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Trump’s Gifts to Wall Street and the Pentagon: New US President Intensifies War Drive and the Supremacy of Finance Capital

http://bit.ly/2jYOhzJ

http://www.globalresearch.ca/

http://panafricannews.blogspot.com/

By Abayomi Azikiwe

Since the Great Recession of 2007-2010, cited as the worst capitalist economic downturn since the Depression in the 1930s, the United States financial system has been “stabilized” by the massive intervention of the Government and the Federal Reserve Bank. Estimates of at least $10 trillion in bailouts to the leading banks since 2008 have ensured the maintenance of the world capitalist system.

In addition to the massive subsidies to the banks, two of the leading U.S. automotive firms, Chrysler and General Motors, were also given hundreds of millions of dollars from the tax revenues of working people to guarantee their existence despite decades of large-scale downsizing and restructuring extending back to the 1970s.

When former President Barack Obama took office in January 2009, he was given a mandate along with the majority Democratic House of Representatives and Senate, to institute sweeping reforms of the financial system; create substantive employment and business opportunities for the African American community and workers in general; as well as ending the imperialist wars raging in Iraq, Afghanistan and Haiti. Nonetheless, after two consecutive terms, U.S. militarism was expanded into broader areas of Africa, Latin America, the Middle East and the Asia-Pacific.

Although it is reported at the beginning of every month that the unemployment rate is hovering around 5 percent, the labor participation rate, which is a more accurate measure of gauging the actual strength of the economy in relationship to the situation of working people, remains at approximately 62 percent, leaving over one-third of the eligible labor force outside the formal market. Millions of people in the U.S. have fallen deeper into poverty and deprivation over the last decade through monumental and unprecedented home foreclosures and evictions, job losses, utility shut-offs and mass incarceration…

With a burgeoning movement in opposition to the Trump administration it must be clear to all of those involved that there can be no trade-off between prosperity in the U.S. and aggressive military campaigns in other parts of the world. The demands which will inevitably triumph are those calling for peace and justice in the U.S. in conjunction with an end to imperialism worldwide. http://bit.ly/2jYOhzJ