It’s so fucking upsetting that we live in a system where messing with growth means that millions will lose their livelihoods and their homes and their jobs. We are about to have a significant recession with so many jobs being cut because the rich can’t take their magic line going down.
Last year, during inflation, these corporation were seeing record profits and were seeing their stock line surge like never before. What did corporations do when they had profits while we were struggling to pay for higher prices? They awarded 100% of that money to their shareholders and executives. Workers got barely anything if anything at all. But now that profits are going in free fall, you want to know who will bare the brunt of the blow? Workers. Who got nothing from record high profits. These corporations at the first sign of trouble will lay off as many workers as possible and those layoffs will boost the stock price, making the already rich men who sold their stock the night before the earnings calls at a significant profit richer because the layoff will send the stock back up making these men more money. Meanwhile, the laid off worker will have to navigate an unemployment system that is actively hostile and will get absolutely no help. The laid off worker will lose their health insurance and if they don’t having savings (most don’t because they were so underpaid), their home or car or both. All the jobs that will be available will be few and pay minimum wage and have longer hours. While millions lose everything and lose a lifestyle that they will never get back, just like many did back in 2008, these men who got so much richer during inflation and COVID will get even richer.
We seriously can’t keep going down this path. Something needs to be done and done now.