Obama Panders to Cantor’s Mob

With the recent protest across America, one single observation that can be drawn is the level of two-faced hypocrisy evident in the elected leadership residing in Washington, D.C. The only consistent factor is the irony that both President Obama and the Tea Party Republicans were elected to implement change. Unfortunately neither has produced and continue to serve the oligarchs and plutocrats that fill their campaign coffers instead of the common citizenry of this once great nation.

Obama has done every shuck and jive dance move to pass his jobs bill that he only needs to wear black face to complete his vaudvillesque act. The Republicans namely Eric Canto and John Boehner have done everything in their power to make it seem as if they are actually working for the people when they are not, seeming to always leave their white sheets hanging in the closet at home as opposed to showing their true colors.

Eric Cantor and Barack Obama are both bought and paid for by the people they claim to dislike on behalf of Obama, and protect on behalf of Cantor. From the recent discussion on Israel, it is obvious that they care and want to give more loot without any query to Israel equally than they do the American people. Just ask Benjamin Netanyahu who Eric Cantor tried to play against the President. The problem is that American voters, in particular black folk do not understand that people like Eric Cantor or Barack Obama do not represent mainstream American interests or the interest of the American citizenry in generally.

Obama talks a better game about main street and the common man but all the ambassadors he has appointed and the majority of his cabinet members all gave his campaign $500,000 or more. He as cantor, have stood by and enabled America's Wall Street and Corporate criminal elite resulting in this economic imbalance in our nation. Do not get me wrong, this includes every national politicians since Andrew Jackson since in my locution, he was the last President who genuinely understood the plight of the people albeit he was a crooked white supremacist. The sad reality is that with the assistance of the media, both the leadership of the democratic and Republican Party’s act as if their only public duty is to tell us regular folk what and how to think.

We on the ground level see what our elected leadership does not – that our social structure only is efficient and works to service the desires of a few and is inequitable for the majority. In addition it is more than obvious that this approach they foster is not sustainable forever, unless they intend to rule by brute force.

These, our elected official via policy are more concerned with the views and support of the market manipulators on Wall Street than the American people. The same Wall Street that has bought our Congress and the President for they are merely corrupted element within an otherwise legitimate system. So what he have learned from the occupy Wall Street protest is that the America police will do what these oligarchs of wealth and power desire before they serve the poor and middle class. They will arrest, beat and pepper spray regular Americans who only desire to exercise their constitutional rights to assembly and free speech although they are paid to protect and serve the innocent.

To Eric Cantor and the police departments around the USA we are mobs and in the eyes of Obama, we only deserve to be pandered to in an effort to be re-elected. Mobs as opposed to Americans protesting injustice, political corruption and corporate fascism. House Minority Whip Eric Cantor, who openly states that flood, hurricane and tornado victims must pay for their own recovery by cutting social programs so his party and their supporters can continue to rape the middle class. It is clear that Eric Cantor, from his voting record and spends without repute his donations, that he represents big business, executives on Wall Street, and those who have power no differently than the democrats who go to Washington.

Cantor serves to helps companies abuse their employees by opposing unemployment benefits. He has consistently with banks that fund his campaign even voting to bail out a bank that his wife works for, and sits on the board of directors. A bank in which the minimum account balance for its wealth management division is $40 million. He has side with big oil and is one of the best fund raisers in the Republican Party. Open records indicate that he spent $7,400 of donor money on gourmet chocolates last year alone. But that is possible when you are getting money from lobbyist for Genworth Financial and AstraZeneca PLC. When asked if he would pass any elements of the Obama Jobs bill, he said yes - a provision that allows government contractors to collect all the money that is due to them rather than have 3% withheld for taxes (costing US tax payers $14 million over next ten years).

Obama is just as bad. As I wrote earlier this year, “ though Obama vowed to end “special interests” from his administration, nearly 200 of his biggest donors have landed plum government jobs and advisory posts, and/or won federal contracts worth millions of dollars for their business interests. Just for raising $50,000 to $500,000 for his campaign. In total, 184 of 556, or about one-third, of Obama bundlers or their spouses joined the administration in some role. In fact, 80 percent of those who collected more than $500,000 for Obama took key administration posts. Also, President Obama's appointment of William Daley as his chief of staff is another example. Daley was an executive at JPMorgan Chase, the investment bank that received a $12 billion bailout during the financial crisis”

As I write this, forty-six states are trying to keep the poor, elderly and minorities from voting in the next election by putting up roadblocks to them getting a "valid" photo ID, all under the guise of republican leadership. Just last night, Obama, after he said he understood the protestors, attended an Upper East Side DNC fundraiser to wine and dine Wall Street big wigs that cost attendees $35,800 each. An event that raised him $2.4 million from more than 60 financiers running the top funds on Wall Street. Yes, our current President claims to be for change and the people but he gives billions to Banks and corporations like Solyndra.Wall Street has trampled the American dream and politicians on both sides of the aisle are the reason us regular folks continue to have night mares.

Humpty Dumpty Economics

I have come to accept that all the King’s horses and all the King’s men cannot rebuild and grow the US economy with the approaches being considered currently and the inability for adults occupying the political grounds within the beltway to accept the common groundwork that they work for the people, not themselves, corporation or K Street lobbyist. All that has been proposed or ignored, whether by the President or the congress misses the point completely, avoids a historical context for understand and is rooted on feculent assumptions.

For starters we cannot deal with our soverign debt issues until we recognize the need to obviate the massive credit contraction we are expericing.se in point, it is a fact that the top five percent of the people in the US with respect to income account for nearly 40 percent of all US consumer spending. Just imagine if the annual salary of the top one percent is above $700,000, this group includes individuals earning more than $500,000 and up yearly. Coupled with the recent news that no, zero jobs were created in August and the prior months numbers were revised to show lower job creation, it is no way possible for any of the suggestion proffered by the Congress or Obama can work to create jobs without addressing the massive gap in consumption between the rich and poor, in particular if demand (more specifically lack of demand) is why there is minimal job growth. Now there are some who say Obama saved the country from a depression with his stimulus, but in fact it resulted in 2 million jobs vacated from the system, since the money went to the folks who already had money and desired to save it, or it went to those from foreign countries who currently own our debt and subsequently spent that money abroad and not here to create jobs.

Obama’s effort, even if more stimulus is introduced, will not produce any jobs. Likewise, the Republicans, who say they do not desire excessive regulations and want lower taxes, will not create jobs either, if history is any indication of what such policies evince. One reason is because over the past twenty years, household debt grew by more than thirty percent. Namely because of the lack of regulations proposed by the GOP for large corporations and Wall Street especially. Second, growing the economy, by reducing taxes for the top 2 percent while sales and payroll taxes for the masses continue to increase, will mean less money in the pocket of the average American, thus keeping consumer demand as it is or lowering it. Math shows us that US workers fortunate to be employed have increased in productivity, yet compensation and hourly wages have stagnated, not matching this productivity. Why, because just as prior to the great depression as it stands now, the majority of the wealth was in the hands of the top five percent. As Robert Reich notes in his book “Aftershock: the next economy and America’s Future” the top earners in the share of the nation’s total income reached their highest levels in 1928 and 2007 – both two years before major economic depressions. And Yes Virginia, a double dip recession as a kind way to say a depression.

Both Obama and the congress need to accept these facts. Obama needs to recognize big corporations are no longer singularly loyal to the US – they are global and have global interest. Republicans need to understand that deregulation places short-term profit gains over long-term economic. But I doubt if they will, seeing that House Majority Leader Eric Cantor wants to stop rules that regulate deadly mercury emissions and toxic coal ash from power plants suggesting that such regulations kill jobs (he fails to speak of the public health risk and loss of human life). I published a list four years ago that would grow the economy and create jobs, but what do I know, I just study history and do math.

I just wonder why places like India, China and Germany can do what we can’t – grow the economy and create jobs and increase earnings. German economic growth has outpaced the US for the past 15 years. Over the same period they have increased annual pay close to 30 percent while ours has increased almost 6 percent over the past fifteen years. The top 1 percent only takes 11 percent of the nation’s total income. Oh that’s right, they value education more, just as the other countries, and consistently out pace us in math and science aptitude, just as 26 other nations around the world.

Yes Obama has the second worse record to job creation of all US presidents, ranking only above Herbert Hoover. Yes, our attention deficit disorder having republican dominated congress seems to display the inability to comprehend that cutting taxes is not correlated to a decrease in the ratio of revenue to GDP. Not to forget a Treasury secretary who said the US credit rating would never be lowered, we have incompetence all around the nation’s capital.

Our economy suffers because in 2008 the chickens came home to roost – with no regulations, Wall Street, Banks and multi-national corporations were allowed to deal complex papers with unknown values like mortgage backed securities, which gave banks extra capital to enrich themselves by selling the same debt based securities of unknown value around the world. Simply because oligarch, people with great economic power and influence on politicians, republican and democrat equally, make the rules defining American economic policy to benefit themselves and ignore 95 percent of the nation. It not happen stance that The poorest 50% of all Americans now control just 2.5% of all the wealth in this country, or that the wealthiest 1% of all Americans now own over 50% of all the stocks and bonds.