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When Donald Trump became US president, he set about to undo three things former President Obama had succeeded in doing. That is because many billionaire Republican donors were opposed to Trump, most notably Charles and David Koch, who are heavily invested in the energy industry. Trump did not want enemies inside his own party, and he had plenty of them when he was first elected.

Quite naturally, the Paris Climate Agreement had to go since it is an attack on the oil industry, which primarily, though not exclusively, supports Republicans. Ending world oil dependency and thereby reversing course on global warming means terminating the industry or greatly reducing it. as well as ending or significantly reducing corporate oil profits, share prices, and dividends. In effect, the Paris Climate Agreement is an attack on the billionaires of the Republican Party. That is precisely why Trump pulled the US out of the accord, regardless of the false excuses that came out of his mouth.

Trump had to get rid of the Iranian nuclear deal since it allowed Iranian oil back on the world market during Obama’s presidency. This placed downward pressure on the profits, dividends and share prices of the fossil fuel corporations because the increased supply put downward pressure on the prices of all sorts of things we pay for, such as oil and gasoline. The best way for Trump to get oil and gasoline prices moving upward again was simply pulling the United States out of the nuclear deal with Iran. Since the USA pulled out, notice the price we pay for gasoline has risen.

By pulling the US out of the nuclear deal using lies and distortions, Trump knowingly and deliberately was redistributing income from the 99 to the 1 percent via higher oil and gasoline prices. But, the billionaires behind the Republican Party were happier with Trump because of it.

Warren Buffett’s Berkshire Hathaway (NYSE: BRK-B) bought Burlington Northern Santa Fe for $26.5 billion back in 2010. It was his biggest acquisition ever. The railroad is the largest transporter of crude oil in the United States. If the Keystone pipeline is completed, it will compete directly with Buffett’s railroad. The pipeline will transport oil from the Canadian Tar Sands to the Gulf of Mexico. The Republican Koch brothers are heavily invested with the Tar Sands.

Koch Industries is a major player in the Canadian oil market. The Washington Post identified the company in April 2014 as the largest foreign leaseholder of acres of Canadian oil sands.

According to EcoWatch in 2018, “A leaked memorandum published by The Intercept and Documented Investigations shows that a Koch Industries’ donors network, known as the Seminar Network, has taken credit for Donald Trump approving the permits for both the Dakota Access and Keystone XL pipelines during the first months of his presidency.” (Click here for the original story.)

Needless to say, Warren Buffett is a big supporter of the Democratic Party and the Koch’s basically control the Republican Party. Buffett’s loss is the Democratic Party’s loss while it is the Koch brothers and Republican Party’s gain.

These political games are being played pitting billionaires against the 99 percent (as well as other billionaires), and the US corporate news media wants to keep you ignorant of these facts.

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On Saturday, December 1, 2018, riots continued in France against political corruption. 224 people were arrested and 110 injured for what amounts to protesting against secret deals between politicians and the rich that call for the government to redistribute income and wealth from the 99 to the 1 percent. Your US corporate news media does not want you to know this.

The French government under President Emmanuel Macron reduced taxes on the rich and their corporations while raising taxes on the 99 percent. Macron claimed taxes were raised on petrol, diesel, and other items needed by the 99 percent in order to combat carbon emissions that cause global warming. That, of course, is a complete load of bullshit, but this part of the deal is being reported by the US corporate propaganda machines, known as the corporate news media, but not the other part about taxes being reduced on the rich.

Notice President Macron did not raise tax rates on beef production or offer to end subsidies to this industry to combat carbon emissions. There are more than 200,000 cattle farmers in France, producing 1.5 million tonnes in carcass weight equivalent (CWE) a year, making it Europe’s leading beef producer and the seventh largest in the world. Studies show the beef is among the biggest producers of carbon emissions in the world.

According to a report in the Guardian, “Agriculture is a significant driver of global warming and causes 15% of all emissions, half of which are from livestock…Remove the artificial support given to the livestock industry and rising prices will…” curb red meat production. “In that way you are having less government intervention in people’s diet and not more.”  (Click here for the Guardian story.)

However, reducing subsidies to French corporate beef manufacturers would be the same as raising taxes on rich shareholders, bondholders, and CEOs, as well as the 99 percent. However, reducing subsidies to the rich was never in the political equation and was likely crafted behind closed doors.

Working people cannot buy secret deals with corrupt politicians. This is simply a fact of life. To get politicians to alter the views created by secret deals to say, redistribute income from the working class to the rich, such as Macron has done, working folks need to take to the streets to voice their displeasure with corrupted politicians and political systems.

Macron has devised a nice scam to enrich his buddies, except the working class of Paris is not buying the lies as readily as US citizens permanently inhale the lies of their politicians and corporate news media, while treating the lies as gospel.

The French president’s corruption seems to have united many on the grassroots right and left in France. BFM TV reported that France’s intelligence services had identified 80 to 120 extreme-right sympathizers at the heart of the violence, while other media claimed tags and logos at the scene suggested extreme leftwing and anarchist organizations were involved.

Macron has done the impossible. He has united more and more citizens on both sides of the political equation with his corruption.

 

 

 

 

 

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On November 26, 2018, General Motors announced it was laying off 14,000 employees and shutting four factories in the US, one in Canada, one in South Korea, and two in undisclosed areas. Quite naturally, the US corporate news media announced GM was doing this to reduce sedan production because they were not all that profitable. Actually, GM cut 14,000 workers because of its falling share price.

GM had earned tens of billions of dollars the last few years. In 2016, after taxes, the automaker earned a global net income of $9.43 billion, a 2.6% decline from the $9.68 billion it earned in 2015. As recently as October 31 of 2018, barely two months ago, GM announced “third-quarter 2018 earnings results reflecting profitability in all core operating segments. Strong results in North America were driven by all-new full-size trucks, and crossovers. GM China equity income and GM Financial EBT were third-quarter records.” Click here for the source of information.

What the corporate news media is not reporting is that GM is opening new factories in Mexico, where it will produce the Blazer. GM also continues to invest heavily in China. So, US jobs are being exported once again. (Click here for more information.)

In the US, this means most of, if not all, 3,600 factory workers will be out of a job, though some workers could be transferred to other plants. At its operations in Oshawa, Canada, GM employs currently about 2,500 hourly workers and 300 salaried workers; and they’ll be gone. The US and Canada’s losses will be Mexico’s and the wealthy’s gain.

Shutting the eight factories will cost three-plus billion dollars. General Motors has to borrow the money because it has spent $13.9 billion in cash on share buybacks over the past four years while earning record profits now and then. Despite the buybacks, the price of GM shares has fallen quite a bit.

GM’s share price was over $47 in October 2017. Then the share price began to fall in spite of the billions of dollars of share buybacks with the Trump tax cuts, which should have jacked up its share price since buying $13.9 billion worth of GM shares took quite a bit of them off the market. Yet the price continued to plummet until barely above $30 in October 2018.

Notice GM did not use the billions of dollars it saved with the Trump tax cuts to purchase new plant and equipment or to upgrade its US facilities, although it is creating new jobs in Mexico and China with the tax cuts. Instead, the tax money went to prop up its share price, but to no avail. In the end, in order to attract rich investors into buying GM shares, the automaker had to lay off thousands of employees and export jobs to Mexico. The Trump tax cuts, which were focused on corporations and the rich, quite naturally, as expected, were middle-class job killers.

Since GM announced its reductions of employees, its share price has gone up to 37.95 as of November 30th, 2018. The rich are getting richer by producing nothing since the old wages and benefits earned by those GM employees who worked for a living and are now out of jobs are going straight into the pockets of the affluent via higher share prices, rising dividends, and surging corporate earnings.

That is not what the corporate news media wants you to know.

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French President Emmanuel Macron is called “The President of the Rich” for a reason.

Paris has been in flames over Macron’s insistence to shift much of the tax burden from the rich and corporations to the 99 percent. Much of the US corporate news media would have you believe the riots are simply being played out because of an increase in fuel taxes of which the stated purpose is to cut greenhouse gas emissions by reducing consumption.

Now here is what much of the US news media does not want you to know.

Macron reduced taxes on the wealthy and corporations and then increased government investments, which included spending to reduce school class sizes, improve instruction in poor neighborhoods, add services for the learning-disabled, and bolster vocational training for the unemployed. Macron is also helping out his rich corporate buddies by having the government increase subsidizing research in the burgeoning field of artificial intelligence that promises to revolutionize transportation, health care, and defense, as well as increase corporate profits, dividends and share prices, most of which will redound to the richest of investors at public expense, and especially at the expense of the poor and working class who are now paying higher taxes to fund these programs.

Needless to say, reducing tax revenues while increasing government spending meant Macron had to do something to staunch the bleeding government coffers by increasing taxes on the 99 percent. He did this by raising taxes on fuel, allegedly to accelerate the shift from carbon-emitting fossil fuels that cause global warming. He also increased other taxes paid by the 99 percent.

“You are committing violence with your policy. It’s you that are going after the poor to give to the rich!” thundered François Ruffin, a firebrand of the leftist France Unbowed party.

Mr. Macron was guilty of a “heavy moral, economic, and historical sin,” the best-selling economist Thomas Piketty wrote in the newspaper Le Monde.

Notice the massive difference between what occurs when the tax burden is shifted from the rich to the poor in France and in the USA. We in the USA have become quite docile with our GMO sodas, beer, and cupcakes as our income and wealth has been redistributed to the 99 percent over the last forty years. The US affluent now steal around 37 percent of the total income produced in the USA compared to 8 percent forty years ago, and government policies have been the conduit by which the rich have achieved this at the expense of the rest of us. We in the USA do nothing about it but lazily buy into these policies.

Macron Economic Reforms Stronger Than Trump Tax Cuts–CNBC

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‘He was a grateful man…just not in a good way.’

The citizens of Florida may have dealt President Trump a death blow to any reelection success when they voted yes to Amendment 4, which restored voting rights to 1.5 million former felons. Naturally, this proved to be a great disturbance within the minds of the Republican Party leadership who prefer to reduce the number of people voting, which enhances their opportunities to win, along with electoral fraud, such as rigging voting machines.

According to Vox, “Black people, who are disproportionately arrested and incarcerated, will benefit the most. In 2016, more than 418,000 black people out of a black voting-age population of more than 2.3 million, or 17.9 percent of potential black voters in Florida, had finished sentences but couldn’t vote due to a felony record, according to the Sentencing Project. (Again, this includes some people convicted of murders and felony sex offenses.)”

Donald Trump won the state of Florida on November 8, 2016, with a plurality of 49.0% of the popular vote that included a 1.2% winning margin over Hillary Clinton, who had 47.8% of the vote.

Amendment 4 might very well turn the presidential election to the Democratic candidate, especially if that candidate is Bernie Sanders, Elizabeth Warren, or Jeff Merkley, all of whom are progressive Democrats, the antithesis of such corporate and Wall Stree Democrats as Hillary Clinton and Ron Wyden.


The final word about the election is that it was not a blue wave. Instead, it was a progressive wave against the corruption of both major political parties by the billionaires and major corporations. This suggests that the end of billionaire rule in the United States may be nearing an end, with the restoration of democracy clearly in sight.

The only thing missing is something to provide a big push, such as a major recession, but that is coming. It is just a question of when.

Once both houses of Congress are restored to the people, only the corrupted US Supreme Court will remain in the hands of the billionaires and their corporations. The corrupted justices (John Roberts, Brent Kavanaugh, Samuel Alito, Neil Gorsuch, and Clarence Thomas) will continue to make rulings against the U.S. Constitution whenever the financial interests of the billionaires run up against it, and whenever the interests of the 99 percent may reduce the continued accumulation of wealth, income and political power on the part of the billionaires, and at the expense of the 99.9 percent.

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It’s not quite what you imagine it to be. President Trump is right to shout to the Twitterverse about how its trade deficit with China is costing the United States trillions of dollars and millions of jobs every year.

According to a recent study by the progressive Economic Policy Institute (EPI), which is hated by the conservatives and corporate Democrats alike, “…the growing trade deficit with China…has cost the U.S. millions of jobs throughout the economy since China entered the World Trade Organization (WTO) in 2001, a finding validated by numerous studies.”

Of course, EPI did not report a few things that are important to their study, and for our interests. So, as you read through a few of the EPI highlights below, I will make comments here and there in bolded letters. However, let me state there are a few things in this report that are not mentioned, and the corporate news media do not want you to know.

  • The U.S. trade deficit with China does not really exist in the sense that it is a trade deficit between China and the United States. In reality, the trade deficit is really between US corporations that manufacture their goods and services in the U.S.A. and U.S. corporations that have exported U.S. jobs to China and then exported their-made-in-China goods and services to the USA.
  • Another thing not mentioned is that a variety of studies show the export of every 100 manufacturing jobs from the United States results in the loss of an additional 300 to 1700 U.S. jobs.
  • The difference between the old higher wage exported U.S. jobs and the new lower wage Chinese jobs goes straight into the pockets of the billionaires who control both major political parties via higher corporate earnings, rising share prices, and surging dividends. Thus, much of the income and wealth inequality of recent history is the deliberately negotiated end result desired by corporate-backed U.S. politicians and U.S. negotiators.
  • Currently, three people (Jeff Bezos, Warren Buffett, and Bill Gates) own more wealth than the bottom fifty percent of US citizens. Much of this is caused by the so-called trade deficit with China.
  • Trade treaties are negotiated so that US corporations can export jobs, as well as create them over there rather than over here, and this also helps to manufacture U.S. income and wealth inequality.
  • Pretty much 100 U.S. billionaires control both major U.S. political parties and quite naturally they have rigged the economy using the corrupted U.S. government, and especially a remarkably corrupt corporate wing of the United States Supreme Court, which includes two well-known perjurers in Brent Kavanaugh and Chief Justice John Roberts.
  • In other words, the income and wealth inequality we experience has been caused by the corruption of all three branches of the federal government, which could not have occurred without the complete corruption of the corporate news media.
  • Currently, the 1 percent steal somewhere between 22 to 38 percent of all the income produced in the United States, up from roughly 8 percent in 1980.

Here are a few of the highlights of the recent EPI report:

1. U.S. jobs lost are spread throughout the country but are concentrated in manufacturing, including in industries in which the United States has traditionally held a competitive advantage. Think Nike, Microsoft and Apple.

2. The growth of the U.S. trade deficit with China between 2001 and 2017 was responsible for the loss of 3.4 million U.S. jobs, including 1.3 million jobs lost since 2008 (the first full year of the Great Recession, which technically began at the end of 2007). Nearly three-fourths (74.4 percent) of the jobs lost between 2001 and 2017 were in manufacturing (2.5 million manufacturing jobs lost).

3. The growing trade deficit with China has cost jobs in all 50 states and in every congressional district in the United States.

4. The trade deficit in the computer and electronic parts industry grew the most: 1,209,000 jobs were lost in that industry, accounting for 36.0 percent of the 2001–2017 total jobs lost. (Think Dell Computers, Apple, Microsoft and a lot more.)

5. Surging imports of steel, aluminum, and other capital-intensive products threaten hundreds of thousands of U.S. jobs in key industries such as primary metals, machinery, and fabricated metal products as well.

6. Global trade in advanced technology products—often discussed as a source of comparative advantage for the United States—is instead dominated by China. This broad category of high-end technology products includes the more advanced elements of the computer and electronic parts industry as well as other sectors such as biotechnology, life sciences, aerospace, and nuclear technology. (This is because Dell, Apple and Microsoft, among many other US high-tech corporations, have exported millions of US jobs to China, or created them there rather than here, and then exported their Chinese made products to the USA.)

7. In 2017, the United States had a $135.4 billion trade deficit in advanced technology products with China, and this deficit was responsible for 36.1 percent of the total U.S.–China goods trade deficit that year. In contrast, the United States had a $24.5 billion trade surplus in advanced technology products with the rest of the world in 2017. (See number six in bolded letters above.)

8. Growing trade deficits are also associated with wage losses (in the USA) not just for manufacturing workers but for all workers economywide who don’t have a college degree.

9. Between 2001 and 2011 alone, growing trade deficits with China reduced the incomes of directly impacted workers by $37 billion per year, and in 2011 alone, growing competition with imports from China and other low wage-countries reduced the wages of all U.S. non–college graduates by a total of $180 billion. Most of that income was redistributed to corporations in the form of higher profits and to workers with college degrees at the very top of the income distribution through higher wages.

The China toll deepens–Economic Policy Institute

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When you vote November 6th for the Republican or Democratic Party candidates for the US House of Representatives and the US Senate, with few exceptions, you will be voting to increase income and wealth inequality in the United States and the world.

Below are some of the recent statistics on income and wealth inequality from Inequality.com. Wealth are the things that you own, such as homes, cars, stocks, bonds, businesses, etc…. Income is money you have coming in, such as unearned income like dividends and capital gains; while earned income is derived by actually doing something productive, like working at a job or starting and operating a business. Entrepreneurial folks are different from corporate folks inasmuch as the folks who manage corporations are often employees without clues as to how to make the businesses operate efficiently.

I should point out that control of the government via ownership of both major political parties has brought about an unceasing increase in wealth and income inequality in the USA and throughout the world. In other words, political corruption and corruption of the all major corporate news networks have been used to bring about unprecedented income and wealth inequality in the United States and the rest of the world.

Below are some of the most recent findings.

1. Three dynastic wealth families—the Waltons, the Kochs, and the Mars—have seen their wealth increase nearly 6,000 percent since 1982. Meanwhile, median household wealth over the same period went down by 3 percent. Notice they all inherited great wealth. Note that the rich have used their political power to redistribute income and wealth from the 99 percent to themselves.

2. These three wealth dynasties own a combined fortune of $348.7 billion. That’s more than four million times the median wealth of U.S. families. The dynastic wealth of the Walton family grew from $690 million in 1982 (or $1.81 billion in 2018 dollars) to $169.7 billion in 2018, a mind-numbing increase of 9,257 percent.

3. Three individuals—Jeff Bezos, Bill Gates, and Warren Buffett—still own more wealth than the bottom half of the country combined.

4. A third of the members of the Forbes 400 own fortunes derived from companies that were founded by earlier generations.

5. The 15 wealthiest multi-generational dynastic families on the Forbes 400 own a combined $618 billion. Their parents or other ancestors founded all of the companies from which their wealth is derived.

6. The Forbes 400 combined own $2.89 trillion dollars, more than the combined wealth of the bottom 64 percent of the United States. It’s also more than the GDP of Britain, the 5th-largest economy in the world. Just 45 individuals own half of this wealth.

7. The median family in the United States owns just over $80,000 in household wealth. The richest person in the United States (and the world), Jeff Bezos, has accumulated a fortune nearly 2 million times that amount.

8. The Bezos fortune expanded by $78.5 billion just in the last year to $160 billion. Even at the recently increased wage of $15/hour, a full-time Amazon worker would need to toil for 2.5 million years to generate this much money.

And so it goes. The entire Republican Party leadership has been bought by the billionaires as well as the entire Democratic Party leadership. In other words, the battle between the Democrats and the Republicans is a battle between billionaires. A few relatively honest major politicians remain in the Democratic Party, but they are not in leadership positions. Think Elizabeth Warren, Bernie Sanders, Jeff Merkley, and a few others.

Think Elizabeth Warren for president in 2020.

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