Inequality doubles in the US between 2003-2013
Hillary bellies up to Obama’s banksters – She
reeks of the smell of BRIBES and BAILOUTS
Income inequality
grows four times faster under Obama than Bush
The study noted that, in the aftermath of the Great
Depression, the US undertook policies “during the New Deal [that] permanently
reduced income concentration until the 1970s.” In contrast, the study noted a
striking absence of any measures to reign in social inequality in the present
crisis. Far from it, the Obama administrations’ bank bailouts, austerity
program and wage-cutting policies have vastly expanded the prevalence of social
inequality.
JOBS – WORST UNDER OBAMA SINCE THE DEPRESSION
...meanwhile millions of Mexicans have jumped our borders and jobs for
obamacare, LA RAZA welfare, anchor baby welfare and to vote dem for more!!!
more at this link – post on your Facebook and email broadcast
http://mexicanoccupation.blogspot.com/2013/08/two-thirds-of-all-jobs-under-obama-go.html
DURING OBAMA’S FIRST TERM 2/3s OF ALL JOBS WENT TO IMMIGRANTS,
BOTH LEGAL AND ILLEGAL. FEDERAL WORKPLACE ENFORCEMENT of LAWS PROHIBITING THE
EMPLOYMENT of ILLEGALS PLUMMETED 70%... AND OBAMA - HOLDER SABOTAGED E-VERIFY
EVERYWHERE THEY COULD TO EASE MORE LA RAZA INTO OUR JOBS!
AMNESTY….LA
RAZA IS PRINTING OUT FRAUD I.D.s BY THE MILLIONS.
"They hauled them down to the
border," Sakuma said. "Three days later, they were standing in our
office, but they had a different name and a different Social Security
number."
Inequality doubles in the US between
2003-2013
By
Gabriel Black
27 June 2014
A report
released Wednesday by researchers at the University of Michigan provides
further confirmation of the enormous increase in wealth inequality in the
United States over the past decade.
In a
two-page research summary, the authors predict that this widening gulf in
American society will continue, with no sign of slowing down.
According
to the report, wealth inequality has “roughly doubled” since 2003. The median
American household was 13.6 times poorer than an average household in the 95th
percentile in 2003. By 2013, the average household in the 95th percentile (top
5 percent) was 24.2 times richer than the median household and 426.5 times
richer than the average household in the 25th percentile.
The
report demonstrates how nearly every section of society, except for the rich
and super-rich, has seen a massive loss in wealth since 2003.
In 2003,
the median percentile of Americans had $87,992 in total assets. Between 2003
and 2013 the median American household lost 36 percent of its wealth, ending
with $56,335 in total assets in 2013 (in 2013 dollars, taking account of
inflation). The 75th percentile (top 25 percent) meanwhile lost 13.8 percent of
its wealth, ending at $260,405 in 2013. A large portion of this decline can be
attributed to a decline in home prices.
While the
median household lost 36 percent of its wealth, the 25th percentile lost a
staggering 68.3 percent of its wealth, sinking from $10,129 to $3,200.
Meanwhile, the 5th percentile saw its indebtedness increase substantially,
starting at $9,749 in debt in 2003 and ending in $27,416 in debt in 2013.
While
over three quarters of Americans have lost wealth since 2003, the richest
Americans have amassed it. The 95th percentile of Americans increased its
wealth by 14.4 precent, from $1,192,639 in 2003 to $1,364,834 in 2013.
The
overwhelming majority of people have seen their wages decline, jobs dry up, and
their houses, if they can afford one, decline in value. However, the ruling
class has its wealth concentrated in the stocks of the major companies and banks,
which are benefiting from the attack on living standards and the inflation of
assets.
In
particular, the stock market has been deliberately inflated by cheap credit
from the Federal Reserve. The government has essentially opened up a limitless
spigot of credit at zero, or close to zero, interest rates for the banks. Awash
with cash, the stock market has reached record highs.
The
authors of the report explain, “While stock prices rebounded relatively quickly
after the collapse in 2007, housing prices did not.” The authors continue,
“Affluent households are more likely than other households to hold stocks and
have large portfolios, which allowed them to benefit from the gains in the
stock market.”
The
summary from the University of Michigan reveals how the average American has
not only lost wealth in the past 10 years, but also over the past 30 years.
Between 1984 and 2007 the median American household slowly gained wealth, due,
largely, to the appreciation of home values. However, the destruction of that wealth
in the aftermath of the financial crisis, and the current stagnation, reversed
those gains.
The
median American household lost roughly a quarter of its wealth between 1984 and
2013. The bottom 25th percentile lost almost three quarters of its wealth
during the same period. However, the wealth of the top 95th percentile grew by
almost 100 percent.
The
report concludes that while wealth inequality has increased substantially in
the past decade, there is no sign of this trend stopping.
The
authors writes, “It is possible that the very slow recovery from the Great
Recession will continue to generate increased wealth inequality in the coming
years as those hardest hit may still be drawing down the few assets they have
left to cover current consumption and the housing market continues to grow at a
modest pace.”
The
University of Michigan report comes on the heels of reports by the IMF, Federal
Reserve, and World Bank, all of which downgraded estimates for US growth in
2014. All of the agencies predict that the United States will grow this year by
about 2 percent, nearly a full percentage downgrade from previous estimates,
and well below the post-World War II average of 3.3 percent.
On
Wednesday, the US Commerce Department released statistics that showed that the
US economy contracted at a 2.9 percent annual rate in the first three months of
this year. These statistics were released after the previous downgrades to 2014
growth, suggesting that growth in 2014 might be even lower than currently
projected.
GOOD TIME TO HAND
MILLIONS OF JOBS TO ILLEGAL AND EXPAND THE LA RAZA MEXICAN WELFARE STATE OFF
OUR BACKS?
These statistics,
taken together with the Michigan report, make clear that there will be no
economic relief to the vast majority of Americans. The past six years of high
unemployment, falling wages, cuts to education, health care, and other vital
social services, are the “new normal.” Meanwhile, inequality will continue to
skyrocket as the financial aristocracy gorges itself on cheap cash, hoping to
stave off a new financial collapse.
SOARING WELFARE FOR ILLEGALS on the
gringos’ backs!
BARACK OBAMA and the LA RAZA “THE
RACE” MEXICAN WELFARE STATE HE EXPANDED IN AMERICA’S OPEN and UNDEFENDED
BORDERS WITH NARCOMEX.
ROBERT RECTOR: THE COST OF UNFETTERED IMMIGRATION – AMERICAN
INVADED, OCCUPIED AND LOOTED BY ILLEGALS
THE RISE OF BARACK OBAMA and the FALL of AMERICA
HOW A SOCIOPATH CONNED A NATION CALLING IT “HOPE &
CHANGE” AND THEN BECAME GEORGE BUSH’S THIRD & FORTH TERMS ON STEROIDS.
BANKS
and GEITHNER ….He was the banksters' HOPE & NO CHANGE man in the white
house!
CRONY CAPITALISM: HOW
OBAMA AND HIS CRONY BANSKSTERS LOOTED AMERICA – It’s a work still in progress!
As he puts it, “We did save the economy, but we
lost the country doing it.” Geithner adds, “Conventional wisdom still holds
that we abandoned Main Street to protect Wall Street.”
THE OBAM MELTDOWN is here:
OBAMANnomics: HOW HIS CRONY BANKSTERS LOOTED AMERICAN AND
WERE PAID MASSIVE BONUSES FOR DOING SO!
http://mexicanoccupation.blogspot.com/2014/06/economy-slumps-wall-street-booms.html
DURING BARACK OBAMA’S FIRST TERM, 2/3s OF ALL
JOBS WENT TO IMMIGRANTS, BOTH LEGAL AND ILLEGAL.
IT’S ALL ABOUT MAKING BILLIONAIRES BY KEEPING
WAGES DEPRESSED.
SHOULD WE KEEP IMPORTING FOREIGN BORN TECH WORKERS
YEAR AFTER YEAR AFTER YEAR?
“Tech tycoons like Larry Ellison and
Mark Zuckerberg have gotten rich while wages in the technology sector have
stagnated.”
Silicon Valley Poverty Is Often
Ignored By The Tech Hub's Elite
TECH
GIANT APPLE COMPUTER SAYS HELL NO TO PAYING TAXES and HELL NO TO HIRING
AMERIANS! KEEP THE BOATLOADS OF CHINESE AND INDIANS COMING!
Tech firms fight hiring rules in
immigration bill…. NO AMERICANS NEED APPLY!!!
Americans would "be shocked to know that most
of the H-1B visas … are going to outsourcing companies," Sen. Dick Durbin,
D-Ill., said during a recent hearing.
OBAMA’S IMPERIAL AMNESTY – THE
THRUST TO BUILD THE DEM PARTY
WITH
40 MILLION BORDER CLIMBERS.
H-1B VISAS – THE CONSPIRACY TO KEEP WAGES DEPRESSED WITH
ENDLESS BOATLOADS OF FOREIGNERS IMPORTED TO LOOT OUR JOBS
DEATH OF THE AMERICAN MIDDLE CLASS
– A NATION LOOTED BY WALL
STREET
AND NOW RENTING…. and the rents are
soaring!
OBAMA’S OPEN and UNDEFENDED
BORDERS… the invasion gets worse!
People pour out of suspected human smuggling
truck in Texas
THE ADMINISTRATION MAKES IT TOP PRIORITY TO ! not ! KNOW HOW MANY FUTURE DEMS ARE CLIMBING OUR BORDERS TO LOOT!!!
E-VERIFY WOULD STOP THE MEX INVASION. THIS IS WHY HISPANDERING OBAMA and THE DEMOCRAT PARTY HAVE PROMISED LA RAZA NO E-VERIFY WILL EVER BE EMPLOYED!
Despite efforts to shore up the U.S.–Mexico border, including 650 miles of fence, 21,000 Border Patrol agents and $18 billion spent on enforcement in 2012, a recent report states that only about half of all unauthorized immigrants crossing the border from Mexico are caught.