ThePoliticalCat

A Blog devoted to progressive politics, environmental issues, LGBT issues, social justice, workers' rights, womens' rights, and, most importantly, Cats.

Friday, August 17, 2007

Politics - The Shaky Economy


No surprise there. Raw Story reports that the Feds have just cut the interest rate:
The Fed said it had lowered the rate it levies on loans to banks by 50 basis points to 5.75 percent, citing "increased uncertainty" in the financial markets.

"Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward," the Fed cautioned in a statement.
What economic growth? For people on the minimum wage, growth has been frozen for about a decade. For the working masses, we've watched our wages stagnate even as our colleagues are laid off in droves and we are exhorted to work ever harder and do the work of the two, three, four, five who are now looking for work and writing us depressed emails. As we watch the CEOs pocket even more money for "trimming" the workforce, and making the company "lean" and running it into the ground and earning huge bonuses on top of their obscenely enormous salaries for the privilege.

The price of basic necessities is going up every week, gas is more expensive, milk is more expensive, tolls are raised, water is rationed, school costs more, and the crooks and thugs who presided over this mess are drinking $10,000 martinis with real diamonds in them.

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