Tuesday, May 28, 2019

OBAMA'S CHICAGO IN MELTDOWN - THIS IS WHAT HAPPENS TO ALL CITIES ACROSS THE NATION THAT SURRENDER TO DEMOCRATIC PARTY CORRUPTION

"Cold War historian Paul Kengor goes deeply into Obama's communist background in an article in American Spectator, "Our First Red Diaper Baby President," and in an excellent Mark Levin interview.  Another Kengor article describes the Chicago communists whose younger generation include David Axelrod, Valerie Jarrett, and Barack Hussein Obama.  Add the openly Marxist, pro-communist Ayers, and you have many of the key players who put Obama into power." Karin McQuillan



They Destroyed Our Country
“They knew Obama was an unqualified crook; yet they promoted him. They knew Obama was a train wreck waiting to happen; yet they made him president, to the great injury of America and the world. They understood he was only a figurehead, an egomaniac, and a liar; yet they made him king, doing great harm to our republic (perhaps irreparable.)”
THE RISE TO POWER OF BANKSTER-OWNED BARACK OBAMA
'Incompetent' and 'liar' among most frequently used words to describe the president: Pew Research Center
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.




BARACK OBAMA FIDDLES WITH HIS CRONY BANSTERS WHILE CHICAGO BURNS!

"Responsibility for this tragedy lies squarely with the ruling class and its political representatives. Chicago is controlled by the Democrats. It is the political home of Barack Obama and has been run for years by Mayor 
Emanuel, Obama’s former chief of staff and a multi-millionaire former investment banker."

ILLINOIS FALLS TO LA RAZA MAYHEM…. Apparently Illinois did not benefit from 8 years of Barack Obama’s sabotage of Homeland security to build his LA RAZA base of Mexicans

“Illinois is a state full of illegal aliens.  One in seven Illinoisans are immigrants, with 450,000 official illegals.  One point two million jobs are taken by illegals in Illinois.  This is one of the most heavily invaded states in the Union.” --- Timothy Birdnow



THE MANY CRIMINAL LIVES OF BARACK OBAMA AND HILLARY CLINTON



The thuggishness of Barack was clear early on.  There was his land deal, wherein he enriched himself with Tony Rezko in Chicago.  All his political wins came by nefariously taking out his political opponents rather than beating them fairly in the arena of ideas.  Everyone should have known.

OBAMANOMICS: IS IT WORKING???

Millionaires projected to own 46 percent of global private wealth by 2019
By Gabriel Black
Households with more than a million (US) dollars in private wealth are projected to own 46 percent of global private wealth in 2019 according to a new report by the 
Boston Consulting Group (BCG).
This large percentage, however, only includes cash, savings, money market funds and listed securities held through managed investments—collectively known as “private wealth.” It leaves out businesses, residences and luxury goods, which comprise a substantial portion of the rich’s net worth.

At the end of 2014, millionaire households owned about 41 percent of global private wealth, according to BCG. This means that collectively these 17 million households owned roughly $67.24 trillion in liquid assets, or about $4 million per household.

In total, the world added $17.5 trillion of new private wealth between 2013 and 2014. The report notes that nearly three quarters of all these gains came from previously existing wealth. In other words, the vast majority of money gained has been due to pre-existing assets increasing in value—not the creation of new material things.

This trend is the result of the massive infusions of cheap credit into the financial markets by central banks. The policy of “quantitative easing” has led to a dramatic expansion of the stock market even while global economic growth has slumped.

While the wealth of the rich is growing at a breakneck pace, there is a stratification of growth within the super wealthy, skewed towards the very top.

In 2014, those with over $100 million in private wealth saw their wealth increase 11 percent in one year alone. Collectively, these households owned $10 trillion in 2014, 6 percent of the world’s private wealth. According to the report, “This top segment is expected to be the fastest growing, in both the number of households and total wealth.” They are expected to see 12 percent compound growth on their wealth in the next five years.

Those families with wealth between $20 and $100 million also rose substantially in 2014—seeing a 34 percent increase in their wealth in twelve short months. They now own $9 trillion. In five years they will surpass $14 trillion according to the report.

Coming in last in the “high net worth” population are those with between $1 million and $20 million in private wealth. These households are expected to see their wealth grow by 7.2 percent each year, going from $49 trillion to $70.1 trillion dollars, several percentage points below the highest bracket’s 12 percent growth rate.

The gains in private wealth of the ultra-rich stand in sharp contrast to the experience of billions of people around the globe. While wealth accumulation has sharply sped up for the ultra-wealthy, the vast majority of people have not even begun to recover from the past recession.

An Oxfam report from January, for example, shows that the bottom 99 percent of the world’s population went from having about 56 percent of the world’s wealth in 2010 to having 52 percent of it in 2014. Meanwhile the top 1 percent saw its wealth rise from 44 to 48 percent of the world’s wealth.

In 2014 the Russell Sage Foundation found that between 2003 and 2013, the median household net worth of those in the United States fell from $87,992 to $56,335—a drop of 36 percent. While the rich also saw their wealth drop during the recession, they are more than making that money back. Between 2009 and 2012, 95 percent of all the income gains in the US went to the top 1 percent. This is the most distorted post-recession income gain on record.

As the Organization for Economic Co-operation and Development (OECD) has noted, in the United States “between 2007 and 2013, net wealth fell on average 2.3 percent, but it fell ten-times more (26 percent) for those at the bottom 20 percent of the distribution.” The 2015 report concludes that “low-income households have not benefited at all from income growth.”

Another report by Knight Frank, looks at those with wealth exceeding $30 million. The report notes that in 2014 these 172,850 ultra-high-net-worth individuals increased their collective wealth by $700 billion. Their total wealth now rests at $20.8 trillion.

The report also draws attention to the disconnection between the rich and the actual economy. It states that the growth of this ultra-wealthy population “came despite weaker-than-anticipated global economic growth. During 2014 the IMF was forced to downgrade its forecast increase for world output from 3.7 percent to 3.3 percent.”

THE CRONY CLASS:


OBAMACLINTONOMICS 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

OBAMA’S WALL STREET and the LOOTING of AMERICA – SECOND TERM

The corporate cash hoard has likewise reached a new record, hitting an estimated $1.79 trillion in the fourth quarter of last year, up from $1.77 trillion in the previous quarter. Instead of investing the money, however, companies are using it to buy back their own stock and pay out record dividends.

Megan McArdle Discusses How America's Elites Are Rigging the Rules - Newsweek/The Daily Beast special correspondent Megan McArdle joins Scott Rasmussen for a discussion on America's new Mandarin class.




OBAMA’S CRONY CAPITALISM

A NATION RULED BY CRIMINAL WALL STREET BANKSTERS AND OBAMA DONORS




OBAMA-CLINTONomics: The never end war on the American middle-class. But we still get the tax bills for the looting of their Wall Street cronies and their bailouts and billions for Mexico’s welfare state in our borders.

While the wealth of the rich is growing at a breakneck pace, there is a stratification of growth within the super wealthy, skewed towards the very top.                                                                                                    


In 2014, those with over $100 million in private wealth saw their wealth increase 11 percent in one year alone. Collectively, these households owned $10 trillion in 2014, 6 percent of the world’s private wealth. According to the report, “This top segment is expected to be the fastest growing, in both the number of households and total wealth.” They are expected to see 12 percent compound growth on their wealth in the next five years.


In 2014 the Russell Sage Foundation found that between
2003 and 2013, the median household net worth of those in
the United States fell from $87,992 to $56,335—a drop of 36
percent. While the rich also saw their wealth drop during the
recession, they are more than making that money back.

Between 2009 and 2012, 95 percent of all the income gains in the US went to the top 1 percent. This is the most distorted
post-recession income gain on record.


INCOME PLUMMETS UNDER OBAMA AND HIS WALL STREET CRONIES

collapse of household income in the US… STILL BILLIONS IN WELFARE HANDED TO ILLEGALS… they already get our jobs and are voting for more!




INCOME PLUMMETS UNDER OBAMA… most jobs go to illegals.

AS HIS CRONY BANKSTERS CONTINUE TO LOOT, 

INCOMES PLUMMET FOR AMERICANS (LEGALS).

GOOD TIME FOR AMNESTY FOR MILLIONS OF LOOTING MEXICANS?

MORE HERE:

http://mexicanoccupation.blogspot.com/2014/09/and-still-democrat-party-wants-millions.html

“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.”
  
"During the month, some 432,000 people in 

the US gave up looking for a job." 

"The American phenomenon of record stock values fueling an ever greater concentration of wealth at the very top of society, while the economy is starved of productive investment, the social infrastructure crumbles, and working class living standards are driven down by entrenched unemployment, wage-cutting and government austerity policies, is part of a broader global process."


HILLARY CLINTON'S BIGGEST DONORS ARE OBAMA'S CRIMINAL CRONY  BANKSTERS!

"A defining expression of this crisis is the dominance of financial speculation and parasitism, to the point where a narrow international financial aristocracy plunders society’s resources in order to further enrich itself."


 Federal Reserve documents stagnant state of 


Federal Reserve documents stagnant state of US economy

The US Federal Reserve Board last week released its semiannual Monetary Policy Report to Congress, providing an assessment of the state of the American economy and outlining the central bank’s monetary policy going forward. The report, along with Fed Chair Janet Yellen’s testimony before both the House of Representatives and the Senate, as well as a speech by Yellen the previous week in Cleveland, present a grim picture of the reality behind the official talk of economic “recovery.”
In her prepared remarks to Congress last Wednesday and Thursday, Yellen said, “Looking forward, prospects are favorable for further improvement in the US labor market and the economy more broadly.”

She reiterated her assurances that while the Fed would likely begin to raise its benchmark federal funds interest rate later this year from the 0.0 to 0.25 percent level it has maintained since shortly after the 2008 financial crash, it would do so only slowly and gradually, keeping short-term rates well below historically normal levels for an indefinite period.
This was an expected, but nevertheless welcome, signal to the American financial elite, which has enjoyed a spectacular rise in corporate profits, stock values and personal wealth since 2009 thanks to the flood of virtually free money provided by the Fed.

"But as Yellen’s remarks and the Fed report indicate, the explosion of asset values and wealth accumulation at the very top of the economic ladder has occurred alongside an intractable and continuing slump in the real economy."
In her prepared testimony to the House Financial Services Committee and the Senate Banking Committee, Yellen noted the following features of the performance of the US economy over the first six months of 2015:
* A sharp decline in the rate of economic growth as compared to 2014, including an actual contraction in the first quarter of the year.

* A substantial slackening (19 percent) in average monthly job-creation, from 260,000 last year to 210,000 thus far in 2015.

* Declines in domestic spending and industrial production.
In her July 10 speech to the City Club of Cleveland, Yellen cited an even longer list of negative indices, including:

* Growth in real gross domestic product (GDP) since the official beginning of the recovery in June, 2009 has averaged a mere 2.25 percent per year, a full one percentage point less than the average rate over the 25 years preceding what Yellen called the “Great Recession.”

* While manufacturing employment nationwide has increased by about 850,000 since the end of 2009, there are still almost 1.5 million fewer manufacturing jobs than just before the recession.

* Real GDP and industrial production both declined in the first quarter of this year. Industrial production continued to fall in April and May.

* Residential construction (despite extremely low mortgage rates by historical standards) has remained “quote soft.”
* Productivity growth has been “weak,” largely because “Business owners and managers… have not substantially increased their capital expenditures,” and “Businesses are holding large amounts of cash on their balance sheets.”
* Reflecting the general stagnation and even slump in the real economy, core inflation rose by only 1.2 percent over the past 12 months.

The Monetary Policy Report issued by the Fed includes facts that are, if anything, even more alarming, including:
* “Labor productivity in the business sector is reported to have declined in both the fourth quarter of 2014 and the first quarter of 2015.”

* “Exports fell markedly in the first quarter, held back by lackluster growth abroad.”

* “Overall construction activity remains well below its pre-recession levels.”

* “Since the recession began, the gains in… nominal compensation [workers’ wages and benefits] have fallen well short of their pre-recession averages, and growth of real compensation has fallen short of productivity growth over much of this period.”

* “Overall business investment has turned down as investment in the energy sector has plunged. Business investment fell at an annual rate of 2 percent in first quarter… Business outlays for structures outside of the energy sector also declined in the first quarter…”

The report incorporates the Fed’s projections for US economic growth, published following the June meeting of the central bank’s policy-setting Federal Open Market Committee. They include a downward revision of the projection for 2015 to 1.8 percent-2.0 percent from the March projection of 2.3 percent to 2.7 percent.

That the US economy continues to stagnate and even contract is indicated by two surveys released last week while Yellen was testifying before Congress. The Fed reported that factory production failed to increase in June for the second straight month and output in the auto sector fell 3.7 percent. The Commerce Department reported that retail sales unexpectedly fell in June, declining by 0.3 percent.
These statistics follow the employment report for June, which showed that the share of the US working-age population either employed or actively looking for work, known as the labor force participation rate, fell to 62.6 percent, its lowest level in 38 years.
 During the month, some 432,000 people in the US gave up looking for a job.

The disastrous figures on business investment are perhaps the most telling indicators of the underlying crisis of the capitalist system. The Fed report attributes the sharp decline so far this year primarily to the dramatic fall in oil prices and resulting contraction in investment and construction in the energy sector. But the plunge in oil prices is itself a symptom of a general slowdown in the world economy.
Moreover, a dramatic decline in productive investment is common to all of the major industrialized economies of Europe and North America. In its World Economic Outlook of last April, the International Monetary Fund for the first time since the 2008 financial crisis acknowledged that there was no prospect for an early return to pre-recession levels of economic growth, linking this bleak prognosis to a general and pronounced decline in productive investment.
The American phenomenon of record stock values fueling an ever greater concentration of wealth at the very top of society, while the economy is starved of productive investment, the social infrastructure crumbles, and working class living standards are driven down by entrenched unemployment, wage-cutting and government austerity policies, is part of a broader global process.
The economic crisis in the US and internationally is not simply a conjunctural downturn. It is a systemic crisis of global capitalism, centered in the US. 
A defining expression of this crisis is the dominance of financial speculation and parasitism, to the point where a narrow international financial aristocracy plunders society’s resources in order to further enrich itself.

While the economy is starved of productive investment, entirely parasitic and socially destructive activities such as stock buybacks, dividend hikes and mergers and acquisitions return to pre-crash levels and head for new heights. US corporations have spent more on stock buybacks so far this year than on factories and equipment.

The intractable nature of this crisis, within the framework of capitalism, is underscored by the IMF’s updated World Economic Outlook, released earlier this month, which projects that 2015 will be the worst year for economic growth since the height of the recession in 2009.


DESTROYING AMERICAN ONE INVADING ILLEGAL AT A TIME…

IS THE U.S. CHAMBER OF COMMERCE 
THE GREATEST ENEMY OF THE 
AMERICAN (Legal) WORKER?

What this means is that what is good for Main Street will not be good for Wall Street and Big Biz, at least not in the short run. What benefits the American worker -- fair trade policy and tight immigration control -- will initially hurt Big Biz and Wall Street. 










Chicago’s Hemorrhaging Housing Market

High taxes and government debt have soured buyers on Illinois and the nation’s third-largest city.
Spring 2019
Cities
Economy, finance, and budgets

In early 2012, Chicago mayor Rahm Emanuel warned residents and local politicians that, unless the city, along with the state of Illinois, started tackling its deep pension problems, “You won’t recruit a business, you won’t recruit a family to live here.” Seven years later, as Emanuel exits office, it’s becoming clearer what he meant.
A few months ago, Realtor.com predicted that 
Chicago would have the weakest housing activity 
this year among the nation’s top 100 markets. 
Average housing prices in the Windy City still haven’t completely recovered from the real-estate downturn that began in 2009, though property taxes continue to climb. No wonder, then, that Illinois ranks among states losing the most people to other areas of the country, or that some Chicago-area homeowners are taking big losses when they sell their houses. The future doesn’t look brighter. “Taxes are high, the services [that taxes] pay for are terrible, and the debt load is so high, so palpably unsustainable that people have no belief that the resources can be found to turn it all around,” Ball State economist Michael Hicks told the local press last year.
Government-employee unions have pushed legislation that gradually forces local municipalities to ramp up pension contributions, even as efforts to control retirement-system costs have sputtered. The result: higher taxes. Chicago’s annual pension payments have doubled over the last few years, to nearly $1.2 billion, and are set to rise to $2 billion within three years. In 2015, the city passed $543 million in property-tax increases, phased in over three years, to pay for the burden. Every penny that the city collects in property taxes goes into the pension system. The financially troubled Chicago school system has also been raising its share of local homeowner taxes, including a $224 million hike in the 2017 school year. The combined bite now gives Chicago among the highest residential property-tax rates of any American city.
As taxes soar, residents are leaving Illinois and its largest city. From 2011 through 2017, Illinois ranked second among the states in net domestic outmigration, losing 640,000 more residents than it gained from other states, according to a study by demographer Wendell Cox. Chicago is a big reason. A recent Bloomberg study of metropolitan-area migration data found that the city had a net migration loss of 105,000 in 2014; it got worse in 2017, with the net loss totaling 155,000. Governors of some high-tax states, like New York’s Andrew Cuomo, have acknowledged the role that tax increases play in driving residents out, but in Illinois, new governor Jay Pritzker has proposed changing the state’s constitution so that he can institute a progressive income tax on the wealthy—giving them extra incentives to go somewhere else.
It isn’t just the wealthy, who tend to be older, leaving. A new study by demographer William Frey of the migration patterns of millennials (those aged 22 to 38) found that Chicago ranks as the third-least attractive among the nation’s 53 largest metro areas, losing an average of nearly 19,000 more young adults than it gains every year. Those losses account for the bulk of millennial flight from Illinois, which similarly ranks below all but two states in trying to attract young adults. One problem is the flagging local economy. Despite big real-estate deals that have pushed up commercial rents in the Loop, the greater Chicago metro region has averaged less than 1 percent growth in private-sector jobs in each of the last two years.
Every homeowner leaving Illinois puts a house on the market without buying another one locally. That’s one reason the Chicago marketplace is struggling. The average price of a single-family home in Chicago is lower than it was before prices began plunging back in 2009. Nationwide, by contrast, home prices are 30 percent higher than before the crash. One consequence of the lagging recovery is that Chicago has more homes with underwater mortgages—that is, the mortgage is greater than the value of the home—than any other major market. As many as 135,000 of these homeowners may risk default when the next recession hits and prices plummet again. Homeowners are feeling the pinch in other ways, too; local papers are filled with stories of people regretting their investment in a house. Last year, Crain’s Chicago Business told the story of a Chicago-area executive who lost more than half a million on the sale of his home when he retired to move elsewhere. If he had invested the money in the stock market instead, he said, “I’d probably have $6 million now.”
For years, voters in some states have acted as if government financial problems, including massive pension debt, weren’t real. Everything would work out somehow, they seemed to believe. Take a look at Illinois and the nation’s third-largest city to see how that bet is playing out.

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