Feeds:
Posts
Comments

Archive for the ‘"John Hively"’ Category

98604121_USA_03_233179c

The governors of the Federal Reserve Bank voted to keep interest rates at historic lows in their September 17, 2015 meeting. The bank has not raised interest rates in nearly a decade. Lucky us, or maybe unlucky us.

Chairwoman Janet Yellen cited a number of reasons why the bank decided to keep rates low. She mentioned, for example, the weakness of manufacturing in China.

However, she didn’t mention that nearly 50 percent of US manufacturing is done in China, which, quite naturally, indicates a slowing down of US outsourced manufacturing, which certainly impacts the US. Like a good politician, she also did not mention that the evil US trade deficit is fueled by US manufacturers exporting jobs overseas, like Microsoft, Apple, Nike and Adidas. These and hundreds of other companies manufacture their products in China and elsewhere, and export their stuff to the US.

a-group-of-economists-wrote-an-open-letter-in-favor-of-janet-yellen-and-the-list-of-names-is-stacked

This is precisely and the only reason why the US has a trade deficit. The US trade deficit, in other words, is with US job exporters, not with China, Pakistan, Mexico or elsewhere.

Anyway, keeping interest rates low was a good thing for the US economy. Typically, the Fed waits to raise interest rates until just after the US economy begins to slide into recession.

That process begins when US corporations see a slowdown in their earnings growth, in the aggregate. These businesses begin to lay people off, which jacks up their profits. Perhaps the folks running the Fed take this as some sort of sacred signal that everything is all right. However, laying enough people off throughout the economy ignites recessions in the process of jacking up those profits, because the demand for goods and services slackens, jobs and profits decline, and a recession begins even while corporate earnings expand.

This is why I mentioned the slowdown of Chinese manufacturing, which in all likelihood, represents something of a slowdown of US manufacturing abroad. Profit growth has been shaky the last two years, though still growing in fits and spurts with sudden quarterly declines followed by rapid growth.

In other words, the US and world economies are still quite weak, especially since the rich have stolen 95 percent of all income growth in the US since 2009, an historic high by a wide margin. This has meant sluggish US and world economic growth since the more money the 1 percent steal in the US and elsewhere, the weaker the demand for goods and services by the 99 percent.

Yellen has the brains to understand all of this. This is likely why the Fed has kept interest rates at historic lows for years. To maintain their standards of living, the 99 percent had to keep borrowing because they haven’t gotten a raise in 35 years on average and in real terms. Raise interest rates and the demand for goods and services begins to die.

Raising interest rates will likely be the straw that sends the world economy into the monstrous fangs of the biggest economic crisis since the Great Depression. This crisis may already be in its early less visible stages.

Not a single world leader has learned the lesson from the last Recession. The current US economic expansion is fueled by the same artificially created housing and stock market bubbles as the last recession. Wall Street executives are calling the economic shots in the White House, on Capital Hill and the US Supreme Court. That’s why nobody who could do anything did squat about the corrupt forces that brought about last recession, and now the bill is coming due.

The last recession was the worst since the Great Depression. The next one, as I have pointed out in my book, The Rigged Game: Corporate America and a People Betrayed, will be far more hideous.

The Fed has literally no tools to fight off this coming Great Depression, but it will print trillions of dollars to save billionaires and others from their foolish investment decisions. See breakdown-of-the-26-trillion-the-federal-reserve-handed-out-to-save-rich-incompetent-investors-but-who-purchase-political-power–JohnHively.wordpress.com

The federal government will be forced to expand the deficit, and instead of having 48 million people permanently on food stamps, the US will have 60 to 100 million, unless the madness of redistributing income from the 99 to the 1 percent via job exporting trade treaties, unsustainable and illogical immigration policies (both legal and illegal, HB1 visas), and privatization scams.

Much of this can be reversed simply by amending income redistribution schemes known as international trade agreements, limiting immigration by restricting the flow of people moving into the USA at least until wages begin to rise, enforcing current immigration laws, and putting a halt and reversing many privatization follies.

All three of these policies have stolen jobs from American citizens, while enriching the politically and financially affluent in the process, all at the expense of people who produce goods and services.

Of course, that is precisely what the corrupt US government (all three branches), and both corrupt major political parties, have been driven to do by the money unleashed in the political markets since and because of the Reagan tax cuts for the rich.

The ultimate end game of Reaganomics is coming to its ugly conclusion.

Advertisements

Read Full Post »

Ready for Bernie Sanders 2016 announces "BETONBERNIE.COM" for contribution pledges to support a presidential bid from Vermont Senator Bernie Sanders, a Brooklyn native, who was active in the Civil Rights Movement, has devoted 35 years as a politician for the people, and has been a member of Congress since 1991. (PRNewsFoto/Cyber Media Services)

Vice President Joe Biden is toying with the idea of entering the race to become the presidential nominee of the Democratic party for 2016. The question is why? The answer may be Bernie Sanders.

Sanders is developing a following as he builds a monster of a grassroots campaign that all the money in the world will not be able to match. Some polls have shown him charging ahead of Hillary Clinton, Wall Street’s choice to be the Democratic candidate, and a person who has deep pockets because of her ties to Wall Street.

A Quinnipiac poll released on Thursday showed Sanders edging Clinton in Iowa, even with Biden in the race. On Wednesday, an NBC/Marist poll showed Sanders wiping out Clinton in New Hampshire, with Biden also included in the polls.

Biden hasn’t entered the race yet, but the polls list him as a candidate. Why?
The answer might be that Sanders would be wiping out Hillary by wider margins, and Wall Street doesn’t want that.

Biden has long been touted as a man of the people. Yet his record suggests he is a man of the people along the lines of Wall Street Senator Ron Wyden, who always votes liberal on social issues while always voting to economically rape and pillage the 99 percent on behalf of Wall Street and the 0.01 percent. In other words, Biden is Wall Street’s wolf in sheep’s clothing.

The idea here is that Biden’s largely false reputation as a man of the people is being used to attract Democrats who otherwise would vote for Sanders. Sanders, instead of beating Clinton by 1 percent in Iowa, and 11 in New Hampshire, would likely be winning by 15 to 20 percent in both states against Wall Street’s favorite female candidate.

Wall Street’s dirty tactics against Sanders haven’t even begun yet, but Biden’s toying with his candidacy suggests those tactics are right around the corner, the more that Sanders gains strength against Clinton.

That’s the way the Democratic leadership works on behalf of Wall Street. Vote for Biden, the stealth candidate. Don’t buy it. Vote Sanders.

Read Full Post »

Obam-Train-NRD-600

From Arthur Stamolis of Citizen’s Fair Trade Campaign:

The U.S. Senate is expected to vote again on Fast Track legislation for the job-killing Trans-Pacific Partnership (TPP) on Tuesday morning, and several Democratic Senators still hasn’t committed to vote NO.

Please write your Senators now, urging them to vote against “cloture” for Fast Track, and please join us at one of the critical rallies below taking place this Monday.

Last month, too many Senators voted wrong on Fast Track. This time, however, the Senate is being asked to vote on an even worse Fast Track package — one that, in addition to allowing the TPP to be rushed through Congress, could also weaken human trafficking measures; eliminate simple currency measures and other enforcement provisions; and even prohibit the consideration of climate solutions in future trade negotiations. Yep, we’re going to discover on Tuesday which senators support these things.

Fast Track is bad for the economy, public health and the environment in our communities and around the world. On the eve of the new vote, join us in urging your Senator to vote NO!

Here’s the current list of rallies:

CALIFORNIA
Rally to Stop Fast Track (Sen. Feinstein)
Monday, June 22 * 1:00pm
Senator Feinstein’s Fresno Office
2500 Tulare St, Ste 4290
Fresno, CA
Contact: Stan Santos, ssantos@cwa9408.org

Rally to Stop Fast Track (Sen. Feinstein)
Monday, June 22 * 12:00 noon
Senator Feinstein’s Los Angeles Office
11111 Santa Monica Blvd, Suite 915
Los Angeles, CA
Contact: Adrian Acosta, aacosta@cwa-union.org

Rally to Stop Fast Track (Sen. Feinstein)
Monday, June 22 * 12:00 noon
Senator Feinstein’s San Diego Office
880 Front Street, Suite 3296
San Diego, CA 92101
Contact: Nicole “Kali” Gochmanosky, kali@citizenstrade.org

Rally to Stop Fast Track (Sen. Feinstein)
Monday, June 22 * 12:00 noon
Senator Feinstein’s San Francisco Office
One Post Street, Suite 2450
San Francisco, CA
Contact: Xiomara Castro, xiomara@citizenstrade.org

DELAWARE
Rally to Stop Fast Track (Sen. Carper)
Monday, June 22 * 3:00pm
Senator Tom Carper’s Wilmington Office
310 North Walnut Street
Wilmington, DE
Contact: Scott Reynolds, sreynold@aflcio.org

Rally to Stop Fast Track (Sen. Coons)
Monday, June 22nd * 2:00pm
Senator Chris Coons’ Wilmington Office
American International Building
1105 N. Market Street
Wilmington, DE
Contact: Sam Bernhardt, sbernhardt@fwwatch.org

FLORIDA
Rally to Stop Fast Track (Sen. Nelson)
Monday, June 22 * 12:00 noon
Senator Bill Nelson’s Miami-Dade Office
2555 Ponce De Leon Blvd
Coral Gables, Florida
Contact: Deborah Dion, dion.deborah@gmail.com

NEW HAMPSHIRE
Rally to Stop Fast Track (Sen. Shaheen)
Monday, June 22 * 11:30am
Senator Jeanne Shaheen’s Manchester Office
1589 Elm Street, Ste 3
Machester, NH
Contact: Daniel Justice, Djustice@aflcio.org

OREGON
Rally to Stop Fast Track (Sen. Wyden)
Monday, June 22 * 5:45pm
Senator Wyden’s Portland Office
911 NE 11th Ave
Portland, OR
Contact: Elizabeth Swager, elizabeth@citizenstrade.org

WASHINGTON
Rally to Stop Fast Track (Sens. Murray; Cantwell)
Monday, June 22 * 5:30pm
Henry M Jackson Federal Building
915 2nd Ave
Seattle, WA
Contact: Gillian Locascio, gillian@washingtonfairtrade.org

Can’t make any of these rallies? You can still make a difference by forwarding this message to friends and family, and by emailing your Senators now.

The coming vote will be extremely close, but, together, we can win it. Please make sure your Senators hear from you again before Tuesday.

Many thanks,

Arthur Stamoulis, Executive Director
CITIZENS TRADE CAMPAIGN

Online: citizenstrade.org
Twitter: @citizenstrade

Read Full Post »

Watch the video above. In it US Senator Bernie Sanders strikes back at the ignorant and incompetent Federal Reserve Chairman Alan Greenspan. Greenspan was called “the wizard” because he advocated policies that redistributed income from the 99 to the 1 percent, such as tax cuts for the rich, jobs destroying trade treaties that redistributed income from working folks to the rich, privatization scams, and a ton more. Greenspan was wrong on all accounts, which he admits at the end of the video above.

Bernie Sanders was one of the few, and maybe the only, senator who dared challenge Greenspan and his beliefs. Listening to Sanders makes one realize why he should be president of the United States. He would represent all the people, not just the rich folks, like Obama, Wyden, Blumenauer, Boehner, McConnell, Orrin Hatch and so many others do today.

Read Full Post »

Fast-Track-NRD-600

 

From Arthur Stamolis of Citizen’s Trade Campaign

Hi everyone:

Congratulations on yesterday’s impressive victory! In case you missed it, the House voted to block Fast Track from moving forward — a huge win for Main Street over Wall Street, and a testament to your years of strategic organizing. Thank you!

Unfortunately, the offshorers, the polluters, the lobbyists and the profiteers haven’t given up quite yet, so we’ve got more work to do — and we need to get to back to work fast.

Here’s how Friday’s win went down: the House separated the Fast Track bill passed by the Senate into two parts. First was a vote on an inadequately-funded and exclusionary Trade Adjustment Assistance (TAA) program for displaced workers. Then was a vote on the Fast Track process itself. Both parts needed to pass for the bill to pass. You can see how Reps voted on TAA  here and how they voted on the Fast Track process here. Bottom line: when TAA was voted down, the entire Fast Track bill was sunk.

After the vote, Speaker Boehner called for a re-vote on TAA. That vote is supposed to happen within two legislative days, so it’ll either be on Monday or Tuesday (although the Speaker may be able to find ways to extend that if he wants). Voting on Monday starts at noon Eastern, so that’s the earliest the re-vote could occur.

It’s critical that we are profusely THANKING those who voted against TAA and Fast Track and urging them to do so again. We also need to keep respectfully trying with those who voted for TAA, but against Fast Track — urging them to vote against TAA next week. (No-holds-barred with those politicians who voted for both.)

Unfortunately, there is still some confusion about the proposed TAA program even among our allies, and you’d better believe the White House, Republican leadership and others are working overtime this weekend to increase that confusion.

Here’s what you need to know about TAA. Normally, we’re all for it. It’s an important lifeline that provides job retraining benefits to people whose careers are shipped abroad as a result of bad U.S. trade policy. But nobody in their right mind would ever argue that a job retraining program is a smart trade-off for rubber-stamping massive trade agreements like the Trans-Pacific Partnership (TPP) that will offshore jobs, drive down wages and more. That’s what a vote for TAA next week is. It’s a vote for Fast Tracking the TPP. The current TAA proposal is a cynical ploy that needs to be stopped.

As if that weren’t bad enough, the TAA program being offered isn’t even a strong one. It excludes public sector workers whose jobs are offshored and it is significantly under-funded. The $700 million in Medicare cuts made to pay for it may be partially addressed, assuming the Senate goes along, but even if that is fixed, another $250 million in cuts to a Medicare kidney dialysis program and a whole lot of political liability are still in there.

The good news is that Republican leadership and the White House face a heavy lift to win on TAA next week, as we destroyed the measure in a 126 – 302 vote on Friday. That said, the President wants this BAD. Speaker Boehner wants this BAD. We need to keep pushing so that we win that vote, and that we win whatever sorry plan Team TPP comes up with next to try to squeeze Fast Track through this month.

They know the clock is ticking on the TPP, and they’re going to keep trying — at least for a while. We are winning. Here’s what we need to keep it going:

* If you represent an organization, please make sure to call any Reps who voted against Fast Track and the TAA this weekend and early on Monday to thank them and urge them to do so again.

* If you haven’t yet, please send a personal email now thanking or spanking your representative for their votes on Friday.

* Take a moment to look up your your Reps Twitter and Facebook accounts, and spend a couple moments on social media today urging them to vote against Fast Track and the cynical TAA ploy next week.

Be ready for any rapid-response action requests that come early next week. Again, we could see new voting as soon as Monday.

Together, we’re going to keeping riding this wave of success. Thank you again for everything you’ve done to get us this far.

In solidarity,

Arthur Stamoulis, Executive Director
CITIZENS TRADE CAMPAIGN

Read Full Post »

free-trade-at-last-cartoon

Thank you grassroots progressives, grassroots tea party members, labor unions, church groups, environmental organizations, and so many more for the fight of the century you put up.

Today, in the US House of Representatives, Democrats and some Republicans responded to twitters, emails, letters and phone calls from the 99 percent, and these things defeated Wall Street Investors, large corporations, and their President Obama, by rejecting Trade Adjustment Assistance (TAA). US House Democrats refused to give President Obama Fast Track Authority that will allow for easy passage of the Trans Pacific Partnership without first giving workers trade adjustment assistance (TAA).

The president offered TAA, which offers government assistance for workers whose jobs are shipped overseas because of trade treaties, but he intended to fund it with money from Medicare, and it would still be underfunded, leaving millions of workers who will lose their jobs with TPP in poverty and without hope.

Rep. Louise Slaughter, a top House Democrat from New York, said she would not vote for TAA because she doesn’t want “this trade bill (TPP) to go through.”

“TAA has always been an absolute admission to me that there is going to be lots of lost jobs,” Slaughter said.

The TPP is Obama’s gift to Wall Street, but many Democrats see it as the end of their party since the base is so riled up against it.

We know from leaked documents the TPP will:

* TPP will give incentives for US corporations to export millions of US jobs. The Federal Reserve estimates that 28 million US jobs were exported between 1990 and 2010. Wyden wants to increase this number. Jobs are the biggest US export product. Wyden likes this.

* TPP will increase US income and wealth inequality. The 1 percent have already taken 95 percent of all income growth in the United States since 2009. Currently, the 1 percent are stealing 36+ percent of all income produced in the USA, compared to only 8 percent in 1980. International trade scams and other federal legislation have brought inequality about. For example, when the above jobs were exported, the difference between the old higher US wages and the new lower wages will go straight into the pockets of the 1 percent via higher corporate profits, rising dividends and surging share prices. Wyden is a principle architect of this inequality.

* Those lost jobs will no longer be paying the taxes for our infrastructure, K-12 education, higher education (tuition and fees will go up), social safety nets, schools, fire, police, public transportation, social security taxes, but those lost jobs will push the stock markets higher.

* TPP will effectively eliminate your voting rights on local and state issues since it will unconstitutionally grant investors of the 0.01 percent special privileges to challenge labeling and health and safety local laws and regulations of the 99 percent, which most people call voter suppression, but in this case it should be called voter elimination.

* TPP will eliminate millions of jobs in Latin America, which will drive millions of more people illegally into the United States and depress wages here. See how-the-trans-pacific-partnership-will-destroy-american-jobs-by-destroying-us-exports–Johnhively.wordpress.com .

* TPP will raise pharmaceutical prices by extending patents forcing the 99 percent to pay more for big pharma’s products.

* TPP will override Wall Street regulations, as if the mostly ineffective US regulations inhibit Wall Street profits and illegal activities.

Stunningly, Democrats such as Wall Street Senator Ron Wyden support doing all of the above to the American people. And these things are only a few things we know about. Why are these negotiations so secret? US Senator Elizabeth Warren says it best below.

As for Fast Track Authority, if passed by congress, it will mean there be limited debate in congress when the TPP comes up for a vote. Fast track will also prohibit any amendments to the TPP and eliminate any means to filibuster it in the senate. In other words, fast track rigs the political and economic game against the 99 percent and for the 1 percent.

Read Full Post »

Last year, the citizens of Jackson County Oregon voted to ban the planting of GMO crops because the pollens from those poisons tended to fly with the wind and contaminate organic crops. Monsanto, using GMO farmers, challenged the right of voters in court to secure their livelihoods with the ordinance banning the GMO poisons.

10394038_961822503850235_3206394674475829284_n

Last Friday, Federal Magistrate Judge Mark Clarke dismissed the legal challenge brought by commercial farmers who use Monsanto’s genetically modified alfalfa seeds. The GMO farmers claimed the anti-GMO ordinance violated their right to farm.

However Judge Clarke concluded that exactly the opposite was the case. He held that the county’s no-GMO seed ordinance could take effect this week, citing earlier state legislation that protected commercial farms, in this case organic farmers, from harm from other commercial enterprises, such as the commercial farms whose GMO-laced alfalfa pollen gets carried by the wind and can’t be stopped from tainting organic crops.

“Farmers have always been able to bring claims against other farmers for practices that cause actionable damage to their commercial agriculture products,” Clarke wrote. “The Ordinance, by contrast, is enacted pursuant to section 30.935 [of state law], and serves to prevent such damage before it happens.”

After Jackson County banned the use of GMO seeds, Monsanto and other GMO poison manufacturers successfully lobbied the state legislature of Oregon to ban the banning of GMO seed planting on the county level, but excluded the already voted on Jackson County ordinance. Now, however, with this ruling, the state ban on the other counties appears to violate the equal protection clause of the US Constitution, and it will likely be rendered moot, as another county in Oregon voted to ban the planting of GMO seeds, and is currently pursuing its claim to do so in court.

A spokesperson for the Coalition of Organic Farmers in Jackson County said via email, “We just learned this afternoon that we have WON the Monsanto-backed legal challenge attempting to overturn our Jackson County ban on genetically engineered crops. The court upheld the Ordinance on the grounds that it was intended to protect against damage to commercial agricultural products, which is allowed under the Right to Farm Act, and because it was expressly allowed by the Oregon Legislature.

“While this is an incredible victory for family farmers standing up to the GMO giants, we do know there is a real chance Monsanto and their ilk could appeal this decision so the battle is not really over yet,” the email said. “Also, the Plaintiffs’ claims that the GMO ban constitutes a constitutional “taking” will now have to be litigated in the second phase of the case.”

Expect Monsanto to encourage and fund local GMO farmers to appeal Clarke’s decision to a federal appeals court, meaning this fight is not finished.

Read Full Post »

Older Posts »