Unemployment Rate at 14.7% Highest Since Great Depression. Stocks Increase

Today it was reported that the unemployment rate has hit 14.7%, the highest since the Great Depression. As of this writing (about noon), the Dow Jones Industrials has risen almost 400 points. The oligarchs live in a different world from the rest of us and profit from our misfortune.

U.S. companies cut thousands of workers while continuing to reward shareholders during pandemic

Five companies paid a combined $700 million to shareholders while cutting jobs, closing plants. While thousands of their workers are filing for unemployment benefits, these companies rewarded their shareholders with more than $700 million in cash dividends. They are not alone. As the pandemic squeezes big companies, executives are making decisions about who will bear […]

Coronavirus Relief: The U.S. plans to give $500 billion to large companies. It won’t require them to preserve jobs or limit executive pay.

Screw the working class. The Fed’s coronavirus aid program lacks restrictions Congress placed on companies seeking financial help under other programs A Federal Reserve program expected to begin within weeks will provide hundreds of billions in emergency aid to large American corporations without requiring them to save jobs or limit payments to executives and shareholders. […]

Coronavirus Put Her Out of Work, Then Debt Collectors Froze Her Savings Account

Working class wages have been stagnant since the 1970s, as the plutocrats’ share of the national wealth has increased. Instead of paying us increased wages, they lend us money, often at exorbitant interest rates. An example: Late last month, Kim Boatswain sat down at her computer in her southeast Austin home and logged into her […]