...If 2017 was ‘the year of the market’, adding 25% to its value; 2018 has been the ‘year of the worker’. The year that money flowed from the corporations into the lives of people. It was the year of in-sourcing, of reinvestment, of repatriation. “In 2018 some 4 million workers got pay bonuses from employers thanks to the Trump tax cut. (…) Pay gains in real terms this year are now estimated at 3 percent (…) The latest jobs report spotlights 7 million more job postings than workers available to fill them.” It has even trickled into the most unlikely of markets, for example “…hiring of ex-convicts is rising rapidly as employers search for ready and able workers. In some instances, employers are so hungry for labor that they wait outside the prisons for the inmates to be released so they can hire them.”Read more here.
...Apropos of that, the Wall Street Journal labeled the greatest loser of 2018 to be the “Liberal International Order”. Of course such an ‘order’, if it existed at all, only did so in the imaginations of America’s new aristocracy who counted on the permanency of their role in the world as the overseers and supervisors of humanity’s interactions. The fall of the “Liberal International Order” is probably better referred to as the “refutation of the ruling class”. Readjustment, because, let’s be honest, those who saw it as their job to manage our world were not doing a very good job. Forever wars, great recessions (economic and democratic) and environmental degradation. Those who brought us the Iran Nuclear Deal and the Paris Climate Accords surely are not those who have the answers to the anarchy that came; if nothing else that is obvious. Ergo the ‘readjustment’.
Monday, January 07, 2019
Will this be called America's "Age of Readjustment?"
Joel D. Hirst writes in his blog,