If you are a investor sure enough the Stock Market is blooming . The economy has been tanking for months, yet the stock market keeps setting new highs every day.There is gridlock in Washington, as politicians can’t decide whether they want to raise taxes on their constituents or wean them off government programs Meanwhile, the national debt is at $16.7 trillion and climbing by $3.8 billion every day. Each citizen’s share of the federal debt is a little under $54,000, according to the U.S. National Debt Clock. For the vary rich.The economy is good as far as the **America plutocratic system goes . Companies that sell discount goods to low-income buyers struggling with lean employment prospects, such as Walmart and Family Dollar, are racking up enormous sales, sending their stock prices higher as they enjoy success from distress. The War on Poverty launched 48 years ago, the poor are getting poorer despite the government's help. And the rich are getting richer because of it. As far as jobs , 88,000 new jobs. The unemployment rate, because of a terrible statistic, is down to 7.6%. Yes it's slow growth . It however has not slump Wall Street. February, according to a Labor Department report released Friday. It was the slowest pace of growth since last June, and less than half of what economists had expected. Businesses dramatically curtailed hiring in March, according to new government data, raising questions about the underlying strength of the economic recovery as the nation absorbs deep federal spending cuts.In a statement, the White House warned of the impact of what it called Washington’s “self-inflicted wounds.” “While the recovery was gaining traction before sequestration took effect, these arbitrary and unnecessary cuts to government services will be a head wind in the months to come,” said Alan B. Krueger, head of President Obama’s Council of Economic Advisers. Capitalism and the free market system has adopted the Manifest philosophy that basically states that they are the locomotive and the rest of us are just followers. But that is not true. We all are valid and we all have our strengths and weaknesses. The real economic engine is small business. When one small business gets in trouble and folds, there is barely a ripple, but when the big boys fail, others suffer greatly.President Obama knows this. The Republicans know this. The Democrats know this. But they don’t give a rat’s ass, at least very few of them do. They’re on Wall Street’s payroll. Wall Street wins again by sucking main street financially dryer.
NOTES & COMMENTS:
** Our curent economy is accurately described by investment advisors and marketing consultants as a "plutonomy," a combination of the terms "plutocracy" and "economy." It refers to an economy in which income growth is confined to those at the top of the wealth pyramid. They use the concept as a guide to framing profitable investment and marketing strategies.
The is the mirror opposite of economic democracy, which is an essential foundation of political democracy, both foundational to the Living Democracy of Earth Community.
Bringing democracy to these
, begins with a new story that acknowledges we have never had it. In the words of Frances Moore Lappe, “To save the democracy we thought we had, we must take democracy to where it’s never been.” United States
The unemployment rate dropped from 7.7 to 7.6 percent in March, according to data released this morning by the Bureau of Labor Statistics — but that was the good news. The economy only added 88,000 jobs.One particularly interesting data point is the labor force participation rate, basically the percentage of the working-age population who are working or looking for work. As Reuters' Cate Long notes, it's at its lowest point in 30 years. Numbers for February and January were revised up 32,000 jobs and 29,000 respectively, yielding a total change of 61,000 jobs.The average workweek increased 0.1 hour to 34.6 hours. Average hourly earnings increased one cents to $23.83, having increased 42 cents over the year.