Archive for March 10th, 2014

In Truthout.org, economist Richard Wolff writes that since the New Deal, president after president rolled back New Deal programs and were supported by conservative groups, major corporations and the rich in doing so. Wolff wanted to know if President Obama did the same thing. So he wrote,

“More importantly, by symbolizing a kind of social arrival/acceptance of African-Americans generally, might he (Obama) neutralize likely popular oppositions to the next steps in rolling back the New Deal? Capitalism’s crisis since 2007 could have been blamed on the conservative coalition and the system itself. The economically worst-victimized – especially African-Americans – might well have revitalized a new labor-radical coalition (like during the New Deal), absorbing the mass energies visible in the Occupy movements.

The new, young, different African-American president deflected, deterred and at least delayed all that. Obama’s proven reliability as outsider president extraordinaire is his administration’s economic significance.

Yet continuing crisis makes ever more Americans shed lingering illusions and hopes for better economic futures. So-called “recovery” affects only a small minority. Most people and many businesses face deteriorating jobs and lives. As the most outside of outsider presidents, Obama presided over the awakening of millions to economic declines they find oppressive and unjust. They are not buying the outsider president strategy any more. The outsider mask has lost further political usefulness for the conservative coalition.”

In other words, so far as I can tell, Wolff concludes that President Obama is wearing the mask of an outsider president in order to continue redistributing income and wealth from the 99 to the 1 percent. This is something Obama has been doing quite well, and it doesn’t take a mental giant to figure it out. All one has to do is look at President Obama’s giant Trans Pacific Partnership, which is a corporate trade treaty, the largest in history, which will jack up the prices of goods and services for the 99 percent, push wages down, potentially limit Internet freedom for the 99 percent, and limit any regulations of Wall Street fiancial transactions. There are plenty of supporters of this in the US House and Senate, such as Wall Street Senator Ron Wyden.

President Obama and Senator Wyden are playing a simple game of rigging the game against the 99 percent on behalf of the 1 percent. That’s what Democrats do nowadays, along with Republicans, such as Wall Street Senators Orrin Hatch and Mitch McConnell, as well as Congressman John Boehner. All of these boys are on the ideological payrolls (at the very least) of the Koch Brothers and Wall Street investment banks such as JP Morgan and Goldman Sachs. These guys are all class warriors, fighting for the 1 percent.

Click on the link below for the complete story.

Is Richard D. Wolfe’s Assessment of the Economic Significance of President Barack Obama Correct?

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