by Scott Creighton
In a brief press conference in Hangzhou, China this morning at the site of the G20 Summit, President Obama gave a short press conference in which he claimed “things have gotten better” since Jan. 2009 when he took office mainly because of globalization and “free trade” agreements. Ironically, at the end of the Q&A session, he did admit to the “trends of inequality that have risen out of globalization” as he pushed for more globalization across the Asian Pacific.
In what is probably the most important bit of insight one can take from this press conference, President Obama talked about the TPP and it’s major founding principles, pushing Asian leaders to “engage in structural reforms” across the board in their countries as a requirement of participation in the TPP.
These “structural reforms” are the crushing austerity measures that are demanded by the IMF and World Bank when they give out loans to various nations in order to salvage their economies, undoubtedly damaged by the same international financial institutions who will benefit from both the loans as well as the “structural reforms” that follow.
At one point this morning Obama gave some proof as to how the U.S. economy was “better off” than it was back in 2009 by saying the banks have more capital in their stockpiles. See that? The banksters have more money now, so things MUST be better for everyone… right?
Obama acknowledged the fact that these “trade” agreements are extremely unpopular with the American public right now and said he would have to wait until after the election to make any ground on them. As some of us feared, he will use the lame duck session of congress to try to pass them as he heads out the door.
Obama also said these agreements, which force crushing IMF “structural reforms” on the people of every nation that signs on to the agreement, will be better than what he called the “status quo” as it stands right now and he challenged anyone to prove to him that they wont be good for the economy.
On a similar note, one bit of news that is getting almost no coverage is the situation taking place in Puerto Rico these days. Obama used the economic crisis that took place a couple months ago in order to install a group of neoliberal technocrats (3 Dems and 4 Republicans) who are busy imposing neoliberal “structural reforms” on the people of Puerto Rico. Understandably the people of Puerto Rico are protesting this move.
President Obama has appointed seven members to a federal control board that will run the finances of Puerto Rico’s nearly bankrupt government for at least the next five years and restructure nearly $70 billion in debt. The board is made up of three Democrats and four Republicans who will not only approve any budgets created by the island’s politicians, but also attempt to negotiate with the island’s nearly 20 creditors. On Wednesday, hundreds of protesters in Puerto Rico blocked a street in front of a hotel where bankers and business executives were gathering for a conference hosted by the Puerto Rico Chamber of Commerce. Meanwhile, a new report from the ReFund America Project has revealed firms like UBS, Citigroup, Goldman Sachs and Barclays Capital have collected $1.6 billion in underwriting fees from Puerto Rico since 2000 just for refinancing bonds to pay interest and fees on older bonds.
It’s understandable that President “CHANGE”, President “Peace Prize” is now ready to let his inner neoliberal show. To be honest, he started off exposing himself from even before he was sworn in back in Jan. of 2009 and he’s continued to show his true colors ever since, little by little. But he’s out of office soon enough and his legacy is saved by neoliberal Hillary’s ascension to the throne and he has to make sure all the masters of the universe are pleased with his service and results as he makes himself ready for the formation of the inevitable Obama Global(ist) Initiative globalist slush fund.
To Obama, it doesn’t matter that the people of Puerto Rico do not want an Obama-appointed band of technocrats running their country for the next 5 to 10 years just like it doesn’t matter to him that the people of the Asian Pacific want no part of the globalist “free trade” agreement, the TPP or that his own citizens don’t want it either.
All Obama cares about at this point is playing golf with billionaires and making himself and his family ready for their post-presidency life of extreme wealth and access.
If you think it’s ironic that he chose Labor Day to give his little press conference, think again. It’s a joke to him and the masters of the universe. Sticking a thumb in the eye of his constituency while he still enjoys an unbelievable 50% approval rating from the public.
He is what he always was, an opportunist posing as a “progressive” element of CHANGE. I never voted for him and I’m glad I never did. Today we see a glimpse into what some black activists once described as a man “with no moral center” and that is what is required when you sign up for neoliberal “centrist” ideology. I wrote that about the man eight years ago and he has never once done anything to prove me wrong since.
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