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Guest Post: Spreading The Wealth Around
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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...fear not, judgment never comes.
All you voters that accepted the two party system, just remain as you were. Don't go anywhere, you will be fine. LMAO. If you are working as a government employee, in defense of this system, lol, just remain at your post, you will be fine too. Lol. If you are working in general, everythings fine, just keep on working away. Lol. Buy this market S&P 666 low and sell as high as you feel, everything is fine, and go ahead and accept the golden calf the Fed is building for you, it's fine. Lol.
Thank you.
Your friend in spirit and deed, Satan (AKA U.N.Sealed Host)
http://www.youtube.com/watch?v=QWUcO-qIBfA
remember FDIC, you shall not surely die.
When will his supporters wake up?
Steve Keen in Australia has it figured out. Next time we should bail out the debtors.
There are two main problems: too much debt, and a financial sector that is way too big. This solution addresses both.
Give everyone a cash payment. If you have debt, you're required to use the cash to pay it down. If you don't, you get cash to spend as you please.
This would shrink the amount of debt outstanding without bankrupting banks. It would shrink the size of the banks' balance sheets. And it would provide funds to stimulate spending.
We're gonna spend the money anyway. But instead of the current plan that just props up a failed system and failed debts, this actually gets a benefit for the economy and society. We're gonna spend the taxpeyer money anyway.
American income inequality is back to where it was in 1928, and the so-called republicans and that segment of the rich and very rich that is decadent are responsible.
Hades! They do not even understand economics, all that matters to them is their greedy bottom line. They cannot see that if America's economic pie grows, their slice gets larger too.
We have a say in French: "The printing press (assignats) and the guillotine are complementary machines, one inevitably brings the other". The same will happen again.
Do you mean to say we are once more going to see bourgeois agitators who could have been lifted from the scribblings of de Sade's sexual fantasies rousing the rabble and calling for heads so that they may themselves take power and fashion the state in their image?
Rally Warning from last week:
'Daily chart now gives bullish warning and significant
SPX rally & USDX retracement should commence in a week or so'
http://www.zerohedge.com/news/2012-12-24/market-analysis
Obama is a lawyer. This means he is highly confident in his word play, and ability to intellectualize an argument to the nth degree. Catering to the masses with rhetorical flourish and winning their votes is something that all lawyers with their eye on political office do. It is no accident that so many of our Presidents have been lawyers; they tell us what we want to hear and make us believe they came up with the ideas to begin with.. and we shower them with votes and thunderous applause.
At least in Rome they got bread and circuses to go along with their fleecing. We just get commercials.
I will assume that Obama means well. His problem there is that he gave the keys to night watchman who have every intent on pillaging the granary on behalf of their friends. Obama turns a blind eye or gets defensive of his friends, and doesn't care about the damage to the public trust that ensues.
Lawrence Summers should have never been allowed inside the beltway. Timmy should have been thanked for his service on the Fed and given a brass watch on his way out the door. Sheila Bair should have been promoted to Treasury (being the only Bush appointee with an apparent head on their shoulders) to kick some banker a$$.
Now, we are all going to be subjected to an auction-election, with bids placed by commercial proxy.
If I were elected President I would put a Tivo in every household, so that no one would have to be subjected to this nonsense every four years.
Lawyers should have been constrained to the judicial branch of govt(and the Dept. of Justice in the executive branch).