Characteristically excellent +Henry Blodget
post with the 4 (actually 5) charts that explain why the OWS protests are resonating. In brief:
1. Unemployment is at the highest level since the Great Depression (with the exception of a brief blip in the early 1980s).
2. At the same time, corporate profits are at an all-time high, both in absolute dollars and as a share of the economy.
3. Wages as a percent of the economy are at an all-time low.
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.
Strong data; vast implications. Especially notable, to me: The spike in corporate profits and CEO pay and the relative drop in wage income was the result of deliberate policy choices made in 2001, not random market forces. The 1990s Clinton-era boom was good for corporate profits and CEO pay and also for wages, while the 2000s Bush-era recovery was great for corporate profits and CEO pay, but terrible for wages.