“You’re an errand boy, sent by grocery clerks, to collect a bill.” — from the 1979 film “Apocalypse Now”
The United States has become a stacked game for the mega rich and a sucker’s game for the growing poor. Today, it is President Barack Obama who heads this tragedy — stealing from the middle class to pay off the rich while manipulating multitudes of the millions to become needful and poor, compliant and cowering.
The once proud and independent American middle class is being gutted. And no President has done more to eviscerate it than Obama, whose handlers urge him to build a socialist nation for the ever-increasing number of needful people while at the same time giving power to an oligarchy of billionaires who have ultimate authority and pull the puppet strings on their patsy: an African-American community leader dug up in Chicago, turned into a junior Senator and then made President.
In exchange, Obama has done exactly as ordered. He has made the billionaires even richer while shoveling millions of dollars in aid to the once-proud middle class, who have lost their jobs in manufacturing because Obama and previous Presidents systematically gave away American technology and destroyed the factories that built this Nation.
And so it goes. America’s debt levels soar, as do American stocks. That wealth is not going to the American worker, but to the deal makers and paper pushers who sit in plush offices and live a lifestyle like the French autocracy on the eve of the French Revolution.
But Washington has learned some history. They use the media to make the people afraid of myriad enemies and make us thankful to “eat cake” so long as it comes with booze, lotto, movies and sports and, in some States, marijuana.
And King Barry has something Louis XVI never had — an intelligence network that spies on each and every citizen. There will be no Maximilien Robespierre or Jacobins to orchestrate a march on the White House regardless of what this jester President does.
Why Wall Street Loves Obama
The only money being made in America nowadays is by the geniuses in Silicon Valley, which is deserved, and by the money changers on Wall Street, which is undeserved.
Timothy Smeeding, head of the Institute for Research on Poverty at the University of Madison-Wisconsin told The New York Times:
Almost all of the benefits of growth since the trough of the Great Recession have been going to those in the upper classes. Middle- and lower-income families are getting a smaller slice of a smaller economic pie as labor markets have changed drastically during our recovery.
I spent enough time as a stockbroker that I felt like killing myself. Nothing productive resulted from my efforts or the efforts of anyone else at that office. But there were star money makers there, and in New York there are bushels of stars that gamble trillions of dollars every day and make personal fortunes doing it.
Obama has been ordered to curry favor with Wall Street, despite his initial campaign promise to crack down on the investment banks that took the world to the edge of economic collapse and whose mistakes led the Federal Reserve to the largest monetization of debt in history. Today, the U.S. Treasury begs our competitors and future enemies such as Russia and China to invest in additional Treasury bills, notes and bonds at debt auctions that both Moscow and Beijing understand will one day be worthless. Yet they play along until there is either a new reserve currency or a gold standard.
Obama was bought and paid for by big money powers, and he has done well at serving the interests of big money. He demanded nothing after putting up $700 billion in the Troubled Asset Relief Program (TARP) for the investment banks whose blind greed and reckless practices drove America toward the worst economic crisis in history. Of course, these are the investment banks that appointed Obama as President twice.
The Way We Were
America wasn’t like that when I got started as a writer more than 30 years ago. My wife bought me suits off the sales racks at Sears because we had a young family and a big mortgage. Back then, I was mostly a proofreader and a researcher. My friends were in the same boat, and we used to say over the course of the day: “What’s the Dow doing?”
Nobody asks that anymore. Maybe that’s because of the Internet, but I think there is another reason. I don’t think middle-class people have the money to invest in the stock market anymore. By the time they pay the bills, the mortgage and car insurance, few can even think of taking a position in the Dow or any blue chip stocks.
I could take a position of 100 shares in a stock for $1,000 or $2,000. That would be a stock trading at $10 or $20 per share. In 1984, a share of Apple (AAPL) cost $20. Today, a share costs well more than $500. Of course, the value of Apple shares has soared; but stock splits have not kept pace.
Do you know anyone who can pull $50,000 out of their bank account and buy a token position in Apple? I don’t. As a result, Apple is almost exclusively traded between mutual funds, brokerage houses, investment banks and the ultra-rich.
Last year, Wall Street bonuses rose by 15 percent. That makes the overall bonus totals close to $27 billion in 2013 or the most since the infamous pig-fest in 2008 when Wall Street got stinking rich while almost destroying the global economy. Keep in mind this is bonus money, not salary money. Bonus money based on performance — how much brokers and dealers sold to unsuspecting suckers even if they were colleagues and friends.
No surprise that Wall Street insiders contribute to the truth that starting two years ago, the top 10 percent of U.S. households made more than 50 percent of total U.S. income.
The Secret War On The Middle Class
Nearly 50 million Americans are on food stamps. That is more than the number of women in the country who have full-time jobs.
The Department of Agriculture lists the annual average number of food stamp participants going back to 1969. That year, there were 2.9 million people on food stamps. Since then, food stamp participants have increased by more than 1,600 percent. In 1969 there were 15.7 million women who worked full-time in the U.S. At the end of 2012, that total had increased by 181 percent.
Obama and previous patsy Presidents have made it easy for tens of millions of Americans to give up, sit back and collect government money. At the same time, the Federal government has done little to help women become wage earners — workers who pay taxes, invest back into America and build a better future.
But on goes the puppet show: the Obamas saying they are fighting against obesity in children while forcing healthcare on millions of people who don’t want it. Then there are others — leaders like House Minority Leader Nancy Pelosi, who holds on to regal power the way Queen Victoria did, and Republican Senator John McCain, who is as bent on empire building as Otto von Bismarck was in the 19th century.
And who are we to stop them? President George W. Bush begat Obama, and Obama will begat the next patsy President. The wolves of Wall Street will get ever fatter, while we on Main Street are left to starve.
Obama is an errand boy, sent by grocery clerks, to collect a bill.
Yours in good times and bad,