Obama To Corporate CEOs: "If You Have A Complaint, You Can Keep your Complaint"

Tyler Durden's picture


President Barack Obama has a direct message for the leaders of America’s biggest companies: if you have a complaint, you can keep your complaint. "If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks at the top," Obama said in an interview with The Economist published over the weekend. As The WSJ adds, Obama maintained that complaints from corporate CEOs in the current environment should be taken with “a grain of salt” as most policies he has implemented have "generally been friendly towards business."


Original interview with The Economist:


Excerpts from the interview via The Wall Street Journal,

They always complain about regulation. That’s their job. Let’s look at the track record. Let’s look at the facts. Since I have come into office, there’s almost no economic metric by which you couldn’t say that the US economy is better and that corporate bottom lines are better. None."


“So if, in fact, our policies have produced a record stock market, record corporate profits, 52 months of consecutive job growth, 10 million new jobs, the deficit being cut by more than half, an energy sector that’s booming, a clean-energy sector that’s booming, a reduction of carbon pollution greater than the Europeans or any other country, a housing market that has bounced back, and an unemployment rate that is now lower than it was pre-Lehman - I think you’d have to say that we’ve managed the economy pretty well and business has done okay."


“There are always going to be areas where business does not want to be regulated because regulations are inconvenient.”


In the interview, Mr. Obama said corporations should try to improve the livelihood of the middle class through higher-paying jobs. He noted that wages and incomes have been stagnant for roughly two decades.


“The reason I’m concerned about this is not in any way a punitive notion,” Mr. Obama said. “Oftentimes, you’ll hear some hedge-fund manager say, ‘Oh, he’s just trying to stir class resentment’. No. Feel free to keep your house in the Hamptons and your corporate jet, etc. I’m not concerned about how you’re living.


I am concerned about making sure that we have a system in which the ordinary person who is working hard and is being responsible can get ahead and are seeing modest improvements in their life prospects, if not for themselves, then certainly for the next generation,” he added.

*  *  *

... President Obama was later seen heading to a major fundraiser led by one of America's most successful business leaders...

*  *  *

So - thank me for the recovery, but don't blame me for the inequality... an ironic truth we have explained a number of times:

Inequality in the U.S. today is near its historical highs, largely because the Federal Reserve’s policies have succeeded in achieving their aim: namely, higher asset prices (especially the prices of stocks, bonds and high-end real estate), which are generally owned by taxpayers in the upper-income brackets. The Fed is doing all the work, because the President’s policies are growth-suppressive. In the absence of the Fed’s money-printing and ZIRP, the economy would either be softer or actually in a new recession.


The greatest irony is that the President is railing against inequality as one of the most important problems of the day, despite the fact that his policies are squeezing the middle class and causing the Fed – with the President’s encouragement – to engage in the radical monetary policy, which is exacerbating inequality.


This simple truth cannot be repeated often enough.

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Mon, 08/04/2014 - 17:04 | 5045801 darteaus
darteaus's picture

Welcome to Omerika!

Mon, 08/04/2014 - 17:12 | 5045845 Stackers
Stackers's picture

Hmmm, these "folks" sure do get around.

Mon, 08/04/2014 - 17:16 | 5045882 kaiserhoff
kaiserhoff's picture

The sack o shit in chief be speaking.

Well, bumping his gums, at least.

Mon, 08/04/2014 - 18:48 | 5046299 BorisTheBlade
BorisTheBlade's picture

Joker didn't work a single day in real sector and was voted into office on unicorns and rainbows.

Tue, 08/05/2014 - 06:42 | 5047918 fx
fx's picture

Well, he admits that the top guys have done extremely well while "his" electorate  - small/middle guys - are worse off than before.

And then there is the Cold War with Russia that this moron has started. Something that even the much moronicer GWB didn't do.

Yes, Barry you can keep your performance over the past 6 years if you like it!

What a freakin' disgrace of a "president".

Thu, 08/07/2014 - 13:00 | 5059315 IRC162
IRC162's picture





Mon, 08/04/2014 - 23:11 | 5047426 TeethVillage88s
TeethVillage88s's picture

hey, how do you know when the US President is lying?

many ways....

A) his lips, are they moving
B) is he asking for war?
C) is he condemning a nation for being failed?
D) is he delivering proof of aggression & outrage while never mentioning crimes against humanity, crimes of torture, crimes of kidnapping, crimes of police states, Dirty Wars, or genocide by other nations?
E) does he fail to act against secret or otherwise well known prisons off shore
F) does he protect & increase budgets for secret spy agencies... along with the many legislative acts & even signs Presidential orders to expand police state & spying powers?

Well this is Police Powers of the USSR with US mega Funding.

Obama is Right Wing of your KKK.

Mon, 08/04/2014 - 17:17 | 5045885 pods
pods's picture

Hey Chalky, stop money printing or

Go go get your shinebox!


Mon, 08/04/2014 - 17:27 | 5045948 TheFourthStooge-ing
Mon, 08/04/2014 - 17:40 | 5046012 imapopulistnow
imapopulistnow's picture

And CEOs say: "OK, see ya."  Offshore they go.

Mon, 08/04/2014 - 18:08 | 5046149 nmewn
nmewn's picture

"If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks at the top,"

...he says while having servants he doesn't pay for pack his bags, so he can hop on MY CORPORATE JET and go to Maaahhhthahs Veeenyahd to sleep in a house he doesn't own, for three weeks of PAID VACATION by me and of course, hit up the same fat cats for some cash at a fundraiser.


Mon, 08/04/2014 - 18:24 | 5046217 Pure Evil
Pure Evil's picture

And, don't forget, access to all the exclusive bath houses that that money can buy.

Mon, 08/04/2014 - 18:28 | 5046230 NidStyles
NidStyles's picture

and their wenches... Well at least the Secret Service is taking advantage of those wenches I assume.

Mon, 08/04/2014 - 21:18 | 5046993 Ward cleaver
Ward cleaver's picture

Spider get me a ciutty and water...what am
I a mirage?

Mon, 08/04/2014 - 17:23 | 5045923 Cattender
Cattender's picture

Thank you President Obumba for this HUGE ECONOMIC RECOVERY!!!! LOL!!!!!

Mon, 08/04/2014 - 17:33 | 5045983 Sudden Debt
Sudden Debt's picture

You forgot to thank me for the free sunshine I'm giving to you....
Kind of feeling left out here...

Mon, 08/04/2014 - 18:35 | 5046259 Urban Redneck
Urban Redneck's picture

Barry already knows you thank him-

"Let’s look at the track record. Let’s look at the facts. Since I have come into office, there’s almost no economic metric by which you couldn’t say that the US economy is better and that corporate bottom lines are better. None."

Mon, 08/04/2014 - 19:02 | 5046330 sylviasays
sylviasays's picture

"Let’s look at the track record. Let’s look at the facts. Since I have come into office, there’s almost no economic metric by which you couldn’t say that the US economy is better and that corporate bottom lines are better. None."

The economic metrics have been manufactured and manipulated by this regime and are utterly worthless. The bottom lines of the TBTF banks that put Barry into office are better thanks to bailouts from taxpayers. 

Mon, 08/04/2014 - 17:47 | 5046057 doctor10
doctor10's picture

Capital is worthless today in the USA. By the time you're liscensed and insured, taxed and regulated at local, state and federal levels-there's little else left for the entrepreneur he can't get easier , elswhere, with less risk.

Throw in that any little guy doing more for less treading on some giant corporate toes gets his computer contents and bank account contents dumped in the lap of MegaCorp courtesy NSA

The USA is closed for business until at least the fourth Amendment means something once again. Probably  also requires the eradication of about 50% of all govenment regulation and 50% across-the-board tax cuts to get things seriously jump-started in the USA


Unitl that happens we will get to enjoy one Dem-Repub quasi-dictator after another taking turns running the shit-show.

Mon, 08/04/2014 - 22:13 | 5047231 Secede Or Die
Secede Or Die's picture

"... By the time you're liscensed and insured, taxed and regulated at local, state and federal levels-there's little else left for the entrepreneur he can't get easier , elswhere, with less risk."

So secede from this practice of running to these rulers and declare your independence. I have had 4 businesses over the last 34 years and I NEVER ask for permission or license nor do I follow any of their rules. I never have collected any sales taxes or made any kind of report about the money I make. It can be done but you must stop thinking that they own you. They are going to kill you (your liberty) if they have not already.

Secede or die. Person by person, business by business, county, state, secede!

Mon, 08/04/2014 - 23:58 | 5047550 TeethVillage88s
TeethVillage88s's picture


This is a Problem:

Not only did the liquidity go to purchasing their own stocks and probably to enhance financial portfolios...

- There is a systemic loss of smaller US Banks (Credit Unions did well in 2008, but perhaps they are targets now or now have poor manager who came from larger banks)

http://research.stlouisfed.org/fred2/series/USNUM (total number of Banks, Downward Trend)

- Public debt/government debt increased by 1970 from Vietnam which caused a lot of hand wringing

http://research.stlouisfed.org/fred2/series/GFDEBTN (Chart doesn't show Ronald Reagan Spending very well, Probably since there are accounting tricks/strategies where agencies use bonds for Trust Funds)

- Household Debt Increased from the 1980s

http://research.stlouisfed.org/fred2/series/HCCSDODNS (I think this is the chart, Steep Increase Mid 1980s, then leveled off then steep increase mid 1990s)

- Wikipedia: Household Debt $12.9 trillion by Q2 2012

- By 2013 looks like maybe $13.199 Trillion http://research.stlouisfed.org/fred2/series/CMDEBT Households and Nonprofit Organizations; Credit Market Instruments; Liability, Level

- And looks like Total US Debt $60-62 Trillion

- Private Banks don't Invest or Encourage CAPEX Capital Expenditures or good Capital Formation though in a Recess or a Depression, Seems like we need Public Banks or Credit unions or Government to do that.

- $12.2 trillion Federal Government Liabilities after adjustment for investments in 2013 Table 6 Final Monthly Treasury Statement
- $16.6 trillion Federal Government Total Treasury Securities issued as of 30 September 2013 Table 6 Final Monthly Treasury Statement
http://www.bea.gov/newsreleases/international/intinv/iip_glance.htm ($26 Trillion foreign compared to $22 for US) (This is very interesting as Big Banks are growing strongly, but the number of total us banks is dramatically decreasing, like someone is gaming the system, Commercial Banks in the U.S. - FRED - St. Louis Fed)

- $59.398 T All Sectors; Credit Market Instruments; Liability, Level

http://research.stlouisfed.org/fred2/series/USNUM (total Banks)


Rest of the world; foreign direct investment in U.S.; asset, Level
2014:Q1: 3,249,001.2 Millions of Dollars (+ see more)
Quarterly, Not Seasonally Adjusted, ROWFDNQ027S, Updated: 2014-06-05


Gross Private Domestic Investment
2014:Q2: 2,829.3 Billions of Dollars (+ see more)
Quarterly, Seasonally Adjusted Annual Rate, GPDI, Updated: 2014-07-30

US Banker are Nazis, Federal Reserve are Fascist.

Nuff Said.


Mon, 08/04/2014 - 17:04 | 5045802 astoriajoe
astoriajoe's picture

To a man with a hammer (& Sickle) all the worlds problems look like a nail.


Mon, 08/04/2014 - 17:11 | 5045848 FuzzyDunlop21
FuzzyDunlop21's picture

If you have no hammer, a complementary nailgun will be provided to you

Mon, 08/04/2014 - 17:36 | 5045996 Sudden Debt
Sudden Debt's picture

All that's missing is a project like building a hughe canal that's just to small but that needs every unemployed person to work on it. They might even get a shovel if they're nice.
I'm just so sure that bugger will want to start a big project in which "future generations will remember him by"....

Wanne bet?

Mon, 08/04/2014 - 18:45 | 5046289 astoriajoe
astoriajoe's picture

Well, there is Obamacare.

Mon, 08/04/2014 - 17:05 | 5045805 Shad_ow
Shad_ow's picture

The master of whine tells those who actually produce to "sit down, shut up, and get out of the way."

Mon, 08/04/2014 - 18:31 | 5046247 NidStyles
NidStyles's picture

Not sure I would say a CEO is responsible for anything other than his/her own bonus. It's not they are actually doing any real work that turns into products after all. 

Mon, 08/04/2014 - 17:06 | 5045809 MH17FLIGHT
MH17FLIGHT's picture

My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... http://goo.gl/bhiamE

Mon, 08/04/2014 - 17:12 | 5045851 FuzzyDunlop21
FuzzyDunlop21's picture

get the fuck off of here obama

Mon, 08/04/2014 - 17:14 | 5045865 Relentless101
Relentless101's picture

There seems to be a lot of this shit lately. Not cool.

Mon, 08/04/2014 - 18:06 | 5046139 Croesus
Croesus's picture


Since you're working so hard, maybe you should take a week or 2 off...maybe vacation to Liberia, or Sierra Leone. The weather's really nice in Nigeria this time of year. 

Mon, 08/04/2014 - 22:59 | 5047391 darteaus
darteaus's picture


I'm making tons more, I play golf every week, I get a phone and a pen, I work, maybe, 10 hours/week.

EVERYBODY want to be my BEACH!  Life is GREAT!!



Mon, 08/04/2014 - 17:05 | 5045810 Ms. Erable
Ms. Erable's picture

And to imagine he's better at golf than he is at public speaking - and he still can't make a double-digit final score on the links.

Mon, 08/04/2014 - 17:06 | 5045811 Stoploss
Stoploss's picture

Yeah fuck all that shit, when's tee time???

Mon, 08/04/2014 - 17:06 | 5045819 AdvancingTime
AdvancingTime's picture

Today a big topic is the huge growth in inequality. Those who look closely understand that it is not the 1% at the top stealing the icing off the cake, but the much smaller .1% or .01% that are skewing the numbers and overreaching.

I contend the biggest problem is the massive growth in crony capitalism and corruption in Washington. Much of this can be attributed to the ability of those in control "changing the rules" and positioning themselves to benefit at every corner. In our busy and complex world we have found it impossible to watch all the moving parts. More on this subject in the article below.



Mon, 08/04/2014 - 18:07 | 5046147 Escrava Isaura
Escrava Isaura's picture


Well said!

Inequality, crony capitalism, look closely understand.

Good luck overcoming all the indoctrination and misuse of words.

Mon, 08/04/2014 - 18:11 | 5046166 TheReplacement
TheReplacement's picture

Wow that's really news.  Thanks.

Mon, 08/04/2014 - 17:09 | 5045823 WTFUD
WTFUD's picture

Got this picture in my mind of Barry, Hitlery, Geithner, McStain , Bernanke and the rest on a slow spit roast.

Mon, 08/04/2014 - 17:09 | 5045830 medium giraffe
medium giraffe's picture



(too soon?)

Mon, 08/04/2014 - 17:23 | 5045928 Colonel Klink
Colonel Klink's picture

Courtesy of the Obama administration we'll soon be an Ebolanation.

Mon, 08/04/2014 - 17:10 | 5045836 Everybodys All ...
Everybodys All American's picture

Increasingly he's becoming more unhinged. I warned you all and this is not something he would have said in his first term.

Mon, 08/04/2014 - 17:12 | 5045853 insanelysane
insanelysane's picture

Does Warren Buffett's secretary still pay more in taxes than Buffett does?  Thought so.  Warren wants to pay more in taxes and they are going to get right on that after O wins the next election.

Mon, 08/04/2014 - 17:12 | 5045854 Cheduba
Cheduba's picture

Brilliant - claiming a reduction in "carbon pollution" because of the continued gutting of manufacturing and the shutting down of coal power plants, driving energy prices upwards.

Edward Bernays would be proud.

Mon, 08/04/2014 - 17:14 | 5045861 LongOfTooth
LongOfTooth's picture

That m-f'er is bought and paid for by the big boys so as far as I'm concerned it just a case of obama uttering more bull spit.  




Mon, 08/04/2014 - 17:30 | 5045962 ebworthen
ebworthen's picture

Yup, fodder for the believers in "hope and change".

Also grist for the conservative mill.

Distraction at its best.

Mon, 08/04/2014 - 17:40 | 5046013 Sudden Debt
Sudden Debt's picture

And so will be Hillarious. It's sure already 99.9999% that the bitch will be elected.
Because most of the lemmings are retarded morons who deserve what they'll get.

Mon, 08/04/2014 - 18:49 | 5046307 Pure Evil
Pure Evil's picture

So does this mean its no longer Bush's fault?

Mon, 08/04/2014 - 17:14 | 5045870 loregnum
loregnum's picture

This guy is such an obnoxious piece of shit. What makes him worse than other clowns like Bush is just the arrogance Obombya has and how he simply likes to see how much blatant bullshit he can spew forth before people call him out on it which he mainly knows they won't because it's somehow racist to state the truth about that useless twat.

Mon, 08/04/2014 - 17:15 | 5045874 Laughinggrizzley
Laughinggrizzley's picture

What is this assclown legacy going to be, improving his handicap and turning the US into a Third World Banana Republic (Without the beaches, cheap liquor, and cuban cigars)?

Mon, 08/04/2014 - 17:16 | 5045876 roadhazard
roadhazard's picture

Actually, fuck a bunch of CEO's.

GE pays Zero taxes, even gets a refund. It's a laugh that they are doing this corporate tax dance. For the many companies that pay almost nothing because of loopholes what is dropping the rate down to 15/20% going to do for them. This is all about the back end, where included in the bill will be the reparation of all offshore monies for pennies if anything on the dollar in taxes. The last time they did this the rich got richer. Go check it out for yourself.

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