Saturday, March 8, 2014

WILL OBAMA'S LOOTING of AMERICA TRICKLE DOWN? Obama to congressional GOP: Time to lift wages | TheHill

Obama to congressional GOP: Time to lift wages | TheHill


OBAMAnomics: OBAMA AND HIS WALL STREET CRONIES LOOTING AMERICA!


These are only the most striking of a barrage of numbers reported in recent weeks, demonstrating that for the US financial aristocracy, the Crash of 2008 has been used to engineer a historic redistribution of wealth.

CRONY CAPITALISM: REALITIES of OBAMA'S RECOVERY - Five years of Obama’s “recovery”

Five years of Obama’s “recovery”


Five years of Obama’s “recovery”

8 March 2014
This week marks five years since the New York Stock Exchange hit its low point at the bottom of the financial crash that erupted with the collapse of Lehman Brothers investment bank. On March 6, 2009, Dow Jones Industrial Average hit its post-collapse low of 6,443. Three days later, on March 9, 2009, the S&P 500 hit its post-collapse low of 676.

Yesterday, at the close of stock trading for the week, the Dow Jones average closed at 16,452, up a colossal 10,000 points over five years, or 154 percent. The S&P 500 stood at 1,878, rising even faster than the Dow, gaining 170 percent over five years.

These are only the most striking of a barrage of numbers reported in recent weeks, demonstrating that for the US financial aristocracy, the Crash of 2008 has been used to engineer a historic redistribution of wealth.

The wealth of the parasites who own the bulk of stocks, bonds, hedge fund shares and other financial instruments has never been greater, and is growing at a record pace. The wealthiest 1 percent of the US population raked in 95 percent of all income gains between 2009 and 2012. As reported by the WSWS earlier this week, the world’s billionaires saw their combined wealth soar more than $1 trillion last year alone.

As for the banks, beneficiaries of trillions in cash, loans and loan guarantees from the US Treasury and the Federal Reserve, both stock prices and incomes have returned to stratospheric levels.
For the American working class—that is, the overwhelming majority of the population, all those who presently work for wages, or are unemployed and seeking work, or are retired and living on pensions and Social Security derived from their past wages—the situation is far different.

The median US household income has actually fallen by 6 percent since March 2009, to $52,297, after adjusting for inflation. The median family—the family living at the 50th percentile—is thus worse off today than five years ago, at the trough of the financial crash.

The unemployment rate has recovered only slightly, and only because so many millions of workers have dropped out of the labor force and are no longer registered as seeking work. The actual rate of unemployment, if “discouraged” and part-time workers were included, would stand at well over 15 percent, a near-Depression level.

The cost of living has risen steadily over the past five years, even as workers’ real wages have stagnated. The price of a gallon of gas has risen by more than 50 percent, from $2.40 in 2009 to well over $3.60 in most parts of the country today. The employee share of health insurance premiums for family coverage has nearly doubled over the last decade, from $2,412 in 2003 to $4,565 last year. As for food prices, anyone who shops in a supermarket is aware of the ever-rising cost of milk, meat, fresh fruit and vegetables, and other essentials.

Working people have to take on more and more debt just to keep up with their daily expenses. Household debt rose $241 billion in the fourth quarter of 2013, reaching $11.52 trillion. One-third of all households were unable to save a dime last year.
The biggest single increase in debt came from student-loan balances, which surged $114 billion compared to the previous year. The younger generation is absorbing an enormous increase in the cost of education, while facing a job market that offers them a grim future of low-paid, insecure employment.

The disparity between the fortunes of the super-rich and the struggles of the vast majority has become so stark and so wide that the corporate-controlled media and the corporate-controlled political parties cannot avoid discussing it. Obama and the Democrats are even seeking to raise the issue of economic inequality against their Republican opponents, albeit half-heartedly and without any serious policy proposals.

The Obama “campaign” against inequality is entirely cynical and insincere, because the five-year record of this administration is summed up in the figures presented above. The 10,000-point rise in the Dow Jones average is not an accident, or merely the result of blind market forces. It is the result of policies deliberately engaged in, by the Democrats and Republicans, by Bush and Obama, to bail out the banks and speculators and make the working class pay for the crisis of American capitalism.
Inequality infects every aspect of economic and political life. It plays no small part in the relentless drive for war, which has become a permanent feature of the political ideology of the ruling class. Aware of the deep social divisions at home, the corporate and financial elite seek to direct tensions outward—now in the form of a conflict with Russia over Ukraine that threatens to devolve into civil war, threatening a military clash between nuclear-armed states.

And inequality is at the root of the collapse of democratic rights in the United States. While coverage has largely been dropped by the corporate media, each week brings new revelations of massive police-state spying programs from NSA whistle-blower Edward Snowden. It is the broad mass of working people who are the main target of these programs.

The working class can expect nothing from the big business politicians, whether Democratic or Republican, than a continuation and an acceleration of the policies of class warfare and social counterrevolution that have been carried out for the past five years.

Only the independent political mobilization of the working class against the capitalist system and its defenders, offers a way forward. This requires the building of a new revolutionary party of the working class, based on a socialist and internationalist program.

Patrick Martin

OBAMAnomics at work: How Barack Obama looted America for his Wall Street paymasters:


In all, the research team behind the Forbes Billionaires list found a total of 1,645 billionaires worldwide as of February 12, with a combined net worth of $6.4 trillion, an increase of $1 trillion from 2013. The number of new billionaires, at 268, was the highest figure in the report’s history.

OBAMA’S WALL STREET-FUNDED WAR on the AMERICAN PEOPLE:

 

http://mexicanoccupation.blogspot.com/2014/02/barack-obama-and-wall-streets-war-on.html

 

The Democrats’ proposal for a trivial increase in the minimum wage comes as social inequality is hitting unprecedented levels. The net worth of America’s billionaires reached $1.2 trillion last year, more than double what it was in 2009. Meanwhile, median household income in the US plummeted by 8.3 percent between 2007 and 2012.

  

WALL STREET LOOTS!

 

THE STAGGERING COST OF OBAMA’S CORPORATE WELFARE PROGRAM:

 

http://mexicanoccupation.blogspot.com/2014/02/the-staggering-cost-of-obamas-crony.html

 

LIKE HIS CRONY BANKSTERS, Tech CEOs literally got access to the Oval Office while the bill was being shaped, the New York Times reported in those heady early days of Hope and Change, while the CEOs’ lobbyists met down the hall with top economics aide Jason Furman.

 

OBAMA and his CRONIES BANKRUPT AMERICA… then send the bills for their LOOTING to the AMERICAN MIDDLE CLASS

 

http://mexicanoccupation.blogspot.com/2014/02/obama-bankrupts-america-while-his_19.html

  

RECALL OBAMA?

 

Over seven in 10 Obama voters, and 55 percent of Democrats, regret voting for President Obama's re-election in 2012, according to a new Economist/YouGov.com poll.


They knew Obama was an unqualified crook; yet they promoted him. They knew Obama was a train wreck waiting to happen; yet they made him president, to the great injury of America and the world. They understood he was only a figurehead, an egomaniac, and a liar; yet they made him king, doing great harm to our republic (perhaps irreparable.)”


THE OBAMA YEARS – THE GOLDEN AGE OF BANKSTER LOOTING AND BANKSTER WELFARE…

INCEST! The case of bankster-owned Barack Obama and crony Jamie Dimon of JP MORGAN… their looting continues!



OBAMA’S CRONY BANKSTERS PARTY UP AND STILL GIVE THE AMERICAN PEOPLE THE MIDDLE FINGER


'Not when those foibles had resulted in real
harm to millions of people in the form of
foreclosures, wrecked 401(k)s, and a
devastating unemployment crisis.'



MASSIVE UNEMPLOYMENT IN AMERICA AS OBAMA and the DEMOCRAT PARTY PUSH OUR BORDERS OPEN, SABOTAGE E-VERIFY, AND PROMISE ILLEGALS NO ENFORCEMENT OF LAWS PROHIBITING THE EMPLOYMENT of ILLEGALS… it’s all about buy the Mexican vote and keeping wages depressed for DEM POL paymasters!


There are mounting warnings by economists that the US confronts long-term economic stagnation and high unemployment into the indefinite future….

"We could cut unemployment in half simply by reclaiming the jobs taken by illegal workers," said Representative Lamar Smith

 

 

SUPER TOP

OBAMA’S AMNESTY HOAX TO LEGALIZE MEXICO’S LOOTING, DESTROY THE GOP WITH 40 MILLION NEW DEMS, AND KEEP WAGES FOR GREATER PROFITS FOR THE PAYMASTERS OF CORRUPT DEMS’

HERITAGE FOUNDATION: OBAMA’S AMNESTY WOULD ADD 100 MORE ILLEGALS AND COST AMERICANS (Legals) BILLIONS AND BILLIONS

the staggering cost of Mexico’s looting: