Saturday, February 16, 2019

THE RICH ARE DIFFERENT THAN US.... Yeah, they're fucking greedy!

THE COMMON DENOMINATOR OF ALL RICH IS AMNESTY, WIDER OPEN BORDERS AND NO LEGAL NEED APPLY... to keep wages depressed!

THE ENTIRE REASON OUR BORDERS ARE WIDE OPEN IS TO KEEP WAGES DEPRESSED.

The past 40 years have seen the consolidation of a plutocratic elite, which has subordinated every aspect of American society to a single goal: amassing ever more colossal amounts of personal wealth. The top one percent have captured all of the increase in national income over the past two decades, and all of the increase in national wealth since the 2008 crash.


GEORGE S OROS AND THE CLINTON GLOBALIST AGENDA FOR BANKSTERS AND WIDEOPEN BORDERS
NEW YORK — Demand Justice, an organization founded by former members of Hillary Clinton’s 2016 presidential campaign and associated with a “social welfare organization” financed by billionaire activist George S oros, is raising money for an eventual court fight against what the group describes as President Trump’s proposed “racist, unnecessary wall.”
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“Obama would declare himself president for life with S oros really running the show, as he did for the entire Obama presidency.”
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“Hillary was always small potatoes, a placeholder as it were. Her health was always suspect. And do you think the plotters would have let a doofus like Tim Kaine take office in the event that Hillary became disabled?”


THE CRONY CLASS:

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.”


Citadel hedge-fund boss Ken Griffin earned an eye-watering income of $870 million in 2018 and has spent $360 million on properties so far this year

  • Billionaire hedge fund manager Ken Griffin, the richest man in Illinois, made an eye-watering $850 million last year , which equates to $435,000 an hour 
  • Griffin's fortune comes from money he has made managing Citadel Advisors, the hedge fund firm he founded in 1990 
  • Griffin bought a penthouse at 220 Central Park South on New York's Central Park South for $238 million
  • The sum is the most money ever paid for a home in the United States - still well behind the world-record $361 million paid for a mansion in Hong Kong
  • Last month Griffin bought an exclusive property in the St. James's section of London for $124 million  
Hedge fund billionaire Ken Griffin netted an estimated fortune of $850 million last year.
The investor, who is the head of Chicago trading firm Citadel, also spent $360 million, or 41% of his 2018 income, on home purchases in the first two months of 2019. 
His earnings last year equate to an estimated hourly wage of $435,000, the New York Post reported. 
Griffin's fortune comes from money he has made managing Citadel Advisors, the hedge fund firm he founded in 1990. 

Hedge fund billionaire Ken Griffin (pictured) netted an estimated fortune of $850 million last year
It had $30 billion in assets under management as of August 2018, a company spokesperson told Bloomberg.
He also owns more than $600 million in personal real estate, including in oceanfront property in Palm Beach, Florida, and condominium units in Manhattan and Chicago and an historic London mansion.
Griffin has donated more than $600 million to a number of non-profit organizations including the University of Chicago, Ann & Robert Lurie Children's Hospital and the American Museum of Natural History, according to Bloomberg. 
He gave $150 million to Harvard for student aid, which was the largest-ever gift to school at the time.
Just last month completed the purchase of a penthouse on New York’s Central Park South for $238 million - the most ever paid for a home in the United States.
The building, 220 Central Park South, is a residential skyscraper that is currently under construction.
Developed by Vornado Realty Trust, the building will have 70 floors and a total of 116 residential units by the time construction is completed.
Ken Griffin is reportedly worth a staggering $9.9 billion. He is one of the most influential figures in the world of finance and has featured numerous times in the Forbes rich list
Ken Griffin is reportedly worth a staggering $9.9 billion. He is one of the most influential figures in the world of finance and has featured numerous times in the Forbes rich list
Hedge fund billionaire Ken Griffin has completed the purchase of a penthouse on New York¿s Central Park South for $238million - the most ever paid for a home in the United States. An artist rendering above shows the view which Griffin can expect to enjoy once he moves into the penthouse
Hedge fund billionaire Ken Griffin has completed the purchase of a penthouse on New York’s Central Park South for $238million - the most ever paid for a home in the United States. An artist rendering above shows the view which Griffin can expect to enjoy once he moves into the penthouse
The rendering above shows a clear view of Central Park. The penthouse unit in the building is a quadplex, meaning it will take up the top four floors
The rendering above shows a clear view of Central Park. The penthouse unit in the building is a quadplex, meaning it will take up the top four floors
The artist rendering above shows a beautiful nighttime view of the Manhattan skyline facing Midtown and Lower Manhattan
The artist rendering above shows a beautiful nighttime view of the Manhattan skyline facing Midtown and Lower Manhattan
Air conditioning will be centralized, and tenants will also be able to use a fitness center and a pool
Air conditioning will be centralized, and tenants will also be able to use a fitness center and a pool
The building will have plenty of amenities for its residents, including a fitness center and a spa and therapy room
The building will have plenty of amenities for its residents, including a fitness center and a spa and therapy room
The artist rendering above shows a car near the entrance to the building. Each prospective buyer was vetted and 'hand picked,' it has been reported
The artist rendering above shows a car near the entrance to the building. Each prospective buyer was vetted and 'hand picked,' it has been reported
The penthouse which Griffin is buying went into contract - meaning an offer was made and accepted - in 2015, but sales of this magnitude take years to close, according to real estate experts.
The building will stand at 950 feet tall, making it one of the tallest buildings in New York City.
It came just days after Mr Griffin bought the exclusive $124 million 3 Carlton Gardens in St James's, near Buckingham Palace in London, which had been on the market for the past two years for $163.5 million. 
Griffin, the richest man in Illinois, closed on a penthouse deal that, once completed, will measure 24,000 square feet, according to The Wall Street Journal.
He was first rumored to be the buyer for the 23,000-square-foot quadplex that stretches from the 50th through 53rd floors in the building,in 2016 according to The Real Deal.
The asking price was $250million. Griffin's company, Citadel, is looking to also expand its presence in New York City.   
According to the Journal, it will soon move into offices at 425 Park Avenue.
His spokesperson told the Journal last month that Griffin was buying the residence at 220 Central Park South because he needed a place to stay when he was in town. 
So far, only a handful of apartments in the building have been sold, according to Curbed New York.
The building’s amenities will include an attended lobby, a concierge, a swimming pool, a lounge, valet services, an event room, and a full service garage.
Residents will also have access to fireplaces, a restaurant, terraces and balconies, and a spa and therapy room. 
All of the units that have been sold went for between $12 million and $30 million.
Steven Roth, the CEO of Vornado Realty Trust, the real estate investment trust, said that about 85 per cent of the building's units are in the process of being sold, according to The New York Times
The map above shows the location of 220 Central Park South - which offers unimpeded views of Central Park
The map above shows the location of 220 Central Park South - which offers unimpeded views of Central Park
The CEO of Vornado Realty Trust, the real estate investment trust, said that about 85 per cent of the building's units are in the process of being sold (pictured currently under construction) 
The CEO of Vornado Realty Trust, the real estate investment trust, said that about 85 per cent of the building's units are in the process of being sold (pictured currently under construction) 
Griffin, the richest man in Illinois, closed on a penthouse that, once completed, will measure 24,000 square feet. The building is seen above under construction
Griffin, the richest man in Illinois, closed on a penthouse that, once completed, will measure 24,000 square feet. The building is seen above under construction
A man feeds a horse a carrot underneath Central Park Tower and 220 Central Park South in December 2018
A man feeds a horse a carrot underneath Central Park Tower and 220 Central Park South in December 2018
The 220 Central Park South building is seen above at sundown in New York City on Wednesday
The 220 Central Park South building is seen above at sundown in New York City on Wednesday
Vornado Realty Trust, a real estate investment trust, is building 220 Central Park South and expects it to generate $1billion in after-tax cash flow and net income once all condo units are sold, a regulatory filing in October showed
Vornado Realty Trust, a real estate investment trust, is building 220 Central Park South and expects it to generate $1billion in after-tax cash flow and net income once all condo units are sold, a regulatory filing in October showed
Tong Tong Zhao, who founded a hotel management company based in China, paid $13.49million for a 2,400-square-foot two bedroom apartment on the 27th floor, according to the Times
Tong Tong Zhao, who founded a hotel management company based in China, paid $13.49million for a 2,400-square-foot two bedroom apartment on the 27th floor, according to the Times
Vornado Realty Trust, a real estate investment trust, is building 220 Central Park South and expects it to generate $1billion in after-tax cash flow and net income once all condo units are sold, a regulatory filing in October showed.  
Griffin will have some fabulously rich and famous neighbors in the building.
British rock legend Sting and his wife, Trudie Styler, have reportedly bought a unit there. 
Tong Tong Zhao, who founded a hotel management company based in China, paid $13.49 million for a 2,400-square-foot two bedroom apartment on the 27th floor, according to the Times. 
The $238 million price tag breaks the previous record for the biggest closing sale in New York City real estate.
While Griffin's purchase is the biggest for a home in the U.S., it still lags behind the most expensive home ever sold in the world - a $361million mansion in Hong Kong.
The home, which is located in the exclusive neighborhood known as 'The Peak,' was purchased by billionaires Yeung Kin-Man and his wife, Lam Wai Ying, according to Mansion Global.
Developed by Vornado Realty Trust, the building will have 70 floors and a total of 116 residential units by the time construction is completed. The image above shows a rendering of the building
Developed by Vornado Realty Trust, the building will have 70 floors and a total of 116 residential units by the time construction is completed. The image above shows a rendering of the building
Another rendering of the building is seen above. The property is the latest addition to Billionaires' Row, the cluster of high-end residential skyscrapers that are located within a couple of blocks of Central Park South
Another rendering of the building is seen above. The property is the latest addition to Billionaires' Row, the cluster of high-end residential skyscrapers that are located within a couple of blocks of Central Park South
The building (seen far left in the above rendering) will stand at 950 feet tall, making it one of the tallest buildings in New York City . It was designed by Robert A.M. Stern, the award-winning architect whose portfolio includes classically styled New York apartment buildings including 15 Central Park West
The building (seen far left in the above rendering) will stand at 950 feet tall, making it one of the tallest buildings in New York City . It was designed by Robert A.M. Stern, the award-winning architect whose portfolio includes classically styled New York apartment buildings including 15 Central Park West
The couple owns a company which sells iPhone screens to Apple. 
Michael Dell, the tech billionaire, set the previous record for the biggest acquisition of Manhattan real estate when he paid $100.5million for a penthouse at One57, the 1,005ft-high luxury condominium at 157 West 57th Street.
Both buildings are located a couple of blocks from each other in the area known as Billionaires’ Row - where a cluster of high-end residential skyscrapers tower over the southern tip of Central Park.

How did the billionaire make his money?

Ken Griffin is reportedly worth an eye-watering $9.9 billion, but how did he make his money?
In 1987, while attending Harvard, he first started trading and even stuck a satellite dish to his dorm so he could get real-time stock quotes.
He graduated with a degree in economics in 1989 and went on to start Citadel, a hedge fund, in 1990.
The company expanded rapidly and by 1998 had grown to a team of more than 100 employees.
Griffin quickly became one of the most influential figures in the world of finance and has featured numerous times in the Forbes rich list.
He is a known philanthropist who has donated to his alma mater Harvard, the Robin Hood Foundation and the Bill and Melinda Gates Foundation. 
This is the second major real estate acquisition by Griffin that has been reported in recent days.
The billionaire bachelor also bought a luxury home a stone's throw from Buckingham Palace in London.
Griffin, the founder and CEO of Chicago-based hedge fund Citadel, snapped up the property in one of the country's most exclusive enclaves for a record $124 million. 
Carlton Gardens in St James's is the latest in a string of homes purchased by father-of-three Griffin, 50, who is worth a reported $9.9 billion. 
A spokeswoman for Griffin told the FT on Tuesday that the billionaire had recently bought the mansion.
The spokesman added: 'It is an historic property with a spectacular location, extraordinary elegance and stunning gardens. It is truly a unique opportunity to own a home in London.' 
It is thought the billionaire bachelor even got the 1820s Grade II-listed home at a $39.2 million discount, as for the past two years it has been on the market for $163.5million. 
The house was sold by the luxury property developer Mike Spink, who bought it for $85.7 million in 2012. 
Griffin will have some fabulously rich and famous neighbors in the building. British rock legend Sting and his wife, Trudie Styler, have reportedly bought a unit there
Griffin will have some fabulously rich and famous neighbors in the building. British rock legend Sting and his wife, Trudie Styler, have reportedly bought a unit there
In 2014, New York financier Barry Rosenstein (above) paid what at the time was a record $137million for a beachfront property in East Hampton, Long Island
In 2014, New York financier Barry Rosenstein (above) paid what at the time was a record $137million for a beachfront property in East Hampton, Long Island
At the time, it was the most expensive home ever purchased in the U.S. In 2017, Rosenstein listed the home for $70million
At the time, it was the most expensive home ever purchased in the U.S. In 2017, Rosenstein listed the home for $70million
The purchase of the penthouse at 220 Central Park South is not Griffin's only foray into New York City real estate. In 2009, he paid $40million for a 12th floor unit at 820 Fifth Avenue (seen above)
The purchase of the penthouse at 220 Central Park South is not Griffin's only foray into New York City real estate. In 2009, he paid $40million for a 12th floor unit at 820 Fifth Avenue (seen above)
In November, Griffin paid a record $58.75 million for the top four floors at 9 West Walton Street, known as No. 9 Walton, in Chicago.
The 25,000-square-foot space may require as much as another $20million to finish the build, according to CBS.   
In addition to these lavish purchases, he also set the record for most money paid for a home in 2015 when he put down $60 million for a Miami Beach penthouse.
Griffin has also spent some $250 million buying up land where he plans to construct a mansion in Palm Beach, Florida.
He bought a London property, Carlton Gardens in St James¿s, is the latest in a string of homes purchased by father-of-three Griffin, 50,
He bought a London property, Carlton Gardens in St James’s, is the latest in a string of homes purchased by father-of-three Griffin, 50,
The purchase of the penthouse at 220 Central Park South is not Griffin's only foray into New York City real estate.
In 2009, he paid $40 million for a 12th floor unit at 820 Fifth Avenue, according to The Real Deal
Griffin bought the property from socialite and philanthropist Lily Safra, the widow of the late Brazilian banking mogul Edmund Safra. 
Griffin is also known to spend big on pricey works of art.
In 2016, he gave $500 million to David Geffen's foundation for two paintings by Jackson Pollock and Willem de Kooning.
It is believed to be one of the art world's largest ever private deals. Griffin also paid nearly £100 million for a luxury home a stone's throw from Buckingham Palace.


THE ENTIRE REASON OUR BORDERS ARE WIDE OPEN IS TO KEEP WAGES DEPRESSED.
The past 40 years have seen the consolidation of a plutocratic elite, which has subordinated every aspect of American society to a single goal: amassing ever more colossal amounts of personal wealth. The top one percent have captured all of the increase in national income over the past two decades, and all of the increase in national wealth since the 2008 crash.

Wealth concentration increases in US and globally

The latest research on wealth inequality by University of California economics professor Gabriel Zucman underscores one of the key social and economic trends since the global financial crisis of 2008. Those at the very top of society, who benefited directly from the orgy of speculation that led to the crash, have seen their wealth accumulate at an even faster rate, while the mass of the population has suffered a major decline.
This trend is most apparent in the United States but is revealed in the data for other countries included in research published by Zucman last month. According to his analysis, the top 1 percent in the US now owns about 40 percent of total household wealth, increasing its share by at least 10 percentage points since 1989. Over the same period “the share of wealth owned by the bottom 90 percent has collapsed in similar proportions.”
The acceleration is even more marked in the highest income levels. The share of wealth owned by the top 0.00025 percent (roughly the 400 richest Americans, according to Forbes Magazine data), rose from 1 percent in the early 1980s to over 3 percent in recent years. A similar tripling of wealth is seen in the top 0.01 percent.
The trend is reflected globally. The proportion of wealth held by the top 1 percent in China, Europe and the US combined has increased from 28 percent in 1980 to around 33 percent today.
As documented in previous studies by Zucman, Thomas Piketty and Emmanuel Saez, wealth concentration in the US has followed a U-shape during the past century. The share of the top 0.1 percent peaked at close to 25 percent in 1929, fell sharply with the onset of the Great Depression in the 1930s and continued to decline into the late 1940s, then stabilised in the 1950s and 1960s. It reached its lowest point in the 1970s, before rising to close to 20 percent in recent years to “levels last seen in the Roaring Twenties.”
This pattern follows the broad curve of economic developments and the class struggle. The 1930s fall in wealth concentration was the outcome of both the financial crisis and the impact of the New Deal measures introduced by President Franklin Roosevelt in order, as he acknowledged, to avert social revolution in the US.
During the 1950s and 1960s and the development of the post-war economic boom, when it was said that a “rising tide lifts all boats,” wealth concentration remained relatively stable. The ongoing increase in wealth concentration since the 1980s is the outcome of two interconnected factors: the rise of financialisation in the US economy, and consequent changes in the accumulation of profit, coupled with the decades-long organised suppression of the class struggle by the trade union bureaucracy.
One of the indicators of the role of finance in boosting the wealth of the ultra-wealthy is that in 1980 the top 0.01 of interest earners had 2.6 percent of all taxable interest, whereas by 2012 this had increased ten-fold to 27.3 percent.
Zucman’s paper details the increase in global wealth inequality. In the US, China and Europe combined, the top 10 percent owns more than 70 percent of the total wealth, the bottom 50 percent less than 2 percent and the middle 40 percent less than 30 percent.
The higher up the income scale, the faster the rate of wealth accumulation. In the US, Europe and China, from 1987 to 2017 the average wealth of the top 1 percent rose by 3.5 percent per year, the top 0.1 percent by 4.4 percent per year, and the top 0.01 percent by 5.6 percent per year.
The trend has been most marked in Russia, following the privatisation of state assets as a result of the dissolution of the Soviet Union by the Stalinist regime. “In Russia, wealth concentration boomed after the transition to capitalism, and inequality appears to be extremely high, on a par or even higher than in the United States,” the report notes.
A parallel development can be seen in the restoration of capitalism in China. In both countries “the available evidence suggests a high increase in wealth inequality over the last two decades.” The top 1 percent wealth share has almost doubled, rising in China from just over 15 percent in 1995 to 30 percent in 2015 and in Russia from below 22 percent to around 43 percent.
Zucman notes that as wealth inequality increases, it is becoming more difficult to measure, because of the development of a “large offshore wealth management industry” that makes some forms of wealth, particularly financial portfolios, harder to track.
The problem is revealed in the widely varying estimates of how much wealth is held offshore. Zucman has calculated that 8 percent of the world’s individual wealth—the equivalent of 10 percent of global gross domestic product or $5.6 trillion—was held offshore on the eve of the global financial crisis in 2007. He cites other analyses that put the figure much higher. According to one study, the global rich held around $12 trillion of the wealth in tax havens in 2007, with another putting the figure at between $21 and $32 trillion.
This means that the existing studies on wealth concentration, which Zucman and others have carried out using self-reported survey and tax return data, are inadequate to grasp its real extent.
“Because the wealthy have access to many opportunities for tax avoidance and tax evasion— and because the available evidence suggests that the tax planning industry has grown since the 1980s as it became globalized—traditional data sources may underestimate inequality,” Zucman states.
Zucman is well aware of the political consequences of the rise in social inequality that he and others have documented. He notes that “for the rich, wealth begets power” and wealth concentration “may help explain the lack of redistributive responses to the rise of inequality observed since the 1980s.”
Zucman’s latest findings will no doubt be used by Democratic presidential hopefuls such as Elizabeth Warren and the newly-elected Democratic Socialists of America Congress member Alexandria Ocasio-Cortez as they seek to give the Democratic Party a “left” face by calling for increased taxes on the wealthy.
But the data produced by Zucman and others refute the assertion that social inequality can or will be rectified by legislative changes. This is because the concentration of wealth—though aided and abetted by successive administrations, both Democrat and Republican—in the final analysis is rooted in vast changes in the very structure of American and global capitalism, arising from its deepening historical crisis.
In other words, it is the outcome of a process of capital accumulation, based on financialisation, that has institutionalised the siphoning of wealth up the income scale.
This cannot be overcome through appeals to the financial oligarchy to change course but only by a frontal assault against its rule, that is, the development of a mass struggle for socialism by the American and international working class. The conditions for this fight are emerging as a result of the resurgence of the class struggle being driven forward by the consequences of deepening social inequality. The aim of Warren, Ocasio-Cortez et al, is try to divert this movement and bring it under the wing of the Democratic Party.


America’s Thanksgivings… Yeah, right!

22 November 2018
In an effort to give a livelier and more in-depth picture of modern life, American novelists such as John Dos Passos—The 42nd Parallel (1930), 1919 (1932) and The Big Money (1936)—introduced “newsreel” sections including headlines, advertisements and popular songs. We hope the following selections will provide some sense of American reality on Thanksgiving Day 2018.
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— “There aren’t many downsides to America’s humming economy.  (Wall Street Journal)
 “On his days off from his $7.50-an-hour job as a cook at the Chicken Hut restaurant in Riverdale, Ga. [Georgia] , Laugudria Screven Jr., 23, travels more than 25 miles across Atlanta to sell plasma. By offering up his arm to a technician’s needle twice a week at $50 a shot, he scrapes together enough to pay his $360 rent.
“Yet donating plasma takes a toll on Screven’s body, leaving him drowsy and weak. And even with the extra income, he says he sometimes can’t afford to eat more than once a day. Often he comes home to a refrigerator that contains little more than mustard, ketchup and peanut butter.
“‘I sell my blood to pay my bills,’ he said, rubbing his arm as he waited for a bus in East Point, Ga. ‘It’s kind of messed up. If I were paid a fair wage, I wouldn’t have to go through this.’” (Los Angeles Times)
— “Set on 40 acres in Newport, Rhode Island, Castle Hill Inn, a Relais & Ch√Ęteaux property, provides guests with a classic New England Thanksgiving. Chef Lou Rossi—an alum of NYC’s three-Michelin-starred Per Se—showcases the local harvest with appetizers like Native littleneck clams, Matunuck oysters and chilled white shrimp, plus herb roasted Helger’s Farm turkey with sage gravy and cranberry sauce, and a selection of pies, pastries and tarts. The hotel also features a spa, the Retreat at Castle Hill by Farmaesthetics, and has a selection of romantic and rustic rooms and cottages available by the beach, overlooking the harbor, and on its namesake hill. [A room in the Superior Beach House is $1,091.45 a night including taxes and fees.] (Town & Country)
 “Hundreds of people in need lined Bleecker Street in downtown Utica[New York] to receive a free Thanksgiving day meal to make with their families. … This year roughly 700 meals were donated, an increase of about 200 from last year. In Utica 1 in 3 people are living in poverty, according to DataUSA.” (WKTV )
 “Despite a relatively good economy, local food pantries are seeing a double-digit increase in the number of hungry residents. Des Moines [Iowa] pantries normally expect about a 3.5 percent increase each month, compared to the previous year. But for the last six months, that increase has more than tripled in the metro area, said Rev. Sarai Schnucker Rice, executive director of the Des Moines Area Religious Council, which oversees the network of 14 local pantries.” (Des Moines Register)
 “Though major cities, such as Dayton [Ohio], are often thought of as having the most households facing hardship, several of the Gem City’s suburbs actually rival it. Thousands of families around the Miami Valley are not necessarily in poverty but are still struggling to get by financially, according to the United Way report.” (Dayton Daily News)
 “Three dynastic wealth families—the Waltons, the Kochs, and the Mars—have seen their wealth increase nearly 6,000 percent since 1982. Meanwhile, median household wealth over the same period went down by 3 percent. …
“The median family in the United States owns just over $80,000 in household wealth. The richest person in the United States (and the world), Jeff Bezos, has accumulated a fortune nearly 2 million times that amount. The Bezos fortune expanded by $78.5 billion just in the last year to $160 billion. Even at the recently increased wage of $15/hour, a full-time Amazon worker would need to toil for 2.5 million years to generate this much money.” (Institute for Policy Studies)
 “Gone are lucrative manufacturing positions [in Indianapolis, Indiana]that could elevate a family into the middle class, even without higher education. Those jobs were in city neighborhoods. They offered salaries high enough to pay for homes, send kids to college, and build up savings accounts. And there were tons of them. At their peaks, the General Motors stamping plant employed 5,600 people, Western Electric had 8,000 workers, and RCA had 8,200.
“But today, scattered brownfields—some with crumbling buildings, some vacant lots—are the only remnants of those once-bustling factories. …
“Stefanie Bell and Steven Pedrazoli—and their 8-year-old son, Chance—are living that new reality. Both parents have regularly worked, but the family is homeless. They’ve been living since April at Dayspring Center at 1537 Central Ave.
“Bell, 37, a server, has uncertain wages because she relies on tips and a $2.13 hourly wage that barely covers taxes. During some shifts, the money at Primanti Bros. restaurant downtown is good. During others, factoring in $3.50 for a round-trip IndyGo bus fare, it’s barely worth showing up. The night before meeting with IBJ, Bell made just $30 in tips, despite working 5 p.m. to close.” (Indianapolis Business Journal)
 “There are a lot of things in life you might expect to cost $150,000—just probably not a Thanksgiving dinner. And yet, that’s exactly what Old Homestead, a New York City steakhouse, is offering this year with what it bills as the most expensive Thanksgiving dinner in history, topping the record set by the $76,000 dinner the restaurant offered last year.
“This year’s dinner, which at a total price of $150,000 is nearly three times more than the average U.S. household income, comes complete with all of the world’s finest ingredients, as well as keys to a 2018 Maserati Levante nestled inside a $135-per-pound free-range, organic turkey sprinkled with gold flakes.” (Yahoo Finance)
 “Near where he slept on a Salinas [California] sidewalk Monday night, David Rodriguez, 39, regularly gets meals at Dorothy’s Kitchen in Salinas’ Chinatown. He has not gone to the nonprofit’s Thanksgiving festivity before, but he plans on going for the first time Thursday.
“Born and raised in the Salinas Valley, Rodriguez grew up going to his grandmother’s for Thanksgiving. Homeless since 2012, Rodriguez said he considers many others in Chinatown—a neighborhood often synonymous with poverty—like his family. The opportunity to share his childhood tradition with his new family would mean a lot to him, he said.”(The Californian)
 “The 8th Annual Readers’ Choice Survey from Business Jet Travelerprovides an interesting look into why people fly privately, what they want in their private jets, where they are going, who they fly with, their favorite aircraft and more. … First some good news. If flying privately and planning to fly privately are signs of a strong economy, readers are quite optimistic. While 45% of respondents said they flew about the same amount as the previous year, 22% said they flew more and 8% said they flew much more, compared to 14% who flew a bit less and 12% who flew much less. Looking ahead, 44% of the magazine’s readers said they will fly about the same during the next 12 months, 34% said they will fly a bit more and 11% will fly much more, compared to just 11% who predict they will fly less.” (Forbes)
 “Last August, Destini Johnson practically danced out of jail, after landing there for two months on drug charges. She bubbled with excitement about her new freedom and returning home to her parents in Muncie, Ind. She even talked about plans to find a job.
“Eight months later, Johnson, 27, lay in a coma, silent except for the beeping of machines. She looked small and pale, buried in a tangle of hospital bedsheets and tubes, after suffering a dozen or so strokes as a result of her latest opioid overdose.
“Her mother, Katiena Johnson, kept vigil at the intensive care unit at Ball Memorial Hospital in Muncie every day, fretting not only about whether her daughter would live, or how much brain damage she’d suffered, but also how to pay for the myriad costs resulting from the latest harrowing chapter of Destini’s opioid addiction. Katiena Johnson says her daughter is regaining consciousness and is out of the ICU.” (NPR)
 “We are especially reminded on Thanksgiving of how the virtue of gratitude enables us to recognize, even in adverse situations, the love of God in every person, every creature, and throughout nature. Let us be mindful of the reasons we are grateful for our lives, for those around us, and for our communities. We also commit to treating all with charity and mutual respect, spreading the spirit of Thanksgiving throughout our country and across the world.” (Donald J. Trump’s Presidential Proclamation on Thanksgiving Day,November 20, 2018)
 “MAKE AMERICA GREAT AGAIN! AMERICA FIRST! …
“There are a lot of CRIMINALS in the [immigrant] Caravan. We will stop them. Catch and Detain! Judicial Activism, by people who know nothing about security and the safety of our citizens, is putting our country in great danger. Not good!” (Donald J. Trump’s tweets, November 21)
 “Some vehicles made it out in time the day the Camp Fire [in northern California] ignited. Others became grenades after being hit by flaming embers. The worst of it may have happened in a town called Paradise, approximate population 26,000. ‘I was driving down Neal Road, and the houses by the horse stables were already on fire—the side of the road was on fire as we were driving through,’ said David Cuen, a Paradise resident who I met at a tent encampment of Camp Fire survivors in a Walmart parking lot in Chico. Neal Road is one of only three roads from Paradise with access to Highway 99. It was one of the few ways out: ‘I look in my rear-view mirror, count back 10 cars, and the 10th or 15th car, it blew up. The flames had overwhelmed all the cars by it. And the cops were making people get in cars that had room. So, you’re talking four to five people in each car.’ Cuen spent the week after escaping the fire sharing a tent with his wife and her family.” (Slate)
* * * * *
Vast popular hardship and suffering, on the one hand, and almost indescribable wealth and social indifference, on the other. Two parties of the corporate oligarchy, dedicated to war and political reaction. The impossible economic and political conditions must produce sooner rather than later the greatest social upheavals in American history.

 


"A series of recent polls in the US and Europe have shown a sharp growth of popular disgust with capitalism and support for socialism. In May of 2017, in a survey conducted by the Union of European Broadcasters of people aged 18 to 35, more than half said they would participate in a “large-scale uprising.” Nine out of 10 agreed with the statement, “Banks and money rule the world.”



"The ruling class was particularly terrified by the teachers’ 

walkouts earlier this year because the biggest strikes were 

organized by rank-and-file educators in a rebellion against

the unions, reflecting the weakening grip of the pro-corporate 

organizations that have suppressed the class struggle for 

decades."

“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.”

"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."

"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."

White House report on socialism

The specter of Marx haunts the American ruling class

6 November 2018
Last month, the Council of Economic Advisers, an agency of the Trump White House, released an extraordinary report titled “The Opportunity Costs of Socialism.” The report begins with the statement: “Coincident with the 200th anniversary of Karl Marx’s birth, socialism is making a comeback in American political discourse. Detailed policy proposals from self-declared socialists are gaining support in Congress and among much of the younger electorate.”
The very fact that the US government officially acknowledges a growth of popular 
support for socialism, particularly among the nation’s youth, testifies to vast changes taking place in the political consciousness of the working class and the terror this is striking within the ruling elite. America is, after all, a country where anti-communism was for the greater part of a century a state-sponsored secular religion. No ruling class has so ruthlessly sought to exclude socialist politics 
from political discourse as the American ruling class.

The 70-page document is itself an inane right-wing screed. It seeks to discredit socialism by identifying it with capitalist countries such as Venezuela that have expanded state ownership of parts of the economy while protecting private ownership of the banks, and, with the post-2008 collapse of oil and other commodity prices, increasingly attacked the living standards of the working class.
It identifies socialism with proposals for mild social reform such as “Medicare for all,” raised and increasingly abandoned by a section of the Democratic Party. It cites Milton Friedman and Margaret Thatcher to promote the virtues of “economic freedom,” i.e., the unrestrained operation of the capitalist market, and to denounce all social reforms, business regulations, tax increases or anything else that impinges on the oligarchy’s self-enrichment.
The report’s arguments and themes find expression in the fascistic campaign speeches of Donald Trump, who routinely and absurdly attacks the Democrats as socialists and accuses them of seeking to turn America into another “socialist” Venezuela.
What has prompted this effort to blackguard socialism?
A series of recent polls in the US and Europe have shown a sharp growth of popular disgust with capitalism and support for socialism. In May of 2017, in a survey conducted by the Union of European Broadcasters of people aged 18 to 35, more than half said they would participate in a “large-scale uprising.” Nine out of 10 agreed with the statement, “Banks and money rule the world.”
Last November, a poll conducted by YouGov showed that 51 percent of Americans between the ages of 21 and 29 would prefer to live in a socialist or communist country than in a capitalist country.
In August of this year, a Gallup poll found that for the first time 
since the organization began tracking the figure, fewer than half 
of Americans aged 18–29 had a positive view of capitalism, while
more than half had a positive view of socialism. The percentage of young people viewing capitalism positively fell from 68 percent in 2010 to 45 percent this year, a 23-percentage point drop in just eight years.

This surge in interest in socialism is bound up with a resurgence of class struggle in the US and internationally. In the United States, the number of major strikes so far this year, 21, is triple the number in 2017. The ruling class was particularly terrified by the teachers’ walkouts earlier this year because the biggest strikes were organized by rank-and-file educators in a rebellion against the unions, reflecting the weakening grip of the pro-corporate organizations that have suppressed the class struggle for decades.
The growth of the class struggle is an objective process that is driven by the global crisis of capitalism, which finds its most acute social and political expression in the center of world capitalism—the United States. It is the class struggle that provides the key to the fight for genuine socialism.
Masses of workers and youth are being driven into struggle and politically radicalized by decades of uninterrupted war and the staggering growth of social inequality. This process has accelerated during the 10 years since the Wall Street crash of 2008. The Obama years saw the greatest transfer of wealth from the bottom to the top in history, the escalation of the wars begun under Bush and their spread to Libya, Syria and Yemen, and the intensification of mass surveillance, attacks on immigrants and other police state measures.
This paved the way for the elevation of Trump, the personification of the criminality and backwardness of the ruling oligarchy.
Under conditions where the typical CEO in the US now makes in a single day almost as much as the average worker makes in an entire year, and the net worth of the 400 wealthiest Americans has doubled over the past decade, the working class is looking for a radical alternative to the status quo. As the Socialist Equality Party wrote in its program eight years ago, “The Breakdown of Capitalism and the Fight for Socialism in the United States”:
The change in objective conditions, however, will lead American workers to change their minds. The reality of capitalism will provide workers with many reasons to fight for a fundamental and revolutionary change in the economic organization of society.
The response of the ruling class is two-fold. First, the abandonment of bourgeois democratic forms of rule and the turn toward dictatorship. The run-up to the midterm elections has revealed the advanced stage of these preparations, with Trump’s fascistic attacks on immigrants, deployment of troops to the border, threats to gun down unarmed men, women and children seeking asylum, and his pledge to overturn the 14th Amendment establishing birthright citizenship.
That this has evoked no serious opposition from the Democrats and the media makes clear that the entire ruling class is united around a turn to authoritarianism. Indeed, the Democrats are spearheading the drive to censor the internet in order to silence left-wing and socialist opposition.
The second response is to promote phony socialists such as Bernie Sanders, the Democratic Socialists of America (DSA) and other pseudo-left organizations in order to confuse the working class and channel its opposition back behind the Democratic Party.
In 2018, with Sanders totally integrated into the Democratic Party leadership, this role has been largely delegated to the DSA, which functions as an arm of the Democrats. Two DSA members, Alexandria Ocasio-Cortez in New York and Rashida Tlaib in Detroit, are likely to win seats in the House of Representatives as candidates of the Democratic Party.
The closer they come to taking office, the more they seek to distance themselves from their supposed socialist affiliation. Ocasio-Cortez, for example, joined Sanders in eulogizing the recently deceased war-monger John McCain, refused to answer when asked if she opposed the US wars in the Middle East, and dropped her campaign call for the abolition of Immigration and Customs Enforcement (ICE).

OBAMA: SERVANT OF THE 1%


Richest one percent controls nearly half of global wealth


The richest one percent of the world’s population now controls 48.2 percent of global wealth, up from 46 percent last year.


 

Record high income in 2017 for top one percent of wage earners in US

In 2017, the top one percent of US wage earners received their highest paychecks ever, according to a report by the Economic Policy Institute (EPI).
Based on newly released data from the Social Security Administration, the EPI shows that the top one percent of the population saw their paychecks increase by 3.7 percent in 2017—a rate nearly quadruple the bottom 90 percent of the population. The growth was driven by the top 0.1 percent, which includes many CEOs and corporate executives, whose pay increased eight percent and averaged $2,757,000 last year.
The EPI report is only the latest exposure of the gaping inequality between the vast majority of the population and the modern-day aristocracy that rules over them.
The EPI shows that the bottom 90 percent of wage earners have increased their pay by 22.2 percent between 1979 and 2017. Today, this bottom 90 percent makes an average of just $36,182 a year, which is eaten up by the cost of housing and the growing burden of education, health care, and retirement.
Meanwhile, the top one percent has increased its wages by 157 percent during this same period, a rate seven times faster than the other group. This top segment makes an average of $718,766 a year. Those in-between, the 90th to 99th percentile, have increased their wages by 57.4 percent. They now make an average of $152,476 a year—more than four times the bottom 90 percent.
Graph from the Economic Policy Institute
Decades of decaying capitalism have led to this accelerating divide. While the rich accumulate wealth with no restriction, workers’ wages and benefits have been under increasing attack. In 1979, 90 percent of the population took in 70 percent of the nation’s income. But, by 2017, that fell to only 61 percent.
Even more, while the bottom 90 percent of the population may take in 61 percent of the wages, large sections of the workforce today barely pull in any income at all. For example, Social Security Administration data found that the bottom 54 percent of wage earners in the United States, 89.5 million people, make an average of just $15,100 a year. This 54 percent of the population earns only 17 percent of all wages paid in America.
However unequal, these wage inequalities still do not fully present the divide between rich and poor. The ultra-wealthy derive their wealth not primarily from wages, but from assets and equities—principally from the stock market. While the bottom 90 percent of the population made 61 percent of the wages in 2017, they owned even less, just 27 percent of the wealth (according to the World Inequality Report 2018 by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman).
The massive increase in the value of the stock market, which only a small segment of the population participates in, means that the top 10 percent of the population controls 73 percent of all wealth in the United States. Just three men—Jeff Bezos, Warren Buffet and Bill Gates—had more wealth than the bottom half of America combined last year.
Wages are so low in the United States that roughly half of the population falls deeper into debt every year. A Reuters report from July found that the pretax net income (that is, income minus expense) of the bottom 40 percent of the population was an average of negative $11,660. Even the middle quintile of the population, the 40th to 60th percentile, breaks even with an average of only $2,836 a year.
As the Social Security Administration numbers show, 67.4 percent of the population made less than the average wage, $48,250 a year in 2017, a sum that is inadequate to support a family in many cities—especially, with high housing costs, health care, education, and retirement factored in.
For the ruling class, though, workers’ wages are already too much. The volatility of the stock market and the deep fear that the current bull market will collapse has made politicians and businessmen anxious of any sign of wage increases.
In August, wages in the US rose just 0.2 percent above the inflation rate, the highest in nine years. Though the increase was tiny, it was enough to encourage the Federal Reserve to increase the interest rate past two percent for the first time since 2008. Raising interest rates helps to depress workers’ wages by lowering borrowing and spending. As the Financial Times noted, stopping wage growth was “central” to the Federal Reserve’s move.
Further analysis of the Social Security Administration data shows that in 2017, 147,754 people reported wages of 1 million dollars or more—roughly, the top 0.05 percent. Their combined total income of $372 billion could pay for the US federal education budget five times over.
These wages, however large, still pale in comparison to the money the ultra-rich acquire from the stock market. For example, share buybacks and dividend payments, a way of funneling money to shareholders, will eclipse $1 trillion this year.
Whatever the immediate source, the wealth of the rich derives from the great mass of people who do the actual work. Across the United States and around the world, workers, young people, and students have entered into struggle this year over pay, education, health care, immigration, war and democratic rights. This growing movement of the working class must set as its aim confiscating the wealth and power of this tiny parasitic oligarchy. Society’s wealth must be democratically controlled by those who produce it.




THE STAGGERING ECONOMIC INEQUALITY UNDER OBAMA'S ADMINISTRATION SERVING THE BILLIONAIRE CLASS.

THE ENTIRE REASON BEHIND AMNESTY IS TO KEEP WAGES DEPRESSED AND PASS ALONG THE REAL COST OF "CHEAP" MEXICAN LABOR TO THE AMERICAN MIDDLE CLASS.

AND IT'S WORKING!


SEN. BERNIE SANDERS

“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

YOU THOUGHT OBAMA INVITED OBAMANOMICS and started the assault on the American middle-class?
NOPE!

“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.”



Clinton Foundation Put On Watch List Of Suspicious ‘Charities’






OBAMA: SERVANT OF THE 1%


Richest one percent controls nearly half of global wealth


The richest one percent of the world’s population now controls 48.2 percent of global wealth, up from 46 percent last year.



The report found that the growth of global inequality has accelerated sharply since the 2008 financial crisis, as the values of financial assets have soared while wages have stagnated and declined.

Millionaires projected to own 46 percent of global private wealth by 2019

By Gabriel Black
18 June 2015
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.”


DICK MORRIS:

On America’s First Family of Crime….. NO! Not the Bushes again!

Clinton global hucksterism – Selling out America like they sold out the Lincoln Bedroom.



HILLARY CLINTON: CRONY CLASS’  “Hope and Change” huckster’s successor!

“I serve Obama’s cronies first, illegals second and together we will loot the American middle-class to double our figures. It’s called BAILOUTS! Evita Peron Clinton



At this point, Clinton is the choice of most multimillionaires to be the next occupant of the White House. A recent CNBC poll of 750 millionaires found 53 percent support for Clinton in a contest with Republican Jeb Bush, 14 points better than Obama’s showing in the 2012 election with the same group.


Sen. Bernie Sanders – America’s answer to Wall Street’s looting, the war on the American middle-class and jobs for legals!



“At this point, Clinton is the choice of most multimillionaires to be the next occupant of the White House. A recent CNBC poll of 750 millionaires found 53 percent support for Clinton in a contest with Republican Jeb Bush, 14 points better than Obama’s showing in the 2012 election with the same group.”

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.




PATRICK BUCHANAN: OBAMA’S ASSAULT  ON AMERICA BEGINS AT OUR BORDERS


WHO REALLY PAYS FOR THE CRIMES OF OBAMA’S CRONY DONORS???
LAST WEEK BARACK OBAMA CELEBRATED FIVE YEARS OF THE LOOTING BY HIS WALL STREET BANKSTERS… now it’s back to cutting social programs to pay for all that rape by the 1% he represents. The following week it will be back to the AMNESTY HOAX to legalize Mexico’s looting of America and make it legal that Mexicans get our jobs first… they already do!
As in previous budget crises under the Obama administration, the events are being stage-managed by the two corporate-controlled parties to give the illusion of partisan gridlock and confrontation over principles—in this case, whether to go forward with the implementation of the Obama health care program—while behind the scenes all factions within the ruling elite agree that massive cuts must be carried through in basic federal social programs.

OBAMA’S CRONY CAPITALISM – A NATION RULED BY CRIMINAL WALL STREET BANKSTERS AND OBAMA DONORS

GET THIS BOOK
Culture of Corruption: Obama and His Team of Tax Cheats, Crooks, and Cronies

by Michelle Malkin
In her shocking new book,  Malkin digs deep into the records of President Obama's staff, revealing corrupt dealings, questionable pasts, and abuses of power throughout his administration.

PATRICK BUCHANAN 
After Obama has completely destroyed the American economy, handed millions of jobs to illegals and billions of dollars in welfare to illegals…. BUT WHAT COMES NEXT?


OBAMANOMICS: IS IT WORKING???

Millionaires projected to own 46 percent of global private wealth by 2019

By Gabriel Black
18 June 2015
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.





POLL: MOST INCOMPETENT AND DISHONEST PRESIDENT SINCE…. Well, isn’t Obama merely Bush’s THIRD and FOURTH TERMS??




OBAMA’S CRONY CAPITALISM

A NATION RULED BY CRIMINAL WALL STREET BANKSTERS AND OBAMA DONORS



PATRICK BUCHANAN

After Obama has completely destroyed the American economy, handed millions of jobs to illegals and billions of dollars in welfare to illegals…. BUT WHAT COMES NEXT?





OBAMANOMICS: IS IT WORKING???

Millionaires projected to own 46 percent of global private wealth by 2019

By Gabriel Black
18 June 2015
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.”


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." EVEN AS JEB BUSH, HILLARY CLINTON and BERNIE SANDERS PREACH AMNESTY! AMNESTY! AMNESTY!
"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 US economy

Federal Reserve documents stagnant state of US economy

By Barry Grey
21 July 2015
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.


A press blackout on news top FBI lawyer James Baker wanted Hillary Clinton prosecuted




The news is out that then-FBI director James Comey did indeed have some credible prosecutors for Hillary Clinton's mishandling of classified documents during her stint as secretary of state, passing around some of the U.S. government's most secret documents on an illegal private account attached to a server in some guy's bathroom.
"No reasonable prosecutor" would take the case, Comey intoned, who then let the former secretary of state and then-presidential candidate off the hook.
Actually, there was one, at least one, and he was sitting right next to Comey: none other than FBI general counsel James Baker, who admitted in congressional testimony that he did think Clinton's dishonest act merited prosecution.
According to Fox News's Catherine Herridge:
The FBI's top lawyer in 2016 thought Hillary Clinton and her team should have immediately realized they were mishandling "highly classified" information based on the obviously sensitive nature of the emails' contents sent through her private server.  And he believed she should have been prosecuted until "pretty late" in the investigation, according to a transcript of his closed-door testimony before congressional committees last October.
Former FBI general counsel James Baker said high-level officials at the bureau were "arguing about" whether to bring charges against Clinton, "I think, up until the end" — and he initially thought Clinton's behavior was "alarming" and "appalling."
Pursuant to the "statutes that we were considering at the time," Baker told lawmakers, it was "the nature and scope of the classified information that, to me, initially, when I looked at it, I thought these folks should know that this stuff is classified, that it was alarming what they were talking about, especially some of the most highly classified stuff.”
Fox News has confirmed portions of the congressional transcript of Baker's remarks.  Baker's testimony was considered credible by those in the room.
Up until now, Comey's "narrative" was that Clinton was "extremely careless" (not even "grossly negligent," which is actionable) and the book was closed on the matter, as Democrats brushed the whole thing off, while hackers and Russians and Chinese and terrorists got to dig into the goodies.
Clinton was supposed to be charged with mishandling classified documents, and she wasn't. 
Only three news sources are reporting this bombshell (I checked Google News, Yahoo! News, and DuckDuckGo): John Solomon of The Hill, Catherine Herridge of Fox News, and Sara Carter, all respectable heavyweights in investigative reporting, and their reports should easily merit news pickups.  But the nets are nowhere, the New York Times doesn't think such a revision to its "narrative" is fit to print, and the Washington Post is going to let that one die in darkness.
Shouldn't a story about favoritism be newsworthy?
The implication now is that laws are for little guys, like that Navy sailor who was prosecuted for carelessly taking a "hi, Mom"–type photo onboard a classified ship, but not for Madame Big.  One wonders why we have these laws on the books at all anymore with such stunning double standards.  Secrets aren't secrets if Hillary Clinton is running things.  And the FBI's Comey was clearly rooting (alongside his sidekick, Deputy Director Andrew McCabe) for a Hillary victory in 2016, something he was stunned didn't happen after he put his thumb on the scale for her.
And now the whole decision is being exposed as a blatant double standard in law enforcement, except that the press has gone AWOL.  It was just that funny-strange craziness in Comey's decision that might have gotten voters to elect Donald Trump president, rather than the Left's claim that Clinton's shadow of prosecution did her in.  The new report about Baker's testimony blows that "narrative" to smithereens.
Somehow, that's not news.  Perhaps that's because a "narrative" has been set, and the press is all in for following it.  That staff revolt you hear about over at CNN regarding the hiring of a former Trump staffer certainly would support it. 
The press's job is not that hard.  The nets don't have to even go digging when there are people like Solomon, Herridge, and Carter doing it for them.  They just need to tell the truth, wherever that may lead.  They aren't doing it.  They'd rather the whole problem just go away, and by their ignoring this gargantuan shift to their already set narrative, they're derelict of duty.

VIDEO:
THE FRAUDULENT CLINTON FOUNDATION EXPOSED.
PAY-TO-PLAY FROM THE FIRST DAY!


Is it a signal that she's back in the game because she's selling her president-ability to the world's global billionaire crowd and laying the groundwork for more funds?  There are all kinds of ways for foreign billionaires to get money to the U.S. without consequences, after all.  What's more, it's pretty much the biggest base of support she has, which is at least one reason why she lost the 2016 election.
*
“The couple parlayed lives supposedly spent in “public service”
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political
machine that might well be dubbed “Clinton, Inc.” This consists essentially of
a seedy money-laundering operation to ensure big business support for the
Clintons’ political ambitions as well as their personal fortunes.
*
The basic components of the operation are lavishly paid speeches to Wall Street and Fortune 500 audiences, corporate campaign contributions, and donations to the ostensibly philanthropic Clinton Foundation.”
*
"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy - AMERICANTHINKER.com
*
GEORGE S OROS AND THE CLINTON GLOBALIST AGENDA FOR BANKSTERS AND WIDEOPEN BORDERS
*
NEW YORK — Demand Justice, an organization founded by former members of Hillary Clinton’s 2016 presidential campaign and associated with a “social welfare organization” financed by billionaire activist George S oros, is raising money for an eventual court fight against what the group describes as President Trump’s proposed “racist, unnecessary wall.”
*
*
“Obama would declare himself president for life with S oros really running the show, as he did for the entire Obama presidency.”
*
“Hillary was always small potatoes, a placeholder as it were. Her health was always suspect. And do you think the plotters would have let a doofus like Tim Kaine take office in the event that Hillary became disabled?”


THE PHONY CLINTON FOUNDATION CHARITY slush fund
*
*

“There is no controlling Bill Clinton. He does whatever he wants and runs up incredible expenses with foundation funds,” states a separate interview memo attached to the submission.

“Bill Clinton mixes and matches his personal business with that of the foundation. Many people within the foundation have tried to caution him about this but he does not listen, and there really is no talking to him,” the memo added.

Bush Center to White House: Open Borders for Business Hiring



US-Mexico Open Border Wall
Sandy Huffaker/Getty Images
181
7:43

The George W. Bush Presidential Center is helping to develop a White House immigration policy, as it is urging the government to help CEOs and investors hire an unlimited number of foreigners in place of white-collar and blue-collar Americans.

Employers should be allowed to freely hire foreign graduates for middle-class jobs, said the center’s recommendations. “Congress and the Administration should eliminate, or at least increase, the visa cap” for foreign college graduates, says the center’srecommendations on immigration.
“Industries like agriculture, construction, landscaping, and hospitality rely on low-skilled foreign workers to fill vacant jobs … A higher cap [on the inflow of workers] tied to labor market demand would better serve the needs of American businesses,” said the recommendations, which would eliminate any future wage-raising labor shortages.
If Americans’ wages and salaries begin to rise, the imported labor will rush in to end the labor shortage, the recommendations suggest. The extra imported labor would spread through the economy when rising “wage levels signal where the most pressing labor needs exist,” the recommendations say.
In sharp contrast, voters’ wages rose by three percent nationwide during 2018 because of Trump’s “Hire American” low-immigration policy. Wages rose by 4.6 percent for people who switched jobs and by 5.2 percent in Minnesota where migrants have increased the labor force by only ten percent. Wages barely climbed during 2018 in states that have a large percentage of imported labor.
The institute’s wage-cutting, open border recommendations are important because the institute has been invited by White House officials to help develop a pro-business immigration policy that would effectively end President Donald Trump’s Inauguration Day promise of “Hire American.”
The White House process was sketched out by the McClatchy news service:
“What we want to do is kind of figure out what are the things that everyone agrees on,” the official said. “Where are the areas where there is disagreement and then what we can do is take all that to the president and then let him and the vice president, let them make decisions on what our policy will be.”
According to meeting agendas obtained by McClatchy, those invited to sessions with Kushner come from some of Trump’s core constituencies in the worlds of religion, law enforcement, agriculture and business. They include the U.S. Chamber of Commerce, Heritage Foundation, Association of Builders and Contractors, Faith and Freedom Coalition, Council on National Policy, George W. Bush Center and Select Milk Producers.
One participant described [Trump son-in-law Jared] Kushner as listening a lot and encouraging others to speak. He is less interested in the finer details of immigration policy and focused on reaching a consensus, that participant said. Two people involved said Kushner asks people to talk about what they want instead of what they oppose.
The Bush center’s recommendations do not mention the concerns of Trump’s 2016 voters, such as stagnant wages, the rising student debt owed by American graduates, the rising real estate costs and healthcare bills which Americans must pay, nor the decade-long freeze on Americans’ salaries since legal immigration was tripled by President Geoge H.W. Bush’s 1990 immigration expansion bill.
In fact, the Bush center says immigration policy should be designed to grow the economy first, not salaries or wages. The center’s focus on growth via the importation of consumers, renters, and workers would help investors, real estate owners, employers, and immigrants and undermine Americans who are seeking to raise their wages and to build a better and wealthier society for themselves and their children. The recommendations say:
The objective of immigration policy should be to affirm America as the land of opportunity — where people of any background can work hard, develop ideas, and benefit from the fruits of their labor.
The focus on immigrants echoes the progressives’ claim that America is a “land of immigrants,” not a land of Americans.
The Bush report also suggests that immigrants are more valuable than Americans and their children. “America’s greatest advantage has always been its ability to attract diverse people from all corners of the globe and bring them together to build the American dream,” the report says, ignoring Americans’ world-changing history of solidarity, trust, cooperation, inventiveness, and hard work.
The center also calls for an amnesty of illegals, while noting that deportation of illegals will reduce the labor supply. “Removing all unauthorized immigrants would cause the labor force to shrink by around 4.5 percent and could lead to reductions of GDP up to $4.7 trillion over ten years.”
Any reduction of the labor supply would force investors and employers to raise Americans’ wages if they wanted to keep their existing employees or hire new employees. “A pathway to citizenship is the most reasonable solution,” says the Bush center.
The center’s business-first, society-second, approach is made clear at the center’s web page. “At the George W. Bush Institute, we believe immigration policy should be used as a tool for economic growth and prosperity.”
The center declined to answer questions from Breitbart News.
The center’s open border for business plan echoes the repeated efforts by President George W. Bush to enact a pro-investor “any willing worker” law which would allow employers to hire anyone from around the world. Bush’s “any willing worker” plan was blocked in 2001, so he backed amnesties in Congress in 2006 and 2007 which created the open-ended “Probationary Z Visa.” The Z visa plan offered work permits to all migrants who reached the United States within one year — and gave border officials just 24 hours to prove the migrants’ documents were fakes. The ambitious proposal quickly failed.
In 2013, Bush also backed the huge “Gang of Eight” amnesty bill which sought to flood the middle-class labor market by offering two ways to provide green cards to an unlimited number of foreign graduates. The amnesty bill so skewed the labor market towards investors that the Congressional Budget Office reported, “the rate of return on capital would be higher [than on labor] under the legislation than under current law throughout the next two decades.”
In 1990, Bush’s father, President George H.W. Bush, signed an immigration deal that roughly tripled the legal immigration rate, shifted wealth from wage earners to investors, and spiked stock market values.
The 2006 and 2007 amnesty plans were so unpopular among voters that Bush’s poll ratings sank from roughly 45 percent at the start of 2006 down to roughly 35 percent at the end of 2007, and then-Sen. Barack Obama used his opposition to build his 2008 outsider campaign. After the 2013 “Gang of Eight” amnesty was approved by the Senate, the Senate Democrats lost nine seats, so allowing Trump to have a Senate majority in 2017.
Business groups and Democrats tout skewed polls that prod Americans to declare support for migrants and for the claim that the United States is an economy-expanding “Nation of Immigrants,” not a nation of Americans.
The alternative “priority or fairness” polls — as well as the 2016 election — show that voters put a much higher priority on helping their families, neighbors, and fellow nationals get decent jobs in a globalized, high-immigration economy.
The federal policy of using legal and illegal migration to boost economic growth shifts enormous wealth from young employees towards older investors by flooding the market with cheap white-collar and blue-collar foreign labor.
That annual inflow of roughly one million legal immigrants — as well as the population of two million visa workers and eight million working illegal immigrants — spikes profits and Wall Street values by shrinking salaries for 150 million blue-collar and white-collar employees, especially the wages earned by the four million young Americans who join the labor force each year.
The federal government’s cheap labor policy 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 millions of marginalized Americans, including many who are now struggling with fentanyl addictions.
Immigration also steers investment and wealth away from towns in Heartland states because coastal investors can more easily hire and supervise the large immigrant populations who prefer to live in coastal cities. In turn, that coastal investment flow drives up coastal real estate prices and pushes poor Americans, including Latinos and blacks, out of prosperous cities such as Berkeley and Oakland.