Tuesday, January 3, 2017

How Russia Hacked Our Economy

The liberal Economic Policy Institute has a list of their top charts for 2016, some of which I've published here before.

This one that shows what has happened to way wealth that's been added to the US economy by workers has been divided up. "Productivity" means the amount of value produced during a given unit of time. They collect data that shows this economy-wide. Productivity goes up because of things like efficiency from mechanization and lower costs - which could be lower transportation or raw materials cost, or lower labor costs. When productivity rises, there's more profit. The dark line shows how much of it there has been since 1948 and the lighter line shows how much of it we got. So there's a lot more profit now and we get less and less as time goes by.

I read the other day that 94 percent of the jobs that have been added during the Obama Administration have been either part time, contract, or temporary. Between that and the charts you can conclude that while people were freaking out about Republicans, Trump and Russia, their future, their country, their economic security was being sold off by Democrats.

Click here to see the charts, that, as the Economic Policy Institute puts it, show what kind of economy we could have.

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