Living in the Banksters world
And by Banksters, I mean the owner/investor class. If you're still wondering why there's no political will to deal with the unemployment crisis, the explanation is simple enough. Two words. Corporate profits:
Profits at American companies are poised to be one of the few bright spots in the U.S., helping to steady the faltering recovery.And why don't the corporations care that the consumers in our consumer economy don't have any money if they don't create jobs? Pretty much the same answer. They're making mega-profits in foreign markets and low wages at home mean -- more profits.
Earnings will climb an average 10 percent a year through 2013, more than three times quicker than the economy, after what has already been the fastest rebound since the late 1940s, JPMorgan Chase & Co. projects.
“Employment growth will gradually get better, but the increase in wages for each worker will remain weak,” Mellman said. Unemployment exceeding 9 percent and a pool of almost 14 million Americans without a job give workers little leeway to ask for higher pay. That means the Fed will stick to its “low- for-long” policy on interest rates for some time, he said.On a related note, this is part of the Banksters' grand plan to restore a feudal society.
“With increasing profits and a lower jobless rate, at some point wages start to go up as workers get more bargaining power,” Mellman said. “But we’re probably a few years away from that.”
The aim a century ago was to mobilize the Industrial Revolution’s soaring productivity and technology to raise living standards and use progressive taxation, public regulation, central banking and financial reform to distribute wealth fairly and make societies more equal. Today’s financial aim is the opposite: to concentrate wealth at the top of the economic pyramid and lower labor’s returns. High finance loves low wages.Read the whole wonky piece at the link for all the gory details. Our system is so broken. These guys literally want to take over the world and leave the majority of us in complete serfitude. And our political class will sell their souls to their cause for a few paltry million in campaign donations. We are so screwed.