Thursday, September 23, 2010

Idiot Obama: As President Obama crows about his administration "ENDING the Recession," everyone with a brain knows that ONLY the top-10% feel any uplift... and most of their "financial gains" have come from the TRILLIONS of dollars of TAXPAYER EXTORTED "bailouts" Obama's crew has handed over to Wall Street...

"Recession's over, economists say to a skeptical public" -
"A declaration that the turning point came in June 2009 gets an indignant reaction, showing that many Americans see little difference between the recession and current conditions." (Don Lee, LA Times, Sept. 21, 2010)
 While two headlines from today's  so-called "liberal" Huffington Post echoe the above LA Times headline, another 3 of today's HuffPost headlines  reveal the real story:
 if President Obama really believes that America is OUT of a Recession, as he and his White House PR team have been crowing lately,  then he is DELUSIONAL...
...And if Obama is just spouting off the talking-points of his Emanuel/Rubin/Summers/Giethner/Bernanke/Gensler/ "of, by, and for Goddamn-Sachs" presidential  economic wrecking crew,
then he is just another two-bit swindler like they are....
The Recession Is OVER, Says Economic Panel 
AP, Sept. 20, 2010
 (AP, Jeannine Aversa):   It's official: The longest recession the country has endured since World War II ended in June 2009, according to a group that dates the beginning and end of recessions.
The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., says the recession lasted 18 months. It started in December 2007 and ended in June 2009. That was the longest of any recession since World War II. Previously the longest postwar downturns were those in 1973-1975 and in 1981-1982. Both of those lasted 16 months... (cont'd)
 andObama: Reforms, Economy Are 'Moving In The Right Direction'

 Digging just a little deeper into HuffPost's other headlines shows the abject folly of such  ivy-tower feel-good proclamations, and for Obama's grasping-at-straws of such delusional talking points:   While "The Bureau of Economic Research" is just  another typical government-funded "research group" or quasi-government  think-tank, only a fool would claim  economic "victory" in an election year when most Americans LOST money, wealth, jobs, and purchasing power.
  1.    Warren Buffett: It's 'Common Sense,'We're STILL in a RECESSION' 
  2. 400 Richest Americans Got Richer This Year, As Most Americans' Net Worth Tanked: Forbes
  3.  Democrat Senator Al Franken: 'Foreclosure Paperwork Scandal Shows Need To Strengthen HAMP'; "The revelation that massive numbers of foreclosures may be tainted by bogus paperwork from mortgage servicers is further evidence that the Obama administration's anti-foreclosure efforts need a pro-homeowner boost, says Sen. Al Franken (D-Minn.)."
  4. (And just to confirm #3, above, this tidbit of "wonderful" economic news - "Obama Homeowner Program Hits 10-Month Low As Prices Drop And Foreclosures Surge"
  We hate to be blunt, but only an IDIOT would be claiming victory in the economic battle against America's 2008-2010 Recession...  at a time when "most Americans' Net Worth Tanked,"  and while the administration's much ballyhooed "anti-foreclosure efforts" are seen by a sympathetic Democrat Senator as AIDING and ABETTING  FINANCIAL FRAUD by mortgage holders and banks foreclosing  against American citizen/homeowners! 

    Meanwhile, at 3:57 minutes into this RT video, Max Keiser explains the common denominator, or underlying theme, of the above disjointed headlines: for every dollar of GDP growth that American "economics researchers," government statisticians, and Wall Street propagandists claim for America's economy,  it now takes SEVEN to EIGHT DOLLARS OF DEBT, to create that one dollar of (so called)  GDP growth!
  In addition to pointing out the MOUNTAIN of DEBT burden that Obama's treacherous  Summers-Emanuel-Geithner-Bernanke-Gensler   (Rubin's Goddamn-Sachs  minions) wrecking crew  have helped  the Goddamn-Sachs/JPM-Chase/Citi/BoA (et al)  financial swindlers pile  on American small businesses, industries,  working families,  homeowners, and taxpayers these past years,  Max and co-host Stacy Herbert also point out that China is now leading the world - not America! - in technological innovation,  China  filed for thousands of technology  patents  last year - a PREDICTABLE consequence of the Goddamn-Sachs-Rubin-Wall Street Neo-Con Hedge Fund swindlers OUTSOURCING  of U.S. jobs, factories,  entire industries, and technologies to China over the past 2 decades.
 post-script: Max's above 26 minute video is so good, it should be deconstructed into several parts, and in particular Max pointing out that,
A.) the United States government is now effectively the coercion, or extortion, arm of Goddamn-Sachs and the  Jewish state (Israel)  war lobby; 
B.)  and that all of Wall Street's "profits," and in particular the entire raft of Fannie Mae & Freddie Mac housing prices, have been ARTIFICIALLY INFLATED  by GOVERNMENT "bailouts" and "pumping and priming" of the financial funds - 
 Wall Street & America's housing market are now  effectively 100% "socialized," entirely dependent on  profits for bankers  guaranteed by "bailouts"   (government extortion of taxpayers) while home prices are COMPLETELY DEVOID of  any  "free market" pricing mechanism relating to supply and demand!

    In short, it is not entirely unfair for "Tea Party" and Right-Wing Republicans to accuse Obama of "socialism" -  he is SOCIALIZING Goddamn-Sachs' and Wall Street's FAKE, ILLUSORY,  "bailouts" based "profits," while extorting American working families, who can no longer afford the (underwater) debt mortgages on their own homes! 
  Perhaps "socialism" in the classic sense - redistribution of income based on egalitarian principles or citizen need - is not the correct word.
  Instead, a better term would   the Goddamn-Sachs led   COMMISSAR  SEIZURES of wealth and assets - for the benefit of the GS and allied Wall Street swindlers - to more accurately describes Obama-Summers-Emanuel-Bernanke-Rubinomics.
   Indeed, one of the subjects that has been whitewashed out of American textbooks and history narratives over the past 5 decades has been so-called "Liberal" President Franklin D. Roosevelt's  GOLD SIEZURE ACT of 1933, ("Executive Order 6102") and the related "banking 'HOLIDAY'" President Roosevelt used to "stabilize" the nation's banking and currency system. 
What even a casual examination of Roosevelt's actions indicates, is that
#1. the wealthiest, most financially connected Americans could easily ship their gold holdings beyond U.S. borders - either to Canada or to Swiss or other European banks, and thus out of reach of U.S. siezures;  and, 
#2. only small investors were wiped out by the "Banking Holiday" - again, the wealthiest, savviest investors had their holding DIVERSIFIED, including currency and gold held in foreign banks, and for the very top wealthiest autocratic families, while their notational wealth may have gone down with the Great Depression, "Banking Holiday," high marginal tax rates, and gold confistication acts, their RELATIVE BUYING POWER and political influence went UP dramatically, after millions of Americans became mired in abject poverty.
   Clearly, "Conservative" dominated media outlets and textbooks, while eager to criticize the (so-called) "Liberal" President Roosvelt, would be reluctant to discuss the Gold Confistication Act of 1933, for it would point out how the wealthy could own gold held in foreign banks, and privilege denied to ordinary Americans. 
  President Barack Obama faces an identical scenario today: a so-called "Liberal" president who in enacting and empowering RIGHT-WING economic policies that FAVOR THE WEALTHY.   We now know that 1933 marked only the first few years of a deep seated depression that would last for nearly another decade, until WWII spending (and mandatory savings, rationing, and high tax rates) generated full, high-wage employment.   Absent the most incompetent of Republican presidential candidates, it is unlikely that President Obama could withstand dim re-election prospects in the midst of a 4 year recession...
   And absent a correction of Obama's economic policies that FAVOR THE  hyper-WEALTHY and connected, bailed-out Wall Street economy-killers,  it is unlikely that America will be out of a recession in 2 more years, either.

post-post-script: Summing up all of our above comments,  this article confirms our above notion that any declarations that "the Recession is Over" are delusiional, and that, far from offering any "Change!" to hard-pressed Americans, President Barack Obama's presidency has instead  been a dismal CONTINUATION of the disastrous  "loot the majority, enrich the Top 1%"  policies of  George W. Bush, "Enron Ken Lay," Dick Armey, Phil Gramm,  Tom DeLay, John Snow, Hank Paulson, and Bush's other Right-Wing Republican supporters - 
The Big Banking SHAM,  How The Recession is Over,  Only  for the Top 1 percent
* The Top 1 percent of banks now Control 80 percent of banking assets while household net worth is down $12.3 trillion from the peak. *

 The headlines read that the recession is over. In fact, the recession has been deemed over since June of 2009 by the National Bureau of Economic and Research (NBER). Yet the fact of the matter is working and middle class Americans are solidly in a deep recession (cont'd)