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.)”
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Zogby: Obama is on the
verge of failure
JUNE 21, 2013
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Pollster John Zogby reports in our weekly White House
report card that dithering in the White House has President Obama losing
control of his agenda and administration.
REALITY OF OBAMA and HIS WALL STREET DONORS’ LOOTING OF
AMERICA:
OBAMA IS NOTHING BUT BUSH’S THIRD AND FOURTH TERMS!
25
Statistics About The U.S. Economy Barack Obama Does Not Want You To Know
The human capacity for self-delusion truly is remarkable. Most
people out there end up believing exactly what they want to believe even when
the truth is staring them right in the face. Take the U.S. economy for example.
Barack Obama wants to believe that his policies have worked and that the U.S.
economy is improving. So that is what he is telling the American people. The
mainstream media wants to believe that Barack Obama is a good president and
that his policies make sense and so they are reporting that we are experiencing
an economic recovery. A very large segment of the U.S. population still fully
supports Barack Obama and they want to believe that the economy is getting
better so they are buying the propaganda that the mainstream media is feeding
them. But is the U.S. economy really improving? The truth is that it is not.
The rate of employment among working age Americans is exactly where it was two
years ago and household incomes have actually gone down while Obama has been
president. Home ownership levels and home prices continue to decline.
Meanwhile, food and gasoline continue to become even more expensive. The
percentage of Americans that are dependent on the government is at an all-time
record high and the U.S. national debt has risen by more than 5 trillion
dollars under Obama. We simply have not seen the type of economic recovery that
we have seen after every other economic recession since World War II.
The horrible statistics about the U.S. economy that you are about
to read are not talked about much by the mainstream media. They would rather be
“positive” and “upbeat” about the direction that things are headed.
But lying to the American people is not going to help them. If
you are speeding in a car toward a 500 foot cliff, you don’t need someone to
cheer you on. Instead, you need someone to slam on the brakes.
The cold, hard reality of the matter is that the U.S. economy is
in far worse shape than it was four or five years ago.
We have never come close to recovering from the last recession
and another one will be here soon.
The following are 25 horrible statistics about the U.S. economy
that Barack Obama does not want you to know….
#1 The percentage of Americans that own homes is dropping rapidly.
According to Gallup, the current level of homeownership in the United States is the lowest that Gallup has ever
measured.
#2 Home prices in the U.S. continue to fall like a rock as well.
They have declined for six months in a row and are now down a total of 35 percent from the peak of the housing bubble. The last
time that home prices in the United States were this low was back in 2002.
#3 Last year, an astounding 53 percent of all U.S. college graduates under the age of 25 were
either unemployed or underemployed.
#4 Back in 2007, about 10 percent of all unemployed Americans had
been out of work for 52 weeks or longer. Today, that number is above 30 percent.
#5 When Barack Obama first became president, the number of
“long-term unemployed workers” in the United States was 2.6 million. Today, it
is 5.3 million.
#6 The average duration of unemployment in the United States is about three times as long as it was back in the year 2000.
#7 Despite what the mainstream media would have us to believe, the
truth is that the percentage of working age Americans that are employed is not
increasing. Back in March 2010, 58.5 percent of all working age Americans were employed.
In March 2011, 58.5 percent of all working age Americans were employed.
In March 2012, 58.5 percent of all working age Americans were employed.
So how can Barack Obama and the mainstream media claim that the employment
situation in the United States is getting better? The employment rate is still
essentially exactly where it was when the last recession supposedly ended.
#8 Back in 1950, more than 80 percent of all men in the United States had jobs.
Today, less than 65 percent of all men in the United
States have jobs.
#9 In 1962, 28 percent of all jobs in America were manufacturing
jobs. In 2011, only 9 percent of all jobs in America were manufacturing
jobs.
#11 According to one recent survey, approximately one-third of all Americans are not paying their
bills on time at this point.
#12 Since Barack Obama entered the White House, the price of
gasoline has risen by more than 100 percent.
#13 The student loan debt bubble continues to expand at a very
frightening pace. Recently it was announced that total student loan debt in the
United States has passed the one trillion dollar mark.
#14 Incredibly, one out of every four jobs in the United States
pays $10 an hour or less at this point.
#15 Household incomes all over the United States continue to fall.
After adjusting for inflation, median household income in America has declined
by 7.8 percent since December 2007.
#16 Over the past several decades, government dependence has risen
to unprecedented heights in the United States. The following is how I described
the explosive growth of social welfare benefits in one recent article….
Back in 1960, social welfare benefits made up approximately 10 percent of all salaries and
wages. In the year 2000, social welfare benefits made up approximately 21 percent of all salaries and
wages. Today, social welfare benefits make up approximately 35 percent of all salaries and
wages.
#17 In November 2008, 30.8 million Americans were on food stamps.
Today, more than 46 million Americans are on food
stamps.
#19 According to the U.S. Census Bureau, today 49 percent of all Americans live in a home that receives
some form of benefits from the federal government.
#20 Over the next 75 years, Medicare is facing unfunded liabilities
of more than 38 trillion dollars. That comes to $328,404 for each and every household in the United
States.
#21 During the first quarter of 2012, U.S. public debt rose by 359.1 billion dollars. U.S. GDP only rose by
142.4 billion dollars.
#22 At this point, the U.S. national debt is rising by more than 2 million dollars every single minute.
#23 The U.S. national debt has risen by more than 5 trillion dollars since the day that
Barack Obama first took office. In a little more than 3 years Obama has added
more to the national debt than the first 41 presidents combined.
#24 The Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S.
Treasury Department during 2011.
#25 The Federal Reserve continues to systematically destroy the value
of the U.S. dollar. Since 1970, the U.S. dollar has lost more than 83 percent of its value.
But the horrible economic statistics only tell part of the
story.
In communities all over America there is a feeling that
something fundamental has changed. Businesses that have been around for
generations are shutting their doors and there is a lot of fear in the air. The
following is a brief excerpt from a recent interview with
Richard Yamarone, the senior economist at Bloomberg Brief….
You have to listen to what the small businesses are telling you
and right now they are telling you, ‘Hey, I’m the head of a 3rd or 4th
generation, 75 or 100 year old business, and I’ve got to shut the doors’ or
‘I’ve got to let people go. And if I’m hiring anybody back, it’s only on a
temporary basis.’
Sometimes they do this through a hiring firm so that they can
sidestep paying unemployment benefit insurance. So that’s what’s really going
on at the grassroots level of the economy. Very, very, grossly different from
what you’re seeing in some of these numbers coming out in earnings releases.”
All over the country, millions of hard working Americans are
desperately looking for work. They have been told that “the recession is over”,
but they are still finding it incredibly difficult to find anyone that will
hire them. The following example is from a recent CNN article….
Joann Cotton, a 54-year-old Columbus, Mississippi, resident, was
one of those faces of poverty we met on the tour. Unemployed for three years,
Joann has gone from making “$60,000 a year to less than $15,000 overnight.” Her
husband is disabled and dependent on medicines the couple can no longer afford.
They rely on food stamps, which, Joann says, “is depressing as hell.”
Receiving government aid, however, has not been as depressing as
her job search. Joann says she has applied for at least 300 jobs. Even though
she can barely afford gas, she drives to the interviews only to learn that the
employers want to hire younger candidates at low wages.
The experiences have taken a toll: “I’ve aged 10 years in the
three years that I’ve been looking for a job,” Joann told us. “I want to get a
job so I can just relax and exhale … but I can’t. After a while you just give
up.”
Obama ran against Bush, but now governs like him
Steven Thomma | McClatchy Newspapers
WASHINGTON — He ran as the anti-Bush.
Silver-tongued, not tongue-tied. A team player on
the world stage, not a lone cowboy. A man who'd put a stop to reckless Bush
policies at home and abroad. In short, Barack Obama represented Change.
Well, that was then.
Now, on one major policy after another, President Barack Obama seems to be
morphing into George W. Bush.
On the nation's finances, the man who once ripped
Bush as a failed leader for seeking to raise the nation's debt ceiling now
wants to do it himself.
On terrorism, he criticized Bush for sending
suspected terrorists to Guantanamo Bay, Cuba, and denying them access to U.S.
civilian courts. Now he says he'll do the same.
On taxes, he called the Bush-era tax cuts for the
wealthy wrong, and lately began calling again to end them. But in December he
signed a deal with Republicans to extend them for two years, and recently he
called the entire tax cut package good for the country.
And on war, as a candidate he said that the
president didn't have authority to unilaterally attack a country that didn't
pose an imminent threat to the U.S., and even then the president should always
seek the informed consent of Congress. Last month, without a vote in Congress,
he attacked Libya, which didn't threaten the U.S.
Big differences remain between Obama and Bush, to
be sure. His two nominees to the Supreme Court differ vastly from Bush's picks.
Obama does want to end the tax cuts for the wealthy. He also pushed through a
massive overhaul of the nation's health insurance system.
Yet even on health insurance, his stand wasn't so
much a reversal of Bush's approach as an escalation. Bush also pushed through a
massive expansion of Medicare by adding a costly prescription drug benefit — at
the time, the biggest expansion of a federal entitlement since Lyndon Johnson's
Great Society. Indeed, some of the differences between the two presidents are
measured in gray, not black and white as once seemed the case.
Some of the changes in Obama can be attributed to
the passion of campaign rhetoric giving way to the realities of governing,
analysts say.
"He is looking less like a candidate and more
like a president," said Dan Schnur, the director of the Jesse M. Unruh
Institute of Politics at the University of Southern California. "He has
discovered that it's much easier to make promises on the campaign trail than it
is to keep them as president."
At the same time, some of the surprising continuity
of Bush-era policies can be tied to the way Bush and events set the nation's
course, particularly on foreign policy.
"Morphing into Bush was not a willful
act," said Aaron David Miller, a scholar at the Woodrow Wilson
International Center for Scholars. "It was acquiescence to the policies
his predecessor shaped and the cruel realities that Obama inherited."
For example, Obama found he couldn't easily close
the prison at Guantanamo Bay because he couldn't find a place, abroad or at
home, willing to take all the terrorist suspects held there.
"Bush created, on the military and security
side, new realities from which no successor, Democrat or Republican, could
depart, "Miller said. "It's like turning around an aircraft carrier.
It cannot happen quickly."
Among the ways Obama has reversed his earlier
promises and adopted, extended or echoed Bush policies:
DEBT
In 2006, Bush had cut taxes, gone to war, and
expanded Medicare, and increased the national debt from $5.6 trillion to $8.2
trillion. He needed approval from Congress to raise the ceiling for debt to $9
trillion.
The Senate approved the increase by a narrow vote
of 52-48.
Sen. Barack Obama, D-Ill., voted no.
"Increasing America's debt weakens us
domestically and internationally," Obama said in 2006. "Leadership
means that 'the buck stops here.' Instead, Washington is shifting the burden of
bad choices today onto the backs of our children and grandchildren. America has
a debt problem and a failure of leadership."
Now Obama's on the other side. He's increased the
national debt to $14 trillion, and needs Congress to approve more debt.
Moreover, Obama's aides now say that congressional meddling to use that needed
vote to wrangle budget concessions from the White House would be inappropriate
and risk financial Armageddon.
What about Obama's own vote against the president
in a similar situation? A mistake, the White House said.
TAXES
As a senator and presidential candidate, Obama
opposed extending the Bush tax cuts on incomes greater than $250,000 a year
past their expiration on Dec., 31, 2009.
In 2007, he said he was for "rolling back the
Bush tax cuts on the top 1 percent of people who don't need it." In a 2008
ad, he said, "Instead of extending the Bush tax cuts for the wealthiest,
I'll focus on you."
As president, Obama proposed letting those tax cuts
expire as scheduled, while also proposing to make permanent the Bush tax cuts
for incomes of less than $250,000.
But he didn't get Congress to approve that. When
the issue came to a head last December, Republicans insisted on extending all
of the tax cuts or none, and Obama went along lest the tax cuts on incomes
below $250,000 expire even briefly. His final deal with the Congress also added
a one-year cut in the payroll tax for Medicare and Social Security.
"What all of us care about is growing the
American economy and creating jobs for the American people," Obama said.
"Taken as a whole, that's what this package of tax relief is going to do.
It's a good deal for the American people."
He said again last week that he wants to let the
Bush tax cuts for the wealthy expire, this time on Dec. 31, 2012.
TERRORISTS
As a presidential candidate, Obama vowed a broad
reversal of Bush's policies toward suspected terrorists.
Most pointedly, he said he'd close the prison in
Cuba and try suspected terrorists in civilian courts, not in military
tribunals.
"I have faith in America's courts," he
said in a 2007 speech. "As president, I will close Guantanamo, reject the
Military Commissions Act, and adhere to the Geneva Conventions. Our
Constitution and our Uniform Code of Military Justice provide a framework for
dealing with the terrorists."
He ran into a torrent of opposition, however.
Members of Congress balked at transferring suspected terrorists to U.S.
prisons. New Yorkers balked when his administration said it would try accused
9/11 mastermind Khalid Sheikh Mohammed in a civilian court in lower Manhattan.
Last month, he changed course, saying he'd keep
Guantanamo Bay open, and would try Mohammed before a military court.
The reversal, said Rep. Peter King, R-N.Y., the
chairman of the House Committee on Homeland Security, "is yet another
vindication of President Bush's detention policies by the Obama
administration."
Echoing Bush, Obama's also asserted that he has the
power to hold suspected terrorists without charges or trial, and that he has
the power to kill U.S. citizens abroad if his government considers them a
terrorist threat.
WAR POWERS
During his campaign, Obama signaled that he'd be
far more circumspect than Bush was in using military power. He did say he'd
send more troops to Afghanistan, which he's done, and that he'd attack al Qaida
terrorists in Pakistan, which he's also done.
But he opposed the Iraq war from the start, and
said he didn't think the president should wage war for humanitarian purposes or
act without congressional approval, absent an imminent threat to the U.S.
"The president does not have power under the
Constitution to unilaterally authorize a military attack in a situation that
does not involve stopping an actual or imminent threat to the nation," he
told The Boston Globe in 2007.
"In instances of self-defense, the president
would be within his constitutional authority to act before advising Congress or
seeking its consent. History has shown us time and again, however, that
military action is most successful when it is authorized and supported by the
legislative branch. It is always preferable to have the informed consent of
Congress prior to any military action."
On March 19, the U.S. attacked Libya on
humanitarian grounds, absent any threat to the U.S. and without approval from
Congress.
ORGY OF GREED… Wall Street Celebrates Victory Over Their
Crimes on Americans! AND NO ONE SERVES THIS GREED MORE THAN BARACK OBAMA!
*
THE LOOTING of AMERICA UNDER OBAMANOMICS: WALL STREET CELEBRATES!
“On
the other side of the social divide is an uninhibited orgy of greed, documented
most recently by a Wednesday story in the New York Times (“Signs of
Swagger, Wallets out, Wall Street Celebrates.”
Meanwhile, Barack Obama
and his family continue to live the high life at the expense of the U.S.
taxpayer.
Even
many Democrats are starting to get very upset about this. The following is from
a recent article by Paul Bedard….
Blue
collar Democratic voters, stuck taking depressing “staycations” because they
can’t afford gas and hotels, are resentful of the first family’s 17 lavish
vacations around the world and don’t want their tax dollars paying for the
Obamas’ holidays, according to a new analysis of swing voters.
It simply is not
appropriate for the Obamas to be spending millions upon millions upon millions
of U.S. taxpayer dollars on luxury vacations when so many Americans are deeply
suffering.
But
Barack Obama does not want you to know about any of this stuff.
He just
wants you to buy his empty propaganda one more time so that he can continue to
occupy the White House for another four years.
OBAMA’S VISION OF AMERICA… one big CON
JOB of lies!
Honoring Dr. King… the Crony King Obama
sets economic supremacy for the 1% as the new goal of his OBAMAnomics for Wall
Street donors…
CRONY KING
OBAMA: CURL: The Obamas live the 1 percent life
WHAT WOULD DR. KING SAY TO THE FACE OF CRONY KING
OBAMA? ARE YOU REALLY GEORGE W. BUSH IN DRAG?
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Obama spoke as though these processes had nothing to
do with himself or his own actions. But everyone knows his White House has
overseen the transfer of trillions of taxpayer dollars to the financial
industry, while spearheading the gutting of workers’ wages and savage cuts in
jobs and social services.
JUDICIAL WATCH.org
ON THE OBAMA PRESIDENCY:
With trillion dollar bailouts, government-run
healthcare, banks and car companies, ACORN corruption, attacks on conservative
media, illegal alien amnesty, unprecedented and dangerous new rights for
terrorists, perks for campaign donors—this is the Obama legacy—and we haven't
even gotten through the first year of his presidency!
OBAMA’S ASSAULT on AMERICA – THE OBAMA DEPRESSION AS HIS BANKSTERS GET RICHER BY THE DAY AND ILLEGALS GET OUR JOBS!
HE
IS ONE OF THE MOST CORRUPT AND INCOMPETENT CON-JOBS TO OPERATE OUT OF THE WHITE
HOUSE. WHILE HIS CRIMINAL BANKSTER
DONORS LOOTED, HE SABOTAGED OUR BORDERS TO EASE MORE ILLEGALS INTO OUR JOBS AND
VOTING BOOTHS. THEN HE RETURNED TO HIS ASSAULT ON THE AMERICAN WORKER!
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Income inequality grows four times
faster under Obama than Bush
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.
JOBS – WORST UNDER OBAMA SINCE DEPRESSION!
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http://mexicanoccupation.blogspot.com/2013/08/two-thirds-of-all-jobs-under-obama-go.html
DURING OBAMA’S FIRST TERM 2/3s OF ALL JOBS WENT TO IMMIGRANTS, BOTH LEGAL AND ILLEGAL. FEDERAL WORKPLACE ENFORCEMENT of LAWS PROHIBITING THE EMPLOYMENT of ILLEGALS PLUMMETED 70%... AND OBAMA - HOLDER SABOTAGED E-VERIFY EVERYWHERE THEY COULD TO EASE MORE LA RAZA INTO OUR JOBS!
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
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The
goal of the Obama administration, working with the Republicans and local
governments, is to roll back the living conditions of the vast majority of the
population to levels not seen since the 19th century, prior to the advent of the
eight-hour day, child labor laws, comprehensive public education, pensions,
health benefits, workplace health and safety regulations, etc.
(MOST
OF THE FORTUNE 500 ARE GENEROUS DONORS TO THE MEXICAN FASCIST PARTY of LA RAZA
– IT’S ALL ABOUT KEEPING WAGES DEPRESSED)
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In
response to the ruthless assault of the financial oligarchy, spearheaded by
Obama, the working class must advance, no less ruthlessly, its own policy.
TWO YEARS OF OBAMA:
Fifteen million Americans
are out of work, thanks in part to reckless Wall Street activities. Yet
corporate profits are at record highs, companies are sitting on vast amounts of
cash, and, after a tough two years, business interests are again atop the
Washington power structure.
THE U.S. CHAMBER of COMMERCE,
LIKE OBAMA, ADVOCATES NO BORDERS WITH MEXICO, NO E-VERIFY, AND AMNESTY, OR AT
LEAST CONTINUED NON-ENFORCEMENT. IT’S ALL ABOUT KEEPING WAGES DEPRESSED!
Big business is back in business and looting big time under Obama!
By Dana Milbank
Wednesday, January 12, 2011;
Wednesday, January 12, 2011;
There
was a festive atmosphere at U.S. Chamber of Commerce headquarters Tuesday morning as the corporate lobby
delivered its annual "State of American Business" address.
Margaret
Spellings, the former Bush Cabinet officer who cashed out and joined the business group, made
the introductions, telling members that despite "the worst economic
climate since the Great Depression," the chamber had scored a "number
of legislative victories, tremendous success in the elections and another
strong year of fundraising."
Thanks
to the chamber, Spellings boasted, "the American business community always
has a seat at the table."
A seat? Business has just about all the seats at the table - and
more on back order.
Fifteen million Americans are out of work, thanks in part to reckless Wall Street
activities. Yet corporate profits are at record highs, companies are sitting on
vast amounts of cash, and, after a tough two years, business interests are
again atop the Washington power structure.
This return of corporate power comes in
part because the revolving door between government influence and corporate
paydays has begun to turn anew. Even President Obama has submitted to its
centrifugal force. His new White House chief of staff, William Daley, comes directly from
J.P. Morgan Chase. Daley scored that lucrative gig after serving as commerce
secretary during Bill Clinton's second term.
As
Daley came in through the revolving door, OMB Director Peter Orszag had just gone out. He cashed out to
become a vice chairman of Citigroup, where his government expertise should be
worth seven figures annually. One of Orszag's partners on Obama's economics
team, Larry Summers, is returning to Harvard - but that
won't stop him from delivering the keynote address to the Global Hedge Fund Summit in
Bermuda.
The
thrill of cashing out has been endorsed by Obama himself. Explaining press
secretary Robert Gibbs's decision to depart, the president told the New
York Times:
"He's had a six-year stretch now where basically he's been going 24/7 with
relatively modest pay." The poor Gibbs, who had been earning a
"modest" $172,200 a year, is now contemplating making much more
than that representing corporate clients.
At
the other end of Pennsylvania Avenue, corporate interests are becoming
increasingly brazen. Lobbyists have snagged key staff jobs in the new GOP House
leadership and chief-of-staff positions in many new lawmakers' offices. On the
day John Boehner was elected speaker last week, lobbyists were literally
strutting their stuff on the House floor.
Bob
Livingston, the former Republican congressman, was buttonholing members; he's
the head of a lobbying firm that advertises Livingston as "the only practicing former
chairman of the House Appropriations Committee." Also on the floor, Marty Russo, the longtime Democratic congressman
who had just stepped down as head of the lobbying giant Cassidy and Associates,
shook Boehner's hand.
A
House Republican source says Livingston left when informed that, as a
registered lobbyist, he was not allowed to be on the House floor.
Such
behavior by lobbyists - both registered lobbyists and unregistered corporate
"advisers" - has become more common. At last year's State of the
Union address, Post congressional correspondent Paul Kane observed, on the
House floor, former members Mike Ferguson, who runs a lobbying firm, and Jim
Greenwood, CEO of the biotech lobby. Kane has also spotted former senator Bill
Cohen, who runs a big lobbying and consulting firm, on the Senate floor; former
representative Sherry Boehlert, now a lobbyist, in the Speaker's Lobby off the
House floor; and lawmaker-turned-lobbyist Al Wynn entertaining clients in the
members' dining room.
The
Center for Responsive
Politics
has identified more than 340 former members of Congress, and 3,665 former
staffers, in lobbying or related fields. The few rules to slow the revolving
door do little, both because of the routine granting of waivers and because of
loose registration requirements for lobbying.
All
of this gave the business lobby much to celebrate as chamber members discussed
the State of American Business over mini-muffins and banana bread Tuesday
morning. Tom Donohue, the chamber's white-maned CEO, hailed
the "new tone coming from the White House" since the elections -
which the chamber influenced by spending tens of millions of dollars from
donors kept anonymous, Donohue explained, so opponents couldn't "demagogue
them." Donohue said he's "absolutely convinced" that the new
business-friendly White House will move his way on regulation and trade.
A
reporter asked Donohue for a suggestion of what corporate America, with its
record profits, should do to put people back to work. "I got to think
about this for a minute," Donohue said, then added: "I think the most
important thing to tell a company is to return a reasonable return to their
investors."
*
NEW YORK TIMES
January 10, 2010
Op-Ed Columnist
The Other Plot to Wreck America
THERE may not be a
person in America without a strong opinion about what coulda, shoulda been done
to prevent the underwear bomber from boarding that Christmas flight to Detroit.
In the years since 9/11, we’ve all become counterterrorists. But in the 16
months since that other calamity in downtown New York — the crash precipitated
by the 9/15 failure of Lehman Brothers — most of us are still ignorant about what Warren Buffett
called the “financial
weapons of mass destruction” that wrecked our economy. Fluent as we are in Al
Qaeda and body scanners, when it comes to synthetic C.D.O.’s and credit-default
swaps, not so much.
What we don’t know
will hurt us, and quite possibly on a more devastating scale than any Qaeda
attack. Americans must be told the full story of how
Wall Street gamed and inflated the housing bubble, made out like bandits, and
then left millions of households in ruin. Without that reckoning, there will be no public clamor for
serious reform of a financial system that was as cunningly breached as airline
security at the Amsterdam airport. And without reform, another massive attack
on our economic security is guaranteed. Now that it can count on government
bailouts, Wall Street has more incentive than ever to pump up its risks —
secure that it can keep the bonanzas while we get stuck with the losses.
The window for
change is rapidly closing. Health care, Afghanistan and the terrorism panic may
have exhausted Washington’s already limited capacity for heavy lifting,
especially in an election year. The White House’s chief economic hand, Lawrence
Summers, has repeatedly announced that “everybody agrees that the
recession is over” — which is technically
true from an economist’s perspective and certainly true on Wall Street, where
bailed-out banks are reporting record profits and bonuses. The contrary voices
of Americans who have lost pay, jobs, homes and savings are either patronized
or drowned out entirely by a political system where the banking lobby rules in
both parties and the revolving door between finance and government never stops
spinning.
It’s against this
backdrop that this week’s long-awaited initial public hearings of the Financial
Crisis Inquiry Commission
are so critical. This is the bipartisan panel that Congress mandated
last spring to
investigate the still murky story of what happened in the meltdown. Phil
Angelides, the former California treasurer who is the inquiry’s chairman, told
me in interviews late last year that he has been busy deploying a tough
investigative staff and will not allow the proceedings to devolve into a
typical blue-ribbon Beltway exercise in toothless bloviation.
He wants to examine the financial
sector’s “greed, stupidity, hubris and outright corruption” — from traders on
the ground to the board room. “It’s
important that we deliver new information,” he said. “We can’t just rehash what
we’ve known to date.” He understands that if he fails to make news or to tell
the story in a way that is comprehensible and compelling enough to arouse
Americans to demand action, Wall Street and Washington will both keep moving
on, unchallenged and unchastened.
Angelides gets it.
But he has a tough act to follow: Ferdinand Pecora, the legendary
prosecutor who served as
chief counsel to the Senate committee that investigated the 1929 crash as F.D.R.
took office. Pecora was a master of detail and drama. He riveted America even
without the aid of television. His investigation led to indictments, jail
sentences and, ultimately, key New Deal reforms — the creation of the
Securities and Exchange Commission and the Glass-Steagall Act, designed to
prevent the formation of banks too big to fail.
As it happened, a
major Pecora target was the chief executive of National City Bank, the
institution that would grow up to be Citigroup. Among other transgressions,
National City had repackaged
bad Latin American debt as new securities that it then sold to easily suckered investors during the
frenzied 1920s boom. Once disaster struck, the bank’s executives helped
themselves to millions of dollars in interest-free loans. Yet their own
employees had to keep ponying up salary deductions for decimated National City
stock purchased at a heady precrash price.
Trade bad Latin
American debt for bad mortgage debt, and you have a partial portrait of
Citigroup at the height of the housing bubble. The reckless Citi executives of
our day may not have given themselves interest-free loans, but they often
walked away with the short-term, illusionary profits while their employees were
left with shredded jobs and 401(k)’s. Among those Citi executives was Robert
Rubin, who, as the Clinton Treasury secretary, helped
repeal the last vestiges of Glass-Steagall after years of Wall Street assault. Somewhere Pecora is
turning in his grave
Rubin has never
apologized, let alone been held accountable. But he’s hardly alone. Even after
all the country has gone through, the titans who fueled the bubble are
heedless. In
last Sunday’s Times,
Sandy Weill, the former chief executive who built Citigroup (and recruited
Rubin to its ranks), gave a remarkable interview to Katrina Brooker blaming his
own hand-picked successor, Charles Prince, for his bank’s implosion. Weill said
he preferred to be remembered for his philanthropy. Good luck with that.
Among his causes
is Carnegie Hall, where he is chairman of the board. To see how far American
capitalism has fallen, contrast Weill with the giant who built Carnegie Hall. Not only is Andrew
Carnegie remembered for
far more epic and generous philanthropy than Weill’s — some
1,600 public libraries,
just for starters — but also for creating a steel empire that actually helped
build America’s industrial infrastructure in the late 19th century. At Citi,
Weill built little more than a bloated gambling casino. As Paul Volcker, the
regrettably powerless
chairman of Obama’s Economic Recovery Advisory Board, said recently, there is not “one shred of neutral
evidence” that any financial innovation of the past 20 years has led to
economic growth. Citi, that “innovative” banking supermarket, destroyed far
more wealth than Weill can or will ever give away.
Even now — despite
its near-death experience, despite the departures of Weill, Prince and Rubin —
Citi remains as imperious as it was before 9/15. Its current chairman, Richard
Parsons, was one of three executives (along with Lloyd Blankfein of Goldman
Sachs and John Mack of Morgan Stanley) who failed
to show up at the mid-December White House meeting where President Obama implored
bankers to increase lending. (The trio blamed fog for forcing them to
participate by speakerphone, but the weather hadn’t grounded their peers or
Amtrak.) Last week, ABC World News was also stiffed by Citi, which refused to
answer questions about its latest round of outrageous credit card rate
increases and instead e-mailed a statement blaming
its customers for
“not paying back their loans.” This from a bank that still owes
taxpayers $25 billion of
its $45
billion handout!
If Citi, among the
most egregious of Wall Street reprobates, feels it can get away with business
as usual, it’s because it fears no retribution. And it got more good news last
week. Now that Chris Dodd is vacating the Senate, his chairmanship of the
Banking Committee may
fall next year to Tim Johnson of South Dakota, home to Citi’s credit card operation. Johnson was the only
Senate Democrat to vote against Congress’s recent bill policing credit card
abuses.
Though bad history
shows every sign of repeating itself on Wall Street, it will take a
near-miracle for Angelides to repeat Pecora’s triumph. Our zoo of financial
skullduggery is far more complex, with many more moving pieces, than that of
the 1920s. The new inquiry does have subpoena power, but its entire budget, a
mere $8 million, doesn’t even match the lobbying expenditures for just three banks (Citi, Morgan
Stanley, Bank of America) in the first nine months of 2009. The firms under
scrutiny can pay for as many lawyers as they need to stall between now and Dec.
15, deadline day for the commission’s report.
More daunting
still is the inquiry’s duty to reach into high places in the public sector as well
as the private. The mystery of exactly what happened as TARP fell into place in
the fateful fall of 2008 thickens by the day — especially the
behind-closed-door machinations surrounding the government rescue of A.I.G. and
its counterparties. Last week, a Republican congressman, Darrell Issa of
California, released
e-mail showing that
officials at the New York Fed, then led by Timothy Geithner, pressured A.I.G.
to delay disclosing to the S.E.C. and the public the details on the billions of
bailout dollars it was funneling to its trading partners. In this backdoor
rescue, taxpayers unknowingly awarded banks like Goldman 100 cents on the
dollar for their bets on mortgage-backed securities.
Why was our money
used to make these high-flying gamblers whole while ordinary Americans received
no such beneficence? Nothing less than complete transparency will connect the
dots. Among the
big-name witnesses that the Angelides commission has called for next week is
Goldman’s Blankfein. Geithner, Henry Paulson and Ben Bernanke should be next.
If they all skate
away yet again by deflecting blame or mouthing pro forma mea culpas, it will be
a sign that this inquiry, like so many other promises of reform since 9/15, is
likely to leave Wall Street’s status quo largely intact. That’s the
ticking-bomb scenario that truly imperils us all.
*
Thanksgiving in America
US corporations shatter profit records
25 November 2010
US
corporations took in $1.659 trillion in the third quarter, breaking records
going back 60 years, according to a Commerce Department report released
Tuesday. It was the seventh consecutive quarter of profit growth at “some of
the fastest rates in history” according to the New York Times.
If
any more proof were needed, the third quarter profit record exposes the lie
promoted by Democrats and Republicans alike that only the “free market” and
private businesses can reverse the nation’s 9.6 percent unemployment rate. The
corporations and banks are sitting on a cash horde in the trillions of dollars.
This money is not being used to hire workers, but to line the pockets of the
executives and top shareholders.
The
profit bonanza that lasted from July through September eclipsed the old record
of $1.655 trillion established in the third quarter of 2006—just as the
money-mad speculation of the financial elite was hurtling the US and world
economy toward the precipice of its worst economic crisis since the Great Depression.
The
resulting financial crisis, which erupted in the autumn of 2008, threatened a
total collapse of the global financial system. In response, the governments of
the world, led by the US, used the disaster to hand over tens of trillions in
public wealth to the very finance houses that triggered the crisis. This
process continues, as demonstrated by the International Monetary Fund/European
Union-dictated rescue of the Irish banks this week.
The enormous profit
realized by US corporations in the third quarter are only the latest indication
that the Bush-Obama bailout of the financial and corporate elite has achieved
its desired aim of protecting the personal fortunes of the rich:
*Annual
bonuses rose by 11 percent for executives at the 450 largest US corporations
last fiscal year, according to a recent survey published by the Wall Street
Journal. Overall, median compensation—including salaries, bonuses, stocks,
options and other incentives—rose by three percent to $7.3 million in 2009.
Shareholder returns increased by 29 percent.
*An
October survey by the Wall Street Journal found that employees at 35 of
the biggest banks, investment banks, hedge funds, money management firms, and
securities exchanges will be paid a record $144 billion in 2010.
*According
to Forbes magazine, the net worth of the 400 richest Americans increased
by 8 percent in 2010, to $1.37 trillion, more than the GDP of India, population
1.2 billion.
These
vast fortunes have been made possible through the impoverishment of the working
class, the vast majority of the population that must work in order to maintain
itself.
*In
2009, 15 percent of all US households, about 50 million people, went part or
all of the year without enough food to eat, according to a recent report from
the US Department of Agriculture (USDA). More than a third of these households,
home to one million children, went without meals on a regular basis.
*A
record 49.9 million US adults went without health insurance for at least part
of the past year, up from 46 million in 2008, according to a recent report from
the Centers for Disease Control and Prevention (CDC). The uninsured now
constitute 26.2 percent of the total adult population, more than one in four,
up from 24.5 percent two years ago.
*Average
annual wages for US workers fell by $457 in 2009, and the median annual wage
fell by $247 to $26,261, according to recently updated data from the Social
Security Administration (SSA).
*The
US Census Bureau found that about 44 million Americans were living in poverty
in 2009, the highest number on record and an increase of 3.8 million in one
year. Nearly 19 million Americans were living in extreme poverty in 2009,
defined as half of the official poverty level, an increase of 11 percent in one
year.
This
sampling—many similar statistics could be cited—paints a portrait of a
financial oligarchy literally gorging itself at the expense of the population.
Yet this reality, which permeates every aspect of life in the US, has only
whetted the appetite of the elite and its political servants.
The
holiday season finds the lame duck 111th Congress putting the finishing touches
on two years of wealth redistribution to the rich. It is almost certain to
extend Bush-era income tax cuts for the richest Americans.
On
November 30, five days after the Thanksgiving holiday, unemployment benefits
will expire for 1.2 million workers due to Congressional inaction. By Christmas
and the New Year, this figure will swell to 2 million. The fate of these
workers and the several million children who depend on them, tossed out without
cash income into the worst job market in seven decades, is of little
consequence to the millionaires and multi-millionaires who populate Congress.
One
result of these policies is that more people than ever, including those with
jobs, are forced to turn to soup kitchens, even on a day when families
traditionally gather for a holiday associated with the “bountiful harvest.”
Charities across the country are reporting record demand for help on
Thanksgiving—a holiday established at a national level by Abraham Lincoln in
1863 to honor the material abundance of the Republic, even in the midst of the
Civil War.
On
the other side of the social divide is an uninhibited orgy of greed, documented
most recently by a Wednesday story in the New York Times (“Signs of
Swagger, Wallets out, Wall Street Celebrates.”) From cosmetic plastic surgery
to high-priced art auctions, from rental properties in the Hamptons to bachelor
parties that cost tens of thousands of dollars, “Wall Street’s moneyed elite
are breathing easier again,” the article states.
The
stranglehold over society and the economy exercised by this parasitic social
layer, this modern-day aristocracy, must be broken once and for all.
Tom Eley
*
Lou Dobbs
Tonight
Monday, November 12, 2007
Mortgage giants Wells Fargo and Banks of America are accused of slapping dubious fees on homeowners struggling to save their homes. With fewer new mortgages being written, these companies appear to be leaning on these lucrative fees to stay profitable—with devastating consequences for homeowners. We’ll have that report.
Monday, November 12, 2007
Mortgage giants Wells Fargo and Banks of America are accused of slapping dubious fees on homeowners struggling to save their homes. With fewer new mortgages being written, these companies appear to be leaning on these lucrative fees to stay profitable—with devastating consequences for homeowners. We’ll have that report.
“Rightly or wrongly, the bankers
seem to believe that a return to business as usual is just around the corner.” PAUL KRUGMAN
NEW YORK TIMES
Op-Ed Columnist
Money for Nothing
On
July 15, 2007, The New York Times published an article with the headline “The
Richest of the Rich, Proud of a New Gilded Age.” The most prominently featured
of the “new titans” was Sanford Weill, the former chairman of Citigroup, who
insisted that he and his peers in the financial sector had earned their immense
wealth through their contributions to society.
Soon
after that article was printed, the financial edifice Mr. Weill took credit for
helping to build collapsed, inflicting immense collateral damage in the process. Even if we manage to avoid a repeat of
the Great Depression, the world economy will take years to recover from this
crisis.
All
of which explains why we should be disturbed by an article in Sunday’s Times
reporting that pay at investment banks, after dipping last year, is soaring
again — right back up to 2007 levels.
Why
is this disturbing? Let me count the ways.
First,
there’s no longer any reason to believe that the wizards of Wall Street
actually contribute anything positive to society, let alone enough to justify
those humongous paychecks.
Remember
that the gilded Wall Street of 2007 was a fairly new phenomenon. From the 1930s
until around 1980 banking was a staid, rather boring business that paid no
better, on average, than other industries, yet kept the economy’s wheels
turning.
So
why did some bankers suddenly begin making vast fortunes? It was, we were told,
a reward for their creativity — for financial innovation. At this point,
however, it’s hard to think of any major recent financial innovations that
actually aided society, as opposed to being new, improved ways to blow bubbles,
evade regulations and implement de facto Ponzi schemes.
Consider
a recent speech by Ben Bernanke, the Federal Reserve chairman, in which he
tried to defend financial innovation. His examples of “good” financial
innovations were (1) credit cards — not exactly a new idea; (2) overdraft
protection; and (3) subprime mortgages. (I am not making this up.) These were
the things for which bankers got paid the big bucks?
Still,
you might argue that we have a free-market economy, and it’s up to the private
sector to decide how much its employees are worth. But this brings me to my
second point: Wall Street is no longer, in any real sense, part of the private
sector. It’s a ward of the state, every bit as dependent on government aid as
recipients of Temporary Assistance for Needy Families, a k a “welfare.”
I’m
not just talking about the $600 billion or so already committed under the TARP.
There are also the huge credit lines extended by the Federal Reserve;
large-scale lending by Federal Home Loan Banks; the taxpayer-financed payoffs
of A.I.G. contracts; the vast expansion of F.D.I.C. guarantees; and, more
broadly, the implicit backing provided to every financial firm considered too
big, or too strategic, to fail.
One
can argue that it’s necessary to rescue Wall Street to protect the economy as a
whole — and in fact I agree. But given all that taxpayer money on the line,
financial firms should be acting like public utilities, not returning to the
practices and paychecks of 2007.
Furthermore,
paying vast sums to wheeler-dealers isn’t just outrageous; it’s dangerous. Why,
after all, did bankers take such huge risks? Because success — or even the
temporary appearance of success — offered such gigantic rewards: even
executives who blew up their companies could and did walk away with hundreds of
millions. Now we’re seeing similar rewards offered to people who can play their
risky games with federal backing.
So
what’s going on here? Why are paychecks heading for the stratosphere again?
Claims that firms have to pay these salaries to retain their best people aren’t
plausible: with employment in the financial sector plunging, where are those
people going to go?
No,
the real reason financial firms are paying big again is simply because they
can. They’re making money again (although not as much as they claim), and why
not? After all, they can borrow cheaply, thanks to all those federal
guarantees, and lend at much higher rates. So it’s eat, drink and be merry, for
tomorrow you may be regulated.
Or
maybe not. There’s a palpable sense in the financial press that the storm has
passed: stocks are up, the economy’s nose-dive may be leveling off, and the
Obama administration will probably let the bankers off with nothing more than a
few stern speeches. Rightly or wrongly, the bankers seem to believe that a
return to business as usual is just around the corner.
We
can only hope that our leaders prove them wrong, and carry through with real reform.
In 2008, overpaid bankers taking big risks with other people’s money brought
the world economy to its knees. The last thing we need is to give them a chance
to do it all over again.
GET THIS
BOOK!
Obamanomics:
How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends,
Corporate Lobbyists, and Union Bosses
BY TIMOTHY P
CARNEY
Editorial Reviews
Obama Is Making
You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers. In Obamanomics, investigative reporter Timothy P. Carney digs
up the dirt the mainstream media ignores and the White House wishes you
wouldn’t see. Rather than Hope and Change, Obama is delivering corporate
socialism to America, all while claiming he’s battling corporate America. It’s
corporate welfare and regulatory robbery—it’s Obamanomics.
Congressman
Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.”
And Johan Goldberg, columnist and bestselling author says, “Obamanomics
is conservative muckraking at its best and an indispensable field guide to the
Obama years.”
If
you’ve wondered what’s happening to America, as the federal government swallows
up the financial sector, the auto industry, and healthcare, and enacts deficit
exploding “stimulus packages,” this book makes it all clear—it’s a big scam.
Ultimately, Obamanomics boils down to this: every time government gets bigger,
somebody’s getting rich, and those somebodies are friends of Barack. This book
names the names—and it will make your blood boil.
Obama Is Making You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers.
Investigative
reporter Timothy P. Carney digs up the dirt the mainstream media ignores and
the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is
delivering corporate socialism to America, all while claiming he’s battling
corporate America. It’s corporate welfare and regulatory robbery—it’s
Obamanomics. In this explosive book, Carney reveals:
* The
Great Health Care Scam—Obama’s backroom deals with drug companies spell
corporate profits and more government control
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
If
you’ve wondered what’s happening to our country, as the federal government
swallows up the financial sector, the auto industry, and healthcare, and enacts
deficit exploding “stimulus packages” that create make-work government jobs,
this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils
down to this: every time government gets bigger, somebody’s getting rich, and
those somebodies are friends of Barack. This book names the names—and it will
make your blood boil.
*
Praise for Obamanomics
Praise for Obamanomics
“The
notion that ‘big business’ is on the side of the free market is one of
progressivism’s most valuable myths. It allows them to demonize corporations by
day and get in bed with them by night. Obamanomics is conservative
muckraking at its best. It reveals how President Obama is exploiting the big
business mythology to undermine the free market and stick it to entrepreneurs,
taxpayers, and consumers. It’s an indispensable field guide to the Obama
years.”
—Jonha Goldberg, LA Times columnist and best-selling author
—Jonha Goldberg, LA Times columnist and best-selling author
“‘Every
time government gets bigger, somebody’s getting rich.’ With this astute
observation, Tim Carney begins his task of laying bare the Obama
administration’s corporatist governing strategy, hidden behind the president’s
populist veneer. This meticulously researched book is a must-read for anyone
who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against Barack Obama
—David Freddoso, best-selling author of The Case Against Barack Obama
“Every
libertarian and free-market conservative who still believes that large
corporations are trusted allies in the battle for economic liberty needs to
read this book, as does every well-meaning liberal who believes that expansions
of the welfare-regulatory state are done to benefit the common people.”
—Congressman Ron Paul
—Congressman Ron Paul
“It’s
understandable for critics to condemn President Obama for his ‘socialism.’ But
as Tim Carney shows, the real situation is at once more subtle and more
sinister. Obamanomics favors big business while disproportionately punishing
everyone else. So-called progressives are too clueless to notice, as usual,
which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
*
ISBN-10: 1596986123 ISBN-13: 978-1596986121
ARE AMAZED AT HOW UTTERLY BRAZEN THESE CORPORATE OWNED
POLITICIANS ARE?
GET THIS BOOK!
Culture
of Corruption: Obama and His Team of Tax Cheats, Crooks, and Cronies
by Michelle
Malkin
Editorial
Reviews
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.
From the Inside Flap
The era of hope and change is dead....and it only took six
months in office to kill it.
Never has an administration taken office with more inflated
expectations of turning Washington around. Never have a media-anointed American
Idol and his entourage fallen so fast and hard. In her latest investigative
tour de force, New York Times bestselling author Michelle Malkin delivers a
powerful, damning, and comprehensive indictment of the culture of corruption
that surrounds Team Obama's brazen tax evaders, Wall Street cronies, petty
crooks, slum lords, and business-as-usual influence peddlers. In Culture of
Corruption, Malkin reveals:
* Why nepotism beneficiaries First Lady Michelle Obama and
Vice President Joe Biden are Team Obama's biggest liberal hypocrites--bashing
the corporate world and influence-peddling industries from which they and their
relatives have benefited mightily
* What secrets the ethics-deficient members of Obama's
cabinet--including Hillary Clinton--are trying to hide
* Why the Obama White House has more power-hungry,
unaccountable "czars" than any other administration
* How Team Obama's first one hundred days of appointments
became a litany of embarrassments as would-be appointee after would-be
appointee was exposed as a tax cheat or had to withdraw for other reasons
* How Obama's old ACORN and union cronies have squandered
millions of taxpayer dollars and dues money to enrich themselves and expand
their power
* How Obama's Wall Street money men and corporate lobbyists
are ruining the economy and helping their friends In Culture of Corruption,
Michelle Malkin lays bare the Obama administration's seamy underside that the
liberal media would rather keep hidden.
• ISBN-10:
1596981091
• ISBN-13:
978-1596981096
Jobless rate is a national scandal, and nobody in Washington careshttp://mexicanoccupation.blogspot.com/2013/09/jobless-rate-is-national-scandal-and.html
The new jobless numbers are out, and the core
jobless rate is a punishing 7.3 percent. It would be much higher, except the
number of Americans who became depressed and just dropped out of the labor
force is now at its highest in 35 years.
The real jobless rate is almost double that.
This is a scandal. Shame on President Obama. Shame on Republicans. Shame on
Congress. And shame on the media.
DURING OBAMA’S FIRST TERM, TWO-THIRDS OF ALL JOBS WENT TO IMMIGRANTS, BOTH LEGAL AND ILLEGAL. OBAMA SABOTAGED E-VERIFY TO EASE MORE LA RAZA MEXICANS INTO OUR JOBS and VOTING BOOTHS!
FIRE LEGALS to HIRE ILLEGALS on the cheap… but how
“cheap” is Mexico’s looting and occupation???
“cheap” is Mexico’s looting and occupation???
LAY OFF AMERICANS TO HIRE ILLEGALS… IT’S THE AMERICAN WALL
STREET LOOTERS’ WAY!
Of course, the U.S. unemployment rate is at
7.3 percent, with millions of American workers at all skill levels out of work,
and millions more so discouraged that they have left the work force altogether.
In addition, at the same time the corporate officers seek higher numbers of
immigrants, both low-skill and high-skill, many of their companies are laying
off thousands of workers.
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