Naked Capitalism: Obama's Allegiance Is to the Capitalist Classes

[amborin]

More Proof That Obama is Herbert Hoover

Not only is Obama assuring that he will go down as one of the worst Presidents in history, but for those who have any doubts, he is also making it clear that his only allegiance is to the capitalist classes and their knowledge worker arms and legs.

You don’t need to go further than the first page of today’s New York Times for proof. The Grey Lady has realized rather late in the game that automatic stabliizers and emergency programs have been propping up the economy, and the fact that they are soon to disappear will be more than a bit of a downer. Apparently it is now OK for Pravda to make that shocking revelation from Moody’s (the source of the key data in the article) because the budget debate is so far advanced that the executioner has already started the downward swing of his axe; the only question is whether he will get a clean kill of the average citizen’s economic wellbeing or whether it will be a protracted, messy death.

From the New York Times:

snip

".....Close to $2 of every $10 that went into Americans’ wallets last year were payments like jobless benefits, food stamps, Social Security and disability, according to an analysis by Moody’s Analytics. In states hit hard by the downturn, like Arizona, Florida, Michigan and Ohio, residents derived even more of their income from the government.

.....By the end of this year, however, many of those dollars are going to disappear, with the expiration of extended benefits intended to help people cope with the lingering effects of the recession. Moody’s Analytics estimates $37 billion will be drained from the nation’s pocketbooks this year....."

snip

....... Obama, rather than the Republicans, pushing for $4 trillion in deficit cuts:

snip

Even knowing how dedicated to bad ends Obama is, I still feel like I’ve walked into a parallel universe. He’s now determined to make these horrific entitlement cuts a sign of his manhood. This is “Change” for sure, to a more brutal, grasping, dog eat dog society, all administered by self serving elites. They will in the end reap the whirlwind they are creating, but not before it mows a path of destruction through our social order

http://www.nakedcapitalism.com/2011/07/more-proof-that-obama-is-herbert-hoover.html

[xchrom]

1. Indeed. Nt

[Karmadillo]

2. K&R. Brutal assessment, but hard to rebut based on his actions.

nt

[MissDeeds]

3. Ouch

K&R

[Starry Messenger]

4. k&r

[ProSense]

5. Hmmmm?

"More Proof That Obama is Herbert Hoover

Not only is Obama assuring that he will go down as one of the worst Presidents in history, but for those who have any doubts, he is also making it clear that his only allegiance is to the capitalist classes and their knowledge worker arms and legs. "

:rofl:

[pnorman]

8. "their knowledge worker arms and legs"

Yeah, that got me scratching my head too!

[ej510]

6. Chicago School Of Economics. Nothing more needs to be said.

Tom Friedman.

[jaxx]

7. Is that a Breitbart site?

[DeSwiss]

9. K&R

"We can have democracy in this country or great wealth accumulated in the hands of a few, but we can't have both." ~Louis D. Brandeis

[Hydra]

10. The funny thing is that everyone thinks the rich won't do it

After all, they cut us, and there's less money for them.

Orwell knew better. They don't care about the money...it's the POWER they love.

And that power they consolidate more every day...