UNDER OBAMA, THE RICH ARE GETTING RICHER, CRIMINAL BANKSTERS ARE RAKING IN THE LOOT, AND ALL ARE HANDING PILES OF IT BACK TO OBAMA FOR A SECOND TERM OF PILLAGE!
WALL ST LOVES THE WAY OBAMA’S LA RAZA INFESTED ADMINISTRATION HAS KEEP WAGES DEPRESSED WITH HORDES OF ILLEGALS!
NO PRESIDENT IN HISTORY HAS SABOTAGED THIS NATION’S NATIONAL SECURITY MORE THAN BARACK OBAMA! THERE IS A REASON WHY THE MEXICAN DRUG CARTELS ENDORSE OBAMA FOR A SECOND TERM. THERE IS A REASON WHY THE FASTEST GROWING POLITICAL PARTY IN AMERICA IS NOT THE TEA BAGGERS! IT IS THE MEXICAN SUPREMACIST FASCIST PARTY of LA RAZA, “THE RACE”! IT IS FUNDED BY YOUR TAX DOLLARS HANDED OUT BY OBAMA WITHOUT YOUR VOTE.
THERE IS A REASON WHY OBAMA PUT A LA RAZA SUPREMACIST, HILDA SOLIS, IN AS SEC. OF (ILLEGAL) LABOR… IT’S ALL ABOUT PUTTING ILLEGALS IN OUR JOBS TO KEEP WAGES DEPRESSED!
BUY THE LA RAZA VOTE WITH AN AMERICAN JOB! THAT IS BARACK OBAMA!
*
http://mexicanoccupation.blogspot.com/2011/11/poverty-for-americans-legals-soars-as.html
*
NO ADMIN IN HISTORY HAS BEEN MORE INFESTED WITH LA RAZA THAN OBAMA’S! HIS SEC. OF (ILLEGAL) LABOR IS A LA RAZA SUPREMACIST, HILDA SOLIS. HER JOB IS TO MAKE SURE LA RAZA GETS THE JOBS!
*
The Obama administration and both parties in Congress, as well as every level of state and local government, are agreed on one point: nothing can stand in the way of the wealthy enriching themselves, and far from any new social reforms being envisioned, all existing programs “are on the table [i.e., the chopping block].”
*
OECD says economic slump will deepen throughout the world
By Barry Grey
15 November 2011
The Organization for Economic Cooperation and Development (OECD) released a report Monday forecasting a further slowdown in the world’s largest economies. The Paris-based group comprises 34 countries, nearly all the major industrialized countries, but excluding China, Brazil and India.
The OECD’s survey of composite leading indicators (CLIs) for September, which predicts economic trends some six months in advance, shows economic activity slowing in North America, Europe, major parts of South America and most of Asia, including China.
The OECD report is the latest in a series of economic analyses and forecasts indicating that the anemic recovery from the financial crash and recession of 2008-2009 has run its course and is giving way to a new and even deeper global economic slump.
The organization said the CLI index for its member countries—including the US, Canada, Mexico, Chile, Germany, Britain, France, Italy, Greece, Spain, the Netherlands, Turkey, Israel, Japan, South Korea, Australia and New Zealand—fell to 100.4 in September from 100.9 in August. It was the seventh straight monthly decline in the CLI for OECD states. The measure for major developing countries outside the organization also pointed to a further slowdown.
“Compared to the last month’s assessment,” the OECD said, “the CLIs point more strongly to slowdowns in all major economies.”
The leading indicators for the US, Russia and Japan fell from August but remained above the long-term economic trend for each country, which the OECD designates as the 100 level, regardless of the actual rate of growth. These three countries, according to the report, face “slowdowns in growth towards long-term trends.”
The CLIs for Canada, France, Italy, Britain, Brazil, China, India and the euro zone all fell below the 100 level. The measure for Germany plunged from 100.4 to 99.1. Of this second group, the OECD said the indicators “point to economic activity falling below long-term trend.”
In a further sign of decelerating growth, the OECD reported that the rate of new business start-ups has fallen this year after rising in 2010.
Monday’s report underscores the warning given by the organization last month that developed economies face two years of weak growth and continued high unemployment, and the outlook could worsen if the euro zone fails to contain its debt crisis. The OECD at the time predicted that the Group of Seven largest economies would grow by just 0.2 percent in the final three months of 2011, and the German economy would contract by 1.4 percent.
The bleak outlook was reinforced by another report released Monday showing a sharp fall in euro zone factory output in September. Eurostat, the European Union’s statistical office, said industrial production in the 17 nations that share the common European currency decreased by a much larger than expected 2 percent compared with August—the biggest monthly fall since September 2009.
Production fell particularly precipitously in Italy (-4.8 percent) and Portugal (-5.8 percent). Industrial production in the euro zone remains substantially below its peak in 2008.
Also on Monday, researchers at the Federal Reserve Bank of San Francisco said that the odds of a return to actual shrinkage in economic output in the US in early 2012 now exceed 50 percent. Last year the authors of the new report estimated the chances that the US would fall into a new recession in the first six months of 2012 at one-in-two. They attributed the increased odds to the European debt crisis and its impact on the “fragile state of the US economy.”
Last week, the European Commission issued a report warning that Europe’s gross domestic product was “now projected to stagnate until well into 2012.” Economic Affairs Commissioner Olli Rehn told a press conference, “Growth has stalled in Europe and there is a risk of a new recession.” Rehn said several European Union countries would see their economies contract.
He was echoing the earlier remarks of Mario Draghi, the new president of the European Central Bank, who predicted the euro zone would fall into a “mild recession” by the end of this year.
The EU report forecast growth across the euro zone in 2012 plummeting to 0.5 percent, a sharp downgrade from its prediction six months ago of 1.8 percent. The forecast for 2011 was also revised downward.
The US Federal Reserve downgraded its forecast for US growth at the last meeting of its policy-making committee earlier this month. It said the US economy would expand between 2.5 percent and 2.9 percent next year, a full percentage point lower than predicted last June. For all of 2011 the economy is expected to grow only 1.6 percent to 1.7 percent.
The Fed also sharply raised its forecast for unemployment in the US. It projected that the official jobless rate would be around 8.6 percent at the end of 2012. In its June forecast, the Fed said joblessness would fall to around 8 percent by the end of next year.
All of these projections underestimate the crisis and the likely depth of the next stage of the slump. The austerity policies being pursued in the US and Europe at the behest of the banks and big bondholders can only plunge the world economy deeper into depression, as tens of millions are thrown into poverty and mass consumption is driven down in order to protect the investments of the financial elite.
The new “technocratic” governments installed in Greece and Italy will set the precedent for deeper cuts in social programs, jobs and wages across Europe, North America and much of Asia. The Wall Street Journal reported Monday having seen a letter sent Saturday by outgoing Economy Minister Giulio Tremonti to the European Commission pledging to raise the retirement age in Italy and cut 300,000 public-sector jobs by 2014.
*
http://mexicanoccupation.blogspot.com/2011/11/unemployment-global-financial.html
*
THERE’S A REASON WHY THE BANKSTERS AND THE RICH WANT MORE OF OBAMA! NO PRESIDENT HAS TAKEN MORE FROM THE VERY CRIMINAL BANKSTERS HE SAVED, THAT THIS “CHANGE” CLOWN, BUSH’S THIRD TERM!
NOW OBAMA ONLY NEEDS THE VOTES OF ILLEGALS!
TOWARDS THAT END HE HAS FOCUSED ! ALL ! JOBS PLAN ON PUTTING ILLEGALS IN OUR JOBS. HIS SEC. OF LABOR IS A RACIST LA RAZA SUPREMACIST, HILDA SOLIS.
OBAMA HAS NOW SUED ON BEHALF OF HIS LA RAZA PARTY BASE 3 STATES: ARIZONA, ALABAMA, AND NORTH CAROLINA.
OBAMA AND HIS LA RAZA DEMS, FEINSTEIN, BOXER, REID and PELOSI HAVE ALL SABOTAGED OUR BORDERS. PELOSI VOWED THE WALL WOULD NEVER BE COMPLETED. OBAMA STOPPED IT HIS FIRST DAYS IN OFFICE. OBAMA HAS PUMPED BILLIONS INTO WAR OVER IN THE MIDDLE EAST, AND TAKEN GUARDS OFF OUR BORDERS BECAUSE MEXICO AND LA RAZA FIND THEM INCONVENIENT TO THE MEXICAN INVASION AND OCCUPATION!
WE CAN’T SAVE OUR COUNTRY UNTIL WE RID OURSELVES OF THE LA RAZA DEMS, THE BANKSTERS AND 40 MILLION HEAVY BREEDING LA RAZA SUPREMACIST!
*
“There is, however, nothing paradoxical about this. The crash of 2008 was set off by the collapse of an enormous speculative bubble. Since that time, world governments, led by Washington, have scrambled to ensure the wealth of the very financial aristocracy that created the crisis, at the direct expense of the vast majority of the population.”
Unemployment and the global financial aristocracy
2 November 2011
The International Labour Organization’s report on global unemployment, released Monday, paints a stark picture of world capitalism.
Three years after the onset of the economic crisis in 2008, the global jobs situation is disastrous. According to the ILO, 80 million jobs would have to be added in the next two years just to reach pre-crisis employment levels. Basing itself on extraordinarily optimistic assumptions, the ILO anticipates that only half that number will be created.
In the advanced industrial countries, including the United States and Europe, there are 13 million fewer jobs now then four years ago. Employment in these countries is not expected to recover until well past 2016. Youth unemployment is above 20 percent, and long-term unemployment has soared to record heights. (See, “ILO report warns of sharp employment downturn, social unrest“)
Beyond the immediate indicators of social distress—to which many more could be added—the ILO report points to an unprecedented state of global class relations. Conditions are building up for a social explosion on a world scale.
One of the ILO’s comments is especially revealing. Its report refers to the “paradox” of the past three years; that “the impact of the global economic crisis of 2007-08 on the financial sector was short-lived initially—despite it being at the very origin of the downturn.”
There is, however, nothing paradoxical about this. The crash of 2008 was set off by the collapse of an enormous speculative bubble. Since that time, world governments, led by Washington, have scrambled to ensure the wealth of the very financial aristocracy that created the crisis, at the direct expense of the vast majority of the population.
Unlimited funds have been turned over to the banks, with no strings attached, in the form of direct bailouts and cheap cash. In the United States alone, some $14 trillion has been made available. The argument advanced to justify this transfer of wealth—that it was necessary to revive economic growth and “create jobs”—has proven a fraud. The funds have simply been funneled back into the financial system and the pocket books of the ruling elite.
The ILO complains that even non-financial institutions—which, in the US in particular, have record cash hoards—have shunned productive investment in favor of stock buybacks and other financial transactions. Actual production is not considered sufficiently profitable.
The response of the ruling class to the financial crisis has led not only to an unprecedented decline or even collapse in the living standards of workers all over the world; it has also failed to resolve any of the contradictions that led to the crisis in the first place. Bad assets have been transferred to governments, which now face bankruptcy, most immediately in Europe. The financial system itself, heavily invested in government debt, stands on the brink of another collapse.
Every dollar handed to the financial aristocracy must in turn be extracted from the flesh of the working class. Austerity measures have only undermined growth, depleting government treasuries, and thus requiring new doses of austerity. “In short,” the ILO writes, “there is a vicious cycle of a weaker economy affecting jobs and society, in turn depressing real investment and consumption, thus the economy and so on.”
Events Tuesday brought out sharply the relationship of the financial aristocracy to the overwhelming majority of the population. For his own purposes, Greek Prime Minister George Papandreou proposed to put the most recent bailout/austerity scheme to a referendum. Financial markets reacted with horror at the prospect of the Greek or any other population having some democratic say on the course of events. The major powers and their propaganda machines mobilized themselves, insisting that the package had to be pushed through at any cost, and by the end of the day the future of the Greek government was in question.
At the same time, the divisions among these powers—over who will be forced to foot the bill and who will get the biggest share of the spoils—has precluded any coordinated international response. The crisis of the eurozone points to the reemergence of national conflicts, which in the 20th century sparked two catastrophic world wars.
The ILO’s prediction that the global conditions are producing conditions for increased “social unrest” now has the character of a truism. Indeed, 2011 has already witnessed a significant upturn in the global class struggle, beginning in Tunisia and Egypt in January and February, and extending to Europe, the United States and Latin America. The Occupy Wall Street movement is itself an initial expression of the reemergence of explosive class struggles at the center of world capitalism, unlike anything that has been seen in generations.
The financial aristocracy stands as an absolute barrier to even the most trifling reforms. “Everything for the rich!” is the watchword of each ruling elite. In the face of these class realities, the ILO’s counsel—that governments institute significant jobs programs and reverse the staggering growth of social inequality—is hopelessly utopian. In the United States, experience with the Obama administration, the government of “change,” has assuredly demonstrated the absolute stranglehold of the financial elite over the entire political system.
A crisis has a way of clarifying class relations. For three years, the ruling class and its political representatives have been free to advance their solution, a solution that has only paved the way for an even greater disaster. The response of the international working class now emerges as a new and decisive factor in the global situation.
There is no way out of the crisis in the interests of the working class that does not target the power of the corporate and financial elite and the social system that it defends. In fighting for their basic rights—including, above all, the right to a job—workers everywhere are driven into struggle against capitalism.
The success of that struggle requires above all the building of a new, socialist leadership in the international working class.
Joseph Kishore
*
MEXICANOCCUPATION.blogspot.com
HOW TO CREATE POVERTY FOR AMERICANS: EXPAND THE LA RAZA OCCUPATION, PUT ILLEGALS IN OUR JOBS, FORCE AMERICANS (LEGALS) TO PAY FOR LA RAZA HEAVY BREEDING, FREE MEDICAL, FREE EDUCATION, ENDLESS DREAM ACTS, MEX GANG CRIMES & PRISON COSTS.
VIVA LA RAZA? YOU’RE PAYING FOR IT EVEN IF YOU NEVER PAID FOR IT!
*
UNFETTERED IMMIGRATION MEANS POVERTY FOR AMERICANS… AND THEN WE GET THE BILLS TO PAY FOR THE LA RAZA WELFARE STATE!
*
Part 1
http://mexicanoccupation.blogspot.com/2011/11/unfettered-poverty-poverty-for.html
Part 2
http://mexicanoccupation.blogspot.com/2011/11/unfettered-immigration-poverty-for.html
No comments:
Post a Comment