Did that make it the Presidents fault?
No.
The Corporations choose to not hire , and choose to not pay more.
Prime Example:
Walmart
Revenue Increase US$ 476.294 billion (2014)[2]
Operating income Decrease US$ 26.872 billion (2014)[2]
Net income Decrease US$ 16.022 billion (2014)[2]
Total assets Increase US$ 204.751 billion (2014)[2]
Total equity Decrease US$ 81.339 billion (2014)[2]
http://en.wikipedia.org/wiki/Walmart
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Do you see that?
They have $204.751 billion in Total Assets, and $26.872 billion in Operating Income.
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The Wal-Mart Heirs Are Worth More Than Everyone in Your City Combined
October 7, 2014
by Josh Harkinson
Everybody knows that middle-class incomes have stagnated while those of the richest Americans have skyrocketed, but the trend is even more pronounced when you look at the relative fortunes of the super-duper rich. Consider the Wal-Mart heirs: Since 1983, their net worth has increased a staggering 6,700 percent. According to a report released last week by the union-backed Economic Policy Institute, here’s how many American families earning the median income it would have taken to match the Waltons’ wealth in a given year:
In 1983, the Walton family’s net worth was $2.15 billion, equivalent to the net worth of 61,992 average American families, about the population of…[1]
Peoria, Arizona
In 1989, the Walton family’s net worth was $9.42 billion, equivalent to the net worth of 200,434 average American families, about the population of…
Albuquerque, New Mexico
In 1992, the Walton family’s net worth was $23.8 billion, equivalent to the net worth of 536,631 average American families, about the population of…
San Antonio, Texas
In 1998, the Walton family’s net worth was $48 billion, equivalent to the net worth of 796,089 average American families, about the population of…
The State of New Mexico
In 2001, the Walton family’s net worth was $92.8 billion, equivalent to the net worth of 1,077,761 average American families, about the population of…
Chicago, Illinois
In 2010, the Walton family’s net worth was $89.5 billion, equivalent to the net worth of 1,157,827 average American families, about the population of…
The State of Arkansas
In 2013, the Walton family’s net worth was $144.7 billion, equivalent to the net worth of 1,782,020 average American families, about the population of…
The State of Louisiana
(1 Correction: An earlier version of this article confused families with individuals, causing an under-estimate of how many individuals’ net worth would equal that of the Waltons. Population equivalents in this story are based on the size of the average American family: 2.55 individuals.)
sources here:
http://billmoyers.com/2014/10/07/walmart-heirs-worth-everyone-city-combined/
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Why Wal-Mart can afford to give its workers a 50% raise
by Stephen Gandel @stephengandel
November 12, 2013, 3:27 PM EST
The world’s largest retailer is under fire for its low wages. But the numbers show it can easily pay more without tanking its stock.
FORTUNE — When a Wal-Mart executive boasted at a Goldman Sachs investor conference in September that 475,000 of the company’s U.S. store associates make more than $25,000 — meaning that a large portion of its 1.4 million workers in the U.S. make less — a long-simmering debate about the company’s wages boiled over. Last week, a large protest outside a California Wal-Mart store led to 50 arrests.
Fueling the anger, Payscale, a salary information site, estimates that Wal-Mart CEO Mike Duke’s 2012 pay of $23.2 million was 1,034 times more than the company’s average worker. Wal-Mart has called that figure inflated.
So how much should Wal-Mart WMT -0.01% pay its employees? To tackle that tricky question, I crunched a bunch of numbers and concluded this: Wal-Mart’s workers should get a 50% raise.
And get this: The company wouldn’t even have to disappoint Wall Street to pull it off. I’ll explain the math in detail below.
read here:
http://fortune.com/2013/11/12/why-wal-mart-can-afford-to-give-its-workers-a-50-raise/
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OK, now to Market News:
Jobs Report: U.S. Economy Added 214,000 Jobs In October, Unemployment Down To 5.8%
11/07/2014 @ 8:42AM
Friday morning The Bureau of Labor Statistics released a weaker than anticipated October jobs report but made significant positive revisions to its August and September readings. Employers added 214,000 jobs last month compared to the 230,000 or so economists were predicting. The unemployment rate, which is drawn from a different survey of households, ticked down from 5.9% to 5.8% the lowest level since the recession.
The already strong September payroll count was revised higher from plus 248,000 to plus 256,000. The once disappointing August number was also bumped higher from plus 180,000 to plus 203,000. Total employment gains in August and September were therefore 31,000 greater than what BLS — a division of the Department of Labor — previously reported. Average monthly gains for the 12 months leading up to October were 222,000. January is now the only month of 2014 with job gains below 200,000.
“It’s good. It’s consistent solid growth,” noted Rich Thompson, chief human resources officer at staffing firm Adecco Group North America following the report, pointing out that the economy has had 49 months in a row of job gains, the longest stretch since the 1930s. “Anytime you are over 200,000 that is good progress.”
Tara Sinclair, economics professor at George Washington University and economist at job search site Indeed.com, noted the revisions can be seen as positive sign for future employment and the economy at large. “When the economy is growing we tend to underestimate how quickly it’s growing,” she explained. “When we go back and get more data we revise upwards with that new information. The initial numbers that we are getting are in part estimates based on forecasting models following past patterns. If in the recent past we have been underestimating how fast the economy is growing there is evidence to suggest that pattern is going to continue for awhile.”
“This was a solid report that suggests ongoing health in the labor market,” wrote RBS U.S. Chief Economist Michelle Girard in a note on the report, “though no sign yet of a meaningful acceleration in the pace of improvement (however, given the recent strengthening in labor market indicators, we still think some strong numbers are coming). In our view, this data keeps the Fed on track to hike (not sooner, not later) in 2015 (our best guess remains June).” Last month the Federal Reserve ended its long time bond buying program and signaled an improving labor market outlook. The increasingly hawkish tone has led to some debate among Fed watchers on when the central bank will make its next policy move — raising interest rates.
more here:
http://www.forbes.com/sites/samanthasharf/2014/11/07/jobs-report-u-s-economy-added-214000-jobs-in-october-unemployment-down-to-5-8/
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11/07/2014 @ 9:05AM
Gold Sees Modest Boost Following Slightly Downbeat U.S. Jobs Data
(Kitco News) - Gold prices are modestly higher in the immediate aftermath of the much-anticipated U.S. employment report that did not quite meet market expectations. Prices hit a four-year low overnight. Short covering in the gold futures market and bargain hunting in the spot gold market are featured, following the recent strong selling pressure. December Comex gold was last up $4.80 at $1,147.40 an ounce. Spot gold was last quoted up $6.20 at $1,148.00. December Comex silver last traded up $0.057 at $15.47 an ounce.
Arguably the most important U.S. economic data point of the month saw Friday’s October employment report from the Labor Department produce a rise of 214,000 in non-farm payrolls. The key non-farm payrolls number was expected to come in at up around 230,000. The overall U.S. unemployment rate came in a 5.8% versus expectations of unchanged at last month’s 5.9%. The “whisper” in the market place was that the non-farm jobs number would be higher than the consensus forecast.
The dollar index sold off on the jobs report, most of which was just profit taking after hitting a four-year high on Thursday. The greenback weakness also aided the precious metals market bulls Friday morning.
more here:
http://www.forbes.com/sites/kitconews/2014/11/07/gold-sees-modest-boost-following-slightly-downbeat-u-s-jobs-data/
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It's not just government involved in the world problems:
Non-Government Organizations are involved as well.
Am I advocating Socialism by saying that Walmart and other Corporations should pay more?
No.
I'm only pointing out the clear corruption within our market.
Because of this corruption 'the problem', a solution has been presented:
-SpydaT3K
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