On July 18, thousands of people marched in Detroit to stop water shutoffs by a private company that manages the city’s water system.
The city of Detroit went bankrupt many months ago, thanks to the federal (and state government of Michigan) enacting legislation championed by Wall Street Senator Ron Wyden and many other class warriors of the 1 percent ensconced in congress.
The result has been a massive shipment of jobs overseas via free trade treaties. When jobs are shipped overseas, and Wyden is not the dumb dumb he pretends to be on this issue, the difference between the old higher US wages and the new lower overseas wages is redistributed to the 1 percent via higher corporate profits, rising dividends and surging share prices. It also redistributes the tax dollars those shipped jobs once supported in the USA straight into the pockets of the rich, leaving schools, fire, police, road maintenance and other government services crippled, which is why Detroit went bankrupt. Thank you Wall Street Senator Wyden!
These legislative policies have left the people of Detroit poor, and let’s face it, Detroit was once one of the great manufacturing cities of the world until Wyden and others in congress shipped the jobs overseas. However, Wyden’s actions have generated massive income and wealth inequality via his income redistribution actions.
That’s the ultimate reason why many people in Detroit can’t pay their water bills, why the city went bankrupt, and why the Dow Jones and other financial markets are surging. It’s a rigged economic and political game. The problem with the people in Detroit is that all, or almost all, the democracy in the state and federal governments have already been purchased in the political markets.
For more on this story, click the link below.
Posted in "Dow Jones", corruption, Economics, Economics, recession, education, free trade, goldman sachs, income redistribution, Politics, Recessions, the Rigged Game, trade, trade deficit, war, wealth redistribution | Tagged corporate welfare, Detroit, distribution, exporting jobs, Free trade, Income, redistribution, Ron Wyden, shipping jobs, shutoffs, Trade, wages, Wall Street, water | Leave a Comment »
There is a straight forward relationship between tax cuts for the rich and growing income and wealth inequality. The conduit for financial inequality is the political markets. Tax cuts for the rich allowed them to corrupt the federal and state governments to the core. The rich used their ill gotten gains from Reagan’s tax cuts to purchase legislation in the political markets that redistribute income and wealth from people like you and me and “Aunt Millie” to the CEO’s and shareholders of corporations, namely the 1 percent. This legislation included free trade treaties that shipped jobs overseas, reducing labor costs while increasing profits. The legislation included privatization scams, deregulation schemes, and actions toward war, such as in Iraq, and Afghanistan, both of which are extremely profitable to the one percent. The rich also purchased the No Child Left Behind Act, which benefited only the major publishing corporations of educational books and tests, such as McGraw-Hil, and the McGraws have been neighbors and best friends of the Bush’s since the Great Depression. Yes, that’s precisely how corrupt President George W. Bush was. There are a ton more legislation that has been purchased by the one percent to redistribute income and wealth to themselves from the 99 percent, but I don’t have that much space. That’s why the economic and political markets are a rigged game.
The press has been a tool of the 1 percent, used to mislead and lie us into wars, deregulation, free trade agreements, privatization, anti-labor union tirades, as well as poisoning ourselves with GMOs by claiming they’re harmless, regardless of what all independent studies show. Yes, they lie to us a lot.
All of this corruption has sent the Dow Jones higher, as well as the NASDAQ and other financial markets. All of which benefits the 1 percent.
Posted in "Dow Jones", corruption, Economics, education, energy, free trade, genetically modified organism (GMO), George W. Bush, goldman sachs, health care, income redistribution, inflation, labor unions, Market manipulation, Politics, taxes, the Rigged Game, trade, trade deficit, war, wealth redistribution | Tagged 1 percent, Afganistan, Aunt Millie, bill moyers, corruption, deregulation, Dow Jones Industrial, free trade agreements, George W Bush, Iraq, NASDAQ, political markets, privatization, Rich, Tax cuts, war | Leave a Comment »
A friend named Sloan purchased a vacant lot in the city of Portland, Oregon for $120,000 in 2010. This year he was offered $210,000 for the same land. Okay, the housing bubble has been resurrected under President Obama, and just like President George W. Bush and President Bill Clinton and their housing bubble, our current president has no intention of doing a thing about it, even as Bush’s bubble wrecked the economy.
Why is Obama not doing anything about the bubble? Because Wall Street loves it, and whatever Wall Street loves, Obama seems to it love it just as much.
Wall Street investment banks such as Goldman Sachs purchase bonds backed by home mortgages to the tune of trillions of dollars. There is a lot of money in this. A rise in housing prices means a rise in bond prices. When the housing bubble peaks, it will only take an 8 percent drop in home prices for those bonds to become worthless, according to Michael Lewis in his book The Big Short.
Then the government will rescue those who are too big to fail, not that they are too big to fail in a business sense. Rather, they will be too big to fail in a political campaign contribution sense. And that’s why the current housing bubble is allowed to continue.
Posted in "Dow Jones", corruption, Economics, Uncategorized | Tagged George W Bush, Goldman Sachs, Housing bubble, Michael Lewis, mortgage backed bonds, Wall Street | Leave a Comment »
Each year, the federal government spends billions to purchase goods made right here in the United States. The 80-year old Buy American Act requires it.
But the U.S. Trade Representative is negotiating two new secretive trade deals that would reportedly ban the United States from favoring American-made products over our trade partners’ goods.
One of these scams is the Trans Pacific Partnership (TPP), often called “NAFTA on Steroids,” which President Obama wants to smash through both houses of congress, but only after the congressional elections in November. The TPP is a massive income redistribution scheme, and the income will flow from the 99 to the 1 percent. In other words, Obama is planning to increase income inequality with the treaty, which is already at dangerously bad levels, currently in the USA worse than any other industrialized nation, and worse than many third world nations, as well. The TPP is a nation destroyer.
The House of Representatives took measures last month to pull any funding used to negotiate away our preference to “Buy American.” Now the Senate will consider doing the same.
Urge your U.S. Senators to defund any efforts to undermine “Buy American” preferences in international trade deals.
Reports indicate that the massive, twelve-nation Trans-Pacific Partnership (TPP) trade deal would require all companies from trade partner countries be given equal access to U.S. government procurement contracts. By signing the trade deal, the U.S. would agree to waive “Buy American” and “Buy Local” programs.
Buying American-made products means that our tax dollars stay here, lifting our economy, and supporting American workers and businesses.
Send a message to President Obama and the Senate, especially Wall Street Senators such as Ron Wyden, Mitch McConnell and Orrin Hatch— don’t let U.S. negotiators trade away “Buy American” laws. Let’s declare economic independence from secret trade deals written by and for multinational corporations.
Posted in "Dow Jones", corruption, Economics, free trade, income redistribution, Market manipulation, Uncategorized | Tagged Buy American, income distribution, income redistribution, Mitch McConnell, Orrin Hatch, Ron Wyden, Trans-Pacific Partnership | Leave a Comment »
The war against the middle class officially began during the reign of President Ronald Reagan, and also because of his policies. I’m suggesting that he was a part of this war, but his actions clearly allowed the war to commence.
His trade policies, deregulation scams, and tax cuts for the rich gave the 1 percent the money and power to purchase legislation that bleeds income and wealth from the 99 percent and redistributes it to the 1 percent. This gave the 1 percent the power to purchase the Telecommunications Act of 1996, which President Bill Clinton signed into law. Nowadays, the monopolized information we receive because of this act is often filled with misinformation, including the claim of no health hazards from GMOs, and the public school testing mania, both of which are nothing more than income redistribution scams.
Reaganomics has led us to the economic disaster in which we are living, and virtually every other economic ills that beset our nation.
Posted in "Dow Jones", corruption, Economics, the Rigged Game, Uncategorized | Tagged Bill Clinton, Class warfare, education, gmos, income distribution, income redistribution, Reaganomics, Ronald Reagan, Tax cuts, testing | Leave a Comment »