Wall Street has had such a great year that some firms are warning their employees not to be too lavish in their spending of Bonus money. This is bonus money that ranges from a million dollars to sixty million or more. There are not enough Ferraris and $20 million properties in New York to meet the demand. The poor suckers who are only raking in a million bucks or a little more in bonus money are putting it in savings. The poor bastards could lose their jobs and be virtually destitute next year. My god, they might have to drive American cars.

I didn’t like, but could live with, this stuff in the late 90s. Our government was on track to run surplusses. It looked like we might have the money to start reinvesting in our own people and infrastructure. Real wages were going up and it wasn’t just college educated white people that were benefitting. I can’t stand this kind of shit when the rest of us are losing ground again. This really makes me think that the rich have permanently circumvented any kind of democratic accountability via their control of the media and massive funding of right wing think tanks, etc over the last generation. There’s no mass movement to curtail this stuff. The average worker seems to be so afraid of the mobility of capital across international boundaries that the idea of doing something about the rich isn’t even legitimate in most people’s eyes anymore.

This entry was posted on Monday, December 25th, 2006 at 5:47 pm and is filed under blog, economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.