Meet the Economic Elite

Thanks to William Shepherd:

In David DeGraw’s study of the true state of the USA entitled The Economic Elite vs. The People of the United States of America, he argues that the American middle class is being eliminated by a rapacious economic elite, who make up just one percent of the population and represent nobody but themselves. The process did not begin with sub-prime mortgages and the credit crunch but has been accelerated by both…and by Obama’s coerced responses to them, which have benefited Wall Street at the expense of Main Street.

David DeGraw lays out a thoroughly researched case…including truly shocking statistics on the state of the richest nation on the planet…and suggests a way to connect the dots and explain what is going on.

An 18-page 14000 word article by David DeGraw…see attached Word version…has  been posted on the cesc website at http://cesc.net/adobeweb/dispatches/economicelite.pdf. The cesc version can also be accessed via the William Shepherd bookmarks at: http://delicious.com/williamshepherd/dispatches .

David DeGraw’s manuscript is available in book format from Lulu…watch their demo at http://www.lulu.com…one of the best of the new print-on-demand publishers selling their book-making services over the internet alongside the e-book readers Amazon (Kindle), Apple (iPad)…and in competition with them. The book remains the most efficient reading and storage devices ever invented…see attached Danish comedy sketch with English subtitles.

Below in the body of this e-memo is an extract from David DeGraw’s article explaining the failure of President Obama’s healthcare plans.

William Shepherd

PS. David DeGraw’s Section VI How to Fight Back has lots of nice things in it..but then writing to your MP seldom does any harm and makes you feel you are doing something. So the suggestions for action are hopelessly inadequate…quite apart from presupposing that the bad guys are going to roll over…hardly their style.

Part III: Meet the Economic Elite

I don’t view the Economic Elite as a small group of men who meet in secrecy to control the world. They do feature elements of conspiracy and are clearly composed of secretive organizations like the Bilderberg Group – this is not a conspiracy theory, this is a conspiracy fact – but as a whole the Economic Elite are primarily united by ideology. They’re made up of thousands of individuals who subscribe to an ideology of exploitation and the belief that wealth and resources need to be concentrated into the fewest hands possible (theirs), at the expense of the many.
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In total, the Economic Elite are made up of about 0.5% of the US population. At the center of this group is the Business Roundtable, an organization representing Fortune 500 CEOs that is also interlocked with several lead elite organizations. Most Americans have never heard of the Business Roundtable. However, in my analysis, it is the most influential and powerful Economic Elite organization.

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The Roundtable’s first year of operation was 1972, which coincided with the beginning of the CEO salary explosion, and has been the driving force behind the unprecedented concentration of wealth since their inception. Their dominance over the US economy and government is unparalleled. Their members are a Who’s Who of everything that is wrong with our economy.

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The Business Roundtable is the most powerful activist organization in the United States. Their leaders regularly lobby members of Congress behind closed doors and often meet privately with the President and his administration. Any legislation that affects Roundtable members has almost zero possibility of passing without their support.

For three major examples, look at healthcare and financial reform, along with the military budget. The healthcare reform bill devolved into what amounts to an insurance industry bailout and was drastically altered by Roundtable lobbyists representing interests like WellPoint, Aetna, Cigna, Pfizer, Eli Lilly and Johnson & Johnson. Obama and Congress are trying to please the Roundtable with a bill that supports their interests. This led to the dropping of the public-option put forth in the House bill. However, when it came to finishing the bill, Roundtable members began to walk away from the process. That’s the real reason why the reform bill has stalled. Obama met with the Roundtable on February 24th, in hopes of getting healthcare reform back on track. After that meeting, he held a bipartisan healthcare meeting with members of Congress.

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Despite all the healthcare reform talk, the bill still being discussed will do little to reduce costs and extend coverage to those who urgently need it, as insurance rates continue to rise. The number of Americans without health insurance continues to skyrocket to now well over 50 million, with 45,000 preventable US citizen deaths occurring per year. Due to economic hardship, the number of people suffering from psychological depression has hit an all-time high, as suicide rates keep rising.

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The Roundtable tells politicians what they want done, and the politicians do it. At times, Roundtable members even write the laws themselves. On financial reform alone, those representing Wall Street firms gave “$42 million to lawmakers, mostly to members of the House and Senate banking committees and House and Senate leaders.” During the 2008 election cycle, they gave $155 million: $88 million to Democrats and $67 million to Republicans. Keep in mind, this is the spending on just their financial reform initiative. When it came to health reform, they gave even more.

When it comes to getting elected, over 90% of the time the candidate who simply spends more money on their campaign wins the election. The Roundtable and politicians recognize this fact, so the overwhelming majority of current elected officials relied heavily on campaign funding from Roundtable members, including President Obama.

Shortly after Obama’s inauguration he held a meeting with Roundtable members at the St. Regis Hotel. The president of the Business Roundtable is John J. Castellani. Throughout the first nine months of Obama’s presidency, Castellani met with him at the White House more than any other person, with the exception of Chamber of Commerce CEO Tom Donohue. If you look at the records of people who have spent the most time with Obama in the White House, other than these two, another frequent visitor is Edward Yingling, the president of the American Bankers Association.

These organizations – the Business Roundtable, Chamber of Commerce and the American Bankers Association – along with the Federal Reserve, a secretive quasi-government private institution, form the center of the Economic Elite’s power structure. Since the bailout, the Federal Reserve has been working closely with private firm BlackRock. Due to this relationship, BlackRock has emerged as the world’s largest money manager and now manages more assets than the Federal Reserve. They also “manage many of the Treasury Department’s big investments.”

On a global level, you have economic institutions like the World Trade Organization (WTO), the International Monetary Fund (IMF) and the World Bank, and international treaties like NAFTA. These organizations already form a de facto world government that has rights beyond our constitutional rights and national sovereignty. If the WTO makes a ruling that goes against US law, the WTO ruling supersedes US law and wins out.

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In addition to dominating our political and economic system, the Economic Elite have already created their own private military. Their private military is now more powerful than the US military. As mentioned earlier, private mercenaries now outnumber US soldiers and receive the lion’s share of military spending.

Corporations like SAIC, Blackwater, Bechtel, Raytheon and Halliburton are composed of the most elite worldwide intelligence and military officers. These are the highly profitable and powerful entities that the Economic Elite turn to when national militaries and intelligence agencies – like the CIA, FBI or other government run entities – can’t get the job done.

For instance, SAIC, a “stealth company” that most people have never heard of, is considered to be the brains of the entire US intelligence apparatus, more powerful than the much more popularly known CIA, NSA and FBI – all agencies that SAIC is deeply intertwined with. I urge you to research SAIC to get a crash course in how the true power structure functions. You can start by reading an excellent investigative report by Donald L. Barlett and James B. Steele titled, “Washington’s $8 billion shadow.”

The Economic Elite dominate US intelligence and military operations. Other than the obvious geo-strategic reasons, the never-ending and ever-expanding War on Terror’s objective is to drain the US population of more resources and further rob US taxpayers, while using our tax money to create a private military that is more powerful than the US military.

I think any logical person can see the ominous implications of having such a vast and powerful private military and intelligence complex, created for and used, in secrecy, by the Economic Elite. Outside of the blatant economic policy attacks, heavily armed and sophisticated covert powers led by small groups of Economic Elite are now a serious risk and present danger.

In conclusion, these economic and government policy forming organizations, along with their private military and intelligence corporations, form the core of the Economic Elite power structure.

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