- Working class Republicans have unfortunately been the
greatest victims of Bushonomics.
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- They have, on a percentage basis, seen the greatest numbers
of their jobs exported under the Bushonian US Jobs Export Program. They
have seen their real wages (net income minus inflation and taxation) lag
behind the most of any group.
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- Proportionately they have suffered the highest number
of foreclosures on their homes. They have also suffered the highest number
of repossessions on their loans for autos, motorcycles, boats, RVs, etc.
On a prorated basis, they have also suffered the highest delinquency and
default rates in credit cards and home financed lines of credits.
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- Also the investments, traditionally held by working class
Republicans like municipal bond funds, have lost as much as 50% of their
value in the last six months. One in seven of all municipal bond funds
have become illiquid and worthless. About 50 % of high yield funds, which
are commonly held by many working class Republicans, have also failed.
And, domestic common stock mutual funds, another mainstay of working class
Republicans, have performed just as miserably.
-
- Working class Republicans have also been the greatest
victims through the loss of their pension plans and health insurance.
-
- It can not be emphasized enough that Bushonomics, as
defined by George Bush, Sr., is "the continuous consolidation of wealth
and power into ever higher, tighter and righter hands."
-
- In other words, Bushonomics is a continuous trickle-up
of wealth -- and working class Republicans have done more than their fair
share in making Bushonomics work.
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- It is not difficult to find fault with working class
Republicans because of their stupidity.
-
- The idea of voting for Republicans is so deeply ingrained
within their heads because they still haven't realized how fractured the
Republican Party has become and that there are wings in the Republican
Party. This is something that most working class Republicans are unaware
of and so they will just vote Republican because it says Republican.
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- These wings include the Bushonian Faction and the Anti-Bush
Fiscally Conservative Republican Faction, like Senators Grassley and Snow.
There hasnâ't been a peep out of them for eight years because they
don't represent any real power any more. They consistently get steamrolled
by a well organized Bushonian Machine, including Pro Bush Faction Republicans,
who are senior members of the Senate, like Orrin Hatch, John Warner and
John McCain, who will raise the specter of "the flag" and claim
that anyone who does not support Bushonian policies is "disloyal"
or "anti-American." This still sells within the ranks of working
class Republicans who don't know the difference.
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- Working class Republicans continue to vote Republican
even though traditionally they have done better financially under Democratic
Regimes.
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- For the rest of this exclusive column by independent
political, economic and market analyst Al Martin, log on -- and subscribe
to -- http://www.almartinraw.com
- Al Martin Raw.com (Political, Economic and Financial
Intelligence)
-
- * AL MARTIN is an independent economic-political analyst
with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC. As
a former contributor to the Presidential Council of Economic Advisors,
Al Martin is considered to be a source of independent analysis for financially
sophisticated and market savvy investors.
-
- After working as a broker on Wall Street, Al Martin was
involved in the so-called "Iran Contra" Affair as a fundraiser
for the Bush Cabal from the covert side of government aka the US Shadow
Government.
-
- His memoir, "The Conspirators: Secrets of an Iran
Contra Insider," (http://www.almartinraw.com) provides an unprecedented
look at the frauds of the Bush Cabal during the Iran Contra era. His weekly
column, "Behind the Scenes in the Beltway," is published on Al
Martin Raw.com
-
- Al Martin's website "Insider Intelligence"
http://www.insiderintelligence.com provides a long term macro-view of world
markets and how they are affected by backroom realpolitik, as well as weekly
market trading recommendations.
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