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If you’re looking for 100% absolute proof Bernie Sanders should be our next President, here it is:
Bill Black: Wall Street Declares War Against Bernie Sanders
Posted on January 26, 2016, by Yves Smith
By Bill Black, the author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. Originally published at New Economic Perspectives
Wall Street billionaires are freaking out about the chance that Bernie Sanders could be elected President.
Stephen Schwarzman, one of the wealthiest and most odious people in the world, told the Wall Street Journal that one of the three principal causes of the recent global financial trauma was “the market’s” fear that Sanders may be elected President.
Schwarzman is infamous for ranting that President Obama’s proposals to end the “carried interest” tax scam that allows private equity billionaires like Schwarzman to pay lower income tax rates than their secretaries was “like when Hitler invaded Poland.”
Actually, Schwartzman may be right about Bernie and the stock market crash. The billionaires who control the market, don’t want an honest President, who cares about the middle class.
Schwarzman and Pete Peterson co-founded the private equity firm, Blackstone. Peterson leads the effort to destroy the safety net in America.
His greatest dream is to privatize Social Security so that Wall Street could increase its revenues by tens of billions of dollars.
President Bush II, a Republican wholly owned by the .1%, vainly attempted to sell the lie that private investment is safer than federal government investment. Pete Peterson is the notorious, extreme right-wing billionaire, former Chairman and CEO of Lehman Brothers, and the founder of The Peter G. Peterson Foundation, which he established in 2008 with a $1 billion endowment.
The group focuses on “raising public awareness about U.S. fiscal-sustainability issues related to federal deficits, entitlement programs, and tax policies.”
In short, he spreads the Big Lie that federal deficits are “unsustainable,” providing a phony basis for cutting Social Security, cutting Medicare, cutting Medicaid, cutting all aids to the poor and middle classes, and especially cutting taxes on the rich.
Despite the obvious problems with that notion (i.e. recessions, depressions and Wall Street criminality), the Republicans have not given up on the idea.
The Wall Street plutocrats, with good reason, fear Bernie – not Hillary. Indeed, it is remarkable how vigorous and open Wall Street has been in signaling through the financial media that it has no problem with Hillary’s Wall Street plan.
CNN, CNBC, and the Fiscal Times, under titles such as: “Here’s Why Wall Street Has Little to Fear from Hillary Clinton,” pushed this meme.
Bill and Hillary love the many millions they have been awarded by the Wall Street crooks. Oh, how the billionaires enjoy hearing the Clintons’ speeches, again and again — those dulcet tones and well-worn platitudes.
Now that’s entertainment!
Michael Bloomberg was the second Wall Street billionaire to pile on to Bernie this week. Bloomberg leaked to dozens of media outlets that he was again considering a run for the presidency. The same leaks explained that Bloomberg’s fear of Bernie was the key.
Bloomberg is infamous for organizing the mass arrests designed to crush the Occupy Wall Street movement. He is Wall Street and he openly represented Wall Street as Mayor of New York City.
How dare these young marchers criticize Bloomberg’s crooked banker friends, just for stealing a measly few hundred billion dollars from the middle class and the poor.
Mayor Bloomberg was outraged that Wall Street banksters were blamed for their roles in leading the world’s largest criminal enterprises.
Bloomberg invented a fictional alternate history in which the banksters were the victims of Congress, which purportedly forced them to make millions of bad and fraudulent loans – and then to sell the fraudulently originated loans to the secondary market through fraudulent representations and warranties.
Bernie scares all of these groups.
If there are two things that infuriate the billionaires and the banksters they are:
2. A desire to narrow the obscene Gap between the rich and the rest.
President Obama and his protege, Hillary Clinton suffer from neither of these two “afflictions.”
Obama, the architect of “fiscal cliff” austerity, wanted to negotiate a “Grand Bargain” with the Republicans, in which cutting Social Security benefits was a centerpiece, thereby stabbing in the back, the people who voted for him.
Why do the Wall Street billionaires hate Bernie?
The 1% are exceptionally hostile to Social Security and anything that protects the weak from predation by the wealthy. They are also stunningly unconcerned about problems such as global climate change while they are paranoid about debt, deficits, and inflation even during the depths of the Great Recession.
The domination of the plutocrats of our economy and the shards of our democracy has led to decades of terrible policies designed to ensure that financial regulation will fail. These policies have crushed the middle class and abused the poor.
Read Tom Frank’s blockbuster new book about the shameful history of the “New Democrats’” alliance with these plutocrats.
Reading simply the passages explaining Bill Clinton’s shameful effort, in a cynical deal with New Gingrich, to begin to privatize Social Security in order to transfer tens of billions of additional dollars from the American people to Wall Street and put all our retirements at risk is worth the price of the book.
You don’t have to watch the polls to know how well Bernie is doing.
Just listen to the intensity of the billionaires’ bleating about Bernie.
“New Democrats” are Obama Democrats in league with Republicans, and together in league with the criminal billionaires, all of whom wish to line their own pockets at your expense.
The fact that the rich and their bribed politicians despise Bernie Sanders is 100% absolute proof he should be our next President.
Rodger Malcolm Mitchell
Ten Steps to Prosperity:
1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually Click here
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)
The Ten Steps will grow the economy, and narrow the income/wealth/power Gap between the rich and you.
THE RECESSION CLOCK
Recessions begin an average of 2 years after the blue line first dips below zero. There was a dip below zero in 2015. Recessions are cured by a rising red line.
Vertical gray bars mark recessions.
As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.