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Archive for the ‘wealth redistribution’ Category

This is an insightful story and you can access it by clicking on the link below, but it doesn’t grasp the big picture about how student loans over the last thirty-four years, beginning with the regime of President Ronald Reagan, became an instrument to redistribute income from working people to the 1 percent.

Wall Street geeks of the 1 percent discovered that if Wall Street investment corporations, such as Goldman Sachs, purchased outstanding student loans they could then issue bonds against the loans, and sell the bonds to rich investors.

Wall Street investment companies steal billions of dollars in the variety of transactions that make up the path of turning student loans into student-loan-backed bonds. Much of this money lines the pockets and election campaigns of federal politicians.

This is precisely why President Reagan, Republicans and Democrats in congress, decided to reduce federal financial aid grants to college students. It was more profitable for Wall Street and the 1 percent to send kids into student loan purgatory than to provide needy students with grants.

Student loan payments go in part to rich investors. That’s precisely why the entire Republican Party, many Democrats, and the Obama white house doubled the interest on  student loans from 3.4 to 6.8 percent last year, at a time when interest rates were at near historic lows. This made the loans more attractive to investors of the 1 percent because the return on investment doubled. This is one way legislation is used to rig the economic and political game on behalf of the 1 percent, and against the 99 percent.

But it also means the middle class is paying more for the loans, or rather, more of their income is being redistributed into the wallets of the rich, so that the affluent can become richer. In other words, student loans became an instrument to redistribute income from the 99 to the 1 percent. Thank you President Reagan.

That’s precisely why the US senate voted against a bill sponsored by Senator Elizabeth Warren to provide relief to student loan debtors by lowering interest rates. Doing so would have undermined the value of the student loan backed bonds by lowering return on investment. The 1 percent did not want this to occur.

According to the Federal Reserve, student loan debt has doubled to $1.3 trillion since 2007.

http://www.businessinsider.com/an-accountant-explains-why-45-of-her-income-goes-to-student-loans-2014-5Yahoo! News

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President Ronald Reagan’s tax cuts for the rich opened up a flood of money into politics aimed primarily to redistribute income from the 99 to the 1 percent, such as privatization and deregulation scams and free trade treaties that shipped jobs overseas and redistributed the difference between the old higher US wages and the new lower wages into the pockets of the 1 percent via higher corporate profits, surging dividends and booming share prices. This, in turn, gave the 1 percent even more money to corrupt government at all levels and turn the levers of power against the 99 percent.

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Senator Elizabeth Warren’s “Bank on Students Emergency Loan Refinancing Act” bill is up for a vote before the Senate this week. Thirty-five senators endorse the bill. The Wall Street Republican Party will, no doubt, vote as a block against the middle class on this issue. Wall Street and investors of the 1 percent hold billions of dollars of bonds backed by student loans. Lowering student loan interest rates will reduce the value of the bonds, as well as the return on interest paid to the bondholders. In addition, lowering student loan rates on existing loans will also quash the desire to purchase student loan backed bonds, so the best thing for Wall Street and the rich is to artificially keep student loan interest rates higher than would otherwise be the case. Let’s be clear to one thing. Some Democrats will likely vote against the bill. It would be a shock if Wall Street Senator Ron Wyden voted for it.

Check out Senator Warren’s senate floor speech on the Act below.

(more…)

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What a difference a year makes! How is the United States going to create jobs over there, like the president says above?

The Trans Pacific Partnership (TPP), a treaty with 11 other Pacific rim nations, will make it easier to export jobs from the USA to those nations, especially extremely low wage, anti-labor union, Vietnam. That’s how President Obama plans to help them create jobs.

The difference between the higher US wages and the future extremely low Vietnamese wages will go into the already massively fat wallets of the 1 percent via higher corporate profits, soaring share prices, and rocketing dividends.

This will make worse the income and wealth inequality that has already been legislatively engineered during the last thirty years, and which has left the US economy tottering.

These economy and middle class destroying treaties have been supported by such generals in the war against the middle class as Wall Street President George W. Bush, Wall Street President Bill Clinton, Wall Street Secretary of State Hilliary Clinton, Wall Street Senators Ron Wyden, Orrin Hatch and Mitch McConnell, and we can’t forget Wall Street Congressman John Boehner.

Likewise, a similar treaty is being negotiated by the US with the European Union, and its low wage nations, such as Spain, Greece, Slovakia and Poland. It’s called the Trans-Atlantic Trade and Investment Partnership (TTIP). Guess where US jobs will be exported to due to this treaty? But that will help those nations create jobs, just like the president says above.

These legislative assaults on the middle class will eviscerate the tax bases around the nation for public goods, such as schools, roads and police.

The real purpose of both treaties is to override US laws, raise prices, export jobs to wherever the cheapest labor is located, and numerous other things, all of which will redistributed income and wealth from the 99 to the 1 percent. These actions will boast stock prices, and boost dividends of the 1 percent.

Rigging the economic and political game against the 99 percent; that’s what these treaties are all about. It also shows how immensely corrupt the US government has become.

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In a powerful jab against rising income and wealth inequality, on Monday, June 9 2014 the Seattle City Council voted unanimously to enact a city-wide minimum wage of $15 per hour. Thank you Occupy Wall Street for riveting the attention of citizens throughout the world to this madness of enriching the wealthy at the expense of everybody else. Inequality destroys economies and economic opportunities by depressing demand, and it corrupts federal and state politicians, such as Wall Street Senators Ron Wyden, Mitch McConnell, and Orrin Hatch.

Has anybody actually seen a prosperous functioning democracy where the rich own 40-60 percent of everything and steal 20-32 percent of a nation’s annual income? Of course not.

Check out the story from the American Prospect by clicking on the link below.

How Seattle’s $15 Minimum Wage Victory Began in New York City’s Zuccotti Park.

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“German dairy farmer Gottfried Glöckner told F. William Engdahl how the Anglo-Swiss GMO and agrochemicals giant Syngenta tried to crush him after he denounced the company’s products as toxic – recruiting the resources of the German state and legal system to destroy his life.”

Excerpt from the interview

“Please describe for us what you began to see after you were feeding your cows a maize-portion of your feed mix only from GMO Syngenta Bt176 maize.

In the year 2000 I experienced the first incidences of infertility, sicknesses and even deaths as well as severe birth defects in newborn calves.”

This same problem is cropping up in frogs, rats and children due to the products of Syngenta and Monsanto and other producers of GMOs.

 

Check out the interview with Glockner by clicking on the link below. Also, the link below that is the story of how Syngenta representatives lied in court and under oath about its own test on the GMOs that killed Glockner’s cows.

http://www.theecologist.org/Interviews/2417952/gottfried_glckner_how_syngenta_destroyed_my_life_for_telling_the_truth_about_gmos.html

http://johnhively.wordpress.com/2013/06/23/gmo-corn-killing-the-cows-whose-milk-we-drink/

 

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Several years ago, studies showed frogs were dying in mass. Plenty of people suspected the cause was global warming. Turns out these folks were wrong. Academic studies showed, however, that atrazine, a herbicide manufactured by GMO maker and notorious liars of Syngenta Corporation, was responsible for the demise of frogs in the United States.

According  to Pesticide Action Network, “Atrazine is good at killing weeds in part because of its stability; it can stick around for up to 100 days in the soil. This also makes it a pollution problem. Once it leaches into groundwater, it can remain there for decades.

Atrazine is installed into seeds and crop plants, like beets, soy and corn, and it prevents  weeds from growing nearby.

Families in the Midwest who get their drinking water from shallow wells are especially vulnerable to Atrazine.

Found in water throughout the Midwest, atrazine shows up in wells in agricultural communities and in pristine lakes and rivers. Drinking water contamination levels typically spike in spring and early summer, as rains flush the freshly applied herbicide. One recent study shows that atrazine also evaporates into the air after application, in a process called volatilization drift. It can then settle back into waterways.

USDA scientists found the herbicide in 94% of the drinking water tested in 2008.”

Scientists not on the payroll of Syngenta and other GMO manufacturers discovered the incidence of human birth defects was greatest during the months of April, May and June, which was when farmers used the greatest amount of atrazine annually.

“Atrazine is an endocrine disruptor. This means that micro-doses can have large, irreversible effects that we are just beginning to understand. New studies link low-level exposure to birth defects, delayed puberty and infertility — all of which are on the rise. Higher cancer risk and environmental toxicity are also of concern.
Birth Defects: Infants concieved during atrazine spray season are more likely to be born with birth defects. Research shows that even low levels of exposure during pregnancy may be problematic; the third trimester appears to be most critical.
Infertility: Documented reproductive harms include male infertility, increased risk of miscarriage, and low infant birth weight.
Cancer: Atrazine may increase risk of breast and prostate cancer. Though some studies have not found a link, the recent President’s Cancer Panel Report calls atrazine a possible carcinogen.
Scientists report that for atrazine, timing of exposure may be more important than exposure levels, and interaction with other pesticides may make health harms more severe.
Evidence of environmental effects is also strong and growing. Recent studies show that atrazine causes genetically male frogs to become anatomically female through a “chemical castration” effect.”

“During EPA’s 2003 review of atrazine, Syngenta representatives held more than 50 closed-door meetings with regulators. In 2011 the company planned a PR campaign to undermine the court that is hearing a case against it in Illinois.”

In addition, Syngenta has a long record for intimidating scientists not on their payroll & the people managing the corporation have pressured policymakers.

“Syngenta has actively attempted to suppress science related to atrazine’s environmental and health problems. Scientists Tyrone Hayes and Paul Wotzka have faced retaliation for speaking publicly about their findings on atrazine.

In October 2009, EPA officially reopened its examination of health and environmental risks of atrazine, in response to new emerging science. PAN and Midwest farmer groups are closely tracking the review to demand a transparent, science-based process this time around.”

However, the officials of the EPA are more concerned with protecting the profits of Syngenta and Monsanto than with protecting the lives of frogs and human beings. This suggests massive corruption in the EPA, as well as massive corruption in the US government.

Professor Tyrone Hayes, of the University of California, Berkeley, was the among the first to discover the relationship between the demise and deformity of frogs and other amphibians and atrazine. See The New Yorker– A Valuable Reputation .

As the academic studies piled up and showed the devastating impacts of GMOs and atrizine, the US corporate press dutifully made the decision to not report the demise of the frogs anymore, as well exposing any of the links between birth defects and atrazine. That’s why one cannot trust the US corporate propaganda machine disguising itself as a news media. The job of the Oregonian newspaper, the Washington Post, ABC News, Fox News and many others are to deceive the 99 percent, and protect the profits of the 1 percent, even at the expense of the health of human babies and the environment.

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The difference between Denmark and the USA is simple. In Denmark, the government is relatively honest; in the USA government is corrupt to the max at nearly all levels.

The Reagan tax cuts gave the rich enough money to spend on buying more and more politicians. Legislators began passing bills in the halls of congress to redistribute income from the 99 to the 1  percent, such as deregulation of energy markets, deregulation of the banking industry, privatization scams, the repeal of Glass-Steagal which allowed investment and commercial banks to merge, free trade treaties, and much more, and all of which redistributed massive amounts of income from the 99 to the 1 percent. The corrupt US corporate press continuously lied to the 99 percent about the effects of these things. Additional tax cuts increased the purchasing power of the 1 percent in the political markets on all levels of government, thereby increasing corruption.

And there is not one morsel of evidence to suggest tax cuts for the rich created a single net job during the last thirty years. However, all the evidence shows these tax cuts were used to cut jobs and wages via the corruption outlined above. In other words, all the evidence shows that tax cuts for the rich destroys jobs and corrupts government.

Also see how the rich maintain their riches via the Federal Reserve and a corrupt US government and a corrupt US corporate press via the link below.

breakdown-of-the-26-trillion-the-federal-reserve-handed-out-to-save-rich-incompetent-investors-but-who-purchase-political-power–JohnHively.wordpress.com

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Last week, the Federal Communications Commission (FCC) voted to advance a proposal that critics call a threat to a free and open Internet. Hundreds of protesters rallied outside the FCC to protest a plan that could allow Internet “fast lanes” by letting companies pay providers for faster access to consumers. The agency will allow 120 days of public comment before issuing final rules.

The Internet is the high speed information highway that ordinary people use to share news and opinions outside of the corporate mainstream media. Ending the way things are with the Internet, which is called Internet freedom, and putting a price on the use of the Internet higher than is the current case, means an end to alternative news and commentary. And let’s face it. That’s precisely what the corporate media and the 1 percent want.

President Barack Obama appointed and swore in all of the commissioners on the FCC. The president has been attempting the end Internet neutrality for the last two years, as if he is a corporate Republican. My ex-wife rightly calls him a Republican to the right of Ronald Reagan on all economic matters.

FCC Chairman Tom Wheeler was nominated and sworn in by Obama. His biography from the FCC website says all you need to know about him,

“Prior to joining the FCC, Chairman Wheeler was Managing Director at Core Capital Partners, a venture capital firm investing in early stage Internet Protocol (IP)-based companies. He served as President and CEO of Shiloh Group, LLC, a strategy development and private investment company specializing in telecommunications services and co-founded SmartBrief, the internet’s largest electronic information service for vertical markets. From 1976 to 1984, Chairman Wheeler was associated with the National Cable Television Association (NCTA), where he was President and CEO from 1979 to 1984. Following NCTA, Chairman Wheeler was CEO of several high tech companies, including the first company to offer high speed delivery of data to home computers and the first digital video satellite service. From 1992 to 2004, Chairman Wheeler served as President and CEO of the Cellular Telecommunications & Internet Association (CTIA).”

A venture capital firm is an investment company. Typically, only the 1 percent has the money to invest. So Wheeler is serving the 1 percent as chairman of the FCC, as well as himself. There’s no telling how much money Wheeler or Core Capital is going to steal from the rest of us through higher prices and less information. Yes, ending net neutrality is an income redistribution scam.

Luckily, the 99 percent have Wall Street Senator Ron Wyden to fight for Internet neutrality. However, if he really fights against this, it’s because of his loyalty to Google and Yahoo! share prices, management and shareholders, and not the 99 percent he’s supposed to represent.

Coincidentally, this type of information is not offered by the corporate news media, and if Wheeler’s proposal goes into effect, it will cost you big bucks to go to the FCC website to get the above information about Wheeler, which, coincidentally, happens to be what Wheeler, Obama, Wall Street, the Republican Party, 80 percent of the Democratic Party (most likely including Wyden since he serves the 1 percent only), the Koch brothers, and the rest of the 1 percent, desire.

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Yesterday, Sen. Elizabeth Warren said, “From what I hear, Wall Street, pharmaceuticals, telecom, big polluters and outsourcers are all salivating at the chance to rig the deal in the upcoming trade talks. So the question is: Why are the trade talks secret? You’ll love this answer. Boy, the things you learn on Capitol Hill. I actually have had supporters of the deal say to me, ‘They have to be secret, because if the American people knew what was actually in them, they would be opposed.'”

It should be pointed out that the Trans Pacific Partnership (TPP), the so-called trade agreement Warren speaks of, is President Barack Obama’s trade deal, and it’s fervently supported by Republican House Leader John Boehner and Senate Finance Committee Chairman Ron Wyden, all of whom, are a tad bit scared to push the rotten deal through congress before the congressional elections in the autumn. The Trans Pacific Partnership is all about massive, oligarchic, government corruption, otherwise, such a deal would never be struck.

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