Obama and the Fed plan direct intervention in economy despite disapproval by most Americans
January 27, 2014
The results of a Rasmussen Reports poll released today reveals that most Americans think government involvement in the economy increases income inequality.Obama’s income inequality speech.
When “asked which would do more to close the income gap in America, 59% choose less government involvement in the economy over more government action. Thirty-three percent (33%) think increased government involvement in the economy would do more to close the income gap,” the Rasmussen Reports survey claims.
“A plurality (48%) says society overall would be less fair if the government got more involved in regulating the economy. Twenty-nine percent (29%) think increased government involvement would ensure that society is more fair. Fifteen percent (15%) see no impact from more government involvement in the economy?… More voters than ever (66%) now think the U.S. economy is unfair to the middle class.”
Obama’s annual State of Union address tomorrow is expected to dwell on income inequality, unemployment and Obamacare. In December, Obama said during a speech hosted by the Center for American Progress that income inequality is the “defining challenge of our time.”
He is expected to implement wealth redistribution schemes by way of executive action if Congress does not act, according to Fox News.
“Obama speaks up for the little guy and then turns right around and acts on behalf of the big guys, the elite, the establishment, and big business. He surrounds himself with their people. He gets their advice. He has no firm understanding of his own to parry them. The big money that is the political lifeblood of his party flows from these same interests. Obama has engineered no way of dealing from strength against these privileged interests,” Michael S. Rozeff writes.
During her confirmation hearings, Janet Yellen, a standard-bearer for the privileged interests Rozeff mentions, said income inequality is a serious issue worthy of government intervention despite widespread disapproval by the American people. “The solutions involve a multitude of things, including education, maybe early childhood education, job training, other things,” she said back in November. In other words, more government programs and more debt dragging down the economy.
Yellen said Congress, specifically the tea party influenced faction looking to reduce deficits and an astronomical federal debt through sequestration, is “making it harder for the fed to get the economy moving, making our task more difficult.”
The Federal Reserve is the main income inequality culprit. Its bubble economy policies spurred on by the profligate printing of money and near zero interest rates act like a sledge hammer destroying the economy and widening the chasm between a quickly eroding middle class, a growing underclass and the mega-wealthy elite in control of not only the Federal Reserve but much of Congress and the executive.
“Sadly, most Americans don’t even realize that the Federal Reserve has more control over our economy than anyone else does,” writes Michael Snyder.
The Rasmussen poll shows that while many Americans do not understand that the Federal Reserve is the engine behind the destruction of the U.S. economy, they do understand that government and reckless government spending make income equality worse.World Bank at Davos: Income inequality addressed through more spending and “financial services,” i.e., debt.