Profits At High, Wages At Low - Business Insider

Profits At High, Wages At Low - Business Insider

It hasn't dawned on Henry Blodget that the reason corporations are so reluctant to pay more or get rid of their cash is because they are forced to be their own banks. They can't trust the banks to help them if the economy turns down. The banks will just stop lending like before. So this is the problem with the banks, who engage in speculation in commodities futures, stocks and housing, cause bubbles and then pull back on lending. It doesn't have to be this way.

But the laws of the nation encourage speculation by Goldman Sachs and others. In societies that are sound, like Japan, this sort of speculation does not happen as much as it does in the US. The investment banks are the enemies of the people, in my opinion. They force companies to hold back on wages because the investment banks, who have a commercial arm as well, simply cannot be trusted to lend when things go bad. 


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