When the housing bubble began to burst more than a year ago, it was only the first of many bubbles. In the “easy credit” economy, perhaps it’s best to imagine industries as a collective head of foam on a beer. Everything was propped up by the illusion of credit. As a few bubbles began to [...]
Filed under: commentary, news of the empire | Tagged: bubble economy, credit bubble, crisis, dead malls, economy, recession, the great contraction | Leave a Comment »
Why you’re in debt
Here it is, clear as day, courtesy of “Who Rules America“ Figure 7: CEOs’ average pay, production workers’ average pay, the S&P 500 Index, corporate profits, and the federal minimum wage, 1990-2005 (all figures adjusted for inflation) Powered by ScribeFire.
Filed under: commentary, News, politics | Tagged: consumerism, debt, economy, politics, Reaganism is a sham, wage gap | Leave a Comment »