Guest Post: Spreading The Wealth Around

Tyler Durden's picture

Submitted by John Aziz of Azizonomics

Spreading The Wealth Around

Under Obama, corporate profits have soared to all-time highs:

Rentiers are doing better than ever; rental income has exploded and almost doubled since the recession (bubble-watchers — this is a huge one):


Yet employment still hasn’t recovered:

Income inequality under Obama has grown at a faster-rate than under Bush or Clinton:

All that debt Obama acquired, and all the stimulus did work to redistribute wealth and income — it worked to redistribute wealth and income toward the well-connected crony capitalist groups that funded Obama into office.

Obama can talk all he likes about cutting taxes for the middle class; the data shows who Obama’s redistribution policies have overwhelmingly favoured.

Of course, leftists and statists often end up favouring the super-rich. That’s been the underlying reality of communism — politburos, bureaucrats, technocrats, party members all benefit at the expense of everyone else (in spite of all that proletarian rhetoric).

Inviting the state to carve up national income and redistribute it is an invitation to corruption, and graft. Obama talks an updated version of the old communist rhetoric about redistributing wealth to the working class — he even adopted Stalin’s slogan “forward” — yet just like Stalin the reality of his policies is more wealth for the richest and most well-connected. What a surprise.

He continued and expanded the Bush bailouts of failed companies. He reappointed Ben Bernanke, who has hovered in his helicopter above Wall Street throwing out money to the well-connected rentiers and corporations. And his stimulus package went to his own donors like Solyndra who frittered away the loans he guaranteed.

That’s been the reality of “spreading the wealth around”. When will we wake up?

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LetThemEatRand's picture

Obama like all politicians for the last 40 years is a supply-side trickle down guy.   Perhaps it is indeed related to where most of the campaign money comes from.   Or it's so well established in the MSM that even supposedly liberal democrats are every bit as supply side as RR.  The socialist talk from O is nothing but rhetoric.  He's not accidentally making the rich richer through some failed attempt at socialism.  Ironically, when it all comes crashing down we'll hear that we need to give more money to the wealthy to permit a recovery.

Seize Mars's picture

LetThemEatRand: "Obama like all politicians for the last 40 years is a supply-side trickle down guy."

I don't think that's accurate. Or perhaps if you mean in the same sense as Stalin. In other words, he is not that thoughtful or considered as some would imagine him to be. The same goes for GWBush. These guys, the two of them, just aren't that smart to be "supply side trickle down" guys.

Obama is a taker, plain and simple. Once you see, at close hand, the politics of a Chicago alderman, you get it: it's the same thing. He (Obama) believes that there exists a trough of cash, he doesn't understand where it comes from or care. He wants control over it so he can have power over people. So in his mind it's not about economics at all. He doesn't care about economics, capital formation, whatever. He just wants to be the strong man with power.

LetThemEatRand's picture

That's what the Red Team pundits want you to believe, because if you accept that the Red Team and the Blue Team are both working equally for the oligarchs, then people may stop thinking their vote matters and actually do something about it.  The charts above are not accidental, and you'll notice their direction is consistent since Reagan despite numerous shifts in which team had control.

jeff montanye's picture

yes it is fair enough.  as you wrote, bush2 and obama are peas in a pod, except obama is easier on abortion and gays, tougher on whistleblowers and killing citizens without trial.  here's the same story from a leftie: http://www.nakedcapitalism.com/2012/04/growth-of-income-inequality-is-wo...

xcehn's picture

How could it be otherwise. The ruling elite have always been and always will be primarily about preserving the system that benefits them. A limousine liberal steadfastly insists the system can be reformed/tweaked. Diehard statists, red or blue.

DoChenRollingBearing's picture

+ 1, nice comment and great article by John Aziz.

Enter to Win Dinner with Barack!  Collecting that mailing list, bitchez!

greyghost's picture

finally someone who gets it.......communist or facist or nazi...does not matter. only the words are changed to protect the guilty. when will people wake that there isn't a dimes worth of difference between these groups. can't wait for the next glowing report of communist parties winning in europe...oh wait or is it nasty glowing remarks about nazi parties winning in europe? i'm confused...well i will just have to wait for the next zero hedge headline about some minor party to a the minor party of the minor party winning some minor election while communist parties are ignored. now how many votes did the golden nazi party win in greece? damn i am so far behind the curve...it is all about the pain in spain. when oh when will the franco party rise again...stay tuned zero hedge will let you know.

prole's picture

Except that is totally not true. Commies and Fascists differered over something, else why did they cross swords? IIRK Fascists rode through the streets in open coaches to adoring crowds. Commies to this day appear only to limited audiences, and any serf allowed within 100 miles of the party secretary goes through multiple layers of groping to get there.

PS- I knew the Commies would show up here to defend their God Government/Socialism. LTER did not dissapoint with his quick redirect comments

midtowng's picture

Who exactly are these "limousine liberals"? As far as I can tell most of the people riding around in limousines are rather wealthy and conservative. They also don't want to change the system.

NidStyles's picture

Riding around in a Limo sort negates the whole being Conservative thing. Not that I expect any of you retards to have figured that out here. 

 

So weird the current influx of you statist pieces of shit lately.

Jena's picture

Ah, you've never been to Los Angeles, specifically the Hollywood Hills, Brentwood, Westwood, Beverly Hills, Malibu.  You'll see them in their native habitat (with full security) and quite full of themselves.  They have no compunction about telling you how the world ought to run -- except don't expect them to stop using their private jets or any of the other perks they enjoy even as they decry the carbon footprints of the masses.

That being said, I fully support their right to enjoy the money they have earned in whatever way they wish.  But make no mistake, they do they exist.

Diogenes's picture

Limousine liberal = someone who supports every liberal cause but cheats on his income tax and employs illegal Guatemalan household help for less than minimum wage.

TrulyBelieving's picture

yes Diogenes, but now your gonna ruin midtowng's pristine view, for he imagines all that are rich and drive in limo's are those rascally conservatives. 

CaptainObvious's picture

A limousine liberal is someone like Al Gore.  Gore brought us "An Inconvenient Truth", a documentary about global warming that is supposed to have been caused by the burning of fossil fuels.  And then to promote that movie, he flew from coast to coast in a private jet that burned more fuel in one trip than the average driver uses in a year.  A limousine liberal espouses the leftist causes, but does not apply those standards to himself.  Yes, says the limo lib, we must stop using coal to generate electricity and we must shut down all those nuclear plants to save the earth!  And then the limo lib plugs his electric car in for a charge that is generated by coal or nuclear.  We must stop destroying the habitat of the spotted owl, says the limo lib, so you cannot go logging in this forest!  And then the limo lib installs a windmill that chops 175,000 spotted owls to bits every year.

In short, the limo lib is content to tell you how YOU must live YOUR life, because he already got his.

post turtle saver's picture

You know, people say 'Mojo, you're always complaining about everything

Why don't you vote in the election, why don't you become involved in the electoral process'

Huh uh, oh yeah...

'Vote for Clinton, Mojo, it's gonna make everything nice and new and neat'

We got one fool just as big a fool as the other fool

Ain't nothin' changed, same fools ridin' around in the black cars

We still ridin' around on the subway

Ridin' around in the bus

We ridin' around in a 1978, you know 1978 El Torino or some damn thing

Leakin' oil, ain't got no money

Gotta pay taxes, everything's screwed up

I ain't gonna take it no more I'm gonna start an armed insurrection

I'm gonna go to the hills of West Virginia and

I'm gonna liberate some guns from a National Guard armory and I'm gonna start an armed revolt because

Sometime in the course of human events it becomes necessary to disassociate yourself from the ties that bind

I'm gonna break them ties, I'm gonna bust 'em up

So there I am standin' around the campfires in the hills of West Virginia

And the flames are shootin' up high

And I happen to be the head of the armed insurrection rebel alliance

And I'm gonna sing our brand new, our brand new national anthem

It goes something like this...

'You can't kill me, I will not die not now, not ever, no never

I'm gonna live a long, long time

My soul raves on forever!'

 

"You Can't Kill Me", Mojo Nixon

HoofHearted's picture

Thanks for the song. Youtubed it, and now I'm finding more good stuff from Mojo Nixon.

robobbob's picture

nothing in the about comment makes it exclusive. Team Red and Blue both work for the same owners. And the owners tend to choose managers who carry out policies that are in their favor. I don't think they're too concerned over why they do it. what better choice than a manager who knows how to play ball?

Bob's picture

The real joke is that people still fall for this shit.  Witness the angst of the "Liberty" Movement wrt Republican Rand Paul. 

At least they've got the endless war against all the communists in our midst to keep them occupied.

Meanwhile, the Corporatocracy rolls on. 

GeneMarchbanks's picture

Corpo-fascism actually. But again, that is somehow also the inevitable result of socialism and/or communism according to those great social theorists you have at your disposal over there in America.

 

Bob's picture

Could it be that I've been asleep . . . and it's really been just US Citizenism all along???

Fuckin' A. 

nmewn's picture

Shitting on the side of the road creates government job opportunities for pooper scoopers...it's a statist concept I don't expect a job creator like yourself to appreciate ;-)

Jendrzejczyk's picture

Private sector entrepremanures would be best.

nmewn's picture

I got it ;-)

Yes they would.

In a closed loop system (where taxes pay for all government operations) this is how it's done. But many want to ride fantasy pink unicorns into oblivion...which is fine as far as oblivion goes...we will rebuild without them or the unicorns.

midtowng's picture

The problem with so many in the Tea Party is that they don't understand the words they are using.

Communism, socialism, fascism, femanism, atheism, muticulturalism, homosexualism, and every other ism out there is all lumped together in their scary word list. They don't really see any difference in those words and they use them interchangably.

Cathartes Aura's picture

heh, nice one. . . when you get their "demographic" then you'll get why "everyone else" gets the pointy finger!

+1

prole's picture

heh, nice one... you're both Commies. Why not be honest and defend Stalin, Pol Pot?

Defend the killing of 10 million Ukrainians. Weren't they just the "broken eggs" you have to have to get your Socialist omelette? Why don't you defend Solyndra?

NidStyles's picture

No the real problem is you fucking useless eater statists come in speaking to us like we are ignorant children and call us Tea Party people. Get a clue you moron.

TrulyBelieving's picture

The problem with you midtowng is that all you can spout from your lying lips are generalaties you cannot possibly prove, but it sounds good and will make you feel better about your own pathatic beliefs. The isms you name are all controlled by statist that wish to bring my freedom and liberty to an end, of course for the good of all mankind. And in this struggle for us who wish to keep our liberty and stand against this tyranny, you are on the wrong side, and you with all your statist minions will lose. Good will triumph and your lousy evil will go down in defeat. Now go back to your parent subsidized basement and ponder your demise.

nmewn's picture

"The problem with so many in the Tea Party..."...is ism's?

Really?

There are no such things as statists, communists, fascists, atheists, socialists etc.? So not only do you wish to ban ism's from the lexicon you make your intentions known to ban ist's as well...lol.

Perfect, you've just made their point.

 

 

F. Bastiat's picture

Worth repeating:

As documented by Igor Shafarevich in his seminal works "Socialism in our Past and Future" and "The Socialist Phenomenon", there are three main activities of all "socialists" engaged in "socialism":

1. Attacking private property
2. Attacking the family
3. Attacking Christianity

jeff montanye's picture

attacking christianity?  not religion generally?  specifically christianity?

prole's picture

Worshipping of the State. Lenin as God, the God Government, worship of Power, these religions they generally don't attack.

Not to mention "Father Abraham" no Commie has ever questioned the divinity of his blood-soaked hands

Lebensphilosoph's picture

Yes. How else could it be politically correct to mock Christianity and politically incorrect to criticise Islam?

F. Bastiat's picture

As Gasset  noted in "Revolt of the Masses":  " ... the collectivist cares not to give reasons, or even to be right - he's simply resolved to impose his opinions. And that's the novelty of it - the "right" not to be right; the "reason" of unreason. 

Very, very primitive stuff.

Bob's picture

 

"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a Moral code that glorifies it."

 

Your namesake said that.  Why would it not aptly describe the inevitable decay of capitalism per se that some think we are witnessing today?

F. Bastiat's picture

The very use of the term "capitalism" implies acceptance of false marxian premises. The correct term for that which is compatible with liberty is "free enterprise".

Bob's picture

So you don't understand what I'm talking about?  Having such a superlative command of the language and all?

C'mon, you know what I'm talkin about. 

F. Bastiat's picture

I'm saying that plunder and free enterprise are incompatible. Where there is plunder there is not free enterprise.

Bob's picture

That's a convenient tautology.  No wonder shit happens as it does.

At least we know that, by definition, it can't be plunder. 

Even if it's child prostitution.  As long as property and familial rights are properly respected . . . say, the money goes to the family.

Unless they're gay, of course.

midtowng's picture

Huh? Capitalism is not a term that Marx created.

TrulyBelieving's picture

Ok midtowng, you tell us in your infinite wisdom where the term 'capitalism' came from? 

nmewn's picture

He should get a red for using an "ism" in his text...but my libertarianism won't allow me ;-)

TrulyBelieving's picture

Greetings NMEWN. Have enjoyed reading your comments. Your unusual sarcastic style of writing is always amusing. Thought to drop a line and say hi.

nmewn's picture

Salutations TB,

Sorry for the delay, had to cut up onions & peppers for stir fry, always good to know someone appreciates sarcasm (without the tag) as we swirl around the fiat reality commode.

I see today Karl Rove has come out for continued government subsidation of wind power, whocoulda noed a friggin windbag would support such a thing...lol.

F. Bastiat's picture

Actually it was Werner Sombart in his 1902 magnum opus.  It's not clear that Marx even ever used the term "capitalism".

Werner Sombart was a German marxian socialist who became a German national socialist.

Freewheelin Franklin's picture

"Obama like all politicians for the last 40 years is a supply-side trickle down guy."

 

"I don't think that's accurate."

 

Actually, yes it is. Perpetual, creeping monetary inflation is a type of "supply-side, trickle-down". And since every president since Roosevelt has been inflationist, then the statement is true.

jeff montanye's picture

if the data in the chart of income growth distribution by income level is accurate it isn't very accurate to call obama a trickle down guy.  looks like he's cut back the trickle to a slow drip.