Jul 19, 2010
Which part of the economy caused the depression we are in? High finance, banks and Wall Street.
Which part of the economy was bailed out with unlimited taxpayer funding? High finance, banks and Wall Street.
Which part of the economy shows the only job growth? Right again! High finance and Wall Street!
Profits for members of the New York Stock Exchange set a record of 61.4 billion dollars in 2009, and employment in financial firms is picking up. Jobs in the financial sector are now above the level of 2001.
But in manufacturing, jobs are about 33% below 2001. In construction, jobs are 15% below 2001.
But high finance is hiring anew – ready to restart the same speculative casino that collapsed on us already!