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What Obama Isn’t Telling American Workers
A lot is happening in the tumultuous realm of global economics. The “Great Recession” has caused tectonic shifts internationally, with outcomes that will dramatically change the lives of millions of people in the U.S. and beyond. And while Obama is acknowledging this fact with repeated references to “a new world order,” he isn’t explaining how this adversely affects working-class Americans. The truth would be far too “controversial.”
The first unmentionable fact is the inevitable, long-term decline of the dollar, a phenomenon that can now be considered government policy. The business magazine Forbes comments:
“The Treasury Department would never admit this, but for the time being it's in the country's interest to keep its currency low because it stimulates exports for the economy's manufacturing base and lowers the value of the debt that the Treasury is piling up.” (October 5, 2009)
These policies are essentially economic attacks on foreign corporations and governments, and U.S. workers.
A cheaper dollar means an off-shoring of America’s debt onto countries like China and Japan — and foreign corporations, who are large buyers of U.S. currency and/or debt. These foreign entities have already issued public warnings about this dynamic, and will not sit forever as their investments turn to mush. Economic retaliation should be expected.
A cheaper dollar also antagonizes foreign corporations in another way. U.S. corporations benefit from dollar deflation because it lowers the price of their goods/exports on the global marketplace. But foreign competitors can play this game too, and the result would be economic warfare.
Most importantly, a cheaper dollar lowers the living standards of U.S. workers, since the price of foreign goods will become inflated. With a catastrophic U.S. debt, inflation will continue for years to come. Obama’s silence on the issue equals a premeditated plan to pursue the above objectives. Workers will thus be forced into demanding wage increases that match this new inflation.
Another big secret Obama is keeping from workers is also U.S. debt related (keep in mind much of U.S debt is the result of fighting foreign wars and bailing out banks). Under Obama these policies will continue; “sacrifices” are going to be made in other areas. Obama has already talked at length in favor of “reforming entitlement programs,” without mentioning loudly that these include Social Security, Medicare, and other much needed social programs. The Democrats' priorities are perverse; money for war and banks, but not for those who really need it.
Obama’s secrets were partially revealed at the recent G-20 summit. There, Obama pushed a plan that aimed “to reform the global architecture to meet the needs of the 21st century.” Part of the plan said that “G-20 members with sustained, significant external deficits [the U.S.] pledge to undertake policies to support private savings and undertake fiscal consolidation while maintaining open markets and strengthening export sectors.”
In plain English this means that the U.S. will reduce its debt by slashing domestic consumption and increasing exports. Reducing “domestic consumption” is another often-used codeword for lowering the standard of living of U.S. workers through lower wages and the elimination of “entitlement programs.” Once workers' wages have been reduced low enough, U.S. corporations will be able to export more on the global marketplace, the other key to Obama’s G-20 plan.
These plans are not mere schemes for conspiracy theorists; they’re already being implemented. Massive unemployment has a direct, negative impact on workers' wages. The Democrats know this and are using it as a tool to enforce the pro-corporate G -20 policy. What else explains the deafening quiet from Obama around unemployment — already a social catastrophe ruining the lives of millions of people?
Another way the G-20 plan is already being enforced is by the restriction of credit for workers and small businesses. A recent Wall Street Journal article was titled, "The ‘Democratization of Credit' Is Over -- Now It's Payback Time." (October 10, 2009) The “democratization of credit” simply means that workers and low-income people had access to credit if they needed it. No more. Credit that was once used to cover end-of-the-month expenses and emergencies will once again be a privilege of the highly paid and wealthy.
Workers must understand that the current effects of the Great Recession are to become the new rules of the “reformed” U.S. economy. The living standards of the past are to stay in the past. Before, U.S. workers took out enormous amounts of debt to maintain their standard of living, since wages and benefits were steadily shrinking. The hope was that the economy would improve, and better times would return. The reality is far different.
The U.S. economy is losing its place of total dominance in world affairs. And instead of the U.S. government reacting to this by adding social programs, they are taking them away. Government money will continue to bail out banks when needed while funding trillion-dollar wars.
Once the reality of the above situation can no longer be denied, and U.S. workers recognize these policies as a corporate and government attack on their collective standard of living, they can begin to act. Workers without unions will fight to organize them. Those organized workers will push their unions to fight back by building united coalitions -- representing the majority of working people -- to organize massive demonstrations, protests, and strikes to demand a recovery plan to benefit the working-class and unemployed. The conditions that led to the large U.S. workers' struggles of the 1930s and 40s are reappearing, and workers will act accordingly.
-Shamus Cooke is a social service worker, trade unionist, and writer for Workers Action (www.workerscompass.org). He can be reached at shamuscook@yahoo.com
How well is Obama's stimulus plan working if jobs are not being created..? is it too early to dtermine ? more ques. than answers..
The first unmentionable fact is the inevitable, long-term decline of the dollar, a phenomenon that can now be considered government policy. The business magazine Forbes comments:
“The Treasury Department would never admit this, but for the time being it's in the country's interest to keep its currency low because it stimulates exports for the economy's manufacturing base and lowers the value of the debt that the Treasury is piling up.” (October 5, 2009)
These policies are essentially economic attacks on foreign corporations and governments, and U.S. workers.
A cheaper dollar means an off-shoring of America’s debt onto countries like China and Japan — and foreign corporations, who are large buyers of U.S. currency and/or debt. These foreign entities have already issued public warnings about this dynamic, and will not sit forever as their investments turn to mush. Economic retaliation should be expected.
A cheaper dollar also antagonizes foreign corporations in another way. U.S. corporations benefit from dollar deflation because it lowers the price of their goods/exports on the global marketplace. But foreign competitors can play this game too, and the result would be economic warfare.
Most importantly, a cheaper dollar lowers the living standards of U.S. workers, since the price of foreign goods will become inflated. With a catastrophic U.S. debt, inflation will continue for years to come. Obama’s silence on the issue equals a premeditated plan to pursue the above objectives. Workers will thus be forced into demanding wage increases that match this new inflation.
Another big secret Obama is keeping from workers is also U.S. debt related (keep in mind much of U.S debt is the result of fighting foreign wars and bailing out banks). Under Obama these policies will continue; “sacrifices” are going to be made in other areas. Obama has already talked at length in favor of “reforming entitlement programs,” without mentioning loudly that these include Social Security, Medicare, and other much needed social programs. The Democrats' priorities are perverse; money for war and banks, but not for those who really need it.
Obama’s secrets were partially revealed at the recent G-20 summit. There, Obama pushed a plan that aimed “to reform the global architecture to meet the needs of the 21st century.” Part of the plan said that “G-20 members with sustained, significant external deficits [the U.S.] pledge to undertake policies to support private savings and undertake fiscal consolidation while maintaining open markets and strengthening export sectors.”
In plain English this means that the U.S. will reduce its debt by slashing domestic consumption and increasing exports. Reducing “domestic consumption” is another often-used codeword for lowering the standard of living of U.S. workers through lower wages and the elimination of “entitlement programs.” Once workers' wages have been reduced low enough, U.S. corporations will be able to export more on the global marketplace, the other key to Obama’s G-20 plan.
These plans are not mere schemes for conspiracy theorists; they’re already being implemented. Massive unemployment has a direct, negative impact on workers' wages. The Democrats know this and are using it as a tool to enforce the pro-corporate G -20 policy. What else explains the deafening quiet from Obama around unemployment — already a social catastrophe ruining the lives of millions of people?
Another way the G-20 plan is already being enforced is by the restriction of credit for workers and small businesses. A recent Wall Street Journal article was titled, "The ‘Democratization of Credit' Is Over -- Now It's Payback Time." (October 10, 2009) The “democratization of credit” simply means that workers and low-income people had access to credit if they needed it. No more. Credit that was once used to cover end-of-the-month expenses and emergencies will once again be a privilege of the highly paid and wealthy.
Workers must understand that the current effects of the Great Recession are to become the new rules of the “reformed” U.S. economy. The living standards of the past are to stay in the past. Before, U.S. workers took out enormous amounts of debt to maintain their standard of living, since wages and benefits were steadily shrinking. The hope was that the economy would improve, and better times would return. The reality is far different.
The U.S. economy is losing its place of total dominance in world affairs. And instead of the U.S. government reacting to this by adding social programs, they are taking them away. Government money will continue to bail out banks when needed while funding trillion-dollar wars.
Once the reality of the above situation can no longer be denied, and U.S. workers recognize these policies as a corporate and government attack on their collective standard of living, they can begin to act. Workers without unions will fight to organize them. Those organized workers will push their unions to fight back by building united coalitions -- representing the majority of working people -- to organize massive demonstrations, protests, and strikes to demand a recovery plan to benefit the working-class and unemployed. The conditions that led to the large U.S. workers' struggles of the 1930s and 40s are reappearing, and workers will act accordingly.
-Shamus Cooke is a social service worker, trade unionist, and writer for Workers Action (www.workerscompass.org). He can be reached at shamuscook@yahoo.com
How well is Obama's stimulus plan working if jobs are not being created..? is it too early to dtermine ? more ques. than answers..
Tags: obama, unemployment, workers
Replies to This Discussion
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Permalink Reply by Peter Darryl Slaughter on -
Peace and what is new ? Here in dayton,ohio the high numbers of unemployed black people is no joke.
Plus it has been a surge in black on black crime,violence. Which relates to all types of drug using and drug
selling.'
Take a look at this site ? http://www.sjgames.com/lilluminati
Here we are people with the end of the world state of mind.
It seems like religous types want to be right,so I think they want things to down as it may unfold to justify
all their faith and belief.
To me it's a form of mental slavery that should have been left on a planation long time ago.
So it's obvious it was not left,because the state of mind is alive well.
I say black america needs new paradigm of mental,social,econimic and spirtual liberation instead
of waiting for goverment relief.
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Permalink Reply by jamilah on -
oh, i have been following peter schiff for some time... i like the guy, and he was doing this whole thing in running for senator. hmmm... they would try to eat him alive.
the stuff in this article i discuss all the time. the stuff in this article is also the reason i do not get food stamps, have credit or take any sort of government loans out. i saw this coming years ago. if you utilize anything from the government it will come to bite you back.
also, if one could afford it one should purchase and invest in precious metals, for when the economy truly fails. or invest in so-called 'foreign' currency. all those millionaires do it. why should we not do it?
people depend too much on the dollar, when it isn't worth anything. we are trillions of dollars in debt, and people still claim we are powerful. if china and/or japan right now were to stop letting us borrow money we'd be in trouble.
and let's not get into the pope benedict with the papal documents about the 'economic world order'... this has all been planned. be very aware.
this is a good article; i will share it. thanks.
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Permalink Reply by Jonathan on -
The thing about is that alot these wealthy blacks are going to get the shock their lives knowing that the dollar is slowing becoming nothing. Wealthy now! broke later! but they are too caught up to see it! The american dollar is not worth much any more. If blacks don't wake up they be in a tailspin that can not get out of.
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Permalink Reply by Cliff on
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Albogie, I really don't trust the source. His family is from the Architects of the Synogogue of Satan.
Schiff!
Do your Homework, please people.
I am tired of how every time we go through a calamity, the Satanic rich always end up on top. September 11th, they still are on top. Hurricane Katrina, they still are on top. We die, they live, and continue to walk over Black bodies.
This can not take place when the economy totally collapses.
Know Why?
Why would the satanic tell you an exit strategy to escape the economic crisis?
‘I’m rich, and I thrive off of the poor, because I stand on their backs, economically. I own billions in precious metals, therefore come to me and buy all you can, when the economy collapses, and I still stay on top.’
Please.
Put that dead, indebted American dollar in some Black pockets. That’s my gold, that’s my diamonds, that’s my precious metals.
One word, UNITY.
We UNITE, we are a people, a country, a nation, then we set up International trade, not you are real opponents to Satan. Our unemployment rate can be solved instantaneously, if we do this. Now I'm ridin for my people. Now I'm ridin against my enemy. Now I dont give a damn if a Safe Negro in a high position does not want ot help his own people, and continue to push the agenda of the Illuminati.
Now I'm pleasing God
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Permalink Reply by alboogie on -
peace my bro. it's been awhile... Schiff was not the focus of the post, and to be honest, at least for me, his family background is of no concern to me at this point. His info on what is not being reported in the media or by Pres. Obama was used as support, nothing more. if you check his info, you'll find he is very accurate. i don't judge a book by it's cover, and even "Satan"(lucifer-light bearer) can speak truth... how else can he tempt, malign, and persuade a creation of god - MAN/WOMAN
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Permalink Reply by Cliff on
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Alboogie, you’re right we shouldn’t judge a book by its cover. We are going to have to start buying gold now. The conscious white community already knows this, but how many of us know? As the U.S. dollar falls, we have to get prepared and make military procedures of how were going to survive from 2010, and beyond. I believe our Black Leaders are going to make this announcement soon. :)
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Permalink Reply by Black Talk Media Project on
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