When I reviewed the stats on visitors to this blog I found that the most popular post is an open letter to cheerleaders of the US Constitution. In it I point out the similarities between legal Slavery and legal Corporate Charters.Both slavery and corporations allow the accumulation of wealth by an individual or small group. Both have damaging effects on the fabric of a democracy. In the long run, both ills will have been resolved by amending the US Constitution.
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Corporate America Reports Record Profits
New government data show U.S. corporations made record profits in the third quarter, earning at an annual rate of more than $1.6 trillion. That’s the highest figure since the government began keeping track 60 years ago. Overall corporate earnings are up 28 percent from the same time last year. Companies, however, have not been using the record profits to hire more workers. The Federal Reserve is predicting that the nation’s official unemployment rate will remain over 9 percent for at least another year. - DemocracyNow! November 24, 2010.
No recession for "corporate persons," but a vast number of real people are experiencing an economic depression. Corporations are tools of wealth accumulation, which have become so effective that there's little wealth left over for the rest of us. I always think of an hour glass with all the sand accumulated in one side... it needs to be up-ended.
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