Congrats Corporations, You Win!

From David Dayen, "Corporations Show Largest Profits in History Amid Jobs Crisis", an article that exposes some truth:

"Despite record unemployment, and no hope for reductions clearly in sight, corporations have experienced all-time record profits, the highest since the Commerce Department started tracking the figure 60 years ago. They’ve learned to produce as many or more goods without workers.

This is something of a dream for corporate America – bigger profits without those meddling workers to pay. This is the seventh straight quarter of corporate profit growth, with none of those benefits being shared with the working class. “Uncertainty” is blamed for the lack of job growth, but corporations are sitting on giant mounds of cash while they bask in the glow of their strategy to increase their profit margins by cost-cutting.

The other part of this is that multinational corporations are reaping profits from increased consumer spending in China and India. Their markets there have expanded greatly in the past few years.

In the other side of the funhouse mirror, American workers continue to have little hope for returning to the job."

Congrats corporations, you win!