Monday, May 30, 2011

                                                                  US 491 in the Navajo Nation 25 miles north of Gallup, NM

 Getting What We Deserve

An article in the Austrian newspaper die Presse, by Erich Vogt, entitled "Has The American Dream Faded Away," contains some interesting statistics about what has occurred in the United States since the 2008 economic crisis. The translation is provided by the web site Watching America:

"Eighteen months after the onset of the crisis, the Wall Street Journal reported a 5.2 percent increase in productivity while workers’ income rose only 0.3 percent. This means that only six percent of the productivity gains were passed on to the labor force.

The remaining 94 percent, with a book value of $2 trillion, was divided up between business owners, management and stockholders, as well as put into large-scale stock buy-back actions."

I rest my case. 


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