THE CRONY CLASS:
OBAMA-CLINTONomics was created by BILLARY CLINTON!
Income inequality
grows FOUR TIMES FASTER under Obama than Bush.
“By the time of Bill
Clinton’s election in 1992, the Democratic Party had completely repudiated its
association with the reforms of the New Deal and Great Society periods. Clinton
gutted welfare programs to provide an ample supply of cheap labor for the rich
(WHICH NOW MEANS OPEN BORDERS AND NO E-VERIFY!), including a growing layer of
black capitalists, and passed the 1994 Federal Crime Bill, with its notorious
“three strikes” provision that has helped create the largest prison population
in the world.”
President Obama postures as prison reformer
NATIONAL DEBT
CRONY OBAMANOMICS – HOW OBAMA SQUANDERED AMERICA FOR HIS LOOTING WALL STREET BANKSTERS!
http://mexicanoccupation.blogspot.com/2013/09/the-reality-of-obamas-crony-capitalism.html
$3.39T Quantitative Explosion: Fed Owns More
Treasuries and MBSs Than Publicly Held Debt Amassed From Washington Through Clinton.
JUDICIAL
WATCH:
OBAMA
RANKS AS THE MOST CORRUPT PRESIDENT IN MODERN AMERICAN HISTORY
BARACK
OBAMA and the FINAL DEATH of the AMERICAN MIDDLE-CLASS.
WITH THE MIDDLE-CLASS DEAD AND BURIED, WILL THE MEXICAN FASCIST PARTY of LA RAZA “The Race” HELP OBAMA BUILD HIS DICTATORSHIP? Do a search for Obama and La Raza Fascism!
RASMUSSEN POLL: Hillary Clinton is a bad clone of Barack
Obama owned by the same bankster paymasters as Obama
CRONY CAPITALISM and the FALL of A DEMOCRATIC NATION
OBAMA’S LOOTING BANKSTERS AGREE TO FUND HIS
DICTATORSHIP…. They owned him from day one!
“The
vast sums of money pocketed by bank executives are bound up with activities
that range from borderline legal to flagrantly illegal. Nearly all of the CEOs
included on the list head banks that have been the subject of multiple
investigations and fines related to the rigging of global interest and foreign
exchange rates, mortgage fraud, money laundering, tax evasion and other crimes.”
OBAMA-CLINTONomics:
CEO PAY 300 TIMES GREATER
THAN WORKERS…. AMNESTY WILL MAKE THOSE FIGURES SOAR HIGHER!
“Historically
speaking, the rise in CEO compensation is tied to the global decline of
American capitalism and the increasing financialization of the economy. In 1965
the ratio of CEO to worker pay was 20 to 1. By 1978 the ratio had only grown to
30 to 1. It was only in the 90s that CEO pay reached absurd heights, rising from
59 to 1 in 1989 to 376 to 1 in 2000.”
“In 2014 the
Russell Sage Foundation found that between 2003 and 2013, the median household
net worth of those in the United States fell from $87,992 to $56,335—a drop of
36 percent. …While the rich also saw their wealth drop during the recession,
they are more than making that money back. Between 2009 and 2012, 95 percent of
all the income gains in the US went to the top 1 percent. This is the most
distorted post-recession income gain on record.”
OBAMA IN SELMA: Is it his biggest hoax and
lie to date?
"The lies and
demagogy in Obama’s Selma speech cannot conceal the huge class gulf between the
government he heads and the self-sacrificing workers and youth who led the
fight for civil rights. They fought for equality. He represents
privilege."
"Any grant of legal status will serve as a magnet to prospective illegal immigrants and further depress employment opportunities and wages for African-Americans," Kirsanow wrote Obama in August. "Given that the labor force
participation rate is at an historic low, the unemployment rate is 6.2 percent,
and there has been a precipitous decline in household wealth, the timing for
such a grant of legal status could not be worse."
HILLARY CLINTON: DEDICATED SERVANT TO
THE 1%, OBAMA’S CRIMINAL CRONY BANKSTERS and DISCIPLE of OBAMA-CLINTONOMICS for
the super-rich.
The central aim of Clinton’s speech
was to reassure the American financial oligarchy that, despite her occasional
lukewarm denunciations of corporate criminality and social inequality, she is a
right-wing, pro-business defender of Wall Street.
Hillary bellies up to Obama’s banksters – She reeks of the smell
of BRIBES and BAILOUTS
Hillary
and Obama’s crony criminal banksters…. their looting has just begun!
OBAMA'S CRIMINAL
BANKSTERS DESTROYED MORE THAN A TRILLION DOLLARS IN THE AMERICAN MIDDLE-CLASS'
HOME EQUITY. THEY WERE REWARDED WITH MASSIVE BAILOUTS WHICH THEY USED TO BUY
COMPETITORS. NOT ONE BANKSTER WENT TO PRISON!
Hillary Clinton has
vowed to take the banksters to new heights of looting!
THE ULTIMATE LOOTING of AMERICA BY BIG BANKSTERS
STARTED UNDER BILLARY CLINTON. THEY’VE PULLED IN HUGE BRIBES FROM BANKSTERS
SINCE THEN.
“President
Bill Clinton repealed the law in 1999. Glass-Steagall has long been popular
with liberals, who argue the repeal was part of the deregulation they say led
to the 2008 financial collapse.”
"During the month, some 432,000 people in the US gave up looking for a job." EVEN AS JEB BUSH, HILLARY CLINTON and BERNIE SANDERS PREACH AMNESTY! AMNESTY! AMNESTY!
"The American phenomenon of record stock values fueling an ever greater concentration of wealth at the very top of society, while the economy is starved of productive investment, the social infrastructure crumbles, and working class living standards are driven down by entrenched unemployment, wage-cutting and government austerity policies, is part of a broader global process."
HILLARY CLINTON'S BIGGEST DONORS ARE OBAMA'S CRIMINAL CRONY
BANKSTERS!
"A defining expression of this crisis is the dominance of financial speculation and parasitism, to the point where a narrow international financial aristocracy plunders society’s resources in order to further enrich itself."
Federal Reserve documents stagnant state of US economy
Federal Reserve documents stagnant state of US economy
By Barry Grey
21 July 2015
The US Federal Reserve Board last week released its semiannual Monetary Policy Report to Congress, providing an assessment of the state of the American economy and outlining the central bank’s monetary policy going forward. The report, along with Fed Chair Janet Yellen’s testimony before both the House of Representatives and the Senate, as well as a speech by Yellen the previous week in Cleveland, present a grim picture of the reality behind the official talk of economic “recovery.”In her prepared remarks to Congress last Wednesday and Thursday, Yellen said, “Looking forward, prospects are favorable for further improvement in the US labor market and the economy more broadly.”
She reiterated her assurances that while the Fed would likely begin to raise its benchmark federal funds interest rate later this year from the 0.0 to 0.25 percent level it has maintained since shortly after the 2008 financial crash, it would do so only slowly and gradually, keeping short-term rates well below historically normal levels for an indefinite period.
This was an expected, but nevertheless welcome, signal to the American financial elite, which has enjoyed a spectacular rise in corporate profits, stock values and personal wealth since 2009 thanks to the flood of virtually free money provided by the Fed.
"But as Yellen’s remarks and the Fed report indicate, the explosion of asset values and wealth accumulation at the very top of the economic ladder has occurred alongside an intractable and continuing slump in the real economy."
In her prepared testimony to the House Financial Services Committee and the Senate Banking Committee, Yellen noted the following features of the performance of the US economy over the first six months of 2015:
* A sharp decline in the rate of economic growth as compared to 2014, including an actual contraction in the first quarter of the year.
* A substantial slackening (19 percent) in average monthly job-creation, from 260,000 last year to 210,000 thus far in 2015.
* Declines in domestic spending and industrial production.
In her July 10 speech to the City Club of Cleveland, Yellen cited an even longer list of negative indices, including:
* Growth in real gross domestic product (GDP) since the official beginning of the recovery in June, 2009 has averaged a mere 2.25 percent per year, a full one percentage point less than the average rate over the 25 years preceding what Yellen called the “Great Recession.”
* While manufacturing employment nationwide has increased by about 850,000 since the end of 2009, there are still almost 1.5 million fewer manufacturing jobs than just before the recession.
* Real GDP and industrial production both declined in the first quarter of this year. Industrial production continued to fall in April and May.
* Residential construction (despite extremely low mortgage rates by historical standards) has remained “quote soft.”
* Productivity growth has been “weak,” largely because “Business owners and managers… have not substantially increased their capital expenditures,” and “Businesses are holding large amounts of cash on their balance sheets.”
* Reflecting the general stagnation and even slump in the real economy, core inflation rose by only 1.2 percent over the past 12 months.
The Monetary Policy Report issued by the Fed includes facts that are, if anything, even more alarming, including:
* “Labor productivity in the business sector is reported to have declined in both the fourth quarter of 2014 and the first quarter of 2015.”
* “Exports fell markedly in the first quarter, held back by lackluster growth abroad.”
* “Overall construction activity remains well below its pre-recession levels.”
* “Since the recession began, the gains in… nominal compensation [workers’ wages and benefits] have fallen well short of their pre-recession averages, and growth of real compensation has fallen short of productivity growth over much of this period.”
* “Overall business investment has turned down as investment in the energy sector has plunged. Business investment fell at an annual rate of 2 percent in first quarter… Business outlays for structures outside of the energy sector also declined in the first quarter…”
The report incorporates the Fed’s projections for US economic growth, published following the June meeting of the central bank’s policy-setting Federal Open Market Committee. They include a downward revision of the projection for 2015 to 1.8 percent-2.0 percent from the March projection of 2.3 percent to 2.7 percent.
That the US economy continues to stagnate and even contract is indicated by two surveys released last week while Yellen was testifying before Congress. The Fed reported that factory production failed to increase in June for the second straight month and output in the auto sector fell 3.7 percent. The Commerce Department reported that retail sales unexpectedly fell in June, declining by 0.3 percent.
These statistics follow the employment report for June, which showed that the share of the US working-age population either employed or actively looking for work, known as the labor force participation rate, fell to 62.6 percent, its lowest level in 38 years. During the month, some 432,000 people in the US gave up looking for a job.
The disastrous figures on business investment are perhaps the most telling indicators of the underlying crisis of the capitalist system. The Fed report attributes the sharp decline so far this year primarily to the dramatic fall in oil prices and resulting contraction in investment and construction in the energy sector. But the plunge in oil prices is itself a symptom of a general slowdown in the world economy.
Moreover, a dramatic decline in productive investment is common to all of the major industrialized economies of Europe and North America. In its World Economic Outlook of last April, the International Monetary Fund for the first time since the 2008 financial crisis acknowledged that there was no prospect for an early return to pre-recession levels of economic growth, linking this bleak prognosis to a general and pronounced decline in productive investment.
The American phenomenon of record stock values fueling an ever greater concentration of wealth at the very top of society, while the economy is starved of productive investment, the social infrastructure crumbles, and working class living standards are driven down by entrenched unemployment, wage-cutting and government austerity policies, is part of a broader global process.
The economic crisis in the US and internationally is not simply a conjunctural downturn. It is a systemic crisis of global capitalism, centered in the US. A defining expression of this crisis is the dominance of financial speculation and parasitism, to the point where a narrow international financial aristocracy plunders society’s resources in order to further enrich itself.
While the economy is starved of productive investment, entirely parasitic and socially destructive activities such as stock buybacks, dividend hikes and mergers and acquisitions return to pre-crash levels and head for new heights. US corporations have spent more on stock buybacks so far this year than on factories and equipment.
The intractable nature of this crisis, within the framework of capitalism, is underscored by the IMF’s updated World Economic Outlook, released earlier this month, which projects that 2015 will be the worst year for economic growth since the height of the recession in 2009.
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