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After criticisms by talk show host Bill Maher about Obama’s record on defense spending and lack of tax policy that would tax the wealthy, Maher muted his criticisms and wrote a one million dollar check to a Super pac for the President when he realized that “You just run back into his arms,” when a possible Romney presidency is considered. In “Democracy in the Streets” (CounterPunch, April 23, 2012), I make the point that the Democratic Party has foisted the banner of being the only show in town (and many voters are driven to conclude that Democrats are the lesser of two evils every four years), with the result of bringing progressives, liberals, and union members into the fold where those groups have been most often rewarded with absolutely nothing in return for their allegiance to Democrats over the past 35 years.
Now with Hollywood’s dream factory cheering Obama on, many voters may forget the $8.2 trillion that has been lost in home equity since the housing bubble burst in 2007. That’s more than a 60 percent loss in home equity noted in a report from the Federal Reserve Bank of New York (“Home Equity Declines More than 60% During Great Recession,” Reverse Mortgage Daily, February 13, 2011). Much of the money from the President’s stimulus package of $787 billion could have gone to homeowners who were most damaged by the housing bust. Instead, that money went to Wall Street where banks like JP Morgan Chase are still playing fast and loose with derivatives while hindering any attempts to regulate investment banks. Full story...
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After criticisms by talk show host Bill Maher about Obama’s record on defense spending and lack of tax policy that would tax the wealthy, Maher muted his criticisms and wrote a one million dollar check to a Super pac for the President when he realized that “You just run back into his arms,” when a possible Romney presidency is considered. In “Democracy in the Streets” (CounterPunch, April 23, 2012), I make the point that the Democratic Party has foisted the banner of being the only show in town (and many voters are driven to conclude that Democrats are the lesser of two evils every four years), with the result of bringing progressives, liberals, and union members into the fold where those groups have been most often rewarded with absolutely nothing in return for their allegiance to Democrats over the past 35 years.
Now with Hollywood’s dream factory cheering Obama on, many voters may forget the $8.2 trillion that has been lost in home equity since the housing bubble burst in 2007. That’s more than a 60 percent loss in home equity noted in a report from the Federal Reserve Bank of New York (“Home Equity Declines More than 60% During Great Recession,” Reverse Mortgage Daily, February 13, 2011). Much of the money from the President’s stimulus package of $787 billion could have gone to homeowners who were most damaged by the housing bust. Instead, that money went to Wall Street where banks like JP Morgan Chase are still playing fast and loose with derivatives while hindering any attempts to regulate investment banks. Full story...
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