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thinkahol *

Record profits and record unemployment: Nothing's trickling down - CSMonitor.com - 0 views

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    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.
thinkahol *

America's Tahrir Moment | Adbusters Culturejammer Headquarters - 0 views

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    On September 17, 20,000 people will swarm into lower Manhattan and occupy Wall Street. Last week Anonymous endorsed #OCCUPYWALLSTREET with a video that attracted over 60,000 views before being deleted by YouTube. The Department of Homeland Security has warned the nation's bankers to be prepared. Corporate owned media is taking notice. Today, Paul Farrell, columnist for the Dow Jones owned MarketWatch.com posted this rousing portrait of what may now unfold:
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