“Great news on Wall Street this morning. Worker productivity is up by more than 4 percent, wage pressures are way down, and overall labor costs are reduced.”
Thus, workers are working even harder, producing more, and receiving ever less in compensation for their work and time. Ain’t America great? Where we can be proud of squeezing workers more and more and more each quarter, scuttling pension plans, reneging on promises of health care, watching as they scrabble ever downward on their race to the bottom? Why do I think Barbara Bush and her ilk would find this heartening, aside from the obvious monetary gains to Wall Street?
Only a brazenly heartless pig would greet the data above with glee. Anyone else understands what it means to the working man and woman, and to their children. It is 34 degrees Fahrenheit outside this morning in Oakland, and I wonder how many homeless people died last night, how many will die tonight. More good news for Wall Street, as utter desperation makes people willing to work for less and less. Ain’t America great, with the bandit class in power? So much more “efficient”!