The U.S. is More Greek than Greece (tags)
Deficit economies were organized mainly by finance capital. The expansion of this credit-financed mass demand went along with the expansion of the financial sector. Trillions of dollars and Euros were pumped in the stabilization of financial markets.
Ending The Good Times - Exporting America’s High-Wage Jobs (tags)
The growing ability of U.S. employers to substitute cheaper foreign labor for U.S. labor is putting pressure on U.S. wages and salaries. On April 26 the New York Times reported that the real earnings of those in the top ten percent fell 1.4% over the last year. The real weekly pay for the median worker fell 1.5 percent.