November, 2011

30 Nov

Living in a Material World

By Walter

Black Friday has exceeded all expectations! On what has become the most important shopping weekend of the year, at a time when the world financial system is on the verge of collapse and the US economy is suffering from malnutrition, there were 6 percent more shoppers than last year and each shopper spent an average of $400, which was an increase of 9 percent. What is the meaning of this? I see the long lines, the crowds, the pushing and shoving, the mad search for bargains as a result of two troubling factors:

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28 Nov

Corporations Increase Their Profit Skim

By Walter

If the US economy is in a recovery, where is it being felt? By the 1 percent occupying the corporate boardrooms. At the depth of the Great Recession, corporate profits never declined below 5 percent of gross domestic product. And since then, have hit historic highs. According to figures released by the Bureau of Economic Analysis, in the second quarter of this year corporate profits were at an annual rate of 10.1 percent. And what happened in the third quarter? The corporate profit skim increased to 10.3 percent, for an annual rate of $1.56 trillion, after taxes, which amounts to nearly $5,000 for every man, woman and child. With this enormous skim off the top of the American economy it is strange that 

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