Sep 5, 2011
American companies have increased their profits so much that they broke a 60-year record during the second quarter of 2011. Big business enjoyed a spectacular 54% increase in profits over the last two and a half years.
But U.S. companies sold hardly any more to rake in this huge increase in their profits. No, they achieved this miracle by severely cutting wages and benefits while employing fewer workers and increasing productivity through speed-up.
This capitalist system truly is parasitic.