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Posts Tagged ‘Orrin Hatch’

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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The economic and political game is clearly rigged in favor of wealthy, and its getting worse. This is a recipe for economic disaster, and which has been closely followed by major Wall Street politicians, such as Ron Wyden, Barack Obama, Mitch McConnell, Orrin Hatch, and George W. Bush.

The richest are getting richer, and their doing so quickly, and at the expense of the rest of us. For the most part, control of the levers of political power is how they have gained their money. It’s that simple. The rich control the Republican and Democratic parties, and with them, they control all three branches of the federal government, as well as most state and local governments. And that’s just in the USA.

In early 2016 Oxfam reported that just 62 individuals had the same wealth as the bottom half of humanity. About a year later Oxfam reported that just eight men had the same wealth as the world’s bottom half. Based on the same methodology and data sources used by Oxfam, that number is now down to six.

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There is a reason why the rich, and in particular the super rich, continue to get richer. The politicians of both major political parties work as agents on behalf of their billionaire benefactors, whether its Republicans such as Mitch McConnell, or Democrats like Ron Wyden.

This is why the poorest half (and more) of the world has continued to lose wealth; and the very richest individuals—especially the top thousand or so—continue to add billions of dollars to their massive fortunes. Inequality deniers and apologists say the Oxfam methodology is flawed, but they’re missing the big picture. Whether it’s six individuals or 62 or 1,000 doesn’t really matter. The data from the Credit Suisse Global Wealth Databook (GWD) and the Forbes Billionaire List provide the best available tools to make it clear that inequality is extreme and pathological and getting worse every year.

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As of Feb. 17 of 2017, the world’s six richest individuals (all men) had $412 billion. Just a year ago, on March 1, 2016, the world’s six richest men had $343 billion. They’re the same men today, although slightly rearranged as they play “king of the hill”: Bill Gates, Warren Buffett, Jeff Bezos, Amancio Ortega, Mark Zuckerberg, Carlos Slim Helu (with Larry Ellison jockeying for position). The wealth of these six men increased by $69 billion in just one year.

According to a new report, which can be accessed below, the poorest 50 percent of the population has seen their share of wealth decline. And the richest 500 people own more wealth that the bottom 70 percent.

Six Men Own More Wealth Than the Bottom 50 Percent of the World’s Population–EcoWatch.org

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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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“The most common way people give up their power is by thinking they don’t have any.” ~Alice Walker

People Power Works! More and more people are fed up with the corruption of the Republican and Democratic establishments. Those two establishments have corrupted government at all levels in the United States to such an extent that the US federal government is now the most corrupt in the industrial world, and by a wide margin. And so more people than ever before are taking to the streets and voting against the candidates backed by Wall Street.

In 2016, the grassroots destroyed the plans of Wall Street executives and billionaire investors to redistribute income and wealth from the 99 to the 1 percent a number of times.

1. A grassroots campaign turned Bernie Sanders into serious candidate for US presidency, and likely will send him or Elizabeth Warren into the White House in 2020.

2. A tenacious cross-border, cross-sector progressive movement of movements stopped the Trans-Pacific Partnership (TPP) corporate power grab led by Wall Street drones Barack Obama, as well as Wall Street senators Ron Wyden, Mitch McConnell and Orrin Hatch.

3. Indigenous water protectors used nonviolent direct action to interrupt the Dakota Access Pipeline.

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The Trans-Pacific Partnership (TPP) is a corporate power grab, a 5,544-page document that was negotiated in secret by big corporations while Congress, the public, and unions were locked out.

Multinationals like Google, Exxon, Monsanto, Goldman Sachs, UPS, FedEx, Apple, and Walmart are lobbying hard for it. Virtually every union in the U.S. opposes it. So do major environmental, senior, health, and consumer organizations.

This agreement has virtually nothing to do with trade since tariffs between the twelve nations of the TPP are at historic low. This agreement is really about exporting jobs, raising prices and more bonuses for the 1 percent at the expense of the 99 percent.

The TPP will mean fewer jobs and lower wages, higher prices for prescription drugs, the loss of regulations that protect our drinking water and food supply, and the loss of Internet freedom. It encourages privatization, undermines democracy, and will forbid many of the policies we need to combat climate change.

The worst part is the Investor-State Dispute Settlement provision, which allows a multinational corporation to sue to override any U.S. law, policy, or practice that it claims could limit its future profits. Secret panels of corporate lawyers and corporate lobbyists will decide these cases. Their judgments cannot be appealed, not even to the Supreme Court.

This provision will override your votes on the state and local levels. In other words, President Obama and Wall Street Senator Ron Wyden intend to suppress your voting rights, along with most of the Republican Party led by Paul Ryan, Mitch McConnell and Orrin Hatch.

Though the Obama administration touts the pact’s labor and environmental protections, the official Labor Advisory Committee on the TPP strongly opposes it, arguing that these protections are largely unenforceable window dressing.

On behalf of Wall Street and rich investors throughout the United States, President Obama is planning to call for a vote on the TPP in the US senate and the US House after the elections in November. Obama signed the TPP, a despicable income and political power redistribution scam, months ago. Wall Street Senator Ron Wyden will likely introduce the TPP in the senate. Wyden is Obama’s and Wall Street’s attack dog in the US senate in their war against the middle class. He has voted to redistribute trillions of dollars from the 99 to the 1 percent over the course of the his career in congress.

To learn more about the TPP, check out Citizen’s Trade Campaign, and Public Citizen’s Global Trade Watch, Public Citizen. For labor-specific resources, try CWA, http://stopthetpp.org/, and the AFL-CIO, http://www.aflcio.org/Issues/Trade.

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Wall Street President Obama plans to unleash Wall Street’s Democratic Party attack dog against the middle class. Attack Dog Wyden will likely introduce the Trans Pacific Partnership (TPP) in the senate during the lame duck session, where it will likely pass.

The TPP is a 12 nation trade agreement that will redistribute trillions of dollars and significant political power, including stealing away many of your voting rights on the local and state levels, from the 99 to the 1 percent. That’s why Obama and Wyden are for this agreement.

The entire Republican Party leadership stands behind Obama on the TPP. Yes, Wall Street Senator Mitch McConnell and Wall Street Senator Orrin Hatch are counting on Obama. The TPP will likely pass through the senate, but it’s going to have problems in the US House of Representatives.

The American people are rising up against these income and political power redistribution agreements, which are falsely marketed as international trade agreements.

According to a new poll conducted jointly by Harvard University and Politco.com, “In a stunning reversal, a large majority of Republicans are repudiating their party’s traditional support for free trade, and falling sharply in line with nominee Donald Trump’s insistence that trade costs Americans more jobs than it creates.” Duh! Anybody think Wall Street and the super rich would want these agreements if they created more US jobs than they destroyed? The game is to lower the cost of labor so as to increase corporate profits, dividends and share prices.

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Strangely, grassroots Democrats who have opposed these agreements in the past are now more gullible than Republican grassroots members in some ways, while the Republicans can be more gullible in other ways. “The POLITICO-Harvard poll shows, 85 percent of Republicans say that free trade has cost the U.S. more jobs than it has created, compared to 54 percent of Democrats.”

The poll also showed the 59 percent of Democrats and only 20 percent of Republicans believe income inequality is a problem. Yes it is. Ask anybody from any third world nation. The 1 percent now steal about 36 percent of all income, up from 8 percent in 1980. That means the rest of us have less money with which to demand the goods and services necessary to power the economy, unless, of course, we use credit. Quite naturally, Americans have higher levels of debt than ever before. Anybody think that’s a problem?

According to the poll, some voters are going to cast ballots based on a candidate’s position on trade deals. Many Democrats will vote for Donald Trump for president, while also voting for their Democratic senate and US House candidates.

The polls findings also suggest Trump wiped out the other 16 Republican candidates for president this year since these trade scams were bigger issues with grassroots Republicans than for Democratic voters. This might also explain, in part, why Democrats failed to elect Bernie Sanders as their standard bearer.

The TPP will only make matter worse for the 99 percent. Just check out the links below.

The Trans Pacific Partnership–The Op-ed the corporate media doesn’t want you read–JohnHIvely.Wordpress.com

http://www.citizen.org/documents/TPP-USITC-Study-Press-Release.pdf

Read more: http://www.politico.com/story/2016/09/politico-harvard-poll-free-trade-trump-gop-228600#ixzz4LZlNPmyj
Follow us: @politico on Twitter | Politico on Facebook

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On Monday, May 8th, Bernie Sanders came to Sacramento California and spoke to an estimated 20,000 people. The corporate propaganda machine refuses to report this, as well as the fact that the Sanders phenomenon is growing. Sanders can still win the Democratic nomination.

What’s more, the Sanders campaign isn’t just about winning a nomination. It’s about building a people’s movement to fight back against the billionaires that control both major political parties. This comes at an important time in US history; a massive unprecedented economic meltdown is rumbling our way, just in time to rally a growing number of the dispossessed to join the campaign to take back the US government from the political hacks who are owned by the billionaires, toadies like Wall Street senator’s Mitch McConnell, Orrin Hatch, Ron Wyden, Charles Schumer, and Hillary Clinton.

As for how bad the recession will be and when it will strike see The Next Recession Is Going to Be a Big One! JohnHively.Wordpress.com

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