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Posts Tagged ‘Franklin Roosevelt’

How things have changed! Back in the 1960’s, Rachel Carson’s book Silent Spring warned about the human health dangers caused by insecticides. Industrial pollution ensured that US lakes and rivers caught fire. In 1970, conservative Republican US President Richard Nixon signed the legislation creating the Environmental Protection Agency (EPA). The EPA’s job was to clean up the pollution. The result is that much of that US industrial pollution has been exported to China, India and elsewhere.

US business leaders have long chafed under the chains of the EPA. The more pollution these folks are allowed to create, the more profits their corporations earn, the higher corporate share and bond prices rise. So big business has conspired to takeover the EPA, so as to bend the rules to their favor.

Scott Pruitt, a loyal servant of the profit needs of big oil now heads the EPA. President Franklin Roosevelt once said that businessmen had made certain that government had become an appendage of their profit making before he took office. Pruitt is now in position to ensure the EPA does not do its job in the USA. So expect human health considerations to be shunt aside in favor of the profit desires of big oil and Koch Industries, because as Attorney General of Oklahoma, that is precisely how he defined his job, as you can see from the video above.

Most of the politicians governing the US today are among the most corrupt in world history, and that includes US corporate apparatchiks, such as Mitch McConnell and Ron Wyden.

Think about this. Nixon is considered to have been one of the most corrupt president’s in US history. He was a man who’s crimes were considered so great that he was forced to resign from his office. Yet he ignored the advice and bribes of his corporate sponsors to create the EPA. And the crimes he committed pale in comparison to President Bush lying us into war, or to embroil us in the Iran-Contra scandal.

Something has gone terribly wrong with the USA since Nixon. Crimes are committed by people in high office, and there is no concern for punishment, because the criminals are in charge of the white house, the senate, the US house of representatives, and the US supreme court. There’s no one to answer to for ones crimes in government nowadays. The US government is rotten through the core with corruption.

Yet, there is an economic hurricane just around the corner. When that hits, we’ll be able to clean house, like FDR did in 1933. Get ready.

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Official portrait of President Barack Obama in the Oval Office, Dec. 6, 2012. (Official White House Photo by Pete Souza) This official White House photograph is being made available only for publication by news organizations and/or for personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that in any way suggests approval or endorsement of the President, the First Family, or the White House.

Official portrait of President Barack Obama in the Oval Office, Dec. 6, 2012.

President Obama was no Franklin Delano Roosevelt, but he did take office during an economic crisis greater than any since the Great Depression, a mess helped along by the worst and one of the most corrupt presidents of all time, George W. Bush. I don’t consider Obama to be a great president. I don’t think we’ve had one since Harry Truman. That being said, I think he’ll be remembered fondly even though he was largely a puppet of Wall Street.

1. Obama actually accomplished quite a bit despite the fact the Republican Party leadership fought against almost everything he wanted tooth and nail even if it meant sending the United States down the tubes. Republican Senator Mitch McConnell said, “Our top political priority over the next two years is to deny President Obama a second term.”

2, Got us out of the illegal and costly occupation of Iraq.

3. Passed Health Care Reform: After five presidents over a century failed to create universal health insurance, signed the Affordable Care Act (2010). This became the first time in US history the government could tax us for not buying something, which is not a good sign since now the government can tax you on anything you choose to not purchase. This legislation also drove up health care costs for everybody, increased deductibles and co-pays.

3. Ended the trade embargo against Iran, which put Iranian oil back on the market and helped drive down the cost of oil and gasoline.

4. Signed $787 billion American Recovery and Reinvestment Act in 2009 to spur economic growth amid greatest recession since the Great Depression. Weeks after stimulus went into effect, unemployment claims began to subside. Twelve months later, the private sector began producing more jobs than it was losing, and it has continued to do so for seven years, creating 12 million new private-sector jobs. However, it should be pointed out that on a per month basis this growth was worst than that which occurred under President Jimmy Carter. On the other hand, monthly job growth of all of the presidents since Carter have been worst than what happened under Jimmy.

Worst Action?

Along with Wall Street Senator Ron Wyden, President Obama continuously groveled at the feet of Wall Street and other big corporate executives, which is why he mightily tried to secretly ram through the Trans Pacific Partnership (TPP). Obama promised an open and honest administration, but he was extremely secretive about the TPP, most likely because it would’ve exported millions of US jobs and redistributed trillions of dollars from working folks to Wall Street and other corporate executives and rich shareholders.

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According to Jack Bogle, founder of Vanguard, the mutual funds investment company, Social Security is in crisis.

Bogle said the system’s finances could get a big boost from changes that may be rejected as “politically sensitive,” including

  1. adopting a less-generous approach to calculating cost-of-living adjustments,
  2. raising the maximum annual earnings subject to Social Security tax,
  3. and raising the age for full retirement benefits further from the current range of ages 66 to 67.

First of all, Social Security is not in a crisis. The Fund has a reserve of $2.5 trillion that earns $180 billion in interest a year. That money is due to be used up by roughly 2036 as more and more baby boomers retire. Then Social Security can still pay 84 percent of everybody’s benefits after that.

This means it won’t take much to make up the shortfall. Currently, nobody pays social security taxes on income above $118,500. Simply eliminating this cap on taxing income would erase the future shortfall. However, we could go farther and with good reason.

Here’s what the corporate media doesn’t want you to know.

Trillions of dollars every decade earmarked for the social security trust fund are redirected from the fund into the already fat wallets of the super rich. The rich don’t pay social security taxes on capital gains and dividends. Every time a job is exported, the wages and social security contributions from that job are transformed into capital gains and dividends.

Millions of jobs have been exported. That’s hundreds of billions of dollars every year no longer heading into the Trust Fund because the difference between the old higher US wages and the new lower third world wages goes straight into the pockets of the ultra wealthy via capital gains and dividends.

Capital gains and dividend income are exempt from paying social security taxes.

So why not establish social security taxes on dividends and capital gains above a certain point, say $100,000 a year in income from those sources?

Then you could increase monthly payments to retirees while simultaneously raising the demand for goods and services, which would strengthen the economy, as well as spur job and wage growth.

Wall Street won’t like it, but millions of older folks could use the money being stolen from social security via international income redistribution scams falsely marketed as “trade agreements.”

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The Democratic Party has been under control of Wall Street investment bankers since the Bill Clinton presidency. They also control the current Democratic presidential candidate.

Bernie Sanders has created a movement that will likely take over the helm of the Democratic Party within the next four years. In other words, a movement is being built for FDR Democrats to retake the party from the investment bankers.

“We have a political revolution to transform America,” Bernie said during his Democratic National Convention last night. The time is close at hand for this revolution to succeed. We have a Great Depression rumbling down the road at full throttle (See The Coming Recession: It’s Going to be a BIG ONE–JohnHively.wordpress.com.

The Republican Party leadership will, quite naturally, insist on more trickle-down economics as a means to remedy the disastrous Depression that trickle-down economics got us in to in the first place. Trickle-down has produced the greatest income and wealth inequality of any major industrialized nation of the last two hundred years. It’s created the most corrupt government in modern US history.

This Depression will hit the United States somewhere between October 2016 and June 2017. And when it arrives, a vast political change will occur over a period of many months that has not been seen since Franklin Delano Roosevelt became president by becoming a traitor to his class. And it will be through the Democratic Party that this political revolution will bare fruit, just as it happened in 1932-33.

It is “not sustainable,” Bernie said last night, “that the top 1/10th of 1 percent own more wealth than the bottom 90 percent.” He is correct. It is not sustainable. Let’s be correct about one thing.

The idle rich will not give up their political and economic power easily. It’ll be a fight to the finish, but a growing movement has formed around Bernie Sanders that will reestablish the tradition that the power of the US government, and the gains from the US economy, are going to go to those who earn it. This battle will not be won overnight, but it will be won.

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Franklin Roosevelt

The next recession is unfolding, and it’s going to be the worst one since the Great Depression. I’ve been watching this historically weak US economic expansion unravel since November 2015. See https://johnhively.wordpress.com/2015/11/06/the-coming-recession-and-us-senator-elizabeth-warrens-seniors-and-veterans-emergency-benefits-act-save-benefits-act/. We will officially go into recession sometime between June 2017 and the end of the year, give or take a few months.

Nothing can stop it. Not declining gasoline and oil prices, not falling interest rates.

The corrupt US government has passed legislation over the decades that have redistributed massive amounts of income and wealth from the 99 to the 1 percent. The 1 percent currently steal over 37 percent of all income produced in the US compared to 8 percent in 1980. See https://johnhively.wordpress.com/2015/12/29/new-study-the-middle-class-is-losing-ground-as-wall-street-senators-ron-wyden-mitch-mcconnell-orrin-hatch-and-others-continue-to-use-the-federal-government-and-the-federal-reserve-to-redistribute/. Now the 99 percent can’t purchase enough goods and services to keep the economy and the financial markets chugging along. The economy is set to collapse upon itself. However, there is even worse news.

Sometime between the November elections of 2016 and whenever the new president is inaugurated Wall Street Senator Ron Wyden will introduce the Trans Pacific Partnership (TPP) into committee. This is the largest income and political power redistribution scam in world history. The TPP is falsely marketed as a trade agreement, but it has virtually nothing to do with trade.

President Obama, ever the servant of Wall Street executives, has already signed this scam without a single word of debate in the halls of one of the most corrupt political bodies in the world–the US congress. So the TPP becomes law, unconstitutionally at that, if it passes through the US House and the US Senate.

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The TPP will only make matters worse for the 99 percent as this recession swings into full gear. The TPP will redistribute trillions of dollars of income from the 99 to the 1 percent on a yearly basis, as well as steal their state and local voting rights in many cases.

Here’s how bad this coming recession will be without the TPP:

* Effective interest rates will sink into negative levels, like in Europe.
* The nation will flirt with deflation, and possibly fall into it, because trillions of dollars have been redistributed from the 99 to the 1 percent, so demand for goods and services will be weaker than at any time since the Great Depression.
* Instead of 48 million Americans on food stamps, like during the current so-called economic expansion, 60 to 90 million Americans will be on food stamps.
* Unemployment will hit 10 to 18 percent, and will stay above 10 percent for years.
* Mortgage defaults will hit record levels.
* Home prices will decline 20 to 60 percent, and maybe more.
* On average, stocks will lose 20 to 60 percent of their values, and maybe more.
* We’re still feeling the impact of the last recession, and so too will we feel the impacts of this recession for years and years unless….
* Anticipate a possible political revolution as grassroots insurgents take over both major political parties. Think Bernie Sanders and Elizabeth Warren for the Democratic Party, and who knows for the Republican Party?
* Anticipate possible violence as the police and military crack down on protesters.
* Anticipate a US political and economic rejuvenation after many years of hard struggle. People like Wyden, one of the principal architects of this recession, will be a historical footnote.

This Depression will be worldwide.

Imagine what this recession will be like with the TPP.

Now, if we can just stop Wyden and the TPP in congress, that will make our task of a restored America for everyone much easier in the long run. And it will be in the long run that we win.

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Like Republican Party politicians, politicians of the Democratic Party sell their legislative favors to the big money boys for campaign contributions, cushy jobs after they leave office, and millions of dollars in speaking fees. Unlike the Republican Party, the Democratic Party is rapidly fading away.

In fact, it’s reasonable to call the Democratic Party a cash raising machine rather than a political party. As a political party, the corrupt Democratic Party maybe a spent force in national and state elections. So what’s the problem with the Democrats? Let’s begin at the top.

Wall Street President Barack Obama is trying to deliver the biggest income redistribution scam to Wall Street and large corporate donors in time for the Democratic Party to maximize campaign donations just in time for the 2016 election, according to Matt Taibbi of Rolling Stone. Even though Obama might deliver the goods, the beneficiaries of his largeness might not pony up the cash for a dying political party.

The scam is called the Trans Pacific Partnership (TPP), which is falsely being marketed as a trade agreement.

The TPP will redistribute massive sums of cash to big corporate donors stolen from the 99 percent. Hundreds of thousands, and likely multiple millions, of jobs will be exported from the USA to lower wage nations due to the TPP. The difference between the old higher US wages will and the new lower foreign wages will go straight into the pockets of the uber rich via higher corporate earnings, share prices and dividends.

This will be a massive boon for the 1 percent, if it comes to pass, but the TPP is likely the death blow to the remains of the Democratic Party. The reason is simple.

In order for the Democratic Party to be relevant in national and state politics, the Party must be able to muster votes. However, the Democratic base is the thing income redistribution agreements, like the TPP, hurts the most. This isn’t lost on the base, so the base is quietly and quickly fading away. Look at the numbers.

In 2008, the base rallied to President Obama and the Democratic Party under the “Hope and Change” hype of candidate Obama. When Obama took office, the Democratic Party controlled 60 US senate seats for a short while and fifty-nine for many months afterward. The Democrats held 237 US House of Representative seats, compared to 178 Republican held seats.

When he became president, Obama did his best to enrich his Wall Street benefactors at the expense of the 99 percent. He began by letting Health Insurance executives write a health care law that compelled the taxpayers to guarantee their profits into infinity. No public option, however miniscule, was on the table. Obama was also desperate to give Wall Street the South Korea income redistribution agreement, which he falsely labeled a trade agreement. Obama was also willing to reduce social security payments to the elderly in order to continue the Bush tax cuts for the rich. And these were just a few things that smelled bad to the base. Obama was a bitter disappointment for many Democrats for this and other reasons during his first two years in office.

The result was simple; the Republicans took the US house in 2010, and reduced the Democrats majority in the US senate. The corporate press lied to us and said this was normal. In fact, it was anything but normal.

Franklin Delano Roosevelt (FDR) was elected president in a landslide in 1932, as the Great Depression rolled along. The Democrats also enlarged their numbers in the US senate, from 48 in 1930 to 60 in 1932. And the Party took control of the US house that year, with a massive 313 members, compared to only 117 Republican representatives.

FDR took his job seriously, established the New Deal; he worked to end the Great Depression, but he also worked to curb the economic and political power of the wealthy. FDR came from a rich family, but then, he wasn’t called a “traitor to his class,” for nothing.

So what happened in the elections of 1934? With a president and congress working for all the people, rather than a tiny wealthy minority, as has been the case with Obama, the Democratic Party increased its numbers in the senate to 69, and 322 members in the US house.

What happened under President Obama? Well, many members of the political establishment, such as Wall Street Senator Ron Wyden, worked harder and harder to deliver more and more financial goods for the corporate establishment at the expense of the 99 percent.

In 2012, the Republicans gained more seats in the US house, 242 to 192. The Democrats, along with two independents who caucus with the Democrats, still held the US senate, but their majority was reduced to 53.

As the rich got richer under Obama and the Democrats, as their power and influence dwindled due to their obvious ties to Wall Street, and as the TPP became more well known through leaked documents, a larger section of the Democratic base stayed home during the 2014 elections.

In 2014, the Republicans swept to commanding majorities in the senate (with 54 seats) and the US house (247 seats compared to 188 Democratic representatives). The base stayed home, and most likely, permanently.

The Democratic leadership is rapidly becoming the leader of nothing, since the Democratic Party base is rapidly evaporating with every income redistribution scam the Party leadership can concoct.

Instead, the base is rallying to Bernie Sanders, while abandoning the latest Wall Street Democratic presidential candidate, Hilliary Clinton. She refuses to mention anything about the TPP lately, although she has publicly supported it in the past. Around election time it’s best to stay mum about her TPP position since getting their jobs sent overseas isn’t very popular with the Democratic base, what’s left of it anyway.

The Democratic leadership has only one thing to sell Wall Street; government power. The Democrats need to win elections in order to offer this product to Wall Street, and it needs votes in order to achieve these aims. But nowadays, votes are something in short supply for the Party the more they sell government favors to their Wall Street parasite friends.

The Trans Pacific Partnership has galvanized the base against the Party more than ever before. The base is rallying to independent presidential candidate Bernie Sanders, who looks a lot like what Democrats once stood for.

The TPP most likely means permanent minority status for the Party, and likely extinction in the future.

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