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The Federal Reserve Bank bankrupt?
wrote in message ... On Fri, 1 Oct 2010 14:23:35 -0700, "nom=de=plume" wrote: wrote in message . .. On Fri, 1 Oct 2010 10:33:49 -0700, "nom=de=plume" wrote: wrote in message m... On Fri, 01 Oct 2010 03:59:32 -0400, bpuharic wrote: On Fri, 01 Oct 2010 02:02:40 -0400, wrote: You really can't blame the unions for screwed up, exploitive management practices that caused the unions to be formed in the first place. The question is what caused them to decline. You can blame it on management but managers answer to stock holders, not unions. Management has a judiciary obligation to stockholders to look at the long-term view, even though stockholders might not appreciate that quarter to quarter. That was the complaint that I started hearing in the late 80s and early 90s. Corporations were losing their long term vision and running ther whole operation on a 90 day window. In the late 80s and beyond we rated the economy based on how the stock market was doing, not how the workers were doing. We still rate the economy on how the major stock indexes are doing. Ok. Not sure what that has to do with the Fed, the decline of unions, or anything else, but ok. It all has to do with the loss of equity in the US and the fed tries to prop that up by printing money. Except that the Fed hasn't been printing money (more than usual). Inflation is not an issue. Bob dances around it but that was particularly true during the Clinton administration. The decline of his middle class went into high gear during that time. That was when major corporations started shedding their senior employees in massive downsizing actions, just to pump up stock prices. That was where his "prosperity" came from. Please define the "middle class." That is an ongoing question here but I will use Bob's definition for this discussion. People with air conditioned jobs. ?? Bectel maybe? They're considered a small business by the Republicans, apparently. Keep in mind that union workers are only about 8% of the work force. Most of them work for the government. Actually, it's about 50/50. Of course, it depends on how you define "public" sector. Does that include police and other essential services? Are you including the Post Office (which is quasi-government)? |
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