Cadillacs for them, breadlines for the rest of us.
Welcome to The Cahokian... A thousand years ago Cahokia — across the Mississippi from what is now St. Louis — was one of the biggest cities in the world. Now it's an empty green spot next to the highway. I'm a middle-aged gay man living in New York City, center of the world, future footnote on somebody's future map. Welcome to the new world.
Yep
ReplyDeleteA fact that isn't discussed often enough is the CEO-to-worker pay imbalance that has been growing at an enormous and disproportionate rate that surged in the 1990's.
ReplyDeleteIn 1965 CEO earnings were 24 times that of the average worker. If you compare CEO wages to factory workers wages only for the same period the rate would be 42 times higher - a figure that would soar to 411 times higher in 2005.
When comparing CEO pay to average worker pay the disparity while not as high it is still great. In 1989 the CEO wage to worker pay was 71 times and this surged during the 1990's to an all time high of 301 times. The stock market fall moderated that figured to 143 times in 2002, however by 2005 the rate was back up with CEO wages 262 times higher than the average worker pay; and the CEO wage compared to factory worker pay was 411 times higher.
An interesting read is 'Wealth, Income and Power' by G. William Domhoff, written in September 2005 and updated January 2011. You can find this at http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
I've read that statistic before Annie. It makes me so MAD!!!!
ReplyDeleteJust finished watching Oscar-winning documentary "Inside Job" - about the 2008 economic meltdown. I recommend it.
ReplyDeleteIf nothing else it gives you a chuckle to see the weasels squirm when they get squeezed. In the end you realize you are looking at a team photo and the only change over the years was the team captain, all the players remain (present tense) the same.
It made me think that on May 16th the US will reach its debt limit. If the limit is not increased the United States will be in default on its loans, if that happens there will be a world-wide financial meltdown.
Question - Do you think anyone is going to let that happen? Hmmm...
I want to see that film. I've heard it's great.
ReplyDeleteI do indeed wonder what's gonna happen. I confess to wishing we were watching events unfold in some other country.
I called my Congressman and this is what he had to say: http://youtu.be/FGVGFfj7POA
ReplyDeleteOh what the heck, have a great weekend and enjoy "gettin jiggy with it". I refuse to let the bastards get me down.