THE DOCTRINE OF THE N.A.F.T.A. GLOBALIST DEMOCRATS IS TO SERVE THE BILLIONAIRE CLASS WITH ENDLESS WAVES OF INVADING 'CHEAP' LABOR SUBSIDIZED WITH WELFARE FUNDED BY TAXES ON MIDDLE AMERICA.
In many speeches, Mayorkas says he is building a mass migration system to deliver workers to wealthy employers and investors and “equity” to poor foreigners. The nation’s border laws are subordinate to elites’ opinion about “the values of our country,” Mayorkas claims.
Sunday, October 11, 2020
JOE 'BRIBES' BIDEN - YES, I'M UP RED CHINA'S ASS - GET OVER IT!
PMorgan Chase: Joe Biden’s China Trade Agenda a Win for Wall Street Investors
Democrat presidential candidate Joe Biden’s plans to return the United States to more normal trade relations with China is a win for Wall Street investors, JPMorgan Chase analysts say.
Analysis by JPMorgan Chase, the largest multinational bank in the U.S. with assets of more than $3.2 trillion, notes that Biden’s “multilateral approach” to trade with China would be beneficial for Wall Street investors.
Specifically, the New York Timesreports, Biden’s agenda would be best for financial investors who are interested in corporations that produce and manufacture in China:
To tease out the underlying views of investors, analysts at JPMorgan Chase & Company recently assembled baskets of shares in companies they see as potential winners or likely losers in the event of a Biden victory.
Stocks of companies in the “winners” basket included industries such as health care, renewable energy, infrastructure, and companies likely to benefit from better trade relations with China. Such companies could benefit from Mr. Biden’s support for the Affordable Care Act, which has funneled significant amounts of federal dollars into the health care industry. Infrastructure, engineering and renewable energy companies could also benefit from a major stimulus push, aimed in part at countering climate change.
Biden has previously indicated that he would end President Trump’s tariffs on billions of dollars worth of China-made products, statements his campaign quickly walked back.
Multinational corporations that offshore their manufacturing to China, such as Nike, Apple, Microsoft, IBM, and Google, have lobbied hard against Trump’s tariffs on China. The corporate pressure has not shaken Trump’s agenda.
Wall Street investors and the nation’s biggest banks are rallying behind Biden and his running mate, Sen. Kamala Harris (D-CA), against Trump’s economic nationalist “America First” agenda, which they see as cutting into their profits.
At the recent vice presidential debate, Harris touted Wall Street’s support for Biden. Their campaign against Trump has raked in hundreds of thousands of dollars from Goldman Sachs, JPMorgan Chase, Citigroup, and Morgan Stanley.
Kamala Harris Touts Wall Street’s Support for Joe Biden During VP Debatehttps://t.co/7cnYcVgf4V
Though Biden has sought to rebrand himself for the 2020 presidential election as a defender of American manufacturing against Chinese imports, his record supporting free trade with Mexico, Canada, China, Malaysia, South Korea, and Vietnam dates back to the mid-1990s.
In 1994, Biden supported the North American Free Trade Agreement (NAFTA), and in the early 2000s he supported normalizing U.S. trade relations with China, as well as China’s entering the World Trade Organization (WTO). At least five million American manufacturing jobs and 55,000 American manufacturing plants were eliminated from the U.S. economy because of NAFTA and China’s entering the WTO.
Biden later supported KORUS, the U.S.-South Korean free trade deal, which eliminated 60,000 American jobs from the U.S. economy. Then, as vice president, Biden lobbied for passage of the Trans-Pacific Partnership (TPP) free trade agreement that would have forced American workers to compete for jobs against workers in Vietnam and Malaysia, where slave wages are often paid.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.
GET THIS BOOK ON AMERICA’S RULING CLASS KLEPTOCRACY
On Corruption in America: And What Is at Stake BY SARAH CHAYES
·Hardcover : 432 pages
·ISBN-10 : 0525654852
·ISBN-13 : 978-0525654858
·
Sarah Chayes uses her considerable analytical skills to tell the story of corruption in America and the scale of our current corrupt systems, exemplified by the network of Corporations, politicians, enabling lawyers and other agencies who have effectively corroded in the furtherance of their profit, all that was good and just and egalitarian in US society. Please read, please vow to support the changes she calls for. Our morality, our souls are at stake.
On Corruption in America: And What Is at Stake
From the prizewinning journalist, internationally recognized expert on corruption in government networks throughout the world, author of Thieves of State: Why Corruption Threatens Global Security ("I can't imagine a more important book for our time,"--Sebastian Junger; "Required reading,"--Tom Friedman; "compelling, fascinating . . . a call to action,"--The Huffington Post), a major, unflinching book that looks homeward to America, exploring the insidious, dangerous networks of corruption of our past, present, and precarious future.
Now, bringing to bear all of her knowledge, grasp, sense of history and observation, Sarah Chayes writes in her new book, that the United States is showing signs similar to some of the most corrupt countries in the world. Corruption, as Chayes sees it, is an operating system of sophisticated networks in which government officials, key private-sector interests, and out-and-out criminals interweave. Their main objective: not to serve the public but to maximize returns for network members. From the titans of America's Gilded Age (Carnegie, Rockefeller, J. P. Morgan, et al.) to the collapse of the stock market in 1929, the Great Depression and FDR's New Deal; from Joe Kennedy's years of banking, bootlegging, machine politics, and pursuit of infinite wealth, as well as the Kennedy presidency, to the deregulation of the Reagan Revolution, undermining the middle class and the unions; from the Clinton policies of political favors and personal enrichment to Trump's hydra-headed network of corruption, systematically undoing the Constitution and our laws, Chayes shows how corrupt systems are organized, how they enforce the rules so their crimes are covered legally, how they are overlooked and downplayed--shrugged off with a roll of the eyes--by the richer and better educated, how they become an overt principle determining the shape of our government, affecting all levels of society.
Reading Sarah Chayes's descriptions of Gilded Age and modern kleptocracy from Reagan to Trump, I couldn't help remembering Upton Sinclairs' observation that he had aimed for the nation's heart with his novel _The Jungle_ but hit its stomach. Chayes's history of the Gilded Age, in my opinion, is at least as good if not better than Howard Zinn's and Thomas Frank's, and some of her detailed descriptions of American corruption from 1873 to present often made me feel physically ill.
Not a few money-obsessed Democrats come in for scathing criticism alongside the expected bevy of Republicans (including the heirs to the Dixiecrats). It is not a matter of party or class per se: Chayes argues, correctly I think, that the Great Depression and World War II not only enabled the fulfillment of many of the goals of the strikers and protestors of the six decades from 1873 to 1933 but also taught most Americans a kind of social empathy that has been systematically and deliberately attacked by networks of moneyed interests from 1980 to the present day.
Some readers may be a bit put off by Chayes's reliance on Greek and Christian allegories for thematic continuity, but I appreciated them. In any case, she more than redeems herself by drawing from her personal experiences in "third world" nations to expose, again and again, the hubris of Americans like Trump, whose infamous comment about "shithole" African countries reveals so much of the kleptocratic mindset and his personal psychopathy.
Chayes offers many specific ideas for digging ourselves out of the quagmire of kleptocracy and corruption, but no simple solutions. Given climate change and the COVID-19 pandemic, will we survive long enough to pursue them, let alone turn the tide?
This process was sped up by the 2008 financial crisis, in which the Obama administration took measures to gut autoworkers’ pay while funneling trillions of dollars to Wall Street.
According to a Bloomberg analysis of the data, the richest 50 Americans now have as much wealth as the bottom half of the population. The increased concentration of wealth at the top in the course of 2020 is the result of the unprecedented injection of money into the stock market by the Fed, which has led to an explosive growth in the fortunes of moguls such as Amazon CEO Jeff Bezos, Tesla chief Elon Musk and Facebook CEO Mark Zuckerberg.
Richest 50 Americans now have as much wealth as bottom 165 million
The Federal Reserve released data this week on US household wealth that documents the acceleration of wealth inequality during the COVID-19 pandemic.
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