January 12, 2012
-- by Dave Johnson
The MUST WATCH video from the post below:
Another aspect of this, you have to have a heck of a lot of money in the first place to participate in private equity, hedge funds, etc. Even in stocks, actually: 50.9% of all stocks, bonds, mutual funds are owned by the 1% and 39.4% owned by the next 9%. The bottom 50% of us own 0.5% of all stocks, bonds and mutual funds.
So if this does somehow benefit "the economy" it is not an economy that most of us participate in at all. All most people get out of this intense capitalism is the wage cuts, job cuts, loss of benefits, etc.
THIS is who benefits from the layoffs, job cuts, wage cuts, loss of benefits, environmental degradation, worker deaths/injuries, and the rest:
This chart says it all. The 1% benefit, almost no one else. And we are ALL -- 99% of us, anyway -- feeling it now.
Posted by Dave Johnson at January 12, 2012 6:00 PM
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