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!
"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
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). 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 labor, spikes 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 prices, widens 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!
WHO, BUT FEINSTEIN and HILLARY WORK HARDER FOR CRIMINAL BANKSTERS AND THE LA RAZA HORDES THAN THIS CORRUPT BITCH???
THE PLUNDERING BARONESS PELOSI:
Nancy Pelosi triples her loot since the banksters nearly destroyed America’s economy and demands endless hordes of illegals to keep wages depressed!
Pelosi: ‘Wealthiest 1% Continue to Hoard the Benefits of the U.S. Economy’
House Minority Leader Nancy Pelosi (Screen Capture)
(CNSNews.com) - House Minority Leader Nancy Pelosi (D.-Calif.) said today that the jobs report for March, which showed unemployment holding at 4.1 percent, indicates that “the wealthiest 1 percent continue to hoard the benefits of the U.S. economy.”
DEMS ARE THE PARTY FOR OPEN BORDERS, LA RAZA SUPREMACY, NO E-VERIFY AND NO LEGAL NEED APPLY!
"Democrats will never stop fighting for the hard-working middle class families who are the backbone of our nation," Pelosi said.
Here is Pelosi’s statement following the release of the March jobs report by the Bureau of Labor Statistics:
“March’s disappointing jobs report shows that corporations and the wealthiest 1 percent continue to hoard the benefits of the U.S. economy. Powerful special interests are reaping massive windfalls from the GOP tax scam, while workers are denied the raises and good-paying jobs they deserve.
“From the start, the White House and Republicans in Congress have put themselves and their rich donors first, and the American people last. Corporations are cheering their huge new tax breaks by enriching their executives and investors, while hard-working men and women see little help and rising health costs.
“Democrats are fighting to give the American people a better deal, with better jobs, better wages and a better future. We are committed to creating millions of new good-paying jobs and raising wages, lowering the soaring cost of living for families and giving every American the tools to succeed in the 21st Century economy. Democrats will never stop fighting for the hard-working middle class families who are the backbone of our nation.”
NANCY PELOSI, and her LA RAZA SISTERS, SEN. DIANNE FEINSTEIN, FORMER SEN. BARBARA BOXER and NOW SEN. KAMALA HARRIS are a pantheon of staggering self-serving corruption.
They and their families have all gotten filthy rich off of these women’s elected office.
Their endless hispandering for the illegals’ votes has turned California into Mexifornia, a drug, gang and anchor baby welfare third-world dumpster!
“Liberal governing has transformed beautiful California into the poverty capital of America with the worst quality of life. Crazy taxes, crazy high cost of living, and crazy overreaching regulations have crushed the middle class, forcing the middle class to exit the Sunshine State. All that is left in California are illegals feeding at the breast of the state, rapidly growing massive homeless tent cities, and the mega-rich.” LLOYD MARCUS
Pelosi - Illegals - Sunkist - Her investments!
ANYONE KNOW IF THE OL’ BARONESS AND CLOSET REPUBLICAN USES ILLEGALS AT THER ST. HELENA, NAPA WINERY? SHE’S LOTHE TO PAY LEGALS A LIVING WAGES. BUT THEN THE CATASTROPHIC NAPA FIRE WAS CAUSED BY ONE OF HER ILLEGALS, SO PERHAPS HER PLACE BURNED DOWN!
Pelosi's corrupt insider passing of bills that make her rich.
________________________________________
Check for yourself
http://www.factcheck.org/askfactcheck/did_nancy_pelosi_get_wage_breaks_and.html
Speaker of the House Nancy Pelosi's home House District includes San Francisco.
Star-Kist Tuna's headquarters are in San Francisco, Pelosi's home district.
Star-Kist is owned by Del Monte Foods and is a major contributor to Pelosi.
Star-Kist is the major employer in American Samoa employing 75% of the Samoan workforce.
Paul Pelosi, Nancy's husband, owns $17 million dollars of Star-Kist stock.
In January, 2007 when the minimum wage was increased from $5.15 to $7.25, Pelosi had American Samoa exempted from the increase so Del Monte would not have to pay the higher wage. This would make Del Monte products less expensive than their competition's.
Last week when the huge bailout bill was passed, Pelosi added an earmark to the final bill adding $33 million dollars for an "economic development credit in American Samoa".
Pelosi has called the Bush Administration "corrupt".
Check some more for yourself
http://www.snopes.com/politics/pelosi/americansamoa.asp
CHRISTIAN SCIENCE MONITOR
What will America stand for in 2050?
The US should think long and hard about the high number of Latino immigrants.
By Lawrence Harrison
PALO ALTO, CALIF.
President Obama has encouraged Americans to start laying a new foundation for the country – on a number of fronts. He has stressed that we'll need to have the courage to make some hard choices. One of those hard choices is how to handle immigration. The US must get serious about the tide of legal and illegal immigrants, above all from Latin America.
It's not just a short-run issue of immigrants competing with citizens for jobs as unemployment approaches 10 percent or the number of uninsured straining the quality of healthcare. Heavy immigration from Latin America threatens our cohesiveness as a nation.
The political realities of the rapidly growing Latino population are such that Mr. Obama may be the last president who can avert the permanent, vast underclass implied by the current Census Bureau projection for 2050.
STAGNANT WAGES and the Dem Party’s obsession with open borders, amnesty and no damned legal need apply!
THE LA RAZA SUPREMACY PARTY for OPEN BORDERS, AMNESTY, NON-ENFORCEMENT, NO E-VERIFY and no Legal need apply!!!
The Democratic Party used to be the party of blue collar America- supporting laws and policies that benefited that segment of the U.S. population. Their leaders may still claim to be advocates for American working families, however their duplicitous actions that betray American workers and their families, while undermining national security and public safety, provide clear and incontrovertible evidence of their lies…. MICHAEL CUTLER …FRONTPAGE mag
THE MURDEROUS MEXICANS….IN PELOSI, FEINSTEIN AND KAMALA’S HOMETOWN!
HOW MANY PRAYERS HAS KAMALA HARRIS SAID FOR KATE STEINLE?
Everyday there are 12 Americans murdered and 8 children molested by Mexicans!
Steinle’s murderer, Jose Zarate and been deported 5xs!
"While walking with her father on a pier in San Francisco in 2015, Steinle was shot by the illegal alien. Steinle pleaded with her father to not let her die, but she soon passed in her father’s arms."
“Thirteen years after welfare reform, the share of immigrant-headed households (legal and illegal) with a child (under age 18) using at least one welfare program continues to be very high. This is partly due to the large share of immigrants with low levels of education and their resulting low incomes — not their legal status or an unwillingness to work. The major welfare programs examined in this report include cash assistance, food assistance, Medicaid, and public and subsidized housing.” Steven A. Camarota
*
THE ONCE GOLDEN STATE of CALIFORNA, NOW A LA RAZA MEX
WELFARE STATE, IS No. 48 OF 50 STATES IN LOWER EDUCATION!
MEXICANS LOATHE LITERACY AND ENGLISH… SUCH APES THE
GRINGO WHOM THEY HATE!
http://mexicanoccupation.blogspot.com/2017/08/heres-reason-why-ca-schools-are-no.html
“Mexicans abhor education. In their country, illiteracy dominates. As they arrive in our country, only 9.6 percent of fourth generation Mexicans earn a high school diploma. Mexico does not promote educational values. This makes them the least educated of any Americans or immigrants. The rate of illiteracy in Mexico stands at 63 percent." FROSTY WOOLRIDGE
“Third-generation Latinos are more often disconnected — that is, they neither attend school nor find employment.” Kay S. Hymowitz
MEXIFORNIA: WHERE LA RAZA AND THEIR CARTELS LOOT FIRST!
CALIFORNIA…. LAND OF POVERTY, WELFARE FOR ANCHOR BABY BREEDERS and MEXICANS WHO JUMPED THE BORDERS TO VOTE FOR MORE!
California became a Democratic stronghold not because Californians became socialists, but because millions of socialists moved there. Immigration turned California blue, and immigration is ultimately to blame for California's high poverty level.
California used to be home to America's largest and most affluent middle class. Today, it is America's poverty capital. What went wrong? In a word: immigration. SPENCER P. MORRISON
California used to be home to America's largest and most affluent middle class. Today, it is America's poverty capital. What went wrong? In a word: immigration. SPENCER P. MORRISON
*
“Thirteen years after welfare reform, the share of immigrant-headed households (legal and illegal) with a child (under age 18) using at least one welfare program continues to be very high. This is partly due to the large share of immigrants with low levels of education and their resulting low incomes — not their legal status or an unwillingness to work. The major welfare programs examined in this report include cash assistance, food assistance, Medicaid, and public and subsidized housing.” Steven A. Camarota
*
ILLEGALS CLIMBING CALIFORNIA’S BORDERS FOR JOBS AND WELFARE: SAN DIEGO … Mexicans (unregistered democrat anchor baby breeders (1,877).
In just the month of October 2017 CBP Border Patrol San Diego border sector reported apprehension of individuals from Bangladesh (12), Brazil (1), Camaroon (3), Chad (1), China (16), El Salvador (76), Eritrea (7), Gambia (4), Guatemala (178), Honduras (54), India (101), Iran (1), Mexico (1,877), Nepal (31), Nicaragua (1), Pakistan (13), Peru (1), Somalia (1), and “Unknown” (1) — a total of 2,379 individuals. These numbers are similar to volumes seen in this sector for October since 2012. MICHELLE MOONS
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