Friday, April 13, 2018





World economy in danger of being “torn apart”
By Nick Beams
13 April 2018
On the eve of the International Monetary Fund (IMF) annual spring meeting in Washington next week, its managing director, Christine Lagarde, warned that the international trading system risks destruction because of growing protectionism.
In a speech at the University of Hong Kong on Wednesday, Lagarde said: “The multilateral trade system has transformed our world over the past generation. But that system of rules and shared responsibility is now in danger of being torn apart. This would be an inexcusable, collective policy failure.”
Lagarde did not specifically cite the actions of the Trump administration and its plans to impose tariffs on as much as $150 billion of Chinese goods annually but referred to the claim by “some people” that trade imbalances were caused by “unfair” trade practices.
While such practices existed, Lagarde said, bilateral trade imbalances generally were a snapshot of the division of labour across economies, including global value chains.
The first priority for the global economy was for governments to “steer clear of protectionism in all its forms”—a call that has been a regular feature of recent IMF policy pronouncements.
Yet it is a measure of how far and how fast events are moving in the other direction that a year ago such calls were directed to US opposition to having a commitment to “resist protectionism” being included in statements by global economic forums. Today the calls are aimed at actions already initiated by the Trump administration.
The IMF is expected to maintain its upbeat assessment for global economic growth when it issues its World Economic Outlook assessment. Growth in 2017 prompted the view that, finally, after nearly a decade, the effects of the 2008 financial crisis were being overcome.
Lagarde said the IMF could still see global momentum and continued to be optimistic. But while the current global picture remained bright, “we can see darker clouds looming,”
The reality was that the momentum expected for 2018 and 2019 would eventually slow, she said. “It will slow because of fading fiscal stimulus, including in the US and China; and because of rising interest rates and tighter financial conditions as major banks normalise monetary policy.”
In the longer term, with ageing populations and weak productivity, “you have a challenging medium-term outlook, especially in the advanced world,” she said.
There are some indications, however, that even the IMF’s predictions for solid growth over the next 18 months may not be met. In an article published April 8 the Wall Street Journal noted that “cracks” were forming in the global growth story, with a reassessment of the scenario that growth was “on the verge of blasting out of a long period of weakness.”
In the recent period “the global comeback has been in a bit of a rut,” the article said. “In the US, gauges of manufacturing and services activity have been pulling back. Retail sales have fallen for three straight months, construction spending decelerated at the start of the year, and auto sales have largely plateaued.” On top of this, there was a sharp slowdown in the growth of the US labour market last month.
A recent Financial Times article also pointed to slowing growth, posing the question: “Is the global economy starting to splutter?” It stated: “Despite the healthy employment picture, US retail sales unexpectedly fell in January and fell short of forecasts in February. European and Chinese retail sales also came in below economists’ expectations in February, and purchasing managers’ indices have weakened almost everywhere.”
The article cited a Bank of America poll of fund managers last month in which a record 74 percent concluded that the global economy was now in its “late cycle” and pointed to remarks by hedge fund manager Stephen Jen that the present turbulence on stock markets could be the beginning of the end of the bull run.
According the Jen, the “calm the world has enjoyed was the result of Herculean policy efforts that will have negative consequences in the quarters ahead. The calm will probably be followed by a storm.”
Jen was referring to the injection of trillions of dollars into the global monetary system by the US Federal Reserve and the other major central banks, which has played the key role in fuelling stock market speculation, above all in the US. But with banks seeking to “normalise” monetary policy by lifting interest rates, this could lead to a collapse of the financial bubble.
Significantly in her Hong Kong speech, Lagarde said that, as a result of easy financial conditions, global debt—public and private—had now reached an all-time high of $164 trillion.
Private debt made up two-thirds of the total, with public debt reaching levels not seen since World War II. Lagarde said if present trends continued, “many low-income countries will face unsustainable debt burdens.”
“The bottom line is that high debt burdens have left governments, companies and households more vulnerable to a sudden tightening of financial conditions. This potential shift could prompt market corrections, debt sustainability concerns, and capital flow reversals in emerging markets.”
It was necessary to use the current “window of opportunity” to prepare for the challenges ahead by “creating room to act when the next downturn inevitably comes.”
Another “downturn,” however, will not be a simple fluctuation in the business cycle but a major crisis because none of the underlying contradictions that produced the financial meltdown of 2008 has been resolved. In many ways, as the debt figures show, they have been intensified under conditions where the entire international trading and economic order is, in Lagarde’s words, “in danger of being torn apart.”

Report details massive growth of inequality worldwide

By Eric London
10 April 2018
In December, researchers Thomas Piketty, Emmanuel Saez and Gabriel Zucman released the groundbreaking 300-page World Inequality Report 2018 detailing the growth of social inequality on a world scale over recent decades. The authors “provide the first estimates of how the growth in global income since 1980 has been distributed across the totality of the world population.”

The growth of within-country inequality

The report shows that inequality is worsening in nearly every country and is therefore increasing on a world scale. As a result, the report warns: “Where rising inequality is not properly addressed, it leads to all manner of political and social catastrophes”—i.e., revolution.
The current share of total wealth controlled by the top 1 percent is 33 percent, up from 28 percent in 1980—a shift that reflects the transfer of trillions from the working class to the rich. The top 10 percent of the world now owns over 70 percent of total wealth. The bottom half of the world’s population—3.5 billion people—owns less than 2 percent of the wealth.
In terms of income, the top 1 percent captured 23 percent of world income from 1980 to 2016—equal to the total captured by the bottom 60 percent. The top 0.1 percent captured as much income as the bottom half of the world’s population.
After decreasing for most of the twentieth century, the income and wealth share of the top 10 and top 1 percent has increased dramatically since the 1980s:
If the world’s billionaires continue increasing their wealth at the present rate, they will eventually “own 100 percent of the world’s wealth.”

Growth of the international working class and homogenization of incomes across continents

Alongside the growth of inequality, the income levels for the poorest half of the world have increased substantially. This shows that billions of people have entered the working class in recent decades, leaving behind a rural existence as globalization has rapidly transformed social relations in the former colonial countries.
The greatest transformation has taken place in China, where the population took just 3 percent of global income in 1980, but now takes 19 percent—surpassing both North America (17 percent) and Europe (17 percent). Income distribution by region is much more even than in past decades, with India increasing its share of world income to 7 percent, Japan declining to 4 percent, and the rest of Asia increasing to 18 percent. Africa and Latin America take only 5 and 8 percent of world income, respectively.
The industrialization of the former colonial countries (especially across Asia) coincides with a decline of income among the 60th to 90th percentiles, a group mostly comprised of the working class in the United States and Europe. Incomes between the 60th and 90th percentiles were stagnant, increasing less than 50 percent over a 36-year period. The conditions and incomes of workers across the world are becoming increasingly homogenized.
For example, from 1950 to 2016, the average income of a resident of Asia was 34 percent of the world average. By 2016, the average resident of Asia made 79 percent of the world average. For China alone, the figure increased from 15 percent in 1950 to 89 percent in 2016.
The same figure declined in Africa, where the average resident’s income was 64 percent of the world average in 1950 but just 41 percent in 2016. In Latin America, the figure also declined from 140 percent to 91 percent. The average income of a resident of Europe or the United States has declined substantially and is much closer to the world average than in previous decades.
This shows that as the working class grows numerically and becomes increasingly interconnected in the world process of production, the conditions and incomes of workers across the world become increasingly homogenized.

Impact of the Russian Revolution and dissolution of the Soviet Union on world inequality

The growth of inequality and divergent rates of income growth are the product not simply of abstract objective processes. They are the outcome of the development of the class struggle over the last century.
The report notes that the Russian Revolution of 1917 dramatically reduced social inequality on a world scale.
The revolution shook the world. The report notes, “In emerging economies, political and social shocks led to an even more radical reduction of income inequality. The abolition of private property in Russia, land redistribution, massive investments in public education, and strict government control over the economy via five-year plans effectively spread the benefits of growth from the early 1920s to the 1970s.” Further, “For most of the global population, the first three-quarters of the twentieth century corresponded to a very strong compression in the distribution of national incomes.”
In India, for example, “the top percentile income share decreased from around 20 percent at the end of the colonial period to 6 percent in the early 1980s, after four decades of socialist-inspired policies aimed at reducing the economic power of the elite, including nationalizations, government control over prices, and extreme tax rates on top incomes.” In China, inequality was drastically reduced as a result of the expropriations and nationalizations that followed the 1949 Chinese Revolution.
But the dissolution of the Soviet Union by the imperialist powers and the Stalinist bureaucracy “contributed to strong increases in top percentile income shares” across the world. In Russia, the top 1 percent now controls 20 percent of income—equal to the distribution under the Tsar. In India, the top 1 percent controls 22 percent of income, worse than under English colonial rule.
In China, the pro-market reforms implemented by the Stalinist bureaucracy beginning in the late 1970s produced a more drawn-out growth in inequality. While the bottom 50 and top 10 percent took equal shares of national income in 1978, the top 10 percent now takes nearly three times that of the bottom 50 percent.
In Russia itself, the reintroduction of private property “resulted in massive redistribution and impoverishment for millions of Russian households, particularly among the retired populations. The share of national income accruing to the bottom 50 percent collapsed, dropping from about 30 percent of total income in 1990-1991 to less than 10 percent in 1996.”
Since the dissolution of the Soviet Union, inequality has risen to levels almost approaching the extreme inequality of the United States.

The rise of oligarchy in the US

In no country in the world does the ruling class possess as much wealth as in the United States, the center of world imperialism.
Europe’s top 1 percent increased its income share from 10 percent in 1980 to 12 percent in 2016. In the US, however, the top 1 percent increased from the same figure—10 percent in 1980—to 20 percent today.
The wealth share of the top 10 percent has increased from 63 percent in 1985 to 77 percent today. But even this masks the massive accumulation of wealth at the very top. The wealth share of the “next 9 percent” has declined relative to that of the top 1 percent.
High levels of inequality dominate even within the top 1 percent: “The rise in wealth share of the top 1 percent itself owes almost all of its increase to the growth of the top 0.1 percent share, which rose from 7 percent to 22 percent” from 1986 to 2012. The top 0.1 percent now owns as much wealth as the bottom 90 percent. “The average real wealth of the bottom 90 percent of families was no higher in 2012 than in 1986.”
The wealth and income of the “next 9 percent” below the top 1 percent has increased dramatically in absolute terms, from an average income of $586,060 in 1980 to $1.14 million in 2014, while the bottom 90 percent has seen its wealth stagnate or decline.

The inability of governments to respond to social grievances or economic crises

The report also charts the growth of private capital and the decline of public capital over the decades. The process of privatization has taken place across almost all countries and shows the domination of private transnational corporations over the world’s economic activity.
The report notes: “The domination of private wealth in national wealth represents a marked change from the situation which prevailed in the 1970s, when net public wealth was typically between 50 percent and 100 percent of national income in most developed countries (and over 100 percent in Germany).”
Private wealth to national income ratios are “returning to the high values observed in the late 19th century”—i.e., the gilded age of unregulated capitalist exploitation. The report’s authors conclude, “Today, with either small or negative net public wealth, the governments of developed countries are arguably limited in their ability to intervene in the economy, redistribute income, and mitigate rising inequality.”
This finding contradicts the study’s policy recommendations, which appeal to the governments to pare back austerity measures and increase spending on social programs. By the authors’ own admission, the governments have transferred so much of the state resources to the balance sheets of the billionaires and millionaires that they lack the resources to carry out the massive expenditures required to respond to future economic crises or improve the lives of billions of workers and poor people worldwide.


The report shows the objective basis for revolutionary optimism. The size of the working class has grown massively, especially in Asia. Globalization has brought the working class together into the same process of production, leading to a leveling in its conditions. Increasingly connected by social media and the Internet, there is every indication that the class struggle will be increasingly international not only in its content, but also in its form. For this reason, the capitalist governments of the world are seeking to censor the Internet and prevent workers from using social media as a platform for political organization.
The report is also proof of the necessity of social revolution. The governments are so dominated by the oligarchs in their respective countries that they are economically unable to respond to economic crisis or the needs of the working class. Only social revolution—with nationalizations, expropriation of the wealth of the world aristocracy, and the redistribution of the wealth to meet the needs of the human race—is capable of wiping inequality and poverty off the face of the earth.

Paul Ryan’s Globalist Legacy: Ignoring America’s Working Class at the Behest of Billionaire Koch Brothers

As House Speaker Paul Ryan (R-WI) announced that he will retire from public office after his last term in the House, the leader of the globalist wing of the Republican Party is set to leave behind a legacy that ignored America’s working and middle class, while serving up an agenda favored by billionaires Charles and David Koch.

This year — days after Ryan successfully prioritized tax cuts ahead of President Trump’s popular immigration reduction agenda — the Koch brothers donated about half a million to Ryan’s campaign committee.
Ryan’s brand of Republicanism is reliant on pushing unpopular tax and entitlement reform agendas, as when, in 2016, the House Speaker told American workers that tax cuts — not penalties for multinational corporations — were necessary to stop the massive outsourcing of U.S. jobs to third world nations.
The Koch brothers, staunch advocates of mass immigration, geared up alongside Ryan’s tax cuts and the two have marched in lockstep together opposing Trump’s populist fair trade agenda, where he has placed tariffs on steel and aluminum imports, as well as on Chinese imports, to help rebuild America’s depleted manufacturing base.
Charles Koch most recently said that he and his brother’s network of organizations were “working hard against” Trump’s trade agenda.
“We’re working hard against all these other protectionist trade barriers that are just different forms of corporate welfare which, other than a few special interests, will make Americans worse off,” Koch said.
Ryan, like the Koch brothers, came out of the gate opposing Trump’s fair trade agenda, denouncing the plan by saying he was “extremely worried” about a mainstream media-hyped “trade war.”
Wisconsin voters, Ryan’s constituents, have been opposed to the House Speaker’s free trade as religion, with a majority telling pollsters in 2016 that free trade was responsible for taking U.S. jobs away from them. The poll revealed that only 33 percent of Republican voters said free trade creates jobs in the U.S.

President Barack Obama shakes hands with Speaker of the House Paul Ryan (R) as Vice President Joe Biden looks on before the State of the Union address to a joint session of Congress on Capitol Hill January 12, 2016 in Washington, D.C. In his final State of the Union, President Obama is expected to reflect on the past seven years in office and speak on topics including climate change, gun control, immigration and income inequality. (Photo by Evan Vucci – Pool/Getty Images)
Meanwhile, Ryan has credited his tax cuts for Trump’s economic success. Republican voters, though, have repeatedly said that tax reform is not a priority for them. The biggest priority for GOP voters, month after month? Reducing immigration, an initiative supported by Trump but opposed by Ryan and the Koch brothers.
In the latest Harvard-Harris poll, 42 percent of Republican voters said immigration was the most important issue facing the country. The same amount of Republicans said national security, too, is the most important issue.
Meanwhile, only 25 percent of Republican voters said the national debt was the biggest issue in the country, while only 12 percent of Republicans said the same of taxes.
Reducing immigration was a bigger priority for GOP voters than tax cuts, repealing Obamacare, getting the U.S. out of the Iran Deal, destroying ISIS, and expanding family leave.
Immigration is so important to Republicans that it even surpasses the economy and jobs as being the biggest issue.
Supporters of President Trump’s say reducing immigration should be the second biggest priority for the White House, just after stimulating American jobs.
Nonetheless, the Koch brothers have remained opposed to cutting the current inflow of low-skilled foreign nationals to the country, where more than 1.5 million illegal and legal immigrants enter the U.S. every year.
Ryan, too, has opposed cutting legal immigration levels, favoring the Washington, D.C.-imposed cheap labor economic model where businesses import foreign workers to compete with American workers at low wages.
The opposition to reducing legal immigration, though, is not in-line with Ryan’s constituents’ views on immigration, For example, most recent polling shows that a plurality of Wisconsin voters wants legal immigration cut in at least half.
Even in Ryan’s retirement announcement, he did not mention any plans for the Republican-controlled House to push Trump’s popular agenda of immigration reduction. Instead, Ryan said he would “keep at it” on trying to cut entitlements for Americans as foreigners continue pouring into the country.

Paul Ryan just doubled down on cutting Medicaid, Medicare and Social Security. "The House passed the biggest entitlement reform bill Congress has ever considered last year, so we're just going to have to keep at it on entitlements."

With Ryan’s agenda to push entitlement reform just ahead of the 2018 midterm elections, the Koch brothers are investing up to $400 million in trying to get globalist-friendly GOP candidates elected to Congress who will vote to continue mass immigration to the U.S. About $20 million of the Koch funding will go towards selling Ryan’s tax reform.
Ryan’s tax cuts, while getting more money back in the pockets of Americans, does not have a lasting impact on voters. Last month, 50 percent of swing voters told pollsters that the tax reform legislation would have “no impact” on their decision as to whom to vote for. Immigration, for swing-voters, remains more important to their midterm election vote than tax reform.
Still, Ryan’s control of the House has put the Trump administration in a bind when it comes to pushing their popular immigration reform agenda, which not only includes reducing immigration, but building a wall along the U.S.-Mexico border and ending the Diversity Visa Lottery program which imports 50,000 random foreign nationals every year.
In the most recent spending bill, signed by Trump, Ryan worked with Democrats to expand the number of low-wage foreign workers entering the U.S. for the big business lobby. The spending bill also did not include any border wall fundingincreased the “Catch and Release” program that allows illegal aliens to be released into the interior of the U.S., and did not add any new deportation agents to help deport illegal aliens living across America.
Trump, though he signed the spending bill, called it a “ridiculous situation” – a blow to Ryan’s speakership.
The Koch brothers’ biggest critique of the spending bill, unsurprisingly, was that it did not include amnesty for illegal aliens.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.

Enemy of the American Worker, Speaker Paul Ryan Will Not Run for Re-Election

House Speaker Paul Ryan told Republicans that will not run for re-election, according to his senior adviser Brendan Buck.

“This morning Speaker Ryan shared with his colleagues that this will be his last year as a member of the House,” Buck said in a statement to reporters. He confirmed that Ryan would serve out his full term and retire in January.
“After nearly twenty years in the House, the speaker is proud of all that has been accomplished and is ready to devote more of his time to being a husband and a father,” Buck continued.
A press conference is scheduled for 10:00 a.m. Wednesday.
The news was first reported by Axios on Wednesday, citing sources close to Ryan who say the speaker is concerned about Republicans losing the House of Representatives in the November mid-terms and does not want to serve as minority leader.
House Majority Leader Kevin McCarthy may be considered as the next Congressman to lead Republicans or House Majority Whip Steve Scalise — both of whom enjoy a good relationship with President Donald Trump.
On Fox News, Scalise described the reports about Ryan as just “a lot of speculation” but confirmed that the Speaker would make an announcement later on Wednesday.
Ryan’s announcement comes after he has raised over $54 million from donors for the Republican 2018 midterm elections.

9 Times Paul Ryan Put American Workers Last, Foreigners First

House Speaker Paul Ryan (R-WI) has announced that he will retire from Congress at the end of his term, leaving the door open for an economic nationalist Republican to take over as Speaker.

Here, Breitbart News looks at Ryan’s pro-immigration, wage-crushing, big business-first record, whereby American workers have been left behind by multinational free trade and mass immigration.
1. Ryan’s Mass Immigration-Packed Omnibus of 2018
This year, Ryan sent President Trump a spending bill that was packed with goodies for big business interests and the open borders lobby. The omnibus spending bill allows the Department of Homeland Security (DHS) to expand the H-2B visa program, whereby low-skilled nonagricultural foreign workers are imported to take blue-collar and working-class U.S. jobs.
Ryan’s spending bill also did not include any border wall funding, while increasing the “Catch and Release” program that allows illegal aliens to be released into the interior of the U.S. Neither did it add any new deportation agents to help deport illegal aliens living across America.
2. Ryan’s Opposition to Trump’s Pro-American Worker Tariffs
When Trump announced he would place tariffs on steel and aluminum imports to help rebuild America’s manufacturing base, which has been devastated by free trade deals like NAFTA and KORUS, Ryan immediately began spouting his opposition to the pro-American worker initiative.
“I think the smarter way to go is to make it more surgical and more targeted,” Ryan said. [Emphasis added]
“What we’re encouraging the administration to do is to focus on what is clearly a legitimate problem and to be more surgical in its approach so that we can go after the true abusers without creating any kind of unintended consequences or collateral damage,” Ryan continued. [Emphasis added]

NEW: Speaker Paul Ryan, who has been critical on Pres. Trump's tariffs announcement: "There is clearly abuse occurring...I think the smarter way to go is to make it more surgical and more targeted." 

Meanwhile, American workers thanked Trump for placing the tariffs on imports, noting how free trade had come at the expense of their manufacturing jobs, as Breitbart Newsnoted.
3. Ryan Using Nikki Haley to Trash Trump’s Popular Immigration Reform Agenda
Breitbart News’ Neil Munro reported in 2016:
House Speaker Paul Ryan used President Barack Obama’s final State of The Union speech to trash Donald Trump’s popular pro-American immigration platform — and to call for a radical, wage-cutting, open-borders plan.
The hit was delivered via the GOP response-speech, presented by South Carolina Governor Nikki Haley. Her speech — which was almost certainly approved by Ryan — dumped on Trump and touts Ryan’s preference for a “any willing worker” economy.
That “any willing worker” term is used to describe nationwide employment rules which would allow any employer to hire any willing foreign workers if American workers decline to take the jobs because the offered wages are too low. President George. W. Bush worked with GOP leaders to push those rules in 2006 and 2007, but saw his poll ratings crash and his plans defeated.
4. Ryan’s Attempt to Slip Amnesty for Illegal Aliens into Year-End Spending Bill
Last year, Ryan attempted to slip an amnesty for illegal aliens into a year-end spending bill, a move that would have attempted to force an amnesty at the expense of American workers or have the federal government shut down.
Just as Trump’s labor market was tightening at the end of the year, securing historic wage gains for America’s workers, Ryan’s amnesty plan would have crushed those salary increases, giving big business an immediate new flow of cheap, foreign workers.
Ryan’s failed secret plan to attach amnesty to the spending bill came less than a month after Breitbart News confirmed that a DACA recipient allegedly murdered a high school student in South Carolina.
5. Ryan’s Refusal to Cut Legal Immigration to Raise American Workers’ Wages
This year, Ryan made a rhetorical shift when he announced that he, like Trump, supports a merit-based immigration system. But, the system Ryan supports does not include actual reductions to legal immigration levels, wherein the U.S. imports more than 1.5 million legal and illegal immigrants every year.
Instead, Ryan prefers to keep importing millions of foreign nationals every year, but through a merit-based system – a plan that would not raise American workers’ wages, as it would continue flooding the U.S. labor market at the benefit of big business.
Meanwhile, when pro-American immigration Republicans asked Ryan to promote legislation that reduced legal immigration to the U.S., he refused to help the initiative, allowing it to die in the House despite its popularity among the American public and Republican voters.
6. Ryan’s Shooting Down of the RAISE Act
In 2017, there was no legislation that encompassed more of Trump’s economic nationalist agenda than Sen. Tom Cotton’s (R-AR) “RAISE Act,” which would have cut legal immigration in half, delivering wage increases for American workers, but also reducing the foreign competition that U.S. workers have had to endure.
From the beginning of the rollout of the RAISE Act, Ryan opposed the plan, favoring the current Washington, D.C.-imposed cheap labor economic model.
“I just think arbitrary cuts to legal immigration don’t take into effect the economy’s needs as the boomers are retiring,” Ryan told the Milwaukee Journal Sentinel. “With baby boomers leaving the workforce, we’re still going to have labor shortages in certain areas and that is where a well-reformed legal immigration system should be able to make up the difference.”
7. Ryan Defending Globalization to American Workers
Breitbart News Political Editor Matt Boyle reported in 2016:
House Speaker Paul Ryan headed to friendly territory in his home district — Wisconsin’s first, which most in state politics expect him to win — to campaign for the final day before blue collar voters who will determine his fate.
But perhaps more importantly than that—Ryan shoring up what is supposed to be his base—Ryan was forced by workers in the two Wisconsin factories he visited on Monday to answer for globalization.
In addition to pushing his “A Better Way,” agenda which has come under fire during the primary, Ryan made a direct pitch that the way to keep jobs in America—to prevent outsourcing—is to do tax reform. Ryan said:
This business is taxed at the personal level, so their top tax rate here is 44.6 percent. You know what the companies doing this in other countries are taxed at, like the Canadian companies that produce the same kind of stuff? They’re taxed at 15 percent. China is at 25. Ireland is 12.5. England is 15. The average in the world is about 23. So when we tax our American made products, our American manufacturers much higher tax rates than our foreign competitors are taxing theirs, they immediately lose. So one of the things we are trying to do is make it so we are in a better position to keep jobs here in America, to keep manufacturing here. So we have proposed a complete overhaul of our tax system to number one get those tax rates down to about the average, 25 [percent]. Number two, we want to give businesses the incentive to hire more people and to build more buildings and to buy more machines.
8. Ryan Squeezing More Imported Foreign Workers Out of Trump Administration
Last year, Ryan was effective in squeezing an additional 15,000 imported, cheap foreign workers for his big business donors out of Trump’s DHS chief at the time, Gen. John Kelly. The H-2B visa, which the foreign workers use to enter the U.S., has proven to be used as a cheap labor visa whereby businesses can readily import low-wage workers rather than having to find American workers to hire.
9. Ryan Falsely Claiming He Passed Legislation to Pause Somali Refugee Program
Breitbart News’ Julia Hahn reported in 2016:
During the interview, O’Reilly criticized Ryan for failing to message on immigration controls and asked Ryan specifically about the Somali refugee crisis in Minnesota.
O’Reilly: “We have a Somali problem up in Minneapolis-St. Paul. [We] have a problem there and those are refugees from Somalia. And if, God forbid, some refugee comes in and blows people up, it’s going to be grisly.”
Ryan replied by explaining that he passed a bill to pause the refugee program. Ryan said: “Right. Right. That’s why– just so you know that’s why we passed a bill pausing this refugee program, because we don’t think the refugee program works. That’s why we don’t want it to continue right now.”
However, Ryan did no such thing. The bill Ryan championed did not in any way pause the Somali refugee program– it applied solely to refugees from Syria and Iraq.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.

Washington Times: ‘Secret Empires’ Revelations ‘Shocking, Startling, Stunning–and Sickening’



The Washington Times’ Fred J. Eckert reviews the new book Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends by Government Accountability Institute President and Breitbart Senior Editor-at-Large Peter Schweizer.

The astonishing widespread massive corruption of some of the biggest names in American politics that Peter Schweizer reveals in his new blockbuster expose is shocking, startling, stunning — and sickening.
“Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends” is an insightful and extraordinarily consequential book that should ignite a national uproar.
Don’t hold your breath. Our national media can be expected to do all in its power to suppress the possibility of any uproar — even when the corruption is this vast. It’s what they’re best at — covering up their own malfeasance and protecting politicians with whose ideology they’ve allied themselves.
One of the biggest scandals in American history was swirling around us. Leading U.S. government figures were embracing corruption. Foreign governments were colluding with American sleazes to hurt our country. Family and friends of these key political figures conspired as middlemen between foreign interests seeking influence and these enormously influential U.S. government officials.
Read the rest here.

World's richest one per cent are on track to own two thirds of global wealth by the year 2030

·         If financial trends continue as they are the top 1% will own 64% of global wealth
·         Shocking figures show world's riches will amount to £216.5trillion by year 2030
·         Experts claim disparity is the result of extra savings being made by the wealthy
PUBLISHED: 16:42 EDT, 7 April 2018 | UPDATED: 16:52 EDT, 7 April 2018

The world's richest one per cent are on track to own two thirds of global wealth by 2030.
New figures from the House of Commons library show shocking levels of income inequality if financial trends continue in the way they have done since the 2008 crash.
Statistics reveal the top one per cent will account for 64 per cent of global wealth, which will total £216.5trillion in 12 years time - £99trillion higher than it is today.
They also show the richest one per cent has been growing much faster than it has previously, at an average of six per cent a year.  
New figures from the House of Commons library show the world's richest one per cent are on track to own two thirds of global wealth by 2030
Experts believe increasing disparity will come as a result of higher saving rates among the wealthy and the accumulation of stocks and other assets, which bring disproportionate benefits, reports The Guardian
A survey carried out by consultants Opinium shows UK voters are increasingly concerned by how much power the world's richest have.
It showed 34 per cent of those surveyed believe the super rich will yield the most power in 12 years time, while 28 per cent thought it would be national governments.


The poll also revealed fears disparity will lead to increasing corruption, as the top one per cent take over politicians as the most influential on the global stage.
It was commissioned by former Labour cabinet minister Liam Byrne, as MPs, academics, business leaders and trade unions club together to take on growing inequality.
Mr Byrne wants to put pressure on G20 leaders after declaring global inequality is 'at tipping point'.  
Actor Michael Sheen is also backing the calls, after taking a step back from his Hollywood career to campaign against credit providers. 
Statistics reveal the top one per cent will account for 64 per cent of global wealth, which will total £216.5trillion in 12 years time - £99trillion higher than it is today



Nancy Pelosi triples her loot since the banksters nearly destroyed America’s economy and demands endless hordes of illegals to keep wages depressed!

Pelosi: ‘Wealthiest 1% Continue to Hoard the Benefits of the U.S. Economy’

By Staff | April 6, 2018 | 4:13 PM EDT
House Minority Leader Nancy Pelosi (Screen Capture)
( - House Minority Leader Nancy Pelosi (D.-Calif.) said today that the jobs report for March, which showed unemployment holding at 4.1 percent, indicates that “the wealthiest 1 percent continue to hoard the benefits of the U.S. economy.”

"Democrats will never stop fighting for the hard-working middle class families who are the backbone of our nation," Pelosi said.

Here is Pelosi’s statement following the release of the March jobs report by the Bureau of Labor Statistics:
“March’s disappointing jobs report shows that corporations and the wealthiest 1 percent continue to hoard the benefits of the U.S. economy. Powerful special interests are reaping massive windfalls from the GOP tax scam, while workers are denied the raises and good-paying jobs they deserve.
“From the start, the White House and Republicans in Congress have put themselves and their rich donors first, and the American people last. Corporations are cheering their huge new tax breaks by enriching their executives and investors, while hard-working men and women see little help and rising health costs.
“Democrats are fighting to give the American people a better deal, with better jobs, better wages and a better future. We are committed to creating millions of new good-paying jobs and raising wages, lowering the soaring cost of living for families and giving every American the tools to succeed in the 21st Century economy. Democrats will never stop fighting for the hard-working middle class families who are the backbone of our nation.”

NANCY PELOSI, and her LA RAZA SISTERS, SEN. DIANNE FEINSTEIN, FORMER SEN. BARBARA BOXER and NOW SEN. KAMALA HARRIS are a pantheon of staggering self-serving corruption.

They and their families have all gotten filthy rich off of these women’s elected office.

Their endless hispandering for the illegals’ votes has turned California into Mexifornia, a drug, gang and anchor baby welfare third-world dumpster!

“Liberal governing has transformed beautiful California into the poverty capital of America with the worst quality of life.  Crazy taxes, crazy high cost of living, and crazy overreaching regulations have crushed the middle class, forcing the middle class to exit the Sunshine State.  All that is left in California are illegals feeding at the breast of the state, rapidly growing massive homeless tent cities, and the mega-rich.” LLOYD MARCUS

Pelosi - Illegals - Sunkist - Her investments!
Pelosi's corrupt insider passing of bills that make her rich.
Check for yourself
Speaker of the House Nancy Pelosi's home House District includes San Francisco.
Star-Kist Tuna's headquarters are in San Francisco, Pelosi's home district.
Star-Kist is owned by Del Monte Foods and is a major contributor to Pelosi.
Star-Kist is the major employer in American Samoa employing 75% of the Samoan workforce.
Paul Pelosi, Nancy's husband, owns $17 million dollars of Star-Kist stock.
In January, 2007 when the minimum wage was increased from $5.15 to $7.25, Pelosi had American Samoa exempted from the increase so Del Monte would not have to pay the higher wage. This would make Del Monte products less expensive than their competition's.
Last week when the huge bailout bill was passed, Pelosi added an earmark to the final bill adding $33 million dollars for an "economic development credit in American Samoa".
Pelosi has called the Bush Administration "corrupt".
Check some more for yourself

No comments: