Thursday, March 17, 2011

Today's economy

Who's screwed? Anyone's whose not a CEO of a company on the S & P 500. While many have lost their jobs and many more have seen their hours cut at work and their paychecks not going as far as they used to go, transnational corporations are poised to see the biggest profit gains in 18 years. Some of the nation's biggest corporations are expected to see a 9% profit gain this year - the biggest since 1993. And unlike in 1993 - when high profits spurred a hiring spree - don't expect the same things to happen today. That's because - thanks to insane free trade policies - these huge transnational corporations have gotten into a very lucrative business - shipping US jobs overseas. In fact - that's about all our nation exports these days - jobs.

-Thom Hartmann

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