Tag Archives: hollowed

Corporate Profits at All-Time High; Wages at All-Time Low: Can We Call it Class War Yet?

By Sarah Jaffe

The middle class is being hollowed out; increasingly, there are the super-super-rich, and there are the rest of us.

This week, David Segal at the New York Times broke the news to America that not only was Apple — the computer and gadget manufacturer formerly seen as a symbol of good old American ingenuity — making its profits on the backs of abused factory workers in China, but also on poorly paid store employees here in the US.

Apple store workers, he wrote, make up a large majority of Apple’s US workforce—30,000 out of 43,000 employees in this country—and they make about $25,000 a year, or about $12 an hour.

Lawrence Mishel at the Economic Policy Institute notes that that’s just a dollar above the federal poverty level. This for a company that paid nine of its top executives a total of $441 million in 2011. ….

Read more » Alternet

http://www.alternet.org/story/156042/corporate_profits_at_all-time_high%3B_wages_at_all-time_low%3A_can_we_call_it_class_war_yet?page=entire#disqus_thread

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If there is a birthday present Pakistanis and Indians can jointly give Manto, it is to admit the reality of the problems he spelt out in his writings on partition

Curator of a hollowed conscience

By: Ayesha Jalal

Saadat Hasan Manto, whose birth centenary is being celebrated in Pakistan and India today, once remarked that any attempt to fathom the murderous hatred that erupted with such devastating effect at the time of the British retreat from the subcontinent had to begin with an exploration of human nature itself.

Continue reading If there is a birthday present Pakistanis and Indians can jointly give Manto, it is to admit the reality of the problems he spelt out in his writings on partition

Occupy Wall Street (OWS) movement

The Guys in the 1% Brought This On

By Barbara Ehrenreich

Excerpt;

…. So the “99% versus the 1%” theme is beginning to look like an acute class analysis after all, and it’s the guys in the 1% who made it so. Over the years, they have systematically hollowed out the space around them: destroying the industrial working class with the outsourcings and plant closures of the ’80s, turning on white collar managers in the downsizing wave of the ’90s, clearing large swathes of the middle class with the credit schemes of the ’00’s—the trick mortgages and till-death-do-we-part student loans.

In the ’60s we dreamed of uniting people of all races and collar colors into “one big working class.” But it took the billionaires to make it happen.

Read more » The Progressive

Many in Pakistan Fear Unrest at Home

By JANE PERLEZ

ISLAMABAD, Pakistan — Protests over crippling prices and corrupt leadership are sweeping much of the Islamic world, but here in Pakistan this week, the government blithely dismissed any threat to its longevity or to the country’s stability.

Prime Minister Yousaf Raza Gilani insisted that Pakistan was not Egypt or Tunisia. “Our institutions are working and democracy is functional,” he said. The economy, while under pressure, is not in crisis.

But while Mr. Gilani appeared unruffled, diplomats, analysts and other Pakistani officials admitted to unease, and conceded that Pakistan contained many of the same ingredients for revolt found in the Middle East — and then some: an economy hollowed out by bad management and official corruption; rising Islamic religious fervor; and a poisonous resentment of the United States, Pakistan’s biggest financial supporter.

If no one expects Pakistan to be swept by revolution this week, the big question on many minds is how, and when, a critical mass of despair among this nation’s 180 million people and the unifying Islamist ideology might be converted into collective action.

Some diplomats and analysts compare the combustible mixture of religious ideology and economic frustration, overlaid with the distaste for America, to Iran in 1979. Only one thing is missing: a leader.

“What’s lacking is a person or institution to link the economic aspirations of the lower class with the psychological frustration of the committed Islamists,” a Western diplomat said this week. “Our assessment is: this is like Tehran, 1979.”

Mr. Gilani is right in that Pakistan held fairly free elections three years ago, when the democratically based Pakistan Peoples Party, led by President Asif Ali Zardari, won.

But the return to civilian government after a decade of military rule has meant little to the people because politicians have done nothing for voters, said Farrukh Saleem, a risk analyst and columnist in The News, a daily newspaper.

As it has been for all of Pakistan’s more than 60 years of history, Parliament today remains dominated by the families of a favored few, who use their perch to maintain a corrupt patronage system and to protect their own interests as Pakistan’s landed and industrial class. The government takes in little in taxes, and as a result provides little in the way of services to its people.

“Ninety-nine percent of Pakistanis are not affected by the state — it doesn’t deliver anything for them,” Mr. Saleem said. “People are looking for alternatives. So were the Iranians in 1979.”

There is little question that the images from Egypt and Tunisia are reverberating through Pakistani society, and encouraging workers to speak up and vent frustration in ways that were unusual even three months ago.

“There’s no electricity, no gas, no clean water,” said Ali Ahmad, a hotel worker in Lahore who is usually a model of discretion. “I think if things stay the same, people will come out and destroy everything.”

When a young banker in a prestigious job at a foreign bank was asked if Pakistan could go the way of Egypt, he replied, “I hope so.”

At the core of Pakistan’s problem are the wretched economic conditions of day-to-day life for most of the people whose lives are gouged by inflation, fuel shortages and scarcity of work.

They see the rich getting richer, including “the sons of rich, corrupt politicians and their compatriots openly buying Rolls-Royces with their black American Express cards,” said Jahangir Tareen, a reformist politician and successful agricultural businessman.

Food inflation totaled 64 percent in the last three years, according to Sakib Sherani, who resigned recently as the principal economic adviser at the Finance Ministry. The purchasing power of the average wage earner has declined by 20 percent since 2008, he said.

Families are taking children out of school because they cannot afford both fees and food. Others choose between medicine and dinner.

A middle-class customer in a pharmacy in Rawalpindi, the city where the powerful army has its headquarters, told the pharmacist last week to sell him only two pills of a course of 10 antibiotics because he did not have enough money for groceries. …

Read more : The New York Times