Xi Jinping’s economy beats Obama’s economy in helping the middle class

Politicians always like to use words like ‘middle class’ and ‘helping working families’ to win elections, and try to deceive voters on what their true agendas really are.  And while U.S. President Barack Obama has tried to take credit for how he saved the economy and brought America back from the brink of the 2008 credit crisis, the fact of the matter is he has destroyed the middle class, and has dropped prosperity levels for tens of millions of Americans down to levels not seen in 50 years.

But in an ironic turn of the coin, one formerly pure Communist country has done just the opposite, and on Oct. 14 a new report from Credit Suisse shows that the Far Eastern powerhouse now has more of their people moving into the Middle Class than the U.S. does.

The US middle class, long considered a measure of prosperity, has for the first time been overtaken by China. A hundred and nine million people now make up China’s middle class compared to 92 million in the US, says the 2015 Credit Suisse Global Wealth Report.

While the middle class grew at a slower pace than wealth at the top end, the report forecasts Asia will see the greatest expansion.

“The middle class will continue to expand in emerging economies overall, with a lion’s share of that growth to occur in Asia,”said Credit Suisse CEO Tidjane Thiam in the report.

“As a result, we will see changing consumption patterns as well as societal changes as, historically, the middle class has acted as an agent of stability and prosperity,” he added. – Russia Today

Many factors of course need to be taken into consideration, such as the fact that China has over three times the population of the United States, but the most important indicator here is that workers in China are progressing upward due to a higher increase in wages, productivity, and living standards while those in the U.S. have declined as a result of Obama’s ‘bartender’ low wage recovery, and decreases in home ownership to levels not seen since the 1960’s.

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Sadly, U.S. multi-national corporations are now basing more and more of their growth on sales to consumers in China, and less on sales to people in the United States since massive debt and slowdowns in consumer spending are signalling the decline in middle class discretionary spending.  And with nearly three million good paying jobs lost under the Obama administration only to be replaced by low wage service industry ones, the distance between the growing middle class in China and the shrinking middle class in America will only get wider in the coming years.

Kenneth Schortgen Jr is a writer for Secretsofthefed.comExaminer.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

HERE IS A LIST OF EVERY SINGLE TIME OBAMA COMMITTED AN IMPEACHABLE OFFENSE THAT DEMS & MEDIA COVERED UP “Impeach!” It’s been more than eight years since Democrats uttered that word – long enough for anyone to wonder if it was still in their vocabulary, considering the deafening silence through the dozens of serious scandals during President Obama’s administration – but now that President Trump is the man in the White House, it’s back with a vengeance. . . Democrats everywhere are wildly slinging the “I” word, hoping to nail Trump for high crimes and misdemeanors after the New York Times claimed a memo written by former FBI Director James Comey said the president urged him to end the federal investigation into former national security adviser Michael Flynn. . . Some members of Congress are getting in on the action. They include Reps. Maxine Water, D-Calif., and Al Green, D-Texas. Even a Republican, Rep. Justin Amash, claimed Wednesday there are grounds to impeach President Trump. House Oversign Committee Chair Rep. Jason Chaffetz, R-Utah, asked for the alleged Comey memo and other documents. Chaffetz tweeted that he is prepared to subpoena the information. And Sen. John McCain, R-Ariz., invoked “Watergate.” . . Now the Democratic Party is reportedly poll testing impeachment as a 2018 election issue. More than 1 million people signed a petition calling on Congress to impeach Trump. . . Wasting no time Wednesday, the mainstream media sprang into action, enthusiastically echoing the left’s impeachment calls. MSNBC launched a Watergate ad implying Trump is America’s new Richard Nixon. . . “Watergate. We know its name because there were reporters who never stopped asking questions,” says MSNBC host Chris Hayes, who hinted that Trump is next on the impeachment chopping block. “Now, who knows where the questions will take us. But I know this: I’m not going to stop asking them.” . . Meanwhile, some overzealous members of the left plastered fliers around Washington, D.C., demanding all White House staffers resign Wednesday. . . The posters read: “If you work for this White House you are complicit in hate-mongering, lies, corrupt taking of Americans’ tax money via self-dealing and emoluments, and quite possibly federal crimes and treason. Also, any wars will be on your soul. … Resign now.” . . But constitutional scholar Jonathan Turley, who voted for President Obama, warned “impeachment” enthusiasts not to get ahead of themselves with President Trump. Why? . . At this time, there’s no evidence Trump actually committed a crime. . . “The criminal code demands more than what Comey reportedly describes in his memo,” Turley wrote in a May 17 opinion piece posted at the Hill. Turley explained: . . For the first time, the Comey memo pushes the litany of controversies surrounding Trump into the scope of the United States criminal code. . . However, if this is food for obstruction of justice, it is still an awfully thin soup. Some commentators seem to be alleging criminal conduct in office or calling for impeachment before Trump completed the words of his inaugural oath of office. Not surprising, within minutes of the New York Times report, the response was a chorus of breathless “gotcha” announcements. But this memo is neither the Pentagon Papers nor the Watergate tapes. Indeed, it raises as many questions for Comey as it does Trump in terms of the alleged underlying conduct. . . A good place to start would be with the federal law, specifically 18 U.S.C. 1503. The criminal code demands more than what Comey reportedly describes in his memo. There are dozens of different variations of obstruction charges ranging from threatening witnesses to influencing jurors. None would fit this case. That leaves the omnibus provision on attempts to interfere with the “due administration of justice.” . . However, that still leaves the need to show that the effort was to influence “corruptly” when Trump could say that he did little but express concern for a longtime associate. The term “corruptly” is actually defined differently under the various obstruction provisions, but it often involves a showing that someone acted “with the intent to secure an unlawful benefit for oneself or another.” Encouraging leniency or advocating for an associate is improper but not necessarily seeking an unlawful benefit for him. . . -Obama’s Iran nuke deal -Obama knew about Hillary’s private email server -Obama IRS targets conservatives -Obama’s DOJ spies on AP reporters -Obamacare & Obama’s false promises -Illegal-alien amnesty by executive order -Benghazi-gate -Operation Fast & Furious -5 Taliban leaders for Bergdahl -Extortion 17 -‘Recess ‘ appointments – when Senate was in session -Appointment of ‘czars’ without Senate approval -Suing Arizona for enforcing federal law -Refusal to defend Defense of Marriage Act -Illegally conducting war against Libya -NSA: Spying on Americans -Muslim Brotherhood ties -Miriam Carey -Birth certificate -Executive orders -Solyndra and the lost $535 million -Egypt -Cap & Trade: When in doubt, bypass Congress -Refusal to prosecute New Black Panthers -Obama’s U.S. citizen ‘hit list’