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View Diary: Republicans would prefer that the economy contract than let Obama spend a few bucks on stimulus (44 comments)

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  •  it's not about obstruction, it's about profits! (5+ / 0-)

    Austerity's Big Winners Prove To Be Wall Street And The Wealthy

    But the austerity game also has winners. Cutting or eliminating government programs that benefit the less advantaged has long been an ideological goal of conservatives. Doing so also generates a tidy windfall for the corporate class, as government services are privatized and savings from austerity pay for tax cuts for the wealthiest citizens. ...

    As many economists predicted, however, the austerity policies implemented after the financial crisis have proved to be a losing proposition for the global economy. The strong economic growth that austerity advocates predicted has not materialized, with the United States showing only anemic improvements, and European countries sliding back into devastating recessions.

    At the same time, corporate profits in the financial industry remain above even the levels reached at the height of the housing bubble, according to Commerce Department data. And elites on both sides of the Atlantic have secured generous tax breaks, made possible in part by cuts to social services.

    they are just doing what they are paid to do.

    i'm part of the 99% - america's largest minority

    by joe shikspack on Tue Dec 04, 2012 at 02:07:32 PM PST

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    •  Exactly right. Maintaining the status quo (3+ / 0-)
      Recommended by:
      joe shikspack, LilithGardener, zaka1

      today is extremely profitable, unlike back in the day 30-40-50 years ago when profits were just very good.

      FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Tue Dec 04, 2012 at 07:00:52 PM PST

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      •  It has been extremely (4+ / 0-)

        profitable for the few, but the many are struggling.  30-40-50 years ago CEOs weren't making millions they were making more like $60,000.00 to just over $100,000.00 and we had middle managers (which started disappearing in the late 1980's) so there were more jobs, better oversight of a product and/or customer service and a more stablized ecomony which fed both the population and businesses in the area, it seemed to be a supply route for all involved.  

        I know I'm getting older, but just 30-40 years ago the population seemed happier and more satisfied with less.  It seems the more cutting that is done the worse the ecomony gets, the less people can afford, and further behind the majority of the people get.

        The area I grew up in was booming, we had professionals, retailers, laborers, and small businesses.  It was a steel mill town, yes, but much grew from the stability of businesses and better wage equality.  Today I see the changes in my area that make me want to cry.  Places that were humming as late as the early 1990's are being boarded up more and more.  The population is still here, but the business is leaving and that makes for a bad combination both ecomonically and psychologically for the population left behind.  The only production I see is medical and we all know that medical can't financially hold an area together when the system itself is too expensive and people are afraid of it because of the cost.

        The corporations are at their most profitable and yet everyone I know is having trouble with the major corporations like AT&T or their cable providers or their medical providers because either the product or customer service is poor or too expensive.  And there is almost no one who is a supervisor with long term experience with a company that can resolve problems with products or billing.  That usually was middle managers jobs and corporations have cut employees down to the bare bones.  

        Profits are fine, but profits for purely wealth accumalation are out of control in this country and I think that is what has gotten us into so much trouble the last thirty years.  

        "During times of universal deceit, telling the truth becomes a revolution­ary act. " George Orwell

        by zaka1 on Tue Dec 04, 2012 at 08:54:04 PM PST

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