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Wednesday, August 10, 2016

How Obama Changed From Populist to pro-Wall Street in '08

We're going to start today's post with a 100% undeniable Fact that no amount of liberal Democrat revision double talk will change...

Obama is a genuinely Horrible President and the Only reason he got elected was skin color and playing up the history of the moment

No Caucasian could ever have become a US Senator (Obama in 2005) then Instantly decide to run (mid 2007) while completely ignoring his constituency and then take over the highest office in the land (2008)

Even JFK served in the Senate for 6 years prior to running..
So many worthless liberals love the mulatto.  Really not sure why

The man is given so much undeserved credit for fixing the economy when he merely papered over the mold and decay while in the process abandoning every single 2008 campaign process to reform Wall Street and deal head-long with corruption..

To understand the present, you must go back in the past, so we want to provide some context vis a vis an Excellent article written in December 2009 by Matt Taibbi of Rolling Stone magazine who covered the 2008 crisis more accurate and astute than 99.9% of the media
"Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. 

He pushed a tax plan to soak the rich, ripped NAFTA for hurting the middle class and tore into John McCain for supporting a bankruptcy bill that sided with wealthy bankers "at the expense of hardworking Americans." ...

What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing.

Then he got elected.
What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. 

Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. 

What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. 
This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside.

How could Obama let this happen?  Is he just a rookie in the political big leagues, hoodwinked by Beltway old-timers? 

Or is the vacillating, ineffectual servant of banking interests we've been seeing on TV this fall who Obama really is?
Whatever the president's real motives are, the extensive series of loophole-rich financial "reforms" that the Democrats are currently pushing may ultimately do more harm than good. 

In fact, some parts of the new reforms border on insanity, threatening to vastly amplify Wall Street's political power by institutionalizing the taxpayer's role as a welfare provider for the financial-services industry. 

At one point in the debate, Obama's top economic advisers demanded the power to award future bailouts without even going to Congress for approval - and without providing taxpayers a single dime in equity on the deals."
So the question becomes: How did Obama successfully pull a 180, open his black mouth and basically basically cock-suck & ball-massage Wall Street and the corporations when he convinced millions of idiot Democrats he was their Champion of economic fairness?

Let's go back to that Taibbi article for the answer..

"How did we get here? It started just moments after the election - and almost nobody noticed.
Barack Obama was still just the president-elect when it happened, but the revolting and inexcusable $306 billion bailout that Citigroup received was the first major act of his presidency. 

In order to grasp the full horror of what took place, however, one needs to go back a few weeks before the actual bailout - to November 5th, 2008, the day after Obama's election.

That was the day the jubilant Obama campaign announced its transition team. 
Though many of the names were familiar - former Bill Clinton chief of staff John Podesta, long-time Obama confidante Valerie Jarrett - the list was most notable for who was not on it, especially on the economic side. 

Austan Goolsbee, a University of Chicago economist who had served as one of Obama's chief advisers during the campaign, didn't make the cut. Neither did Karen Kornbluh, who had served as Obama's policy director and was instrumental in crafting the Democratic Party's platform. 

Both had emphasized populist themes during the campaign: Kornbluh was known for pushing Democrats to focus on the plight of the poor and middle class, while Goolsbee was an aggressive critic of Wall Street, declaring that AIG executives should receive "a Nobel Prize - for evil."

But come November 5th, both were banished from Obama's inner circle - and replaced with a group of Wall Street bankers."
Like we said, the article was Excellent and really deserving of a read if you want to know how deeply Corrupt and disgusting Disingenuous this rotten maggot President is..
 
It is a long read but well worth it..


So why didn't the people rise up in protest or vote the black bastard out of office in 2012?
Because people even Democrats are greedy, self-centered and really only care about themselves.

As long as their 401k grows by $100, or stock values rise by $1 a share, it does not matter a damn that it took $4 Trillion (12 zeroes) in Fed Injection which converts to additional National Debt to provide that buoyancy

And the Worthless to the core Hollywood celebritydom, most with nothing more than high school and community college diplomas who think they know the world because of their involvement in international press junkets to promote films, all embrace the servant boy of Wall Street, really believing he made the nation better..
From MarketWatch:  "Productivity, a sore spot for the U.S. economy over the past few years, has now declined in three straight quarters, according to data released Tuesday.

Productivity in the second quarter unexpectedly fell 0.5%, well below expectations, the Labor Department said. Economists surveyed by MarketWatch had forecast a 0.3% gain in productivity in the quarter.  ** That is a 0.8% differential..

Productivity is down 0.4% from a year earlier, the first year-over-year decline since the second quarter of 2013..
Productivity measures how much an employee produces in an hour of work. Higher productivity is regarded as the key to a rising standard of living over time because it tends to lead to higher pay for workers and larger profits for companies.

The average annual rate of productivity growth from 2007 to 2015 has sunk to 1.3%, well below the long-term rate of 2.2% per year from 1947 to 2014."

Just one of hundreds of statistical and financial indicators this President is an abject failure
And had he not been black, he would not have even won the Democrat nomination in 2008 much less the Presidency..

Of course Hillary would have been President so who knows which is worse.. Both are corrupt, greedy Wall Street Whores with political axes to grind

Two jugs of rotten, stale milk - one white, one chocolate.. Both rancid.. 

Does it really matter which one drinks from?