Home » Posts tagged "corruption"

US Fed Reserve Audit Reveals 16 TRILLION in Secret 0% Interest Bailouts

Evans Liberal Christian Politics
November 11, 2011


Why Is the Mainstream Media Ignoring This???
Our Featured Article

Wake Up World: US Fed Reserve
Audit Reveals 16 TRILLION
in Secret 0% Interest Bailouts

LinkShare_120x600SkyscprV1

"What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious — the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

"To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world."

Note by Evans Liberal Christian Politics owner Paul Evans: What could this huge monetary transfer also be about, besides bailing out banks and corporations? What must be in the mind of conspiracy theorists, is certain to be something very sinister. However, what this also may be about is preparation for times ahead (on the time scale of decades), which may very well make this last "Great Recession" look almost like a walk in the park.

The stronger democracies in western Europe and of course the U.S. may very well need this kind of money as the world’s economies teeter and labor under huge burdens. There are simply too few resources and too many people clamoring after them. This sort of monetary transfer may make some effective response by the strong western Nations possible, in the event of a crisis. The implementation is something along the lines of the New World Order which George H.W. Bush first brought up as a real necessity, and if that is true, what we are seeing here is that Order coming to pass into reality.

We have stated here on this website before that, while this New World Order has the potential for some very substantial misuse and abuse, it may be very necessary to keep the world from still worse economic pain.

This is my own view, and I am not stupid so I do realize that there is already abuse of the kind of cash and power that these sorts of funds represent. I am simply trying to look under the hood of a world financial movement which may have something at least a little more hopeful to it than what it seems like at face value. Let us hope and also pray. The next 50 years or more, say the scientists and even the CIA, are going to be rough.

Have a Listen to Our Playlists of Classic Rock Only Music, the Liberal Christian Rock, or Pure Electronic Music, or just have a look at the master playlist of 230 Rock, Pop & Electronic Hits. Get your music fix while you browse the news.

US Government Warning for Ohio

Evans Liberal Christian Politics
November 9, 2011

 

US Government Warning
for The State of Ohio

There is an acute shortage of toilet paper in the state of Ohio. Since Kasich became Governor, the crap is really starting to pile up. Supporting attacks on unions which have always been the voice and protectors of working people, and showing no real concern about the economic pain from which workers in Ohio are suffering, Kasich and his supporters in the legislature have caused increasing numbers of Ohio citizens to suffer from stomach and intestinal illnesses out of sheer worry.


Because of this, consumption of toilet paper is at an all time high. With some stores running out, it is up to all of us to conserve toilet paper or mandatory rationing will have to be instituted.

The source of the intestinal illnesses has been traced to governor Kasich’s office, as well as his Republican supporters in the legislature. The policies and legislation Kasich supports and in many cases has signed into law certainly appear to be the culprit most responsible for this shortage. However, knowing that with a lot of certainly is unfortunately different than legally proving it, at least if past Kasich scandals are taken as examples.

He certainly has brought to the governor’s office an ultracapitalist mindset which is great for the wealthy and big corporations, yet causes economic pain and suffering for ordinary citizens and workers. Previously unrecorded numbers of workers are now suffering from fairly severe indigestion and various intestinal illnesses. Thus, the shortage of toilet paper. Moreover, it appears that little can be done about this for the next few years, until there is another election for governor of Ohio.

Don’t say you weren’t warned. When you elected Kasich, you really should have known what you were about to get. If you don’t know about the crap coming out of the governor’s office, just ask a teacher, fireman or police officer and be sure to Google Ohio S.B. 5 and Ohio H.B. 194.

Please help our government in suppressing overuse of toilet paper. If we all pitch in, both the mandatory rationing and the continuing shortage can be curtailed, and a worse crisis avoided. Otherwise it will be necessary to issue legally binding rationing amounting to two double rolls per adult person per week.

It is advisable to monitor your personal use at the above-mentioned level so that mandatory rationing can be avoided.

Studies undertaken because of this issue have shown that people who wipe with more than three thicknesses of tissue are on average both rich and Republican, but since the majority of us are ordinary folks, it should not be too hard to get the cooperation that this crisis calls for.

Rest assured, our government is monitoring the situation and either through voluntary or else mandatory rationing, we will all be able to go to the bathroom and clean up after ourselves for a long time to come. (That is, assuming that rich Republican businessmen don’t corner the market on now-scarce toilet tissue. Your cooperation thus should help to keep the price of toilet paper from escalating beyond acceptable levels because of any artificial or computer generated trading in paper company stocks.)

This is your own fault, you know. If you had any brains, no corrupt Wall Street lawyer who was already deeply implicated in Ohio scandals would ever have been elected. That a man such as Kasich could have been elected to the highest office in the great state of Ohio is unfortunate and seems scarcely credible.

People, let’s really try to do better next time.

Thank you for your cooperation:

For immediate release and distribution, from the Joint Task Force of the U.S. Department of Commerce and the Federal Emergency Management Agency (FEMA), not to mention a lot of ordinary Ohioans with really raw butts.

The Truth Nobody Seems to Want to Talk About

Evans Liberal Politics
August 12, 2011

 

The Truth Nobody
Seems to Want to Talk About

Evans Liberal Christian Politics, August 27, 2011 (rewritten and republished); originally published August 12, 2011, by Paul Evans:

I’ve been dancing around (yet trying to avoid) the bitter truth since soon after I started this blog immediately after the election of 2008.

I was willing to give Obama the benefit of the doubt when he appointed Summers, Geithner and Bernanke as heads of his economic team, but now I believe that I was duped, as were many who worked to elect Obama as an agent of change. Will somebody please show me just what has improved in the actual lives of ordinary Americans since Bush?


I’ve seen quite a few other journalists and columnists doing the same thing – dancing around the truth with reluctance to make the cognitive leap towards an inescapable reality. I guess my favorite economics author who tells it like it is, is Bob Swern (bobswern) over at Daily Kos. But few seem to want to connect the dots and really summarize what is going on, so allow me try to make my own attempt.

Politics is depressing. The article which opened my eyes to this and resonated with me is, “Across the Universe: The Power of Disillusionment and the Politics of Despair,” OpEdNews, March 15, 2011, by Chris Floyd. A young man is disillusioned, somewhat depressed, and even contemplating drinking or suicide because his Mom’s hero Barack Obama is complicit in so much that is wrong. Instead of simply making a comment of some encouragement, Chris Floyd makes this commentary in its own article, of which I wish to quote part:

You have to remember that politics is a toxin. It will make you sick, taint your mind, poison your soul, blight your life if you let it. One has to deal with politics as a form of waste management, just as you need to have some kind of sewage system in your home or community to prevent disease.

Politics — the machinations of the stunted, damaged souls and third-rate minds who hanker for power — is just a small part of life. It entirely lacks the tragic element; nothing tragic or depthful about politics and power, it’s just brute force, greed, ignorance and spite. So there is no deep meaning to be found in it. No tragedy; no real joy either. Even the greatest moments, the epiphanies — and they do happen in politics on rare occasions, one must admit — will lead very quickly back into the sewage. And that’s OK, that’s the way it is; sewage, waste management — it’s part of life. But it’s not where meaning, joy, tragedy, the salt and savor of existence can be found. So why let the evil done by third-rate goobers drive you to despair of life itself? By hook, crook, lies and murder they’ve already amassed all kinds of power; why give them power over your very soul?

Very well put, don’t you think?

Still, it’s all very well to talk about politics not ruining our outlook or our lives, yet, isn’t that exactly what it’s doing?

It’s always been the very wealthy versus the rest of us. It’s just that once in a great while, usually following one of those periodic implosions we call a depression or even a bad recession, the Democrats manage to come up with enough populist leanings and legislation to make the playing field a little more level. “Equal” never really gets anywhere near to meaning “equality.” But with a few handfuls of beads thrown to the populous, there can be a minimal compression of inequality so that emotions are tamed long enough for the rich to resume their systematic plundering the puny earnings of ordinary Americans.

What are we talking about, put in a contemporary example? Let’s look at the Waltons, owners of that ubiquitous chain of Chinese goods, WalMart. Sam Walton used to be worth about 60 billion dollars. Then he died and three of his children inherited. Each of the three today is worth at least $20 billion. That’s enough to put two of the three in the top ten wealthiest people in America.

There are some different figures out there about just how bad the inequality is today. The most damning set of facts I’ve come across perhaps came from Michael Moore’s website, although I’m not sure. The claim is made that 400 very lucky people in this fair land own more than half of America’s wealth. Oh, and also, the lowest 80 percent of us own the shrinking sum of 17 percent of the wealth. This level of inequality is the worst, economists say, since the days of the old robber barons of the nineteen twenties.

Recently on Daily Kos, Bob Swern gave us some further proof of what’s been going on, specifically from 1992 to 2008, in NYT to Obama, Congress On Jobs: “Bad Policy, Craven Politics.” Buffett: “Stop Coddling Super-Rich”:

“…Referencing I.R.S. data and putting this all in context, Buffett tells us that, at the very highest income level for the 400 most successful Americans that submitted returns to the I.R.S. in 1992, they had total income of $16.9 billion and they paid federal taxes of 29.2%. By 2008, the income of the top 400 people reporting to the I.R.S. had risen to $90.9 billion, but they only paid federal taxes of 21.5%.”

It is instructive to look at Wall Street and the investment banks during and “after” the last recession (which some say isn’t over). While Goldman Sachs got ten billion from the bailout — the one Congress voted on, which was only a fraction of what the Fed actually handed out (some 2.4 trillion) — and also 19 billion from AIG bailout money that AIG owed Goldman, don’t worry, everything is hunky dory for these fine executives. The Goldman execs in 2009 got to split 23 billion in bonuses.

Now, Goldman Sachs owns Burger King. Many of these workers work 70 hour weeks and often do NOT even get paid for their overtime hours with commensurate pay. But $23 billion would give every single Burger King worker extra pay amounting to $18,000 a year. As if to rub salt in the wound, after the Obama administration’s “fiscal reforms,” last year Goldman gave out even more in executive bonuses.

What I am talking about is that, for the first time in history, after an economic nosedive which was the second worst in our recent history, there has been this really good recovery. I mean for rich people. ONLY for rich people. Yes, through the magic of a bought Congress and some really great lobbyists, plus the best computer programming money can buy and the connivance of the Federal Reserve, the economy is great for the rich, and yet really, really lousy for the rest of us. And that’s the way the rich set up this recovery. I can’t prove it, but I feel deep down in my bones that Washington and the various economic elites set it up this way on purpose, in order to solely benefit the elite and well to do.

You say, let me have some data to back that up. Here are some figures that were floating around last February which are telling: The fact is that as of that date, for those making $100,000 a year or more, the unemployment rate was a very livable 3.2 percent. However for those of us making $20,000 a year or less, the unemployment rate stood at 31 percent. There seems to be a now-permanent underclass and upward mobility seems frozen. Not only do the rich get richer and the poor get poorer, but if you ARE poor, there is very little chance you will ever be counted as a thriving member of the middle class.

So we are screwed, and maybe even a fair number of the underclass now understand this, yet even the Democrats who get elected are mostly far from liberal on economic issues. With the “compromise” that Obama and the Democrats made to get the debt ceiling raised, about which Boehner crowed that the Republicans got 98 percent of what they wanted, I really believe we should all consider just giving up and moving to Europe or Canada. The game seems over here in America. Greed and evil seem to have triumphed and to be fully in control of the future. I cannot imagine Congress, Obama or anyone else saving ordinary Americans from the suffering and anguish that have recently been imposed on them by the powers that be. I pray that the future proves me wrong. But I don’t think so.

Have a Listen to Our Playlists of Classic Rock Only Music, the Liberal Christian Rock, or Pure Electronic Music, or just have a look at the master playlist of 230 Rock, Pop & Electronic Hits. Get your music fix while you browse the news.

Since 2009, 88 Percent Of Income Growth Went To Corporate Profits, Just One Percent Went To Wages

Evans Liberal Politics
July 1, 2011

 

Since 2009, 88 Percent Of Income Growth
Went To Corporate Profits, Just One Percent
Went To Wages

Since 2009, 88 Percent Of Income Growth Went To Corporate Profits, Just One Percent Went To Wages, Think Progress, June 30, 2011, by Guest Blogger, excerpt quoted verbatim:

After the longest recession since WWII, many Americans are still struggling while S&P 500 corporations are sitting on $800 billion in cash and making massive profits. Now, economists from Northeastern University have released a study that finds our sluggish economic recovery has almost solely benefited corporations. According to the study:

“Between the second quarter of 2009 and the fourth quarter of 2010, real national income in the U.S. increased by $528 billion. Pre-tax corporate profits by themselves had increased by $464 billion while aggregate real wages and salaries rose by only $7 billion or only .1%. Over this six quarter period, corporate profits captured 88% of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1% of the growth in real national income. …The absence of any positive share of national income growth due to wages and salaries received by American workers during the current economic recovery is historically unprecedented.”

The New York Times adds, “According to the Bureau of Labor Statistics, average real hourly earnings for all employees actually declined by 1.1 percent from June 2009, when the recovery began, to May 2011, the month for which the most recent earnings numbers are available.” ….

Read the full article, here.

Have a Listen to Our Playlists of Classic Rock Only Music, the Liberal Christian Rock, or Pure Electronic Music, or just have a look at the master playlist of 230 Rock, Pop & Electronic Hits. Get your music fix while you browse the news.

FORA TV – Inside Job: Charles Ferguson

Evans Liberal Politics
June 26, 2011

 

FORA TV – Inside Job
Charles Ferguson

How Did You Like Paying Your Taxes and What Do You Think of Corporate Freeloaders?

Evans Liberal Politics
April 20, 2011

 

How Did You Like Paying Your Taxes
and What Do You Think of Corporate Freeloaders?

Evans Liberal Politics Note by Paul Evans: That was as good a title for this gem from MoveOn.org as any other. Do you see the huge corruption in the data below? It’s Congress that made the tax laws that allow this criminal behavior. Congress made the tax laws of by and for the rich people. America, how long are you going to stand this?

Share This on Facebook


Senator Bernie Sanders Guide To Corporate Freeloaders

Open Letter to President Obama on the Nomination of Elizabeth Warren

Evans Liberal Politics
April 3, 2011

 

Open Letter to President Obama
on the Nomination of Elizabeth Warren

Open Letter to President Obama on the Nomination of Elizabeth Warren, Common Dreams.org, April 2, 2011, by Ralph Nader, used under Creative Commons 3.0 license, quoted verbatim:

Ralph Nader

April 1, 2011

Dear President Obama:

An interesting contrast is playing out at the White House these days—between your expressed praise of General Electric’s CEO, Jeffrey R. Immelt and the silence regarding the widely desired nomination of Elizabeth Warren to head the new Consumer Financial Regulatory Bureau within the Federal Reserve.

On one hand, you promptly appointed Mr. Immelt to be the chairman of the President’s Council on Jobs and Competitive, while letting him keep his full time lucrative position as CEO of General Electric (The Corporate State Expands). At the announcement, you said that Mr. Immelt “understands what it takes for America to compete in the global economy.”

Did you mean that he understands how to avoid all federal income taxes for his company’s $14.2 billion in profits last year, while corralling a $3.2 billion benefit? Or did you mean that he understands how to get a federal bailout for GE Capital and its reckless exposure to risky debt? Or could you have meant that GE knows how to block unionization of its far flung workers here and abroad? Perhaps Mr. Immelt can share with you GE’s historical experience with lucrative campaign contributions, price-fixing, pollution and those nuclear reactors that are giving people fits in Japan and worrying millions of Americans here living or working near similar reactors.

Compare, if you will, the record of Elizabeth Warren and her acutely informed knowledge about delivering justice to those innocents harmed by injustice in the financial services industry. A stand-up Law Professor at your alma mater, author of highly regarded articles and books connecting knowledge to action, the probing Chair of the Congressional Oversight Panel (COP) and now in the Treasury Department working intensively to get the CFRB underway by the statutory deadline this July with competent, people-oriented staff.

OCInkjet.com 250x250 banner,<br /> image is updated by season.

There were many good reasons why Senate leader Harry Reid (Dem. Nevada) called Professor Warren and asked her to be his choice for Chair of COP. Hailing from an Oklahoman blue collar family, Professor Warren is just the “working class hero” needed to make the new Bureau a sober, law and order enforcer, deterrer and empowerer of consumers vis-à-vis the companies whose enormous greed, recklessness and crimes tanked our economy into a deep recession. The consequences produced 8 million unemployed workers and shattered trillions of dollars in pensions and other savings along with the dreams which they embodied for American workers.

Much more than you perhaps realize, millions of people, who have heard and seen Elizabeth Warren, rejoice in her brainy, heartfelt knowledge and concern over their plight. They see her as just the kind of regulator (federal cop on the beat) for their legitimate interests in a more competitive marketplace who you should be overjoyed in nominating.

Yet there are corporate forces from Wall Street to Washington determined to derail her nomination—forces with their avaricious hooks into the Republicans on Capitol Hill and the corporatists in the Treasury and White House.

You have obliged these forces again and again over the last two years, most recently with the appointment of William M. Daley, recently of Wall Street, as your chief of staff.

How about one nomination for the People? The accolades on hearing the news of Elizabeth Warren’s nomination may actually exceed the enduring indignation were she not to be nominated. Just feed the Senate Republicans to the mass media that would cover the nomination hearings, all that calm, solid, wisdom and humanity that she communicates without peer. See who prevails.

Selecting Elizabeth Warren and backing her fully though the nomination process will always be remembered by Americans across the land. Not doing so will not be forgotten by those same persons. This is another way of saying she has the enthusiastic constituency of “hope and change”—that is “change you can believe in!”*

I look forward with many others to your response.

Sincerely yours,

Ralph Nader
PO Box 19312
Washington D.C., 20036

* If you doubt this observation and would like to see one million Americans on a petition favoring her selection, ask us and see how long that would take.

Ralph Nader is a consumer advocate, lawyer, and author. His most recent book – and first novel – is, Only The Super-Rich Can Save Us. His most recent work of non-fiction is The Seventeen Traditions.

See Johnson, Krugman, Nocera: Elizabeth Warren Is Getting Thrown Under The Bus, Evans Liberal Politics, March 21, 2011, by Bob Swern.

See Have Obama and the Dems Sold Out the People, Too? (Revised and Updated), Evans Liberal Politics, January 17, 2011, by Paul Evans.