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WHY THE ECONOMY SUCKS: Because American Companies And Their Owners Are Greedier Now Than At Any Time In History


Business  (tags: business, economy, money, usa, finance, americans, corporate )

Carol
- 1844 days ago - finance.yahoo.com
This isn't a complex concept. We're all in this together. Let's go to the charts.



   

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Comments

Freya H (345)
Sunday March 2, 2014, 9:18 am
Good to see an article like this on a more-or-less mainstream site like Yahoo Finance. At least nobody can say that it comes from some lefty "socialist" site. More and more people are waking up to the fact that far too many CEOs and companies have been infected with a nasty virus called Greed. Too bad they were so short-sighted and didn't realize jacking up profits while depressing wages will come around to bite them in their a--es. Hard.

Besides, more and more people are waking up to the realization that our consumerist lifestyle is not sustainable. More and more people are ignoring the cries of the merchants and achieving satisfaction with less stuff and by sharing what they can.
 

Patrick Donovan (344)
Sunday March 2, 2014, 9:40 am
Things won't change unless people get out and vote. We need legislators who will protect unions, consumers, and those in need. We all need to wake up to reality and tell our friends over and over again until they understand.
 

Sue Matheson (79)
Sunday March 2, 2014, 10:07 am
noted
 

Sara V (0)
Sunday March 2, 2014, 5:26 pm
"Many people seem confused by this juxtaposition. If corporations and shareholders are making such gargantuan piles of money, why is the economy so crappy?"

"In short, the main reason our economy is still weak is that our obsession with "maximizing profits" is creating a country of a few million overlords and 300+ million serfs."

Yes, and the ability to maximize profits comes from the legal counterfeiting which banks are allowed to do. You and I cannot create money out of thin air, but the banks can. Fractional reserve banking laws allow them to lend nine times the money they actually take in from us little people. That means that they lend money they don't have to us for our mortgages and car loans, and if we default, they get the goods absolutely for free. If we don't default, we pay them plus interest - in exchange for nothing real. If you could perpetrate this racket, how well do you think you would be doing? Couple that with the Federal Reserve creating money out of thin air for our government, and our government spending it in ways we don't like and giving it to people who already have too much money they gained through fraud, and you have the current scene.

It's not simply greed, but a system which facilitates wealth disparity like none ever seen on this planet. Aren't we lucky to be around to see it...
 

Paula P (55)
Sunday March 2, 2014, 6:00 pm
Greed ...the worst of the seven deadly.
 

Gloria picchetti (304)
Sunday March 2, 2014, 6:50 pm
Thank you Carol!
 

Katie & Bill D (107)
Sunday March 2, 2014, 6:57 pm
Very interesting Article!
Thank You Carol
 

Past Member (0)
Sunday March 2, 2014, 7:02 pm
Not American biz, globalist American, multinationals..that greed driven regime from hell gotta go..and there only one way to do it :) and that aint a happening..American govts, globalist govts..fascists and theocrats..loony tunes..enjoy your destruction ala Vatican. Follow the money..all bucks lead to Rome..all owned by Rome. Ruled by Rome. Robbed by Rome..dominus vobiscum et cum spiritu..calling down the devil :)
 

Sara V (0)
Sunday March 2, 2014, 7:44 pm
Don't you think that greed has existed through all of time?

Centralization of control provides a golden opportunity for greedy people to extend their reach and power such that gross imbalances result.

The redwoods would not have been logged almost to extinction without the railroads being pushed through, settlers would not have been able to take over native lands without military protection, big box stores and the death of local economies would not have been without the highway system being built, the decline of small farms since the "justice" system protects Monsanto's interests - all of this leads to a darker, less diverse, and more depressing world. Individuals cannot wreak such havoc on their own. Decentralize!
 

Jonathan Harper (0)
Monday March 3, 2014, 4:37 am
noted
 

Past Member (0)
Monday March 3, 2014, 12:41 pm
Absolutely right.
 

Lona G (66)
Monday March 3, 2014, 12:48 pm
I agree with Freya, it is hopeful to see articles like this appearing on more mainstream sites. The more people see that this doesn't stem from some socialist conspiracy against the very rich, but something that is a reality that affects most of us, the better.
 

Roger G (148)
Monday March 3, 2014, 2:46 pm
noted, thanks
 

Mary Donnelly (47)
Monday March 3, 2014, 4:14 pm
Thanks. So what are we doing about it--making more profits?
 

Charlene Rush (79)
Monday March 3, 2014, 4:16 pm
The question should be, 'How long will the 98-99%, permit this abuse to continue'.

I'm tired hearing from the conservative right, how they want to eliminate the safety net from the poor. Why are we not talking about eliminating the safety net from the wealthy.
They wrote the tax code for themselves, and we just sit back and tolerate it.

What's wrong with us?
 

Lois Jordan (63)
Monday March 3, 2014, 4:27 pm
Noted. Thanks, Carol. Some great comments above. I can only add that there are more monopolies forming. It is parallel to the end of the 19th century....beginning of the 20th century, before regulations were put in place. Looks like it's way past time for some new regulations to break up monopolies like Comcast.....
 

Jeremy S (3)
Monday March 3, 2014, 6:22 pm
Greed has done more damage to the world economy than all the politicians put together could possibly do (and believe me, they tried).
 

Sheri Schongold (7)
Monday March 3, 2014, 7:31 pm
If the greedy pigs running the companies, CEO, COO etc and the greedy investors would be human for a change instead of cash registers and safes, may we would have a chance to recover. These piggy people are out for themselves and don't give a hoot about the "little people". There must be a way to separate those people (if you want to call them that) from their money. Any ideas?
 

Angelus Silesius (120)
Sunday March 9, 2014, 7:54 am
A major American retailer brags aboyt how much it pays out in profit sharing.... then the following year it raises the sales plan such that it will be nearly impossible to make profit sharing goals. That same major retailer having essentially cut raises to a mere 1% and replaced themwith profit sharing.
 

Melania Padilla (123)
Tuesday March 11, 2014, 1:16 pm
I agree
 
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