Re: Golly Gee Beav, the poor are gettin

[dhenwood@xxxxxxxxx (Doug Henwood)]

At 11:11 AM 7/16/96, Jon Flanders wrote:

>  The disparity of wealth will become explosive in the next
>recession-depression when wage cuts and more concessions are demanded of the
>workforce. Right now there is plenty of grumbling, but as long as token wage
>increases get handed out, someone like a rail worker making 30-40 thousand a
>year is unlikely to go to the wall over CEO compensation.

It's worth pointing out that this is the point of the U.S. business cycle
during which things are about as good for the working class as they get.

As I type, the Dow is down 86 points. The stock market is in a rout. Wonder
if this is just a little local storm, or the potentially ugly end to the
great middle-class stock boom?

Doug

--

Doug Henwood
Left Business Observer
250 W 85 St
New York NY 10024-3217
USA
+1-212-874-4020 voice
+1-212-874-3137 fax
email: <dhenwood@xxxxxxxxx>
web: <http://www.panix.com/~dhenwood/LBO_home.html>




     --- from list marxism@xxxxxxxxxxxxxxxxxxxxxxxxxx ---