Published on Steve Lenfman’s Blog, by blog owner, July 29. 2013.
America’s always been separate and unequal. Today it’s worse than ever in modern times.
Wealth disparity between rich and poor is unprecedented. Annually it widens. Government complicity with business bears full responsibility. It’s worse than ever under Obama … //
… Fact check:
- Obama spurns rule of law principles. He mocks democratic values. He’s no job creator. He’s a job destroyer. He supports offshoring high pay/good benefit ones abroad. Low pay/poor benefit part-time/temp ones replace them.
- He’s waging financial war on humanity. He wrecked the economy. He looted the nation’s wealth. He stole it from ordinary Americans. He handed it to Wall Street, war profiteers, other corporate favorites and rich elites.
- He’s thirdworldizing America. Today’s wealth gap is deplorable. Privileged elites want it all. Social inequality’s unprecedented in modern times.
- Poverty, unemployment, homelessness and hunger approach record levels. Inequality’s institutionalized. Millions struggle to get by.
- Neoliberal harshness is policy. Obama’s dismissive of growing needs. He’s ideologically over-the-top. His holy trinity is eliminating public services, crony capitalism writ large, and cracking down hard on nonbelievers.
- He’s waging war on organized labor. He’s commodifying education. He wants it made another profit center. He targets Muslims, Latinos, African Americans, environmental activists, animal rights defenders, truth-tellers and whistleblowers.
- He ruthlessly goes after anyone challenging rogue state power. He menaces humanity. He enforces police state harshness. He champions unfairness. He masquerades as progressive. He’s a scourge in his own time.
- According to New York TimesSpeak, he wants “budget austerity” ended. He wants spending for “infrastructure, education, clean energy, science, research and other domestic initiatives” replacing it.
- He wants repackaged same old, same old. He’s in lockstep with Republicans. He wants double downed harshness.
- He supports trickle down nonsense. He’s destroying America’s social fabric. He’s doing it to save it, he claims.
- He believes corporate tax cuts and handouts work. They stimulate economic growth, he says. They lift all boats. They benefit most people. False on all counts.
- Economist Kenneth Galbraith calls trickle down economics a sanitized version of “horse and sparrow” growth.
- “If you feed enough oats to the horse,” he said, “some will pass through to feed sparrows.”
- David Stockman was Reagan’s budget director. Crony capitalism triumphed, he said. His new book is titled “The Great Deformation: The Corruption of Capitalism in America.”
- It’s a searing critique of current policies. It counters conventional wisdom. Casino capitalism replaced free enterprise.
- Ordinary Americans suffer horrifically. They’re swindled. Their welfare and futures are stolen. Washington conspires against them. It’s allied with business. It’s criminal class is bipartisan.
- Obama serves wealth, power and privilege. Few benefit at the expense of most others. It’s official policy.
- Democrats and Republicans are in lockstep. It’s a sinister alliance. It targets fairness. America’s on a slippery slope south. It’s heading for backwater status. It’s on a fast track toward dystopian hell.
- New World Order harshness is baked in the cake. Things go from bad to worse. Equity and justice are four-letter words.
- Obamanomics sells snake oil. Duplicitous supporters claim otherwise. Decades of hard won social gains are vanishing.
- Millions are on their own sink or swim. Hard times are getting harder. Demagogic doublespeak can’t hide reality.
A Final Comment:
- Obama’s no match for Michael Hudson. He ripped apart his Galesburg, IL economic address. He sounded like Clinton saying “I feel your pain.”
- He omitted saying he caused it. “Most great fortunes in history have been carved out of the public domain,” said Hudson. Wall Street’s doing it writ large.
- It’s “using today’s downturn as an opportunity to cloak a vast new monopoly grab as a ’solution’ to the economic problem rather than looming as a new threat to price American labor and industry out of global markets.”
- Obama’s in lockstep with its plan. He’s “foam(ing) the(ir) runway.” He’s furthering America’s ownership society. He’s doing it at the expense of most Americans.
- Government guarantees returns. Taxpayers cover losses. In other words, socialism for the rich. Free market capitalism sink or swim for others.
- Obama’s scamming ordinary Americans. He’s a con man. His speech was “an exercise in political stealth,” said Hudson.
- “Trust me,” he said. Hudson quoted George Burns, Groucho Marx, and others saying:
- “The secret of life is sincerity and fair dealing. If you can fake that, you’ve got it made.”
- Obama’s selling snake oil. It’s “fairy tale” economics. He ignored what needs addressing:
- “Today’s debt deflation and economic shrinkage are pushing federal, state and local budgets into deficit,” said Hudson.
- “This is forcing public spending to be cut back proportionally. That cutting will push state, local and federal budgets even further into deficit.”
- “This is why we are hearing calls to start selling off public infrastructure – to buyers who will become new customers for Wall Street investment banks.”
- “It is the same phenomenon we are seeing in Europe. The newest economic prize is the right to buy rent-extraction rights to turn public roads into toll roads and similar rentier tollbooth installations.”
- “All this increases the cost of living and doing business, making the economy high-cost even as it is being impoverished.”
- “That is not a solution. It bears out the classic principle that the solution to every problem tends to create new, even larger problems.”
- “Often these are unforeseen. But today’s problems in the making are all too foreseeable. What is needed is to keep translating the President’s speeches into their subtext.”
- Key is exposing, denouncing, and becoming activist against policies destroying America’s social fabric. The alternative’s too grim to accept.
(Stephen Lendman lives in Chicago. He can be reached here. His new book is titled “Banker Occupation: Waging Financial War on Humanity”: on Clarity Press and on amazon;
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