Saturday, April 7, 2018

OBAMA AND ERIC HOLDER'S PAYMASTER JAMIE DIMON DECLARES THE RICH MUST KEEP FUCKING OVER THE AMERICAN WORKER LIKE OBAMA DID FOR 8 YEARS!

THE OBAMA-CLINTON SWAMP…. How close they came to destroying American democracy…. It’ what happens when two psychopath lawyers are permitted to run for office!


JAMIE DIMON: AMERICA'S MOST CRIMINAL BANKSTER.... STILL ON THE LAM THANKS TO HIS RENT BOYS, OBAMA AND ERIC HOLDER!

THESE FUCKING BANKSTERS LOOTED MORE THAN $11 TRILLION DOLLARS FROM U.S. HOME EQUITY WITH THEIR TOXIC MORTGAGE SCAMS. AND THEY'RE STILL PLUNDERING US!


Records show that four out of Obama's top five contributors are employees of financial industry giants -Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207)
and Citigroup ($358,054)….. BUT HE KEPT THEM ALL OUT OF PRISON AND PLUNDERING FOR BOTTOMLESS BAILOUTS!

"The corporate-financial elite is preparing the most 

ruthless measures—economic and political—to 

counter the emerging rebellion of US workers 

against the government, the corporations and the 

corporatist trade unions that do their bidding."






THE RICH NEVER LET UP ON THEIR ASSAULTS ON THE AMERICAN MIDDLE CLASS!



95 MILLION AMERICANS (Legals) HAVE NO WORK AS THE BORDERS ARE FLOODED WITH FOREIGNERS SUCKING UP JOBS, WELFARE AND VOTING DEMOCRAT FOR MORE!
http://mexicanoccupation.blogspot.com/2017/11/john-binder-in-era-of-terrorism-and.html

JPMorgan CEO threatens rate hikes to break wages movement by US workers

By Barry Grey
7 April 2018
In the midst of an expanding wave of teachers’ strikes in the US and mounting class battles in Europe, intensive discussions are underway within the American ruling class on measures to prevent the growth of a militant nationwide movement for higher wages and benefits. The corporate-financial elite is preparing the most ruthless measures—economic and political—to counter the emerging rebellion of US workers against the government, the corporations and the corporatist trade unions that do their bidding.
On Thursday, JPMorgan Chase CEO Jamie Dimon, who heads the largest US bank and is often called “the most powerful banker in the world,” warned of rising wages and raised the possibility of a sharp rise in interest rates to put a brake on economic growth and drive up unemployment. The aim of such a policy would be to weaken the working class and break its resistance to austerity and wage cutting.
In his annual letter to shareholders, Dimon wrote: “I believe that many people underestimate the possibility of higher inflation and wages, which means they might be underestimating the chance that the Federal Reserve may have to raise rates faster than we think…
“If growth in America is accelerating, which it seems to be, and any remaining slack in the labor markets is disappearing—and wages start going up, as do commodity prices—then it is not an unreasonable possibility that inflation could go higher than people might expect.
“As a result, the Federal Reserve will also need to raise rates faster and higher than people might expect.”
Significantly, Dimon cited the precedent of then-Fed Chairman Paul Volcker’s shock increase in interest rates in August of 1979, which precipitated the deep recession of 1980-82. The Reagan administration exploited the wave of plant closures and layoffs that followed the near doubling of interest rates to launch an anti-working class offensive and social counterrevolution that has continued to this day, under Democratic no less than Republican presidents.
The appointment of Volcker by Democratic President Jimmy Carter followed the 111-day national coal miners’ strike of 1977-78, in which the miners defied Carter’s back-to-work Taft-Hartley injunction, shaking the authority of the entire state. Volcker’s recessionary measures were followed by Reagan’s firing and blacklisting of the PATCO air traffic controllers in 1981, which was the signal for a decade of union-busting, wage cutting and strikebreaking, made possible by the treachery of the union leadership.
Dimon wrote: “Remember that former Chairman of the Federal Reserve Paul Volcker increased the discount rate by 100 basis points on a Saturday night back in 1979 in response to a serious double-digit inflation problem. And when markets opened the next business day, the Fed funds rate went up by over 200 basis points.”
In his letter, Dimon acknowledged that the course he was suggesting could lead to an implosion of stock prices, noting, “In this case, markets will get more volatile as all asset prices adjust to a new and maybe not-so-positive environment.”
“There is a risk that volatile and declining markets can lead to market panic,” he added.
He alluded to the ultra-low interest rate regime that has been maintained for more than three decades by the Fed, with near-zero rates put in place following the 2008 market crash, which has fueled the staggering rise in stock prices and accompanying enrichment of the corporate-financial elite. “While in the past,” he said, “interest rates have been lower and for longer than people expected, they may go higher and faster than people expect.”
The social basis for the stock market boom has been the suppression of the class struggle. This has been accomplished above all by the transformation of the trade unions into corporatist adjuncts of the government and big business. The central preoccupation of these anti-working class organizations has been to prevent strikes and isolate and betray them when they broke out, resulting in record low levels of strike activity, especially since the 2008 financial crisis.
What particularly alarms the ruling class in the current wave of strikes and protests by teachers in West Virginia, Oklahoma, Kentucky, Arizona and other states is the fact that they have been organized by rank-and-file teachers independently of and increasingly in defiance of the unions.
The New York Times recently quoted a teacher in the leadership of a rank-and-file group in Arizona as saying, “Our unions have been weakened so much that a lot of teachers don’t have faith in them.” The newspaper noted that the walkouts to date have occurred in states where the teachers unions are weak, the majority of teachers are not union members, and state laws bar unions from compelling workers to pay union dues. It has written worriedly of teachers using social media “to organize and act outside the usual parameters of traditional unionism.”
It and other capitalist media are commenting on the “tight” labor market and danger of the economy “overheating.” This week alone, the Wall Street Journal published two front-page articles on this theme, one with the headline “Iowa’s Labor Plight: Too Many Jobs,” and the other with a headline noting that “jobs outnumber workers” in Elkhart, Indiana, the center of recreational vehicle manufacturing in the US.

BLOG: THERE IS NOT A BILLIONAIRE IN AMERICA THAT DOES NOT WANT OPEN BORDERS, HELL NO TO E-VERIFY, AMNESTY AND ENDLESS HORDES JUMPING OUR BORDERS AND JOBS.... all to keep wages depressed!
In essence, Dimon is telling the ruling class that regardless the consequences for stock prices and the fortunes and profits of significant sections of the corporate elite itself, the stability and continued rule of the capitalist class as a whole may require drastic measures to undermine workers’ militancy and step up the war on the working class.
Fear within the ruling elite of a wages movement was underscored Friday when US stock prices plunged following the release by the Labor Department of the March employment report. Alarm over the outbreak of a trade war between the US and China was compounded by the news that US wages had risen 2.7 percent year-over-year.
Two months ago, the Dow Jones Industrial Average plunged 665 points when the January jobs report showed a wage increase of 2.9 percent. But that was before the outbreak of the teachers’ strikes. This time, the very modest wage increase for March contributed to a drop in the Dow of 572 points.
As Dimon’s letter indicated, a rise in interest rates is only one component of an intensification of the offensive against the working class. The weakening of the working class by means of mass unemployment is to be accompanied by a frontal attack on what remains of basic social programs.
“The real problem with our deficit,” Dimon wrote, “is the uncontrolled growth of our entitlement programs… The extraordinary growth of Medicare, Medicaid and Social Security is jeopardizing our fiscal situation.”
Social Security could be “fixed,” the multimillionaire banker said, “by changing the qualification age and means testing, among other things.” He pointed out that when the program was initiated in 1935, the average life span after retirement was 13 years, while today it is 25. In other words, the destruction of health care for workers must be carried through to dramatically lower their life expectancy.
In his letter, Dimon did not spell out the political corollaries of his economic and social policies. However, in May of 2013, his bank issued a report on the euro area calling for the overturning of the bourgeois democratic constitutions established in Europe after World War II. The document, “The Euro Area Adjustment—About Half-Way There,” called for measures to protect the major international banks and stressed the need for “political reforms” of a dictatorial character to impose the necessary attacks on the working class.
The American financial oligarchy and the state are already beginning to implement similar measures to crack down on working-class opposition in the US, including the drive to censor the Internet and criminalize political dissent in the name of combating “fake news” and “Russian meddling.”


Top Banker Wants More Cheap White-Collar Immigrants




Every foreigner who graduates from American universities should be given green cards so they can compete for Americans’ white-collar jobs, according to the chairman of JPMorgan Chase & Co. bank.

Chairman Jamie Dimon’s call for more white-collar skilled immigration comes as U.S. companies rush to use the government’s offer of 85,000 H-1B visas which allow foreign college graduates to work in the U.S. for at least three years. When the H-1B is combined with various other visa-worker programs, more than 1 million college-grad guest workers are already holding U.S. jobs — and cutting salaries for American graduates.
“Those who get an advanced degree in the United States should receive a green card along with their diploma,” Dimon said in his annual letter to investors. “We need these skilled individuals in America.”
“Forty percent of foreign students who receive advanced degrees in science, technology and math (300,000 students annually) have no legal way of staying here, although many would choose to do so,” he said in the April 5 letter. “Most students from countries outside the United States pay full freight to attend our universities but many are forced to take the training back home.”
Dimon is an investor, not an employee, so he makes more money by expanding the size of the economy and growing values on Wall Street, almost regardless of employees’ per-capita wages and salaries.
JPMorgan is already a huge user of the H-1B program and has requested roughly 6,000 H-1B visas since 2014.

Democrat leader on Wall St asks CEOs to work with unions to raise wages, so preserving "workers’ confidence in the economic system." But Rubin opposes immigration reform to raise wages via a tight labor market. That's bad for Wall Street (and the party). http://bit.ly/2oNVt73 

Dimon caveated his call for cheaper labor by focusing on people with “advanced degrees in science, technology and math.”
But that caveat means little for American graduates because most skilled degrees include at least one of these subjects, such as statistics in a business degree and medical biology in a healthcare degrees. The federal government already lists a very wide variety of white-collar and skilled blue-collar jobs which can be won by foreign college graduate via the “Optional Practical Training” program. The list includes:
dairy science… horticultural science…  environmental studies … natural resources conservation … urban forestry … artificial intelligence … computer graphics … solar energy … naval science … cyber/electronic operations and warfare … nutrition sciences … sustainability studies … child psychology … archaeology … medical science … veterinary physiology … business statistics … management science.
Dimon’s call for more and cheaper white-collar labor is echoed by other business groups, including FWD.us, a lobby for information-technology investors.
In 2013, the Senate’s “Gang of Eight” immigration-and-amnesty bill included a section allowing universities to get green cards for all of their foreign customers. If the measure had passed, the white-collar labor market would have been flooded with a potentially unlimited supply of foreign college-grad seeking to work and living in the United States. That oversupply would have cut salaries for millions of young Americans graduates who need to pay their college debts, get married, buy houses and support children.
But it was opposition from voters — amid near-universal support in the established media — which killed the cheap white-collar labor provision and the amnesty bill. That opposition was recognized by New York real-estate investor Donald Trump, who used it to win the White House in 2016.
University groups strongly support the proposal to give their customers the hugely valuable bonus of green cards and citizenship. If made law, it would effectively allow academics and administrators — and the owners of private universities — to pocket the proceeds from selling the hugely valuable prize of Americans’ citizenship.
Four million Americans turn 18 each year and begin looking for good jobs in the free market.
But the federal government inflates the supply of new labor by annually accepting roughly 1.1 million new legal immigrants, by providing work-permits to roughly 3 million resident foreigners, and by doing little to block the employment of roughly 8 million illegal immigrants.
The Washington-imposed economic policy of economic growth via mass-immigration shifts wealth from young people towards older people, it floods the market with foreign laborspikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by blue-collar and white-collar employees. It also drives up real estate priceswidens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million marginalized Americans and their families, including many who are now struggling with opioid addictions.

EVEN BEFORE HE TOOK OFFICE, BARACK OBAMA HAD SUCKED IN MORE BRIBES FROM CRIMINAL BANKSTERS THAN ANY OTHER PRESIDENT IN HISTORY!

Records show that four out of Obama's top five contributors are employees of financial industry giants -Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207)
and Citigroup ($358,054)….. BUT HE KEPT THEM ALL OUT OF PRISON AND PLUNDERING FOR BOTTOMLESS BAILOUTS!

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