Saturday, November 23, 2019

BIDEN, HUNTER BIDEN'S PARTNER IN CRIME, ADMONISHES SENATORS TO FOLLOW RULES - WHO FOLLOWED THE "RULES" WHEN OBOMB WAS SABOTAGING AMERICA'S BORDERS AND SERVICING HIS CRONY BANKSTERS.... AND THEN THERE IS PAY-TO-PLAY HILLARY


They Destroyed Our Country
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.)

We are talking about the Clintons, Pelosi, Reid, Schumer, Frank, Wasserman-Schultz, Biden, Leahy, Durbin, Murray, Kennedy, Hagel, Kerry, Dodd, Hoyer, Baucus, and many others.

They all knew Obama was an empty suit; yet for private gain and personal advancement, they trampled on the flag, betraying the very people they claim to serve, preferring Party to principle. During the 2008 campaign, they said he was unqualified, ill-prepared, and unsuited for the office. Yet when his crooked ways carved out primary victory, they jumped on board the Ship of Fools, stoking his engine with lies, deception, and propaganda. Hillary knew he stole victory; but like a good Party operative, she buttoned her lip and took orders, submitting to authority and covering criminality.

The Ship of Fools also carried members of the 'progressive' propaganda press, people who made it a full time job to promote the Democrat agenda and the joke called the Obama Administration: Chris Matthews, Rather, Maddow, Schultz, Olbermann, Moyers, Sullivan, Friedman, Huffington, Sharpton, and Krugman and legions of others.

They banded together with the likes of Bill Ayers, Jeremiah Wright, George Soros, Saul Alinsky, Khalid Al-Mansour, Rashid Khalidi, and legions of other radical Islamists, communists, and assorted America-haters. Embarrassingly, many Republicans and so-called conservatives either helped the farce along or were used as pawns in the promotion of the hoax. But the greatest disgrace of all were evangelicals. Through sloth or ignorance, they either voted for the poser or stayed at home on election day.
And what progress have the "progressives" delivered?
A ruined economy.
Insurmountable debt.
Bankruptcy.
Record numbers on disability and food stamps, a dependency class mushrooming out of control.
Federal despotism.
Domestic chaos, violence, and deepening divisions.
Systemic demoralization.
Emboldened enemies.
Erosion of constitutional protections.
Looming tyranny.
Loss of global standing.
...AND SABOTAGED OUR BORDERS WITH NARCOMEX TO BUILD THE LA RAZA DEM PARTY of ILLEGALS!
Now, with whistleblowers finally getting an ear on The Hill and in the media, we are learning the truth about Benghazi. We are seeing the end of Obama as a consequence; but, even if he exits, the disease remains.

They knew he was a catastrophe. They knew ObamaCare was a train wreck. They knew. Yet they proceeded, and they may have destroyed our country. For that, they can never be forgiven.
ALLAN ERICKSON

Allan Erickson enjoyed an 11-year career in radio, television and print journalism as a reporter, talk show host, and operations manager. He then turned to sales and marketing for a decade. Twelve years ago he started a training and recruitment company. Allan & wife Jodi have four children and live in California. He is the author of the book "The Cross & the Constitution in the Age of Incoherence," Tate Publishing, 2012, and his columns appear in www.ClashDaily.com and www.WesternJournalism.com. He is available to speak in churches addressing the topics of faith and freedom. To contact him, email: allanlerickson @ gmail.com




Biden: I Hope Senators Trying Trump Realize They’ll Go Down in History as to Whether They Followed Rules

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During an interview broadcast on Friday’s “CNN Tonight,” 2020 Democratic presidential candidate former Vice President Joe Biden stated that he believes President Trump should be impeached and that he hopes the Senate remembers “this is a moment when their record is going to go down in history as to whether they played it by the rules.”
Biden said there is “no doubt” President Trump “has asked foreign countries to interfere in our electoral process,” and it’s “a violation of the Constitution to do that.”
He added, “I believe he should be impeached, and have the Senate try whether or not they are high crimes and misdemeanors that would cause him to be thrown out of office. That’s a decision for them to make. I hope they have the courage — I hope they remember, this is a moment when their record is going to go down in history as to whether they played it by the rules.”
Follow Ian Hanchett on Twitter @IanHanchett


Katie Pavlich's Latest Books, Fast and Furious: Barack Obama's Bloodiest Scandal and the Shameless Cover-Up are available on Amazon
FOR EIGHT YEARS BARACK OBAMA AND ERIC HOLDER SABOTAGED HOMELAND SECURITY TO EASE MORE MEXICANS OVER OUR BORDERS AND INTO OUR JOBS AND VOTING BOOTHS.

OBAMA NEEDED THESE ILLEGALS TO FINISH OFF THE AMERICAN MIDDLE CLASS, WHAT WAS LEFT OF THEM AFTER OBAMA'S CRONY BANKSTERS' PLUNDER.


“The watchdogs at Judicial Watch discovered documents that reveal how the Obama administration's close coordination with the Mexican government entices Mexicans to hop over the fence and on to the American dole.”  Washington Times

  

 

When Obama Tried to 'Red Flag' Vets and Seniors

We saw the presumption of innocence under assault during the confirmation hearings for Supreme Court justice Brett Kavanaugh and it is once again under assault with the consideration of so-called “red flag” laws after the mass shootings in Dayton and El Paso.  These laws would allow authorities to disarm law-abiding citizens on the basis that it had been somehow determined that they are an “unstable threat” to themselves and to society.
This determination can be made based on reports from vengeful former spouses, ex-girlfriends and boyfriends,  former coworkers, hostile neighbors, just about anybody with a grievance, even by government agencies pushing a gun-control agenda.
We are assured that the gun owner guilty of no crime can pursue what is laughingly called “due process” and petition the judge to have his legally purchased firearm returned to him by proving to a judge he is not crazy or dangerous. Just how do you do that, pray tell? And just how can a state have a “red flag” law anyway, infringing on a federal and national right established by the Second Amendment to the U.S. Constitution which says the right to keep and bear arms shall not be infringed? Which part of “shall not be infringed” do red flag law advocates not understand?
As noted at NewsTarget:
That’s a process that could take weeks or even months, and in the meantime, you and your family are left defenseless to the world. Plus, there is no guarantee that a court will find that you’re not a threat and authorize police to give you back your guns; maybe the judge is a judicial activist who hates the Second Amendment on principle.
Red Flag laws are unconstitutional “prior restraint” laws that violate our basic civil rights. What's particularly alarming is that to take away a person's Second Amendment rights, such laws violate the protections found in the Fourth, Fifth, and Sixth Amendments to the U.S. Constitution! And all of that based on an unnamed person's secret allegation that someone else “might” do something dangerous to themselves or others in the future…
The person accused of being “dangerous” has no notice there is a problem until the police show up, pre-dawn, with guns drawn and confiscate the accused's firearms [we have already had on gun owner killed in this exact scenario]. The accused is not given due process to defend himself or herself in court from the accusation for weeks or months after the confiscation. It is up to the accused to prove that he or she is not dangerous! Until such proof is provided to the Court's satisfaction, the guns are not returned. This could drag on for months, years, or indefinitely!
Sadly, even Second Amendment supporter President Donald J. Trump has entertained the idea of such laws, notwithstanding their threat to the Constitution, Second Amendment, and the presumption of innocence. This isn’t the first time gun-control advocates have tried to use “red flags” to disarm the law-abiding.  
El Paso and Dayton are part of a series of shootings blamed on guns and not on the undeniable presence of both evil and mental illness in the world. No one advocates that the mentally ill should be able to legally buy a gun, but the effort should be on reporting, flagging, and institutionalizing these unfortunates, not on disarming the law-abiding.
The Obama administration has already tried to use mental health as a means, not to make us safer, but to deny us our gun rights under the Second Amendment. Obama selected Dr. Vivek Murthy to be our Surgeon General, someone who firmly believed that gun control is a health issue, a means to gut our Second Amendment rights. As Investor’s Business Daily editorialized during his confirmation process:
The 37-year-old Murthy is president and co-founder of the anti-gun group Doctors for America, which advocates ObamaCare and gun control laws. His group, which has been dubbed Docs vs. Glocks, has pushed Congress to ban "assault" weapons and "high capacity" magazines.
Doctors for America has promoted the invasion of privacy by doctors by advocating they ask patients if they have guns at home, including asking children if their parents own guns. He would have doctors counsel their patients against exercising their Second Amendment rights. One wonders how private that information would remain if entered into the medical records the government would be privy to under ObamaCare.
Back in 2013, a piece of legislation called Toomey-Manchin proposed that doctors be allowed to unilaterally place a patient’s name in the background check system in a way that violated patient doctor confidentially as well as our Second Amendment Rights:
The Toomey-Manchin proposal contains a provision that lets a doctor add a patient to the National Instant Criminal Background Check System (NICS) without ever telling the patient he or she has been added.
This would seem to violate doctor-patient confidentiality, due process and the presumption of innocence in one fell swoop.
As the Heritage Foundation reports, this "gun control legislation eliminates any (Health Insurance Portability and Accountability Act) privacy protection for mental health records in connection with the NICS system, leaving only what privacy protection the attorney general cares to provide."
The Obama administration’s idea of keeping guns out of the hands of the mentally ill was based on a bizarre and discriminatory definition of who might be mentally unstable. In 2013 it was reported that the Veterans Administration was sending letters to vets warning them that they might be declared mentally incompetent and denied their Second Amendment rights unless they could prove otherwise:
The contempt by the Obama administration for our Constitution and our rights has reached a new low with news the Veterans Administration has begun sending letters to veterans telling them they will be declared mentally incompetent and stripped of the Second Amendment rights unless they can prove to unnamed bureaucrats to the contrary…
"A determination of incompetency will prohibit you from purchasing, possessing, receiving, or transporting a firearm or ammunition. If you knowingly violate any of these prohibitions, you may be fined, imprisoned, or both pursuant to the Brady Handgun Violence Prevention Act, Pub.L.No. 103-159, as implemented at 18, United States Code 924(a)(2)," the letter reads…
While mental health is a factor in the current gun control debate and recent mass shootings in Newtown, Conn., and Aurora, Colo., and elsewhere have in common the questionable mental state of the shooters, to single out returning vets from Iraq and Afghanistan this way is unconscionable and unconstitutional.
As the Los Angeles Times has reported, the Obama administration would have liked like to make our Social Security records part of the background check system. The move would have stripped some four million Americans who receive payments though a “representative payee” of their gun rights. It would be the largest gun grab in U.S. history.
A potentially large group within Social Security are people who, in the language of federal gun laws, are unable to manage their own affairs due to "marked subnormal intelligence, or mental illness, incompetency, condition, or disease."
There is no simple way to identify that group, but a strategy used by the Department of Veterans Affairs since the creation of the background check system is reporting anyone who has been declared incompetent to manage pension or disability payments and assigned a fiduciary.
Keeping guns out of the hands of the truly mentally unstable is a worthy goal, but it should not be used as a cause for disarming veterans who carried a weapon in defense of their country or seniors who might need some assistance in paying their bills.
They deserve the presumption of innocence, and sanity, every bit as much as Vester Flanagan. Stripping away their Second Amendment rights in the name ofmental health would be a gross injustice that would not make us safer, but would merely create millions of unarmed victims for the next shooter with an agenda.
Daniel John Sobieski is a former editorial writer for Investor’s Business Dailyand freelance writer whose pieces have appeared in Human Events, ReasonMagazine, and the Chicago Sun-Times among other publications.  



The Obamas tackle climate change and wealth inequality

In a remarkable commitment to their tireless fight against climate change and wealth inequality, Barack and Michelle Obama reportedly are purchasing a magnificent $15-million oceanfront mansion in Martha’s Vineyard, presumably as a much-needed retreat to supplement the $9-million mansion they already own in one of the most exclusive areas of the nation’s capitol.  
A fierce opponent of fossil fuels and wealth inequality, the former president has harshly criticized rich people for the oversized, carbon-gluttonous houses they buy.  On April 25, 2010, the president who would become fabulously wealthy in retirement scolded Wall Street CEOs with this admonition:
I do think at a certain point you’ve made enough money.
His views about the sin of making too much money haven’t changed.  During a speech last year in South Africa, this shining example of environmental stewardship and unparalleled concern for the poor spoke passionately about the unfairness of some people having more money than others in blasting rich people for their excessively lavish lifestyles:
There’s only so much you can eat; there’s only so big a house you can have; there’s only so many nice trips you can take. I mean, it’s enough.
That direct quote came from the lips of a man who, along with his wife, is sitting atop a nest egg estimated at a meager $135 million.  But don’t feel sorry for them, because there’s much more to come: with money barreling their way like a runaway train, the concerned couple is rapidly becoming a billion-dollar brand.
Sharing with the less fortunate: During the five years from 2000-2004, a period when they earned $1.2  million, Barack and Michelle Obama donated less than one percent of their income to charity, ten times less than the tithing guidelines of their professed Christian faith.  Only when Obama decided to run for president did the couple’s charitable instincts improve.
Protecting the planet: During his first full day in the White House, President Obama was photographed without his suit jacket.  Senior advisor David Axelrod explained: “He’s from Hawaii, okay?  He likes it warm.  You could grow orchids in there.”  While campaigning, Obama vowed to exhibit environmental leadership if elected: “We can’t drive our SUV’s and eat as much as we want and keep our thermostats set at 72 degrees.  That’s not leadership.  That’s not going to happen [with me].”
In decreeing that rich people make too much money and that global warming is an imminent threat to our very survival, this ultra-wealthy man and his ultra-wealthy wife decided to indulge themselves in another opulent mansion, this one sitting on 29 oceanfront acres on one of the most exclusive islands in the world.  While homeless people are sleeping on the streets and our planet is being destroyed by CO2, the Obamas are living large, a pitifully small reward for two remarkable people who bend over backwards to show leadership in the fight against climate change and wealth inequality.
An electrical engineering graduate of Georgia Tech and now retired, John Eidson is a freelance writer in Atlanta. American Thinker recently published related article of his titled "Harrison Ford, Climate Hypocrite" and "A $600 fill-up?"



HE OBOMBS HAVE ALWAYS LIVED LIKE THE 1% WHOM THEY SERVED AND GROVELED AT THE FEET OF.  

Nolte: Michelle Obama Condemns ‘White Flight’ After Purchasing Home in Martha’s Vineyard


Gerardo Mora/Getty Images
JOHN NOLTE
 31 Oct 2019113
5:28

Former first lady Michelle Obama condemned white people for fleeing minority neighborhoods just weeks after she and her husband purchased a $15 million estate in Martha’s Vineyard.

Martha’s Vineyard is 95 percent white and just two percent black.
Martha’s Vineyard is almost as white as an Elizabeth Warren rally.
Martha’s Vineyard is whiter than my subdivision here in rural North Carolina.
Martha’s Vineyard is whiter than MSNBC.
During a Tuesday appearance at the Obama Foundation Summit in Chicago, she said, “But unbeknownst to us, we grew up in the period — as I write — called ‘white flight.’ That as families like ours, upstanding families like ours … As we moved in, white folks moved out because they were afraid of what our families represented.”
“And I always stop there when I talk about this out in the world because, you know, I want to remind white folks that y’all were running from us.” She went on, “This family with all the values that you’ve read about. You were running from us. And you’re still running, because we’re no different than the immigrant families that are moving in … the families that are coming from other places to try to do better.”

Did I mention that Michelle and Barry just purchased a $15 million estate in Martha’s Vineyard, which is 95 percent white?

Oh, and did I mention the Obamas own a second home, an $8 million mansion, in the exclusive DC neighborhood of Kalorama, which is 80 percent white and just four percent black.

Oh, and did I mention the Obamas have a third home, a $5.3 million mansion, in Rancho Mirage, California, which is 89 percent white and just 2.6 percent black.

Oh, sure, the Obamas still own their Chicago home in Hyde Park, which is at least 26 percent black. But you would think they could do better than 26 percent!

I like Michelle Obama. I have always liked Michelle Obama. I’ve never said an unkind word about her, quite the opposite, and while I find her politics ignorant, she was a terrific first lady.
But this is nuts…
Not only is she attacking white people for seeking a better standard of living, which I can assure you (as I will explain below) has little to do with racism, she is also attacking whites after she herself “fled” to 95 percent white Martha’s Vineyard (I will never stop repeating this point) and two other homes in areas where the black population is less than 5 percent.
Worse still, she is putting white people in a position where they can never win, where they are damned if they do or don’t, where they are always and forever racist.
If white people move out of a black neighborhood, they’re racists engaging in white flight.
But…
And this is important…
If white people move into a minority neighborhood, they are also racists for either engaging in gentrification — which is just another form of cultural genocide, donchaknow — or cultural appropriation.
Now I’m going to tell you a little something about white flight, from my own  experience…
Because I was poor, back in the mid-eighties, I lived in the inner-city of Milwaukee for two years. My wife and I did not flee (my wife is not white, by the way) because of “icky minorities” (did I mention my wife is not white?), we fled because it was not safe to live there. It was never safe. Over those two years, we had been mugged, robbed, and had our car stolen. That’s why we left.
And when we fled, it was to a community that was still not as white as *ahem* Martha’s Vineyard.
In 2002, my wife and I moved to California for nine years and lived in an East Los Angeles neighborhood that was just four percent white. For nearly a decade, I was outnumbered 96-4 and never gave it a thought because I was not outnumbered. A darker skin tone, an accent, and different religious traditions did not make my neighbors any less American than me, and when I am among Americans I am among my own. We left because predominantly white leftists are destroying California.
Then there’s my poor dad…
He moved to the Northside of Milwaukee in 1980, and spent decades, a lot of money, and a ton of sweat, remodeling his home, building a garage, and paying that home off. He intended to retire there. And yes, there were black people in his neighborhood when he moved in, and for most of his adult life he worked in predominantly black institutions. He never intended to move, and held on for as long as he could… He didn’t flee because of black people. He was not forced to start all over at age 67 because he suddenly decided he didn’t like blacks. He left because he was robbed, because gangs started tagging his house and garage, because it was no longer safe to live there.
You know…
If we’re going to shame people for such things, what does it say to black people when other black people, especially the first black president and his family, reject them? What the hell kind of message is this to send to black Americans, especially when the Obamas can afford the security to live safely in any neighborhood they choose?
And if the Obamas wanted to live in Southern California, why choose Rancho Mirage over Ladera Heights, the Black Beverly Hills, a predominantly black neighborhood as swank as any in America?
Shame on Michelle and Barack Obama. They have the money and profile to make an important statement on this issue, but they obviously prefer to live in overwhelmingly white neighborhoods.
Follow John Nolte on Twitter @NolteNCFollow his Facebook Page here.


Diamond Life: Michelle Obama rents out $23-million Hollywood Hills mansion for a night



Apparently, a hotel, even a luxury hotel, was not good enough.
Former first lady Michelle Obama had to go big, renting out a $23-million Hollywood Hills mansion for...a night.  The New York Post has the pictures of it here.  Several news accounts explained it as possibly a rental to try and buy, something most home-buyers don't get to do.  Whether she actually paid is also a big question mark, and if so, whether she paid market value (which would have cost more than a fancy hotel) or received her night there a "gift," which presents its own ethics problems.
The Shark House, which is located in the 9200 block of Swallow Drive, is thus named due to its open air shark aquarium. It also has a full spa, a humidor room, movie theater and walk-in wine room.
It's on the market, currently listed for a cool $22.9 million.
A source told TMZ the Obamas may be looking at real estate in the Hollywood Hills area, but that was not confirmed.
If they're in the market to buy that, they've got a lot more money than the press is reporting.  We know they're loaded.  But not that loaded.  Not Louis XIV loaded, which is about the range for this sort of place.  Or is it a sweetheart deal in the works we're talking about?  Maybe they'll end up buying it for "a dollar."  Don't know yet, but neither possibility makes them look good.
It's all part and parcel of the Obamas' long, luxurious post-presidency, a nonstop vacay that costs taxpayers millions.  It's as though we're financing kings now, not retired presidents.  For a while there, the Obamas were jetting around with billionaires and staying on private islands.  Then they bought that expensive Kalorama mansion in Washington, D.C., all supposedly for the benefit of their daughter Sasha, who was finishing high school.  Surprise, surprise, it actually seems to primarily serve as a political watch post for longtime Obama loyalist and consigliere Valerie Jarrett.  They did some audience tours and hung out with more billionaires.  There were those lucrative Goldman Sachs speeches by the celebrity president (which certainly weren't based on economics anyone would want to trade on).
And all of this has been financed by taxpayers, who pay his $207,000 pension, along with bennies such as unlimited air travel, transition expenses, office expenses, presidential library funds, and lifetime Secret Service detail.
Apparently, to the Obamas, there's no reaching that "certain point" at which "you've made enough money."
For Michelle, just call her "Mooch."  Is this really what an ex-presidency is supposed to be like?  Hitting the money jackpot?  What he makes on his own is his own business (subject to bribery laws), but taxpayers shouldn't be financing this level of movie-star billionaire luxe life.  Maybe it's time for some pension reform from Congress.  Would be quite a thing to see that idea presented to the House's ruling Democrats.

 

 

OBAMAnomics:

 

Billionaire Class Enjoys 15X the Wage Growth of American Working Class


The billionaire class — the country’s top 0.01 percent of earners — have enjoyed more than 15 times as much wage growth as America’s working and middle class since 1979, new wage data reveals.

Between 1979 and 2017, the wages of the bottom 90 percent — the country’s working and lower middle class — have grown by only about 22 percent, Economic Policy Institute (EPI) researchers find.
Compare that small wage increase over nearly four decades to the booming wage growth of America’s top one percent, who have seen their wages grow more than 155 percent during the same period.
The top 0.01 percent — the country’s billionaire class — saw their wages grow by more than 343 percent in the last four decades, more than 15 times the wage growth of the bottom 90 percent of Americans.
In 1979, America’s working class was earning on average about $29,600 a year. Fast forward to 2017, and the same bottom 90 percent of Americans are earning only about $6,600 more annually.
The almost four decades of wage stagnation among the country’s working and middle class comes as the national immigration policy has allowed for the admission of more than 1.5 million mostly low-skilled immigrants every year.
(Public Citizen)
In the last decade, alone, the U.S. admitted ten million legal immigrants, forcing American workers to compete against a growing population of low-wage workers. Meanwhile, employers are able to reduce wages and drive up their profit margins thanks to the annual low-skilled immigration scheme.
The Washington, DC-imposed mass immigration policy is a boon to corporate executives, Wall Street, big business, and multinational conglomerates as every one percent increase in the immigrant composition of an occupation’s labor force reduces Americans’ hourly wages by 0.4 percent. Every one percent increase in the immigrant workforce reduces Americans’ overall wages by 0.8 percent.
Mass immigration has come at the expense of America’s working and middle class, which has suffered from poor job growth, stagnant wages, and increased public costs to offset the importation of millions of low-skilled foreign nationals.
Four million young Americans enter the workforce every year, but their job opportunities are further diminished as the U.S. imports roughly two new foreign workers for every four American workers who enter the workforce. Even though researchers say 30 percent of the workforce could lose their jobs due to automation by 2030, the U.S. has not stopped importing more than a million foreign nationals every year.
For blue-collar American workers, mass immigration has not only kept wages down but in many cases decreased wages, as Breitbart News reported. Meanwhile, the U.S. continues importing more foreign nationals with whom working-class Americans are forced to compete. In 2016, the U.S. brought in about 1.8 million mostly low-skilled immigrants.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.

 

Study: Elite Zip Codes Thrived in Obama Recovery, Rural America Left Behind

4:49

Wealthy cities and elite zip codes thrived under the slow-moving economic recovery of President Obama while rural American communities were left behind, a study reveals.

The Economic Innovation Group research, highlighted by Axios, details the massive economic inequality between the country’s coastal city elites and middle America’s working class between the Great Recession in 2007 and Obama’s economic recovery in 2016.
Between 2007 and 2016, the number of residents living in elite zip codes grew by more than ten million, with an overwhelming faction of that population growth being driven by mass immigration where the U.S. imports more than 1.5 million illegal and legal immigrants annually.
The booming 44.5 million immigrant populations are concentrated mostly in the country’s major cities like Los Angeles, California, Miami Florida, and New York City, New York. The rapidly growing U.S. population — driven by immigration — is set to hit 404 millionby 2060, a boon for real estate developers, wealthy investors, and corporations, all of which benefit greatly from dense populations and a flooded labor market.
The economic study found that while the population grew in wealthy cities, America’s rural population fell by nearly 3.5 million residents.
Likewise, by 2016, elite zip codes had a surplus of 3.6 million jobs, which is more than the combined bottom 80 percent of American zip codes. While it only took about five years for wealthy cities to replace the jobs lost by the recession, it took “at risk” regions of the country a decade to recover, and “distressed” U.S. communities are “unlikely ever to recover on current trendlines,” the report predicts.
A map included in the research shows how rich, coastal metropolises have boomed economically while entire portions of middle America have been left behind as job and business gains remain concentrated at the top of the income ladder.
(Economic Innovation Group) 
(Economic Innovation Group)
Economic growth among the country’s middle-class counties and middle-class zip codes has considerably trailed national economic growth, the study found.
For example, between 2012 and 2016, there were 4.4 percent more business establishments in the country as a whole. That growth was less than two percent in the median zip code and there was close to no growth in the median county.
The same can be said of employment growth, where U.S. employment grew by about 9.3 percent from 2012 to 2016. In the median zip code, though, employment grew by only 5.5 percent and in the median county, employment grew by less than four percent.
“Nearly three in every five large counties added businesses on net over the period, compared to only one in every five small one,” the report concluded.
Elite zip codes added more business establishments during Obama’s economic recovery, between 2012 and 2016, than the entire bottom 80 percent of zip codes combined. For instance, while more than 180,000 businesses have been added to rich zip codes, the country’s bottom tier has lost more than 13,000 businesses even after the economic recovery.
(Economic Innovation Group) 
(Economic Innovation Group)
The gutting of the American manufacturing base, through free trade, has been a driving catalyst for the collapse of the white working class and black Americans. Simultaneously, the outsourcing of the economy has brought major wealth to corporations, tech conglomerates, and Wall Street.
The dramatic decline of U.S. manufacturing at the hands of free trade—where more than 3.4 million American jobs have been lost solely due to free trade with China, not including the American jobs lost due to agreements like the North American Free Trade Agreement (NAFTA) and the United States-Korea Free Trade Agreement (KORUS)—has coincided with growing wage inequality for white and black Americans, a growing number of single mother households,  a drop in U.S. marriage rates, a general stagnation of working and middle class wages, and specifically, increased black American unemployment.
“So, the loss of manufacturing work since 1960 represents a steady decline in relatively high-paying jobs for less-educated workers,” recent research from economist Eric D. Gould has noted.
Fast-forward to the modern economy and the wage trend has been the opposite of what it was during the peak of manufacturing in the U.S. An Economic Policy Institute studyfound this year that been 2009 and 2015, the top one percent of American families earned about 26 times as much income as the bottom 99 percent of Americans.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder

 

 

 

Record high income in 2017 for top one percent of wage earners in US

In 2017, the top one percent of US wage earners received their highest paychecks ever, according to a report by the Economic Policy Institute (EPI).
Based on newly released data from the Social Security Administration, the EPI shows that the top one percent of the population saw their paychecks increase by 3.7 percent in 2017—a rate nearly quadruple the bottom 90 percent of the population. The growth was driven by the top 0.1 percent, which includes many CEOs and corporate executives, whose pay increased eight percent and averaged $2,757,000 last year.
The EPI report is only the latest exposure of the gaping inequality between the vast majority of the population and the modern-day aristocracy that rules over them.
The EPI shows that the bottom 90 percent of wage earners have increased their pay by 22.2 percent between 1979 and 2017. Today, this bottom 90 percent makes an average of just $36,182 a year, which is eaten up by the cost of housing and the growing burden of education, health care, and retirement.
Meanwhile, the top one percent has increased its wages by 157 percent during this same period, a rate seven times faster than the other group. This top segment makes an average of $718,766 a year. Those in-between, the 90th to 99th percentile, have increased their wages by 57.4 percent. They now make an average of $152,476 a year—more than four times the bottom 90 percent.
Graph from the Economic Policy Institute
Decades of decaying capitalism have led to this accelerating divide. While the rich accumulate wealth with no restriction, workers’ wages and benefits have been under increasing attack. In 1979, 90 percent of the population took in 70 percent of the nation’s income. But, by 2017, that fell to only 61 percent.
Even more, while the bottom 90 percent of the population may take in 61 percent of the wages, large sections of the workforce today barely pull in any income at all. For example, Social Security Administration data found that the bottom 54 percent of wage earners in the United States, 89.5 million people, make an average of just $15,100 a year. This 54 percent of the population earns only 17 percent of all wages paid in America.
However unequal, these wage inequalities still do not fully present the divide between rich and poor. The ultra-wealthy derive their wealth not primarily from wages, but from assets and equities—principally from the stock market. While the bottom 90 percent of the population made 61 percent of the wages in 2017, they owned even less, just 27 percent of the wealth (according to the World Inequality Report 2018 by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman).
The massive increase in the value of the stock market, which only a small segment of the population participates in, means that the top 10 percent of the population controls 73 percent of all wealth in the United States. Just three men—Jeff Bezos, Warren Buffet and Bill Gates—had more wealth than the bottom half of America combined last year.
Wages are so low in the United States that roughly half of the population falls deeper into debt every year. A Reuters report from July found that the pretax net income (that is, income minus expense) of the bottom 40 percent of the population was an average of negative $11,660. Even the middle quintile of the population, the 40th to 60th percentile, breaks even with an average of only $2,836 a year.
As the Social Security Administration numbers show, 67.4 percent of the population made less than the average wage, $48,250 a year in 2017, a sum that is inadequate to support a family in many cities—especially, with high housing costs, health care, education, and retirement factored in.
For the ruling class, though, workers’ wages are already too much. The volatility of the stock market and the deep fear that the current bull market will collapse has made politicians and businessmen anxious of any sign of wage increases.
In August, wages in the US rose just 0.2 percent above the inflation rate, the highest in nine years. Though the increase was tiny, it was enough to encourage the Federal Reserve to increase the interest rate past two percent for the first time since 2008. Raising interest rates helps to depress workers’ wages by lowering borrowing and spending. As the Financial Times noted, stopping wage growth was “central” to the Federal Reserve’s move.
Further analysis of the Social Security Administration data shows that in 2017, 147,754 people reported wages of 1 million dollars or more—roughly, the top 0.05 percent. Their combined total income of $372 billion could pay for the US federal education budget five times over.
These wages, however large, still pale in comparison to the money the ultra-rich acquire from the stock market. For example, share buybacks and dividend payments, a way of funneling money to shareholders, will eclipse $1 trillion this year.
Whatever the immediate source, the wealth of the rich derives from the great mass of people who do the actual work. Across the United States and around the world, workers, young people, and students have entered into struggle this year over pay, education, health care, immigration, war and democratic rights. This growing movement of the working class must set as its aim confiscating the wealth and power of this tiny parasitic oligarchy. Society’s wealth must be democratically controlled by those who produce it.




THE STAGGERING ECONOMIC INEQUALITY UNDER OBAMA'S ADMINISTRATION SERVING THE BILLIONAIRE CLASS.

THE ENTIRE REASON BEHIND AMNESTY IS TO KEEP WAGES DEPRESSED AND PASS ALONG THE REAL COST OF "CHEAP" MEXICAN LABOR TO THE AMERICAN MIDDLE CLASS.

AND IT'S WORKING!


SEN. BERNIE SANDERS

“Calling income and wealth inequality the "great moral issue of our time," Sanders laid out a sweeping, almost unimaginably expensive program to transfer wealth from the richest Americans to the poor and middle class. A $1 trillion public works program to create "13 million good-paying jobs." A $15-an-hour federal minimum wage. "Pay equity" for women. Paid sick leave and vacation for everyone. Higher taxes on the wealthy. Free tuition at all public colleges and universities. A Medicare-for-all single-payer health care system. Expanded Social Security benefits. Universal pre-K.” WASHINGTON EXAMINER

YOU THOUGHT OBAMA INVITED OBAMANOMICS and started the assault on the American middle-class?
NOPE!

“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.”



Clinton Foundation Put On Watch List Of Suspicious ‘Charities’






OBAMA: SERVANT OF THE 1%


Richest one percent controls nearly half of global wealth


The richest one percent of the world’s population now controls 48.2 percent of global wealth, up from 46 percent last year.



The report found that the growth of global inequality has accelerated sharply since the 2008 financial crisis, as the values of financial assets have soared while wages have stagnated and declined.

Millionaires projected to own 46 percent of global private wealth by 2019

Households with more than a million (US) dollars in private wealth are projected to own 46 percent of global private wealth in 2019 according to a new report by the Boston Consulting Group (BCG).

This large percentage, however, only includes cash, savings, money market funds and listed securities held through managed investments—collectively known as “private wealth.” It leaves out businesses, residences and luxury goods, which comprise a substantial portion of the rich’s net worth.

At the end of 2014, millionaire households owned about 41 percent of global private wealth, according to BCG. This means that collectively these 17 million households owned roughly $67.24 trillion in liquid assets, or about $4 million per household.

In total, the world added $17.5 trillion of new private wealth between 2013 and 2014. The report notes that nearly three quarters of all these gains came from previously existing wealth. In other words, the vast majority of money gained has been due to pre-existing assets increasing in value—not the creation of new material things.

This trend is the result of the massive infusions of cheap credit into the financial markets by central banks. The policy of “quantitative easing” has led to a dramatic expansion of the stock market even while global economic growth has slumped.

While the wealth of the rich is growing at a breakneck pace, there is a stratification of growth within the super wealthy, skewed towards the very top.

In 2014, those with over $100 million in private wealth saw their wealth increase 11 percent in one year alone. Collectively, these households owned $10 trillion in 2014, 6 percent of the world’s private wealth. According to the report, “This top segment is expected to be the fastest growing, in both the number of households and total wealth.” They are expected to see 12 percent compound growth on their wealth in the next five years.

Those families with wealth between $20 and $100 million also rose substantially in 2014—seeing a 34 percent increase in their wealth in twelve short months. They now own $9 trillion. In five years they will surpass $14 trillion according to the report.

Coming in last in the “high net worth” population are those with between $1 million and $20 million in private wealth. These households are expected to see their wealth grow by 7.2 percent each year, going from $49 trillion to $70.1 trillion dollars, several percentage points below the highest bracket’s 12 percent growth rate.

The gains in private wealth of the ultra-rich stand in sharp contrast to the experience of billions of people around the globe. While wealth accumulation has sharply sped up for the ultra-wealthy, the vast majority of people have not even begun to recover from the past recession.

An Oxfam report from January, for example, shows that the bottom 99 percent of the world’s population went from having about 56 percent of the world’s wealth in 2010 to having 52 percent of it in 2014. Meanwhile the top 1 percent saw its wealth rise from 44 to 48 percent of the world’s wealth.
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.

As the Organization for Economic Co-operation and Development (OECD) has noted, in the United States “between 2007 and 2013, net wealth fell on average 2.3 percent, but it fell ten-times more (26 percent) for those at the bottom 20 percent of the distribution.” The 2015 report concludes that “low-income households have not benefited at all from income growth.”

Another report by Knight Frank, looks at those with wealth exceeding $30 million. The report notes that in 2014 these 172,850 ultra-high-net-worth individuals increased their collective wealth by $700 billion. Their total wealth now rests at $20.8 trillion.

The report also draws attention to the disconnection between the rich and the actual economy. It states that the growth of this ultra-wealthy population “came despite weaker-than-anticipated global economic growth. During 2014 the IMF was forced to downgrade its forecast increase for world output from 3.7 percent to 3.3 percent.”


DICK MORRIS:

On America’s First Family of Crime….. NO! Not the Bushes again!

Clinton global hucksterism – Selling out America like they sold out the Lincoln Bedroom.



HILLARY CLINTON: CRONY CLASS’  “Hope and Change” huckster’s successor!

“I serve Obama’s cronies first, illegals second and together we will loot the American middle-class to double our figures. It’s called BAILOUTS! Evita Peron Clinton



At this point, Clinton is the choice of most multimillionaires to be the next occupant of the White House. A recent CNBC poll of 750 millionaires found 53 percent support for Clinton in a contest with Republican Jeb Bush, 14 points better than Obama’s showing in the 2012 election with the same group.


Sen. Bernie Sanders – America’s answer to Wall Street’s looting, the war on the American middle-class and jobs for legals!



“At this point, Clinton is the choice of most multimillionaires to be the next occupant of the White House. A recent CNBC poll of 750 millionaires found 53 percent support for Clinton in a contest with Republican Jeb Bush, 14 points better than Obama’s showing in the 2012 election with the same group.”

THE CRONY CLASS:

OBAMACLINTONOMICS 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.”


“Calling income and wealth inequality the "great moral issue of our time," Sanders laid out a sweeping, almost unimaginably expensive program to transfer wealth from the richest Americans to the poor and middle class. A $1 trillion public works program to create "13 million good-paying jobs." A $15-an-hour federal minimum wage. "Pay equity" for women. Paid sick leave and vacation for everyone. Higher taxes on the wealthy. Free tuition at all public colleges and universities. A Medicare-for-all single-payer health care system. Expanded Social Security benefits. Universal pre-K.” WASHINGTON EXAMINER


OBAMA’S WALL STREET and the LOOTING of AMERICA – SECOND TERM

The corporate cash hoard has likewise reached a new record, hitting an estimated $1.79 trillion in the fourth quarter of last year, up from $1.77 trillion in the previous quarter. Instead of investing the money, however, companies are using it to buy back their own stock and pay out record dividends.

Megan McArdle Discusses How America's Elites Are Rigging the Rules - Newsweek/The Daily Beast special correspondent Megan McArdle joins Scott Rasmussen for a discussion on America's new Mandarin class.




PATRICK BUCHANAN: OBAMA’S ASSAULT  ON AMERICA BEGINS AT OUR BORDERS


WHO REALLY PAYS FOR THE CRIMES OF OBAMA’S CRONY DONORS???
LAST WEEK BARACK OBAMA CELEBRATED FIVE YEARS OF THE LOOTING BY HIS WALL STREET BANKSTERS… now it’s back to cutting social programs to pay for all that rape by the 1% he represents. The following week it will be back to the AMNESTY HOAX to legalize Mexico’s looting of America and make it legal that Mexicans get our jobs first… they already do!
As in previous budget crises under the Obama administration, the events are being stage-managed by the two corporate-controlled parties to give the illusion of partisan gridlock and confrontation over principles—in this case, whether to go forward with the implementation of the Obama health care program—while behind the scenes all factions within the ruling elite agree that massive cuts must be carried through in basic federal social programs.

OBAMA’S CRONY CAPITALISM – A NATION RULED BY CRIMINAL WALL STREET BANKSTERS AND OBAMA DONORS

GET THIS BOOK
Culture of Corruption: Obama and His Team of Tax Cheats, Crooks, and Cronies
by Michelle Malkin
In her shocking new book, Malkin digs deep into the records of President Obama's staff, revealing corrupt dealings, questionable pasts, and abuses of power throughout his administration.

PATRICK BUCHANAN 
After Obama has completely destroyed the American economy, handed millions of jobs to illegals and billions of dollars in welfare to illegals…. BUT WHAT COMES NEXT?


OBAMANOMICS: IS IT WORKING???

Millionaires projected to own 46 percent of global private wealth by 2019

By Gabriel Black
18 June 2015
Households with more than a million (US) dollars in private wealth are projected to own 46 percent of global private wealth in 2019 according to a new report by the Boston Consulting Group (BCG).
This large percentage, however, only includes cash, savings, money market funds and listed securities held through managed investments—collectively known as “private wealth.” It leaves out businesses, residences and luxury goods, which comprise a substantial portion of the rich’s net worth.

At the end of 2014, millionaire households owned about 41 percent of global private wealth, according to BCG. This means that collectively these 17 million households owned roughly $67.24 trillion in liquid assets, or about $4 million per household.

In total, the world added $17.5 trillion of new private wealth between 2013 and 2014. The report notes that nearly three quarters of all these gains came from previously existing wealth. In other words, the vast majority of money gained has been due to pre-existing assets increasing in value—not the creation of new material things.

This trend is the result of the massive infusions of cheap credit into the financial markets by central banks. The policy of “quantitative easing” has led to a dramatic expansion of the stock market even while global economic growth has slumped.

While the wealth of the rich is growing at a breakneck pace, there is a stratification of growth within the super wealthy, skewed towards the very top.

In 2014, those with over $100 million in private wealth saw their wealth increase 11 percent in one year alone. Collectively, these households owned $10 trillion in 2014, 6 percent of the world’s private wealth. According to the report, “This top segment is expected to be the fastest growing, in both the number of households and total wealth.” They are expected to see 12 percent compound growth on their wealth in the next five years.

Those families with wealth between $20 and $100 million also rose substantially in 2014—seeing a 34 percent increase in their wealth in twelve short months. They now own $9 trillion. In five years they will surpass $14 trillion according to the report.

Coming in last in the “high net worth” population are those with between $1 million and $20 million in private wealth. These households are expected to see their wealth grow by 7.2 percent each year, going from $49 trillion to $70.1 trillion dollars, several percentage points below the highest bracket’s 12 percent growth rate.

The gains in private wealth of the ultra-rich stand in sharp contrast to the experience of billions of people around the globe. While wealth accumulation has sharply sped up for the ultra-wealthy, the vast majority of people have not even begun to recover from the past recession.

An Oxfam report from January, for example, shows that the bottom 99 percent of the world’s population went from having about 56 percent of the world’s wealth in 2010 to having 52 percent of it in 2014. Meanwhile the top 1 percent saw its wealth rise from 44 to 48 percent of the world’s wealth.

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.

As the Organization for Economic Co-operation and Development (OECD) has noted, in the United States “between 2007 and 2013, net wealth fell on average 2.3 percent, but it fell ten-times more (26 percent) for those at the bottom 20 percent of the distribution.” The 2015 report concludes that “low-income households have not benefited at all from income growth.”

Another report by Knight Frank, looks at those with wealth exceeding $30 million. The report notes that in 2014 these 172,850 ultra-high-net-worth individuals increased their collective wealth by $700 billion. Their total wealth now rests at $20.8 trillion.

The report also draws attention to the disconnection between the rich and the actual economy. It states that the growth of this ultra-wealthy population “came despite weaker-than-anticipated global economic growth. During 2014 the IMF was forced to downgrade its forecast increase for world output from 3.7 percent to 3.3 percent.”

THE CRONY CLASS:

OBAMACLINTONOMICS 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.”

*

“Calling income and wealth inequality the "great moral issue of our time," Sanders laid out a sweeping, almost unimaginably expensive program to transfer wealth from the richest Americans to the poor and middle class. A $1 trillion public works program to create "13 million good-paying jobs." A $15-an-hour federal minimum wage. "Pay equity" for women. Paid sick leave and vacation for everyone. Higher taxes on the wealthy. Free tuition at all public colleges and universities. A Medicare-for-all single-payer health care system. Expanded Social Security benefits. Universal pre-K.” WASHINGTON EXAMINER

OBAMA’S WALL STREET and the LOOTING of AMERICA – SECOND TERM

The corporate cash hoard has likewise reached a new record, hitting an estimated $1.79 trillion in the fourth quarter of last year, up from $1.77 trillion in the previous quarter. Instead of investing the money, however, companies are using it to buy back their own stock and pay out record dividends.

Megan McArdle Discusses How America's Elites Are Rigging the Rules - Newsweek/The Daily Beast special correspondent Megan McArdle joins Scott Rasmussen for a discussion on America's new Mandarin class.





POLL: MOST INCOMPETENT AND DISHONEST PRESIDENT SINCE…. Well, isn’t Obama merely Bush’s THIRD and FOURTH TERMS??




OBAMA’S CRONY CAPITALISM

A NATION RULED BY CRIMINAL WALL STREET BANKSTERS AND OBAMA DONORS



PATRICK BUCHANAN

After Obama has completely destroyed the American economy, handed millions of jobs to illegals and billions of dollars in welfare to illegals…. BUT WHAT COMES NEXT?





OBAMANOMICS: IS IT WORKING???

Millionaires projected to own 46 percent of global private wealth by 2019

By Gabriel Black
18 June 2015
Households with more than a million (US) dollars in private wealth are projected to own 46 percent of global private wealth in 2019 according to a new report by the Boston Consulting Group (BCG).
This large percentage, however, only includes cash, savings, money market funds and listed securities held through managed investments—collectively known as “private wealth.” It leaves out businesses, residences and luxury goods, which comprise a substantial portion of the rich’s net worth.

At the end of 2014, millionaire households owned about 41 percent of global private wealth, according to BCG. This means that collectively these 17 million households owned roughly $67.24 trillion in liquid assets, or about $4 million per household.

In total, the world added $17.5 trillion of new private wealth between 2013 and 2014. The report notes that nearly three quarters of all these gains came from previously existing wealth. In other words, the vast majority of money gained has been due to pre-existing assets increasing in value—not the creation of new material things.

This trend is the result of the massive infusions of cheap credit into the financial markets by central banks. The policy of “quantitative easing” has led to a dramatic expansion of the stock market even while global economic growth has slumped.

While the wealth of the rich is growing at a breakneck pace, there is a stratification of growth within the super wealthy, skewed towards the very top.

In 2014, those with over $100 million in private wealth saw their wealth increase 11 percent in one year alone. Collectively, these households owned $10 trillion in 2014, 6 percent of the world’s private wealth. According to the report, “This top segment is expected to be the fastest growing, in both the number of households and total wealth.” They are expected to see 12 percent compound growth on their wealth in the next five years.

Those families with wealth between $20 and $100 million also rose substantially in 2014—seeing a 34 percent increase in their wealth in twelve short months. They now own $9 trillion. In five years they will surpass $14 trillion according to the report.

Coming in last in the “high net worth” population are those with between $1 million and $20 million in private wealth. These households are expected to see their wealth grow by 7.2 percent each year, going from $49 trillion to $70.1 trillion dollars, several percentage points below the highest bracket’s 12 percent growth rate.

The gains in private wealth of the ultra-rich stand in sharp contrast to the experience of billions of people around the globe. While wealth accumulation has sharply sped up for the ultra-wealthy, the vast majority of people have not even begun to recover from the past recession.

An Oxfam report from January, for example, shows that the bottom 99 percent of the world’s population went from having about 56 percent of the world’s wealth in 2010 to having 52 percent of it in 2014. Meanwhile the top 1 percent saw its wealth rise from 44 to 48 percent of the world’s wealth.

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.

As the Organization for Economic Co-operation and Development (OECD) has noted, in the United States “between 2007 and 2013, net wealth fell on average 2.3 percent, but it fell ten-times more (26 percent) for those at the bottom 20 percent of the distribution.” The 2015 report concludes that “low-income households have not benefited at all from income growth.”

Another report by Knight Frank, looks at those with wealth exceeding $30 million. The report notes that in 2014 these 172,850 ultra-high-net-worth individuals increased their collective wealth by $700 billion. Their total wealth now rests at $20.8 trillion.

The report also draws attention to the disconnection between the rich and the actual economy. It states that the growth of this ultra-wealthy population “came despite weaker-than-anticipated global economic growth. During 2014 the IMF was forced to downgrade its forecast increase for world output from 3.7 percent to 3.3 percent.”


OBAMA-CLINTONomics: the never end war on the American middle-class. But we still get the tax bills for the looting of their Wall Street cronies and their bailouts and billions for Mexico’s welfare state in our borders.

While the wealth of the rich is growing at a breakneck pace, there is a stratification of growth within the super wealthy, skewed towards the very top.

                                                                                                     




In 2014, those with over $100 million in private wealth saw their wealth increase 11 percent in one year alone. Collectively, these households owned $10 trillion in 2014, 6 percent of the world’s private wealth. According to the report, “This top segment is expected to be the fastest growing, in both the number of households and total wealth.” They are expected to see 12 percent compound growth on their wealth in the next five years.


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.






INCOME PLUMMETS UNDER OBAMA AND HIS WALL STREET CRONIES

collapse of household income in the US… STILL BILLIONS IN WELFARE HANDED TO ILLEGALS… they already get our jobs and are voting for more!


INCOME PLUMMETS UNDER OBAMA… most jobs go to illegals.

AS HIS CRONY BANKSTERS CONTINUE TO LOOT, INCOMES PLUMMET FOR AMERICANS (LEGALS).

GOOD TIME FOR AMNESTY FOR MILLIONS OF LOOTING MEXICANS?

MORE HERE:

http://mexicanoccupation.blogspot.com/2014/09/and-still-democrat-party-wants-millions.html

“The yearly income of a typical US household dropped by a massive 12 percent, or $6,400, in the six years between 2007 and 2013. This is just one of the findings of the 2013 Federal Reserve Survey of Consumer Finances released Thursday, which documents a sharp decline in working class living standards and a further concentration of wealth in the hands of the rich and the super-rich.”
  
"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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