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Hightower Lowdown
"The opposite of courage is not cowardice, it's conformity." -- Jim Hightower
June's Lowdown
One in three Americans are now poor, sapping our nation's social, economic, and moral strength
Poverty in America: Bigger than ever and rapidly spreading. The flood of poor people in this Land of Plenty is being swollen by turbulent economic waters sweeping millions of Americans downstream from the middle class. This is our nation's true economic crisis. Unlike the manufactured "fiscal cliff" hysteria that continues to consume Washington politicos and pundits, the present pace of poverty really is dragging down our economy and our nation's potential for greatness.
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Dow above 1,000! doug down
The record high of the Dow is being hailed not only as a milestone for the rich, but for all of us, with the media reporting deadpan that "everybody" is in the stock market today
Time for a reality check: Six out of ten Americans own no stock at all not through a broker, a mutual fund, a pension . . . nothing. And of those who do own stock, the vast majority have a tidbit that gives them no sense of ownership in the Dow, much less a thrill that the thing is above 10,000. Here's the stock market number that matters: 90% of the value of all stocks is held by the richest 10% of American families.
So how about the Doug Jones Average—how's Doug and Darlene doing? Weekly wages for average workers today are 12% below the wages of workers in 1973. And when a corporation cuts jobs and cuts wages, the stock price of that corporation goes up . . . which raises the Dow Jones Average. So the misfortune of the workaday majority—Doug and Darlene—who are seeing their income go down, is a boost to the fortunes of those at the top.