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Posts Tagged ‘Wall Street’

Adding to the mountain of statistical evidence showing the severity of U.S. inequality, an analysis by of the United States Federal Reserve Bank showed that the top one percent of Americans have gained, or rather stolen using political and media corruption, $21 trillion in wealth since 1989 while the bottom 50 percent lost $900 billion.

Matt Bruenig, founder of the left-wing think tank People’s Policy Project, broke down the Federal Reserve’s newly released “Distributive Financial Accounts” data series and found that, overall, “the top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing, meaning they have more debts than they have assets.”

Wealth is made up of assets, such as stocks, bonds, and houses. Income is the money that comes to you either via government programs, your jobs, or from your assets, such as dividends.

The growth of wealth inequality over the past 30 years, Bruenig found, is “eye-popping.” This income and wealth inequality has been brought about by the political corruption of all three branches of the United States government by the 1 percent using their control of both major political parties.

“Between 1989 and 2018, the top one percent increased its total net worth by $21 trillion,” Bruenig wrote. “The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period.”

Much of the increase in inequality is due to international trade agreements, which have allowed U.S. corporations to export millions of American jobs to third world nations. The difference between the old higher US pay and other compensation goes straight into the pockets of the 1 percent via higher corporate profits, dividends and share prices.

This suggests you ought to vote for Bernie Sanders or Elizabeth Warren for presidents.

Wall Street executives already have Joe Biden and Donald Trump, along with the corrupt corporate wing of the United States Supreme Court, and such US Senators as Ron Wyden and Mitch McConnell tucked away in their back pockets. These folks do not represent you.

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The billionaires who own the Democratic Party are preparing to sit out the presidential campaign fundraising cycle, and have threatened to back President Trump if Senator Elizabeth Warren wins the party’s nomination. We know where the loyalty of the billionaires who control the Democrat Party lie, and it is with their comrades in arms, the billionaires who own the RepubliCon Party.

The billionaires that control both major political parties work hard using their news media and talking heads to get Democratic and Republican voters to side with their party and argue with one another about social issues, such as abortion, gun control, or whether or not transgender bathrooms should have urinals, and whether or not Albus Dumbledore of Harry Potter fame is gay or not, and whether or not Santa Claus should be depicted as transgender or not, rather than talking about income, wealth and the political inequality the billionaires, their politicians (such as Wall Street Senator Ron Wyden) and their Supreme Court have created, and how the billionaires have rigged and corrupted the democracy we live in, while simultaneously working together to financially rob and rape the 99 percent of both Parties in whatever way possible so long as it makes them richer in the process.

The billionaires who control the Democratic Party have already supported President Trump on a number of issues, such as tax cuts for the rich.

Warren tweeted in response to the threat, “I’m fighting for an economy and a government that works for all of us, not just the wealthy and well-connected. I’m not afraid of anonymous quotes, and wealthy donors don’t get to buy this process. I won’t back down from fighting for the big, structural change we need.”

In recent weeks, CNBC spoke to several high-dollar Democratic donors and fundraisers in the business community and found that this opinion was becoming widely shared as Warren, an outspoken critic of big banks and corporations, gains momentum against Joe Biden and Bernie Sanders in the 2020 race.

What CNBC did not say was that the vast majority of U.S. citizens need a new Franklin Delano Roosevelt as United States president in order to stave off the predations of the billionaires who own both major political parties, as well as the corrupt/corporate/conservative wing of the United States Supreme Court.

One Democratic Party senior private equity executive said, “You’re in a box because you’re a Democrat and you’re thinking, ‘I want to help the party, but she’s going to hurt me, so I’m going to help President Trump.’” This billionaire spoke on the condition of anonymity in fear of retribution by party leaders. The executive said this Wednesday, a day after Speaker Nancy Pelosi announced that the House would begin a formal impeachment inquiry into Trump.

During the campaign, Warren has put out multiple plans intended to curb the corrupting influence of Wall Street on government, both major political parties, and the United States Supreme Court, including a wealth tax. In July, she released a proposal that would make private equity firms responsible for debts and pension obligations of companies they buy. The billionaires surely do not want that. Trump, meanwhile, has given wealthy business leaders a helping hand with a major corporate tax cut and by eliminating regulations.

Warren has sworn off taking part in big money fundraisers for the 2020 presidential primary. She has also promised to not take donations from special interest groups. She finished raising at least $19 million in the second quarter mainly through small-dollar donors.

Trump, has been raising hundreds of millions of dollars, putting any eventual 2020 rival in a bind as 20 or so Democrats compete for their party’s nomination.

Trump’s campaign and the Republican National Committee have raised over $100 million in the second quarter, and a record $125 million in the third quarter. Most of that came from wealthy donors who gave to their joint fundraising committee, Trump Victory. In August, the RNC raised just over $23 million and has $53 million on hand.

The Democratic National Committee have struggled to keep up. The DNC finished August bringing in $7.9 million and has $7.2 million in debt. CNBC decided not to mention this is because Democratic grassroots voters are throwing tens of millions of dollars to the Warren and Bernie Sanders campaigns.

Biden, who has courted and garnered the support of various wealthy donors, has started to lag in some polls. The latest Quinnipiac poll has Warren virtually tied with the former vice president. Biden was one of three contenders that saw an influx of contributions from those on Wall Street in the second quarter.

The business community’s unease about Warren’s candidacy has surged in tandem with her campaign’s momentum. CNBC’s Jim Cramer said earlier this month that he’s heard from Wall Street executives that they believe Warren has “got to be stopped.”

Some big bank executives and hedge fund managers have been stunned by Warren’s ascent, and they are primed to resist her. Ultimately, this means they intend to resist the will of the vast majority of United States citizens.

“They will not support her. It would be like shutting down their industry,” an executive at one of the nation’s largest banks told CNBC, also speaking on condition of anonymity. This person said Warren’s policies could be worse for Wall Street than those of President Barack Obama, who signed the Dodd-Frank bank regulation bill in the wake of the 2008 financial meltdown.

Yet before Obama was elected, his campaign took over $1 million from employees at Goldman Sachs, according to the nonpartisan Center for Responsive Politics.

A hedge fund executive pointed to Trump’s tax cut as a reason why his colleagues would not contribute or vote for Warren if she wins the nomination.

“I think if she can show that the tax code of 2017 was basically nonsense and only helped corporations, Wall Street would not like the public thinking about that,” this executive said, also insisting on anonymity.

This really means something simple: if you want to vote for your interests, as well as the interests of the vast majority of United States citizens, vote for Elizabeth Warren or Bernie Sanders. If you want to vote for the interests of the billionaires’ vote for Joe Biden.

Billionaires Rise Up Against Elizabeth Warren

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Former United States Vice President Joe Biden announced that he was entering the 2020 Democratic presidential primary last week. Biden is the well-acknowledged Democratic National Committee (DNC) establishment candidate, which means he is the candidate of Wall Street, and not of the 99.9 percent of United States citizens.

Wall Street investment bankers, such as hedge fund managers who steal hundreds of millions of dollars per year in compensation and call it earnings, already completely own the Republican Party and most of the Democratic Party. However, they do not control the progressive wing of the party, which is represented by Bernie Sanders, Elizabeth Warren and several others running for the Democratic Party nomination.

In fact, Biden has entered the race in order to cut those candidates off at the pass. The news media, which is controlled by billionaires, has also been doing its best to keep the primary race news centered around Biden. Even before he announced his candidacy, the media kept Biden’s name in the spotlight by continuously including the then noncandidate in polls, and pointing out how high he was in the polls.

Bernie Sanders wants higher taxes on the rich, taxes on Wall Street transactions, the curtailment of Wall Street control over the United States federal government acting solely on behalf of the rich, the $15 minimum wage, Medicare for All, a reduction in wealth and income inequality, an end to exporting United States jobs to cheap labor nations, etc…. Biden, of course, is against all of these.

Essentially, the United States government is no longer Democratic; it has been transformed into an Oligarchy, which is control by a small group. Biden represents that small group of people, as does, US Senator Mitch McConnell, as well as the rest of the Republican Party.

If you want to be represented in the United States government, and you want to restore democracy in government, vote Bernie or Elizabeth Warren. Biden is not your candidate.

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Bernie Sanders announced he is running to be the Democratic Party nominee for United States president in 2020. The billionaires who control the national news media immediately began the negative coverage of Sanders.

The New York Times, for example, immediately published a story about how incompetent the Sanders campaign had been in getting its message out to African-American voters.

CNN broadcast a story about how it will be more difficult for Sanders to win the nomination in 2020 than it was in 2016. The argument is that Sanders is now running against women, suggesting in the process that Hillary Clinton, the most politically powerful female in US political history, was not a woman. Or perhaps the folks at CNN decided to overlook the fact that Clinton was and still is a woman, who raised more money and received more votes while running for president than anybody in United States and perhaps world history.

Expect more negative stories and broadcasts about Sanders. The billionaires and Wall Street executives fear Sanders more than any other candidate, with the possible exception of Elizabeth Warren.

Expect Joe Biden to become the billionaire/Wall Street Democratic candidate and to enter the race relatively soon. The big money will be behind Joe, as well as the corporate news media. We can expect no less from the billionaires in the race to put a man or a woman of the people in the white house. They will try to stop Sanders, Warren, or any progressive, for that matter.

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Elizabeth Warren announced yesterday that she was forming an exploratory committee to determine whether or not she should make a run for the United States presidency.

Meanwhile, as of last week, former Wall Street Senator Claire McCaskell has been making the rounds on national television shows to voice complaints against newly elected United States Congresswoman Alexandria Ocasio-Cortez of New York. She does not mention Ocasio-Cortez by name. Claire simply alludes to her existence, and she is very critical of what that existence stands for. As a Senator, McCaskell’s voting record shows she was clearly controlled by Wall Street money. For example, McCaskell successfully co-authored a bill that rolled back regulations on Wall Street investment firms. Ocasio-Cortez is against relaxing regulations against Wall Street.

This suggests the Democratic Party Leadership, which Wall Street controls, is using McCaskell as a high profile figurehead in its attack against the progressive insurgency within the Democratic Party. Ocasio-Cortez is the most visible member of the progressive wing in the US House of Representatives. Elizabeth Warren is another high profile progressive, and perhaps the most anti-Wall Street of the bunch.

Much like Warren, Cortez campaigned on issues such as the $15 minimum wage, Medicare for All, free college for all, and the rest of the Bernie Sanders platform. McCaskell was against all those things, all of which would cut into corporate and Wall Street profits if enacted.

McCaskell had the audacity to suggest progressive politics was a vote-losing strategy, and this is why the Democratic Party has been losing elections at all levels of government for over a decade. In reality, more and more grassroots Democratic Party voters realize the party leadership is controlled by Wall Street, and the party has abandoned its progressive past, which is represented by such historic legislation and programs as the New Deal, social security, minimum wages, shared prosperity, etc…. This is why Democrats have lower turnouts and have lost so many elections. The party has not represented working people for four decades. McCaskill is a perfect example of this.

While Missouri citizens voted McCaskell and her Wall Street agenda out of office last November, 68 percent of them voted to increase the state’s minimum wage. The initiative was heavily supported by small business owners.

McCaskell may be voicing her own opinions, but it is just as likely that she is being used by Wall Street controlled Democratic Party leadership as a spearhead in their war against the progressive movement within the Democratic Party. This may not only be the beginning of the war against Ocasio-Cortez, but part of a grander strategy leading up to the conclusion of the 2020 presidential election.

Several progressive Democrats are reportedly looking at that election, which a progressive should easily be able to win if that candidate can get through the Democratic party primary. Besides Warren, Vermont’s U.S. Senator Bernie Sanders and Oregon’s U.S. Senator Jeff Merkley have also been mentioned as possible candidates.

Wall Street’s opening shots in the war of words, lies, and smears have likely been launched against the progressive movement with McCaskell’s December tour of news shows. The billionaire owned and controlled corporate news media will close ranks behind Wall Street’s point-of-view, which means it will paint progressives as negatively as possible while attempting to create a false impression of impartiality, just like when Bernie Sanders ran for president against Wall Street’s chosen candidate, Hillary Rodham Clinton.

This suggests the battle for the soul of the Democratic Party has begun in earnest and in preparation for the 2020 presidential election. Expect Wall Street’s favorite, Hillary Clinton, or Joe Biden, to be the Wall Street Democratic party presidential candidate choice.

As for Elizabeth Warren; she could and should be the first female president of the United States in 2020.

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‘He was a grateful man…just not in a good way.’

The citizens of Florida may have dealt President Trump a death blow to any reelection success when they voted yes to Amendment 4, which restored voting rights to 1.5 million former felons. Naturally, this proved to be a great disturbance within the minds of the Republican Party leadership who prefer to reduce the number of people voting, which enhances their opportunities to win, along with electoral fraud, such as rigging voting machines.

According to Vox, “Black people, who are disproportionately arrested and incarcerated, will benefit the most. In 2016, more than 418,000 black people out of a black voting-age population of more than 2.3 million, or 17.9 percent of potential black voters in Florida, had finished sentences but couldn’t vote due to a felony record, according to the Sentencing Project. (Again, this includes some people convicted of murders and felony sex offenses.)”

Donald Trump won the state of Florida on November 8, 2016, with a plurality of 49.0% of the popular vote that included a 1.2% winning margin over Hillary Clinton, who had 47.8% of the vote.

Amendment 4 might very well turn the presidential election to the Democratic candidate, especially if that candidate is Bernie Sanders, Elizabeth Warren, or Jeff Merkley, all of whom are progressive Democrats, the antithesis of such corporate and Wall Stree Democrats as Hillary Clinton and Ron Wyden.


The final word about the election is that it was not a blue wave. Instead, it was a progressive wave against the corruption of both major political parties by the billionaires and major corporations. This suggests that the end of billionaire rule in the United States may be nearing an end, with the restoration of democracy clearly in sight.

The only thing missing is something to provide a big push, such as a major recession, but that is coming. It is just a question of when.

Once both houses of Congress are restored to the people, only the corrupted US Supreme Court will remain in the hands of the billionaires and their corporations. The corrupted justices (John Roberts, Brent Kavanaugh, Samuel Alito, Neil Gorsuch, and Clarence Thomas) will continue to make rulings against the U.S. Constitution whenever the financial interests of the billionaires run up against it, and whenever the interests of the 99 percent may reduce the continued accumulation of wealth, income and political power on the part of the billionaires, and at the expense of the 99.9 percent.

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It looks as though progressive, anti-Wall Street, pro main street, US Senator Elizabeth Warren of Massachusetts is getting ready to make a run to become the next United States president. She has always been the champion of the 99 percent and the scourge of Wall Street criminals.

Warren recently took a DNA test showing she has a small percentage of native American running in her bloodstream. For years President Trump mocked Warren’s claim “that family lore says I have Cherokee blood in me.” Trump, true to his immaturity, has always ridiculed her by calling her Pocahontas. This suggests the president and his billionaire backers are terrified of her, and the polls show why he should be scared of her.

During the presidential primaries in 2016, Trump was the only man standing in the Republican field, while Bernie Sanders was still running hard against eventual nominee and Wall Street favorite Hilliary Rodham Clinton. Polls showed Clinton consistently beating Trump by 5 to 10 points at the time, Meanwhile, polls showed progressive candidate Sanders wiping out Trump by 10 to 20 points.

This suggests a significant number of Republican voters would have preferred Sanders over Trump.

In the actual election, Clinton beat Trump by four million votes but lost the electoral college and the presidency. Warren would likely defeat Trump by a greater amount than Wall Street Hillary.

Trump’s popularity is running at 41 percent. Warren, assuming she develops name recognition and a funding machine as Sanders did, would likely wipe Trump out.

However, getting out of the primaries will be tough for Warren. For starters, the Wall Street billionaires who control the Democratic Party, and in particular its leadership; the Democratic National Committee (DNC), would do just about anything to stop a progressive candidate such as Warren, Bernie Sanders or Oregon’s US Senator Jeff Merkley from ever winning the Democratic primary. Wall Street billionaires are terrified of Warren because she actually wants to put an end to business as usual, which is largely based on corruption.

Should Warren win the Democratic presidential primary in 2020, her most bitter foes will be Trump, the Republican Party, the DNC, the Koch brothers, and almost every living billionaire, and perhaps every living billionaire.

Not since President Franklin Delano Roosevelt will the forces of corruption be so united against one candidate. Want proof? The reliably DNC ally Huffington Post has run stories two days in a row denigrating Warren releasing her DNA test results. The last thing the billionaires want is a high visibility presidential candidate talking about bread and butter issues such as forty years of stagnant wages, massive income and wealth inequality, as well as political corruption, Supreme court corruption, and Wall Street corruption.

The attacks on Warren will come from all sides. The big boys are utterly terrified of her. This is precisely why both the Huffington Post, the New York Times and CNN, bastions of the DNC and its billionaire backers, have viciously attacked Warren for her DNA test. Let the battle begin.

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