In ’12, 70% of Companies Have Posted “Better-Than-Expected Results” As Wages Continue to Decline

[xchrom]

http://wepartypatriots.com/wp/2012/02/22/in-12-70-of-companies-have-posted-better-than-expected-results-as-wages-continue-to-decline/



The two-headed demon trend of increasing corporate profits and declining wages has shown little sign of abatement, according to the latest numbers:

'The year-over-year change in the so-called core consumer price index, which excludes volatile food and fuel, has outpaced hourly earnings for the last four months. In January, average hourly earnings climbed 1.5 percent from a year earlier, while core inflation was up 2.3 percent.

“A lot of the outperformance of profits has been due to the fact that margins are expanding,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York. “Firms have been able to keep prices intact even though labor costs have been declining.”

That’s one hell of an “even though,” Mr. Chase & Co. The news that 88% of growth between mid-2009 and the end of 2010 went to corporations while 1% went to workers was nauseating last July and remains a quease-inducer today. Even Feroli admits the tragedy here, though his chief concern appears to be consumer spending, not Middle Class security:

…the decline in inflation-adjusted wages bodes ill for the sustainability of economic growth as consumers may eventually be forced to cut back, Feroli said. Businesses have also been slow to redeploy their profits into new hiring.

[MannyGoldstein]

1. And virtually nobody in government - or on DU - gives a fuck

I guess we get what we deserve.

[xchrom]

4. You can't tell centrists anything, manny.

Grow the numbers of poor?
No problem obfuscation can't fix.

Don't throw the banksters in jail?
Oh look over there - it's a new Free Trade Agreement - that some time in the future will grow jobs.

You know - the old soft shoe.

[CAPHAVOC]

5. We have to level the playing field

with China.

[WillyT]

2. K & R !!!

[Vincardog]

3. The financial parasites are sucking the life out of the economy. When the last plant is cut

the last drop of water poisoned and the last foot of earth is poisoned, they will discover
that you can not eat money

[Initech]

6. Remember - CEO to worker pay in America: 475:1.

I'll keep repeating that until I'm blue in the face - it's not or never was about us, it's all about them. I'm growing increasingly worried that what is happening in Greece will happen here.