Profits up - wages down. Duh!Posted By James McSheehy |
In my small business, wages and profits are down compared to pre-2008. The only reason we have any "growth" in GDP is the shenanigans of the Federal Reserve. All smoke and mirrors.
I find myself in agreement with Paul Krugman -- we are in a depression. Pretending that it doesn't exist will not make it go away. The people and large banks that made bad decisions regarding debt need to suffer the consequences. The wipe-out won't be pleasant, but it's the only way to get the economy moving again.
I find myself in agreement with Paul Krugman -- we are in a depression. Pretending that it doesn't exist will not make it go away. The people and large banks that made bad decisions regarding debt need to suffer the consequences. The wipe-out won't be pleasant, but it's the only way to get the economy moving again.