What we face is a generation of aging denialists who have jammed up the media and political system with self-serving bullshit. Exhibiting an overwhelming preference for return on capital over return on labour. Which has led to a surfeit of 0% poverty capital circling the globe looking for the next ponzi asset to pump and dump, generating what they call "yield"...
Next week the Fed is going to raise interest rates again.
Any questions?
In my next life I'm going to be an economist. First I'll have to get a frontal lobotomy or I'll be over-qualified.
Corporate profits (blue) versus GDP
"Long-term investors and workers hoping that the tax overhaul and repatriation holiday will encourage investment in growth and a rise in wages should brace for disappointment.
A spike in share buyback and special dividend announcements this week reveals that companies are more likely to use any money saved on an all-too-familiar item: shareholder returns."
And of course the punchline:
"We would hire more people if we saw growing demand for our products and services"
Got that? Companies can't pay people more because there's no demand for their products and services. As they say, never go FULL RETARD.
This is when apologists tell us you can't pay people more than they are worth. But these same dullards never seem to have a problem with paying people a lot less than they're worth:
Productivity versus wages
There's only one way to fix this problem.
Reverse Shock Doctrine:
