Obama admits 95% of income gains gone to top 1% - CNN Money 


Under Obama (the failed community, redistribution, social justice organizer) the Wall Street economy has mightily boomed breaking all sorts of records; while the Main Street economy has deplorably sagged financially breaking millions of working class families. Obama waged class warfare against the rich, but ironically his policies helped them to win. Yet despite his self-caused defeat Obama's still a hero to the progressive, anti-capitalist Left. Why? Because he's a likable, charismatic left-wing black man whose "heart is in the right place;" and whose failures are blamed on an obstructionist Congress, FOX News, and hostile right-wing talk shows that he couldn't overcome-showing a failure of leadership, governing skills and know how. Despite his fairly high approval rating Obama is perhaps the most popular failed president in American history-his biggest political failure of which was using his popularity to win the presidency for Hillary.



During Obama's reign of error (with a trickle growth economy so fragile and weak that the Fed, fearing a recession, won't dare raise interest rates) the rich have gotten vastly, hugely, enormously richer in a transfer of wealth to the top 1% unseen since the days of the "Robber Barons." And like the criminal, oppressive Castros (one of the richest robber baron families on Earth) Obama's lauded as a champion of the little guy by an insane, out of touch liberal media, academia, and the Democrat establishment. It's mind-boggling!



After the crash of 2008 wiped out trillions the rich, under Obama, have recovered magnificently seeing their fortunes rise galactically. This is due mainly to the greatest, fraudulent government manipulation of the stock market in US and world history-growing the millionaire's and billionaire's club while impoverishing the middle class and swelling the ranks of the poor.  And none of this is the Republicans' fault.



Obama_income_inequality_Fox News

Benefiting from the Obama/Bernanke/Yellin policies of near zero interest rates (robbing billions from savings accounts), multi-trillion dollar money printing (devaluing the dollar and hurting purchasing power), and quantitative easing (artificially boosting stock values to historic highs) the top 1% since 2009 increased its wealth by 11.2%+; while the rest of us poor suckers saw a mere increase of 0.2%. Indeed, under Obama's policies the top 1% took an astonishing, unprecedented 93 cents out of every new dollar earned; under Bush they took 65 cents; under Clinton 45 cents. That equates to a staggering 112% increase over the Clinton years (see) due mostly to a rigged, over bought stock market-a bubble that sooner or latter is going to burst and come down to earth. 





Indeed, and quite unexpectedly, Obama's economic, fiscal and monetary policies hugely aggravated the wealth gap paving the way for the revolt of the forgotten, collapsing, disappearing middle class-that underlie the rise of Bernie Sanders on the Left and Trump on the Right; and led to the defeat of Wall Street's big money darling:  corrupt, two-faced lying, pay to play Hillary.



But now because of billionaire Donald's super rich 1% cabinet picks the Obama kool-aid drinking, business hating Left are predicting the absolute, catastrophic worst for this country. Seven weeks before Trump takes office they think they see the future with perfect prophetic clarity when they've been dead wrong about this man all along: wrong about him not surviving the first GOP debate ("he'll be laughed off the stage," they said); wrong about him never being the GOP nominee ("it will be Cruz, Rubio or Kaisich ," they said); wrong that the sex tape and groping lies had ruined his electability ("it made Hillary more likable and electable," they said); wrong he had no path to 270, and would lose in a Goldwater-like landslide    dragging down the Republican Party with him. 



But despite their failed record of pre-election predictions the Left is doubling down. Now with infallible certainty they see the next great depression ahead impoverishing and gutting our country and world; they believe with Michael Moore and Dana Milbank that "11/9 Trump" is the new Herbert Hoover (a 9/11 disaster in the making, see); that during his presidency Trump will crash Obama's over inflated stock market and weak, low growth economy throwing millions out of work; that his protectionist policies will start an international trade war killing US exports; and that after four or eight years of Trump the declining, dying, vanishing middle class will completely disappear and be a thing of the past. For the Left Trump has replaced fossil fuels and climate change as the greatest menace to humanity-more terrifying than ISIS, al-Qaida and all Islamic terrorists combined.



And when America is reduced to rubble and dust Trump (backed by the army and cops) will repeal and replace our democracy with a one party, totalitarian, white supremacist oligarchy; and he'll sign an executive decree making himself president for eternity. And the only hope of stopping him is the desperate Jillary three state recount (see); or the Electoral College waking up and making Hillary president.



This is the thinking that's breaking the brains of the berserko, unhinged, anti-Trump Left. And because of this I stopped watching Hannity,  O'Reilly, Tucker and FOX. It's way more fun seeing Trump drive Blitzer, Matthews, Cuomo  and Joe completely batshit loco. 











    1. Would anyone argue that Obama is greater than Harry Truman who finished his presidency with an approval rating in the 30s?

      1. I MUST come to the honorary defense of Pres.Harry S.Truman who had the awesome Patriots’ Courage to use the Atomic Bomb knowing full well that that decision would lead to possible many thousands of dead Japanese and negatively label him thru-out History..
        The Biased Media will not recognise that as many as 750,000 American Soldiers were estimated for casualties, – and as many as 1.5 to 2.5 Million Japanese were estimated for their casualties with any invasion of the Japanese Main Land.. Dropping the Bomb was a very necessary life-saving decision. Now about his low rating at the end of his two term presidency, really quite expected when the next possible US President is a WW-2 War Hero by the name of Gen.Dwight D.Eisenhower.

  1. Lowering income equality really means that working Americans are paying way too much in welfare tax thereby reducing their take home pay to almost that of welfare recipients.

  2. Since the lowest economic level is zero income, and there will ALWAYS be people with zero income, the only way to reduce income inequality is to make the rich poorer.
    This is not a viable solution.

  3. So, I worked 3 jobs and put myself through college. Worked my butt off in corporate America and at 54 I have a house and money in the bank. Conversely, “Jimmy” chooses to drink beer and smoke pot while working at the grocery store. At 54 he still lives with is parents and lives paycheck to paycheck.
    Income inequality? More like ambition and drive inequality.

    1. Rugged Individual, = You got that RIGHT.. I don’t owe nothing to the lazy, drug sucking, pot smoking, acid-rockers who feel let down by being asked to earn their own way.. If you don’t have anything “upstairs” – then don’t expect anything for your back pocket..

  4. Obama’s been trying to achieve income equality not by growing the economy, but by
    dragging middle income households down. What a jerk!

  5. More unemployment for all is not lower income inequality.

    It is spreading the pain more equally.

    A level playing field is often called a graveyard!

  6. How terrible it would be if we were all collectivized and equalized and alike. That would be a sort of robot society and UNFUN.

    What’s that French phrase? Hooray for the differences!

    1. Equality of outcome, your “robot society” cannot be expected where you have freedom (and thus a diversity of behaviors). Right! Hooray for the differences!

    1. Income inequality cannot be solved by any government action

      Sure it can. Just look at the great results (and trillions of dollars spent) of LBJ’s Great Society scheme.
      Oh wait …

  7. Income equality could only be achieved by making everything the same across the board—thus removing any incentive to produce. A system of “equality” cannot exist.

    1. Regal Eagle – you make a good Point regarding “incentive to produce.” 15yrs ago I became acquanted with a Russian Col. who flew Mig 15’s till he was retired from the Russian Airforce and then moved to the US..
      I asked Him to explain the difference in the economic systems of Socialist Russia with their “equality” based on need – as compared to America where you get to keep most of what personal ambition has gained for you.. His explanation is-was very interesting: “In collectivist-socialist Russia they pretend to pay us, – so we pretend to work for them..”

  8. “There is in fact a manly and legitimate passion for equality that spurs all men to wish to be strong and esteemed. This passion tends to elevate the lesser to the rank of the greater. But one also finds in the human heart a depraved taste for equality, which impels the weak to want to bring the strong down to their level, and which reduces men to preferring equality in servitude to inequality in freedom.”

    De Tocqueville

  9. The best thing that could happen to the dying middle class would be to return to our protectionist roots that created the USA industrial might on the first place.

  10. You’re right about a coming market crash Apollo. There’s going to be a major correction. Hopefully it will happen before Trump assumes office.

  11. ‘It’s way more fun seeing Trump drive Blitzer, Matthews, Cuomo and Joe completely batshit loco.’

    I Watch Election Returns On CNN And MSNBC For That Very Reason.

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