Posts Tagged ‘Robert Reich’

Texas and Kansas are the homes of low taxes, low wages and fewer regulations. California is the state of high taxes (especially on the rich), high wages and more regulations. According to conservative economic gospel, Kansas and Texas should be outperforming California.

However, the reality is the opposite. California easily outperforms Kansas and Texas and any other states that are low tax, low wage, and fewer regulations. Robert Reich explains why in the video above.

On the other hand, Minnesota is a higher tax state than Wisconsin. Guess which one is performing the best. You bet. It’s Minnesota.

Forbes magazine listed Minnesota No. 9 in its 2014 ranking of best states for business, even though it had a higher tax rate than Wisconsin. In this same ranking, Wisconsin rated number 32.

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There is a great right-wing Republican conspiracy to rewrite history, And there is a Democratic Party conspiracy to rewrite history. All of this is to misinform us, to divide the 99 percent, making it easier to financially rape us on behalf of the 1 percent.

The first duty of each major political party is to listen to their respective voter bases and tell them what they want to hear in terms of social issues. The second duty of the respective leadership of each political party is to reach relatively across the aisle to each other, and use the levers of government to financially rape and pillage the 99 percent on behalf of the 1 percent.

The Trans-Pacific Partnership (TPP), a massive income and wealth redistribution scam the political big boys called an international trade agreement was a case in point. The TPP had virtually nothing to do with trading goods and services.

The leading parasites of the Republican Party want us to believe that fewer governmental regulations and tax cuts for the rich will unleash greater prosperity. And it does, but almost exclusively for the rich, and exclusively at the expense of the rest of us. The leadership doesn’t want you to know that the big money boys exercise quite a bit of market and political power, and they use this to rape and pillage the rest of us financially.

When this era’s tax cuts for the rich and fewer regulations began in 1981, the rich went from capturing 8 percent of all the income in the USA to 37+ percent today. The US middle class has declined from 61 percent of the population in 1970 to 49 percent today. That’s what occurs when the government redistributes income from the 99 to the 1 percent. But the Republicans are not alone in causing these numbers. Far from it.

The Democratic Party has a different voter constituency than the Republican Party, such as labor unions. So the Democratic leadership has unleashed a rainstorm of misinformation over the last several years about how technology is destroying jobs, thereby creating a job shortage. Economists have been predicting this result for over two hundred years, and they’re still wrong. What we’ve discovered over those 20 decades is that technology creates more jobs than it destroys, but the leadership doesn’t want us to know this.

Think about how the computer industry displaced the typewriter industry and created tens of millions more jobs than the old industry supported. The same thing is also true of the auto industry transplanting the horse and buggy manufacturers. Notice nobody is suggesting that technology is replacing workers in China, Vietnam or Germany, for that matter. To see how this propaganda works, check out A Review of Robert Reich’s AfterShock–JohnHively.wordpress.com

The news media always falls in line and prints whatever lies the leadership’s present, depending on the biases of the editors, and their advertisers. Their financial lifeblood is advertising money, and it comes from the big boys. Of course, they need to have viewer and or readership numbers or no corporations would pay for advertising. So, for example, most of the New York Times readers are liberals. Thus, the Times editors make certain to appeal to their readers on social issues, while supporting their corporate and political advertisers with make-believe, lies, and failure to report certain issues to their readers. The corporate news media whose readers possess a more conservative frame of mind follow the same formula.

The Democratic leadership, for example, and their allies point to technology as the primary culprit because the leadership has continuously supported exporting tens of millions of US jobs since Democratic President Bill Clinton caved into Wall Street and signed NAFTA. Wall Street has since prospered, while main street has been massively eviscerated, along with the American dream.

As corporate money has flooded higher education, this propaganda has also taken root in academia, but that is another story.

Like the Republican leadership, the Democratic leadership hides their real motives behind patently false propaganda in order to rape us financially. In the meanwhile, both leadership’s will issue proclamations about wars against women, and wars against Christmas, and rally the base around bathrooms for transgender people or wars against guns.

Don’t fall for this propaganda. Instead of remaining divided on social issues, unite on economic issues.

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You know the Wall Street Democratic Party Establishment has pulled together and is pulling no punches and hitting low in the clinches when New York Times syndicated columnist and Economics Nobel Prize winner Paul Kruger launches a diatribe against the senator from Vermont by feigning ignorance of Wall Street crimes and complicity in the last economic disaster.

This suggests the Establishment and its presidential candidate are worried stiff over Bernie Sanders beating Hillary Clinton in the remaining primaries and winning the nomination. Sanders is gaining momentum while the Wall Street candidate continues to lose it. More and more African-American voters, for example, are voting for Bernie the more they get to know him.

Krugman was corrupt enough to write:

“The easy slogan here is “Break up the big banks.” It’s obvious why this slogan is appealing from a political point of view: Wall Street supplies an excellent cast of villains. But were big banks really at the heart of the financial crisis, and would breaking them up protect us from future crises?

Many analysts concluded years ago that the answers to both questions were no. Predatory lending was largely carried out by smaller, non-Wall Street institutions like Countrywide Financial; the crisis itself was centered not on big banks but on “shadow banks” like Lehman Brothers that weren’t necessarily that big. And the financial reform that President Obama signed in 2010 made a real effort to address these problems. It could and should be made stronger, but pounding the table about big banks misses the point.”

Let’s begin with Lehman Brothers. It was always a big bank on Wall Street. Now Krugman’s calling it a shadow bank. What stupidity! Apparently, Krugman also doesn’t know that Goldman Sachs was shorting home mortgage backed bonds while selling them to investors. Beside that point, Robert Reich landed a series of knockout punches to Krugman’s insanity.

Reich writes:

1. The biggest Wall Street banks did indeed precipitate the crisis on Wall Street in 2008 because of their gambling in newfangled financial instruments and fancy derivatives even they didn’t understand.

2. Their size did make a difference because they were so interconnected with other financial entities both in the U.S. and around the world that they were “too big to fail.” Today’s biggest Wall Street banks are much bigger than they were in 2008.

3. Size also has a bearing on their political influence. The reason the Glass-Steagall Act was scotched by Bill Clinton’s administration, and the Clinton administration wouldn’t agree with the CFTC to regulate derivatives, had a lot to do with the influence of Wall Street over the Clinton administration and over Congress. The political power of the biggest players on the Street is even larger today – as evidenced by their capacity to whittle back significant parts of Dodd-Frank in the regulatory process.

4. Breaking up the biggest banks isn’t a radical idea. In fact, many experts – including the current president of the Federal Reserve Bank of Minneapolis (who’s a Republican and a former executive of Goldman Sachs), and the former head of the Federal Reserve Bank of Dallas — have called for exactly this.

5. Bernie’s other ideas — for a single-payer plan, and for free tuition at public institutions of higher education – are sensible, and also backed by many experts. It’s well-established that a single-payer plan would be far less costly and deliver far better care than our own system, which is based on private for-profit insurers. As to free tuition in public universities, we were well on the way to this goal in the 1950s and 1960s. It was and is a logical extension of free K-12 education.

I should like to point out that California had free college for resident’s until the federal government began redistributing income from the 99 to the 1 percent. So it has been done in the United States.


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Other reasons to vote for Bernie:

1. Honesty in government. We haven’t had an honest president since the great Jimmy Carter.

2. Sanders fights for main street, and always has. Hillary fights for Wall Street and large corporations, and always has.

3. Sanders has been completely honest with us.

4. Sanders will do no harm, while Hillary is chomping at the bit to do Wall Street’s bidding, which means screwing us over.

5. Sanders will try to restore the American dream, while Hillary will continue to do the bidding of Wall Street and continue policies that continue the American nightmare of the last thirty-five years that has seen record corporate profits, and massive redistribution of income from the 99 to the 1 percent so much that the middle class has been reduced from 61 percent of all adults to 50 percent today.

6. Sanders will champion policies that reverse the trend of the last and the percentage of total income produced in the USA has gone from

7. How’s that globalization thing going for you? The US middle class has shrunk, and so has the income of the 99 percent. The 99 percent earned 92 percent of all income produced in the USA in 1980, and now that figure is down to 67 to 77 percent, depending on whose numbers you use. Hillary has voiced support for the Trans Pacific Partnership (TPP), the largest international income redistribution agreement ever, falsely marketed as a trade agreement, 45 times and said she’s against it twice. Bernie has always said he’s against it. The TPP will ship millions of US jobs to China, and the 1 percent will pocket the difference between the old higher US wages and the new lower Chinese wages via higher corporate profits, surging dividends, and rising share prices. Hillary is for that by a count of 45 to 2.


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The United States is in the midst of an economic expansion, which happens to be the most sluggish in US history. Demand growth is at all time lows, or so it seems, yet the stock market bubble continues to expand outward, because massives amount of income and wealth are being legislatively redistributed from the 99 to the 1 percent at a rate never before seen in US history.

1 percent of the US population now receives 99 percent of all income growth, and 95 percent of all income growth since 2009. The rich received 8 percent of all US income in 1980, 21 percent in 2008, and now 37 percent. What have they purchased with their thefts?

More corruption of government and the moral and economic crisis we have today.

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According to former US Labor Secretary Robert Reich, “If the Trans Pacific Partnership is enacted, big corporations, Wall Street, and their top executives and shareholders will make out like bandits. Who will the bandits be stealing from? The rest of us.”

The TPP is “…being sold as a way to boost the U.S. economy, expand exports, and contain China’s widening economic influence.

In fact, it’s just more trickle-down economics.

The biggest beneficiaries would be giant American-based global corporations, along with their executives and major shareholders.

Those giant corporations initiated the deal in the first place, their lobbyists helped craft it behind closed doors, and they’re the ones who have been pushing hard for it in Congress – dangling campaign contributions in front of congressional supporters and threatening to cut off funding to opponents.

These corporations made sure the deal contains provisions expanding and protecting their intellectual property around the world, but notprotecting American jobs.”

Check out the rest of the story at the Christian Science Monitor Trans-Pacific-Partnership-is-more-trickle-down-economics-gone-wrong

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Knowing the truth can set you free. Knowledge of the forces that constrain you is the first step toward achieving freedom. Great spirits always encounter violent opposition from mediocre and bought off mouths and minds.

So here’s economic myths numbers four and five.

4. Myth: Free trade is good, but only if you’re rich.
Fact: International income redistribution agreements are falsely marketed as free trade agreements. These agreements are perhaps the biggest reason why the 99 percent receive only 66 percent of the income created in the United States nowadays, compared to 8 percent.

5. Myth: The United States is a democracy in which all the people are represented.
Fact: The United States is a plutocracy, which is a government of the rich, by the rich, and for the rich. At times in the past, the USA has had a national government that represented most of the people, but never all of the people. When this has occurred the rich only received 8 percent of national income. Today the rich steal 36 percent of the total national income.

In other words, income distribution is solely linked to political power. Whosoever has the gold makes the rules.

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