Thom's blog - Wednesday November 24th, 2010

Thom's blog - Wednesday November 24th, 2010

You need to know this about economics. Between July and September this year – American businesses posted the largest profits ever – nearly 1.7 trillion dollars! Never have US companies been so profitable in the history of this country. In fact – this this is part of a steady trend that started when worker salaries began to flatten out with Reaganomics. Most recently, corporations have seen their profits steadily increase every quarter since 2009 – and then they went through the roof the last few months. Yet what have we seen in the labor market? Nothing. In fact – as businesses started making profits again last year – job losses continued. And now – even as we are seeing record-breaking CEO and stockholder profits – job growth is anemic. Why is that? Reagan told us that hiring would start when companies and their rich stockholders and CEOs started making profits again, and they used those profits to hire employees. That’s how trickle-down economics says a labor market recovers from a recession. But Reaganomics - which we're still following after thirty failed years - is a crock. What makes economies recover is when workers have money in their pockets to buy things. Combine that with trade policies that keep manufacturing here in the US, and you have an economy. People buy things, that creates demand for products, which makes factories hire, which gives workers more paychecks. But after 30 years of Reagan/Clinton/Tom Friedman trade policy insanity, that chain has been broken and the factories - and thus the jobs - are now in China. 2 years ago – we all bailed out CEOs with taxpayer money – saving their butts – now those same CEO’s are taking that money and running to China and India to build more factories. Oh – and they want a tax cut too. When are we going to realize our nation's relationship with corporate CEOs in no longer mutually beneficial? - Now it's simply parasitic.

Comments

el10john's picture
el10john 4 years 3 weeks ago
#1

Thom, Thom, Thom: Wrong again. The TSA is not violating our 4th admendment rights. Let's review: the constitution is to protect the people, all of the people, from the government's taking the actions outlined in any single amendment against the people en masse.

These violations affect the people, all the people, without distinction. You need only be breathing for this to affect you.

The TSA, on the other hand, is working with people who choose to fly from certain airports. They are perfectly aware that they will be checked at the airport when they buy the ticket. In order to avoid this, they can merely not fly. That is it. They are not compelled to fly. There is no mention of a "right to fly without going through security" in the constitution.

Also, there are only about 70 airports that have these body scan and pat downs. Pat downs have been at airports for awhile and wands have too. But if they need the extra layer of security, then the passenger chooses which of the body scan or pat down you want. You are not compelled one way or the other.

When they do do the pat down, it is with the back of their hand, not the front, in sensitive areas.

Finally, trying listening to Bill Press. He gets the pat down every single time due to a health implant. He actually is required to do so, however, he doesn't have a problem with it. It's too quick for him to. If anyone could justify being put out, it would be he.

This isn't any more true than your saying that WWII was fought over religious freedom as I heard you say.

You may be writing a lot of books, but try reading some history or contract law books.

Kim

PS: Not everyone can call in to your show. Some areas do not get the show live. Some people actually have to work during those hours.

A Warren Run Would Change Everything

Over the past few weeks, Elizabeth Warren has emerged as a leader of progressives on Capitol Hill. She led the charge against the part of the CRomnibus that gutted our financial regulations, and she is still fighting the White House over its nomination of bankster Antonio Weiss as Undersecretary of Domestic Finance in the Treasury Department.

From The Thom Hartmann Reader:
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Dean Baker, economist and author of Plunder and Blunder, False Profits, and Taking Economics Seriously
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