The Marc Chamot Report

The Squeeze is on; President Barack Obama Under Heavy Pressure to Fix the Economy & Even Billionaires are Going Broke:
By Marc Chamot

Newspaper editorials are getting a little rough on Barack Obama these days. Even Democrats have begun to put the squeeze on President Obama to do something with our faltering economy. There are jokes abound, and not only on Treasury Secretary Timothy Geithner, but on President Barack Obama. They are both totally clueless in finding a way to resolve the economic crisis. Comedians have come out with 1-800-IDEAS jokes, but really folks?

Don’t blame bumbling Geithner either; blame the “El Supremo,” who is our President of the United States.

Barack Obama had said that he would fix the economical problem, better than his former running opponent John McCain, and not only that, we have also discovered that the bailout didn’t do iota to help revive the economy. And now, President Barack Obama wants to venture into reforming health care? He hasn’t reformed or fixed the economy, so now he wants to fix healthcare.

However, whatever the facts are, it’s an absolute truth that President Barack Obama has no idea, or has the solution to solve our current economic crisis. Read my reasons as to why, which I posted before the election, A Bill Clinton Tragic Legacy NAFTA & WTO: Then Why are Presidential Candidates Barack Obama and John McCain so Oblivious in Solving Our Economic Ills?

“Did President George Bush really ruin our economy? It may seem that way, but he was only the benefactor, recipient, and abuser of that failed 1994/1995 Bill Clinton, and the Republicans under Newt Gingrich’s, NAFTA and WTO trade deals that they created. Can anyone stop this monster that’s eating away our jobs, wages, industry, wealth, and killing our economy? Yes they can, but the system will not allow them. Better yet, our politicians are in hock, or sold out hacks to foreign interests mainly China.Barack Obama’s message in helping solve our economic ills isn’t resonating with most people. He talks about it, but gives no solutions. John McCain talks about it also, but has no solutions for it either.

In truth, they both do have solutions, and they know what to do about it but have no backbone and are gutless to take on the system that created these disaster years ago, under former president Bill Clinton and the Republicans of 1994.

We’re importing more foreign workers, more than ever through H-1B and H-2B Visas. We’re selling out our nation, predominantly sacrificing American workers in favor of foreigners.While American jobs are scarce we’re still importing foreign workers in droves through H-1b and H-2B visas to pay these foreign imports less money than they would Americans. We’re not just talking about illegal aliens here; we’re talking about legalized foreigners coming here to work at our expense.

The World Trade Organization deals with the rules of trade between nations at a near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries’ adherence to all the WTO agreements, signed by the majority of the world’s trading nations and ratified in their parliaments.[4][5] Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round. The organization is currently working with its members on a new trade negotiation called the Doha Development Agenda (Doha round), launched in 2001.[4][3]

From source: When it comes to illegal immigrants in the United States, many people believe that Hispanics are growing the fastest percentage-wise. In terms of actual numbers Hispanic illegal immigrants do outnumber other illegal immigrants. The estimated number of illegal immigrants in the United States is about 12 million. Mexicans make up nearly 7 million and the next largest groups are Salvadorans and Guatemalans all of which are considered Hispanic. Hispanics illegal immigrants receive media coverage often when raids occur throughout the nation or a border death occurs.

In addition, Hispanic illegal immigrants are usually made the focus of immigration debates.Many take minimum wage jobs and sometimes even work two jobs.

While there is no denying that Hispanics come to the United States in large numbers they do not hold the title of the fastest growing in terms of percentages. Since the year 2000 people from India make up the group with the largest percentage increase in illegal immigration. In 2000 there was about 120,000 illegal immigrant Indians. That number grew to about 270,000 in 2006 that represents an increase of 125%.Those Visas brokering deals were made since the creation of the WTO (World Trade Organizations). By former President Bill Clinton and the Republican controlled congress of 1994, is largely to blame for this monster.

It was all created for American corporate, globalization, greed, and American wealth distribution to other nations at the expense of Americans in massive jobs and industries loses. Subsequently these WTO and NAFTA deals brought down import tariffs from foreign products being imported into the United States. It made their products cheaper and American products higher.

Thereby killing American industries and jobs, forcing them abroad mainly to China. Meanwhile foreign industries from China and Mexico are flourishing and so are their economies, while ours have been on a steady decline. These Clinton/Republican trade deals have finally backfired big time for Americans especially under President George Bush and the past Republican controlled congress.We’re now paying for these 1994/1995 political blunders. And with the high cost of gas it’s becoming a knock out punch for most Americans. Barack Obama and most Democrats don’t seem to be on board with the offshore drilling.

To solve our economic ills, it will take reversing all of these draconian NAFTA and WTO BAD deals, and both presidential candidates have not the guts nor the desire to do it, and go against the 1994/1995 Bill Clinton and Republican system that created this mess.”

This is all a global agenda that cannot be reversed unless the president acts. It would take a lot of guts for Barack Obama to do it, it means redrawing our trade systems, and even immigration reforms to remove illegal aliens from this country. But instead, the president leans into subsidizing and using taxpayer bankrupted bailouts policies in a COWARD’S way out, when he should be taking assertive action that benefit Americans, but instead he wants to use our money to solve the problem.

Signs of confusions are all around, the ineptness way of the administration placing tax cheats in these financial governing positions. Then the administration is giving off signs of uncertainty about its own analysis of the crisis. Barack Obama now realizes that the $787 Billion bailout wasn’t enough to make a dent into economical recovery. He touted that his plan would create and save 4 million jobs, which was totally false. Instead we lost over 700,000 jobs last month.

Forbes: Billionaires Declining:
While our global economy has been hurting people, billionaires have also been damaged by our economical crisis. Billionaires have dropped by 30 percent world wide. It’s now 793 from the 1,125 last year. It’s the first time since 2003 that the lists of billionaires have fallen down sharply. The number of new billionaires fell to 38 from the 226 the previous year and there are 72 women on the list down from 99 the year previous. So the economy is basically killing everybody including billionaires ouch!

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