Friday, October 14, 2011

Now You Can See Why Occupy Wall Street is So Upset

Dear Henry Bloget,

Thank you for your post.  Your inspired series of charts, graphs and photos not only informed and entertained, but it perfectly summed up and brought into VERY sharp focus just why the Occupy Wall Street movement (and its anger) exists and needs to continue to exist.  Send this post to every politician, every news media outlet manager, and every teacher, firefighter, police officer, factory worker, union member, nurse, and bank employee in America. 

Here is my favorite one:

CEO pay has skyrocketed 300% since 1990. Corporate profits have doubled. Average "production worker" pay has increased 4%. The minimum wage has dropped. (All numbers adjusted for inflation).

If there could be one charismatic person who could channel what you've compiled and stand up before the American people (someone who is not a politician or a celebrity), the movement would grow exponentially, and the grievances of the few young protestors could spread to ordinary Americans.

As Blodget writes:
The problem in a nutshell is this: Inequality in this country has hit a level that has been seen only once in the nation's history, and unemployment has reached a level that has been seen only once since the Great Depression. And, at the same time, corporate profits are at a record high.

In other words, in the never-ending tug-of-war between "labor" and "capital," there has rarely—if ever—been a time when "capital" was so clearly winning.

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