Wednesday, July 28, 2010

Is the economy bad, or just the people running it?

Sure the economy is bad, for most of us. Unemployment is up, jobs are hard to find. But when I go to the store, or a mall, or a restaurant where there are people buying things, the lines are much longer than they use to be and the excuse I get is, they are short handed because of the economy. What, you have people lined up to hand you money, and you will make them wait, take a chance of them going someplace else, because the economy has "forced" you to cut your staff? This makes no sense to me at all.

Funny thing about this economy it seems to be its own excuse. On the news the other day, they reported the sales of high end luxury yachts out of the Miami manufacturing plant, has more than doubled in this bad economy. They have had to put on extra shifts. It seems the corporate big wigs have used the economy as an excuse to cut jobs, underpay employees, and in general increase their personal wealth. And this in turn makes the bad economy even worse for the average and below person while they continue to rake it in.

Right now, 10% of the population owns about 80% of the wealth, and the top 1% own about 42% of the wealth.
In the US from 1960 to 1990 the average CEO's pay was between 50 and 100 times the average workers pay.
From 1997 to now it has ranged from 300 to over 500 times the average workers pay.

Corrected for inflation, from 1990 to 2005 the average CEO's pay as gone up 298%, minimum wage has gone DOWN 9.3%

If the economy stays bad long enough, some of these wealthy, but not those at the very top, will also be affected. Then they will start to push the politicians to make real change. But until then it is just bunch of people with money, ruminating with other people with money on why what they are doing is the right thing to do, even it is does not help anyone but them.

Unless of course we start to actually pay attention to politics, learn the real issues, and start voting for people that can actually answer questions on the issues, not just vote for or against a party. The system is not two party, we have made it that way, but that is for another day.

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