2014 (11) January (11) How American Government

This new face of poverty — a face that’s both poor, near-poor, and precarious working middle, and that’s simultaneously black, Latino, and white — renders the old Republican divide-and-conquer strategy obsolete. Most people are now on the same losing side of the divide. Since the start of the recovery, 95 percent of the economy’s gains have gone to the top 1 percent. — Which means Republican opposition to extended unemployment insurance, food stamps, jobs programs, and a higher minimum wage pose a real danger of backfiring on the GOP. - Robert Reich , "Why the Republican's Old Divide-And-Conquer Strategy — Setting Working Class Against the Poor — Is Backfiring"
To make Reich's long story short : ... ... And 2013 was a banner year for profits . Robert Reich Where did those profits come from? Here’s where redistribution comes in. American corporations didn’t make most of their money from increased sales (although their foreign sales did increase). They made their big bucks mostly by reducing their costs — especially their biggest single cost: wages . They push wages down because most workers no longer have any bargaining power ... ... In the 1950s, over a third of private-sector workers were members of labor unions. Now, fewer than 7 percent are unionized. All this helps explain why corporate profits have been increasing throughout this recovery container habitable (they grew over 18 percent in 2013 alone) while wages have been dropping. Corporate earnings now represent the largest share of the gross domestic product — and wages the smallest share of GDP — than at any time since records have been kept. Hence, the Great Redistribution. ... Merely the workings of the "free market"? First, show me a free market; then maybe you can make that argument. Reich points out the ways in which government has put its thumb on the scales, to the benefit of corporations (hence investors, hence mostly wealthy people) and the detriment of their employees. This may be a zero-sum game, but it is far from a fair game. And it's the worst it's ever been in recorded American history. Just how far can the 1% push matters before the 99% collapses? and what happens then?
Off topic, tonight, Houston is forecast to experience a freeze down to 22°F. This morning, after last night's (apparent) 26°F freeze, the temperature has not exceeded freezing despite a partly sunny morning. The only thing saving us from utter misery is the lack of precipitation. Stella drove to work this morning... container habitable standing at bus stops in this weather is to be avoided. I can only hope the lack of rain continues container habitable until she gets home.
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2014 (11) January (11) How American Government's Presumption Of Good Fait... Long Before Manning And Snowden, COINTELPRO Burgla... Krugman Examines The War We Didn't Really Lose: Jo... Senator Sanders To NSA: Are You The New Hoover container habitable FBI... Robert Reich: The Great (Upward) Redistribution ♫ Soon It's Gonna Freeze... I Can't Feel It... ♫ Not Beyond Outrage After All Progressive Wins In 2013 Missing Workers And The Unemployment Rate Bitcoin — Soooo 2013! Happy 2014! 2013 (416) December (34) November (41) October (68) September (34) August (32) July (33) June (32) May (28) April (29) March (28) February (34) January (23) 2012 (479) December (36) November (63) October (73) September (56) August (64) July (70) June (58) May (57) April (1) March (1) 2011 (329) November (1) October (1) September (1) July (3) June (4) May (38) April (78) March (80) February (75) January (48) 2010 (442) December (41) November (39) October (36) September (18) August (19) July (41) June (50) May (43) April (52) March (30) February (34) January (39) 2009 (11) December (11) 2008 (1) March (1)