HOPE and CHANGE and endless lies and con jobs as his WALL
STREET DONORS’ LOOTING of AMERICA CONTINUES!
Having presided for the past five years over an unprecedented growth of social inequality, President Barack Obama, down in the polls because of popular indignation over his fraudulent health care “reform,” adopted the unlikely pose of tribune of egalitarian values in a speech on Wednesday at the pro-Democratic Party Center for American Progress in Washington DC.
http://mexicanoccupation.blogspot.com/2013/12/the-bankster-owned-president-for-1.html
In typical fashion, Obama decried the growth of inequality in America as though he were an innocent bystander and had absolutely no role in the process he was criticizing. The most remarkable aspect of the speech was the contempt for the intelligence of the American people it expressed.
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.
OBAMA – THE SOCIOPATH BANKSTERS FUNDED AND ILLEGALS REELECTED.
OBAMA IS A SOCIOPATH. HE CAN LIE OUT OF HIS BIG MOUTH ABOUT ANYTHING AND THEN GO SERVE HIS CRIMINAL BANKSTER DONORS AND LA RAZA!
But the latest New York Times/CBS News poll shows something that is a troublesome sign for the White House. Only 30 percent of Americans believe that the president “cares a lot” about “the needs and problems of people” like themselves.
The Christian Science Monitor - CSMonitor.com
Robert Reich
Why Washington is cutting safety nets when most Americans are still in the Great Recession
Over 47 million Americans saw cuts to their food stamp benefits Nov. 1. The majority of Americans are still recovering from the Great Recession, yet Washington is cutting safety nets. Why? Income inequality, Reich explains.
A cashier checks out a customer who is using a SNAP card. Cuts to the food stamp program went into effect Nov., affecting over 47 million Americans.
(Melanie Stetson Freeman/The Christian Science Monitor/File )
So how to explain this paradox?
As of November 1 more than 47 million Americans have lost some or all of their food stamp benefits. House Republicans are pushing for further cuts. If the sequester isn’t stopped everything else poor and working-class Americans depend on will be further squeezed.
We’re not talking about a small sliver of America here. Half of all child
ren get food stamps at some point during their childhood. Half of all adults get them sometime between ages 18 and 65. Many employers – including the nation’s largest, Walmart – now pay so little that food stamps are necessary in order to keep food on the family table, and other forms of assistance are required to keep a roof overhead.
The larger reality is that most Americans are still living in the Great Recession. Median household income continues to drop. In last week’s Washington Post-ABC poll, 75 percent rated the state of the economy as “negative” or “poor.”
So why is Washington whacking safety nets and services that a large portion of Americans need, when we still very much need them?
It’s easy to blame Republicans and the rightwing billionaires that bankroll them, and their unceasing demonization of “big government” as well as deficits. But Democrats in Washington bear some of the responsibility. In last year’s fiscal cliff debate neither party pushed to extend the payroll tax holiday or find other ways to help the working middle class and poor.
Here’s a clue: A new survey of families in the top 10 percent of net worth (done by the American Affluence Research Center) shows they’re feeling better than they’ve felt since 2007, before the Great Recession.
It’s not just that the top 10 percent have jobs and their wages are rising. The top 10 percent also owns 80 percent of the stock market. And the stock market is up a whopping 24 percent this year.
The stock market is up even though most Americans are down for two big reasons.
First, businesses are busily handing their cash back to their shareholders – buying back their stock and thereby boosting share prices – rather than using the cash to expand and hire. It makes no sense to expand and hire when most Americans don’t have the money to buy.
The S&P 500 “Buyback Index,” which measures the 100 stocks with the highest buyback ratios, has surged 40 percent this year, compared with a 24% rally for the S&P 500.
IBM has just approved another $15 billion for share buybacks on top of about $5.6 billion it set aside previously, thereby boosting its share prices even though business is sluggish. In April, Apple announced a $50 billion increase in buybacks plus a 15% rise in dividends, but even this wasn’t enough for multi-billionaire Carl Icahn, who’s now demanding that Apple use more of its $170 billion cash stash to buy back its stock and make Ichan even richer.
Big corporations can also borrow at rock-bottom rates these days in order to buy back even more of their stock — courtesy of the Fed’s $85 billion a month bond-buying program. (Ichan also wants Apple to borrow $150 billion at 3 percent interest, in order to buy back more stock and further enrich himself.)
The second big reason why shares are up while most Americans are down is corporations continue to find new ways to boost profits and share prices by cutting their labor costs – substituting software for people, cutting wages and benefits, and piling more responsibilities on each of the employees that remain.
Neither of these two strategies – buying back stock and paring payrolls – can be sustained over the long run (so you have every right to worry about another Wall Street bubble). They don’t improve a company’s products or customer service.
But in an era of sluggish sales – when the vast American middle class lacks the purchasing power to keep the economy going – these two strategies at least keep shareholders happy. And that means they keep the top 10 percent happy.
Congress, meanwhile, doesn’t know much about the bottom 90 percent. The top 10 percent provide almost all campaign contributions and funding of “independent” ads. Moreover, just about all members of Congress are drawn from the same top 10 percent – as are almost all their friends and associates, and even the media who report on them.
Get it? The bottom 90 percent of Americans — most of whom are still suffering from the Great Recession, most of whom have been on a downward escalator for decades — have disappeared from official Washington.
As of November 1 more than 47 million Americans have lost some or all of their food stamp benefits. House Republicans are pushing for further cuts. If the sequester isn’t stopped everything else poor and working-class Americans depend on will be further squeezed.
We’re not talking about a small sliver of America here. Half of all child
ren get food stamps at some point during their childhood. Half of all adults get them sometime between ages 18 and 65. Many employers – including the nation’s largest, Walmart – now pay so little that food stamps are necessary in order to keep food on the family table, and other forms of assistance are required to keep a roof overhead.
The larger reality is that most Americans are still living in the Great Recession. Median household income continues to drop. In last week’s Washington Post-ABC poll, 75 percent rated the state of the economy as “negative” or “poor.”
So why is Washington whacking safety nets and services that a large portion of Americans need, when we still very much need them?
It’s easy to blame Republicans and the rightwing billionaires that bankroll them, and their unceasing demonization of “big government” as well as deficits. But Democrats in Washington bear some of the responsibility. In last year’s fiscal cliff debate neither party pushed to extend the payroll tax holiday or find other ways to help the working middle class and poor.
Here’s a clue: A new survey of families in the top 10 percent of net worth (done by the American Affluence Research Center) shows they’re feeling better than they’ve felt since 2007, before the Great Recession.
It’s not just that the top 10 percent have jobs and their wages are rising. The top 10 percent also owns 80 percent of the stock market. And the stock market is up a whopping 24 percent this year.
The stock market is up even though most Americans are down for two big reasons.
First, businesses are busily handing their cash back to their shareholders – buying back their stock and thereby boosting share prices – rather than using the cash to expand and hire. It makes no sense to expand and hire when most Americans don’t have the money to buy.
The S&P 500 “Buyback Index,” which measures the 100 stocks with the highest buyback ratios, has surged 40 percent this year, compared with a 24% rally for the S&P 500.
IBM has just approved another $15 billion for share buybacks on top of about $5.6 billion it set aside previously, thereby boosting its share prices even though business is sluggish. In April, Apple announced a $50 billion increase in buybacks plus a 15% rise in dividends, but even this wasn’t enough for multi-billionaire Carl Icahn, who’s now demanding that Apple use more of its $170 billion cash stash to buy back its stock and make Ichan even richer.
Big corporations can also borrow at rock-bottom rates these days in order to buy back even more of their stock — courtesy of the Fed’s $85 billion a month bond-buying program. (Ichan also wants Apple to borrow $150 billion at 3 percent interest, in order to buy back more stock and further enrich himself.)
The second big reason why shares are up while most Americans are down is corporations continue to find new ways to boost profits and share prices by cutting their labor costs – substituting software for people, cutting wages and benefits, and piling more responsibilities on each of the employees that remain.
Neither of these two strategies – buying back stock and paring payrolls – can be sustained over the long run (so you have every right to worry about another Wall Street bubble). They don’t improve a company’s products or customer service.
But in an era of sluggish sales – when the vast American middle class lacks the purchasing power to keep the economy going – these two strategies at least keep shareholders happy. And that means they keep the top 10 percent happy.
Congress, meanwhile, doesn’t know much about the bottom 90 percent. The top 10 percent provide almost all campaign contributions and funding of “independent” ads. Moreover, just about all members of Congress are drawn from the same top 10 percent – as are almost all their friends and associates, and even the media who report on them.
Get it? The bottom 90 percent of Americans — most of whom are still suffering from the Great Recession, most of whom have been on a downward escalator for decades — have disappeared from official Washington.
McDonalds, Burger King and Jack in the Box HELP MEXICO LOOT
AMERICA… ever been to one of these places that hired ANY ONE but HISPANICS that
can barely speak English?
NOW THEY’RE SENDING THEM TO THE WELFARE LINES TO MAKE UP FOR
MISERABLE WAGES…. the amnesty hoax… IT’S ALL ABOUT KEEPING WAGES DEPRESSED!!!
HERITAGE FOUNDATION: OBAMA’S AMNESTY
WOULD ADD 100 MORE ILLEGALS AND COST AMERICANS (Legals) BILLIONS AND BILLIONS
NEXT TO DRUGS,
MEXICO’S BIGGEST EXPORTS IS POVERTY, CRIMINALS and ANCHOR BABY BREEDERS = 18
YEARS OF GRINGO-PAID WELFARE!
The danger, as Washington
Post economics columnist Robert Samuelson argues, is that of “importing
poverty” in the form of a new underclass—a permanent group of working poor…
AMNESTY IS ONLY ABOUT KEEPING WAGES FOR LEGALS DEPRESSED!
Heritage: Amnestied Illegals Will
Get $9.4T in Benefits; Increase Debt $6.3T'
what is the REAL cost of all that “CHEAP” Mexican labor? Add
it up and then factor in the MEXICAN CRIME TIDAL WAVE and the fact that the
MEXICAN now operate in 2,500 American
cities!
more at this link – post on your Facebook and email broadcast
McDONALD’S
URGES MISERABLY PAID EMPLOYEES TO LOOT GRINGO WELFARE TO MAKE UP THE
DIFFERENCE!
OBAMA’S
ASSAULT ON THE AMERICAN WORKER: To build the LA RAZA PARTY BASE of ILLEGALS,
DESTROY THE GOP, AND KEEP WAGES
DEPRESSED WITH ENDLESS HORDES OF MEXICANS JUMPING OUR BORDERS, JOBS and WELFARE
LINES!
http://mexicanoccupation.blogspot.com/2013/10/amnesty-its-all-about-keeping-wages.html
CHILDREN IN POVERTY… AS WALL STREET LOOTS and MEXICO INVADES
AND OCCUPIES
AMERICA – THE LAND OF POVERTY WHERE HALF THE CHILDREN LIVE
IN POVERTY AND OF ILLEGALS GET WELFARE AND AMERICAN JOBS./
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