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.
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.
11/9 ANTI-TRUMP HYSTERIA ENGULFS THE LEFT WHEN 11/9 IS 9/11 REVERSE
BARACK OBAMA: THE PRESIDENT WHO SAVED THE U.S. AND WORLD ECONOMY FROM A SECOND GREAT DEPRESSION?
MR. PRESIDENT: THE ECONOMY SUCKS BECAUSE YOU’RE A LEFTIST IGNORAMUS