AEGEE International Politics Journal

written by Tom Keller, HR Officer of IPWG

 

I’ve just read Sophie’s article on the economic crisis , protests against different financial instituations and I wanted to add some background information on the topic.

“Greed is good.”, said Gordon Gekko (played by Michael Douglas) in the 1987 blockbuster ” The Wall Street”. 24 years have passed, but money has never slept, now we can see a lot of protesters on the streets of Manhattan against Wall Street.

But what are these protesters angry about? What are the main reasons?

Here are some self-explanatory charts provided by the FRED® Economic Data, which explain the situation in the US clearly to non-experts also:

 

“1. Unemployment is at the highest level since the Great Depression (with the exception of a brief blip in the early 1980s).

Unemployment Rate

Image: St. Louis Fed

2. At the same time, corporate profits are at an all-time high, both in absolute dollars and as a share of the economy.

Corporate Profit After Tax

Image: St. Louis Fed

Corporate Profit As A Percent Of GDP

Image: St. Louis Fed

3. Wages as a percent of the economy are at an all-time low. In other words, corporate profits are at an all-time high, in part, because corporations are paying less of their revenue to employees than they ever have. There are lots of reasons for this, many of which are not the fault of the corporations. (It’s a global economy now, and 2-3 billion new low-cost employees in China, India, et al, have recently entered the global workforce. This is putting pressure on wages the world over.)

Wages As Percent Of GDP

Image: St. Louis Fed

4. Income and wealth inequality in the US economy is near an all-time high:The owners of the country’s assets (capital) are winning, everyone else (labor) is losing.

Three charts illustrate this:

The top earners are capturing a higher share of the national income than they have anytime since the 1920s:

wealth and inequality

CEO pay and corporate profits have skyrocketed in the past 20 years, “production worker” pay has risen 4%.

wealth and inequality

 

After adjusting for inflation, average earnings haven’t increased in 50 years.”


http://www.businessinsider.com/here-are-the-four-charts-that-explain-what-the-protesters-are-angry-about-2011-10#ixzz1b2MlvqgQ

Tom

 

Author :
Print

Comments

  1. If you’re looking for the best way to make your body slimmer, read on. While many would have you believe that it’s with the latest fad diet or miracle pill, I’m here to tell you otherwise.

  2. High security fencing is frequently used around construction sites, military establishments, prisons, and other locations where there is a fear that people could wander onto the premises and be injured. You can likely see what a prison has high security fencing around its perimeter.

  3. Setting up your web marketing program is not always easy, but there are some tips and tricks that can make the process a little more simple. Technological innovations can help you create that network of referrals, without great time or expense.

  4. If you should be worried about the aging process well try to enjoy items that will make people feeling youthful anymore. Visit that the tiny course, or even play a few video games during the arcade. With performing those things which kind of cause you to feel younger

  5. Providing a home can be one of the most finest choices you make as part of lives. That’s the reason it is extremely important you are educated on the topic. In next page, you will be given guidance also techniques that can help you through this particular vital move.

  6. If you should be worried about the aging process well try to enjoy items that will make people feeling youthful anymore. Visit that the tiny course, or even play a few video games during the arcade. With performing those things which kind of cause you to feel younger

  7. Transportation from one place to another is important for everyone. There are many ways for the movement from one’s home to his workplace. Some people use public transport for the safety of time. They do not need to spend time for parking their vehicles.

  8. For all those focused on creating a career and additionally making sufficiently money to grant for yourself, a a number of time is normally spent out and about. Both of you can be like couple of ships passing on the night getting into opposite manuals.

  9. I recommend that at the time you embark about the decision to rotate jobs or possibly careers that particular one of any first steps can be to register with a number of online activity boards and to get working mail status updates regarding focused jobs. Several job pieces of wood are seek.com, mycareer.com, careerone.com and for working mums seeking jobs with flexible arrangement job boards such as careermums.com.au is an excellent tool too..

  10. All the Colorado Arises area has become a 2010 hub for those U. Lenses. military moment 1942, when Campy Carson was first erected after that the Treasure Harbor approach. Since then city comes with attracted other military installations, and becomes home to a portion of the finest facilities on the nation. The fact is,

  11. All the 48 Law regulations of Power certainly is the best-selling book compiled by Robert Alternative which presents a set of 48 law regulations that express people methods to obtain effectiveness, preserve the software, and keep themselves to protect against those powerful folks that make most of the lives very difficult.

  12. I really like it when individuals arrive jointly and share opinions, fantastic weblog, hold it up.

    [WORDPRESS HASHCASH] The poster sent us ‘0 which is not a hashcash value.

  13. Dear Tom,

    there isn’t anything better to complete the Newsletter!
    Thank you for your great work!

    Waiting impatiently for the debate!

Comments are closed.