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Posts Tagged ‘abc news’

Ultimately, it is political corruption that plays the biggest role in creating income and wealth inequality. The Reagan tax cuts gave the rich and powerful the money to craft legislation, purchase politicians, such as Wall Street Senator’s Ron Wyden, Orrin Hatch and Mitch McConnell, and then use their corrupt corporate news media to sell the legislation using lies to the public. Now that the public has begun to see reality, the news media, such as ABC News, Fox Propaganda Network, and the Oregonian newspaper, among many others, have continued the lies about how free trade treaties are good for the economy even though the US trade deficit continues to explode more and more with each treaty. That’s because US corporations are shipping more and more jobs overseas, and then they ship the products that used to be manufactured in the USA straight back to the USA, creating the trade gap and a few longshoremen jobs along the way.

Trade treaties are perhaps the principal reason the US economy is historically weak, and why job creation and wage and salary growth are also his historically bad.

The difference between the old wages and the new lower overseas wages goes into the pockets of the rich via higher corporate profits, surging dividends and soaring share prices. That’s why the same process in terms of inequality, political corruption and news media corruption are also in play with most government actions, whether it’s war in Iraq, education loans, public school testing, privatization scams, and deregulation schemes, keeping secret the negative health impacts of GMOs, among many others, it’s all about redistributing your income, your children’s income, and your neighbor’s income, as well as your health, to the 1 percent. The US government is a total cesspool of corruption, as is the corporate news media.

Now the Obama regime is trying to pass through congress the largest income redistribution treaty of them all, the Trans Pacific Partnership. Obama’s primary ally is this corrupt scam is Wall Street Senator Ron Wyden, who is crafting legislation that hasn’t been crafted yet, but he assures those who are listening that it will be fair and balanced. This legislation is called “smart track.” It’s job is to replace fast track legislation. Fast track allowed trade treaties to be voted on with little or no debate in congress, making it difficult for the public to discover what was going on and to muster opposition. Wyden’s smart track is just another scam to redistribute income from the 99 to the 1 percent on behalf of his wall street masters.

Fight back, protest, inform and organize your neighbors. Don’t let social issues get in the way of economic solidarity with your neighbors, because that’s what the corrupt news media, the political class, and the 1 percent have been doing to the 99 percent for forty years, and that’s solely to achieve their objective of income redistribution.

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The planting of GMO crops is at an end in Jackson County Oregon. Voters banned the poisons in the election of May 20th with 66 percent of people voting yes to ban the disastrous GMO plants. Last year, like the patriots of the Boston Tea Party, patriots of the county secretly burned over GMO 6000 beet plants.

Though it’s a local issue, the Jackson County measure attracted national interest. A pair of competing campaigns raised $1.3 million to sway the county’s 120,000 registered voters. Nearly $1 million of that money was raised to defeat the proposed ban.

“The voters here have many generations of fruit and vegetable growing, so they’re among the most educated voters,” said Chuck Burr, president of the Southern Oregon Seed Growers Association. “The opposition spent a million dollars and couldn’t convince the people.”

The outcome, however, won’t start an immediate trend in Oregon because Gov. John Kitzhaber signed a bill last fall that prohibits local governments from regulating genetically engineered crops. An exception was made for Jackson County because its measure had already qualified for the ballot.

Despite the bill, opponents of GMOs in Josephine County went ahead with their own measure, saying they’ll let the courts decide if the vote is valid. 57 percent of voters in this county voted for banning the poison.

According to ABC News, “Since 2004, counties in California, Hawaii and Washington state have adopted bans. In 2012, agribusiness groups defeated ballot measures in California and Washington state to require statewide GMO food labeling.

Those who opposed local government action in Oregon said rules regarding genetically modified crops should be enacted at the state or federal level, not through a patchwork of county ordinances.” So naturally, the major giants of the GMO industry such as Monsanto and Syngenta convinced legislators to rob local people of their right to enact local laws to avoid being contaminated by GMOs.

“Though he signed the bill, Kitzhaber directed the Oregon Department of Agriculture to map where genetically engineered and non-genetically engineered crops are grown. Moreover, he asked the department to submit a state action plan for regulating genetically engineered crops, and created a task force that will examine conflicts between growers of genetically engineered products and other producers, including organic growers.

The effort to ban GMOs in Jackson County started two years ago when organic farmers learned the Swiss company Syngenta was growing GMO beets in local fields that were genetically altered. They wanted to protect their crops from being cross-pollinated by genetically modified ones.

According to ABC News, “Though genetically engineered crops are common and no mainstream science has shown they are unsafe, opponents contend GMOs are still experimental and promote the use of pesticides. They say more testing is needed.”

Actually, there are numerous mainstream studies which show the health hazards of GMOs, including at least one well known study by a GMO company named Syngenta. However, by “mainstream,” ABC News, like the rest of the corporate media, means studies funded by the corrupt corporations that produce GMOs. In other words, what they say above is pure propaganda of the worst sort.

“This vote is going to make Jackson and Josephine county one of the most valuable seed-growing regions in the entire country, period,” Burr said.

The campaign to defeat the Jackson County measure raised more than $900,000, with most of the money coming from out-of-state donors. Three major agribusiness firms — Monsanto, Syngenta and DuPont Pioneer — combined to contribute nearly $400,000. Supporters of the ban raised $375,000. The leading out-of-state contributor was Dr. Bronner’s Magic Soaps, which spent $40,000.

“Regrettably ideology defeated sound science and common sense in Jackson County,” Barry Bushue, president of the Oregon Farm Bureau, said in a statement. “We respect the voice of the voters, but remain convinced Measure 15-119 is bad public policy. While this election is over, this debate is not. We will continue to fight to protect the rights of all farmers to choose for themselves how they farm.”

Perhaps what Bushue meant, of course, “We will continue to fight to protect the profits of Monsanto, Dupont and Syngenta, even if it means exposing the livelihoods and health to toxic materials, such as GMOs.”

By the way, back in the 1990s the folks at Syngenta tested one of their GMO grains for cows and cattle and discovered it quickly killed its test subjects. It hid the results of its test and promptly began selling the killer grain. In Germany, the cows of a farmer who bought the grain died. The farmer sued Syngenta and its representatives denied under oath that its grain was harmful. After Syngenta was found innocent, a leaked document exposing the test results on cows and cattle performed by the folks at Syngenta made its way to the farmer, who promptly sued again. That case is still bending, but all of this information is available, but the folks at ABC News, like the rest of the US corporate news and propaganda machines, were willing to tell the truth to the public, and there are lots of independent tests that tell the whole story about the dangers of GMOs to public health.

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How Investors May Be Getting Fooled by Buybacks

“If you’re puzzled why the U.S. stock market has risen so fast in a slow-growing economy, consider one of its star performers: DirecTV.

The satellite TV provider has done a great job slashing expenses and expanding abroad, and that has helped lift its earnings per share dramatically in five years. But don’t be fooled. The main reason for the EPS gain has nothing to do with how well it runs its business. It’s because it has engaged in a massive stock buyback program, halving the number of its shares in circulation by purchasing them from investors.

Spreading earnings over fewer shares translates into higher EPS — a lot higher in DirecTV’s case. Instead of an 88 percent rise to $2.58, EPS nearly quadrupled to $5.22.”

Hundreds of corporations are moving their share prices up through buybacks.

How competitive are the markets in which US corporations are sitting on $5 trillion in the US, and another $6 trillion overseas? That’s allowed them to do the buybacks. The answer, of course, is that they’re not that competitive, since the markets are largely controlled by the major players, and the folks in US government knows this, and know that it violates the law, but still won’t do anything about it.

Click the link below for the rest of the story.

How Investors are Fooled With BuyBacks–ABC News

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