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"Obama Is Clueless On Inequality," David Stockman Rages "The Problem Is [The Fed]"
Echoing Elliott's Paul Singer's "greatest irony of politicians railing against inequality," former Reagan OMB Director David Stockman raged that when it comes to inequality, everyone can see the symptom, but "President Obama is clueless as to the cause," blasting that the problem is not capitalism, "the problem is in the Eccles Building and the 12 people sitting there thinking that zero interest rates are some magic elixir that will cause this very toubled economy to revive.! It won't, "these people are dangerous and destructive," Stockman exclaims, and sooner or later the inequality they have created is going to cause a huge political reaction.
As Singer previously opined...
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 moneyprinting 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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Obama is clueless....nuff said!
Let's call it what it is... POVERTY inequality, not WEALTH inequality. Ask those niggers down in west Philly if they feel wealthy or poor.
Call it whatever you want.
I call it a neo-medieval feudalism
There is the king, his princes, the court and the peasantry. Laws are administered unequally, the rich enabled through dispensation of indulgences, the poor oppressed.
Call it whatever you like, argue and dissemble amongst yourselves, debate the King's criers, but I describe reality.
I don't think you even need the 'medieval' in there knucks. The good news is that it is built on the back of globalizm, which will fail. The bad news is that it is built on the back of globalism, which will fail.
“I am undecided if I should fully attack, or try to seduce the Homo Ignoramus” — Richard Dawkins
Dear Mr. Stockman,
First: Inequality will only get worse as we face less and less energy.
Second: The problem is not on Eccles Building, but within our unsustainable lifestyle and believes.
Let me show you two examples:
1) Meaningless Technology and Specializations
farming, forestry, and fishing: 0.7%
manufacturing, extraction, transportation, and crafts: 20.3%
managerial, professional, and technical: 37.3%
sales and office: 24.2%
other services: 17.6%
note: figures exclude the unemployed
https://www.cia.gov/library/publications/the-world-factbook/fields/2048.html
2) And the electricity that it takes
“A single data center can take more power than a medium-size town.”
Worldwide, the digital warehouses use about 30 billion watts of electricity, roughly equivalent to the output of 30 nuclear power plants
http://www.nytimes.com/2012/09/23/technology/data-centers-waste-vast-amounts-of-energy-belying-industry-image.html?pagewanted=all&_r=0
A profoundly stupid analyis.
Capitalism is enormously productive.
Without capitalism, the poplulation of planet earth would be a few tens of millions of humans living subsistence existence as tribalist hunter gatherers, competing against other tribes to see who can slaughter and eat all the mammoths and dodo birds first.
Subsistence = poverty.
With capitalsism, the earth supports six, seven, eight billion people, with big screen TV's, jet airplane travel, and iPhones. And there is probably room and resources for tens of billions more.
Just prooves how productive capitalism is.
The tribalist hunter gathers have no clue what these activities do and how they relate to the housing, feeding, trading, interdependence, and harmonization of 7 billion people.
Capitalism = civilization.
Socialism = tribalism = subsistence
Socialism is capitalism for the public.
Capitalism is socialism for the rich.
Capitalism….. Past performance is no guarantee of future returns.
thebigunit,
Everyone with the slightest clue knows that we live in a finite planet. So, capitalism is due to fail.
Everyone with an IQ over 100 can easily grasp that Capitalism is bullshit. Energy is life’s maker and breaker.
Food for thought:
“It is futile to be ‘anti-Fascist’ while attempting to preserve capitalism,” George Orwell wrote. “Fascism after all is only a development of capitalism, and the mildest democracy, so-called, is liable to turn into Fascism.”
http://www.truth-out.org/opinion/item/23486-chris-hedges-capitalism-not-government-is-the-problem
Capitalism is basically a system where everything is for sale, and the more money you have, the more you can get. And, in particular, that's true of freedom.
Freedom is one of the commodities that is for sale, and if you are affluent, you can have a lot of it. It shows up in all sorts of ways. It shows up if you get in trouble with the law, let's say, or in any aspect of life it shows up.
And for that reason it makes a lot of sense, if you accept capitalist system, to try to accumulate property, not just because you want material welfare, but because that guarantees your freedom, it makes it possible for you to amass that commodity. [...] what you're going to find is that the defense of free institutions will largely be in the hands of those who benefit from them, namely the wealthy, and the powerful.
They can purchase that commodity and, therefore, they want those institutions to exist, like free press, and all that.
http://en.wikiquote.org/wiki/Noam_Chomsky#1970s
Mr. Moonbat:
Ten thousand years ago, everyone was at tribalist hunter gatherer.
There was no capitalism. There was no capital.
The planet is as finite today as it was ten thousand years ago.
Today there is capitalism and capital. Where did it come from?
If something that didn't exist, now exists, how do you know it's finite?
thebigunit
how do you know it's (planet is) finite?
I know it is finite by simple arithmetic.
Here is another example:
By Professor Al Bartlett:
I got a report recently (1991) from these giants (surface mining and deep underground mining) coal fields of Kentucky, West Virginia, and Virginia and they estimated that we have another 30 years (2021) before it becomes uneconomically to mine there.
https://www.youtube.com/watch?v=umFnrvcS6AQ&feature=youtu.be“#t=30m22s”
"The planet is as finite today as it was ten thousand years ago."
Absolutely right.
But that was ten thousand years ago! To help simple-minded people: Imagine you put 10 bottles of soda (or whatever) in your fridge 1 week ago, and you use 1 bottle per day. And today is day 7. The soda supply was as finite today as it was a week ago. But unlike with soda, which you can purchase in your closest shop, you can not simply leave the planet (well, some people work on projects to get resources from asteroids or other places..., but dreaming is allways alowed) and get whatever resource you need for modern life.
Or explained differently, a day has 24 hours, and that even at 11 AM of any specific day. Now, if you close in on 11PM of the same day, the length of the day has not changed, but your relationship (or your position in the trajectory) to the same day has. And there will be a major change in one hour's time.
you seem to have a deep misunderstanding of capitalism and free market economics. There is nothing about free market economics that will fail due to finite resources.
Computer generated rants (quasi AI) tend to do that.
Would you care to enlighten us about my misunderstandings?
So, I can make the necessary corrections.
Gladly.
Capitalism is based on ideas and creativity.
A hunter/gatherer forager sees two goats. Kills them and eats them. Has two meals and starves to death.
A capitalist sees two goats. Captures them. Builds a pen. Breeds them. Has three goats. Then four goats. Then six goats. Then nine goats. Then twelve goats. Etc. etc.
He then trades two of the goats for two shotguns to discourage the starving foragers from poaching.
Capitalism.
Ideas and creativity are not finite. They're infinite.
Hunter gatherers hunted and ate mammoths. Mammoths became extinct.
Hunter gatherers hunted and ate dodo birds. Dodo birds became extinct.
Hunter gatherers hunted and hate American bison. Bison (almost) became extinct.
Capitalists captured and raised chickens for profit. There are now billions of chickens.
Capitalists captured and raised cattle for profit. There are now hundreds of millions of cattle.
Does this give you any ideas about how to save the whales?
Ok! You made your point.
I can live with your ‘Simple’ and ‘Owner-Managed’ capitalist version….. Because the devil (tools of enslavement and exploitation) are on the details.
You've been working your big brain too hard.
Capitalism is not all that complicated.
What's complicated is all the complex pseudo-intellectual psycho-babble to justify stealing from productive people by lazy people.
"Capitalism is enormously productive"
Errr, nope.
Capitalism is only wealth re-distribution.
It is much better fun than socialism, but lets call it what it is.
Without the poor of the world, where would us western fat-cat smug succeeders be? Do you honestly think even 5% of us would survive in a fair world?
"Capitalism is only wealth re-distribution."
Unbelievable. You statists really have no problem proclaiming that up is down and black is white. It's second nature to you guys.
You're going to have to explain this.
Ten thousand years ago, there was no capitalism. Everyone lived as foraging hunter gatherers.
Your left wing sociology professor will tell you that hunter gathers lived a "subsistence" existence.
Subsistence = poverty.
There was no "wealth".
So, where did the wealth come from that is re-distributed by capitalists?
5351. MONARCHY, Preference for. — I returned from the mission [to France] in the first year of the new government * * * and proceeded to New York to enter on the office of Secretary of State. Here, certainly, I found a state of things which, of all I had ever contemplated, I the least expected. I had left France in the first year of her Revolution, in the fervor of natural rights, and zeal for reformation. My conscientious devotion to these rights could not be heightened, but it had been aroused and excited by daily exercise. The President received me cordially, and my colleagues and the circle of principal citizens, apparently, with welcome. The courtesies of dinner parties given me, as a stranger newly arrived among them, placed me at once in their familiar society. But I cannot describe the wonder and mortification with which the table conversations filled me. Politics was the chief topic, and a preference of kingly, over repub'ican, government was evidently the favorite sentiment. An apostate I could not be, nor yet a hypocrite ; and I found myself, for the most part, the only advocate on the republican side of the question, unless among the guests there chanced to be some member of that party from the Legislative Houses.
— T. Jefferson, The Anas, ix, 91. Ford ed., i, 159. (18 18.)
The Jeffersonian Cyclopedia, p 570.
What in hell possesed the new government to pick it's new Nat'l seat to be in New York, a city occupied for some 7+ years by the British, and expect it to be partial to anything but Tory, was pure foolishness.
I disagree with the author. It is not only the Fed (they are guilty though). It is also Congresscritters, banksters and every other piece of garbage at top of the heap in our country.
I called it the New Feudal World Order for years, and see nothing to indicate it will be anything but this.
Obama isn't clueless. He's knows there are 18 holes on a course.
Yep. In/Out, In/Out, In/Out - 18 times...
Yep. In/Out, In/Out, In/Out - 18 times..
Similar to his behavior with Holder in the rear!
There are 18 'shots' in a 5th of whiskey too... Wow! How did that happen?
Kismet.
If he keeps it up, Obama will go down in history as the last President of the United States ....
The only thing the despicable corrupt incompetent arrogant narcissistic illegal indonesian kenyan alien muslim sociopathic pathological liar jn chief fudgepacker is NOT clueless on is soaking tax paying U.S. citizen serfs & peasants to fund its celebrity grand imperial golf lifestyle.
Got rope & guillotines?
...and the Fed is a bunch of keynesian leftists...like obama who now claims inequality (that they've exacerbated) must be solved by "spreading the wealth around"
see how this works?
I doubt that Keynes would claim what is being called Keynesian.
Call it what it is, cronyism.
Nice to see some people finally zeroing in on the real target, the FED itself.
now just take it a step further and zero on "who controls the FED"?
Otherwise we risk becoming mired in the zombification that THE FED is simply an agendaless architectural edifice quarried from Indiana limestone which later became a summer swimming hole for the 'Cutters'
Sad that Stockman can't see this is exactly what Obama and his cronies want. He's not clueless, this is all part f his big plan to transform America.
Perhaps he does, but is trying to avoid being smeared with a "tin-foil nutter" label? It's no big secret after all, that government makes it's own demand.
Hegelism has been around far longer than Hegel.
Not just the Fed. It is just as much the government welfare/slavery system that keeps people dependant on the government and "poor" - with $60K per year of other people's wealth transfered to them.
The eleites who own and run the FED created the the "government welfare/slavery system" -they are one and the same.
The Fed is what makes it all possible.
False. It was created by the unchecked fractional reserve banking financial asset ponzi where pain phantom and senior claims on real flows of value concentrate in the financial sector over time via frontrunning of boom/bust cycles by abusing control of the effective money supply. The Fed is mistakenly handling it by giving TBTJ more leverage to abuse. It should take IOER strongly negative and buy gold in USD terms. That's all that's required to control monetary conditions.
Taking IOER negative will send those excess reserves chasing after yields. Are you sure you want that? Where would bankers find yields? You might be asking for hyperinflation sooner rather than later with that.
Really?!?!....no one can be that clueless. He has chosen to DELIBERITLY ignore the matter altogether the same way he claims ignorance about anything else that could matter such as the IRS/Lerner debacle, dying vets, Benghazi & others!!
Benghazi...OH MY GOD, RUN FOR YOUR LIVES!!!
Please Ronald (cut and run) Reagan averaged about a "Benghazi" every six weeks and the only response he did was to invite some Iranians to a tour of the White House and sold them weapons.
"Stupid is as stupid does." Forrest Gump
"Stupid is as stupid does." Forrest Gump
Stockman railing about inequality is priceless. It's a rallying cry the right has taken up recently as people have become aware of the problem. He (and they) don't give a crap about the "liitle people" and his entire criticism rings entirely hollow.
Big government rino republicans and big government leftist democrats have been running this circus for the last 30 years.
listening to a maggot lecture about inequality = priceless
Take what's left of your money to spend on ammo. Send a messages that way . Chose your local store first. But cabelas has some good deals as of late
a political reaction to inequality is coming.
will the response come from a new coalition of the radical left in america, syriza style?
or will it be the demopublican plutocracy?
Bullshit.
Their were large amounts of inequality before the FED, and it came down significantly during much if it's tenure. Yes, no doubt the FED is currently helping out the rich to an absurd degree, but the fed is merely a symptom of our problems, not the root cause.
Income inequality in the US has been on the rise for at least 45 years.
It's actually a little less than 40 years, but your point is valid.
However, attributing the FED as the root cause of it is ridiculous. The lowest inequality has ever been in the US was 1946-1978. Last I checked the fed was rapid during that time.
The real reasons are globalization, sped up outsourcing, many advantages of debt to the rich (this is where your point is very valid), destruction of unions, a corporatist drift in politics of both parties, and technology.
After 1968, it was on the rise.
http://research.stlouisfed.org/fred2/graph/?id=GINIALLRH,
And a lot of what you're talking about is facilitated by the Fed. The FRNs for that a lot of that stuff had to come from somewhere.
That a good chart,but it's only for income, not capital which didn't do well in the 1970's.
And last I checked, Scandinavian countries have central banks and some of the lowest amounts of inequality. Anyway, ascribing inequality to any one factor is sophistry and nothing more.
They were mildly socialist countries with the benefit of having enough energy reserves to support such a system. Once the growth goes away, so will their equality, and that growth is driven by energy. Our monitary system, of which the Fed is an integral part, is a ponzi scheme, and the real growth has stopped here. That means that the wealth is going to go whooshing to the top before the pyramid collapses. Even slowing growth down is enough to start pushing inequality up. The Fed system requires continued exponential growth on a finite planet. We were just lucky enough to see the system in action when such growth was possible. Now, all that is left is hairbrained tricks and corruption. Any system that requires sustained exponential growth will meet such an end, and our banking and Fed system is no exception.
The past 200 years of human history were anything but normal.
I disagree with that pessimistic take. The reasons ffor growth since the industrial revolution are not illusory nor temporary. I think you're ignoring the possibility, or certainty, of human ingenuity. Now we can argue whether this will create or destroy jobs, that's a valid argument. But advances will be made in medicine, energy, agriculture that will benefit mankind.
I somewhat agree with your take on our banking system. However, I'm less concerned with ponzi aspect of it (really just not holding enough equity) than I am with he debt over equity makeup of it. I think narrow banking or the Chicago plan from the 1930's is the way forward.
Another area of innovation that is happening right now...business's like the Lending Club are essentially doing it. Perhaps the TBTF banks will be taken down from the bottom up.
Lastly, to end my rambling, Sweeden, Finland don't really posses a lot of energy wealth. They have actual economies and low inequality.
Again, my only point is to say the fed is not the main reason why inequality is where it is. However, you are right as QE is making it far worse right now.
But government polices, or lacktherof, and natural market forces are much more influential.
That growth was paid for via debt. Those innovations were paid for via debt. GDP at last count is $17.7 trillion, yet total debt, public and private in the US alone is ~$60 trillion. The very large and unsurmountable discrepency between those two numbers is due to interest. Without inflation to pay the interest and growth to keep up with the inflation, the interest gets away. That is where the requirement for continued exponential growth comes from. That is why it is a ponzi scheme, and in order for that ponzi scheme to keep growing greater and greater inputs of energy are required. Further technological advances will also require even more energy. That is the growth at all costs meme, and even with R&D and technology, there are points of diminishing returns. The nature of exponential growth means that most poeple won't even realize that there is a problem to be averted until it is too late to avert the problem, and the Fed has been defending this tooth and nail with its magical 2% inflation target. Bankers, facilitated by the Fed both before and after Lehman, have somewhat papered over these problems via shadowbanking. That will come to an end because physics will always trump finance when physics and finance butt heads.
You should be concerned with the ponzi aspect of this, because supply chains are built upon it, and supply chains don't get rebuilt overnight when they break.
And I'm not sure what you're talking about with a lackthereof with government policies. Citi has been caught multiple times drafting legislation that would regulate the banking industry. There are very few natural market forces that aren't being suppressed because of such behavior. There are more laws and regulations regarding the banking industry alone than you can shake a stick at, and only the big players can afford to follow or break them. The same goes for just about every other major industry. In agriculture, for instance, look up the difference between what's required for butchering chickens (major industry) and what's required for butchering rabbits (minor industry that doesn't compete with major industries.) The little guys are regulated by the government to the point where they cannot afford to operate. Look up how many pages are in the CFR. This is allowed because the very rich have access to funding that you and I do not, and it's not just because they're sitting on a fortune. It has to do with discount windows, QE and other banking shenanigans. The magic term here is seigniorage income.
I don't necessarily disagree with your tone and tenor...
However, people have been shouting from the rooftops since the beginning of the industrial rev. that it wasn't sustainable. And guess what? Every time human ingenuity and innovation have carried us through with finding new sources of oil or better yields on crops. And tomorrow they will find out how to harness solar and wind power more efficiently.
As far as govt policies....I was referring to polices that benefited the rich and polices that ARENT enacted that benefit the rich...
You are also right about the structure of how our gdp is very dependent on debt. It is. However it wasn't always like this. We had tremendous growth in the past based on equity and not debt. That's my point. That's what we need to get back to. Now you're right it's all debt.
Silver Bullet
“Intelligence is a kind of lethal mutation” — Ernst Mayr
I strongly disagree with you about human ingenuity. I think it is a fantasy, just like religion and politics.
Most human progress are not very well matched to where our greatest needs are.
We are on the eve of the twilight of the fossil fuel era and still have no energy source to continue human civilization as the fossil fuel era dies out, we're not even close to having one (Lance Sjogren).
Let me show you how critical our situation is becoming:
First: Energy
The data below is barrels of oil per day per rig.
Middle East
2000 Average: 140,144 / 2014 Average: 59,945 = Decline of 57%
US:
2000 Average: 6,465 / 2014 Average: 4,577 = Decline of 29%
World
2000 Average: 36,148 / 2014 Average: 21,698 = Decline of 39%
http://peakoilbarrel.com/rig-count-drilling-less-oil/
Second: Finance
In 2015 AD, humanity condenses into a single couple of superhumans.
While increasing the total debt by $1 provides an at least $0.01 growth in the nominal GDP (immature debt), the system can grow by exponentially increasing the amount of new borrowings.
When the growth in the nominal GDP per $1 of new debt becomes zero, refinancing the accumulated debt and interest becomes impossible, and the system implodes.
http://2012wiki.com/index.php?title=Novelty_theory
unsustainable-yup. debate the problems as you all may, but sound money would buy time til the inevitable-TOO MANY PEOPLE AND THAT IS UNSUSTAINABLE NO MATTER HOW YOU SPLICE IT AND DICE IT. so enjoy your life as you "form it in your mind"and the reality of income/purchaseing power. money contols your level of existence. all stockman is pointing that out, plain and simple, is that wealth is changing very fast by plebing common people to subsistence. just another red/blue debate to distract the idiots(again). it should be noted that current policies are speeding up the process to the inevitable...we are headed for war over dwindling resouces, another plain and simple conclusion. maybe that rabbit hole will become very attractive, ha...
I wish I could upvote you 100 times! You are exactly correct. And I see way too little of this kind of fact based rational thought with respect to our economic plight. We can fix this - all it takes is the right kind of people in leadership positions. I just hope we haven't lost the ability to produce them.
Ouch!
We have a date, Raoul_Luke….. And I am not talking about a romantic appointment.
By Dubaibanker
I say that it will be sometime in March.....or latest by June.....countries that are NOT insulated from the collapsing EU and US banks or the USD and EUR will also go down and take their economies, banks, real estate..everything down with them and another few million will be jobless around the world before June 2015, sadly!
http://www.zerohedge.com/news/2015-01-30/it-begins-energy-giant-chevron-suspends-stock-buyback-blames-cash-flow-squeeze#comment-5726005
Once income inequality picks up, wealth inequality is sure to follow. It's only a matter of time, unless the whole system comes crashing down first.
Silver Bullet
..... capital didn't do well in the 1970's.
I think you should check the link below
http://research.stlouisfed.org/fred2/graph/?g=Dnc
Stick to your day job mopping floors. Your comments are so pathetic it's honestly a good laugh.
Last I checked the US was still on a gold exchange standard with the exception of the last 5 of those years and during the beginning of that time period the entire rest of the developed world was decimated from WWII with the exception of the US. If you don't think printing money is the leading cause of wiping out the middle class and thus increasing inequality you're delusional.
That’s a good, and corrected comment….. compared to the one you wrote above it.
QE (free-money), pretty much, started after WW-2. And helped built the middleclass.
The exponential factor of QE, and the growing demographic that needs it for their survival, will become a real problem.
your big picture and long timeline views and facts are enlightening to all who can see that far, ha...
Thanks!
Just trying to make sense, and recognize as clear as I can, of all the political, educational, and religious nonsense written; so, when I see the madness when all these plays are done, and, if I survive, I will be able to articulate as clear as I can.
You have no idea what you are talking about. The FED has deliberately contributed massivley to unprecedented inequality. It will cause a real revolution. That's why the degenerate elites have created the Police State, armed Homeland Security to the teeth for war on Americans, and set up FEMA camps -- camps that could very well be the death camps that Hitler has been alleged to have created.
I have no idea what I'm talking about? Haha
FEMA camps? Death camps? Hitler?
And I never said the fed hadn't contributed to inequality. In fact I said that it did, it just isn't the root cause.
It is all about a loss of jobs. Some measure of protectionism and CLOSED borders has merit.
What proof is there that QE ever worked anywhere to increase productivity? To paraphrase Lord Acton: The greatest economic heresy is that any PhD employed at the Fed knows anything about increasing either productivity or growing an economy.
Another idiot that just doesnt get the bigger picture. I hope these pundits wake up soon to the fact that all these people in power are not clueless. They know what they are doing and sold their souls for the short 'good life' that their filthy fiat buys. God damn them to hell.
"President Obama is clueless as to the cause..."
The big, and I would say incorrect assumpiton, in that statement is that CIA-Obama is looking for a clue.
And then there is the naive assumption that a psychopathic, CIA, neo-con manchurian candidate, and Zionist stooge, gives a shit. CIA-Obama is nothing but an Underboss in the empire.
The banksters need to repay us.
Yeah, I've never seen Obama in work mode. Not once.
I realize that leadership is often expressed by public announcements or speeches like those of the vocal/oral B. Obama. However, posing, visiting talk shows, and making speeches is just an act, acting like a president.
No one is that stupid that they take on the presidency and turn their back on all the problems they were spouting about in the campaign. Like his first campaign or not, he is a typical lawyer and typical politician... just a fake, a liar. A puppet.
CIA was in trouble in 1973, 1974, 1975... then they get George H.W. Bush in as V.P.? WTF.
CIA has controlled the White House since 1980 at the Latest.
Obama takes after his distant cousin, Dick Cheny and grabbing cash.
They are all on the same team.
when stockman runs a ponzi zhers love him cuz he luv gooooldddd.
when yellen does it they hate her for it. lmao i would trust yellen with my money more than that connecticut windbag.
Don't worry Yellen and the Democrats just had a powwow. They've got Hillary's 2016 presidential campaign all figured out....oops, I meant inequality. Expect Potemkin Village USA to continue until after the next election.
The Fed may make things a little worse by working in parallel but they are neither the cause nor the solution of the main problems, their crimes are entirely separate.
When will people realize the 'right/left', 'Republican/Deocrt' dichotomy is simply a 'divide and conquer' scheme - a way to give the sheep the illusion of 'choice'.
Do you really think there's a difference between Kang and Kodos?
BOTH political parties in the US (and don't think you'll ever get a real third alternative unless it's a meglomaniac billionaire/future tyrant) are screwing the masses.
BOTH push 'Free trade' - massive and ongoing job outsourcing that continues to destroy the Middle Class.
BOTH pander to big money and put Wall Street ahead of Main Street
and - despite denials - BOTH are continuing the neocon agenda of never ending war in the Middle East - overthrowing nations (Obama checked off LIbya and is working on Syria on the PNAC hit list) and believing the US can and should impose its will on the rest of the world.
All true. And I'm sure most all of us here fear that the ignorant masses are never going to understand it.
An absolutely pointless posting.
"I'm smart, everyone else is a fool".
Got it.
So, now what?
"The Fed is doing all the work, because the President’s policies are growth-suppressive...."
This Presidents "policies" like all Presidents since 1913 has been to suck bankster cock.
Obama is not clueless - he is pretty smart because he KNOWS all this is fake. But he is once and always a TALKER/Speechifier, not a doer - except when it comes to using drones! Obama knows that the FED is at least nominally growing the economy and creating jobs (by numbers, not income).
Obama would have loved to raise taxes, but there was/is a fat chance of that!
The Fed is likely to keep this going till the election (ZH pointed out Yellen's "private" assurances to the Democratic congressional leadership a/k/a "insider trading" elsewhere). Of course, the interest rate free money game will end at some point, and if a Republican is the White House with control of congress ...no one will say it was the Fed!
o is living like a king in world of endless wealth for the king. keep the system status quo and enjoy 18 holes of golf with all the privledges of being king. i say no thanks because of one main reason - i care about my fellow mankind. he is the worst leader to be prez., but i must give him credit for bringing the inevitable forward on a fast track to a major war, another inevitable outcome of mericas' policies on steroids. bush ramped it up and now it's full retard on a warrior mentality of winner take all. hopeless dude, enjoy this day and everyone til all hell breaks loose...
No fan of Obama but he is no fool. The man knows how to teleprompter even the most hard-core right-winger into submission. All they can do is rage against the machine.
He has been been raised since youth on a steady diet and helpings from our most favorite ABC agency. The agency is working hand-to-hand with the Fed as part of the programmed collapse or recollection of America into the hands of the technocrats (monetary, defense, et. al.).
Their model is China and the future of America is one of a complete state-run corporatocracy not unlike the Imperial model (what a coincidence). People have forgotten so much about how the crown operates that they are completely blind to it today. All the left-right crap is there to keep you in a trance.
6.5 million quit looking for work
+46% food stamp enrollees
+23% Americans in poverty
+17% health care
+55% federal debt
Highest Dow Jones 18,024
Highest S & P 2,087
Obama's Legacy
It's bad enough that the MSM refers to Obama as "the President" when many Americans understand that he was born with dual British/American citizenship and renounced that citizenship to attend Indonesian schools, renewed his Indonesian citizenship (and vow as an Indonesian citizen) at the age of 18 meaning that he is not qualified to be President and is not legally President of the US. I would expect ZeroHedge to use the proper term "alleged President" when addressing him.
I dislike Obama, but I'll defend him over stupid bullshit.
When people refer to you as a human, they should also put "alleged" in front of it.
God you're a fucking moron.
Obola's legacy has a grand finale - when the FED raises rates and all the carry trades and super-galactic leverage unwind, and the financial markets sell off like a frantic race for the exit.
So, what you are basically saying here, is that for the elite, everything is going according to plan. When the welfare checks stop coming and the riots begin, the sheeple will demand martial law. Checkmate!
To paraphrase Red October, your average Rothschild doesn't take a dump without a plan.
Yeah, it is interesting the choices we end up. Bad or worse.
- Like how can we arrest the process going on in congress
- Like how can we force congress to stop FED QE & ZIRP
- Like how do we drive congress to return the US to a nation of Peace
- Like how do we push congress into breaking up TBTF & Other Mammoth Corporation with too much power, control, or to much Exposure to Bad Assets & Bad Derivatives
- Constitutional Convention
- Article 5
- Military Soft Coup
- National Referendums
You see the only answers can lead to a greater police state. Check Mate.
United States of Oligarchy led By a Temporary Emperor
Funny thing about the banksters (doing Gods work) when they occasionally get things "right" for a quarter they all huff and puff. When the shit hits the fan they just stand there, look left, look right and find the first polititian to blame.
Obama is a dumb black muslim
So the best person CNBC could dig up to interview a genius like David Stockman is this air-headed twat? As she herself might say: "Seriously?"
Anybody got a link on Social Security Borrowing? I got this from Clesthenes:
" These surpluses (now about $2.5 Trillion) were loaned to the US Treasury for general disbursements. "
Seems like Congress borrowed from Social Security during the Vietnam War, since USD was still linked to Gold we hated deficit spending, we still had a US Constitution, and still performed conservative accounting.
- David Stockman would probably know, but this was 30 years before the internet