Will the Fed Kill the Recovery Again?

I would think that Wall Street’s response to better unemployment numbers would be a red flag to most and that it would be one of the dominant stories of the recovery and yet it isn’t; that very fact, in and of itself. should be a mark of shame for our mainstream news media. Why aren’t we talking about how Wall Street consistently bets against the average worker and that they do it blatantly without remorse, perhaps because they know that it will not be covered and no one will put two and two together, no one of consequence anyway. It is also of interest to note that it is not often discussed that the Fed has two mandates; one for inflation and the other for full employment and in the past six years we have not seen much movement from the Fed in terms of doing anything for full employment. If it weren’t for the progressive news journals that I spend a lot of time reading, I would not understand just how little the recovery has reached the 99% and more importantly how incomplete the actual unemployment picture is regarding the real world economic prospects of the average worker. The diminished power of unions has made  wages and employment an impossible battle to win for the individual worker, because even if demand has increased, the job market is still an employer’s market because there is no longer worker solidarity in the private market, just take a look at the economic landscape of the Right to Work states, 25 of them so far with Wisconsin becoming the 26th soon, the middle class in those states isn’t what it used to be before unions took the trouncing that it has taken since the 1980’s.  The Fed has done the average worker a huge disservice by closing its eyes to the unfair business practices of corporate America and  the Republican Party in weakening the labor/management balance of power and you would think that for all of their experts, that they would understand that a consumer society can only function well when the consumer/labor part of the equation is left with substantial bargaining power to be a viable force within the economy. How can any expert be worth their salt if they fail to recognize that the consumer and the producer is one and the same? Our corporations and the 1% overall have become the takers or the parasites, leaching all of our hard work and strides in productivity and failing to contribute in their turn, tragically for us, no one is being called to the mat for their parasitic behavior or if they are, they aren’t of any real consequence, as in who can actually effect change. That has to be turned around and for that we need more progressive legislators in office pure and simple.

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