100 Billion in Tax Cuts for the Nation's Wealthiest?
As James Corbett (@corbettreport) points out,
For those keeping track at home, that's 3,453 days of uninterrupted gains as of last Wednesday.
The first thing you'll notice is how they play up the post-Lehman "recovery," justifying the record-breaking streak by touting the "skyrocketing" valuations of companies like Netflix and Amazon. But if you read in between the lines of that blather, you'll notice how they blithely admit that the markets were helped along by "unprecedented aid from the Federal Reserve." You don't say. As readers of this column will already know, the Fed's flood of funny money in the years after the Lehman collapse was directly responsible for 93% of the market's rise from 2008-2016. 93%!
Tax Cuts for the 0.01%
In an interview with Bloomberg president Trump is reported to have remarked:
There are a lot of people that love it and some people that don’t, but I’m thinking about it very strongly.
The remarks come on the heels of a national wage freeze on all federal employees.
In essence, there's no money for the middle class and working class Americans but plenty to spare for the country's wealthiest families.
Billions for Billionaires, is Anyone Surprised?
Billionaire businessman Donald Trump, now president of the United States, with the richest cabinet ever assembled are preparing to hand over billions to their billionaire peers... seems about right.
When Trump entered the Whitehouse in January 2017, he filled his cabinet with a whole slew of former Goldman Sachs executives.
I wrote about the Goldman Sachs / Vampire Squid and the continuation of government last year in this post -
During the presidential race Democratic nominee Hillary Clinton was paid more than $250,000 dollars for a single speech by the Goldman brass which inevitably contributed to her failed campaign. Meanwhile, Mr. Trump said he could not be bought by Wall Street since he claimed to be self-funded.
However, despite pledging to 'Drain the Swamp' while campaigning for president, Donald Trump has filled his administration with Swamp Monsters including, but coming as no surprise, several prominent former officials from Goldman.
Steve Mnuchin US Treasury Secretary
- Former executive at Goldman Sachs
Gary Cohn - National Economic Counsel
- Former Chief Operating Officer at Goldman Sachs
James Donovan - US Deputy Treasury Secretary
- Former managing director at Goldman Sachs
Stephen Bannon - White House Chief Strategist
- Former executive at Goldman Sachs
Dina Powell - W.H. senior counselor for economic initiatives
- Former Head of Impact Investing at Goldman Sachs
Jay Clayton - Chairman of the SEC
- Former Goldman Sachs lawyer
Source: The Hill
Out in the Open Oligarchy
It certainly feels as if the mask is coming off. The reality that America is an oligarchic state is being revealed and the superficial facade of democracy is slowly being stripped away. We can argue semantics about whether the United States is an oligarchy, a plutocracy, a corporatocracy, a kakistocracy, a technocracy or what have you but the truth of the matter is that American democracy is in advanced decay.
In 2014, Princeton and Northwestern Universities published a stunning paper: Testing Theories of American Politics: Elites, Interest Groups and Average Citizens concluding that only a few powerful actors, special interest groups and wealthy elites are able to influence US policy. Meaning, the average US citizen has absolutely zero sway over government and economic policy. The US system is completely dominated by a small percentile of the upper class.
US is an Oligarchy PDF LINK
Coke vs. Pepsi - More Cola or More Cola
The system is in a state of paralysis. Both political parties, the Republicans and Democrats, are controlled by their corporate masters and special interest groups.
The Vampire Squid continues to squeeze all levels of government for tax payer dollars and Wall Street representatives permeate the halls of government. Although this has been going on for decades, it's reaching a climax as corruption and greed run rampant.
If one can step back from partisan politics and look at the system with clear eyes it's possible to see the illusions put in place all around us. It matters not which leader is paraded around in front of us, we must learn to see the repeating patterns of this reoccurring nightmare. In this tornado of distraction we must see those that perpetuate the status quo. The players change but the game remains the same. The game is rigged. Continuity of government means more of the same no matter who's president.
[Find more Venn's like this by @geke right here on the Steem blockchain]
There's trillions for wars and the arms industry.
There's billions in bailouts for Wall Street.
There's tax breaks for the wealthy.
There's serfdom for the rest of us.
Who remains when our puppet leaders Bush, Obama and even Trump disappear?
Vampires with blood funnels and multiple appendages... leeching off the system, sucking it dry and gorging at the trough of public funds turning us into serfs.