Saturday, September 6, 2014

AND STILL THE DEMOCRAT PARTY WANTS MILLIONS MORE ILLEGALS IN OUR JOBS! US median income has plunged, inequality has grown in Obama “recovery”

US median income has plunged, inequality has grown in Obama “recovery”


.....IN AN ERA OF STAGGERING UNEMPLOYMENT, THE DEMOCRAT PARTY IS HELLBENT ON PUTTING THEIR PARTY BASE OF ILLEGALS INTO OUR JOBS!


MEXICANS ABOVE THE LAW IN AMERICA… a nation under LA RAZA occupation


U.S. capitulates (again) to LA RAZA SUPREMACY (mexifornia)


NARCOmex AMBASSADOR ORDERS LA RAZA SUPREMACY FOR MEXICANS ILLEGALLY LOOTING IN AMERICAN BORDERS and JOBS.

U.S. CAPITULATES ON THE SPOT!


TED CRUZ and the looting Mexican invaders
 
http://mexicanoccupation.blogspot.com/2014/08/cruz-serves-up-red-meat-to.html

New Federal Reserve report

US median income has plunged, inequality has grown in Obama “recovery”

By Andre Damon
6 September 2014
The yearly income of a typical US household dropped by a massive 12 percent, or $6,400, in the six years between 2007 and 2013. This is just one of the findings of the 2013 Federal Reserve Survey of Consumer Finances released Thursday, which documents a sharp decline in working class living standards and a further concentration of wealth in the hands of the rich and the super-rich.

New Federal Reserve report

US median income has plunged, inequality has grown in Obama “recovery”

By Andre Damon
6 September 2014
The yearly income of a typical US household dropped by a massive 12 percent, or $6,400, in the six years between 2007 and 2013. This is just one of the findings of the 2013 Federal Reserve Survey of Consumer Finances released Thursday, which documents a sharp decline in working class living standards and a further concentration of wealth in the hands of the rich and the super-rich.

The report makes clear that the drop in a typical household’s income was not merely the result of what is referred to as the 2008 recession, which officially lasted only 18 months, through June 2009. Much of the decline in workers’ incomes occurred during the so-called “economic recovery” presided over by the Obama administration.

In the three years between 2010 and 2013, the annual income of a typical household actually fell by 5 percent.

The Fed report exposes as a fraud the efforts of the Obama administration to present itself as a defender of the “middle class”. It has systematically pursued policies to redistribute wealth from the bottom to the very top of the income ladder. These include the multi-trillion-dollar bailout of the banks, near-zero interest rates to drive up the stock market, and austerity measures and wage cutting to lift corporate profits and CEO pay to record highs.

The Federal Reserve data, based on in-person interviews, show a far larger decline in the median income of American households than indicated by earlier figures from the Census Bureau’s Current Population Survey.

In line with the figures on household income, the report shows an ever-growing concentration of wealth among the richest households. The Fed’s summary of its data notes that “the wealth share of the top 3 percent climbed from 44.8 percent in 1989 to 51.8 percent in 2007 and 54.4 percent in 2013,” while the wealth of the “next 7 highest percent of families changed very little.”

The report states that “the rising wealth share of the top 3 percent of families is mirrored by the declining share of wealth held by the bottom 90 percent,” which fell from 33.2 percent in 1989 to 24.7 percent in 2013.

The ongoing impoverishment of the population is an indictment of capitalism. There has been no genuine recovery from the Wall Street crash of 2008, only a further plundering of the economy by the financial aristocracy. The crisis precipitated by the rapacious, criminal practices of the bankers and hedge fund speculators has been used to restructure the economy to the benefit of the rich at the expense of everyone else.

Decent-paying jobs have been wiped out and replaced by low-wage, part-time and temporary jobs, with little or no benefits. Pensions and health benefits have come under savage attack, as seen in the bankruptcy of Detroit.

Not surprisingly, the Fed report has been buried by the American media, confined to the inside pages of the major newspapers.

Measured in 2013 dollars, a typical household received an income of $53,100 in 2007. By 2010, this had fallen to $49,000. It hit $46,700 by 2013. At the same time, the average income for the wealthiest tenth of families grew by ten percent.

While median income fell between 2010 and 2013, mean (average) income grew, from $84,100 to $87,200. The report noted that, “the decline in median income coupled with the rise in mean income is consistent with a widening income distribution during this period.”

For the poorest households, the drop in income has been even more dramatic. Among the bottom quarter of households, mean income fell a full 10 percent between 2010 and 2013.

The report reveals other aspects of the social crisis. The share of young families burdened by education debt nearly doubled, from 22.4 percent to 38.8 percent, between 2001 and 2013. The share of young families with more than $100,000 in debt has grown nearly tenfold, from 0.6 percent to 5.6 percent.

These statistics reflect both a historic and insoluble crisis of the profit system and the brutal policies of the American ruling class, which is carrying out a relentless assault on working people and preparing to go even further by dismantling bedrock social programs such as Medicare and Social Security. The data undercuts the endless talk of “partisan gridlock” in Washington and the media presentation of a political system paralyzed by irreconcilable differences between the Democratic and Republican parties.

There has, in fact, been a seamless continuity between the Bush and Obama administrations in the pursuit of reactionary policies of war abroad and class war at home. The two parties have worked hand in glove to make the working class pay for the crisis of the capitalist system.
The Federal Reserve has itself played a critical role in the growth of social inequality in the US. The bailout of the banks, estimated at $7 trillion, has been followed by six years of virtually free money for the banks.

Every facet of American life is dominated by the immense concentration of wealth at the very top of society. The grotesque levels of wealth amassed by the parasites and criminals who dominate American business, and the flaunting of their fortunes before tens of millions struggling to pay their bills and keep from falling into destitution, are fueling the growth of social anger. This anger will increasingly be directed against the entire economic and political system.

The figures released by the Fed reflect a society riven by class divisions that must inevitably trigger social upheavals. The explosive state of social relations is itself a major factor in the endless recourse by the Obama administration to military aggression and war, which serve to deflect internal tensions outward.

The growth of inequality likewise underlies the relentless attack on democratic rights in the US, including the massive domestic spying exposed by Edward Snowden and the use of militarized police to crack down on social opposition, as seen most recently in Ferguson, Missouri.

THE OBAMA devastation of America (wall street's poster boy for corruption)


THE SPEEDING TRAIN WRECK TO DESTRUCTION: BARACK OBAMA'S CRONY CAPITALISM, WALL STREET'S UNFETTERED LOOTING AND THE INVASION AND OCCUPATION OF THE MEXICAN FASCIST PARTY of LA RAZA. . .. one man's utter destruction of America!

http://mexicanoccupation.blogspot.com/2014/09/crony-capitalism-serving-banksters-that.html


Year-low US job growth in August

By Andre Damon
6 September 2014
The US economy added fewer jobs last month than any other month this the year, according to the latest US jobs report, published Friday by the Labor Department.

US employers added 142,000 jobs in August, far lower than the average of more than 200,00 for the prior twelve months, and below the 230,000 that had been forecast by economists.

In addition to the worse-than-expected statistics for August, the report revised down estimates for job growth in earlier months by 28,000.

Stocks rallied at the dismal jobs report, reflecting the perverse relationship between the real economy and the financial markets, which interpret any worsening of the economic situation as a signal that the Federal Reserve will be reluctant to raise interest rates and slow its “Quantitative easing” asset purchases.

The S&P 500 hit a new record Friday, closing up by 10 points, or 0.5 percent, to 2,007. The NASDAQ also rose by .45 percent, to 4,582, and the Dow Jones industrial average rose by 0.4 percent, to 17,137.

While the stock market sets record after record, fueled by zero-interest rate policies and cash infusions from the world’s central banks, the real economy and conditions for working people show no signs of improvement.

The unemployment rate fell to 6.1 percent, as 268,000 people gave up looking for jobs and left the workforce. The number of such “missing workers” grew to 5.91 million last month, according to figures from the Economic Policy Institute.

The labor force participation rate fell to 62.8 percent, its lowest level in three-and-a-half decades, as the number of adults not in the labor force hit a new record.

Wages were flat over the previous twelve months, with a 2.1 percent nominal wage increase wiped out by a 2 percent inflation rate over the same period.

While there were zero jobs added in manufacturing, the economy added 112,000 jobs in the service sector, which pays significantly lower median wages than goods-producing industries. The healthcare sector added 42,000 jobs, while bars and restaurants added 21,500.

Temporary help services added 13,000 jobs. Earlier this month, the National Employment Law Project (NELP) reported that both the number of people working for labor contractors and the percentage of the workforce employed by such companies have hit record highs.


ASSAULT ON THE AMERICAN WORKER RAGES ON UNDER THE GREAT HISPANDERER OBAMA!

Labor Day 2014


Temp labor at record levels in US


By Andre Damon
2 September 2014

The Obama administration marked Labor Day 2014 with demagogic speeches by President Obama in Milwaukee and Vice President Joseph Biden in Detroit—speeches that were notable mainly for the brazenness of their dishonesty and cynicism.

 

Obama and Biden postured as partisans of what they referred to as the “middle class,” even as a number of reports emerged documenting the devastating decline in conditions for the working class under the current administration.

 
 

WAGES PLUMMET… and millions more illegals are arriving soon!


Low-wage males’ wages declined by an astonishing 31.2 percent, with mid-wage male workers seeing a 16 percent drop, the study found. Workers without a high school diploma suffered a 46.3 percent fall in wages, while workers with only a high school diploma lost 32.1 percent, and those holding a bachelor’s degree lost 4 percent. VIVA LA RAZA SUPREMACY? DEMS SABOTAGE E-VERIFY NATIONWIDE!

SOCIOPATH – OBAMA IS MERELY GEORGE BUSH IN DRAG


THE RISE of A SOCIOPATH NAMED BARACK OBAMA and the FALL OF AMERICA.

IS OBAMA WHAT HAPPENS WHEN ILLEGALS VOTE? 


 
THE MAN THAT CALLED HIS HOAX “HOPE & CHANGE”

'Incompetent' and 'liar' among most frequently used words to describe the president: Pew Research Center

more at this link – post on your Facebook and email broadcast


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.

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 THE DEPRESSION ... meanwhile millions of Mexicans have jumped our borders and jobs for obamacare, LA RAZA welfare, anchor baby welfare and to vote dem for more!!!

more at this link – post on your Facebook and email broadcast


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!

AMNESTY….LA RAZA IS PRINTING OUT FRAUD I.D.s BY THE MILLIONS.

"They hauled them down to the border," Sakuma said. "Three days later, they were standing in our office, but they had a different name and a different Social Security number."





AMNESTY: America’s death warrant signed by
 
hispandering Barack Obama
 

THE CONSPIRACY to DESTROY AMERICA’S
 
BORDERS - Obama and his Wall Street
 
banksters

 
This nation no longer is a democratic republic...rather it has become a tool of the super-rich members of the above mentioned elite who preselect our presidents based on their cooperation and complicity with the elite’s ultimate goals. Obama has, in their opinion done superbly carrying out the plans well laid out for him by his backers. 


 
BILLIONAIRES partner with MEXICO, OBAMA and the U.S. Chamber of Commerce to assault the AMERICAN WORKER…. Amnesty, it’s all about keeping wages depressed and passing along the real cost of all that “cheap” mex labor to the American middle class.


OPEN BORDERS AND ENDLESS HORDES OF IMMIGRANTS POURING IN IS ONLY ABOUT KEEPING WAGES DEPRESSED


To cite just one example, if there is a shortage of U.S. engineers, are 1.5 million Americans with engineering degrees either unemployed or working in other fields? In all too many cases, U.S. tech companies prefer foreign workers on temporary visas because they are cheaper and more exploitable than Americans.

 

UNDER OBAMA, TWO-THIRDS OF JOBS GO TO HIS PARTY BASE OF ILLEGALS!


“At the hearing, Dr. Rakesh Kochar, Associate Director for Research at the Pew Hispanic Center, testified that in the year following the official end of the recession (June 2009), foreign-born workers gained 656,000 jobs while native-born workers lost an additional 1.2 million jobs.”

"We have a situation where the job market — the bottom fell out, yet we kept legal immigration relatively high without even a national debate," he said. "As a consequence, a lot of the job growth has been going to immigrants."

Mr. Obama did take action this year to grant many illegal immigrants up to 30 years of age a tentative legal status that prevents them from being deported and authorizes them to work in the United States.

Some Republicans in Congress have criticized Mr. Obama's policy, saying it violates his powers and will mean more competition for scarce jobs.

 

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