It's the RepubliCONs and Wall Street vs. Main Street

UPDATE II:  "Huzzah! Hang the celebratory banners! Unleash the confetti! Happy days are here again. The Dow Jones industrial average closed yesterday [March 5, 2013] at 14,253.77! . .

But since the initial Obama stimulus has tapered off, and the banks strengthened, the throw-it-all-at-the-wall strategy has given way to a world where Congress sits on its hands and avoids anything that gives off a whiff of being 'stimulus' (even Democrats avoid the term). And the Fed has been the only game in town, trying to spur growth through a series of unconventional steps."

Read the Washington Post, The stock market is back, but the economy isn’t. Blame Congress. 

UPDATE:  It's been "a golden age for corporate profits, especially among multinational giants that are also benefiting from faster growth in emerging economies like China and India. . .

Corporate earnings have risen at an annualized rate of 20.1 percent since the end of 2008, he said, but disposable income inched ahead by 1.4 percent annually over the same period, after adjusting for inflation."

Read The New York Times, Recovery in U.S. Is Lifting Profits, but Not Adding Jobs.

"Here are two things that are true about the economy today.

(1) The Dow Jones industrial average is poised to set a new record as corporate profits stretch to all-time highs.

(2) There are still fewer working Americans today than there were before the start of the Great Recession.

The fact that these two things can be true at the same time might outrage you. But it shouldn't surprise you. In the last 30 years, there has been a great divergence between growth and workers' incomes, as the New York Times reminds us today. Corporate profits have soared, in the last decade especially, particularly because of three things: Globalization has pushed down the cost of labor available to multinational corporations; technology has allowed companies to make more with fewer workers, in general; and Big Finance has gobbled up the economy, as the banks' share of total corporate profits has tripled to about one-third since the middle of the last century."

Read The Atlantic, Corporate Profits Are Eating the Economy, which includes these graphs:

(Remember that bailout, Wall Street say thanks suckers!)

Now do you understand the unholy alliance of the Republi-cons and their corporate overlords
in their war on the middle class?