US Corporate Profits Just Hit An All-Time High, Wages Just Hit An All-Time Low

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The above is the title of an article on Business Insider. The evidence comes from highly reputable sources. And the claims are justified. Kust look at the graphs.

But then the reason why we have a crisis is that the wealthiest and companies got too rich whilst most got left behind so the wealthiest and companies lent the rest of us their excess wealth through debt arrangements which people could not repay.

And the trouble is the problem is getting worse, not better.

Which is why Mervyn King is right to say we have a lot more misery to come. Only systemic reform will change that.