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Archive for the ‘wealth redistribution’ Category

We have been mislead and lied to by the US government and the corporate press for a long time. They’ve lied to us about the health hazards of GMOs, (See http://johnhively.wordpress.com/2014/06/08/why-are-the-frogs-dying-and-why-did-the-story-disappear-from-the-corporate-news-hint-gmos-have-cause-the-demise-of-the-frogs/ .

This type of information you can get from from foreign news outlets, such as the Guardian of the UK. But the American press is corrupt to the core. That’s why it helped to lie us into a war in Iraq, and they’ve lied to us about public education reform for over thirty years.

It’s all because of the need to generate ever increasing profits for the 1 percent, and all at the expense of the 99 percent, either in terms of health, money, or education. In other words, due to a news media cartel, the information we’ve been fed and not fed has been carefully cultivated to reflect a world view that best allows the 1 percent and Wall Street to redistribute our money, our wealth, our tax dollars, our jobs, and our health to the 1 percent.

Blame it on President Bill Clinton. He signed the Telecommunications Act of 1996, which allowed the consolidation of major media outlets so that 5 corporations now successfully collude to determine what we are allowed to see on roughly 90 percent of all media outlets.  That’s right. Five corporations now own 90 percent of all news outlets.

That’s precisely how the massive income and wealth inequality has been covered up, and, in the case of public schools, how we’ve been kept ignorant about how our schools and children have been used as conduits toward enhancing the corporate profits of the testing industry via the testing craze, and how our schools have been become nothing more than laboratories for keeping students focused only on testing, rather than on things more important, such as critical thinking, art, shop, and basic living skills. Rhetoric to the side, this is precisely what education reform is all about.

Most people don’t know that the No Child Left Behind Act was the business plan of McGraw-Hill, and that the McGraws had been long-time friends of the Bush family. And this is precisely why President Bush pushed the act through congress and signed it into law. It was a convenient piece of legislation that redistributed income, tax dollars, and wealth to his personal friends, while leaving our schools wrecked. The corporate press wasn’t going to ever tell you that, thanks to the Telecommunications Act of 1996.

This is called market manipulation via legislation.

Check out the links below for more on this.

They Myth Behind Public School Failure–Yes! Magazine

why-corporations-want-our-public-schools–Yes! Magazine

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I’ve been telling people for the longest of times that markets of supply and demand play no role in the burgeoning inequality as the US government continues to pass legislation that redistributes income from the 99 to the 1 percent. Buying politicians and legislation in the political markets, such as Wall Street’s purchase of Wall Street Senator Ron Wyden, is the classic move in redistributing income from the 99 to the 1 percent. Free trade treaties pave the way for corporate America to ship the jobs of hard working Americans overseas, and the difference between the old higher wages here and the new lower wages there go into the pockets of the super wealthy. That’s why free trade is an income redistribution scam, and is supported 100 percent of the time by Ron Wyden, President Obama, as well as Wall Street Senators Mitch McConnell and Orrin Hatch.

A couple of weeks ago, Nobel Prize Economist wrote the following:

From op-ed of the New York Times

“An insidious trend has developed over this past third of a century. A country that experienced shared growth after World War II began to tear apart, so much so that when the Great Recession hit in late 2007, one could no longer ignore the fissures that had come to define the American economic landscape. How did this “shining city on a hill” become the advanced country with the greatest level of inequality?

One stream of the extraordinary discussion set in motion by Thomas Piketty’s timely, important book, “Capital in the Twenty-First Century,” has settled on the idea that violent extremes of wealth and income are inherent to capitalism. In this scheme, we should view the decades after World War II — a period of rapidly falling inequality — as an aberration.

This is actually a superficial reading of Mr. Piketty’s work, which provides an institutional context for understanding the deepening of inequality over time. Unfortunately, that part of his analysis received somewhat less attention than the more fatalistic-seeming aspects.

Over the past year and a half, The Great Divide, a series in The New York Times for which I have served as moderator, has also presented a wide range of examples that undermine the notion that there are any truly fundamental laws of capitalism. The dynamics of the imperial capitalism of the 19th century needn’t apply in the democracies of the 21st. We don’t need to have this much inequality in America.

Our current brand of capitalism is an ersatz capitalism. For proof of this go back to our response to the Great Recession, where we socialized losses, even as we privatized gains. Perfect competition should drive profits to zero, at least theoretically, but we have monopolies and oligopolies making persistently high profits. C.E.O.s enjoy incomes that are on average 295 times that of the typical worker, a much higher ratio than in the past, without any evidence of a proportionate increase in productivity.

If it is not the inexorable laws of economics that have led to America’s great divide, what is it? The straightforward answer: our policies and our politics. People get tired of hearing about Scandinavian success stories, but the fact of the matter is that Sweden, Finland and Norway have all succeeded in having about as much or faster growth in per capita incomes than the United States and with far greater equality.

So why has America chosen these inequality-enhancing policies? Part of the answer is that as World War II faded into memory, so too did the solidarity it had engendered. As America triumphed in the Cold War, there didn’t seem to be a viable competitor to our economic model. Without this international competition, we no longer had to show that our system could deliver for most of our citizens.

For the rest of the story, click on the link below. One thing Stigletz does not touch on, however, is that the tax cuts for the rich unleashed a tremendous ability to purchase politicians on a level not seen since the 1880’s.

http://opinionator.blogs.nytimes.com/2014/06/27/inequality-is-not-inevitable/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1&

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From the Economic Policy Institute:

“The vast majority of Americans primarily rely on their earnings from work—not investment income, not government support payments—to get by. That’s why we can’t address inequality without addressing wages. And what has been happening to wages is not pretty. The pay of most workers has been stuck for decades even though productivity and earnings at the top are escalating. Between 1979 and 2013, productivity grew eight times faster than median worker pay. Americans are working harder, more productively, and with more education than ever, but are treading water, as an enormous and ever-increasing share of income growth goes to corporate profits and executive pay. Just in the last decade—between 2002 and 2013—inflation-adjusted wages were stagnant or fell for the bottom 70 percent of wage earners. This widespread wage stagnation, which afflicts even the college-educated, hurts economic growth, curtails the aspirations of lower-income families, and constricts middle-class incomes.

The central economic policy issue today is the challenge of generating broad-based wage growth. Broad-based wage growth is the key to addressing income inequality, ensuring social mobility, reducing poverty, boosting middle-class incomes, and enjoying stable economic growth.”

These are brave and accurate economic words from the Economic Policy Institute (EPI), but dealing with these matters is a political problem, which is how income has been redistributed from the 99 to the 1 percent during the last thirty-four years.

It’s also a misinformation challenge as the corporate press dutifully lies to us about how our income and health is being redistributed from the 99 to the 1 percent, but that’s another story.

Free trade treaties are written and approved by congress and the president with an eye toward jacking up the profits reaped by major corporations (which are tools through which the 1 percent redistribute income and wealth from the 99 to the 1 percent), and for shipping jobs overseas.

The primary US export is American jobs. The difference between the old and higher US wages and the new lower overseas wages is redistributed to the 1 percent via higher profits, surging share prices, and mounting dividends. The rich get richer, while the middle class sees a reduction in jobs, pay, tax revenues for schools, fire, police, road maintenance, and more, and all of that “more” is negative, for the 99 percent.

Currently, the Obama regime is negotiating the Trans Pacific Partnership (TPP), the largest income redistribution treaty of all time, and it’s being negotiated with an eye toward exactly that. Obama is being helped by the entire Republican Party, and many Wall Street Democrats such as Senator Ron Wyden, an always loyal and corrupt servant of the 1 percent.

Don’t believe me? Check out the video below.

The point here is the challenge of meeting the needs of the nation, of creating US economic vitality, as EPI pointed out above, is an issue of money in politics because with such obvious economic decline as experienced by most of the 99 percent during the last 34 years, President Obama (along with the help of key Republicans and Democrats in congress) is planning on doing the same old thing in ramming the TPP through congress.

Albert Einstein reportedly said the definition of insanity is “doing the same thing over and over again, and expecting different results.”

Obama and the congress people who support the TPP are not insane, nor are they stupid, they’ve merely been corrupted by big money, such as Wall Street and the Koch Brothers.

And that’s the big challenge facing the 99 percent today, because money in politics is precisely why the government has been redistributing you and your children’s future, as well as your income, and tax dollars to the 1 percent over and over again for thirty-four disastrous years.

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Question: Why is the US Supreme Court called the US Supreme Court?

Answer: Because it is the court where corruption, power and money have reigned supreme over the nation, legal precedence and the US Constitution for the last thirty years. When corporations win so much in the US Corrupt Court compared to thirty years ago, it is a clear signal that corruption has taken hold, since those corporations are the primary weapons of the 1 percent in their war against the middle class.

When wealthy investors purchased in the corrupt political markets the legal right to unionize into corporations, and President Franklin Roosevelt accurately called corporations “organized money,” the combined financial might of those investors have since been used to corrupt institutions, such as the US Supreme Court and the marketplaces of the world, as well as other governments of the world.

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There are plenty of unbiased studies showing GMOs present massive health risks to human beings. In fact, all studies not financed by GMO corporations show health hazards to humans, even some of the GMO company studies have been leaked showing health hazards, such as one by Syngenta. See http://johnhively.wordpress.com/2013/06/23/gmo-corn-killing-the-cows-whose-milk-we-drink/. See also A Valuable Reputation from the New Yorker Magazine, http://www.newyorker.com/reporting/2014/02/10/140210fa_fact_aviv

So then why, when both non-GMO financed studies, as well as studies funded by GMO corporations, show potential health hazards to humans, does the corporate press and the political punditry, such as President Barack Obama, continue to insist that GMOs are harmless to human health? President Obama, ABC and the Oregonian news paper have all lied to us in recent months about this.

The answer may lay in the current mal-distribution of income that has overcome the United States during the last thirty-four years. More and more income is being redistributed via federal legislation from the 99 to the 1 percent. Recent studies show the 1 percent steal from 22 to 34 percent of all the income generated in the United States, compared to 8 percent thirty-four years ago, when the United States economy was far more robust than is the current case, because the 99 percent demanded goods and services they can no longer afford to purchase. During the last few years, the 1 percent have stolen 95 percent of all income growth, mostly via legislation championed by corrupt politicians, such as Wall Street senator’s Ron Wyden, Orrin Hatch and Mitch McConnell. Notice that all Republicans and a large contingent of Democrats support this maldistribution of income and wealth via federal legislation.

As income is being redistributed from the 99 to the 1 percent, the 99 percent have less income to purchase things, such as food.

The use of GMOs in agriculture is done for a simple purpose; it cuts costs, at the expense of human health, making food cheaper than using regular methods of agriculture.

Food companies often tend to conspire among each other to keep prices for the 99 percent rising, a necessary component of keeping corporate share prices growing. Otherwise, rich investors would sell off their shares, causing them to plummet in value, and jeopardizing the livelihoods of the CEO’s of food corporations. GMO’s help to mitigate the problem by increasing profit margins and allowing the executives to keep food price increases lower than would otherwise be  the case.

There is a clear and corrupting link between big money, (as represented by Wall Street, major corporations and the 1 percent) and their abilities to purchase legislation in the political markets benefiting themselves, and at the expense of everybody else.

So it’s politically astute for politicians and the corporate press to lie to us about the health hazards of GMOs, because their use stave’s off food riots, and other politically unstable actions on the part of the 99 percent that would interrupt the continued flow of ill gotten cash and other forms of wealth by the 1 percent.

In other words, to keep the income redistribution from the 99 to the 1 percent scam going, the government and members of the 1 percent would rather slowly poison you with GMO food poison that is banned in over 40 nations.

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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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