Feeds:
Posts
Comments

Posts Tagged ‘Donald Trump’

One of history’s greatest groups of scum, villainy, treason, greed and gluttony resided in the George W. Bush White House. Now President Donald Trump has rewarded one of those villains.


Scooter Libby-the face of a traitor

Last week, President Donald Trump pardoned a traitor to the United States–Scooter Libby, former Chief of Staff to the unconvicted US traitor, then Vice President Dick Cheney. Libby was part of Cheney’s inner circle that made the decision to out an undercover CIA officer named Valerie Plame for political purposes. Plame was undercover and working for a CIA front company named Brewster Jennings and Associates, which infiltrated ties between groups involved in smuggling nuclear weapons and the material to create them to countries such as Israel, North Korea, and Pakistan.

Plame was married to Joe Wilson, a former ambassador to Niger. In lying the people of the United States into war, members of the Bush regime claimed Iraq was trying to develop a nuclear bomb, and they cited evidence Iraq was trying to purchase uranium from the African nation of Niger. The CIA sent Wilson in 2003 to investigate. He reported back that the Bush regime was incorrect in their claims, and then wrote an op-ed in the New York Times pointing this out.

The traitors in the white house decided to punish Wilson by outing his undercover CIA wife. In doing so, they punched a billion dollar hole in US security. Brewster Jennings was gone thanks to the traitors.

Even the worst, most incompetent and arguably the most corrupt president in US history, George W. Bush, who worked closely with Libby when the latter served as chief of staff to Vice President Dick Cheney, refused to pardon Libby, who had been convicted of perjury and obstruction of justice in 2007 for his role in the leaking of the identity of CIA undercover operative Valerie Plame.

Here is what the corporate news media does not want you to know; In outing Valerie Plame, Libby and the rest of the human scum in the Bush White House were attacking honesty. They did this to protect the dirty lies they fabricated and used to influence public opinion into launching the United States into a war against Iraq. The liars in the Bush White House wanted to steal the Iraqi oil fields for their Big Oil billionaire buddies using the United States military.

They did not give one damn cent about the tens of thousands of US and Iraqi lives their lies murdered. They did not give a dog’s fart about the trillions of US taxpayer dollars wasted because of their lies. The greed for wealth and power were the only things that mattered to these sub-species of humans (That is if you feel a fully human person cares at least a little for their fellow humans, and are not willing to sacrifice the lives of thousands of people for money and power).

Every member of the Bush White House got away Scot free for launching a war based on lies, except Scooter Libby. Now President Donald Trump has done a most despicable thing. He has rewarded a man who waged war against the truth with a pack of dirty lies, a man whose lies helped kill tens of thousands of people, made homeless a million more and cost the US taxpayers trillions of dollars.

Three years after Plame and Brewster Jennings were outed, North Korea announced it had produced its first nuclear bomb. All of this is thanks to the Bush White House lies and to Scooter Libby.

None of this matters to Trump, who is now a supporter of traitors to the people of the United States. Can Trump stoop any lower?

Libby, a convicted perjurer, and obstructor of justice is currently a practicing attorney in Virginia. How honest can attorneys be in Virginia? Any convicted traitorous lying scum can apparently be licensed as an attorney in Virginia. Standards are not too high there.

Larry Johnson, a former CIA and State Department official who was a 1985 classmate of Plame’s in the CIA’s case officer-training program at Camp Peary, Va., known as “the Farm,” predicted that when the CIA’s internal damage assessment is finished, “at the end of the day, (the harm) will be huge and some people potentially may have lost their lives.”

“This is not just another leak. This is an unprecedented exposing of an agent’s identity,” said former CIA officer Jim Marcinkowski, who’s now a prosecutor in Royal Oak, Mich., and who also did CIA training with Plame…

Advertisements

Read Full Post »

The rich and Wall Street executives have been quaking in their boots recently. Their Ponzi Schemes and bubbles known as the financial markets are in danger of collapsing. And it’s all because of President Donald Trump.

Trump is threatening to levy taxes on products made in China and exported to the USA. These taxes are called tariffs, and here’s what the corporate news media doesn’t want you to know. By doing this, Trump is also threatening to deflate the recent stock market bubble, which is the same thing as saying Trump is threatening to decrease by significant margins the income and wealth of the billionaires who control both major political parties in the United States.

Tariffs are taxes on goods being imported into the USA from foreign nations. US corporations export into the USA tens of billions of products manufactured in China, Vietnam, Mexico and other third world nations. Increased tariffs mean US corporations will need to raise the prices of their Chinese and other third world products, or lower their profit margins.

The profits of corporations are the primary component determining the prices of shares. When profits drop, especially in the long term, share prices fall. So the share price of say, Home Depot could fall from $176 a share to $14 a share. If you own millions of shares you lose quite a lot of money. This is why the threat of tariffs in steel and aluminum has roiled the US financial markets as of late. A lot of paper wealth is going to evaporate as stock prices drop should the tariffs be enacted. Dividends may decline, as well.

Tens of millions of US jobs have been exported from the US to China, Vietnam, India, Pakistan, Mexico, Honduras and elsewhere over the last twenty-five years. This has been done in order to jack up corporate profits by significantly reducing US labor and environmental costs. The difference between the old higher US wages and benefits and the new lower wages without benefits has gone straight into the already fat wallets and bank accounts of the superrich. They have used their ill-gotten gains to bid up the prices of corporate shares, gold, housing, commodities futures, and other investments.

President Trump’s threat to use tariffs against China and other nations means fewer dollars will go into the pockets of the rich if the tariffs are enacted. It also means potentially massive losses in the stock and maybe even bond markets.

Some corporations may even be inclined to export their jobs in China back to the United States if the tariffs are enacted. The middle class will benefit with additional jobs should this come about. In other words, the tariffs could redistribute income from the rich back into the pockets of the 99 percent, and this is something the billionaires will not allow their corporate media outlets to tell you. The proposed tariffs are limited, and therefore will not have much of an impact, but they will have some positive benefits to the US 99 percent.

Currently, six men own more wealth than the bottom 50 percent of the world’s people (See https://johnhively.wordpress.com/2017/02/23/six-men-own-more-wealth-than-the-bottom-50-percent-of-human-kind/). In the USA, the 1 percent own more wealth than the bottom 90 percent for the first time in US history (See https://johnhively.wordpress.com/2017/12/03/in-the-united-states-the-1-percent-now-own-more-wealth-than-the-bottom-90-percent-for-the-first-time-in-us-history/). In the United States, the 1 percent steal as much as 35 percent of the income produced in the USA every year, up from 8 percent in 1979.

Trump’s tariffs will likely put tiny brakes on the continuously growing inequality of wealth and income produced by free trade agreements. Those brakes will likely only slow down the growing income and wealth inequality rather than halting or reversing them. But the tariffs would be a beginning to reversing the massive income and wealth inequality which the rich have successfully conspired to produce over the last thirty-seven years.

A few other things are in order. The USA has the fifteen to twenty largest trade deficits in world history. That means the US imports more goods than it exports. Our largest trade deficit is not with China, as the media claims. In reality, the largest US trade deficit is with US corporations that have exported tens of millions of US jobs overseas. The purpose of exporting tens of millions of US jobs has been to redistribute trillions of dollars from US workers to the rich, avoid US pollution controls (thereby increasing profits),  and avoid US health and safety regulations.

What American Presidents Have To Say About Tariffs:

“America’s growth and future depend on trade. But we would insist on trade that is fair and free. We are always willing to be trade partners but never trade patsies”. President John F. Kennedy.

“Protection, which guards and develops our industries, is a cardinal policy of the Republican Party. The measure of protection should always at least equal the difference in the cost of production at home and abroad.” President Theodore Roosevelt

“A wise tariff protects American industries and manufacture. It encourages growth and enterprise among our own people. It opens our mines, it erects our machine shops, our furnaces and factories”.
President William Mckinley

It Was Good Enough For Kennedy, Roosevelt & McKinley. Why Isn’t It For Congress?

Read Full Post »

Did President Donald Trump get bamboozled by his own Republican Party? Or is he simply a liar and or stupid? One thing is certain. As a so-called billionaire, President Trump received a nice tax cut at my expense as of January 1, 2018.

The Trump tax cuts went into effect on January 1, 2018 and my federal taxes went up. I’m just a middle-class kind of guy with a respectable middle of the road five-figure income.

The federal government took nearly 13 percent of my middle-class income out of every paycheck in 2017. So far in 2018, the federal government, thanks to those lying political miscreants Donald Trump and his Republican Party henchmen, are stealing nearly 18 percent from every one of my paychecks. Now, I am paying 28 percent more in federal taxes while rich folks and their corporations are paying less.

I am earning exactly the same amount of money per week in 2018 as I earned in 2017. So, no, I did not move up to a higher bracket.

That makes it official; I am paying more so the rich and their income generating machines called corporations can pay less. And I’m guessing there are millions of folks like me seeing increases in their federal taxes so that the rich folks can pay less.

Don’t get me wrong. I don’t mind paying my fair share of taxes. However, I do not like being sold something with a pack of lies in order to give corporations enjoying record profits quarter after quarter cuts in their taxes and to give billionaires and millionaires tax cuts they don’t need. That is precisely what the Republican Party has engineered with bald-faced lies, as usual.

Let’s face reality head-on. Just about every publicly traded limited liability corporation is a tool of rich folks, giving them the power to earn and steal money from the rest of us, as well as enabling them to corrupt our political and judicial institutions, which has allowed them to screw the rest of us over. That’s something the rich have been doing since 1980. (To see how they have corrupted the US Supreme Court, please hit https://johnhively.wordpress.com/2018/02/25/the-editorial-the-rich-dont-want-you-to-read-corruption-of-the-united-states-supreme-court-what-the-rich-and-their-corporate-so-called-news-media-dont-want-you-to-know/)

The rich, corporations, the Republican Party, and President Donald Trump have redistributed my income into the pockets of the superwealthy. No doubt millions of middle-class Americans are paying more so the rich can pay less. I want to hear about. Please take the poll below.

Read Full Post »

In exercising control of the political processes in the United States, and thereby determining the distribution of income and wealth, one of the foremost strategies the rich use to suppress US democracy is to divert the attention of the 99 percent from looking after their own economic interests by raising social concerns.

Republican Party leaders, such as the Bush family, Donald Trump, Mitch McConnell, Paul Ryan, and Orrin Hatch are awesome at this. So instead of Republican grassroots voters thinking how grotesque and anti-Jesus income and wealth inequality have become in the USA, they are led to think about war against Christmas, the Muslim peril, terrorism, President Obama is going to take your guns, the war against white males, transgender bathrooms, abortion, undocumented immigrants and much more.

Democratic Party leaders, such as the Clintons’, Nansi Pelosi, Wall Street Senator Ron Wyden and others, are also awesome at creating social issues that are shamelessly self-serving at diverting our attention away from their helping the rich redistribute our income into their pockets via trade treaties and other legislation. Think about the war against women, keeping abortion legal, transgender bathrooms, racism, undocumented immigration, and much more.

The corporate news media is also quick to divert our attention away from the income and wealth inequality since they also serve the interests of the rich, being linked by the need for advertising dollars to keep their profits and share prices rolling upward.

Diverting us is determined by a “collectively manufactured elite (meaning parasites) consensus,” according to Branko Milanovic in his book Global Inequality. Given the enormous amount of private money that is used in politics and media, one cannot but think that this is one of the aims of these investments.

A perfect example of this is being played out in the media as you read this. Pornstar Stormy Daniels is suing President Donald Trump over an adulterous affair he allegedly had with her at the same time President Trump is pushing for more deregulation of Wall Street. Most media attention is one the Daniels issue because the corporate media does not want you to know the president, the entire Republican Party, and sixteen Democratic senators support the president’s proposal.

The last time there was deregulation of Wall Street we came face-to-face with the Great Recession. The next recession should be even worse, even without the deregulation.

And so it goes again, around and around. Democratic grassroots are gloating over the Daniels issue, while Republican grassroots are rushing to his defense, all the while oblivious to the fact that legislation is about to be passed making it easier for Wall Street to rip the 99 percent off even more than it is already.

Read Full Post »

The red line in the graph below represents borrowing to buy corporate shares. The blue line represents the growing value of the S&P 500 stock index. Notice the growth in the financial markets is being fueled by record amounts of debt. The growth of both clearly mirrors each other.

Eight months ago, I wrote, “The latest in a long line of stock market bubbles is being fueled by record amounts of debt according to the New York Stock Exchange. This debt is called “buying on margin” (BOM). Notice the acronym of BOM, which is pretty close to bomb, and this current bubble is going to explode. Total BOM hit a record high of $528.2 billion in February 2017.”

By November 2017 (the latest data that is available), total BOM hit nearly $581 billion. Stock prices, in other words, have been bid up with borrowed money, like at an auction.

Once the lunatic Trump tax cuts were passed, the already dangerously obese stock market bubble began expanding even more in anticipation of more after-tax cash going to the rich and corporations, to whom the vast majority of those tax cuts were targeted. This has given corporations and the rich the leverage to borrow on margin even more in anticipation of future increased after-tax earnings.

That is not necessarily always a big problem early in a business expansion when the market is going up, but it’s now late in the ball game. Our economic expansion is 103 months old (as of January 2018), making it the third longest in US history. In terms of numerous indices, such as job, GNP, and wage growth, this is one of the weakest expansions in US history. The vast majority of new income and wealth have gone to the top 1 percent, and not to the 99 percent.

All of this suggests the coming crash is long overdue. When we hit this soon to arrive recession, it should be a train wreck worse than the so-called Great Recession of 2007-09.

November’s total BOM was nearly $80 billion more than twelve months before. This increase is a sign of optimism or foolishness. People and institutions like hedge funds want to get in on the action while the stock markets are rising. What is going to happen when the bubble pops?

Suppose you have $10,000 to invest, so you purchase 100 shares of Home Depot at $100 per share. The market crashes and the share price drops to $40. Now your investment is worth $4,000. That is not a good result, but your investment is still worth something, and can potentially recover if you hang on to it in the long run.

Let’s say you borrow an additional $20,000 from your broker to buy another 200 Home Depot shares at $100 each for a total of 300 shares and at a total cost of $30,000. The market crashes and the share price quickly drops to $40. Now all 300 shares are only worth $12,000 — but you owe your broker $20,000 (plus interest) for borrowing money to buy the stock. The broker calls in his loan. You are forced to sell your shares to get the funds to pay your broker but at the lower share price. You lose $18,000 of your $30,000 investment. But your broker wants the rest of his $20,000 plus interest. You only have $12,000 remaining of your original $30,000 investment, so you owe more than $8,000 to your broker.

So your original $10,000 is wiped out, your loan of $20,000 is annihilated, and you need to come up with $8,000 plus interest to pay back your broker.

During most recessions, it is much more difficult to get credit to pay your broker back, so you may both be out of luck, although you’ll likely be in court defending against him, her or it.

On a massive scale, say trillions of dollars of investments, that’s a recipe for absolute disaster for the whole economy. Corporations of all types (which often borrow to purchase their own shares in order to jack up their share prices), as well as hedge funds, governments, investment banks, commercial banks, small businesses, other wealth management firms, etc…, will likely need to lay off employees in order to pay back the money they owe.

Side Notes

***Let’s also get something straight which the corporate media doesn’t want us to know; tax cuts for corporations are the same as tax cuts for the rich since corporations in great measure pass on their tax cuts to the wealthy via higher after-tax corporate profits, rising share prices and surging dividends.

***As an aside, your government has allowed a conspiracy in restraint of trade in the housing market to be the primary fuel that ignited this current stock market bubble. See The Big Banks Are Manipulating the Housing Market–JohnHIvely.wordpress.com.

Read Full Post »


The United States Federal Reserve Bank issued a report in September 2017 showing the top 1 percent of US income earners own almost twice as much wealth as the bottom 90 percent of Americans.

According to the Fed’s report, the bottom 90 percent of citizens have seen their wealth fall from nearly 38 percent of total US wealth in 1989 to 23 percent today, a 40 percent drop. Meanwhile, the 1 percent has seen their share of wealth grow from just under 30 percent in 1989 to 38.6 percent today.

In the same report, Federal Reserve researchers reported the rich took a record-high 23.8 percent of the overall US created income in 2016, up from approximately 8 percent in 1980. The report showed the bottom 90 percent of families now make less than half of the country’s income. That figure slipped to 49.7 percent in 2016, down by more than 20 percent since 1989.

A perusal of the U.S. Bureau of Economic Analysis (BEA) shows total US corporate profits hit their highest level ever in the third quarter of 2017. The next three highest were during the three quarters preceding the third quarter. Corporate after-tax earnings were also at their highest levels during the past four quarters. This shows US corporations are doing fine without the tax cuts.

According to the BEA, despite record aggregate corporate earnings in 2017, average monthly job growth was lower than in 2016. Rather than increasing jobs, much of those record earnings are providing higher dividends and share buybacks. Both of these are done with the intention of raising share prices, thereby fueling an already dangerous stock market bubble.

There is a good chance that much of the corporate tax cuts will be used to increase dividends and find ways to increase share values, which redounds mainly to the rich.

In a research report for the National Bureau of Economic Research, economist Edward N. Wolff shows that the top 1 percent own 40 percent of all corporate shares, while the 90-99 percent own 44 percent, as of 2016. That means the top ten percent will be the primary beneficiaries of the new tax cuts for corporations, increasing both their income and their wealth relative to everybody else.

Thus, income and wealth inequalities are certain to increase under the newest Republican tax cuts. People may reasonably suspect the tax cuts were written to ensure this result, and with potentially dire results.

The stock market bubble may grow bigger than would otherwise be the case in the absence of the tax cuts. Once the bubble bursts, the 99 percent will likely be the principal victims in the form of higher unemployment, reduced incomes, home foreclosures, increased homelessness, and all the things that historically come with the bursting of stock market bubbles.

Read Full Post »

Donald Trump has been in office nearly a year, Republicans control the US House and the Senate, and nary a word has been voiced by Republican legislators or that guy in the white house about passing legislation prohibiting abortion.

Senate Republicans passed tax cuts for the rich with only 51 votes using a procedure called “Reconciliation.” Now “reconciliation” has to deal with budget matters and has nothing to do with, say, making abortion illegal. However, the Republican Senate could easily advance a motion that requires a simple majority vote on legislation outlawing abortion, but they are not likely ever going to do this.

The Republicans in the US Senate passed a motion to make certain that all nominees to the US Supreme Court are able to take a seat on the highest court in the land with only a majority vote in the Senate, and filibusters are forbidden.

So what gives? Why won’t the Republicans eliminate legal abortions?

The Republicans, quite naturally, play the folks on the religious right as much as the Democratic leadership plays labor union members. The last thing Republican leaders want to do is pass legislation banning abortions. Doing this would allow fundamentalist Christians to focus on other issues.

What would Jesus Christ focus on in the absence of the abortion issue? Something about rich folks getting into heaven via an eye of a needle comes to mind. That has to be a giant needle, or maybe Jesus meant rich folks don’t have a shot at the kingdom of heaven. Maybe Christians might begin thinking about things like wealth and income inequality. That’s a big issue nowadays because income and wealth inequality has become so lopsided in favor of 1 percent of the population (See In the USA, the 1 Percent Now Own More Wealth Than the Bottom 90 Percent–JohnHively.Wordpress.com). The last thing the Republican leadership wants is defections of its base to the other side on the issue of wealth and income inequality.

My best guess is the Republican leadership doesn’t want to lose its grassroots base, and keeping abortion rights alive is the key to keeping the base aroused and under control by maintaining the base’s eternal hope that abortion one day will be legally ended. This hope, of course, can only be kept alive by keeping legalized abortion alive.

Read Full Post »

Older Posts »