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Record Inequality and Corporate Profits Are What Media Call a ‘Strong Economy’

Originally published at http://www.commondreams.org/views/2019/11/19/record-inequality-and-corporate-profits-are-what-media-call-strong-economy

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This is a fantastic analysis and demonstration of the self delusion that the ultra comfortable class like to tout.

Great work, young man.
Keep these wonderful articles coming.

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The millionaire newsreaders who work for billionaire media owners aren’t going to tell us anything their bosses don’t want us to know–like, for instance, the fact that US labor unions once owned radio stations and newspapers that could counter ruling class propaganda. It should surprise no one, then, that the percentage of workers has dropped from more than one in three in the immediate post-WW2 era to between 12% (government workers) and 8% (private sector) today.

I suggest there’s a direct correlation between these facts and the sorry state of the real economy, which has produced such gross and grotesque disparities of wealth that even corporate media are having trouble painting happy faces on it.

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Hey, G — apologies if I’m mistaken, but I took the liberty of editing your copy for what appears to be a missing word. I believe you still have time on the editing clock to change your original; if so — or if you tell me I’m incorrect — I’ll pull this reply. Cheers.

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I’m one of those people doing contracting work. In my case, it’s by choice. I have health insurance through my wife’s employer. I prefer not working full time because my job is a mental strain.

Still, even though I’ve had the same client for more than a decade and we have a solid relationship, it’s a very unpredictable and precarious situation in terms of job security and hours worked. To say those hours vacillate wildly would be an epic understatement. And the demand for the work I do could suddenly dry up so that I’d be forced to start hustling for something in the same line kinda from scratch.

Thus, if I was surveyed about how strong an economy I think we have, I’d say “not very.” Wages are stagnant, workforce participation is low, GDP growth is tepid – and job security is nil.

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Yes - I agree wholeheartedly ZPF ~

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“Corporate news outlets have an inherent interest in cloaking class warfare by equating a ‘strong economy’ with the prosperity of the investor class, even if it comes at the expense of everyone else.”

That subtitle bore repeating.

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The only “economic indicator” that really matters is an empty wallet

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Well now I thought that Stephanie Ruhle of MSNBC was telling us all the truth when she was bragging how it was and we have all of these corporate profits that she was frothing at the mouth about. All you could hear her say for the better part of a 10 to 15 minute spiel was “corporate profits, corporate profit, corporate profits” over and over again like a sheep bleating.

One might also add that labor unions were as you said a much larger percentage of the economy in many industries going back to even 1980 just before Ronald Raygun and trickle down economics took hold and the tap started getting turned off on the former middle class and working men and women. But I am sure when I turn on MSNBC at 9 am in the morning the rest of the week Wednesday to Friday and all next week except for the holiday we will hear Stephanie Ruhle the mouthpiece talking about how everything has been rosy because of these corporate profits like a sheep bleating for its mother. Its quite a disgusting scene to watch these so called journalists (modern urinalists) talk about and lick the hands of the corporate masters by making sure that the US form of Pravda (Russian for "Truth) is telling the serfs and proles that their corporate masters are looking out for them.

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I’ll give an example that Louisville, Kentucky one of my nearest cities of 1.2 million metro population in 1980 had a unionization rate of 36 percent back at that time. Now its only about 10 percent if that and most of that 10 percent are public employees in education, government work, etc. They’ve pretty much shredded whatever exists of private sector unions much to the detriment of the working and middle classes that have bought into the hook, line and sinker that all of them are someday going to be management material or supervisors.

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Nice catch, no apologies needed.

Possible headline for the Onion:

Republican Dictator’s Approval Ratings Inexplicably Low Despite Mounting Impeachment Evidence, Many False Reports of Strong Economy in Corporate Media