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Posts Tagged ‘Bill Clinton’

The activist corporate conservative justices have reinterpreted the US Constitution over the decades giving corporations all the legal rights and none of the responsibilities of real people, and then giving corporations free speech rights, which has then been used to roll back 100 years of campaign finance spending laws.

These conservative justices are not and never have been original intent jurists, as they claim. If anybody tells you the US Constitution is not a legal contract that is open to reinterpretation in a manner inconsistent with the desires of the founding fathers, they are wrong, and all you need to do is point to the modern conservative justices who represent only one economic class in the United States, and it isn’t the 99 percent (currently Neil Gorsuch, Clarence Thomas, John Roberts, Samuel Alito and Anthony Kennedy).

Since Neil Gorsuch made his way to a supreme court seat earlier this year, I’ve been waiting for all to see that the Republicans who control the US House of Representatives, the US Senate, and the United States presidency will not under any circumstances come up with legislation banning abortions. That would give their base a lot of hope such legislation could withstand a challenge in front of the conservatively loaded US Supreme Court.

In addition, the US Republican-dominated US Senate will never vote to end the filibuster on legislation so that the conservatives in the Senate can disappoint their grassroots base again. That won’t happen because doing so would raise the hopes of the Republican faithful that their dreams of saving tens of thousands of the unborn every year would be fulfilled, and this great wedge issue would be legally resolved. Perhaps then many of the faithful would begin to clamor for a more equitable distribution of income, wealth, and political power, and the leadership cannot have that.

Ergo, conservatism, as it is largely practiced in the Republican Party, is only about letting corporations and the rich legally run wild over everybody else while redistributing income and wealth from the 99 to the 1 percent. But the Republican Party is not the only representative body in the US government who performs this function on behalf of the wealthy.

So too are corporate Democrats, such as Hillary and Bill Clinton, Wall Street Senators Ron Wyden and Joe Biden and many others.

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Wall Street Democrats, such as Wall Street-owned president’s Bill Clinton and Barack Obama, as well as Wall Street’s senator’s Hillary Rodham Clinton and Ron Wyden, have led the way toward trade deals that have exported tens of millions of US jobs overseas, with the difference between the old higher US paying jobs and the new lower paying US jobs going directly into the pockets of the rich via higher corporate earnings, rising share prices and surging dividends.

These income redistribution scams are the primary reason income and wealth inequality have grown so lopsided in favor of the billionaires over the previous 35 years or so. Most of the Republican Party have stood right behind the Clinton’s, Wyden and Obama on these income redistribution scams. 86 percent of Republican voters understand these trade scams are intended to export US jobs, compared to 52 percent of Democratic voters. So the Republican leadership is happy to negotiate with the Wall Street DNC Democrats to take the lead on these trade scams. In fact, the two sides have worked together to create the income and wealth inequality in which we now suffer. That’s why Donald Trump is president.

So how do the Democrats get out of being blamed for exporting tens of millions of jobs and creating such massive income and wealth inequality? They lie and spread these lies using a number of corporate news outlets and fake academic studies that come from real universities.

When Barack Obama became president, and for a few years afterward, the US failed to create any net jobs. And so members of the Democratic Party came up with the ingenious lie; automation killed the jobs. Since then the economy has created twelve million new jobs, and you will notice automation hasn’t killed those jobs. Nor has automation killed the tens of millions of US jobs that have been exported to China, Vietnam, Mexico and elsewhere.

I’ve written about this Democratic Party lie many times.

Now in a new report, economists Lawrence Mishel and Josh Bivens of the Economic Policy Institute challenge the Democratic Party lie that the pace of automation is accelerating and that the use of robots will lead to much higher unemployment and greater inequality. They also point out that there is not one shred of evidence in any study showing that technology and automation are killing more jobs than they are creating. The authors argue that if automation actually led to higher overall joblessness, the United States would have seen consistently increasing unemployment over the last 70 years. That didn’t happen because technology and its offshoot called automation actually create more jobs than they displace.

Likewise, if automation were indeed surging and leading to joblessness in recent years, we would not have been able to reduce the unemployment rate from 10 percent in 2010 to under 4.3 percent now. The authors encourage policymakers to focus on the immediate need to create good jobs and robust wage growth—instead of getting worked up about a hypothetical “robot apocalypse.”

The imbalance of political power between the 1 and the 99 percent are the current reason why income and wealth inequality has grown over the last 3 1/2 decades.

For more information, click on the report at “The Zombie Robot Argument Lurches On; There is no evidence that automation leads to joblessness and or Inequality–Economic Policy Institute

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Rexnord Corporation is closing its ball bearings plant in Indiana, laying off its 350 workers, and exporting those jobs to Mexico. In addition, as part of its US workers severance package, many of those workers are training their Mexican replacements, who will $3 an hour with no benefits. John Feltner is a machinist earning $25 an hour in the Indianapolis, Indiana plant. He resents having to train his replacement, but he’ll lose his severance package of $5,000 if he refuses.

Most of the difference in pay between US and Mexican workers will go straight into the pockets of wealthy shareholders. Rexnord’s share price peaked at $30.82 in April 2014. It’s been dropping ever since. It hit a low of $14.72 on January 15 2016, rose a tad, and has stayed stagnant since, hovering around $22. No doubt CEO Todd Adams is hoping that exporting jobs to Mexico will increase its bottom line and attract investors to bid up the share price and his compensation. His CEO pay is tied to the share price thanks to legislation signed by then President Bill Clinton.

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Exporting jobs and CEO pay tied to corporate share price are two of the biggest factors in the widening gulf between the 1 percent and everybody else because they redistribute income and wealth from one group to the other. Currently, six individuals own more wealth than the bottom 50 percent of humanity, while the 1000 richest individuals own more wealth than the bottom 70 percent. Currently, in the USA, the 1 percent steal 35 percent of all income every year, compared to 8 percent in 1980, thanks to their ownership of such politicians as the Clinton’s, Wyden, Mitch McConnell and Orrin Hatch.

John Feltner and his 350 fellow workers lost their jobs thanks to Bill Clinton, who signed legislation deregulating Wall Street, as well putting his signature on the North America Free Trade Agreement (NAFTA. NAFTA was negotiated by Clinton’s representatives with an eye to getting US corporations to export US jobs to Mexico in order to boost their bottom lines. After he left the presidency, Wall Street rewarded the Clinton’s for their service to the tune of tens of millions of dollars. The Clinton’s are still faithful servants of Wall Street in their war against the middle class, such as the workers at the Rexnord plant.

We also can’t forget Democratic Wall Street Senator Ron Wyden has continuously supported redistributing the income of the middle class to billionaires. The Democratic Party is corrupted to the core by big money, though maybe a bit less than the Republican Party. But then again, maybe not.

“The big picture is that American jobs are leaving this country to exploit cheap labor,” Feltner said. “When you start taking away the middle class, what do you have left?”

This is the sentiment that President Donald Trump played to so effectively during the 2016 presidential campaign. It spoke to John Feltner somewhere down deep.”

“He’d been a loyal union man for years, been raised on the notion Democrats were the party of the working man and made calls for Democrats from union phone banks. But after the trade agreements that Bill Clinton and Barack Obama signed, and after Trump spoke to the plight of workers at places such as Carrier, John Feltner broke ranks.

With the layoff fresh on his mind, he cast his November vote for Trump. He says most of his rank-and-file union members did the same.”

And what were those workers supposed to do? Support Hillary Clinton who aspired to export millions of US jobs to China via the Trans Pacific Partnership (TPP), which was being negotiated on behalf of Wall Street by then President Barack Obama?

Feltner and his fellow employees don’t know what they’re going to do once their jobs are gone. Thank you Bill Clinton. Thank you Barack Obama.

For more on this story, click the following link, Rexnord’s Indiana Plant Exported to Mexico–USA Today

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20150224_problemThe financial collapse of 2008 was the worst recession since the Great Depression. Give President Obama and his administration credit for saving the economy from the depredations of Wall Street despite massive Republic resistance to resuscitating it, which they did solely for political gain. However, this historically weak recovery masks a startling reality.

Only one perpetrator of Wall Street crimes was ever brought to justice, and he wasn’t a big figure in the massive corruption going on. In March 2009, Obama met with Wall Street leaders and said, “I stand between you and the pitchforks. I am on your side and I will protect you.”

Only one banker from that era was prosecuted. That was Bernie Madoff, and the only reason he was carted off to prison was because he stole from rich people. And not one other Wall Street criminal executive went to jail after stealing billions via fraud, money laundering of Mexican drug cartel profits, and numerous other crimes. Many became his financial advisers, which meant Obama pursued policies to redistribute income from the 99 to the 1 percent for eight long years.

At all times, Obama refused to bite the hand that funded his past, present and future, as well as funding much of the Republican and Democratic Parties. In other words, Obama was largely, if not completely, in the back pocket of Wall Street as were President Bill Clinton, both President’s Bush, Ronald Reagan, Hillary Clinton, Mitt Romney, Wall Street Senator’s Ron Wyden, Mitch McConnell and Orrin Hatch.

Obama operated in a cesspool corruption. He was part of the problem, not the solution.

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When a U.S. company closes an American plant and builds one overseas, the U.S. tax code allows the expenses incurred in both activities to be written off it’s taxable income.

Under Current US Tax Laws Businesses Are Allowed To Deduct Operating Expenses. Which Include The Cost of Moving Jobs In The U.S.A. Overseas. (Internal Revenue Code)

Companies That Create Jobs In The U.S.A. Should Receive Tax Breaks. Companies That Send American Jobs Overseas Should Not. In fact, US corporations that export jobs overseas should be taxed on any products they export to the USA from their factories overseas, like president-elect Donald Trump promised he would do.

Tell Congress To Stop Using Our Tax Dollars To Fire American Workers

Contact Congress
http://www.contactingthecongress.org/

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Ford announced Wednesday that it will move its entire small car operation from America to Mexico.

“Over the next two to three years, we will have migrated all of our small car production to Mexico and out of the United States,” said Ford CEO Mark Fields, during an investor conference it was hosting in Detroit, Michigan. Notice he told investors what they should expect.

Ford’s share price continued its slow decline anyway. The share price peaked back in 1999 at $37.14. It’s been up and down since then, but never back up to the peak. The share price plummeted to a $1.43 in 2009, reached $18.65 in 2011, hit another peak in 2014 at $17.72 and has been going down ever since. The shares traded at $12.11 on September 16, two days after Fields made his foolish announcement to investors.

Ford management has exported over half of its US jobs to Mexico since NAFTA. Thank you Bill and Hillary Clinton. This has been done to reduce its labor costs and increase its profits, share price and dividends. Ford’s decision will also increase income inequality and reduce its long-term per capita sales.

So what happens when virtually all of Ford’s jobs are overseas? What happens when the next recession hits sometime within the next twelve months, most likely by or before June 2017?

Ford management can’t export many more jobs to Mexico, so that avenue to increase earnings and share prices will soon close down. The next recession will be worse than the last one, which I will explain why in a day or so. Ford’s retained earnings peaked at $27.5 billion a year ago. That’s dropped by $11 billion in a year. In other words, Ford is running out of financial room to maneuver, especially during this coming economic downturn.

The company still gives a nice dividend of nearly 5 percent. But all that means is that Ford will run out of money sooner than later during the downturn.

Expect its share price to drop back down to a dollar something, or less. The company likely will be facing a financial crisis and possible insolvency within the next five years.

Ford is an unwise investment, even for billionaires and hedge funds. Even if the company doesn’t face insolvency over the next five years, its share price is going to continue to tank in the long-run, but CEO Fields hasn’t figured that out. He should be investing in US production rather than investors, and to hell with the share price.

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As Wall Street President Obama readies a last minute desperate push to pass the Trans-Pacific Partnership (TPP) through the lame duck congress after the November elections in his most cowardly action yet as president, large crowds descended on Portland Oregon for the Rock Against the TPP Oregon weekend of action.

Oregonians took action, educated themselves, had fun and enjoyed a great concert! This was part of a nationwide protest tour featuring celebrities such as Golden Globe nominated actress Evangeline Lilly, comedian Hari Kondabolu, and punk rock legends Anti-Flag. The tour next stops in San Francisco on September 9th at Regency Ballroom with an event featuring Jello Biafra, Grammy winning latin alternative band La Santa Cecilia, and riot-grrrl cello legend Bonfire Madigan. Additional tour dates to be announced, for more information visit http://www.RockAgainsttheTPP.org.

The TPP is a massive income and political power redistribution scam from the 99 to the 1 percent, and like NAFTA, it is a clear violation of the US Constitution, which requires the approval of 2/3rds of the US senate. NAFTA only received 61 votes.

Approval of the TPP creates a secret investor court in clear violation of the US Constitution. That court will allow foreign corporations, many of which are owned by US corporations and or have a high number of US investors, to challenge US laws that corporate hacks decide might inhibit future corporate profits.

So if you want to vote to ban a gasoline additive that’s being sold in your areas that has leaked into and poisoned your water system and caused babies to be born without brains, then the foreign corporation loaded with US investors can challenge that law in a secret tribunal in which you won’t be invited. In other words, the politicians who support the TPP, which is nearly the entire Republican Party, and Wall Street Democrats like Barack Obama, Bill and Hillary Clinton, Ron Wyden and Earl Blumenauer are all voting to redistribute your income and your voting rights (in violation of the US Constitution) on behalf of the bottom lines of foreign corporations, but also their US investors.

For information on how the TPP will create greater inequality by paving the legal way for US corporations to export millions of US jobs, click what-the-corporate-propaganda-network-doesnt-want-you-to-know-one-of-the-many-ways-the-trans-pacific-partnership-will-destroy-us-jobs-and-redistribute-massive-income-and-wealth-from-the-99-to-the-1 Percent-JohnHively.Wordpress.com

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