senior loan officer for four years. According to the Chicago Tribune, during Giannoulias' tenure, some $27 million of Broadway Bank's funny money went to mob crooks Michael "Jaws" Giorango and Demitri Stavropoulos. Giorango is a hustler who fronted a nationwide prostitution ring and was sentenced to six months in prison; Stavropoulos is behind bars for operating a multistate bookmaking ring. Giorango ran the $400-an-hour call girl operation out of high-rise luxury apartments in Chicago with the infamous "Gold Coast Madam," Rose Laws. Giorango and Stavropoulos used their Broadway Bank loans to start their own risky lending business for nontraditional borrowers unable to secure traditional bank financing.

Despite Giorango's criminal record exposed by the Tribune in 2004, Broadway Bank approved massive mortgages for him. Giannoulias' brother, Demetris, explained that as a "relationship bank," Broadway wouldn't just throw someone under the bus because of a "bad article." Instead, the bank went ahead and rubber-stamped a September 2005 loan for $3.4 million to buy a 32-unit Los Angeles apartment complex. The application falsely stated that the borrower, Giorango, had "not been convicted of a felony." Giannoulias oversaw the servicing of such shady loans totaling $11 million. Remember: He was no low-level staffer. He was, as he reminded supporters when he needed to deflect attention away from his youth, top management at Broadway Bank.

In January 2010, the bank entered a consent decree with federal and Illinois state regulators. It required Broadway Bank "to raise tens of millions in capital, stop paying dividends to the family without regulatory approval, and hire an outside party to evaluate the bank's senior management." The city's former inspector general blasted Giannoulias and his family for tapping $70 million worth of dividends in 2007 and 2008 as the real estate crash loomed. Broadway Bank was sitting on an estimated $250 million in bad loans. In late April, federal regulators shut it down. Cost to taxpayers: an estimated $390 million. Giannoulias refused to drop out of the race -- and instead used the company failure to argue that it made him (SET ITAL) more (END ITAL) qualified to serve in office: "I have a renewed vigor and a new perspective on just how horrible it is out there for so many people."

President Obama agrees: Abysmal failure should be rewarded with promotion. He's leaving no shady banking buddy behind.

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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.

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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

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.

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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

“‘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

“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

“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

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·         Hardcover: 256 pages

·         Publisher: Regnery Press (November 30, 2009)

·         Language: English

·         ISBN-10: 1596986123

·         ISBN-13: 978-1596986121

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ARE AMAZED AT HOW UTTERLY BRAZEN THESE CORPORATE OWNED POLITICIANS ARE?

GET THIS BOOK!

Culture of Corruption: Obama and His Team of Tax Cheats, Crooks, and Cronies

by Michelle Malkin

Editorial Reviews

In her shocking new book, Malkin digs deep into the records of President Obama's staff, revealing corrupt dealings, questionable pasts, and abuses of power throughout his administration.

From the Inside Flap

The era of hope and change is dead....and it only took six months in office to kill it.

Never has an administration taken office with more inflated expectations of turning Washington around. Never have a media-anointed American Idol and his entourage fallen so fast and hard. In her latest investigative tour de force, New York Times bestselling author Michelle Malkin delivers a powerful, damning, and comprehensive indictment of the culture of corruption that surrounds Team Obama's brazen tax evaders, Wall Street cronies, petty crooks, slum lords, and business-as-usual influence peddlers. In Culture of Corruption, Malkin reveals:

* Why nepotism beneficiaries First Lady Michelle Obama and Vice President Joe Biden are Team Obama's biggest liberal hypocrites--bashing the corporate world and influence-peddling industries from which they and their relatives have benefited mightily

* What secrets the ethics-deficient members of Obama's cabinet--including Hillary Clinton--are trying to hide

* Why the Obama White House has more power-hungry, unaccountable "czars" than any other administration

* How Team Obama's first one hundred days of appointments became a litany of embarrassments as would-be appointee after would-be appointee was exposed as a tax cheat or had to withdraw for other reasons

* How Obama's old ACORN and union cronies have squandered millions of taxpayer dollars and dues money to enrich themselves and expand their power

* How Obama's Wall Street money men and corporate lobbyists are ruining the economy and helping their friends In Culture of Corruption, Michelle Malkin lays bare the Obama administration's seamy underside that the liberal media would rather keep hidden.

•           Publisher: Regnery Publishing (July 27, 2009)

•           Language: English

•           ISBN-10: 1596981091

•           ISBN-13: 978-1596981096