imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
latest news
best of news




A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network:

Original Cities africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Obama's Fake Economic Recovery

by Stephen Lendman Saturday, Jan. 11, 2014 at 11:48 PM

class war

Obama's Fake Economic Recovery

by Stephen Lendman

Shortly after he took office in 2009, headlines touted recovery. It never began. It doesn't exist. Protracted Main Street Depression conditions affect growing millions.

Things go from bad to worse. Human suffering is real. Pathetically little is done to help. Neoliberal harshness is official policy. Both parties support it.

Obama's agenda is anti-populist. He targets America's most disadvantaged. He's done so throughout his tenure. He deplores social justice.

He's gutting America's New Deal and Great Society. He's waging class war. He's force-feeding pain and suffering.

He's got lots more planned ahead. He wants maximum wealth shifted to corporate America and super-rich elites. He wants it stolen from ordinary people to benefit them. He lies claiming otherwise.

Social safety net protections are disappearing on his watch. It's happening when they're most needed.

Rogue politicians don't care. Bipartisan complicity bears full responsibility. Obama does most of all.

He demands neoliberal harshness. Since taking office, he's cut numerous social programs. He wants Medicare and Social Security privatized en route to eliminating them altogether.

He's beholden solely to monied interests. They own him. They make policy. Whatever they want they get. It comes at the expense of popular interests.

Friday's jobs report reflects dismal conditions for most Americans. One analyst called it "piss poor." Market's Karl Denninger said it "sucks."

December's report makes "lies (about economic recovery) a hell of a lot harder to believe," he added.

Friday's report followed the worst holiday season retail sales since 2009. Blaming it on bad weather doesn't wash.

It was marginally below normal. Super-storm Sandy had little effect. It greatly impacted America's northeast.

It affected millions in 12 states. It hit New York City hard. America's largest metropolis shut down.

Heavily populated areas lacked power, heat and other public services across a wide region. Up to two weeks or longer were required to restore them in some areas.

Storm conditions and aftermath had little effect on jobs creation. Blaming weather this time hides deep-seated problems.

Obama's notion of jobs creation is tax cuts for corporate America and super-rich elites. Nothing lifts millions out of poverty better than living wage-paying jobs. Lots of them.

Washington has no program to create them. Friday's report highlighted what's not addressed. Paul Craig Roberts offers some of the best analysis.

"(A)lleged recovery took a direct hit" on Friday, he said. It revealed reality for growing millions. It exposed wrongheaded policy.

Around 95% of jobs created were rotten ones. They were in low-pay/poor benefit wholesale and retain trade positions. They were largely part-time or temp.

They reveal a nation in decline. When the world's richest country can't produce living-wage jobs, race to the bottom dystopia follows. America is on a fast track toward it.

Saturday headlines downplayed disaster. Tout TV talking heads tried putting a brave face on economic failure. Roberts said he's been examining monthly jobs reports for years.

This one was disturbing, he said. "Normally a mainstay of jobs gains is in the category 'education and health services,' with 'ambulatory health care services' adding thousands of jobs," he explained.

Not this time. "Education and health services" added "zero."

"(A)mbulatory health care services" lost "4,100 jobs and health care los(t) 6,000 jobs." Roberts believes it's "a first." Maybe Obamacare shares blame, he said.

He calls it "possibly the worst piece of domestic legislation passed in decades." Indeed so. Previous articles explained.

It's a giveaway for major providers. It lets them profit hugely. Especially predatory insurers. It rations care for growing millions.

It raises costs at the same time. It increasingly makes coverage unaffordable. It promotes illness, not good health.

Friday's report showed school teacher layoffs. "Aren't Washington's priorities wonderful," said Roberts. One trillion dollars in annual QE for Wall Street. "(N)othing for school teachers."

What's ahead throughout 2014 remains to be seen. For sure living-wage jobs will be few and far between. Honest analysts were downbeat on Friday's report.

Pimco CEO Mohamed El-Arian called it "somewhere between puzzling and worrisome." It gives pause to alleged economic recovery. It's more fake than real.

Economics Professor Robert Prasch called Friday's report "disappointing but not surprising." Business hiring occurs when "current and projected revenues increase relative to costs," he said.

US wages declined since recovery began. Interest rates are near zero. Both factors constitute no "barriers to hiring," said Prasch.

Aggregate demand is to blame, he added. Consumer expenditures are constrained by over-indebtedness. Other demand related categories are lackluster.

"Absent anything driving aggregate demand, can we be surprised to learn that overall spending is failing to grow at anything like the pace required for a robust economic expansion," asked Prasch?

Future reports may or may not be better. They won't be good enough, he believes. He sees nothing driving economic growth any time soon. Hard times for growing millions will get harder.

A previous article said the fake unemployment rate dropped three-tenths of a percent to 6.7%. It's because hundred of thousands of discouraged workers stopped seeking jobs.

They can't find them. They're aren't enough around. Government policy bears full responsibility. Job creation isn't a federal priority. Pathetically little is done to help.

Around 155 million workers comprise America's labor force. In December, a shocking seasonally adjusted 490,000 dropped out. Seasonally unadjusted numbers fell 638,000.

Doing so bears witness to deplorable economic conditions. Poor quality jobs available explain more. Bush's record was abysmal. Obama's performance is much worse.

Practically nothing about December's report was encouraging. Labor force participation hit a 37-year low. For African American men, it was an all-time low. Major media reporting ignored it.

Indications suggest greater depths coming. Perhaps 2014 will be moment of truth time. Day of reckoning arrival is long overdue.

Friday's report puts a lie to so-called recovery. Protracted Main Street Depression conditions explain things best. Human misery does best of all.

Growing millions are affected. They've been thrown under the bus and forgotten. America's most disadvantaged suffer most.

Canada's report was worse. Nearly 46,000 jobs were lost. Unemployment rose to 7.2%. Perhaps more bad reports will follow.

So-called recoveries benefitting only privileged segments of societies aren't sustainable. Ones leaving growing millions behind suggests eventual trouble.

Force-feeding austerity when vital aid is needed perhaps assures it. Gerald Celente calls ongoing hard times "the greatest depression."

"When people lose everything and have nothing left to lose, they lose it," he says.

Perhaps it's just a matter of time. It may be the only way to change things. According to Occupy Wall Street, "the only solution is world revolution." What better time than now!

Stephen Lendman lives in Chicago. He can be reached at

His new book is titled "Banker Occupation: Waging Financial War on Humanity."

Visit his blog site at

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs Fridays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

Report this post as:

Local News


lausd whistle blower A10 11:58PM

Website Upgrade A10 3:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 1:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 11:58AM

Change Links April 2018 A01 11:27AM

Nuclear Shutdown News March 2018 M31 6:57PM

Join The Protest Rally in Glendale on April 10, 2018! M29 7:00PM

Join The Protest Rally in Glendale on April 10, 2018! M29 6:38PM

Spring 2018 National Immigrant Solidarity Network News Alert! M19 2:02PM

Anti-Eviction Mapping Project Shows Shocking Eviction Trends in L.A. M16 5:40PM

Steve Mnuchin video at UCLA released M15 12:34AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Clean Ups M06 12:10PM

After Being Told He's 'Full of Sh*t' at School Event, Mnuchin Demands UCLA Suppress Video M02 11:44AM

Resolution of the Rent Strike in Boyle Heights M01 6:28PM

What Big Brother Knows About You and What You Can Do About It M01 3:30PM

Step Up As LAPD Chief Charlie Beck Steps Down F14 2:44PM

Our House Grief Support Center Hosts 9th Annual Run For Hope, April 29 F13 12:51PM

Don’t let this LA County Probation Department overhaul proposal sit on the shelf F13 11:04AM

Echo Park Residents Sue LA Over Controversial Development F12 8:51AM

Former Signal Hill police officer pleads guilty in road-rage incident in Irvine F09 10:25PM

Calif. Police Accused of 'Collusion' With Neo-Nazis After Release of Court Documents F09 7:14PM

Center for the Study of Political Graphics exhibit on Police Abuse posters F07 9:50AM

City Agrees to Settle Lawsuit Claiming Pasadena Police Officer Had His Sister Falsely Arre F04 3:17PM

Professor's Study Highlights Health Risks of Urban Oil Drilling F04 12:42PM

Claims paid involving Pasadena Police Department 2014 to present F04 10:52AM

Pasadenans - get your license plate reader records from police F03 11:11PM

LA Times Homicide Report F03 1:57PM

More Local News...

Other/Breaking News

Doxa du lobby A25 2:03AM

Tech workers organize A24 6:24PM

Architect Stephen Francis Jones A24 3:01PM

UN Forum Wrestles with Economic Policies 10 Years After Financial Crisis Islands Call for A24 12:34PM

Xyloglossie attitudinale A23 8:07AM

Shadowgun Legends Hack and Cheats A23 7:24AM

What does the Quran Say About Islamic Dress?? A21 4:15PM

Biodiversité ou la nature privatisée A20 11:22AM

The Market is a Universal Totalitarian Religion A20 7:14AM

Book Available about Hispanics and US Civil War by National Park Service A19 5:52PM

The Shortwave Report 04/20/18 Listen Globally! A19 4:01PM

The Republican 'Prolife' Party Is the Party of War, Execution, and Bear Cub Murder A19 11:48AM

Neurogenèse involutive A18 9:21AM

Paraphysique de la dictature étatique A16 10:13AM

Book Review: "The New Bonapartists" A16 3:45AM

The West Must Take the First Steps to Russia A14 12:25PM

Théorie générale de la révolution ou hommage à feu Mikhaïl Bakounine A14 3:30AM

The Shortwave Report 04/13/18 Listen Globally! A12 3:50PM

“Lost in a Dream” Singing Competition Winner to Be Chosen on April 15 for ,000 Prize! A12 3:48PM

The World Dependent on Central Banks A12 4:43AM

Ohio Governor Race: Dennis Kucinich & Richard Cordray Run Against Mike DeWine A11 9:40PM

March 2018 Honduras Coup Again Update A10 10:52PM

Apologie du zadisme insurrectionnel A10 3:33PM

ICE contract with license plate reader company A10 1:14PM

Palimpseste sisyphéen A09 11:23PM

Black Portraiture(S) IV: The Color of Silence...Cuba No...Cambridge Yes A09 5:32AM

Prohibiting Micro-Second Betting on the Exchanges A09 4:18AM

Prosecutors treat Muslims harsher than non-Muslims for the same crimes A08 10:33PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy