It describes how we got to the Great Recession, and how the middle class lost so much ground. Check it out from time to time, because I'll be adding new stories as I comb through my piles of archives. Because its a page, all the videos are on one long page, unfortunately.
Here's why this page is so important, from the NY Times today:
Reasons Abound for Ebb in Job Growth: Instead, for reasons that are unclear, workers continue to peel off the labor force. An estimated 342,000 Americans dropped out of the job market altogether in April. With the average duration of unemployment now at an interminable 39.1 weeks, many people have simply given up looking for work. Because employers have learned how to produce more with fewer workers, there is also debate about what exactly “healthy” employment would look like in the current economy.
What the wealthy and corporations have failed to understand is that workers without good paying jobs,their products will sit idle in empty stores and their dividends will disappear.
ReplyDeleteAMERICAN FAMILY INSURANCE JUST FIRED 87 WORKERS. Those workers will immediatly begin reducing their spending.
When Walker required public workers to reduce their salaries by thousands and forced the retirement of many more thousands the end result was - less spending and demand for products and services. Austerity does not work in a depression.