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Fake Market Hikes, Outsourcing = High Corp. Profits and Low Wages
- Published_at:2013-03-06
- Category:News & Politics
- Channel:Michael Reeves
- tags:
- description: Artificial manipulation of the stock market by the Fed, and outsourcing generates skyrocketing corporate profits, high unemployment and low wages. The president of the Dallas Federal Reserve Richard Fisher recently admitted that the Fed was artificially boosting stock market gains by buying $85 billion in treasuries and mortgage-backed securities each month. Nobel Prize winning economist, Joseph E. Stiglitz, told MSNBC's Rachel Maddow why he thought corporate profits were surging while working wages were at all-time lows. "Well what's going on with the stock market right now is very simple," Professor Stiglitz said. "The economy is not doing very well; that's why the Fed is keeping interest rates very low and looks like it's going to keep interest rates very low. So that means the cost of capital to firms is very low. Unemployment is high; that drives down wages. And the two of those together means high corporate profits as your chart showed." Professor Stiglitz also added that corporate profits are surging in countries like China where companies are outsourcing their for work for lower wages. This also creates an environment where less Americans are employed having lost their jobs to people overseas.
| ranked in date | views | likes | Comments | ranked in country (#position) |
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| 2013-03-08 | 8,547 | 36 | 14 |
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| 2013-03-09 | 11,868 | 46 | 17 |
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| 2013-03-10 | 14,094 | 52 | 18 |
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| 2013-03-11 | 16,085 | 54 | 18 |
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| 2013-03-12 | 18,032 | 58 | 18 |
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