https://www.commondreams.org/news/2022/ ... -1460-1978Between 1978 and 2021, according to new research from the Economic Policy Institute (EPI), CEO compensation at the 350 largest publicly traded U.S. companies rose by an inflation-adjusted 1,460%, far outstripping the 18.1% pay increase that the nation's typical worker saw during that period.
The trend of soaring CEO pay has continued during the coronavirus pandemic, which caused mass economic chaos and job loss among ordinary workers. EPI found that "while millions lost jobs in the first year of the pandemic and suffered real wage declines due to inflation in the second year, CEOs' realized compensation jumped 30.3% between 2019 and 2021."
"Typical worker compensation among those who remained employed rose 3.9% over the same time span," note EPI's Josh Bivens and Jori Kandra, the authors of the new report.
Federal Reserve Chair Jerome Powell, the world's most powerful central banker, has been forthright about the primary goals of rate hikes: A weaker labor market and lower wages. According to the Fed's own projections, rate increases could throw around 1.5 million people in the U.S. out of work by the end of next year.
Yes, it's from the whiners-in-chief, CommonDreams. But the facts are true. This is a gun board, and we can talk about root cause mitigation all we want, 'till we're blue in the face, as it were, but our entreaties will fall on deaf eyes because trickle-up economics will not allow the masses to have enough money not to want to do mass shootings.
OK, that was a bit harsh. Yet we cannot deny that supporting Fed policies that keep the poor poor, eviscerate the middle class, both at the enrichment of like 200 people, well, that's a recipe for total disaster.
It is true that the Fed is private, and that they represent, really, private interests. As The People, our only hope is the proper Fed chair who will work against that flurshinger trickle down economics myth. Share the wealth via proper policy. Everyone will be happy. Even Musk.