Why America’s Two Economies Continue to Drift Apart, and What Washington Isn’t Doing About It

[ProudDad]

"America’s two economies are getting wider apart.

"The Big Money economy is booming. According to a new Commerce Department report, third-quarter profits of American businesses rose at an annual record-breaking $1.659 trillion – besting even the boom year of 2006 (in nominal dollars). Profits have soared for seven consecutive quarters now, matching or beating their fastest pace in history.

"Executive pay is linked to profits, so top pay is soaring as well.

"Higher profits are also translating into the nice gains in the stock market, which is a boon to everyone with lots of financial assets.

"And Wall Street is back. Bonuses on the Street are expected to rise about 5 percent this year, according to a survey by compensation consultants Johnson Associates Inc.

"But nothing is trickling down to the Average Worker economy. Job growth is still anemic. At October’s rate of only 50,000 new private-sector jobs, unemployment won’t get down to pre-recession levels for twenty years. And almost half of October’s new jobs were in temporary help."

http://www.truth-out.org/why-americas-two-economies-continue-drift-apart-and-what-washington-isnt-doing-about-it65983


And the Appeaser-in-chief is in bed with the corporations...

Hey, when you've got a global pool of poor people to exploit, who the hell needs USAmerican workers?

[sad sally]

1. Did you hear Bernie Sanders on Friday say there were 4,000

garment factories in Bangladesh whose workers were recently given an eleven cent raise - from 11 cents and hour up to 23, and if Americans were just willing to take $1, or $2 or $3 dollars an hour, these factories would come back to the US?

[ProudDad]

2. No, I didn't hear that..

But if USAmericans were willing to become a nurturing society instead of a "consumer" society...

That returns to community values instead of commercial values...

That doesn't need a closet full of clothes when a reasonable set of sturdy, lasting clothing will do...

That doesn't need drawers and closets full of plastic crap that hits the landfill within 6 months...

In order to fill the hole in their soul created by the "consumer" society...

And economic justice and equality that provides a "living wage" for ALL...

We wouldn't be having this discussion...

[Hawkowl]

10. +1000 .nt.

[ProudDad]

3. Amazing lack of responses...

:shrug:

[mtnsnake]

4. Give it some time

The spinmeisters might be having trouble figuring out if this is a bad thing or a good thing, but once they figure out a way to spin these findings as a positive for the WH, I'm sure they'll show up soon enough.

[ProudDad]

5. Yep...

:hi: :rofl:

[mtnsnake]

6. You just might have a spin-proof thread

:hi:

[ProudDad]

7. Darn! (n/t)

[merbex]

8. Can't argue with the truth n/t

[johnlucas]

9. Truth is shocking

And because of that it can stun people into silence.
ProudDad, you're one of the best posters on Democratic Underground.
You see the situation clearly & are beyond this political party rah rah game.

I suggest others just save this thread to your favorites/bookmarks for future reference.
Message boards are a treasure. I've known this for years.
John Lucas