Feeds:
Posts
Comments

Posts Tagged ‘Warren Buffett’

where_does_all_the_money_go___pavel_constantin

As President-elect Donald Trump takes office today, January 20, 2017. the Pew Research Center reports “the public has starkly different expectations about which groups in society will gain influence – and those that will lose influence – under his administration.

Nearly two-thirds of Americans (64%) say wealthy people will gain influence in Washington when Trump takes office. Just 8% say they will lose influence, while 27% expect the wealthy will not be affected.”

I agree with the 27 percent who say the wealthy will not be affected. The reason is simple. The rich already control both major political parties, and through them, the rich control the federal government, virtually all state governments, and most big city governments, as well as a lot of local governments.

The wealthy are not going to improve upon that score a whole lot under Trump. Control of the legislative process has been the primary means by which the 1 percent has methodically increased its share of wealth and income of the United States year after year for the last thirty-five years.

That’s why the 64 percent who say wealthy people will gain influence are wrong inasmuch as wealthy people have so much power they can’t possibly gain anymore.

The difference is that those rich folks who use the Democratic Party as a vehicle to control the mechanisms of government and to profit via those mechanisms, have lost influence. Think Warren Buffett, George Soros, Bill Gates and other Democratic Party billionaires. Their rivals who control the Republican Party will gain influence at their expense.

Those Republican billionaires include Sheldon Adelson, Donald Trump, Charles and David Koch, hedge fund managerz Paul Singer and Robert Mercer, and a lot of other Wall Street investors.

Together, the billionaire Democrats and billionaire Republicans form a kind of good old boy network with some rivalries among them. They also control the media in such a way as to ensure we don’t see this, although it’s pretty obvious.

Advertisements

Read Full Post »

63461582

The corporate wing of the US Supreme Court, a commodity purchased by the Koch Brothers long ago, is likely going to hand down the Koch Brothers influenced, or ordered, decision against public employee unions, just as it destroyed legal precedents with its Koch Brothers influenced, or ordered, decision in the Citizen’s United case. The Koch Brothers wing of the court include Clarence Thomas, Antonin Scalia, John Roberts, Samuel Alito and sometimes Anthony Kennedy. To be fair, the Warren Buffett/George Soros wing of the US Supreme Court are the remaining justices.

The object of their decision, of course, is to tip the scales of justice more and more into the hands of their billionaire backers, and away from legal precedents, the Constitution, and the vast majority of US citizens, and the Democratic Party.

The case is simple enough in the soon to be decided Friedrichs v California teachers Association case. Some union members don’t enjoy paying union dues, but they enjoy the benefits of union/management negotiations. So they want a free ride.

“Earlier this month the justices heard oral arguments in the case that turns on the so-called no-free-lunch provision of the union contract in a school district near Anaheim, Calif. It requires teachers to pay a portion of the union’s dues even if they choose not to join. Several teachers sued, claiming that violates their First Amendment rights. Unions take political positions, the teachers noted, with which they might not agree.

By the union’s logic, all teachers benefit from the salary scale it negotiates. So shouldn’t all have to pay their share of the cost of negotiating a contract? Can’t the free-speech issue can be addressed by giving nonmembers a discount — subtracting an amount proportional to what the union spends on political activities?”

The plaintiff, Rebecca “Freeride” Friedrichs doesn’t even want to pay that trivial fee. So she was mysteriously discovered by a billionaire organization, the National Right to Work Legal Defense Foundation (NRTWLDF), according to PRWatch.

“The NRTWC has deep connections within the national right-wing network led by the Koch brothers. Reed Larson, who led the national right to work groups for over three decades, hails from Wichita, Kansas, the hometown of Charles and David Koch. Larson became an early leader of the right-wing John Birch Society in Kansas, which Fred Koch (the father of Charles and David) helped found. Several other founders and early leaders of the NRTWC were members and leaders of the John Birch Society, specifically the Wichita chapter of which Fred Koch was an active member.

The groups remain tied to the Kochs. In 2012, the Kochs’ Freedom Partners group funneled $1 million to the National Right to Work Committee, while the Charles G. Koch Charitable Foundation gave a $15,000 grant to the NRTWLDF, which has also received significant funding from the Koch-connected DonorsTrust and Donors Capital Fund. Today, at least three former Koch associates work as attorneys for the NRTWLDF.”

One can rightly suspect the Koch Brothers and their buddies are going after public sector labor unions because those unions largely support Democratic Party candidates. On the national level, Koch Brothers rivals, such as billionaire hedge fund managers Warren Buffett and George Soros, largely control what the Democratic Party does legislatively.

However, the result of this battle between billionaire titans is another nail in the coffin of the middle class, with the weakening of labor unions if Justice Kennedy decides in favor of the Koch Brothers, which means Rebecca Friedrichs has allowed herself to be just another brick in the wall of this never-ending struggle.

– See more at: http://www.prwatch.org/news/2014/06/12498/who-behind-national-right-work-committee-and-its-anti-union-crusade#sthash.0BWV56Iy.dpuf

As Supreme Court weighs unions, middle class hangs in the balance–Chicago Tribune

Click here for more on the story from the New York Times.

Read Full Post »

The corporate propaganda machine, commonly known as the corporate media, always seeks to advance the cause of the 0.01 percent in redistributing income from the 99 percent to themselves. One of the ways to do this is to distract the mass of people from the real issues.

So when President Obama said that increasing income inequality was a threat to the American dream, and “the defining challenge of our time,” the president was right on, since the 1 percent now steal 37 percent of all US income, compared to 8 percent in 1980. This has been brought about due to federal legislation, such as tax cuts for the rich, privatization scams, the use of corporate mercenary soldiers to hide US military causalities abroad, and free trade agreements.

This is nothing short of political corruption to the max by the one percent.

The result of this inequality is the weakest economic growth and weakest job growth of all US economic expansions. It’s also responsible for declining real income for the 99 percent, and most of the other financial maladies afflicting society, such as underfunded schools, frayed social service nets, problems financing the social security trust fund 18 years down the road, rising poverty, and much more.

When the president said inequality was the “defining issue of our time,” what did the 1 percent do to protect their ability to corrupt the government? They unleashed their so-called free press to make us understand the president’s comment was “Class warfare,” and that was a bad thing. The Democrats and President Obama immediately retreated from this issue, save for a few, such as US Senator Bernie Sanders and US Senator Elizabeth Warren. Expect this issue to be pushed to the side by the rich person’s propaganda machine during the upcoming elections, save for Bernie Sanders.

The odd thing is the rich have been waging war on the 99 percent by using their corruption of government to enact legislation that redistributes income from the 99 to the 1 percent. But they refuse to call this class warfare, when that’s precisely what it is. Quite naturally, the corporate propaganda machine has been instructed to never mention this fact, or the job security of editors and reporters will be terminated. Corporate advertisers will vacate the parts of the machine that report real news that is not in harmony with the desires of the rich.

Of course, there are a few other reasons why Americans fall for this treachery time and again, and John Oliver explains it wonderfully in the video above.

The rich know class warfare has been waged for the last thirty-five years, as Warren Buffett, the third most richest person in the US, so famously said years ago.

quote-there-s-class-warfare-all-right-but-it-s-my-class-the-rich-class-that-s-making-war-and-we-re-warren-buffett-214525

Read Full Post »

US Middle Class Senator Elizabeth Warren asks a simple question about the Trans Pacific Partnership (TPP); “If this treaty is so good, then why does President Obama want to keep it so secret?”

President Obama has recently called out Elizabeth Warren on her stance against the Trans-Pacific Partnership (TPP). Saying Warren is just flat-out wrong about TPP, Obama shows whose interests he really represents; billionaires like Bill Gates and Warren Buffett, and almost all major corporations, especially Wall Street Investment Banks and Monsanto. That’s who the president and Wall Street Senator’s Ron Wyden, Orrin Hatch and Mitch McConnell represent. They don’t represent the 99 percent whether your talking about liberals or conservatives, progressives or Tea Party members.

The TPP is a massive income and political power redistribution scam. This will rig the already rigged economic and political game even more against the middle class, but billionaires like Warren Buffett, Phil Knight, and the Koch Brothers will love it.

Sen. Warren isn’t backing down from fighting TPP. She’s making regular appearances and delivering speech after speech against the TPP.

At this recent rally, Warren goes item for item, by the numbers and explains why she is against TPP; they’re reasons Obama should be against it too, but he’s too heavily invested in Wall Street.

Read Full Post »

A new congressional study suggests that massive immigration increases in recent decades have hammered middle-class wages. Whether through taking jobs or casting votes, hyper-immigration is revolutionizing the U.S.

We are a nation of immigrants, it is often reflexively said. But it is a little-known fact that our foreign-born population dropped more than 11% in the quarter century after World War II.

Since 1970, however, we have become a nation of hyper-immigration, as the foreign-born among us have exploded from fewer than 10 million to more than 41 million as of 2013 — a staggering 324.5% increase.

If a job cannot be exported, then immigrants are encouraged by business and government leaders to enter the United States to generate greater competition among middle class workers, which lowers wages and benefits. For example, a recent study shows that three out of four high tech workers are unemployed in their areas of expertise, and wages in the high tech sector are the same as during the early 1990s, and yet congressional leaders want to admit more immigrants via the H1-B visa. In this way wages and salaries will continue to stay artificially low, which benefits the 1 percent at the expense of the middle class.

The difference between the old higher wages (what wages should be under normal immigration increases) and the new lower wages with hyper immigration, goes straight into the pockets of the super rich via higher corporate profits, rising dividends and soaring share prices.

The middle class is getting hammered by the loss of millions of jobs that are exported via international agreements falsely marketed as free trade agreements. But the middle and lower classes are also getting hammered by hyper immigration. These two governmental policies are income redistribution scams perpetrated by the leadership of both major political parties and their billionaire and corporate sponsors, such as the Koch Brothers and Warren Buffett.

How badly has immigration and free trade policies been for the middle and lower classes?

“A new analysis from the nonpartisan Congressional Research Service for the Senate Judiciary Committee finds that during this era of free trade and hyper-immigration, incomes of the bottom 90% of Americans flat-lined, then dropped starting in 2000. By comparison, middle-class wages increased between 1945 and 1970.

Last year, Karen Zeigler and Steven Camarota of the Center for Immigration Studies found that, according to federal government data, “since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal).”

In the fourteen plus years since 2000, less than six million net jobs have been created in the United States, and all of them have gone to immigrants. On the other hand, according to the Federal Reserve, 28 million jobs were exported from the USA from 1990 to 2010, and several million more have been exported since 2010.

Salaries, wages and benefits would be going up if the United States had six million less working age immigrants. More significantly, however, US wages would be surging and our tepid economy would be booming if those trade agreements hadn’t been conceived. In both cases, trade agreements and immigration, income and wealth inequality in the USA would not be nearly so significant as it is now.

While so-called international trade agreements are the major cause of the income and wealth inequality of the last thirty-five years, with the 1 percent going from taking 8 percent of all income created in the USA in 1980 to 37 percent today, immigration (legal and illegal) is another, though admittedly lesser, but still significant, culprit in the financial war the super rich are waging against the middle class.

The Trans Pacific Partnership (TPP) is the largest income redistribution scam of all time. It is falsely being marketed as a free trade treaty. The Wall Street wing of the Democratic Party, led by President Obama and Wall Street Senator Ron Wyden, have merged with the Wall Street wing of the Republican Party. The TPP will provide incentives for US corporations to ship millions of US jobs overseas, and drive millions of Latin American immigrants illegally into the United States simultaneously, just like NAFTA did.

That’s why the TPP is another income redistribution scam for the 1 percent.

Read Full Post »

President Obama has vetoed Congress’s bill that tried to force approval of the Keystone XL pipeline! But the president still has to make his final decision on whether KXL is in our national interest. Let’s face it. It isn’t.

Read More Here From the Sierra Club

Estimates are that building the pipeline will bring a few hundred to a few thousand permanent jobs to the United States, but the potential environmental impact is massive. On the other hand, the battle over the pipeline is a battle between heavyweight billionaires.

In one corner are the Koch Brothers. Warren Buffett is in the other corner. The Koch Brothers have a sizable investment in the pipeline and the tar sands. Buffett owns the Burlington Northern Santa Fe railroad, which is the largest transporter of crude oil in the United States.

If Obama approves of the pipeline, Buffett loses and the Koch’s win. If Obama disapproves of the pipeline, the Koch Brothers lose and Buffett wins.

The Koch Brothers are big investors in the Republican Party. Buffett is a big investor in the Democratic Party. Obama will make his decision based on the priorities of the Democratic Party, just like a Republican president would make this decision based on the priorities of the Republican Party.

Expect Buffett to win.

Read Full Post »

Why does President Obama want congress to grant him Fast Track Authority and the Trans Pacific Partnership? Why do Wall Street Senators like Orrin Hatch, Mitch McConnell and Ron Wyden want the president to have these things?

Richard Trumpka, president of the AFL-CIO, tells you in the video above it’s above shipping jobs overseas and lowering wages. He’s correct, and incorrect.

More precisely, the president wants Fast Track Authority in order to limit senate debate on the issue of the Trans Pacific Partnership (TPP), the largest income redistribution scam of all time, falsely labeled as a free trade agreement.  The TPP will ship millions of jobs overseas and lower wages here at home, but it will do so to redistribute the difference between the old higher wages here and the new super lower wages overseas to the 1 percent via higher share prices, rising profits and soaring dividends.

That should tell you who the president and Ron Wyden really represents in the white house (Goldman Sachs, Warren Buffett, massive hedge funds, etc….) and who Orrin Hatch and Mitch McConnell represents (Goldman Sachs, Koch brothers, and massive hedge funds).

Read Full Post »

Older Posts »