Monday, April 13, 2015

THE OBAMA DEPRESSION - HIGH UNEMPLOYMENT AND STILL THE JOBS GO TO ILLEGALS - IMF warns of slow growth, high unemployment


WILL OBAMA BANKRUPT AMERICA?

He's doing it now as his crony banksters rake in the proceeds!

CBO: Feds Taxing More, Spending More, Running Bigger Deficit in 2015 | CNS News



IMF warns of slow growth, high unemployment


IMF warns of slow growth, high unemployment
By Barry Grey
11 April 2015
The International Monetary Fund warned Wednesday that the world economy would remain locked in a pattern of slow growth, high unemployment and high debt for a prolonged period. The forecast, contained in the organization’s updated World Economic Outlook (WEO), marks a shift from previous economic projections in acknowledging that there is little prospect of a return to the growth levels that prevailed prior to the 2008 Wall Street crash.

Parts of the semi-annual WEO were released ahead of the report’s formal issuance this coming Tuesday. The publication of the economic update is timed to coincide with next weekend’s spring meetings of the IMF and World Bank in Washington.

The document’s grim analysis amounts to a tacit acknowledgement that the crisis ushered in nearly seven years ago by the financial meltdown is of a historical and fundamental character, and that the underlying problems in the global capitalist system have not been resolved.

The report focuses on a sharp and persistent decline in productive business investment, particularly in the advanced economies of North America, Europe and Asia, and concludes that “potential growth in advanced economies is likely to remain below pre-crisis rates, while it is expected to decrease further in emerging market economies in the medium term.”

The report adds, “These findings imply that living standards may expand more slowly in the future. In addition, fiscal sustainability will be more difficult to maintain as the tax base will grow more slowly.”
While pointing to a number of factors behind the global slowdown, including an aging population in the advanced economies and declining productivity rates, the IMF overlooks the colossal role of financial parasitism in diverting resources from the productive forces—including, above all, the international working class.

This omission is all the more glaring in light of this week’s developments. European stock markets hit record highs, Asian markets soared, and three mega-merger deals were announced, including two totaling $100 billion in a single day.

These examples of wealth-creation for the corporate-financial elite, entirely divorced from and at the expense of productive investment, illustrate the manner in which the world’s capitalist governments and central banks are financing a bonanza for the rich and super-rich, while the real economy remains mired in slump and the living standards of the vast majority of the planet’s people are driven down.
Speaking Thursday before the Atlantic Council, a Washington DC international affairs think tank, IMF Managing Director Christine Lagarde said, “Six months ago, I warned about the risk of a ‘new mediocre’—low growth for a long time. Today, we must prevent that new mediocre from becoming the ‘new reality.’”

She pointed to “what I have called the ‘low-low, high-high’ scenario: the risk of low growth-low inflation, and high debt-high unemployment persisting for a number of advanced economies.”
Lagarde warned that subnormal growth increased the risks of a new financial breakdown. “This means that liquidity can evaporate quickly if everyone rushes for the exit at the same time—which could, for example, make for a bumpy ride when the Federal Reserve begins to raise short-term rates.”
She also noted that 2015 would likely mark the fourth consecutive year of below-average trade growth.

Her prescriptions for accelerating growth by increasing demand and productive investment were tailored to the interests of big business and hostile to those of the working class. She stressed the need for “structural reforms” in labor markets—a euphemism for stripping workers of whatever job protections remain in place—and removing energy subsidies in oil-importing emerging economies.
The IMF report and Lagarde’s statements echo the warning issued last week in a Financial Times column by Lawrence Summers, Harvard economics professor and former US treasury secretary. Alluding to the concurrence of ultra-low interest rates, soaring stock markets and underlying deflation in the real economy, Summers wrote:

“We may be headed into a world where capital is abundant and deflationary pressures are substantial. Demand could be in short supply for some time. In no big industrialized country do markets expect real interest rates to be much above zero in 2020 or inflation targets to be achieved."

In the World Economic Outlook, the IMF predicts that, in the advanced economies, growth in “potential output,” i.e., output consistent with stable inflation, will average 1.6 percent a year between 2015 and 2020, much lower than the average growth rates before the 2008 crash, when potential output expanded at 2.25 percent.

The IMF forecasts an even sharper decline in growth in emerging markets such as China, India, Brazil and Russia, with potential output overall set to fall from 6.5 percent a year between 2008 and 2014, to 5.2 percent over the next five years.

Alluding to the depth and scope of the current crisis, the document states: “Unlike previous financial crises, the global financial crisis is associated not only with a reduction in the level of potential output, but also with a reduction in its growth rate… Shortly after the crisis hit in September 2008, economic activity collapsed, and more than six years after the crisis, growth is still weaker than was expected before the crisis.”

In a chapter entitled “Private Investment: What’s the Holdup?,” the document explains that business investment in the advanced economies declined, on average, by 20 percent during the six years after the onset of the financial crisis, twice the average decline of 10 percent during the six years following historical recessions.

It really is no mystery why productive investment has fallen so sharply in the current crisis. Reflecting the immense decay of capitalism as a whole, and, in particular, American capitalism, the corporations have hoarded the trillions they accumulated by slashing jobs and cutting wages and benefits on the one hand, and speculating with the virtually free cash from the central banks and profiting from the inflation of stock prices on the other.

Instead of investing this money in production, they have used it for parasitic purposes such as stock buybacks and mergers and acquisitions. These activities create no real value, but they add to the fortunes of the financial elite. Corporate buyouts, in fact, shrink the productive forces by consolidating facilities and slashing jobs.

This explosion of parasitism was in full swing this week as European stocks climbed to new records, and Japan’s Nikkei index topped 20,000 for the first time in 15 years on Friday, before falling back to 19,907.

The Stoxx Europe 600 index rose 4.49 points Thursday to close at 409.15, surpassing the previous peak of 405.50 reached at the height of the dot-com boom in March 2000. The benchmark index is up more than 19 percent so far this year.

Germany’s DAX index, which hit a record earlier this year, is up 24 percent so far in 2015. Major indexes in France and Italy have recorded gains of more than 20 percent.

In Asia, Japan’s Nikkei has risen 14 percent and Hong Kong’s Hang Seng has climbed 14 percent.
On Wednesday, meanwhile, Royal Dutch Shell confirmed it had agreed to buy Britain’s BG Group for some $70 billion in the biggest deal in the energy sector in more than a decade. This takeover is expected to usher in further mergers and consolidations in the oil and gas industry, resulting in thousands of job cuts.

The same day, Mylan, one of the biggest generic drug groups, announced a bid to buy Perrigo, a maker of cough medicine and allergy remedies, for $28.9 billion. Already, in the first three months of 2015, the total value of health industry deals surpassed $95 billion, a 70 percent increase from the same period a year ago. The day before, the Dutch package delivery company TNT Express agreed to be bought by FedEx for $4.8 billion.

The value of all takeovers announced thus far in 2015 is more than $1 trillion. At the current pace, the volume of mergers and acquisitions for the full year will exceed $3.7 trillion, making it the second biggest year in history after 2007—the year before the financial crash.

Wall Street bankers are raking in millions from these deals. On Wednesday alone, Goldman Sachs helped organize the Shell-BG and Mylan-Perrigo deals, totaling $100 billion. The bank could pocket over $50 million from the Shell takeover alone.



HILLARY CLINTON: A dedicated disciple of OBAMANOMICS – Why else would his banksters invest so much in her???


“That her candidacy is announced without calling for any particular policies underscores the fact that the election is not about the American people deciding the course of policy, but rather the vetting of candidates to serve the interest of the financial oligarchy.”

“There is, of course, no acknowledgment that Clinton was part of an administration that oversaw and continues to oversee the greatest transfer of wealth from the bottom to “those at the top” in US history.”

THE ASSAULT on the AMERICAN MIDDLE-CLASS by the DEMOCRAT PARTY:

“By large margins, even in opinion polls conducted by the corporate-controlled media, the American people support sharp increases in taxes on the wealthy to fund social programs and provide jobs for the unemployed; they oppose cuts in Social Security and Medicare and view education, health care and other public services as basic rights; they oppose government spying on the telephone and Internet usage of ordinary Americans, as well as other police-state measures; and they oppose overseas military interventions in the Middle East, Africa and Asia. The Democratic and Republican presidential candidates stand on the other side of the barricades on all these issues.”

 THE LOOTING OF AMERICA: BARACK

OBAMA AND HIS CRONY BANKSTERS

set themselves on America’s pensions

next!


The new aristocrats, like the lords of old, are not bound by the laws that apply to the lower orders. Voluminous reports have been issued by Congress and government panels documenting systematic fraud and law breaking carried out by the biggest banks both before and after the Wall Street crash of 2008.

Goldman Sachs, JPMorgan Chase, Bank of America and every other major US bank have been implicated in a web of scandals, including the sale of toxic mortgage securities on false pretenses, the rigging of international interest rates and global foreign exchange markets, the laundering of Mexican drug money, accounting fraud and lying to bank regulators, illegally foreclosing on the homes of delinquent borrowers, credit card fraud, illegal debt-collection practices, rigging of energy markets, and complicity in the Bernie Madoff Ponzi scheme.

 

MUCH, MUCH MORE ON OBAMA’S ECONOMIC CRIMES

PERPETRATED ON BEHALF OF HIS CRONIES ON THE

AMERICAN MIDDLE-CLASS here:
 




One government-organized settlement has followed another, utilizing “deferred prosecution” deals and other gimmicks to allow Wall Street CEOs to get off scot-free. All the banks have had to do is pay largely fictitious fines, much of the nominal amount written off as tax credits.


BANKSTER RAHM’S VICTORY FOR HIS 1% CRONIES – FIRST ON THE RAHM AGENDA: CUT PENSIONS, MORE “BAILOUTS” FOR CRONY BANKSTERS.



RAHM EMANUEL…. only one more of Obama’s dirty crony banksters implementing OBAMANOMICS: loot from the middle-class and hand it to the 1%!


“Mayor Emanuel embodies the foulest characteristics of American politics in general and the Democratic Party in particular. An operative in the Clinton administration, Emanuel made millions as an investment banker before returning to the White House as Obama’s chief of staff.”

TO WORK IN THE OBAMA ADMINISTRATION, ONE NEEDS TO BE CONNECTED AND ACTIVELY SERVING OBAMA’S CRONY BANKSTERS, or be a member of the MEXICAN FASCIST PARTY of LA RAZA, as both Obama’s Sec. of Labors, DHS Saldana, and Judge Sotomayor are!

Mayor Emanuel embodies the foulest characteristics of American politics in general and the Democratic Party in particular. An operative in the Clinton administration, Emanuel made millions as an investment banker before returning to the White House as Obama’s chief of staff.


As mayor, Emanuel has pursued the same policies in Chicago as Obama on the national level. He has presided over the closure of 50 schools, attacks on the jobs and pensions of teachers and public employees, and a wave of police violence against youth and working people. The money siphoned from essential services has funded tax cuts and other subsidies for corporations and wealthy investors.

The Democratic and Republican politicians endlessly proclaim that there is no money to meet pressing social needs. But the ranks of multi-millionaires and billionaires continue to grow, along with the obscene levels of wealth they control. These are the paymasters of both corporate-controlled parties.


HILLARY CLINTON VOWS THAT OBAMA’S CRONY CRIMINAL BANKSTERS WILL TAKE OUT ELIZABETH WARREN!


…. Hillary has filled her pockets with dirty Obama bankster money!!!!




AMNESTY: The solution to keep wages depressed


 
“A more recent national survey by the Federal Reserve, based on 2013 data, suggests the problem has not only persisted as the economy recovered but may even have worsened. More than 30 percent of Americans reported spikes and dips in their incomes. Among that group, 42 percent cited an irregular work schedule; an additional 27 percent blamed a span of joblessness or seasonal work.”

“In the two advanced countries with the greatest income inequality, Spain and the United States, job losses and wage cuts accounted for nearly all the increase in inequality.”


CRONY CAPITALISM… predicated on keeping wages depressed to third world levels for his billionaire donors!  
 

Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses…and Muslim Dictators


 
…. YOUR OPEN BORDERS DEMOCRAT POL AT WORK …. for illegals!

Net Job Growth Since Recession Still To Foreign-Born
 


The Bureau of Labor Statistics’ March job’s data released Friday — as in previous months — again shows that net employment growth in the U.S. since the beginning of the recession has gone to foreign-born workers.

From the beginning of the recession in December of 2007 through March of this year, while the native-born population has experienced a net decline in employment, their foreign-born counterparts have experienced a net increase.

 
MEX DRUG ADDICTED AMERICA – BUILDING THE LA RAZA OCCUPATION AND OBAMA DICTATORSHIP


THE OBAMA – LA RAZA CONSPIRACY: Will the Mexican Drug Cartels Help Obama finish off the American Middle-Class and advance his designs on being America’s first dictator?

From his first day in office, Barack Obama has sabotaged America’s borders and laws to facilitate Mexico’s invasion and wholesale looting of the American economy!

http://mexicanoccupation.blogspot.com/2015/04/the-obama-conspiracy-for-mexican-drug.html

THE OBAMA, PELOSI, REID, FEINSTEIN, BOXER bit by bit amnesty conspiracy… IT’S WORKING!

By Mark Krikorian

“A number of Alice in Wonderland euphemisms for such executive amnesties have been concocted over the years, including Deferred Action, Extended Voluntary Departure, Deferred Enforced Departure, and Parole in Place. What they have in common is that they were made up out of whole cloth by the executive as ways of LETTING ILLEGAL ALIENS STAY.”


“Childhood Arrivals (DACA). So far more than half a million illegal immigrants claiming to have arrived here before age 16 have been legalized by the president’s unilateral riff on the Dream Act”.

Obama has been “quite aggressive and he’s been creative in looking for every possible avenue to take matters into his own hands,” Woolley added.


 

HOW MANY ISIS WILL BE IN THESE TENS OF THOUSANDS OF ILLEGALS
 
NOW HEADED TOWARDS OUR BORDERS IN ANTICIPATION OF OBAMA’S
 
AMNESTY???


THE SECOND WAVE OF ILLEGALS ARRIVES SOON! Viva La Raza Supremacy?

 

BUT HAS OBAMA HIDDEN THE FIRST HUNDRED THOUSAND INVADERS YET?

 

OR ARE THEY OUT REGISTERING TO VOTE DEM BEFORE THEY HEAD TO THE LA RAZA WELFARE OFFICES???

 


 

 

Obama’s Promise of Homeland Security to Americans (Legals) and his Vow to Illegals of Open and Undefended Borders With Narcomex


 

BLANKET AMNESTY is at hand…. 40 million illegals occupying America can now vote (legally) for even more.


“We cannot afford all this illegal immigration and everything that comes with it. Everything from the crime to the drugs and the kidnappings and extortion and the beheadings and the fact that people can't feel safe in their  communities.”  - AZ Gov. Jan Brewer



MELTDOWN

BARACK OBAMA will finally leave office having destroyed the American middle-class, leaving a nation with staggering debts and open borders invaded and looted by NARCOmex.
He will go off and collect tens of millions in backend bribes from his crony banksters in the form of “speaking fees”.

This “Hope and Change” clown who was nothing more than Bush’s third and fourth terms on steroids will continue to blame the republican party he hoped to destroy with amnesty for 40 million looting Mexicans.


IMF report: No end to economic breakdown


Almost six years after the eruption of the global financial crisis, the International Monetary Fund has effectively ruled out any return to the economic growth rates that preceded September 2008.

 

BANKSTER-FUNDED CANDIDATE FOR OBAMA'S AMNESTY HOAX TO LEGALIZE MEXICO'S LOOTING - Hillary Clinton announces presidential campaign

Hillary Clinton announces presidential campaign

HILLARY CLINTON: A dedicated disciple of OBAMANOMICS – Why else would his banksters invest so much in her???

 
“That her candidacy is announced without calling for any particular policies underscores the fact that the election is not about the American people deciding the course of policy, but rather the vetting

Hillary Clinton announces presidential campaign

By Andre Damon
13 April 2015
Former First Lady Hillary Clinton officially announced Sunday she would seek the Democratic nomination for president of the United States in the 2016 election.


In addition to being the Democratic frontrunner, Clinton, having served as Secretary of State under Obama, is the candidate most closely tied to the incumbent administration. Given the centrality of the Clinton campaign to the 2016 election and the American political system, the announcement sets the tone for the entire election.

Eschewing a traditional speech at a campaign rally, Clinton made her announcement in a two-minute online video that is almost entirely devoid of political content and noteworthy for its striking banality, even by the standards of American politics.

The first minute and a half of Clinton’s announcement video consists of actors (or people who seem to be actors) portraying “ordinary” Americans speaking about their plans in the coming years. This includes one anonymous couple declaring, “We’ve been doing a lot of home renovations, but most importantly we just want to keep our dog from eating the trash.”

Three quarters of the way through the video, Clinton makes her first appearance, declaring, “I’m getting ready to do something too. I’m running for president.”

In other words, Clinton is declaring her bid for an office from which she could, at virtually her sole discretion, incinerate most of mankind in a nuclear apocalypse, in almost the same breath as random people talking about their dogs.

That the most significant candidate in the election chooses to announce her candidacy in such entirely vacuous fashion is an expression of the well-advanced decay of democratic norms in the United States, and the enormous chasm that exists between official politics and the sentiments and concerns of the great majority of the population.

That her candidacy is announced without calling for any particular policies underscores the fact that the election is not about the American people deciding the course of policy, but rather the vetting of candidates to serve the interest of the financial oligarchy.

Indeed, the utter lack of political content in the announcement is a testament to how little voters actually mean in an election decided by a handful of billionaires, together with the military/intelligence apparatus.

The purpose of the saccharine video is not to convince the

population that Clinton represents their interests, but rather to

mobilize her base among the affluent upper-middle class while

making no statements that would draw criticism from the

Republican right.

The remaining content of Clinton’s campaign announcement, in its entirety, is as follows: “Americans have fought their way back from tough economic times, but the deck is still stacked in favor of those at the top. Everyday Americans need a champion, and I want to be that champion.

“So you can do more than just get by, you can get ahead. And stay ahead, because when families are strong America is strong. So I’m hitting the road to earn your vote, because it’s your time, and I hope you’ll join me on this journey.”

There is, of course, no acknowledgment that

Clinton was part of an administration that oversaw

and continues to oversee the greatest transfer of

wealth from the bottom to “those at the top” in US

history.

Clinton’s new campaign website is equally empty. There is not a single word on the entire site about what the nominee stands for, only a brief biography of Clinton with personal and family photos and forms to donate and volunteer.

Referencing the content of video, Politico commented that Clinton “is under intense scrutiny,
however, to show that she has learned lessons from her unsuccessful prior run, in which she was seen as out-of-touch with middle-class sensibilities.”

In June 2014, Clinton told the Guardian she is “unlike” the “truly well off,” despite the fact that she had made $5 million in speaking fees over the previous 15 months, putting her within the top 0.1 percent of income earners.

Earlier that month, Clinton told ABC News she and her husband Bill Clinton “came out of the White House... dead broke.” Yet between 2000 and 2007, Bill and Hillary Clinton earned a combined $109 million in speaking fees, charging as much as $300,000 per appearance.

The video fails to note Clinton’s record as Obama’s secretary of state between 2009 and 2013. But as Time magazine wrote last year: “As Secretary of State, Clinton backed a bold escalation of the Afghanistan war. She pressed Obama to arm the Syrian rebels, and later endorsed air strikes against the Assad regime. She backed intervention in Libya, and her State Department helped enable Obama’s expansion of lethal drone strikes. In fact, Clinton may have been the administration’s most reliable advocate for military action. On at least three crucial issues—Afghanistan, Libya, and the bin Laden raid—Clinton took a more aggressive line than Gates, a Bush-appointed Republican.”

The benign, motherly posture of Clinton in the video does not quite square with the cold-blooded character of the former secretary of state who upon hearing of Libyan President Muammar Gaddafi’s lynching by US-backed Islamic fundamentalist forces laughingly told a reporter, “We came, we saw, he died.”

Among the main aims of the video announcement is to portray Clinton, a multi-millionaire who is well-connected with the highest echelons of the military and intelligence apparatus, as an “ordinary” American, who is “in touch” with the “middle class.” It is entirely telling that Clinton attempts to convey this phony message without addressing any of the realities of American life, from mass unemployment to falling wages, police killings and the danger of war.

The end result is something that resembles a life insurance commercial more than a political statement, and stands as a testament to the sclerotic character of American politics.