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Posts Tagged ‘The rigged Game: Corporate America and a People Betrayed’

According to the Economic Policy Institute, “The state employment and unemployment figures for October, released today (Dec 4, 2015) by the Bureau of Labor Statistics, were slightly more encouraging than the previous few months. Job growth remained steady in most states and unemployment rates ticked down slightly more, on average, than was the case heading into fall. Still, the U.S. labor market is far from fully healed. In fact, this month’s report marks something of a bittersweet milestone: there are now 25 states that have reached their pre-recession unemployment rates. Only 25 more to go.

These statistics understate the level of unemployment by a fairly hefty margin. The number of full time jobs are at a low level not seen since 1980, when the economy and population were about half of what they are now.

These sobering statistics reveal that this is the worst economic expansion in US history for the middle class. It also is following a trend. The second worst economic expansion was the previous one. As predicted in The Rigged Game: Corporate America and a People Betrayed, the impacts of the next recession will be longer and deeper for the declining middle class, as well as for the working and poor classes. That’s because millions of jobs are being shipped overseas, and the difference between the old US wages and the new lower foreign wages goes straight into the pockets of the super rich via higher corporate profits, rising share prices, and surging dividends. That’s precisely why and how the 1 percent have stolen over 37 percent of all income produced in the United States in 2015, compared to 8 percent in 1980. Those figures are also why job and wage growth are the worst of any economic expansion in US history.

The 99 percent received only 63 percent of all the income in 2015, compared to 92 percent in 1980. This is why demand for goods and services is slack in 2015 compared to 1980, which is precisely why job growth is pathetic more than six years after the last recession ended. These figures are also why the stock markets have surged over the same period. The rich have used their ill gotten gains to bid up the price of stocks and bonds. The price for politicians has also surged, which is why the rich also heavily invest in politicians, which is why the rich have gotten richer at the expense of the 99 percent.

For example, Wall Street senator’s Ron Wyden, Mitch McConnell and Orrin Hatch have led the charge to ship jobs overseas, and redistribute income and wealth from the 99 to the 1 percent using government power. Nowadays, these scammers for the one percent are championing the Trans Pacific Partnership, the largest income and redistribution scam in US history, although it’s falsely marketed as a trade treaty. If this treachery passes congress, anticipate the middle class, currently 50 percent of all adults (down from 61 percent in 1970), will shrink down to 35-40 percent, and the rich will reach a milestone of stealing 50 percent of all US income by 2017, thanks to their henchmen in congress.

As for the report by the Economic Policy Institute, from July to October, 37 states and the District of Columbia added jobs, with Idaho (+1.5 percent), Nebraska (+1.2 percent), and Arizona (+1.1 percent) posting the largest percentage gains. The gains in Idaho and Arizona exemplify the strong growth experienced in a number of western states of the past year. Since October of 2014, states in the West—particularly those off the coast, such as Utah, Idaho, and Nevada—have had the strongest job growth nationwide. Job totals fell in 13 states from July to October, although only North Dakota’s (-0.7 percent) and Louisiana’s losses (-0.3 percent) seem indicative of a trend.

Unemployment rates fell in 40 states plus the District of Columbia since July. The largest reductions were in Missouri (-0.8 percentage points), South Carolina (-0.8 percentage points), Mississippi (-0.6 percentage points), New York (-0.6 percentage points), Ohio (-0.6 percentage points), South Dakota (-0.6 percentage points), Virginia (-0.6 percentage points), and West Virginia (-0.6 percentage points).”

Check out the whole story by clicking on the following link.

How Strong in the US Economic? Six years after the end of the last recession, unemployment is still higher than it was before the recession–Economic Policy Institute

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US Senator of Wall Street Ron Wyden wants to eliminate your voting rights, and redistribute your income to the 1 percent. And he knows exactly what he’s doing, as you can tell by the film below. He doesn’t even deny the accusations on this matter when confronted by a citizen of Oregon at a town hall in January 2015. He simply avoided the answer to the question over six boring minutes.

The Trans Pacific Partnership (TPP) will steal your voting rights on many issues. It will also redistribute massive amounts of income from the 99 percent, and stuff that money straight into the pockets of the 1 percent. Wall Street Senator Ron Wyden knows this, and yet, he was the right hand man of President Obama to hustle the TPP out of the Senate Trade and Finance Committees. He is also the person who pushed Fast Track Authority through the US senate. Fast Track forces congress into an up or down vote on the TPP, limits debate, and stops the filibuster from being implemented when the TPP comes up for a vote in the US Senate. The final version of the TPP was introduced to congress a week or so ago, and the text of this international income and voting rights redistribution scam are being reviewed.

We know, as has Wall Street and its senator, the TPP will unconstitutionally allow foreign corporations to challenge US laws that the management of these corporations deem to negatively impact their alleged future profits. Such cases will be tried in secret corporate established tribunals.

If the citizen’s of a state or county vote to establish mandatory GMO labeling laws, for example, and a GMO company decides that this will negatively impact their future profits, that company can sue the state in Wyden’s secret tribunals. If the company wins, the state will have two options; pay the difference between what the company says its future profits if the law didn’t exist, and what the profits were before the law goes into effect, or rescinding your voting rights by eliminating the law.

In other words, your vote will be rescinded, or you will need to pay a foreign corporation every year in perpetuity to enact such a law.

So if a company is selling a gasoline additive, and poisoning the ground water of a state, and killing people with it, and the state legislators or the voters decide to eliminate the poison from their state, the same financial situation will crop up. Be poisoned and in the process lose your voting rights on the issue, if you lose in the secret tribunal, or pay forever a foreign corporation to exercise your right to vote, which is nothing more than an illegal and unconstitutional poll tax in perpetuity.

A US trade treaty can override US law, but only if it receives 67 votes in the US Senate. That’s why the North American Free Trade Agreement (NAFTA) is legally called an agreement, rather than a treaty. NAFTA didn’t get 67 votes in the senate. Don’t ask me why the US Supreme Court has ruled that an agreement between two nations is not a treaty, but it has ruled this way, and don’t ask me why foreign corporations are allowed to sue state and local governments in NAFTA’s secret tribunals, since clearly such a process is overriding US laws, and NAFTA only received 62 votes in the senate. Okay, it’s called the corporate takeover and corruption of the US supreme court.

Regardless, that’s how Wyden is intending to illegally steal your right to vote, and all on behalf of his Wall Street masters. This year he has brought the TPP to the brink of a vote in the US Senate and the US House of Representatives. It’s time for folks to start calling their senators and representatives.

Only an insane or totally corrupted person would want to continue following the same trade policies that have redistributed massive amounts of income and voting rights from the 99 to the 1 percent and brought us to the most massive and destabilizing income inequality and historically high trade deficits in US history. Take your pick. Are the supporters of this income redistribution scam insane or corrupt?

As an aside, and as a final note, since 2009, the 1 percent has stolen 95 percent of all US income growth. In 2008, the 1 percent stole 21 percent of all income produced in the USA, up from 8 percent in 1980. This year the 1 percent is stealing 37 percent + of all the income produced in the United States. What do they do with that money? They corrupt your politicians and Supreme Court justices, and the legislation that flows from the US congress, and the white house. In other words, that money is used to rig the economic, political and financial games against the 99 percent.

Think about these numbers. They mean that the 99 percent went from earning 92 percent of all US income in 1980, to 79 percent in 2008, to 63 percent in 2015.

Do you feel like your working more and earning less? Where has your retirement gone? Where are the jobs? Why haven’t the 99 percent received a raise in pay when factoring inflation since 1980? Why are housing prices so high? The above numbers are the answers to every one of the these questions and more, and Wall Street Senator Ron Wyden is one of the main culprits as to why these negative things are occurring.

As for how Wall Street Ronnie plans to steal your money, see what-the-corporate-new-media-refuses-to-tell-the-public-about-the-trans-pacific-partnership-its-a-massive-income-redistribution-agreement-that-will-drive-the-middle-class-further-into-poverty–JohnHively.wordpress.com

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The governors of the Federal Reserve Bank voted to keep interest rates at historic lows in their September 17, 2015 meeting. The bank has not raised interest rates in nearly a decade. Lucky us, or maybe unlucky us.

Chairwoman Janet Yellen cited a number of reasons why the bank decided to keep rates low. She mentioned, for example, the weakness of manufacturing in China.

However, she didn’t mention that nearly 50 percent of US manufacturing is done in China, which, quite naturally, indicates a slowing down of US outsourced manufacturing, which certainly impacts the US. Like a good politician, she also did not mention that the evil US trade deficit is fueled by US manufacturers exporting jobs overseas, like Microsoft, Apple, Nike and Adidas. These and hundreds of other companies manufacture their products in China and elsewhere, and export their stuff to the US.

a-group-of-economists-wrote-an-open-letter-in-favor-of-janet-yellen-and-the-list-of-names-is-stacked

This is precisely and the only reason why the US has a trade deficit. The US trade deficit, in other words, is with US job exporters, not with China, Pakistan, Mexico or elsewhere.

Anyway, keeping interest rates low was a good thing for the US economy. Typically, the Fed waits to raise interest rates until just after the US economy begins to slide into recession.

That process begins when US corporations see a slowdown in their earnings growth, in the aggregate. These businesses begin to lay people off, which jacks up their profits. Perhaps the folks running the Fed take this as some sort of sacred signal that everything is all right. However, laying enough people off throughout the economy ignites recessions in the process of jacking up those profits, because the demand for goods and services slackens, jobs and profits decline, and a recession begins even while corporate earnings expand.

This is why I mentioned the slowdown of Chinese manufacturing, which in all likelihood, represents something of a slowdown of US manufacturing abroad. Profit growth has been shaky the last two years, though still growing in fits and spurts with sudden quarterly declines followed by rapid growth.

In other words, the US and world economies are still quite weak, especially since the rich have stolen 95 percent of all income growth in the US since 2009, an historic high by a wide margin. This has meant sluggish US and world economic growth since the more money the 1 percent steal in the US and elsewhere, the weaker the demand for goods and services by the 99 percent.

Yellen has the brains to understand all of this. This is likely why the Fed has kept interest rates at historic lows for years. To maintain their standards of living, the 99 percent had to keep borrowing because they haven’t gotten a raise in 35 years on average and in real terms. Raise interest rates and the demand for goods and services begins to die.

Raising interest rates will likely be the straw that sends the world economy into the monstrous fangs of the biggest economic crisis since the Great Depression. This crisis may already be in its early less visible stages.

Not a single world leader has learned the lesson from the last Recession. The current US economic expansion is fueled by the same artificially created housing and stock market bubbles as the last recession. Wall Street executives are calling the economic shots in the White House, on Capital Hill and the US Supreme Court. That’s why nobody who could do anything did squat about the corrupt forces that brought about last recession, and now the bill is coming due.

The last recession was the worst since the Great Depression. The next one, as I have pointed out in my book, The Rigged Game: Corporate America and a People Betrayed, will be far more hideous.

The Fed has literally no tools to fight off this coming Great Depression, but it will print trillions of dollars to save billionaires and others from their foolish investment decisions. See breakdown-of-the-26-trillion-the-federal-reserve-handed-out-to-save-rich-incompetent-investors-but-who-purchase-political-power–JohnHively.wordpress.com

The federal government will be forced to expand the deficit, and instead of having 48 million people permanently on food stamps, the US will have 60 to 100 million, unless the madness of redistributing income from the 99 to the 1 percent via job exporting trade treaties, unsustainable and illogical immigration policies (both legal and illegal, HB1 visas), and privatization scams.

Much of this can be reversed simply by amending income redistribution schemes known as international trade agreements, limiting immigration by restricting the flow of people moving into the USA at least until wages begin to rise, enforcing current immigration laws, and putting a halt and reversing many privatization follies.

All three of these policies have stolen jobs from American citizens, while enriching the politically and financially affluent in the process, all at the expense of people who produce goods and services.

Of course, that is precisely what the corrupt US government (all three branches), and both corrupt major political parties, have been driven to do by the money unleashed in the political markets since and because of the Reagan tax cuts for the rich.

The ultimate end game of Reaganomics is coming to its ugly conclusion.

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