Thursday, January 26, 2017

TRUMP AND GOLDMAN SACHS LAUNCH OBAMA-CLINTONOMICS TO SERVE THE SUPER RICH

Wall Street’s Trump euphoria propels Dow above 20,000

Wall Street’s Trump euphoria propels Dow above 20,000



"..buoyed by Trump’s promises of massive tax cuts for corporations and the rich, the wholesale lifting of business regulations, a massive expansion of military spending, and the prospect of a full-scale attack on social programs."


"The presence of three former Goldman Sachs executives in top positions in the Trump administration, in addition to Clayton, helps explain the frenzied runup in the share prices of major banks. Goldman Sachs and JPMorgan Chase together account for some 20 percent of the rise in the Dow since 

November 22."



Wall Street’s Trump euphoria propels Dow above 20,000
By Barry Grey
26 January 2017
On Wednesday, Wall Street celebrated the installation of an administration staffed by CEOs and pledged to remove all obstacles to corporate profit-making by pushing the Dow Jones Industrial Average above the 20,000 level for the first time in history. US stock indexes have been soaring since the November 8 election of Donald Trump, with the Dow rising 9 percent in just 11 weeks.
The blue chip index gained 155 points to close at 20,068 on Wednesday. The Standard & Poor’s 500 and Nasdaq indexes also recorded strong gains and ended the day in record territory.
Trump hailed the record-breaking close with a tweet: “Great!#Dow20K.” His senior economic adviser, the former hedge fund boss Anthony Scaramucci, congratulated Trump for the market surge, tweeting, “Stock market performance in 6 weeks following President Trump’s victory is best among all elections since 1900#ThankYouTrump.”
The record close came one day after Trump issued orders aimed at removing all obstacles to the completion of the Keystone and Dakota Access pipelines, demonstrating his contempt for environmental concerns and the sentiments of Native American tribes and their supporters, who have been protesting for months against the Dakota project’s threat to the Standing Rock Reservation’s water supply and traditional lands.
This boon to the energy and materials corporations and their Wall Street backers coincided with meetings between Trump and corporate CEOS on Monday and Tuesday at which the billionaire real estate mogul-turned president reiterated his pledge to gut health and safety and environmental regulations and slash corporate taxes.
In remarks just prior to meeting Tuesday with the CEOs of the US-based auto companies, Trump promised to shift the business climate “from truly inhospitable to extremely hospitable.” He called current business regulations “out of control.” Administration officials broadly hinted that Trump would meet one of the auto bosses’ key demands by rolling back fuel efficiency standards. On Monday, Trump told a meeting of a dozen CEOs that his advisers thought “we can cut regulations 75 percent, maybe more.”
Other actions Trump has taken in the five days since his inauguration include a freeze on all pending regulations and a hiring freeze for all federal agencies.
While there have been certain improvements in the economic situation in the US and internationally in recent months, including signs of stronger growth in Europe and an upsurge in fourth quarter US corporate profits, these changes do not explain the extraordinarily rapid rise in the American markets.
The surge began the day after Trump’s November 8 election victory, as the markets, initially shaken by the unexpected defeat of their favored candidate, Democrat Hillary Clinton, turned sharply upward, buoyed by Trump’s promises of massive tax cuts for corporations and the rich, the wholesale lifting of business regulations, a massive expansion of military spending, and the prospect of a full-scale attack on social programs.
As Trump began to name one billionaire or multi-millionaire after another to his cabinet, along with ex-generals and far-right opponents of public education, Medicare and Social Security, housing assistance, environmental protections, the minimum wage and occupational health and safety, the upward spiral on Wall Street accelerated. It is barely two months since the Dow first hit 19,000.
The rise stalled for several weeks while the financial elite waited to see if Trump really intended to carry out the social counterrevolution to which he had alluded during the campaign. The markets soared once again after Trump’s installation and initial pro-corporate moves.
Trump is the embodiment of the American financial aristocracy, in all its brutish and violent backwardness and criminality. What the markets are celebrating is a government that in an unprecedented manner openly functions as the instrument of this oligarchy.

On Wednesday, the Wall Street Journal if anything understated the greed-driven euphoria in corporate and financial circles in an article headlined “CEOs Savor New Washington Status.”

“For CEOs,” the Journal wrote, “the moves have sent a message that their stock is rising in Washington, with some betting that they will have a bigger say in running the country…
“Along with [former Exxon Mobil CEO Rex] Tillerson at State, billionaire investor Wilbur Ross [Commerce], former Windquest Group chairwoman Betsy DeVos [Education], Andy Puzder, chief executive of CKE Restaurant Holdings [Labor] and former World Wrestling Entertainment CEO Linda McMahon [Small Business Administration] have been tapped to play big roles in his administration.”
The Journal could have added, among others, longtime Goldman Sachs lawyer Jay Clayton the head the main Wall Street regulation, the Securities and Exchange Commission.
The presence of three former Goldman Sachs executives in top positions in the Trump administration, in addition to Clayton, helps explain the frenzied runup in the share prices of major banks. Goldman Sachs and JPMorgan Chase together account for some 20 percent of the rise in the Dow since November 22.
Trump’s plan to “make America great again” is a drive to wipe out every social gain won by the working class in the course of more than a century of struggle and return to a supposed “golden age” when the corporations could plunder and pollute the country to their heart's content.
The fraud of Trump’s “concern” for the American worker is exposed by the reality of the forces that are actually benefitting from his policies.
One of the Goldman alumni chosen by Trump for top posts in his administration is Gary Cohn, the bank’s former president and chief operating officer. In return for his leaving the bank and assuming the post of director of Trump’s National Economic Council, Goldman is handing Cohn more than $285 million in bonuses, stock holdings and other investments, according to Bloomberg News.
The Wall Street Journal, in an article published Tuesday titled “Bankers Cash In on Post-Election Stock Rally,” reported that executives of major Wall Street banks have sold almost $100 million worth of stock since the election, more than in that same period in any year for the past decade.
In addition to the share sales, bank officials have sold another $350 million worth of stock to cover the cost of exercising stock options.
Morgan Stanley CEO James Gorman, according to the newspaper, sold 200,000 Morgan Stanley shares three days after the election, and has since sold another 385,000 shares, altogether realizing a profit of at least $8.4 million.
Six Goldman Sachs executives, as well as board member and ex-finance chief David Vinar, exercised 983,000 options, representing $200 million worth of shares.
The advent of Trump has already boosted the fortunes of Wall Street bankers by millions of dollars, and this is only a small preview of the colossal plundering of the American and world economy that is to come.
All the more politically criminal are the efforts of the Democrats, including supposed “left” figures such as Bernie Sanders and Elizabeth Warren, to lend credibility to Trump’s claims to be fighting for American workers by backing the new president’s xenophobic “America First” policies of economic nationalism and trade war.



TRUMPERNOMICS: A NATION RULED BY GOLDMAN SACHS

"The same period has seen a massive growth of social inequality, with income and wealth concentrated at the very top of American society to an extent not seen since the 1920s."


"He (Trump) is able to get a hearing because millions of people are being driven into economic insecurity and poverty while the rich and the super-rich continue to amass obscene levels of wealth. He is able with some success to divert mass discontent along reactionary nationalist and racialist channels precisely because what passes for the “left” in American politics, anchor by the Democratic Party, has moved ever further to the right, culminating in the Obama administration which has presided over endless war and an unprecedented redistribution of wealth from the bottom to the top of the economic ladder."

TRUMPERNOMICS:


"The collection of billionaires, bankers, CEOs, 



generals and social arch-reactionaries that will 



comprise his cabinet and White House inner 



circle is pledged to remove all constraints on the 



ability of the rich to plunder American society 



for their own personal gain and profit."


THE IMPACT OF TRUMPERnomics AND THE MASSIVE TRANSFER OF WEALTH TO THE SUPER RICH

AMERICA: One paycheck and two illegals away from homelessness.


"The economists found that the pre-tax share of national income received by the bottom half of the US population has been cut nearly in half since 1980, from 20 percent to 12 percent, while the income share of the top one percent has nearly
doubled, from 12 percent to 20 percent."



SOARING POVERTY IN AMERICA’S OPEN BORDERS


TRUMPERNOMICS FOR THE SUPER RICH:



“In the US, the working class will confront a government unlike any other in American history, which will continue and intensify a decades-long social counterrevolution overseen by the Democrats and Republicans. The incoming Trump administration is manned by billionaires, generals and arch reactionaries. It is a government of, by and for the oligarchy, committed to destroying every remaining gain won by workers over the past century.”


TRUMP’S CABINET OF STOOGES, LOOTERS and CRONIES


Puzder’s nomination is of a piece with 



Trump’s other cabinet choices. Betsy DeVos, 



an enemy of public education, has been 



selected to head the Department of 



Education. Ben Carson, the neurosurgeon 



known for his antipathy towards government 



“interference” in housing regulation, has 



been nominated as the Housing and Urban 



Development Secretary.


ANDREW PUZDER:


ENEMY OF THE AMERICAN WORKER and ADVOCATE FOR OPEN BORDERS

TRUMP'S OPEN BORDERS AND AMNESTY/ NON-ENFORCEMENT POLICIES WILL HELP KEEP THE HAMBURGER INDUSTRY WELL STOCKED WITH "CHEAP" LABOR ILLEGALS.... The America people will then be forced to pay the REAL cost of all that staggeringly expensive labor



“Yet Andrew Puzder, the chief executive of the company that operates Carl’s Jr. and Hardee’s, has been chosen by President-elect Donald Trump as labor secretary.”


“Mr. Puzder, however, has been adamantly opposed to a meaningful increase in the federal minimum wage, which is $7.25 an hour. Mr. Trump has said he could stomach an increase to $10, which is still abysmal.”


“Here is the record at those restaurants. When the Obama Labor Department looked at thousands of complaints involving fast-food workers, it found labor law violations in 60 percent of the investigations at Carl’s Jr. and Hardee’s, usually for failure to pay the minimum wage or time and a half for overtime.”



HOW MANY HAMBURGER JOINTS HIRE 



legals????


 TRUMP VOWS TO KEEP OBAMA’S CRONY BANKSTERS LOOTING
MNUCHIN: THE  FORECLOSURE  MACHINE!

The FDIC paid OneWest $1 billion, which Stein said went to “billionaire investors … to cover the close of foreclosing on working class, everyday American folks.”
“But the bank came under fire for its foreclosure practices as housing advocacy groups accused it of being too quick to foreclose on struggling homeowners. In 2011, dozens of demonstrators descended on Mnuchin's $26.5 million home in he wealthy Bel Air neighborhood to protest OneWest's eviction tactics, according to the Los Angeles Times.”
TRUMPERnomics:
AFTER OBAMA-CLINTONIMCS, THE LOOTING OF AMERICA BY THE RICH TO CONTINUE UNDER THEIR OWN, DONALD TRUMP


TRUMP FILLS THE “SWAMP” WITH CRONY BILLIONAIRES!

"Far from Trump’s demagogic claims that he would 'drain the swamp,' the corrupt nexus between Wall Street and Washington is tighter than ever."


OBAMA-CLINTONOMICS is now the new TRUMPERnomics!
TRUMP VOWS TO SERVE THE RICH WITH SUPER OBAMA-CLINTONIMCS!
There is a vast chasm between this empty populist rhetoric and the personnel that Trump has selected to populate his government. The speech followed a series of cabinet picks, including billionaire asset strippers, Wall Street bankers, and dedicated opponents of financial and corporate regulations, public education and Medicare and Medicaid, to lead the Treasury, Commerce, Education and Health and Human Services departments.

TRUMP  IMPOSES  OBAMA-CLINTONOMICS:  Cut Federal Pensions and Medicare to Cover Tax Cuts For the Super Rich
"Trump is not the initiator of this class war against working people. It has been underway for decades, beginning in earnest with the election of Ronald Reagan in 1980 and continuing under every succeeding administration, including the eight-year tenures of Democrats Bill Clinton and Barack Obama. The colossal redistribution of wealth and income from the bottom to the top of American society reached record proportions under Obama, whose legacy of falling living standards and worsening economic crisis for tens of millions of workers was a decisive factor in the victory of the fascistic demagogue and con artist Trump."

THE TWISTED ROAD TO REVOLUTION CAME DOWN WALL STREET

FIRST



"Between 2002 and 2015 annual earnings for the bottom 90 percent of Americans rose by 

only 4.5 percent, while earnings for the top 1 percent grew by 22.7 percent, according to the

Economic Policy Institute. Under the Obama administration, more than 90 percent of 

income gains since the so-called “recovery” began have gone to the top one percent."

 



 “Our entire crony capitalist system, Democrat 




and Republican alike, has become a kleptocracy 



approaching par with third-world hell-holes.  This 



is the way a great country is raided by its elite.” 



---- Karen McQuillan THEAMERICAN 



THINKER.com

 



Wikileaks exposes Obama’s bankster-infested

 

administration!



BARACK OBAMA …… the banksters’ RENT BOY!
 “Citigroup’s recommendations came just three days after then-President George W. Bush signed into law the Troubled Asset Relief Program, which allocated $700 billion in taxpayer money to rescue the largest Wall Street banks. The single biggest beneficiary was Citigroup, which was given $45 billion in cash in the form of a government stock  purchase, plus a $306 billion government guarantee to back up its worthless mortgage-related assets.”

MUCH MORE HERE:


“As president, Obama not only funneled trillions of dollars to the banks, he saw to it that not a single leading Wall Street executive faced prosecution for 
the orgy of speculation and swindling that led to the financial collapse and Great Recession, and he personally intervened to block legislation capping 
executive pay at bailed-out firms.”


CRONY BANKSTER LOOTING OF AMERICA

 THEIR GOLDEN AGE OF PLUNDER IS NOT OVER!



NO PRESIDENT IN HISTORY SUCKED IN MORE 



BRIBES FROM BANKSTERS NOR INFESTED HIS 



ADMIN WITH BANKSTER CRONIES MORE THAN 



OBAMA!

And while the Obama administration worked systematically to bail out the banks and make the financial oligarchy richer than ever, shielding the architects of the Great Recession from criminal prosecution, it did impose fines for some of the banks’ grossest swindles, including the sale of worthless subprime mortgage-backed securities, the rigging of key global interest rates such as the London Interbank Offered Rate (Libor), drug money laundering, illegal home foreclosures and other illicit activities.

BARACK OBAMA , HIS CRIMINAL BANKSTERS AND THE LA RAZA

MEXICAN DRUG CARTELS….

There’s more than one way to destroy America’s white middle class!



HSBC laundered hundreds of millions and perhaps billions of dollars for drug cartels responsible for the deaths of tens of thousands of people over the past two decades. The bank transferred at least $881 million of known drug trafficking proceeds, including money from the Sinaloa Cartel in 
Mexico, which is known for dismembering its victims and publicly displaying their body parts.




TRUMPERNOMICS: The Goldman Sachs Doctrine of Unbridled Looting


THE FINAL TRANSFER OF AMERICA’ ECONOMY TO THE SUPER RICH!

 

http://mexicanoccupation.blogspot.com/2016/09/barack-obama-and-his-crony-bankstershow.html


AMERICA’S ECONOMIC ARMAGEDDON – The Impact of TRUMPERNOMICS
Under Obama-Clintonomics, the rich became VERY rich and we got the tax bills for their bailouts and crimes! Trump and his Goldman Sachs regime will double the numbers of rich and quadruple the number of LEGALS living in poverty.


TRUMPERNOMICS:  SERVING THE SUPER RICH OFF MIDDLE AMERICA’S BACK:


The slow and painful death of America that dominates American society."


http://mexicanoccupation.blogspot.com/2016/08/serving-super-rich-obama-clintonomics.html

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