Study: Middle Class Screwed, Upper Class Fine

[LongTomH]

Run time: 02:38 https://www.youtube.com/watch?v=9twENPYkdcI   Posted on YouTube: February 11, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: February 12, 2010 By DU Member: LongTomH Views on DU: 791

 
"The unemployment rate among the lowest income levels is 30% - worse than the Great Depression."

Just one more confirmation of what most of us had already figured out - we're screwed!

[OHdem10]

1. This is the way our economy is rigged. Both Parties have participaed.

The Elites and/or Investors crack the whip telling Wall Street,
Make us More Money. The Businesses have only one Primary
Obligation and that is to their Investors. Therefore, Business
hops into gear doing whatever is necessary to make Profits.
Sometimes this means taking shortcuts and producing inferior
products. (I said sometimes). Labor Costs are the most expensive
part of Business Budget. Therefore to earn profits for Investors
and Elites, Business go searching the world over for places
to produce their products most cheaply. Add to this this
reporting progress every quarter to Wall Street. Added
pressure to bring in good earnings and profit reports.
This can lead to layoffs. No Company wants to end up with
a bad rating on Wall Street. This can have long term damage
on their company. Good Rating-Everyone happy --The Elites
and/or Investors makes lots of money. As you see the Working
Class is at the Mercy of the Elites and/or Investors. This
practice was established in the Reagan Administration and
you can bet there Democrats supporting it. This was the beginning
of turning the Power over to Business in this country.

[ejbr]

2. k & r n/t

[ihavenobias]

3. Here's a link to the stats the video discusses.

http://curiouscapitalist.blogs.time.com/2010/02/10/rich-people-still-have-jobs-poor-people-dont/

[OhioChick]

4. Wish I could Rec this 1,000 times!

K&R

[Mithreal]

5. Lower and middle classes are just a bunch of whiners.