Bailouts and Begging
It is only the poor who are forbidden to beg.
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Citi is hiring! . . . or NOT
ByHeatherCitigroup can’t seem to decide if they’re hiring … or laying people off.
Berkeley, UNIX, and LSD
ByHeatherThere are two major products to come out of Berkeley: LSD and UNIX. We don’t believe this to be a coincidence.
— Unknown
Consumers Go On Strike
ByHeatherAs the economy continues to sour, consumers have gone on strike. For the past few months, I have been contemplating the following economic and social trends that seem to explain why.
- American productivity has risen almost 20% in the last decade (Source)
- Real median income over the same period has declined (Source)
- Executive compensation has risen astronomically (Source)
- Consumer debt has risen substantially (Source)
- Consumer spending comprises 70% of GDP
Rising productivity is what enables companies to increase employee’s pay. Increases in pay result in the overall rise in our standard of living. However, in the last decade, this relationship between productivity and rising employee pay seems to have been fractured.
Occupy Wall Street’s Beef: Wall Street is Cheating
ByHeatherThese people aren’t protesting money. They’re not protesting banking. They’re protesting corruption on Wall Street.
Matt Taibbi finally articulated what I have been trying to find words for. I don’t begrudge Wall Street, or anyone, their good fortune (I seek the same good fortune). I just begrudge the way a few people have rigged the system in their favor.
It does not require a majority to prevail
ByHeatherIt does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people’s minds.
— Samuel Adams