Tuesday, December 31, 2013

US Working Class Face Greater Struggles as Economic Bubbles Continue

The US working class have taken another round of austerity, with cuts in subsidized housing (HUD Section 8), early childhood education (HEADSTART), food subsidies (SNAP) and long-term unemployment benefits.  The US Federal Reserve, however, continues to give tens of billions of dollars each month to the nation's largest banks, through its quantitative easing program.

Meanwhile, bubbles and budget shortfalls persist in healthcare, higher education, the military-industrial complex,and the financial system, including pensions and retirement programs.   Working class people of all ages continue to adapt to this predatory economy by working harder and making financial sacrifices.  The same cannot be said for those in power. 








Thursday, March 14, 2013

Stock Market High...and Worker Lows

US workers continue to suffer as elites consolidate even more power and money.  The US Treasury and the Federal Reserve continue to funnel money into the big banks through Quantitative Easing (QE).  In this scheme, banks are overpaid for their toxic assets.1

On the worker front, about 50 million people in the US continue to rely on SNAP (aka foodstamps) to get by.  Youth continue to have difficulty in finding work, and many are feeling depressed and suicidal.  Work hours are also being reduced by some corporations to skirt the Affordable Care Act.2  At the time of this writing, Republicans and Democrats are discussing austerity measures that are already hurting low income workers and their families.3