Trump gave corporations/Wall St. everything they wanted and zero has trickled down

[Cinnabar]

Trump’s support comes largely from America’s working class whose wages haven’t risen in decades, whose jobs are less secure than ever and whose political voice has been drowned out by big money.

Although Trump has given corporations and Wall Street everything they’ve wanted and nothing has trickled down to his supporters, he has convinced those supporters he’s on their side by channeling their rage on to foreigners, immigrants, minorities and “deep state” bureaucrats.

This has been their strategy for three decades, and it’s about to get worse. Three researchers – Daniel Greenwald at MIT’s Sloan School, Martin Lettau at Berkeley and Sydney Ludvigson at NYU – found that between 1952 and 1988, economic growth accounted for 92% of the rise in equity values. But since 1989 most of the increase has come from “reallocated rents to shareholders and away from labor compensation”. In other words, from workers.

What this means is that in order for the stock market to do as well in coming years, either economic growth has to accelerate markedly (highly unlikely), or chief executives will have to siphon off even more of the gains from growth from workers and other stakeholders to their shareholders.

This is likely to require even more downward pressure on wages, more payoffs to politicians for tax cuts and subsidies and further rollbacks of environmental regulations. All of which will worsen the prevailing discontent.


https://www.theguardian.com/commenti...se-power-davos

Good! You voted for a proven POS, you deserve shit.

[Sirthinksalot]

Fake news. Wages are up, household incomes are up and anybody who wants a job can find one.

[signalmankenneth]