The St. Louis branch of the US Federal Reserve Bank reported this morning that labor’s share of total US income is at its lowest level since records have been kept. That’s sixty years of records. That means the demand for goods and services is only as strong as labors income and ability to generate credit. In other words, demand is weak, which is why jobs growth is weak. Getting credit to purchase food and pay energy bills is not in anybody’s interest. The economy is weak and isn’t creating jobs because labor continues to experience defeat to the 1 percent in the legislative markets, where the income of 99 percent is redistributed to the 1 percent.
The worst part is that Barack Obama, president of Wall Street, continues to lead the legislative charge of the 1 percent as they roll over the limited number of champions of the 99 percent in the senate and Wall Street’s US House of Representatives. Wall Street has such liberals as Senator Ron Wyden and Congressman Earl Blumenauer on their ideological and perhaps financial payroll, at least in some way. Why else would Wall Street’s Fetch Boy Ron Wyden and Wall Street’s Fetch Boy Earl lead the charge against the middle class on behalf of the 1 percent? No doubt both will vote for the Trans Pacific Income Redistribution Trade Treaty, which will redistribute income and democracy from the 99 to the 1 percent. Both Fetch Boy Wyden and Fetch Boy Earl know this.
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