That is the statement of Henry Blodget;
what a great name, what a revealing headline.
Here is his first chart on Corporate
profits
Next his chart on Americans working
Finally, his chart on wages as a percent of
economy
As he states it, “In short, our current
system and philosophy is creating a country with a few million overlords and 300+
million serfs.
These are the issues of the election.
These are the issues of the election.
Measured by corporate profits, the current business performance is the envy of any age before it.
ReplyDeleteThe current economy is a supply-sider's dream. More profit than ever, more concentrated wealth than ever. We're living in a conservative economic paradise.
Yet it isn't working. It hasn't translated into jobs. Capitalism seems to be broken. The wealth isn't trickling down.
The problem is the movement of money. Once wealth gets concentrated past a certain point, it stops moving. The ratio of capital to labor has simply gotten too high for productive economic growth to take hold properly.
If it looks like, walks like..it must be-
ReplyDelete"Neofeudalism (literally new feudalism – the terms are used interchangeably in the literature) refers to a theorized contemporary rebirth of policies of governance, economy and public life reminiscent of those present in many feudal societies. It is related to some of the ideas of neo-medievalism." [from Wikipedia definition]