“Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people. To destroy this invisible government, to befoul the unholy alliance between corrupt business and corrupt politics is the first task of the statesmanship of today.” THEODORE ROOSEVELT
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.
Practically every cabinet appointee of Obama’s has close personal connections to the ruling class, many having come directly from corporate boardrooms. Under Obama’s watch not a single executive at a major financial firm has been criminally tried, much less sent to jail, for their role in the financial crisis.
“Attorney General Eric Holder's tenure was a low point even within the disgraceful scandal-ridden Obama years.” DANIEL GREENFIELD / FRONTPAGE MAG
"One of the premier institutions of big business, JP Morgan Chase, issued an internal report on the eve of the 10th anniversary of the 2008 crash, which warned that another “great liquidity crisis” was possible, and that a government bailout on the scale of that effected by Bush and Obama will produce social unrest, “in light of the potential impact of central bank actions in driving inequality between asset owners and labor."
This manufactured crisis has, in turn, been exploited by the Obama administration and both big business parties to hand over trillions in pension funds and other public assets to the financial kleptocracy that rules America.
“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes. This is the way a great country is raided by its elite.” ----Karen McQuillan AMERICAN THINKER
Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.
THE CRONY CLASS:
Income inequality grows FOUR TIMES FASTER under Obama-Biden and their bankster regime than Bush.
http://mexicanoccupation.blogspot.com/2014/12/obamanomics-at-work-depressed-wages-and.html
“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.”
“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes. This is the way a great country is raided by its elite.” ----Karen McQuillan AMERICAN THINKER
Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.
Wealth concentration increases in US. https://mexicanoccupation.blogspot.com/2019/02/staggering-concentration-of-wealth-in.html
The latest research on wealth inequality by University of California economics professor Gabriel Zucman underscores one of the key social and economic trends since the global financial crisis of 2008. Those at the very top of society, who benefited directly from the orgy of speculation that led to the crash, have seen their wealth accumulate at an even faster rate, while the mass of the population has suffered a major decline.
The past 40 years have seen the consolidation of a plutocratic elite, which has subordinated every aspect of American society to a single goal: amassing ever more colossal amounts of personal wealth. The top one percent have captured all of the increase in national income over the past two decades, and all of the increase in national wealth since the 2008 crash.
“This was not because of difficulties in securing indictments or convictions. On the contrary, Attorney General Eric Holder told a Senate committee in March of 2013 that the Obama administration chose not to prosecute the big banks or their CEOs because to do so might “have a negative impact on the national economy.”
"This is how they will destroy America from within. The leftist billionaires who orchestrate these plans are wealthy. Those tasked with representing us in Congress will never be exposed to the cost of the invasion of millions of migrants. They have nothing but contempt for those of us who must endure the consequences of our communities being intruded upon by gang members, drug dealers and human traffickers. These people have no intention of becoming Americans; like the Democrats who welcome them, they have contempt for us." PATRICIA McCARTHY
A key factor in Obama’s newfound and growing wealth are those who profited from his presidency. A number of his public speeches have been given to big Wall Street firms and investors. Obama has given at least nine speeches to Cantor Fitzgerald, a large investment and commercial real estate firm, and other high-end corporations. According to records, each speech has been at least $400,000 a clip.
During his presidency, Obama bragged that his administration was “the only thing between [Wall Street] and the pitchforks.”
In fact, Obama handed the robber barons and outright criminals responsible for the 2008–09 financial crisis a multi-trillion-dollar bailout. His administration oversaw the largest redistribution of wealth in history from the bottom to the top one percent, spearheading the attack on the living standards of teachers and autoworkers.
No, Joe, There Was No Economic Boom Under Obama
Stephen Moore
The great Jackie Gleason once said, "The past remembers better than it lived." And so it is, apparently, with the Obama years.
BLOG EDITOR: THE ECONOMIC MELTDOWN OF 2008 WAS CAUSED ENTIRELY BY THE VERY BANKSTERS WHO OWNED BARACK OBAMA AND JOE BIDEN FROM DAY ONE. THEY NOW ALSO OWN KAMALA HARRIS.
ULTIMATELY, THE ‘OBAMA RECOVERY’ SAW THE GREATEST TRANSFER OF WEALTH TO THE RICH IN AMERICAN HISTORY.
There was no economic "boom" as Joe Biden and Kamala Harris are misremembering. This was an economy that skidded into a financial ditch and seemingly never pulled out of it and got back on the prosperity hot lanes until Donald Trump won the election in November 2016.
You can mark the real recovery -- an economic inflection point almost the day after that surprise election outcome.
Every liberal forecaster and most academic economists had guaranteed America that, if Trump were elected, the stock market would crash; workers would be flattened; and, as New York Times economist Paul Krugman famously predicted, the economy would "never" recover.
Instead, the Dow Jones Industrial Average soared by 257 points the morning after the election (that's some crash), and it rose for the next three years, as it has again over the last several months. A few days after that election, small-business optimism surged by its most considerable amount ever measured, going back many decades. Family incomes surged to record-high levels in 2017, 2018 and 2019 as deregulation and tax cuts fueled a powerful engine. In three years, ordinary people had made more income gains than in eight years under the Obama-Biden administration.
But now we are being told a fairy tale that the Obama economy was booming and Biden miraculously fixed it and Trump "blew it."
Here's the reality check. Under Barack Obama, the economy barely grew 2% -- rather pathetic for a "recovery." The people who made the preposterous bullish claims that Obama saved the economy are the ones who now say the Biden economic plan will gain millions of jobs.
In the last year of Obama's presidency, growth shrunk to 1.6%, and the concern was the possibility of another recession. That's some boom.
If the Obama recovery had been as rapid as the average recovery, we would have had at least $1 trillion more GDP by 2016. If we had experienced a Ronald Reagan-style recovery, the GDP would have been $2.5 trillion larger when Obama left office. It is almost equivalent to the size of the entire output of the state of California gone missing.
The first four years of the Obama presidency were abysmal. The Obama-Biden $800 billion stimulus plan left unemployment higher every year than their economists had predicted if we did nothing. What bailed out Obama, ironically enough, was the shale oil and gas revolution that added millions of jobs despite the Obama-Biden hatred of fossil fuels. Most of the employment growth came in Texas, Oklahoma and North Dakota. Meanwhile, most of the green energy subsidies went into failed and now-bankrupt companies such as Solyndra. And now Biden promises another $2 trillion for "clean energy" corporate welfare subsidies.
Throughout nearly all of the Biden-Obama presidency, roughly 1 out of 3 people in the United States rated the economy as "good" or "excellent." Most of the rest rated the economy "fair" or "poor." That number surged to about 65% rating the economy as "good" or "excellent" within a year of Trump's presidency.
People can debate Trump's handling of the virus and the mistakes that have been made. It now looks like under any scenario, except an airtight sequestering of those over the age of 75, smokers, diabetics and severely overweight people, we would have seen the same or worse results.
Now the question is which game plan gets the economy and employment back to normal as quickly as possible. Biden promises a $4 trillion tax hike on almost all U.S. businesses and investors. That's roughly 5% of everything we produce that gets snatched away in higher taxes. If you believe that this will get America back on the fast track, you probably believe Obama caused an economic boom.
Stephen Moore is a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks. He is the co-author of "Trumponomics: Inside the America First Plan to Revive the American Economy."
Hardcover – August 18, 2020 5.0 out of 5 stars 5 ratings Hardcover – August 18, 2020 by Jack Cashill (Author)
Jack Cashill’s Unmasking Obama By Thomas Lifson
To my surprise, Jack Cashill's new book, Unmasking Obama, couldn't be more relevant to the political struggle facing us today. In 2020, as in 2008 (and throughout the two Obama presidential terms), the key to political power is what must be called "information warfare" (my term, not Jack's) between the mighty establishment media and the feisty conservative alternative media, which Jack likens to the samizdat underground commentary in the old Soviet Union. It is the process of the unmasking of the phony propaganda peddled by the all-powerful establishment by the resource- and prestige-poor "Lilliputians" (an appropriation of Jonathan Swift's work that the satirist surely would approve of) that is the heart of the book. The narrative history presented in Unmasking Obama is captivating. Jack takes readers along with him as he was both a participant in the warfare and a historian of it, digging up parts of the elusive truth about the real Barack Obama in the face of derision and obstruction that came his way. But Jack is far from the sole hero of the story of the warfare. Because of his literary detective work, proving beyond a reasonable doubt that Bill Ayers wrote the autobiographical book, Dreams from My Father, that first established Obama as a serious intellect, Jack enjoyed access to many of the most formidable truth-tellers about Obama. The book's prologue, in fact, begins with a phone call Jack received in 2011 from a then little-known lawyer named Michael Cohen, acting as a lawyer for Donald Trump. Unmasking Obama takes the reader through the major aspects of the fraudulent picture of Obama that was painted by the media and political establishments and details how the truth was uncovered and often partially suppressed by the retaliatory efforts launched in response. It often resembles detective fiction in the drama of the struggle to get at the truth and the struggle to prevent that. I hesitate to call it beach reading, for it is not in any sense fluff, intended to while away time. But it is vastly entertaining and thought-provoking, and the 218 pages fly by rapidly. Today, exactly the same struggle is underway between the Lilliputians seeking to uncover who really is running the front-man candidacy of Joe Biden and the shadowy movement that is looting and destroying our cities and the coordinated might of the mass media that spends 95% of its time pushing a party line that Trump is an unprecedented threat to human civilization and Joe Biden an amiable and pragmatic centrist. Future historians, if there are any left still interested and able to dispassionately understand how America came to the current point of crisis, will find the story told in Unmasking Obama a very helpful guide. If journalism is the "first draft of history," Unmasking Obama is a well considered second draft, adding crucial perspective and assessment of the consequences of the real-time reports. You don't have to wait that long, though. It went on sale last week, and is well worth your time.
Income inequality grows four times faster under Obama than Bush …. we bankroll Mexico's welfare state in our borders as the number of Americans (Legals) sink into poverty! Illegals also get all the jobs!
http://mexicanoccupation.blogspot.com/2013/09/obamas-assault-on-american-people-on.html
The study noted that, in the aftermath of the Great Depression, the US undertook policies “during the New Deal [that] permanently reduced income concentration until the 1970s.” In contrast, the study noted a striking absence of any measures to reign in social inequality in the present crisis. Far from it, the Obama administrations’ bank bailouts, austerity program and wage-cutting policies have vastly expanded the prevalence of social inequality.
OBAMA’S CRONY BANKSTERISM
THE FED'S OLD BOY NETWORK
By Attorney Jonathan Emord
Author of "The Rise of Tyranny" and
"Global Censorship of Health Information"
December 19, 2011
NewsWithViews.com
Bloomberg LP, parent of Bloomberg News, performed an enormous service for the American public when it sued the Federal Reserve and the Clearing House Association LLC, an institution created by several of the nation’s largest banks, to force disclosure of secret loans made by the Federal Reserve principally to the six largest U.S. banks but also to certain foreign banks. The treasure trove of evidence ultimately obtained by Bloomberg reveals that while the public Troubled Asset Relief Program (TARP) bailed out leading Wall Street firms for the whopping sum of $700 billion, the Fed at the same time doled out some $7.77 trillion (an astronomical sum equal to have the gross domestic product). To make matters worse, the Fed expanded its emergency discount lending program, giving tens of billions more to the same banks at an interest rate of 1%, while the prime lending rate stood at over 3%. The banks getting these funds often turned them into profit centers, lending out proceeds from them at higher interest rates and pocketing the difference, profiting on federal largesse.
The President and his top economic advisers bought the “too big to fail” concept, the notion that regardless of how profligate, irresponsible, even criminal, heads of the leading financial institutions in America had been, it would be worse for the nation if those institutions were to collapse. Consequently, while pushing a legislative agenda of public bail-outs, the Obama Administration maintained a secret program of multi-trillion dollar loans, including billions at below market interest rates. The principal recipients of the funding were JPMorgan, Bank of America, Citigroup Inc., Wells Fargo & Co., Goldman Sachs Group Inc. and Morgan Stanley.
The General Accounting Office audit of the Federal Reserve revealed that some $16 trillion was supplied in secret loans from the Federal Reserve between December 1, 2007 and July 21, 2010. The largest single recipients were Citigroup ($2.5 trillion); Morgan Stanley ($2 trillion); Merrill Lynch ($2 trillion); Bank of America ($1.3 trillion); Barclays PLC ($868 billion); Bear Stearns ($853 billion); Goldman Sachs ($814 billion); the Royal Bank of Scotland ($541 billion); JP Morgan Chase ($391 billion); and Deutsche Bank ($354 billion).
Bloomberg discovered that while top banks were touting in their press releases during the crisis that they had fiscal soundness, their balance sheets were made up primarily of federal funds, most from the Federal Reserve. Moreover, while many banks paid back the TARP funds, they most often did so in reliance on the secret receipts of tens of billions of dollars in Federal Reserve money (in other words, the pay back was in that sense a charade: federal money paid back federal loans). In short, the Administration was complicit in the orchestration of a massive fraud on the American public, making it seem that the banks largely responsible for the financial crisis were weathering the storm of their own accord when in fact they were on board the good ship U.S. Taxpayer.
Meanwhile, the bad lending and financial dealing practices that helped produce the financial crisis have been largely kept in place, underwritten by the federal government. The top banks suddenly realized that far from having to suffer ignominy and defeat for their abuses, they would be kept alive by a seemingly endless flow of federal cash. Indeed, the feds accepted as collateral for loans securities of virtually no worth and other properties that would never support private commercial lending. By propping up the major banks despite their irresponsible lending practices, the federal government has given them a privileged financial status whereby private lenders will give them terms far more favorable than their smaller competitors because they understand the federal government will not let them fail. Economist call this safety net a “moral hazard” (effective federal underwriting for heightened risk taking that permits these lenders to profit at above market rates of return in speculative investing without suffering financial liability for loss). The amounts doled out by the federal government to the banks could have paid off as much as one tenth of all of the delinquent mortgages, Bloomberg determined.
Rather than be forced to take their losses on their enormous junk portfolios and interbank lending practices, the top six banks were allowed to keep the junk portfolios, maintain their dubious lending practices, and turn to the Federal Reserve for money on demand whenever problems arose. Repeatedly when the banks should have gone under due to poor lending practices and grossly speculative profiteering, they were complimented by the Federal Reserve, rescued, and then allowed to tout the falsehood that their success came from sharp management rather than from secret loans. At the same time, these banks and others have shut down commercial lending for small businesses nationwide.
The “too big to fail” justification for the massive federal welfare dole to the top six United States banks was based on a faulty premise. Without question the demise of the leading banks would entail hardship, particularly for the employees of those institutions, but the long term prognosis was good for a restructuring of the financial market through bankruptcies and takeovers. The alternative to allowing the market to impose its own swift and harsh corrective involves imposing a massive burden on every American citizen for generations to come for the trillions spent to prop up a few dozen Wall Street moguls. Rather than have the taxpayers pay an inflated sum to keep the banks responsible for the financial crisis alive, the nation could have spared itself an assumption of massive debt and witnessed the demise of these banks and the rise of new competing financial institutions based on a solid financial model.
The Bush and Obama Administration’s role as Santa Claus for Wall Street has kept from Wall Street the needed lessons that would have otherwise come from the collapse of the major lending institutions. Painful as it may seem to some, it is far better to allow the market to experience a correction for profligate lending practices than to force the American taxpayers for generations to come to pay for the bad decisions made by a few and to let those few go without suffering a single consequence beyond temporary embarrassment.
In the two years since leaving the White House, former President Barack Obama has spent his time raising and solidifying his position in the uppermost echelons of the top one percent of Americans. Obama has raked in exorbitant amounts of money for public speaking events and made deals worth millions with multiple companies.
Despite his quip, made during the depths of the Great Recession, that “at a certain point you’ve made enough money,” there seems to be no such limit for the Obamas. His family has amassed so much wealth that even Obama himself said he was surprised in a speech in South Africa last year.
Since he left office, the former president has given an estimated 50 speeches a year to corporate audiences for hundreds of thousands of dollars per event. In 2017, the same year he left office, Obama was officially recognized as one of the top ten highest paid public speakers in the US.
Just last month, Obama was reported to have been paid nearly $600,000 to speak at the EXMA conference in Bogotá, Colombia. According to the Bogotá Post , EXMA is Colombia’s largest marketing and business event of the year and one of the largest in Latin America. Simply titled, “A conversation with President Barack Obama,” his talk purportedly addressed “influential growth strategies” in marketing and other aspects of the marketing economy.
Colombia is infamous for the corruption prevalent in its public sector and military,
which costs the country $17 billion a year, equivalent to 5.3 percent of its GDP.
Colombia exports half of the world’s cocaine and its drug cartels have been known
to have a hand in the government. Corruption and drug money are so rampant that
Colombia’s Inspector General likened it to “the new cartel.”
While Obama warns of the danger of “exploding inequality” in his speeches, the massive sum granted to him for one night in Bogotá is more than 10 times what the typical household in the US makes in a year, and 72 times the average worker’s annual income in Colombia.
Notably, Obama’s purse was nearly triple the amount Hillary Clinton was paid for her notorious speeches to Goldman Sachs that revealed her and the Democratic Party as Wall Street stooges. Former President Bill Clinton was paid just $200,000 per speech when he toured Latin America in 2005.
A key factor in Obama’s newfound and growing wealth are those who profited from his presidency. A number of his public speeches have been given to big Wall Street firms and investors. Obama has given at least nine speeches to Cantor Fitzgerald, a large investment and commercial real estate firm, and other high-end corporations. According to records, each speech has been at least $400,000 a clip.
During his presidency, Obama bragged that his administration was “the only thing
between [Wall Street] and the pitchforks.”
In fact, Obama handed the robber barons and outright criminals responsible for the 2008–09 financial crisis a multi-trillion-dollar bailout. His administration oversaw the largest redistribution of wealth in history from the bottom to the top one percent, spearheading the attack on the living standards of teachers and autoworkers.
Under Obama’s watch the stock markets soared as the Dow Jones Industrial Average increased by 149 percent. Meanwhile, the “war on terror” in the Middle East was expanded with Obama becoming the first president to spend every day of his two terms at war, much to the delight of the military-industrial complex.
As the wars raged on and the financial oligarchs fattened themselves off the ever-increasing mountain of wealth being concentrated at the top of society, real wages stagnated and an unprecedented opioid overdose crisis spun out of control. Rising numbers of “deaths of despair” during Obama’s tenure, particularly among the working class, resulted in a decline in life expectancy unprecedented in the modern era.
In addition to monetary rewards for his service to the financial elite and military-intelligence apparatus, Obama has been lavishly feted by socialites and billionaires such as Richard Branson. Obama was Branson’s special guest in 2017 on a private island where the pair were seen kite surfing and enjoying the amenities of Branson’s exclusive resort.
Michelle Obama has also benefited after the family’s departure from the White House. The couple signed a $65 million book deal with publishing company Penguin Random House for their political memoirs. Michelle’s memoir “Becoming” was the best-selling book of 2018 with over 10 million copies sold. The pair also signed multi-year deals with Netflix and Spotify to produce content aimed at “fostering dialogue” and promoting diversity in entertainment.
Obama’s lucrative post-White House career hobnobbing with the corporate, entertainment and financial elite epitomizes the revolving door relationship between the US government and the private sector. Obama’s rewards are simply retroactive bribery for services rendered to the capitalist elite, who have welcomed him with open arms.
In the two years since leaving the White House, former President Barack Obama has spent his time raising and solidifying his position in the uppermost echelons of the top one percent of Americans. Obama has raked in exorbitant amounts of money for public speaking events and made deals worth millions with multiple companies.
Despite his quip, made during the depths of the Great Recession, that “at a certain point you’ve made enough money,” there seems to be no such limit for the Obamas. His family has amassed so much wealth that even Obama himself said he was surprised in a speech in South Africa last year.
Since he left office, the former president has given an estimated 50 speeches a year to corporate audiences for hundreds of thousands of dollars per event. In 2017, the same year he left office, Obama was officially recognized as one of the top ten highest paid public speakers in the US.
Just last month, Obama was reported to have been paid nearly $600,000 to speak at the EXMA conference in Bogotá, Colombia. According to the Bogotá Post , EXMA is Colombia’s largest marketing and business event of the year and one of the largest in Latin America. Simply titled, “A conversation with President Barack Obama,” his talk purportedly addressed “influential growth strategies” in marketing and other aspects of the marketing economy.
Colombia is infamous for the corruption prevalent in its public sector and military,
which costs the country $17 billion a year, equivalent to 5.3 percent of its GDP.
Colombia exports half of the world’s cocaine and its drug cartels have been known
to have a hand in the government. Corruption and drug money are so rampant that
Colombia’s Inspector General likened it to “the new cartel.”
While Obama warns of the danger of “exploding inequality” in his speeches, the massive sum granted to him for one night in Bogotá is more than 10 times what the typical household in the US makes in a year, and 72 times the average worker’s annual income in Colombia.
Notably, Obama’s purse was nearly triple the amount Hillary Clinton was paid for her notorious speeches to Goldman Sachs that revealed her and the Democratic Party as Wall Street stooges. Former President Bill Clinton was paid just $200,000 per speech when he toured Latin America in 2005.
A key factor in Obama’s newfound and growing wealth are those who profited from his presidency. A number of his public speeches have been given to big Wall Street firms and investors. Obama has given at least nine speeches to Cantor Fitzgerald, a large investment and commercial real estate firm, and other high-end corporations. According to records, each speech has been at least $400,000 a clip.
During his presidency, Obama bragged that his administration was “the only thing
between [Wall Street] and the pitchforks.”
In fact, Obama handed the robber barons and outright criminals responsible for the 2008–09 financial crisis a multi-trillion-dollar bailout. His administration oversaw the largest redistribution of wealth in history from the bottom to the top one percent, spearheading the attack on the living standards of teachers and autoworkers.
Under Obama’s watch the stock markets soared as the Dow Jones Industrial Average increased by 149 percent. Meanwhile, the “war on terror” in the Middle East was expanded with Obama becoming the first president to spend every day of his two terms at war, much to the delight of the military-industrial complex.
As the wars raged on and the financial oligarchs fattened themselves off the ever-increasing mountain of wealth being concentrated at the top of society, real wages stagnated and an unprecedented opioid overdose crisis spun out of control. Rising numbers of “deaths of despair” during Obama’s tenure, particularly among the working class, resulted in a decline in life expectancy unprecedented in the modern era.
In addition to monetary rewards for his service to the financial elite and military-intelligence apparatus, Obama has been lavishly feted by socialites and billionaires such as Richard Branson. Obama was Branson’s special guest in 2017 on a private island where the pair were seen kite surfing and enjoying the amenities of Branson’s exclusive resort.
Michelle Obama has also benefited after the family’s departure from the White House. The couple signed a $65 million book deal with publishing company Penguin Random House for their political memoirs. Michelle’s memoir “Becoming” was the best-selling book of 2018 with over 10 million copies sold. The pair also signed multi-year deals with Netflix and Spotify to produce content aimed at “fostering dialogue” and promoting diversity in entertainment.
Obama’s lucrative post-White House career hobnobbing with the corporate, entertainment and financial elite epitomizes the revolving door relationship between the US government and the private sector. Obama’s rewards are simply retroactive bribery for services rendered to the capitalist elite, who have welcomed him with open arms.
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.)”
http://mexicanoccupation.blogspot.com/2013/06/the-democrat-party-party-for-illegals.html
CHICAGO HUCKSTER or simply a PSYCHOPATH?
THE RISE TO POWER OF BANKSTER-OWNED BARACK OBAMA
'Incompetent' and 'liar' among most frequently used words to describe the president: Pew Research Center
http://mexicanoccupation.blogspot.com/2013/06/pew-american-people-legals-see-obama-as.html
The larger fear is that Obama might be just another corporatist, punking voters much as the Republicans do when they claim to be all for the common guy.
CRONY CAPITALISM ...the rise of Barack Obama and the fall of America!
OBAMA'S ASSAULT ON AMERICA -WHY WALL STREET, ILLEGALS, CRIMINAL BANKSTERS and the 1% LOVE HIM, AND THE MIDDLE CLASS GETS THE SHAFT TO PAY FOR HIS CRONY CAPITALISM
http://mexicanoccupation.blogspot.com/2013/07/obamas-looting-of-america-crony.htm l
CEO pay is higher than ever, as is the chasm separating the rich and super-rich from everyone else. The incomes of the top 1 percent grew more than 11 percent between 2009 and 2011—the first two years of the Obama “recovery”—while the incomes of the bottom 99 percent actually shrank.
Meanwhile, Obama is pressing forward with his proposal, outlined in his budget for the next fiscal year, to slash $400 billion from Medicare and $130 billion from Social Security… AS WELL AS WIDER OPEN BORDERS, NO E-VERIFY, NO LEGAL NEED APPLY TO KEEP WAGES DEPRESSED
OBAMA AND BIDEN: 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.
http://mexicanoccupation.blogspot.com/2014/10/how-barack-obama-and-his-crony.html
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.
Wealth concentration increases in US. https://mexicanoccupation.blogspot.com/2019/02/staggering-concentration-of-wealth-in.html
The latest research on wealth inequality by University of California economics professor Gabriel Zucman underscores one of the key social and economic trends since the global financial crisis of 2008. Those at the very top of society, who benefited directly from the orgy of speculation that led to the crash, have seen their wealth accumulate at an even faster rate, while the mass of the population has suffered a major decline.
The past 40 years have seen the consolidation of a plutocratic elite, which has subordinated every aspect of American society to a single goal: amassing ever more colossal amounts of personal wealth. The top one percent have captured all of the increase in national income over the past two decades, and all of the increase in national wealth since the 2008 crash.
Joe Biden Fundraises with Wall Street During Donald Trump Rally
https://www.breitbart.com/politics/2019/06/18/joe-biden-fundraises-with-wall-street-during-donald-trump-rally/
Scott Olson/Getty Images
18 Jun 201984
Former Vice President Joe Biden attended a fundraiser with Wall Street donors during President Donald Trump’s campaign kickoff rally in Florida on Tuesday. It was the fourth New York City fundraiser for Joe Biden in about 24 hours.
The fundraiser was hosted by Eric Mindich, the CEO of Eton Park Capital Management with about 100 donors including Stephen Scherr, the executive vice president and chief financial officer of Goldman Sachs, H. Rodgin Cohen the senior chairman at Sullivan & Cromwell as well as former Clinton and Obama officials
Biden defended the wealthy in his speech to the donors but begged them to be aware of wealth inequality.
“You know what I’ve found is rich people are just as patriotic as poor people,” he said. “Not a joke. I mean, we may not want to demonize anybody who has made money. The truth of the matter is, you all, you all know, you all know in your gut what has to be done.”
Biden warned that if Trump won re-election, he would “literally fundamentally change the nature of who we are and how we function.”
Biden boasted that Obama leaned on him to help bring members of Congress together during their administration.
“Folks, I believe one of the things I’m pretty good at is bringing people together,” he said. “Every time we had trouble in the administration, who got sent to the Hill to settle it? Me. No, not a joke. Because I demonstrate respect for them.”
Despite a booming economy, many U.S. households are still just holding on "One of the premier institutions of big business, JP Morgan Chase, issued an internal report on the eve of the 10th anniversary of the 2008 crash, which warned that another “great liquidity crisis” was possible, and that a government bailout on the scale of that effected by Bush and Obama will produce social unrest, “in light of the potential impact of central bank actions in driving inequality between asset owners and labor." “Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes. This is the way a great country is raided by its elite.” ---- Karen McQuillan THEAMERICAN THINKER.com
“Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people. To destroy this invisible government, to befoul the unholy alliance between corrupt business and corrupt politics is the first task of the statesmanship of today.” THEODORE ROOSEVELT
Jim Carrey: America ‘Doomed’ If We Don’t Regulate Capitalism "
Obama's Wall Street cabinet
6 April 2009
A series of articles published over the weekend, based on financial disclosure reports released by the Obama administration last Friday concerning top White House officials, documents the extent to which the administration, in both its personnel and policies, is a political instrument of Wall Street.
Policies that are extraordinarily favorable to the financial elite that were put in place over the past month by the Obama administration have fed a surge in share values on Wall Street. These include the scheme to use hundreds of billions of dollars in public funds to pay hedge funds to buy up the banks’ toxic assets at inflated prices, the Auto Task Force’s rejection of the recovery plans of Chrysler and General Motors and its demand for even more brutal layoffs, wage cuts and attacks on workers’ health benefits and pensions, and the decision by the Financial Accounting Standards Board (FASB) to weaken “mark-to-market” accounting rules and permit banks to inflate the value of their toxic assets.
At the same time, Obama has campaigned against restrictions on bonuses paid to executives at insurance giant American International Group (AIG) and other bailed-out firms, and repeatedly assured Wall Street that he will slash social spending, including Medicare, Medicaid and Social Security.
The new financial disclosures reveal that top Obama advisors directly involved in setting these policies have received millions from Wall Street firms, including those that have received huge taxpayer bailouts.
The case of Lawrence Summers, director of the National Economic Council and Obama’s top economic adviser, highlights the politically incestuous character of relations between the Obama administration and the American financial elite.
Last year, Summers pocketed $5 million as a managing director of D.E. Shaw, one of the biggest hedge funds in the world, and another $2.7 million for speeches delivered to Wall Street firms that have received government bailout money. This includes $45,000 from Citigroup and $67,500 each from JPMorgan Chase and the now-liquidated Lehman Brothers.
For a speech to Goldman Sachs executives, Summers walked away with $135,000. This is substantially more than double the earnings for an entire year of high-seniority auto workers, who have been pilloried by the Obama administration and the media for their supposedly exorbitant and “unsustainable” wages.
Alluding diplomatically to the flagrant conflict of interest revealed by these disclosures, the New York Times noted on Saturday: “Mr. Summers, the director of the National Economic Council, wields important influence over Mr. Obama’s policy decisions for the troubled financial industry, including firms from which he recently received payments.”
Summers was a leading advocate of banking deregulation. As treasury secretary in the second Clinton administration, he oversaw the lifting of basic financial regulations dating from the 1930s. The Times article notes that among his current responsibilities is deciding “whether—and how—to tighten regulation of hedge funds.”
Summers is not an exception. He is rather typical of the Wall Street insiders who comprise a cabinet and White House team that is filled with multi-millionaires, presided over by a president who parlayed his own political career into a multi-million-dollar fortune.
Michael Froman, deputy national security adviser for international economic affairs, worked for Citigroup and received more than $7.4 million from the bank from January of 2008 until he entered the Obama administration this year. This included a $2.25 million year-end bonus handed him this past January, within weeks of his joining the Obama administration.
Citigroup has thus far been the beneficiary of $45 billion in cash and over $300 billion in government guarantees of its bad debts.
David Axelrod, the Obama campaign’s top strategist and now senior adviser to the president, was paid $1.55 million last year from two consulting firms he controls. He has agreed to buyouts that will garner him another $3 million over the next five years. His disclosure claims personal assets of between $7 and $10 million.
Obama’s deputy national security adviser, Thomas E. Donilon, was paid $3.9 million by a Washington law firm whose major clients include Citigroup, Goldman Sachs and the private equity firm Apollo Management.
Louis Caldera, director of the White House Military Office, made $227,155 last year from IndyMac Bancorp, the California bank that heavily promoted subprime mortgages. It collapsed last summer and was placed under federal receivership.
The presence of multi-millionaire Wall Street insiders extends to second- and third-tier positions in the Obama administration as well. David Stevens, who has been tapped by Obama to head the Federal Housing Administration, is the president and chief operating officer of Long and Foster Cos., a real estate brokerage firm. From 1999 to 2005, Stevens served as a top executive for Freddie Mac, the federally-backed mortgage lending giant that was bailed out and seized by federal regulators in September.
Neal Wolin, Obama’s selection for deputy counsel to the president for economic policy, is a top executive at the insurance giant Hartford Financial Services, where his salary was $4.5 million.
Obama’s Auto Task Force has as its top advisers two investment bankers with a long resume in corporate downsizing and asset-stripping.
It is not new for leading figures from finance to be named to high posts in a US administration. However, there has traditionally been an effort to demonstrate a degree of independence from Wall Street in the selection of cabinet officials and high-ranking presidential aides, often through the appointment of figures from academia or the public sector. In previous decades, moreover, representatives of the corporate elite were more likely to come from industry than from finance.
In the Obama administration such considerations have largely been abandoned.
This will not come as a surprise to those who critically followed Obama’s election campaign. While he postured before the electorate as a critic of the war in Iraq and a quasi-populist force for “change,” he was from the first heavily dependent on the financial and political backing of powerful financiers in Chicago. Banks, hedge funds and other financial firms lavishly backed his presidential bid, giving him considerably more than they gave to his Republican opponent, Senator John McCain.
Friday’s financial disclosures further expose the bankruptcy of American democracy. Elections have no real effect on government policy, which is determined by the interests of the financial aristocracy that dominates both political parties. The working class can fight for its own interests—for jobs, decent living standards, health care, education, housing and an end to war.
“Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).”
THE GLOBALIST LEGACY OF A SOCIOPATH
Obama warns against “cynicism” at Ohio State commencement address
7 May 2013
At a commencement address on Sunday at Ohio State University, President Barack Obama counseled students not to be “cynical” about government and politics.
There was an almost comically absurd element to Obama’s remarks, delivered with his characteristic demagogy and attempted gestures at profundity. In his first four years in office, along with the first months of his second term, Obama proceeded to systematically repudiate every campaign pledge and to deflate every illusion that, with the assistance of a highly coordinated marketing campaign, led millions of people, including a large number of young people, to vote for him in 2008.
The Obama administration handed trillions of dollars to the banks; has overseen a massive attack on public education; is leading the campaign to slash Social Security and Medicare, the core federal retirement and health care programs; expanded the war in Afghanistan, led a war against Libya, and is preparing a new war in Syria; and has asserted the right to kill anyone, anywhere, including US citizens, without due process.
After this record of service to the corporate elite, he declares: “When we turn away and get discouraged and cynical… we grant our silent consent to someone who will gladly claim it. That’s how we end up with lobbyists who set the agenda; and policies detached from what middle class families face every day; the well-connected who publicly demand that Washington stay out of their business—and then whisper in government’s ear for special treatment that you don’t get.”
The references to the “whispers” of the wealthy and well-connected is particularly rich, coming only a week after Obama nominated Penny Pritzker for commerce secretary. The selection of Pritzker—a longtime Obama confidant, billionaire heiress and owner of a private equity company—only underscores the fact that the administration is a government of, by and for the financial aristocracy. She will be the wealthiest person ever to serve in a presidential cabinet.
Previous to his appointment of Pritzker, Obama appointed Mary Jo White to head the Securities and Exchange Commission (SEC), one of the main financial regulators. White made millions of dollars as an attorney for banks responsible for the financial crisis, including Bank of America and JPMorgan Chase, whose CEO, Jamie Dimon, called White the “perfect choice” to head the SEC.
Practically every cabinet appointee of Obama’s has close personal connections to the ruling class, many having come directly from corporate boardrooms. Under Obama’s watch not a single executive at a major financial firm has been criminally tried, much less sent to jail, for their role in the financial crisis.
As a whole, Obama’s speech was characterized by a complete separation from the actual conditions facing the graduates he spoke to, who confront joblessness, falling wages, and a lifetime in debt. “You have every reason to believe that your future is bright,” he told his audience. “You’re graduating into an economy and a job market that is steadily healing.”
He added later, “The trajectory of this great nation should give you hope.” Really? This is under conditions in which over 11 percent of college graduates are unemployed a year after getting out of school, and another 16.1 percent simply drop out of the labor force, according to the Bureau of Labor Statistics. Most of those who do find a job are paid barely enough to get by, let alone pay off student loans. Wages for young adults are falling faster than any other part of the population, and are down by 6 percent in the past four years.
Most of the students that Obama addressed Sunday will be so burdened with debt that they will delay or have to completely put off starting a family or buying a home.
It is not surprising that Obama should neglect to dwell on this disastrous situation, because his administration bears responsibility for it. In the government-sponsored restructuring of the auto industry, the White House insisted that the wages of new-hires be slashed in half, setting the stage for vast reduction of wages throughout the economy.
Obama sought to paint opposition to the government’s violation of democratic rights as right-wing hysterics. “Unfortunately, you’ve grown up hearing voices that incessantly warn of government as nothing more than some separate, sinister entity,” Obama said. “They’ll warn that tyranny is always lurking just around the corner. You should reject these voices.”
This comes from a president who has personally overseen the illegal assassination of thousands of people, including at least three American citizens, in weekly “Terror Tuesday” meetings. The assertions of executive power have been systematically expanded, going beyond those claimed even by the Bush administration. The specter of a police state—the response of the ruling class to growing social opposition—is in fact lurking around the corner.
The moribund state of American politics, of which the Obama administration is a principal expression, is, according to the president, the fault of the American people. “Democracy doesn’t function without your active participation,” he admonished. If politicians “don’t represent you the way you want… you’ve got to let them know that’s not okay. And if they let you down, there’s a built-in day in November where you can really let them know that’s not okay.”
Such limp efforts to encourage illusions in the viability of the “democratic process” in the United States will not go very far. The experience of the past four years has not passed in vain. Millions of people, including many of those in the audience at Ohio State, are drawing the quite justified, if “cynical,” conclusion that the entire political and economic system is rotten to the core.
Mounting evidence of international collusion in Libor rigging - THE RAPE OF THE ECONOMY BY THE BANKSTERS
OBAMA’S CRONY BANKSTERS:
STILL SUCKING THE BLOOD OUT OF AMERICA
http://mexicanoccupation.blogspot.com/2014/01/fifty-years-since-johnsons-declaration.html
This manufactured crisis has, in turn, been exploited by the Obama administration and both big business parties to hand over trillions in pension funds and other public assets to the financial kleptocracy that rules America.
“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes. This is the way a great country is raided by its elite.” ---- Karen McQuillan THEAMERICAN THINKER.com
BANKSTER SOCIALISM
Dimon’s bank received tens of billions of dollars in government bailouts and many billions more from the Obama administration’s ultra-low interest rate and “quantitative easing” money-printing policies. He told his shareholders that “socialism inevitably produces stagnation, corruption” and “authoritarian government,” and would be “a disaster for our country.”… UNLESS IT IS SOCIALISM FOR BANKSTERS AND WALL STREET!
"This paved the way for the elevation of Trump, the personification of the criminality and backwardness of the ruling oligarchy."
BLOG: THE DEMOCRAT PARTY OF CRONY CAPITALISM IS THE PARTY OF BANKSTERS AND BOTTOMLESS BANKSTER BAILOUTS... AND NO PRISON TIME!
Former adviser to President Obama and investor Robert Wolf told Politico
“I don’t think the stereotypes of the industry serve the same purpose as they used to,” Wolf said. “People who work in corporate America and financial services may have the same views that she does on 95 percent of the issues such as income inequality, student loans, climate change, and others.”
Wall Street and Warren have at least one major policy initiative in common: A full repeal of Trump’s illegal and legal immigration reforms.
This month, Warren released her immigration platform that includes increasing overall legal immigration to the U.S. to provide business with an even greater flow of foreign workers to hire over Americans, as well as a decriminalization of illegal immigration, an amnesty for all illegal aliens in the country, and an end of Trump’s reforms such as his immigration ban from terrorist-sponsored countries and reduction of the refugee resettlement program.
Like Warren, Wall Street executives have railed against Trump’s immigration agenda — demanding that his zero-tolerance policy at the U.S.-Mexico border be ended and opposing his travel ban.
JPMorgan Chase CEO Jamie Dimon has supported amnesty for illegal aliens since at least 2016 when he announced support for the infamous “Gang of Eight” amnesty, saying, “Let them stay and let them build companies.”
Last month, Dimon said amnesty for illegal aliens was necessary to grow the economy, saying, “If we do these policies right, America will be growing a lot faster.”
Some of the top multinational banks — JPMorgan Chase, Citigroup, Goldman Sachs, and Morgan Stanley — have come out against Trump’s travel ban that effectively stopped all immigration from a handful of foreign countries that sponsor terrorism.
“This is not a policy we support, and I would note that it has already been challenged in federal court, and some of the order has been enjoined at least temporarily,” former Goldman Sachs CEO Lloyd Blankfein wrote in a letter at the time. “Let me close by quoting from our business principles: ‘For us to be successful, our men and women must reflect the diversity of the communities and cultures in which we operate … Being diverse is not optional; it is what we must be.'”
Meanwhile, Citigroup has promoted mass immigration as a necessary component to growing the American economy in terms of increasing GDP. A report released by executives last year championed migration into the U.S., the United Kingdom, and Germany.
For decades, the big business lobby, Wall Street, and donor class have said mass immigration is crucial to growing GDP in the U.S. though research has shown that increasing legal immigration levels to an enormous ten million admissions a year would only grow GDP by about 2.5 percent. Meanwhile, Trump’s low-migration, high-wage economy has translated to 3.2 percent annual economic growth.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder .
No comments:
Post a Comment