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The Churning and Corporatizing Economy of the United States »

Posted by: Spadecaller 2 years, 10 months ago

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The corporatizing economy of the U.S. is racing far ahead of its being understood. Analysts have barely begun to figure out the consequences of this seismic shift of capital structures. It's class warfare in reverse; the super rich and their corporations against the workers are redistributing the workers' wealth into their own pockets and coffers.

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Spadecaller

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Comments: 5

Avg rating: (+4/-0 4)
Spadecaller
Jan. 14, 2007, 8:01 a.m.

"In the last quarter century the value of the U.S. corporations has risen 12-fold, according to /The Wall Street Journal. /C.E.O. pay has skyrocketed similarly. But workers today, on average, are still making less, in inflation adjusted dollars, than workers made in 1973-the high point of worker wages!"
If the power-elite wasn't so clever at pitting Americans against Americans, and the U.S. citizenry was smart enough, we could finally quell their hold over our paid for White House and Congress. Think about it...
Avg rating: (+9/-0 9)
berkeley
Jan. 14, 2007, 12:03 p.m.
i heard nader speak a few weeks ago. though he's in his 70's, he has just as much fire about corruption as ever. what a treasure.
Avg rating: (+1/-1 0)
bubba2
Jan. 14, 2007, 1:14 p.m.
The U.S. rank among developed nations in the GAP between the richest and poorest citizens is #1.
Among developed nations, the U.S. rank for income disparity between the richest elites and everyone else is #3 (Exceeded only by the income disparities in Mexico and Russia).
The 1982 ratio of average CEO pay to average worker's pay was 42 to 1 - 2003 ratio was 300 to 1 - 2006 ratio is ($11.8 million to $27,460) 431 to 1 !!
The number of Americans now living in poverty (12.7% of U.S. population) is 37 million. The increase of Americans falling into poverty under Bush is 5.4 million (even though the economy has been 'growing').
Bush and the Republicans have supported this corporate versus worker shift. They only care about how rich they will become and they care MOTHING about the 80% of the workforce and the poor.
Avg rating: (+7/-0 7)
ETproductions
Jan. 14, 2007, 3:19 p.m.
Adding to Bubba's list, 7 million more Americans have lost health insurance since Bush took office in 2000. And many who still do have some form of company sponsored coverage have seen their benefits and coverage shrink drastically while their premiums doubled and tripled.
Avg rating: (+0/-0 0)
Lurch
Jan. 15, 2007, 8:03 a.m.
This is class warfare whether the enemy is actually cognizant of it or not. All they care about is creating a society where they and their offspring are guaranteed lives of the elite, rich, and famous. The best way they can do that is by creating a system of parasiting off the backs of the ordinary working stiff.
You don`t make the big bucks by actually working for it, you make it by taking off the top of other peoples earnings.
From the article:
Citing data from the Center for Labor Market Studies at Northeastern University, /New York// Times'/ columnist, Bob Herbert, reports that between 2000 and 2006 the combined real annual earnings of 93 million American workers rose by $15.4 billion. That rise is "less than half of the combined bonuses awarded by the five Wall Street firms for just one year."
You don`t make the big bucks by actually working for it, you make it by taking a little bit off the top of a whole lot of other peoples` earnings.