Tuesday, June 04, 2013

So much for trickle down

Across the globe corporate earnings are up as are global markets. Yet, "trickle down" seems to have not happened (like always).
Soaring stock markets and higher corporate profitability have pushed up executive pay and left companies sitting on piles of cash, but they have failed to create jobs for millions out of work, according to the International Labour Organisation...

The World of Work predicts that employment rates in advanced economies will not return to pre-crisis levels until after 2017, more than 10 years after the start of the global financial meltdown. It forecasts that emerging and developing economies will recover sooner, returning to pre-crisis employment levels by 2015.
It's like the so-called "advanced economies" picked a course to follow that was the worst course possible...oh, yeah, they did.

 Meanwhile, "trickle down" is still the mantra of most every shill on television -- perhaps the pipes are just clogged from the rich crapping on everyone else constantly?

[cross-posted at Firedoglake]


Montag said...

"Trickle down," ever since Andrew Mellon first coined the phrase in the `20s, was always a lie, was meant to be part of a con job on the public, a way of getting workers to be patient for economic prosperity that never came to them.

Wealth has never trickled down. Ever. What has found its way down to the workers is debt, which created the illusion of prosperity.

Just as Mellon, the banker, intended.

feralcrj said...

more like "pissed on".

truth in words...

Athenawise said...

feralcrj, I'm with you.

Anonymous said...

since trickle-down is a religious belief, it does not need to meet the normal standards of evidence and reason.

someone once called it "reverse Marxism" and that ain't so far from the truth.

pansypoo said...

don't use trickle. it is + always was tinkle.

so far the water/money is only going up hill. we need to roll out the guillotines.