Thursday, October 3, 2013

OBAMAnomics - THE IMPACT of CRONY CAPITALISM - Shutdown squeezes American economy - The Hill - covering Congress, Politics, Political Campaigns and Capitol Hill | TheHill.com

Shutdown squeezes American economy - The Hill - covering Congress, Politics, Political Campaigns and Capitol Hill | TheHill.com


On fifth anniversary of Wall Street crash, Obama tries the Big Lie technique


17 September 2013

 

On Monday, US President Barack Obama marked the fifth anniversary of the Wall Street crash of September 15, 2008 with a White House speech that only underscored the unbridgeable chasm that separates the entire political establishment from the broad mass of working people.

 

http://mexicanoccupation.blogspot.com/2013/09/crony-capitalism-obama-celebrates-5.html

 

Forbes magazine reported that the wealth of the 400 richest Americans had climbed to $2 trillion, a jump from $1.7 trillion in 2012.


STAGGERING POVERTY IN AMERICA CAUSED BY OBAMA, HIS CRONIES AND WALL STREET DONORS…AND THEN ILLEGALS GET THE JOBS!

 

http://mexicanoccupation.blogspot.com/2013/09/obamanomics-and-obamas-crony-capitalism.html

 

According to a new report by University of California Berkeley Professor Emmanuel Saez, the gulf between the wealthy and the rest of society has sharply expanded under Obama. The richest one percent now monopolize more than 22 percent of all household income in America. The richest ten percent of the population now control more than half of the nation’s income, 50.4 percent—the highest proportion since the government began collecting income statistics in 1917.

Since 2009, the richest one percent has captured a staggering 95 percent of all income gains. The class war policies of the government—including bank bailouts, “quantitative easing” and an attack on wage and benefits for the working class—have led to a 31.4 percent rise in income for the top one percent. The wealthy have more than recovered the losses that came from the Wall Street collapse of 2008.

Meanwhile, the bottom 99 percent has seen a negligible 0.4 percent rise in income. Tens of millions of workers—who never recovered from the record household income drop of 2007 to 2009—continue to reel from the effects of mass job losses, falling wages, home foreclosures, indebtedness and social service cuts.

No comments: