FOR 8 YEARS THE OBAMA-ERIC HOLDER BANKSTER REGIME SABOTAGED
HOMELAND SECURITY TO KEEP THE HORDES INVADING AND VOTING DEMOCRAT.
IT'S ALL ABOUT KEEPING WAGES DEPRESSED
GLOBALIST FOR BANKSTERS, THE SUPER RICH and OPEN BORDERS
ADVOCATES TO FINISH OFF THE AMERICAN
MIDDLE-CLASS.
There’s a reason why Soros, Bezos, Zuckerberg,
Bloomberg, Gates and the Koch Brothers love the Obomb!
http://mexicanoccupation.blogspot.com/2018/09/barack-obama-and-his-muslim-style.html
“Democrats Move Towards ‘Oligarchical Socialism,’ Says Forecaster Joel Kotkin.”
President Barack Obama: During
his presidential campaign, President Obama promised to run an ethical and
transparent administration. However, in his first year in office, the President
has delivered corruption and secrecy, bringing Chicago-style political
corruption to the White House. JUDICIAL WATCH
IT WAS BILL CLINTON WHO UNLEASHED WALL
STREET’S BIGGEST
CRIMINAL BANKSTERS…. And
haven’t they sucked up the banksters’ gratuities
since?
Only Barack Obama has serviced banksters more than Hillary
and Billary!
“Clinton also failed
to mention how he and Hillary cashed in after his
presidential tenure to make themselves multimillionaires, in
part by taking
tens of millions in speaking fees from Wall Street
bankers.”
After a decade of falling pay, US Federal Reserve acts to stop “wage inflation”
IT WAS BILL CLINTON WHO UNLEASHED WALL
STREET’S BIGGEST
CRIMINAL BANKSTERS…. And
haven’t they sucked up the banksters’ gratuities
since?
Only Barack Obama has serviced banksters more than Hillary
and Billary!
“Clinton also failed
to mention how he and Hillary cashed in after his
presidential tenure to make themselves multimillionaires, in
part by taking
tens of millions in speaking fees from Wall Street
bankers.”
28 September 2018
The US Federal Reserve lifted its base interest rate on Wednesday, raising it above two percent for the first time since the US central bank began its low-interest-rate regime after the global financial crash of 2008. Explaining the rate hike, the Fed’s Open Market Committee said it was closely monitoring and would quickly react to “indicators of inflation pressures and expectations.”
The talk about inflationary pressures is a code word in ruling circles for the fear of rising wages. As Financial Times commentator John Authers noted in a recent article, “[W]age inflation is central to the Fed’s reaction function.”
The stupendous run-up on the global stock
exchanges and vast increase in the personal
fortunes of the financial oligarchy have depended
on the relentless downward pressure on workers’
wages and conditions.
exchanges and vast increase in the personal
fortunes of the financial oligarchy have depended
on the relentless downward pressure on workers’
wages and conditions.
Mass unemployment, home foreclosures and the spread of
poverty during the Great Recession were used as a hammer to
restructure class relations in the United States and around the
world and destroy social rights and protections won by workers
over generations of class struggle. While governments of every
stripe handed out trillions in “economic stimulus” packages to
the financial speculators and corporations responsible for the
crash, the watchwords for the working class were austerity,
“labor flexibility” and the poverty-level wages and precarious
employment associated with the so-called Gig Economy.
poverty during the Great Recession were used as a hammer to
restructure class relations in the United States and around the
world and destroy social rights and protections won by workers
over generations of class struggle. While governments of every
stripe handed out trillions in “economic stimulus” packages to
the financial speculators and corporations responsible for the
crash, the watchwords for the working class were austerity,
“labor flexibility” and the poverty-level wages and precarious
employment associated with the so-called Gig Economy.
The Obama administration’s restructuring of the auto industry, carried out with the full support of the United Auto Workers union, slashed the wages of new hires in half, abolished the eight-hour day and vastly expanded the use of temporary part-time workers. This became the template for an assault on every section of the working class. Similarly, the IMF-backed structural adjustment programs imposed on Greece, Spain, Portugal and other countries by various governments, including the so-called Coalition of the Radical Left (SYRIZA), robbed pensions, raised retirement ages and sold public assets to pay off the banks.
Since 2008, the real income for 90 percent of wage earners has been frozen in the US. Average annual raises have ranged from 2 to 3 percent a year since the beginning of 2013, which was at or below the rate of inflation. The rise of the last decade is even lower than the 4 percent increases in average hourly earnings before the 2007–2008 collapse and well below the 7 to 9 percent annual rises of the 1970s and 1980s. Adjusting for inflation, wages of American workers today have the same purchasing power as they did in 1978, according to the Pew Research Center, which said hourly earnings in real terms peaked 45 years ago, in 1973.
Due to the shifting of health care costs from the employers to workers under Obama, whatever meager wage increases workers achieved were more than eaten up by rising medical costs. Over the past nine years, employee out-of-pocket spending for a family of four in the US increased 69 percent in the form of higher co-pays and higher deductibles, along with a 105 percent employee premium contribution growth, according to a CNBC comment by health care executive Keith Lemer. The percentage of family income spent on health care rose from 8 percent in 2008 to 12 percent in 2015, adding to a de facto cut in real wages.
With official unemployment levels hitting record lows, however, employers have been forced to slightly increase wages over the last several months to attract labor. The Labor Department reported earlier this month that average hourly earnings were up 0.4 percent in August from the previous month and 2.9 percent from a year earlier, up from an average annual increase of 2.7 percent recorded in July.
In real terms, last month’s average hourly earnings rose by only 0.2 percent points above the inflation rate. Nevertheless, this princely sum—the highest average wage hike in nine years—was enough to set the alarms off and provoke the US Federal Reserve to come out with both guns blazing to stop wage “inflation.”
This is a class conscious decision by the central bank executives, who understand that investors tend to make far more money when the sword of mass unemployment and poverty is kept swinging over the heads of workers. This was made clear in recent note to investors by a financial analyst for Charles Schwab. “Statistics dating back to 1950 show that when the unemployment rate was below 4 percent, as it is now, stock market returns were quite low,” analyst Liz Ann Sonders complained. “Conversely, when unemployment was at its highest, the stock market did very well—delivering returns that were nearly four times as high as when unemployment was plumbing the depths.”
Whatever the internecine battles being waged within differing sections of the corporate and political establishment—from the degrading spectacle in Washington to the internal conflicts in the UK and Germany—every faction of the ruling class and its political representatives are united in their fear and hatred of the working class. In country after country, they are sharpening the weapons of state repression, encouraging right-wing and fascistic forces and beating the drums for war.
Over the last decade, the world’s corporate and financial elites have relied on the trade unions to suppress the resistance of the working class to wage-cutting and austerity and facilitate an historic transfer of wealth to the top. But this artificial suppression of class struggle has only guaranteed that its reemergence will be all the more explosive. Throughout the world, social and class conflict is erupting to the surface through an increase in strikes and the growth of anti-capitalist sentiment among workers and young people.
In the US, the wave of teachers' strikes earlier this year were
followed this month by educators' strikes in the states of
Washington and Pennsylvania, a near unanimous vote by Los
Angeles teachers to join the strike wave, and a walkout by hotel
workers in Chicago. More than 8,000 hotel workers in other states
have voted to walk out, as have 30,000 steelworkers who voted
unanimously to authorize a strike at US Steel and ArcelorMittal.
followed this month by educators' strikes in the states of
Washington and Pennsylvania, a near unanimous vote by Los
Angeles teachers to join the strike wave, and a walkout by hotel
workers in Chicago. More than 8,000 hotel workers in other states
have voted to walk out, as have 30,000 steelworkers who voted
unanimously to authorize a strike at US Steel and ArcelorMittal.
Fiat Chrysler workers have voted to walk out in Kokomo, Indiana, and so have University of Michigan nurses. There is also deep opposition to the sellout deal signed by the Teamsters covering 230,000 UPS workers, who are currently voting on the contract. Amazon workers are speaking out against brutal conditions.
The major obstacle to the unification of the working class is the unions, which are blocking strikes and, if they break out, doing everything they can to isolate and defeat them. This is compelling workers to find new means to wage their struggles. The Socialist Equality Party in the US and its sister parties around the world are encouraging and assisting workers in forming rank-and-file factory and workplace committees to take up the responsibilities long ago abandoned by the corporatist unions, including waging a fight against speedup, unsafe conditions, victimizations and the constant erosion of wages and benefits.
The struggle to unify and defend the interests of the working class means rejecting the reactionary program of economic nationalism of the unions and their subordination of workers’ needs to the profits and prerogatives of the giant corporations and banks. Instead, it means building a powerful political movement of the working class to fight for international socialism, the expropriation of the capitalist class, and the reorganization of economic life to meet human needs, not private profit.
Jerry White
OBAMA'S ASSAULT ON AMERICA -WHY WALL STREET, ILLEGALS, CRIMINAL BANKSTERS and the 1% LOVE HIM, AND THE MIDDLE CLASS GETS THE SHAFT TO PAY FOR HIS CRONY CAPITALISM
CEO pay is higher than ever, as is the chasm separating the rich and super-rich from everyone else. The incomes of the top 1 percent grew more than 11 percent between 2009 and 2011—the first two years of the Obama “recovery”—while the incomes of the bottom 99 percent actually shrank.
Meanwhile, Obama is pressing forward with his proposal, outlined in his budget for the next fiscal year, to slash $400 billion from Medicare and $130 billion from Social Security… AS WELL AS WIDER OPEN BORDERS, NO E-VERIFY, NO LEGAL NEED APPLY TO KEEP WAGES DEPRESSED
THE RISE TO POWER OF BANKSTER-OWNED BARACK OBAMA
'Incompetent' and 'liar' among most frequently used words to describe the president: Pew Research Center
The larger fear is that Obama might be just another corporatist, punking voters much as the Republicans do when they claim to be all for the common guy.
OBAMA’S CRONY BANKSTERISM destroyed a 11 TRILLION DOLLARS in home equity… and they’re still plundering us!
Barack Obama created more debt for the middle class than any president in US history, and also had the only huge QE programs: $4.2 Trillion.
OXFAM reported that during Obama’s terms, 95% of the wealth created went to
the top 1% of the world’s wealthy.
PATHOLOGICAL LIAR BARACK OBAMA MOCKS TRUMP
Obama orchestrated the greatest transfer of wealth to the rich in U.S. history!
THE WALL STREET BOUGHT AND OWNED DEMOCRAT PARTY
SERVING BANKSTERS, BILLIONAIRES and INVADING ILLEGALS
THE CRONY CLASS:
Income inequality grows FOUR TIMES FASTER under Obama than Bush.
“By the time of Bill Clinton’s election in 1992, the Democratic Party had completely repudiated its association with the reforms of the New Deal and Great Society periods. Clinton gutted welfare programs to provide an ample supply of cheap labor for the rich (WHICH NOW MEANS OPEN BORDERS AND NO E-VERIFY!), including a growing layer of black capitalists, and passed the 1994 Federal Crime Bill, with its notorious “three strikes” provision that has helped create the largest prison population in the world.”
OBOMB for
BRIBES:
BARACK OBAMA
AGAIN TALKS THIRD TERM.
President
Barack Obama: During
his presidential campaign, President Obama promised to run an ethical and
transparent administration. However, in his first year in office, the President
has delivered corruption and secrecy, bringing Chicago-style political
corruption to the White House. JUDICIAL WATCH
“They knew Obama was an unqualified crook; yet they promoted him. They knew Obama was a train wreck waiting to happen; yet they made him president, to the great injury of America and the world. They understood he was only a figurehead, an egomaniac, and a liar; yet they made him king, doing great harm to our republic (perhaps irreparable.)” ALLAN ERICKSON
"We know that Obama
and his inner circle have set up a war room in his D.C.
home to plan and
execute resistance to the Trump administration and
his legislative agenda. None of these people care about the
American people,
or the fact that Trump won the election because millions
of people voted for
NO POL IN
HISTORY SUCKED IN MORE BRIBES FROM BANKSTERS THAN BARACK OBAMA, AND HE DID IT
BEFORE HIS FIRST DAY IN OFFICE. What did the Wall Street banksters know that
took us so long to find out???
"One of the
premier institutions of big business, JP Morgan Chase, issued
an internal report on the eve of the 10th anniversary of the 2008
crash, which warned that another “great liquidity crisis”
was possible, and that a government bailout on the scale of that
effected by Bush and Obama will produce social unrest, “in light of
the potential impact of central bank actions in driving
inequality between asset owners and labor."
Obama, of course, covered up
his own role, depicting his presidency as eight years of heroic
efforts to repair the damage caused by the 2008 financial crash. At
the end of those eight years, however, Wall Street and the financial
oligarchy were fully recovered, enjoying record wealth, while
working people were poorer than before, a widening social chasm that
made possible the election of the billionaire con man and Demagogue in November
2016.
“The response of the administration
was to rush to the defense of the banks. Even before coming to power, Obama
expressed his unconditional support for the bailouts, which he
subsequently expanded. He assembled an administration
dominated by the interests of finance
capital, symbolized by economic adviser Lawrence Summers and Treasury
Secretary Timothy Geithner.”
Trump criticized
Dimon in 2013 for supposedly contributing to the
country’s economic downturn. “I’m not Jamie Dimon, who pays $13 billion to
settle a case and then pays $11 billion to settle a case and who I think is the
worst banker in the United States,” he told reporters.
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