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Hillary Clinton's "Let Them Eat Cake" Moment

Front-Runner Undone by Economic Cheerleading

by VJ Epstein - Dec-1-2016
in Market Supremacy News

Hillary Clinton's exaggerated claims about the health of the U.S. labor market and economy, and tone deaf lauding of a jobless recovery benefiting only the rich, are the primary reasons she and her fellow Democrats lost a presidential election they should have run away with last month.

The wealthy candidate might as well have said "let them eat cake," when she claimed all was well at a time of widespread economic distress, suicide and joblessness. Thereby demonstrating she was just as out of touch with reality as former French Queen Marie Antoinette, who allegedly coined the phrase in 1789 upon being told her subjects were starving.

The French chopped off their clueless queen's lovely strawberry blonde head a few years later, ending her political career with much the same finality American voters just visited upon Hillary. The execution of French King Louis XVI and his wife triggered a chaotic period which culminated in Napoleon Bonaparte's rise to absolute power.

Hillary's unlikely loss to Donald Trump - arguably the worst presidential candidate in U.S. history - should be a wake-up call for a political establishment which has become increasingly insulated from the people they're supposed to represent. Its privileged members now inhabit a cloistered world of plenty as removed from reality as the royal courts of Europe in the run-up to World War I.

The U.S. Congress has become a veritable House of Lords in recent years, thanks largely to its exemption from insider trading laws. The exemption represents a veritable license to print money and accept bribes in the form of stock tips from corporate insiders.

Author Peter Schweizer, a conservative researcher who has been critical of both political parties it as a "a venture opportunity."

"This is an opportunity to leverage your position in public service and use that position to enrich yourself, your friends, and your family," said Schweizer, author of "Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison."

The exemption has elevated Congress' median net worth to more than $1 million in a nation where less than 3 percent of the general population enjoys the same rarefied financial status. The median adult wealth in the U.S. was just $49,787 in 2015, per the Credit Suisse Global Wealth report.

It is quite literally the best of times for federal lawmakers and their friends in the 1 Percent, and the worst of times for everyone else.

Federal lawmakers enjoy free healthcare and generous pensions - unlike the general populace . They've insulated themselves from the suffering they've created behind the walls of wealthy country clubs and gated communities. Sending their children to exclusive private schools instead of the public schools they oversee, while routinely concealing their true wealth by placing assets in their spouses' names.

This privileged existence has blinded federal lawmakers to worsenincredentialsg rates of U.S. joblessness and suicide, which now reflect those of The Great Depression. The labor force participation rate - the percentage of Americans with jobs or actively seeking them - has fallen to its lowest level since 1978. The percentage of Americans committing suicide is the highest since 1986. Many more are drinking and drugging themselves into oblivion, rather than facing a degrading workplace of diminished opportunities for all but the most shameless lackeys.

Hillary seemed blissfully unaware of those disastrous metrics when she lauded President Barack Obama's economic stewardship, as presidential candidates are wont to do when their party already controls the White House. However, she could not have found a better way to alienate the faltering middle class and the poor than by repeatedly citing a jobless recovery which has completely missed so many of them.


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