Wednesday, July 1, 2015

THE OBAMA LIES! - Obama proposes rules to expand overtime pay for salaried workers

Obama proposes rules to expand overtime pay for salaried workers

Obama proposes rules to expand overtime pay for salaried workers

By Andre Damon
1 July 2015
The Obama administration announced a plan Tuesday to expand the share of US salaried workers eligible to receive overtime pay. Despite being touted as a major new policy initiative by the White House, the proposal, which would not be implemented until 2016, would affect a mere 3.5 percent of the US workforce.



SEN. RICK SANTORUM:

“Part of the problem, Santorum said, has been the arrival of millions of unskilled immigrants — legal and illegal — in the United States. "American workers deserve a shot at [good] jobs," Santorum said. "Over the last 20 years, we have brought into this country, legally and illegally, 35 MILLION  mostly unskilled workers. And the result, over that same period of time, workers' wages and family incomes have flatlined." SEN. RICK SANTORUM




 
JOBS 71% GO TO FOREIGNERS.

Report: 71 Percent of New Jobs Go to Foreign Born Legal, Illegal Immigrants in NH | CNS News …. THE AMERICAN MIDDLE CLASS STILL GETS THE TAX BILLS FOR MEXICO’S WELFARE  STATE IN OUR OPEN BORDERS!


ACROSS THE NATION DEM POLS HAVE FOUGHT E-VERIFY TO EASE MILLIONS MORE ILLEGALS INTO OUR JOBS.

THE DEPRESSED WAGES ENDLESS HORDES OF ILLEGALS CAUSE KEEPS DEM PAYMASTERS HAPPY AND GENEROUS…. Amnesty… it’s all about keeping wages depressed and building the DEM LA RAZA PARTY BASE of ILLEGALS!
 
SINCE 2000 ALL JOBS GO TO ILLEGALS
 

AMERICA the failed Nation that Invited Mexico to Invade and loot and then Handed Amnesty to 40 Million Invaders


                                                                                                                                       
THE DEMOCRAT PARTY HAS, WHILE THE GOP
WATCHED, TURNED AMERICAN INTO MEXICO’S JOBS,
WELFARE AND DRUG MARKET.

“The percentage of foreign-born workers in the U.S. labor force has more than tripled over the last four decades and while the U.S. represents just 5 percent of the world’s population it attracts 20 percent of the world’s immigrants, according to a new report.”


 

LOS ANGELES: THE PICTURE OF AMERICA UNDER  LA RAZA MEXICAN OCCUPATION… and their looting is expanded yearly by invitation of the Democrat Party


LOS ANGELES: America and Mexico’s SECOND LARGEST CITY and
 also largest employer and welfare office!

 


OBAMA-CLINTONomics: the final death of the American middle-class



AMNESTY: IT’S ALL ABOUT KEEPING WAGES DEPRESSED.

"While it is not spelt out directly, the BIS critique of the present policies is an expression of the fact that, in the final analysis, the source of all forms of profit is the surplus value extracted from the working class. Therefore, the only way for capital to overcome its crisis and restore stability is a massive increase in exploitation."
 

 

THE OBAMA ASSAULT ON OUR PENSIONS
 

BIGGER PROFITS FOR HIS WALL STREET DONORS IF PENSIONS ARE SLASHED

 
“Feinberg, who as the Obama administration’s “pay tsar” rubber-  stamped multimillion-dollar executive bonuses to Wall Street  banks bailed out with taxpayer funds, will now be given power to slash workers’ benefits at his discretion.”
THE CRONY CLASS:
OBAMA-CLINTONomics was created by BILLARY CLINTON!
Income inequality grows FOUR TIMES FASTER under Obama than Bush.
“By the time of Bill Clinton’s election in 1992, the Democratic Party had completely repudiated its association with the reforms of the New Deal and Great Society periods. Clinton gutted welfare programs to provide an ample supply of cheap labor for the rich (WHICH NOW MEANS OPEN BORDERS AND NO E-VERIFY!), including a growing layer of black capitalists, and passed the 1994 Federal Crime Bill, with its notorious “three strikes” provision that has helped create the largest prison population in the world.”
*
“Calling income and wealth inequality the "great moral issue of our time," Sanders laid out a sweeping, almost unimaginably expensive program to transfer wealth from the richest Americans to the poor and middle class. A $1 trillion public works program to create "13 million good-paying jobs." A $15-an-hour federal minimum wage. "Pay equity" for women. Paid sick leave and vacation for everyone. Higher taxes on the wealthy. Free tuition at all public colleges and universities. A Medicare-for-all single-payer health care system. Expanded Social Security benefits. Universal pre-K.” WASHINGTON EXAMINER
 

THE HIDDEN UNEMPLOYMENT CRISIS IN AMERICA:
 
The Democrat Party’s OPEN BORDERS agenda at work.
 



US income inequality continued to soar in 2014


While the growth of social inequality has dramatically accelerated following the 2008 crash, this is a continuation of a decades-long process. The report notes, “Top 1 percent incomes grew by 80.0% from 1993 to 2014. This implies that top 1 percent incomes captured almost 60% of the overall economic growth of real incomes per family over the period 1993-2014.”

In fact, the US government’s response to the 2008 crash has been dedicated to inflating the wealth of the super-rich while driving down incomes for the vast majority of the population. The White House has protected Wall Street executives from legal prosecution, while the Federal Reserve has handed out trillions of dollars in cheap money through “quantitative easing” programs, leading share values to triple on major US exchanges.

On Thursday, US President Barack Obama plans to unveil what he has called a major new policy initiative in a speech in La Crosse, Wisconsin. The proposal entails new federal rules that would make an additional 3 percent of the US population eligible for overtime pay. If adopted, the change would add a mere $1.3 billion to worker’s wages annually. This is a tiny fraction of the trillions of dollars that have been transferred to the financial elite since the 2008 financial crisis.

US income inequality continued to soar in 2014

By Andre Damon
2 July 2015
Income inequality in the United States continued to grow in 2014, according to updated figures released last week by University of California, Berkeley economist Emmanuel Saez.
According to Saez’s report, the top one percent of income earners increased their share of total income from 20.1 percent in 2013 to 21.2 in 2014 percent.

 

THE NEXT MELTDOWN: Global parasitism creates conditions for a new financial meltdown



CRONY CAPITALISM and the FALL  of A DEMOCRATIC NATION

OBAMA’S LOOTING BANKSTERS AGREE TO FUND HIS DICTATORSHIP… they owned him from day one!


“The vast sums of money pocketed by bank executives are bound up with activities that range from borderline legal to flagrantly illegal. Nearly all of the CEOs included on the list head banks that have been the subject of multiple investigations and fines related to the rigging of global interest and foreign exchange rates, mortgage fraud, money laundering, tax evasion and other crimes.”

 
JUDICIAL WATCH:

OBAMA RANKS AS THE MOST CORRUPT PRESIDENT IN MODERN AMERICAN HISTORY

BARACK OBAMA and the DEATH of the AMERICAN MIDDLE-CLASS.


WITH THE MIDDLE-CLASS DEAD AND BURIED, WILL THE MEXICAN FASCIST PARTY of LA RAZA “The Race” HELP OBAMA BUILD HIS DICTATORSHIP? Do a search for Obama and La Raza Fascism!

 

Global parasitism creates conditions for a new financial meltdown

"While it is not spelt out directly, the BIS critique of the present

policies is an expression of the fact that, in the final analysis, the

source of all forms of profit is the surplus value extracted from the

working class. Therefore, the only way for capital to overcome its

crisis and restore stability is a massive increase in exploitation."

“By the time of Bill Clinton’s election in 1992, the Democratic

Party had completely repudiated its association with the

reforms of the New Deal and Great Society periods. Clinton

gutted welfare programs to provide an ample supply of cheap

labor for the rich (WHICH NOW MEANS OPEN BORDERS

AND NO E-VERIFY!), including a growing layer of black

capitalists, and passed the 1994 Federal Crime Bill, with its

notorious “three strikes” provision that has helped create the

largest prison population in the world.”

Global parasitism creates conditions for a new financial meltdown

1 July 2015
The way in which financial parasitism, fed by the ultra-cheap money policies of the US Federal Reserve and other central banks, is creating conditions for another crisis is revealed in figures on takeovers and mergers in the first half of this year.

According to a report published in the Financial Times on Tuesday, a “heady cocktail of ultra-low financing costs” lifted US merger and acquisition activity to almost $1 trillion in the first six months of the year, an increase of 60 percent over the same period in 2014 and the highest level since records started to be kept in 1980. The price paid to purchase companies has reached new highs, averaging 16 times earnings before interest, taxes, depreciation and amortisation. This compares to 14.3 times in 2007. In one major takeover, the ratio was 20.

The feeding frenzy is now greater than that which preceded the financial crisis of 2008, and it is not confined to the US. Global merger and acquisition activity has risen by 38 percent in the first half of 2015 compared to a year ago, reaching $2.18 trillion, its highest level since 2007.

These figures are another expression of the fact that parasitic activity—purchasing a company, often with borrowed money obtained at very low rates, and carving up its assets—is increasingly replacing productive investment as a source of profits.

But there is a sense, even among participants, that this orgy cannot continue indefinitely. One “senior banker” told the Financial Times that this year “feels like the last days of Pompeii: everyone is wondering when will the volcano erupt.”

Warnings of another financial explosion and the incapacity of central banks and financial authorities to deal with it were at the centre of the annual report of the Bank for International Settlements issued on Sunday.

The BIS, which is sometimes called the central bankers’ bank, has been severely critical of the low-interest regime established by the pouring of money into financial markets by central banks. It was one of the few official institutions to warn of the build-up of conditions for a crisis in the years preceding 2008, and has been critical of the policies pursued since then.

According to the BIS, “In some jurisdictions, monetary policy is already testing its outer limits, to the point of stretching the boundaries to the unthinkable.”

Its report points out that the roots of the crisis are to be found in the steady decline in real interest rates starting in the 1980s. The fall in interest rates gave rise to an increase in debt, meaning it was increasingly difficult to increase rates lest this set off a crisis. When a crisis did emerge, the response was to lower interest rates still further.

In his comments on the report, the head of the BIS monetary and economic department, Claudio Borio, said that real interest rates in the major economies had never been so low for so long. “Rather than reflecting the current weakness,” Borio said, “they [low interest rates] may in part have contributed to it by fuelling costly financial booms and busts and delaying adjustments. The result is too much debt, too little growth and too low interest rates.”

Puncturing the myth that central bankers and monetary authorities are somehow in control of the global financial system and have a clear idea about what they are doing, the BIS report notes that “there is great uncertainty about how the economy works.” It says “risk-taking in financial markets has gone for too long,” and the “illusion that markets will remain liquid when under stress has been too pervasive.”

Fear about the “illusion” of liquidity refers to a situation where investors and speculators all want to sell and suddenly there are no buyers to be found.

The BIS warned that the flooding of the markets, giving rise to record low interest rates, is creating the conditions for a crisis which central bankers may not be able to control because of their previous policies. “The more one stretches an elastic band, the more violently it snaps back,” the report said.
Therefore, there should be a move to normalise monetary policy to meet the situation when the next recession comes, “which will no doubt materialise at some point.” Central banks would not be able to meet that situation by lowering rates because they are already at or near zero. “Of what use is a gun with no bullets left?” the report asks.

The basic thrust of the BIS report is that while financial bubbles, fuelling inflated share buybacks and merger and acquisition deals, may provide solutions in the short term, in the long run they simply create the conditions for another crisis.

While it is not spelt out directly, the BIS critique of the present policies is an expression of the fact that, in the final analysis, the source of all forms of profit is the surplus value extracted from the working class. Therefore, the only way for capital to overcome its crisis and restore stability is a massive increase in exploitation.

Thus, the central policy recommendation in the report is for a shift away from reliance on monetary policy and the imposition of “initiatives that are more structural in character.”


AMNESTY: IT'S ALL ABOUT KEEPING WAGES DEPRESSED FOR GREATER PROFITS!

The bitter experiences of the past decade have already underscored what this means—the destruction of working conditions and cuts to vital social services and other government funding, coupled with “flexibility” of labour markets. An environment conducive to “innovation and entrepreneurship”—that is, a free rein for business—must be established, according to the BIS.

AMNESTY: IT'S ALL ABOUT KEEPING WAGES DEPRESSED FOR GREATER PROFITS!
It also calls for measures aimed at “boosting labour force participation.” This means making available new sources of cheap labour by forcing those on disability or other forms of pensions back into the workforce as their entitlements are slashed.

The report does not spell out how such measures—which are already being implemented in all the major economies—are to be intensified, other than saying that it will be “politically difficult.” The difficulties refer to the fact that their imposition is fundamentally incompatible with the maintenance of any kind of democratic regime.

The BIS chose to keep silent on what its prescriptions meant politically. But a report issued by the American banking and investment giant JPMorgan Chase two years ago spoke out very clearly on what it saw as the major problems in the political systems of a number of countries in Europe, including Greece, Spain, Portugal and Italy.

The constitutions of those countries, it said, had been drawn up after the defeat of fascism and incorporated features inimical to a resolution of the problems for capital created by the financial crisis. These included “weak executives, weak central states relative to regions, constitutional protection of labour rights; consensus-building systems which favour political clientalism, and the right to protest if unwelcome changes are made to the status quo.”

In other words, the kind of political, economic and social conditions that prevailed in fascist regimes, where capital had unrestricted freedom of operation, should be restored.

Two years on, this agenda is being carried out in Greece through the dictates of the European Union, the International Monetary Fund and the European Central Bank, which insist that any expression of the interests of the mass of the people, even within the limited framework of bourgeois democracy, must be overridden and trampled on in the interests of the profit system. But it is not confined to Greece.

The economic and social devastation in Greece does not arise from conditions peculiar to that country, but from the breakdown of the global capitalist system. Greece is the testing ground for the kind of measures to be carried out in every country, which, as the BIS report makes clear, are assuming ever-greater urgency for the financial and corporate elites.

Nick Beams