Did you know that corporate profits just hit another all-time high? Yeah, I find it hard to believe, too. But it’s true:
Not only that, but CEO profits as a percentage of the economy just hit an all-time high. They’re higher now than they’ve been for the last half-century. Pardon my language, but what the hell?
If the trickle-down effect was a real thing that really helped in a real way, really, that would mean that the workers employed by these CEOs are doing better, too. Right? Wrong.
Yes, you read that correctly. CEO pay is now 350 times that of an average worker. And it has skyrocketed 300% since 1990, while the average worker’s pay has only risen 4%. All numbers adjusted for inflation.
And if you adjust for inflation and take a look at the average worker’s hourly pay, you’ll notice it hasn’t changed at all in the last 50 years.
What does that all mean? Basically, while CEOs and shareholders are living large, the average worker’s pay as a percentage of the economy has dropped to an all-time low.
These are just some of the charts published by Henry Blodget last week. I recommend taking a look at all of them — they are a veritable smorgasbord of information.
