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Posts Tagged ‘Wall Street’

The corporate media consistently lies to us on behalf of the billionaires and has seemingly forever. A good example is Genetically modified crops (GMO’s). They were supposed to be safe and have higher yields than traditionally planted or organic crops.

Last year, a study by the United States National Academy of Sciences, Engineering and Medicine showed that GMO crop yields were less than many traditionally planted crops, such as rapeseed and sugar beets. Some GMO crop yields were about the same as traditionally planted crops, such as corn.

The corporate news media also claimed using GMOs would reduce the use of herbicides and insecticides, which is ridiculous since the GMO herbicides and insecticides are genetically placed into the GMO plants, and not sprayed outside the plant, and then you eat those bug and plant killers when you consume the plant. The folks of the corporate news media also don’t want you to know the information in the previous sentence.

When a bug bites into a GMO plant, the Bt toxin genetically placed into the plant kills the bug by swelling up its intestines until it explodes. The Ht toxin or herbicide placed into plants prevents weeds from growing near crops by killing them. You eat the Bt and the Ht toxins when you consume the crop.

In many cases, insects have adapted to the GMO Bt and Ht toxins and forced GMO farmers to use greater and stronger amounts of insecticides and herbicides. This is why herbicide use has grown in the USA, while insecticide use has stayed the same. Now if you count the pesticide genetically placed into GMO crops, it’s likely US insecticide use has grown. By way of contrast, in France, where GMO’s are not allowed to be planted, insecticide use has declined.

Herbicide use in the USA is the upper line, the lower line is herbicide use in Europe

“Safe” was the biggest corporate news media lie when it comes to GMOs. To this day they continue to express this lie to us, as do politicians of both major political parties. The Monsanto Corporation applied to get its GMO’s entered into the US food chain to the United States Food and Drug Administration (USDA) a couple of decades ago, which granted its request on the basis of Monsanto’s own unbiased (I mean that sarcastically) tests of its product on rats. It turns out the tests supposedly lasted all of three months, and the USDA failed to do any of its own testings. The USDA approved the GMO poison for the US food chain.

When an independent French study showed GMOs caused tumors in rats after eating GMOs for more than three months, the US corporate media establishment attacked the study, following the lead of the GMO corporations. Not once did a major US news outlet investigate to see if maybe Monsanto’s testers had a reason to study rats and GMO consumption for more than three months. See Scientist Who Discovered GMOs Cause Tumors in Rats Wins Landmark Defamation Lawsuit in Paris–Healthnut.com

GMO crops are less labor intensive than traditionally planted crops, and therefore cheaper to grow and more profitable. There lies the reality behind all the lies. The corporate news media doesn’t want to offend food advertisers, such as Safeway, Walmart, Albertson’s, Krogers, Nestle, Coca-Cola, Pepsi-Cola, General Mills and many more because they all use GMO’s to increase their profit margins, and keep their share prices higher than they would otherwise be.

In addition, of course, keeping us misinformed helps giant GMO manufacturers like Bayer, which is currently the owner of Monsanto, as well as the powerful Wall Street investment banks, such as Goldman Sachs, Citibank and JP Morgan Chase.

All of these corporations keep the pressure on the corporate news media to keep us uninformed and misinformed about many issues, such as GMOs, which have been linked to tumors, autism, obesity, allergies and many more health issues in humans. Keeping us misinformed and uninformed on behalf of billionaires, hedge funds, both major political parties, major investment banks and food manufacturers is, in fact, their job.

 

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On April 28 a “transcript was released from the most recent hearing at a federal court in Fort Lauderdale, Fla., on the lawsuit filed on behalf of Bernie Sanders supporters against the Democratic National Committee and former DNC chair Debbie Wasserman Schultz for rigging the Democratic primaries for Hillary Clinton. Lawyers for the DNC argued the DNC has a right to pick candidates in a back room.

The corporate press is doing its best to ignore this class action lawsuit alleging the Democratic National Committee (DNC) worked directly in conjunction with Hillary Clinton’s 2016 campaign to keep Bernie Sanders out of the White House. This lawsuit has been raging on in the courtrooms for months on end–and yet, most people have no idea of its existence, in large part thanks to the corporate media’s total lack of coverage.

The lawsuit alleges the Democratic National Committee, which is managed by Wall Street toadies who fear Bernie Sanders, worked side-by-side with the Hillary Clinton campaign to derail the Sanders challenge last year in the Democratic presidential primary. If true this violated the Democratic Party’s own charter, specifically Article 5, Section 4, which specifically states the DNC cannot work with a “single campaign to effectively choose who would win the Democratic ballot, the attorneys stated in the suit.”

According to Newsweek, “The most recent court hearing on the case was held on April 25, during which the DNC reportedly argued that the organization’s neutrality among Democratic campaigns during the primaries was merely a “political promise,” and therefore it had no legal obligations to remain impartial throughout the process.”

In other words, the DNC is admitting guilt while insisting it did no wrong in directly supporting Wall Street’s choice to be the Democratic Party candidate for US president because they certainly didn’t want the people’s candidate

For more on this story click the links below.

The Lawsuit—Newsweek

DNC Lawyers Argue DNC Has Right to Pick Candidates in Back Rooms

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More than 200,000 people took to the streets in Washington, DC, Saturday April 29th for the People’s Climate March. Tens of thousands more joined via sister marches across the globe, including Japan, the Philippines, New Zealand, Uganda, Kenya, Germany, Greece, United Kingdom, Brazil, Mexico, Costa Rica and more.

In the U.S., more than 370 marches in nearly all 50 states took place, from the town of Dutch Harbor in Alaska’s Aleutian Islands to the streets of Miami, Denver, Los Angeles, Chicago and other major American cities.

A coalition of communities, faith leaders, labor activists, civil rights champions and climate justice advocates led the march while demanding commonsense protections for the air we breathe, the water we drink and the health of the vulnerable communities who have the most to lose under President Trump’s administration.

The battle over climate change is a sticky one. The fossil fuel industry which own plenty of politicians in both major political parties spends millions of dollars a year denying it’s happening, but my rhododendron is now blooming in early December. Twenty-five years ago, it began blooming in late March and early April. Fifteen years ago, it began blooming in January. I also have roses blooming in snowy December, and that is something that never happened in the forty years I’ve lived in this house.

Quite naturally, the war over climate change is a battle over ever increasing profits and share prices. Major corporations and their shareholders, as well as Wall Street (which controls the Democratic Establishment like puppets), want ever increasing profits because this produces ever increasing share prices and dividends. Getting rid of fossil fuels will force the oil corporations out of business, and cut into the profits and share prices of other manufacturers.

This means the battle over climate change is a battle between ultra rich shareholders and millionaire and billionaire CEO’s on the one hand, and the rest of the world’s people on the other. Naturally, the rich and their corporations fund bogus studies showing global warming in not real in order to influence the voters of the 99 percent to believe climate change is a communist plot to destroy the American way of life, when it is really the rich destroying the US middle class way of life. My roses and rhododendron tell me climate change is real, but then, so is the class warfare the rich are waging on the rest of us.

I should point out that the folks at Exxon now admit fossil fuels are causing global warming. The company denied it for decades, but knew as early as the middle of the 1970s that it was happening.

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President Donald Trump is proposing more tax cuts for the rich. He claims there will be no loss of federal revenue with his tax cuts. This is the standard Republican Party Establishment lie.

Given that Trump’s plan is similar to what Trump proposed on the campaign trail, the Committee for a Responsible Federal Budget (CRFB) did a rough cost estimate of his latest ideas and concluded they could cost $5.5 trillion in lost revenue during the first decade.

CRFB estimates the overall cost could go as high as $7 trillion if limits on tax breaks that the plan suggests apply only to high earners. Or the cost could fall to $3 trillion “assuming credits and exclusions are eliminated as well as deductions.”

This means sharp cuts to programs the middle class and poor need, while, no doubt, keeping welfare programs for the rich, such spending more on the military than the next 25 nations combined, 24 of whom are US allies. Corporate subsidies are also welfare for the rich since they help keep corporate profits and the stock market bubble growing, all of which mostly redounds to the rich.

Oh, and we can’t forget the next biggest lie; tax cuts for the rich trickles down the the 99 percent in the form of jobs. There is not one shred of evidence that giving tax cuts to the rich has created a single net job. There is plenty of evidence, on the other hand, that tax cuts for the wealthy have destroyed millions of US jobs.

That’s because the rich usually invest their tax cuts gains in the stock, bond and political markets. They buy up politicians by the barrel full and then have their politicians pass legislation that will keep inflating their stock, bond and housing bubbles, which means exporting millions of jobs overseas and then redistributing the difference between the old higher US pay and the new lower third world slave labor pay to the rich via higher corporate profits, surging stock and bond markets, and rising dividends.

In the meantime, due to the reduced tax revenue, our roads and bridges will continue to crumble, our public schools will continue to be financially gutted, the cost of entering a public park will continue to rise, the unemployment rate will rise, and so on and so forth.

Don’t be fooled by the same lies President Ronald Reagan and Dick Cheney and Arthur Laffer fed us. Tax cuts for the rich will not pay for themselves, nor will they create jobs, but they will corrupt your government more, and it is already the most corrupt in the developed world. Both major political parties are corrupted to the core.

 

This suggests that any working class concerns addressed by Trump during the campaign has been rendered moot. Trump, in other words, is now completely owned and 100 percent influenced by Wall Street and the Republican National Committee and their corporate owners.

By the way, a story in Newsweek puts it a little less scary than I. “‘…while major tax cuts have been enormously beneficial to the wealthy by reducing their taxes and increasing their incomes the most, the distribution of benefit for working people has been comparatively negligible. That is not the argument of some liberal politician—it was the finding of Martin Feldstein, the chief economic adviser to President Ronald Reagan, in his analysis of the Tax Reform Act of 1986.'”

Feldstein, in other words, said the creation of jobs by tax cuts for the rich “has been comparatively negligible.”

Click here for the full Newsweek story.

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The Republican Party leadership has shown its true colors for all the world to see. The loyalty of Wall Street Senator Mitch McConnell, as well as most of the rest of the Republican establishment, is to Wall Street and large corporations and to the Koch Brothers. McConnell and the Republicans were willing to put an end to the filibuster against US Supreme Court candidates desired by big business. Neil Gorsuch was the most pro-billionaire, anti-original intent jurist yet selected to the highest court. See Gorsuch is not an Original Intent Candidate: Another Reason Why Trump’s Supreme Court Nominee is Not Fit to Be a US Supreme Court Justice–JohnHively.wordpress.com

Now, let’s see if McConnell will do something to show his loyalty to the Republican grassroots and put an end to the filibuster so that it cannot be used against legislation that is intended to end legalized abortion. The answer, of course, is no he won’t. That’s because McConnell and most of the rest of the Republican Party establishment are loyal only to corporate profits, surging dividends and the stock market bubble that is within a few months of bursting.

No doubt, the Democratic Party establishment is also against ending the filibuster when it comes to legislation. The Democratic grassroots would then demand an increase in the minimum wage to $15, single payer health insurance, renegotiate trade treaties to stop US corporations from exporting US jobs (Republican grassroots would also demand this), and a lot more.

The billionaires who control the Democratic and Republican Parties wouldn’t want to see any of this occur. These things would put downward pressure on their profits, dividends and share prices. It’s Warren Buffett (Democrat) vs the Koch Brothers (Republican), Costco (Democrat) vs Walmart (Republican), etc….

So don’t expect Wall Street Senator Mitch McConnell to put an end to the filibuster when it comes to legislation, especially as it pertains to abortion, even though the Republicans control the white house and both houses of congress. That will never be allowed to happen. The billionaires won’t let it.

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In 2012, news that wasn’t published hardly at all included the fact that Costco’s CEO Craig Jelinek decided that redistributing income from his employees to his shareholders by cutting wages was not good for the employees or for the shareholders. Wall Street was pressuring him to do exactly that (Click here for the story from http://www.zdnet.com). This was in spite of the fact that Costco’s closing share price hovered slightly below $39 a share in March 2009 and had risen to over $90 a share in March 2012.

That higher wage strategy seems to have worked beautifully. Costco’s share price has been steadily rising, and it closed at $177 on March 2 2017. Wall Street was proven wrong–again.

The truth is simple. When you have a massive income redistribution from the 99 to the 1 percent via federal legislation, as in the last thirty-seven years, you have a government and an economy that are sick with massive corruption. Costco has opted out of that business model. Thirty-six years ago, the 1 percent took home about 8 percent of the nation’s income, now it’s over 30 percent and growing, and it’s been stolen from the rest of us. Thirty-six years ago, the 1 percent owned 7 percent of the nation’s wealth, now they own over 40 percent, and it’s growing at the expense of us all. However, when the latest stock market bubble bursts, and it will, much of that wealth will evaporate.

 

This is why the current economic expansion is long, but historically weak by virtually all measurements, despite a bigger gross domestic product, greater worker productivity and larger population than in years past. Demand should be robust compared to decades ago, but it instead remains comparatively lackluster. That is because the income of the 99 percent has been redistributed to the 1 percent, leaving the rest of us insufficient money to boost this economy in the manner of the past.

It’s time to put a little more balance in the economy by following the Costco model. The government has redistributed income from the 99 to the 1 percent via free trade treaties, privatization scams, corporate welfare and other means. It’s time for the government to move in the opposite direction on behalf of all of us, not just the rich.

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The Republican Party is about to determine whether or not it will become the biggest death panel since Adolf Hitler and the Nazi Party tried to exterminate the Jews of Europe.

US House of Representatives leader Paul Ryan pulled out his new American Health Care Act last week, which he is hoping will be used to replace the Affordable Care Act. According to the Congressional Budget Office (CBO) yesterday, within a decade as many as 24 million US citizens will lose their health care coverage and premiums will go up for the rest of us if Ryan’s plan is passed, and especially for low income people and the elderly. Many grandmas and grandpas will have to chose between starving to death, or not paying their overpriced healthcare premiums, thanks to the Ryan plan.

Obamacare has only added slightly more than 19 million people to the rolls of the health insured. That means another 4 million US citizens beyond Obamacare may lose their coverage with Ryan’s carefully thought out health care bill. And it has been carefully thought out.

March 8, 2017

The primary purpose of this bill by all appearances is to provide tax cuts to the rich, the only people who have been the beneficiary of thirty-six years of economic expansions, and deliberately so. Currently, there is a 0.9 percent tax on income over $200,000 a year to help fund Obamacare. There is also a 3.5 percent tax on capital gains for the same purpose, such as the profits from the sale of stocks and bonds. This is why Wall Street hedge funds and big investment firms want Obamacare gone.

Many Republicans are prepared to make the Republican Party and all it stands for into a giant death panel in order to make its billionaire masters richer. Herr Ryan is one of these. Yet, other Republicans want to get reelected.

Florida Republican Rep. Ileana Ros-Lehtinen, for example, said Tuesday that she wouldn’t be able to support Ryan’s health care legislation after the CBO score revealed the high number of people who would lose insurance.

“I plan to vote NO on the current #AHCA bill. As written the plan leaves too many from my #SoFla district uninsured,” the Florida congresswoman wrote in two consecutive tweets. “As #AHCA stands, it will cut much needed help for #SoFla’s poor + elderly populations. Need a plan that will do more to protect them.”

This shows several things. The legislation is not likely going to pass. The Republicans are going to find it difficult to give their billionaire masters tax cuts by replacing Obamacare. So they will likely try a different tack.

The most likely scenario is simply keeping Obamacare largely intact, but shifting the tax burden from the rich to the middle and lower classes, and then marketing this plan as replacing Obamacare. One thing is certain; replacing Obamacare and taking health insurance from tens of millions of people in the process is not going to be politically palatable.

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