News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Hidden in the soil of Illinois and Iowa, a new generation of insect larvae appears to be munching happily on the roots of genetically engineered corn, according to scientists. It's bad news for corn farmers, who paid extra money for this line of corn, counting on the power of its inserted genes to kill those pests. It's also bad news for the biotech company Monsanto, which inserted the larvae-killing gene in the first place. In fact, the gene's apparent failure ... may be the most serious threat to a genetically modified crop in the U.S. since farmers first started growing them 15 years ago. The economic impact could be "huge," says the University of Arizona's Bruce Tabashnik, one of the country's top experts on the adaptation of insects to genetically engineered crops. Billions of dollars are at stake. The scientists who called for caution now are saying "I told you so," because there are signs that a new strain of resistant rootworms is emerging. In eastern Iowa, northwestern Illinois, and parts of Minnesota and Nebraska, rows of Bt corn have toppled over, their roots eaten by rootworms. Entomologist Aaron Gassmann at Iowa State University, who authored the [new] paper, collected insects from some of these fields and found many with a greater-than-expected ability to tolerate Bt. The EPA is now recommending that ... farmers in areas where such damage has been observed to stop planting this kind of Bt corn altogether. Instead, those farmers will have to use other methods, such as spraying chemical insecticides, to control the rootworm.
Note: For more on the destructive impacts of GMO crop technology, see the deeply revealing reports from reliable major media sources available here.
The Reporters Committee on Freedom of the Press says the U.S. Bureau of Land Management is using safety concerns as an excuse to limit media access to wild horse roundups across the West in violation of the First Amendment. The National Press Photographers Association and more than a dozen newspaper companies joined the committee in a friend-of-the-court brief filed in the 9th Circuit U.S. Court of Appeals late Monday to back an advocacy group waging a series of legal battles over mustang roundups in Nevada. Horseback Magazine photographer Laura Leigh and others "have a right to see what happens" during the roundups, the media groups said, urging the court to be "highly skeptical of assertions by the BLM that restrictions placed on media access were done for administrative convenience and/or to satisfy safety concerns." The 9th Circuit sent the case brought by Leigh’s advocacy group, Wild Horse Education, back to U.S. Judge Larry Hicks in Reno last year to determine if the BLM limits are constitutional. Hicks ruled in 2011 that a balancing of the interests of the agency and public access to a roundup in Nevada didn’t warrant granting an injunction to block the gathers. But a three-judge panel of the appellate court ruled he failed to determine whether those restrictions violated First Amendment protections. "When the government announces it is excluding the press for reasons such as administrative convenience, preservation of evidence, or protection of reporters’ safety, its real motive may be to prevent the gathering of information about government abuses or incompetence," Appellate Judge Milan Smith Jr. wrote in the 18-page opinion in February 2012.
Note: For more on the disturbing decision to round up the few remaining wild horses, click here.
Unmanned aerial vehicles, or UAVs, are in the news constantly, but what about unmanned underwater vehicles? They could also be important in both war and peace, which is why the Defense Department's research arm, DARPA, is looking into a mobile submarine base from which to launch drones. The project, still in the earliest stages, is called "Hydra," after the mythical beast whose heads multiplied upon being cut off. The idea is to create a sort of underwater version of an aircraft carrier. The Hydra, itself an unmanned underwater vehicle, would be stocked with drones of various kinds and capacities: circling overhead, scouting underwater for mines, or listening on the surface.
Note: For more on the US military and police use of drones both abroad and in the US, see the deeply revealing reports from reliable major media sources available here.
At age 28, Scott Harrison felt he had spent a decade of his life selfishly. For 10 years he had been promoting nightclubs and wanted to give back to the world. So he volunteered with a group that exposed him to poverty and disease around the globe. Most afflictions, he found, started with water. "We would see people drinking from swamps and ponds and rivers, sources so unthinkable," said Harrison, now 38. "It seemed simple to attack the root cause by giving people clean water." He founded Charity: water in New York to tackle the world's water crisis after returning from a volunteer trip to Liberia in 2006. So far Charity: water has spent more than $55 million on more than 9,000 water projects in 20 countries, including Ethiopia, Rwanda and Malawi. Harrison recruits people to start their own fundraisers, and all of the money raised goes directly to the cause. Overhead costs are covered by "the well," which is made up of 100 donors who pledge anywhere from $24,000 to $2 million for three years. Well donors are largely Silicon Valley tech titans, like ... Matt Mullenweg, founder of Automattic, the San Francisco Web development platform behind Wordpress. "I've seen a lot of nonprofits and charities, and Charity: water continues to strike me as the most effective," Mullenweg said. "A dollar spent there goes a lot farther than anywhere else." Mullenweg has traveled to Ethiopia with Harrison twice since becoming a donor to "the well." "Every day was a rush of emotions and experiences," Mullenweg said. "We visited villages that didn't have wells yet and then those that did and it was night and day."
Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.
To the startups behind a series of new phone and tablet apps designed to make you smile, happiness is big business. Happier Inc ... launched a phone app in February encouraging users to reflect upon and share pleasant everyday moments. Built around the theory that writing down a nice thought is good for you and that positivity is contagious, the app is about helping consumers take stock of what's good in their life now and to treasure it, says [founder Nataly Kogan]. In the process, she is hoping to prove the technology haters wrong and remedy the negativity on social networks. "On Facebook, we're all bragging," she says. We present the best versions of ourselves and then our friends compare the real versions of their lives to our best versions, and that is depressing." Happier is not alone however. An array of other apps such as Mappiness, Happy Apps and Live Happy have come onto the market in the last couple of years, variously promising to track, share or enact moments of joy. John C Havens, author and founder of non-profit, H(app)athon Project, which uses mobile data to provide recommendations for volunteerism in the local community, suggests digital tools designed to measure contentment redress an imbalance in society where economic data is too often prioritised over social data. "There is real joy in discovery and introspection and reflection, which is something that we lack in modern society where we are so obsessed with productivity," he says. "If you allow yourself on a personal level, that self-reflection, as aided by these technologies, the hope is that you will discover areas of your life you have not been giving credit to."
Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.
Nataly Kogan understands the pursuit of happiness -- in her younger years, she lived for it. As a Jewish refugee from Soviet Russia, Kogan escaped her native country at the age of 13 with a handful of suitcases and $600 in cash for her entire family of four. Jumping between refugee camps across Europe, Kogan finally made it to the United States where her pursuit of happiness really took off. She graduated top of her class from Wesleyan University. She worked at McKinsey & Company, then at Microsoft. She got married and had a daughter. On paper, Kogan had achieved the American Dream. But still, she wasn't happy. Kogan is the CEO and Chief Happiness Officer of startup Happier. The secret, she says, is understanding that you can't actually be happy, but you can always be happier. That's the message conveyed with her new app, Happier, which she describes as an "emotional bookshelf in your pocket." Users upload anything that makes them happy, from posts chronicling their small daily success stories ("I got a great parking spot!") to photos of their favorite foods or places. Anytime you need a pick-me-up, simply open your Happier app and enjoy all of the happy moments posted by your friends. Since its launch in February, users have shared over one million happy moments, says Kogan. With a $2.4 million seed round under her belt from investors like Venrock and Resolute.vc, Kogan's march toward making the world a happier place is well underway. "Life is made of moments," she says. "Choose to create and collect the happy ones."
Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.
It was the om heard ’round the world. Yesterday in 108 cities—from London to Los Angeles, Hong Kong to Houston, Barcelona to Birmingham, and more—“MedMob” groups participated in large-scale displays of meditation. Playing off of the flash mob concept, in which strangers organize online, arrange to meet at a specific time and place, and then perform an unexpected public act, MedMob members delight in presenting meditation in a surprising, inclusive way, says Shambhala Sun. MedMob’s goals: 1. To create an environment for people from all walks of life to come together in meditation. 2. To expose the world to meditation through public display of meditation. 3. To come together as a global community to send positive intentions out into the world. 4. To show that leading by example is the best way to lead. Simple acts can stimulate major paradigm shifts in thinking. The MedMob movement, which began in Austin early this year, is for everyone, reports David Telfer McConaghay for elephant journal. Telfer assures us that passers-by do not need to believe in “hippy-dippy feel-goodery” to participate in meditation, whether in a group or alone. “The goal is not to attain some state of illusory bliss, then wander around all day in a disconnected daze with a silly grin,” he writes. “The goal (if meditation can be said to have a goal) is to allow the naturally arising chaos and distractions of the mind to settle and fade so that we can act and make choices with greater intention and clarity.”
Note: For more on this inspiring movement, see http://www.medmob.org. For a treasure trove of great news articles which will inspire you to make a difference, click here.
The Japanese government and TEPCO were scrambling to reassure people [on Sep. 13] that they have a lid on Fukushima after a senior utility executive said the nuclear plant was "not under control". The remarks by Kazuhiko Yamashita, who holds the executive-level title of "fellow" at Tokyo Electric Power, seem to flatly contradict assurances Prime Minister Shinzo Abe gave Olympic chiefs a week earlier. In a meeting with members of the opposition Democratic Party of Japan, Yamashita was asked whether he agreed that "the situation is under control" as Abe had declared at the International Olympic Committee meeting in Buenos Aires. He responded by saying, "I think the current situation is that it is not under control," according to major media, including national broadcaster NHK. News of his comment prompted a rush by the government and TEPCO to elaborate on Yamashita's remark, saying he was talking specifically about the plant's waste water problem, and not the facility's situation in general. TEPCO has poured thousands of tonnes of water on the Fukushima reactors to tame meltdowns sparked by the March 2011 earthquake and tsunami. The utility says they are now stable but need to be kept cool to prevent them running out of control again. Much of that now-contaminated water is being stored in temporary tanks at the plant, and TEPCO has so far revealed no clear plan for it. The problem has been worsened by leaks in some of those tanks that are believed to have seeped into groundwater, which runs out to sea.
Note: For an excellent ABC News article titled "A Never-Ending Disaster at Fukushima," click here. For more on the grave environmental impacts of nuclear power, see the deeply revealing reports from reliable major media sources available here.
As the world marks the twelfth year since the September 11, 2001 terror attacks, a campaign called the ReThink911 Coalition is drawing attention to one of the lesser-known events of that day–the collapse of World Trade Center Building 7. Prior to the Sept. 11 attacks, 7 World Trade Center was a 47-story building just north of the Twin Towers. At 5:21 pm, nearly seven hours after the North Tower came down, 7 World Trade Center crumbled quickly to the ground. In 2006, Richard Gage, a San Francisco-based architect, founded Architects and Engineers for 9/11 Truth, which doubts Building 7 collapsed because of fire. Gage and other architects and engineers argue that 7 World Trade Center came down in a free fall, which could only have been caused by a deliberate demolition explosion. More than 2,000 architects and engineers have signed a petition calling for a new investigation into the building’s collapse. [Architects and Engineers for 9/11 Truth] makes up large part of the ReThink911 coalition, which spent $44,000 to put [a 54-foot] billboard in Times Square at the heart of midtown Manhattan this week. The group says it raised $225,000 from more than 2,000 donors, the majority of whom gave contributions of less than $100. They’re using the money to put up signs and billboards in seven American cities. They will be advertising in Vancouver, Toronto, London and Sydney too.
Note: For more on the reasons to believe the official account of 9/11 is false, see the many questions raised by highly respected professors and former government officials available here and here.
As the 12th anniversary of the 9/11 attacks approaches, 12 former CIA, FBI, NSA, and US military officials -- including Time Magazine's 2002 person of the year, Colleen Rowley, and former CIA analyst Ray McGovern, who provided the daily brief for three presidents -- say in an open letter to President Obama that the charge that President Assad used chemical weapons on August 21st is based on false intelligence. If this charge is false, and leads to war in Syria, it would not be the first time US leaders have misled their public into going to war. Robert McNamara, Secretary of Defense during the Vietnam War, admitted in 2003 that America went to war in Vietnam on the false intelligence that North Vietnam had attacked a US destroyer in the Gulf of Tonkin. The 9/11 Consensus Panel was formed to deal with another notorious fraudulent pretext for war, the attacks of September 11, 2001, that triggered the "war on terror" and the ongoing military actions in the Middle East. [The] Panel was formed in 2011 to show the public [that] 9/11 was a false flag operation. [It] has thus far produced 37 Consensus Points refuting the official story, five of which are released today. The National Institute of Standards and Technology's report on the collapse of World Trade Center 7 failed [to] produce a [video] simulation replicating the instant straight-down collapse of this 47-story steel-framed skyscraper. The official accounts of telephone calls from the airliners, and the surveillance camera images of the hijackers, do not withstand close scrutiny. Other [new Points concern] seismic evidence of explosions below the towers, and molten metal running below the debris for weeks afterwards.
Note: For lots more reliable information suggesting a major cover-up around the events of 9/11, click here and here.
There’s been a growing movement led by some architects and engineers to take a second look at the collapse of the New York City skyscrapers in the attacks on September 11th 2001. “Architects and Engineers for 9/11 Truth” focuses primarily on Building 7 of the World Trade Center. Not many people know that a third building fell on 9/11. Tony Szamboti is a mechanical engineer from Blackwood, New Jersey. He says the 47 story skyscraper was not hit by a plane…yet collapsed into its own footprint at 5:20 in the afternoon. “It’s in absolute freefall. There’s no resistance to it for the first 2.25 seconds and then it slows down a little bit,” Szambotti said. “The actual measurements are somewhere around 6.6 to 7 seconds for that 610 foot building to collapse completely to the ground.” Szamboti and some 2,000 [of] his colleagues contend that it was not scientifically possible for an office fire to be hot enough to melt steel girders and columns. Which brings these highly educated, white-collar professionals to a disturbing conclusion. “We believe there were pre-planted charges in the building.” The group doesn’t speculate as to who may have planted charges, but it’s launching a new campaign today to spur a new investigation. “We would like, whoever had access to those buildings to be investigated and that has never been done.” “Rethink 9/11" features a daylong rally beneath a new billboard in Times Square and 11 other cities to drum up support for the investigation.
Note: For more on the reasons to believe the official account of 9/11 is false, see the many questions raised by highly respected professors and former government officials available here and here.
Twelve years after the 9/11 attacks that included three hijacker pilots trained in Venice [FL], the terrorists' alleged interaction with a high-echelon Saudi family that lived in Sarasota remains shrouded in secrecy. But Sunshine law and Freedom of Information Act requests filed by an independent South Florida news organization have chipped away at the FBI's position that information related to the family remain secret. Broward Bulldog editor Dan Christensen and former U.S. Sen. Bob Graham say the documents could shed light on how the locally trained terrorists were managed and supported. Graham, former Florida governor and a co-chair of [the] Congressional body that investigated the attacks, believes the FBI has covered up Saudi support of the terrorists. The former senator wants more disclosure about what happened in Sarasota because he feels it may add to a bigger, largely censored subject: Who financed and supported the 9/11 terror attacks? "The FBI is aggressively resisting the release of any additional documents," he said. "The question is, why are they doing this? What interest does the FBI have in denying the existence of its own documents? Beyond that, they have thrown a blanket of national security over virtually everything, and why are they doing that for an event that occurred, soon to be, 12 years ago?" At the time of the 9/11 attacks, President George W. Bush was visiting a school in Sarasota. Then came the revelation that three of the hijackers learned to fly at Venice Airport.
Note: For lots more reliable information suggesting a major cover-up around the events of 9/11, click here and here.
The group behind an ad campaign questioning the official explanation of 9/11, which is running on [municipal buses in Ottawa], says its message should be protected as free speech. The group called Architects & Engineers for 9/11 Truth have launched a global ad campaign called "ReThink911," which is running in other cities including New York and Toronto. The campaign takes aim at the U.S. government's explanation that World Trade Centre 7 — the "third tower" — fell as the result of fire. Carleton University student Andres Acero first spotted one of the group's ads aboard an OC Transpo bus earlier this week. A volunteer with a campus first responders group, Acero said he thinks the ads are disrespectful to the first responders who lost their lives during the 9/11 terrorist attack. Transit commission chairwoman Diane Deans agreed, saying while it was a "difficult challenge" to balance the constitutional right to free speech with community acceptability, she thought the ads were "insensitive." Architects & Engineers for 9/11 Truth responded, taking issue with the notion they were being insensitive to run the campaign. They also said their campaign is sponsored by a group representing more than 100 victims' family members. "To Councillor Deans and to all who question our sensitivity and legal right to run the ReThink911 ads, we would like to make clear: the ReThink911 coalition includes 9/11 victims’ family members who want nothing more than an accurate and unbiased accounting of the death of their loved ones," the group said in a letter published on their website.
Note: For more on the reasons to believe the official account of 9/11 is false, see the many questions raised by highly respected professors and former government officials available here and here.
The influential pro-Israel American Israel Public Affairs Committee [AIPAC] will deploy hundreds of activists next week to win support in Congress for military action in Syria, amid an intense White House effort to convince wavering U.S. lawmakers to vote for limited strikes. Congressional aides said they expected the meetings and calls on Tuesday, as President Barack Obama and officials from his administration make their case for missile strikes over the apparent use of chemical weapons by Syrian President Bashar al-Assad's government. The vote on action in Syria is a significant political test for Obama and a major push by AIPAC, considered one of the most powerful lobbying groups in Washington, could provide a boost. The U.S. Senate is due to vote on a resolution to authorize the use of military force as early as Wednesday. Leaders of the House of Representatives have not yet said when they would vote, beyond saying consideration of an authorization is "possible" sometime this week. Obama has asked Congress to approve strikes against Assad's government in response to a chemical weapons attack on August 21 that killed more than 1,400 Syrians. Pro-Israel groups had largely kept a low profile on Syria as the Obama administration sought to build its case for limited strikes after last month's attack on rebel-held areas outside Damascus. But they had generally wanted the debate to focus on U.S. national security rather than how a decision to attack Syria might help Israel, a reflection of their sensitivity to being seen as rooting for the United States to go to war.
Note: For more on government corruption, see the deeply revealing reports from reliable major media sources available here.
The National Security Agency routinely shares raw intelligence data with Israel without first sifting it to remove information about US citizens, a top-secret document provided to the Guardian by whistleblower Edward Snowden reveals. Details of the intelligence-sharing agreement are laid out in a memorandum of understanding between the NSA and its Israeli counterpart that shows the US government handed over intercepted communications likely to contain phone calls and emails of American citizens. The agreement places no legally binding limits on the use of the data by the Israelis. The disclosure that the NSA agreed to provide raw intelligence data to a foreign country contrasts with assurances from the Obama administration that there are rigorous safeguards to protect the privacy of US citizens caught in the dragnet. The five-page memorandum, termed an agreement between the US and Israeli intelligence agencies "pertaining to the protection of US persons", repeatedly stresses the constitutional rights of Americans to privacy and the need for Israeli intelligence staff to respect these rights. But this is undermined by the disclosure that Israel is allowed to receive "raw Sigint" – signal intelligence. The memorandum says: "Raw Sigint includes, but is not limited to, unevaluated and [unredacted] transcripts, gists, facsimiles, telex, voice and Digital Network Intelligence metadata and content." According to the agreement, the intelligence being shared would not be filtered in advance by NSA analysts to remove US communications.
Note: For more on the realities of intelligence agency operations, see the deeply revealing reports from reliable major media sources available here.
America's National Security Agency may hold crucial evidence about one of the greatest unsolved mysteries of the Cold War — the cause of the 1961 plane crash which killed United Nations Secretary-General Dag Hammarskjold, a commission of prominent jurists says. Widely considered the U.N.'s most effective chief, Hammarskjold died as he was attempting to bring peace to the newly independent Congo. It's long been rumored that his DC-6 plane was shot down, and an independent commission set up to evaluate new evidence surrounding his death on [September 9] recommended a fresh investigation — citing radio intercepts held by the NSA as the possible key to solving the case. Hammerskjold's aircraft went down on the night of Sept. 17, 1961, smashing into a forested area just short of Ndola Airport in modern-day Zambia. A host of hard-to-answer questions about the crash have led to a glut of conspiracy theories. Among them: Why did it take 15 hours to find the wreckage, just a few miles from the airport? Why did Hammarskjold's bodyguard, who survived the crash for a few days, say that the plane "blew up"? Why did witnesses report seeing sparks, flashes, or even another plane? Hammarskjold was flying into a war zone infested with mercenaries and riven by Cold War tension. Foreign multinationals coveted [Congo's] vast mineral wealth and the country was challenged by a Western-backed insurgency in Katanga, which hosted mining interests belonging to United States, Britain, and Belgium.
Note: For more on government secrecy, see the deeply revealing reports from reliable major media sources available here.
Over decades and diverse administrations, justifications for the use of force - limited and full scale - have constantly revolved around weapons of mass destruction. Protection against them, real and imaginary, has served [as] justification for government excess and a curtailment of our freedoms. We stop everything because it is WMD and we fret about the consequences of both action and inaction because it is WMD. We do so because of a little known and little understood entity that truly drives American national security practices: It's called the Program. Founded in the darkest days of nuclear threat during the Eisenhower administration, the Program began as a limited system given responsibility for survival of the government. The nuclear arms race ended, but the Program never completely went away. And since 9/11, like everything else about national security, its mission and focus have expanded. The Program exists through a system of sealed envelopes - four dozen formal Presidential Emergency Action Documents more secret than anything that has been revealed about the National Security Agency of late, arrangements that instruct a surviving entity of what to do if a nation-destroying calamity befalls Washington or the United States. Because Doomsday is now thought by the experts in government to be any day, and because the potential battlefield is anyplace and every place, the work of the Program, and its power, have dramatically expanded. A survival apparatus operates behind the scenes as if survival is perpetually and instantly at stake.
Note: The author of this analysis, William M. Arkin, has written American Coup: How a Terrified Government is Destroying the Constitution, and is co-author of the best-selling book and newspaper series Top Secret America: The Rise of the New American Security State.
This week marks the fifth anniversary of the collapse of Lehman Bros., heralding the Great Recession. The better off are better off than ever. Most of the rest are right where they started, or worse. For example, earnings of the top 1 percent (those families making more than $394,000 a year) commanded 95 percent of the income gains generated between 2009 and 2012. Their earnings grew by 31 percent in the period, compared with 0.4 percent for the less fortunate. That's according to a study published last week by UC Berkeley economist Emmanuel Saez, whose finding in 2011 that income inequality in the United States is the widest since 1928 was highly publicized. In fact, according to the latest study by Saez, whose numbers are drawn from IRS data, America's top 10 percent (those households earning above $114,000) account for more than half of the nation's total income, the highest percentage since 1917. Despite improvements in the economy, "it seems unlikely that U.S. income concentration will fall much in the coming years," Saez concludes. Or it could intensify. Factoring in inflation, median household income ($52,000) has actually fallen by 4.4 percent since June 2009, according to Sentier Research, a Maryland consultancy, in a report last week based on government statistics. Then there's the Federal Reserve, which reported that American families have recovered just 45 percent of the $16 trillion in wealth that went down the tubes in the recession. And most of the recovery has gone to the wealthy, whose income bounced back largely thanks to the recovery of the stock market, according to an analysis by the Federal Reserve Bank of St. Louis in May.
Note: To read the UC Berkeley report on extreme income disparities, click here. For more on income inequality, see the deeply revealing reports from reliable major media sources available here.
The top 10 percent of earners took more than half of the country’s total income in 2012, the highest level recorded since the government began collecting the relevant data a century ago, according to an updated study by the prominent economists Emmanuel Saez and Thomas Piketty. The top 1 percent took more than one-fifth of the income earned by Americans, one of the highest levels on record since 1913. The figures underscore that even after the recession the country remains in a new Gilded Age, with income as concentrated as it was in the years that preceded the Depression of the 1930s, if not more so. High stock prices, rising home values and surging corporate profits have buoyed [the] incomes of the most affluent Americans, with the incomes of the rest still weighed down by high unemployment and stagnant wages for many blue- and white-collar workers. “These results suggest the Great Recession has only depressed top income shares temporarily and will not undo any of the dramatic increase in top income shares that has taken place since the 1970s,” Mr. Saez, an economist at the University of California, Berkeley, wrote. The income share of the top 1 percent of earners in 2012 [jumped] to about 22.5 percent in 2012 from 19.7 percent in 2011. The economy remains depressed for most wage-earning families. With sustained, relatively high rates of unemployment, businesses are under no pressure to raise their employees’ incomes because both workers and employers know that many people without jobs would be willing to work for less. The share of Americans working or looking for work is at its lowest in 35 years.
Note: To read the UC Berkeley report on extreme income disparities, click here. For more on income inequality, see the deeply revealing reports from reliable major media sources available here.
Back in 1914, Henry Ford announced he was paying workers on his Model T assembly line $5 a day -- three times what the typical factory employee earned at the time. The Wall Street Journal termed his action "an economic crime." But Ford knew it was a cunning business move. The higher wage turned Ford's auto workers into customers who could afford to buy Model Ts. In two years, Ford's profits more than doubled. Yet in the years leading up to the Great Crash of 1929 [the] wages of most American workers stagnated even as the economy surged. Gains went mainly into corporate profits and into the pockets of the very rich. American families maintained their standard of living by going deeper into debt, and the rich gambled with their gigantic winnings. In 1929, the debt bubble popped. The same thing happened in the years leading up to the crash of 2008. The lesson should be obvious. When the economy becomes too lopsided -- disproportionately benefiting corporate owners and top executives rather than average workers -- it tips over. It's still lopsided. We're slowly emerging from the depths of the worst downturn since the Great Depression, but nothing fundamentally has changed. Corporate profits are up largely because payrolls are down. Even Ford Motor Company is now paying its new hires half what it paid new employees a few years ago. All over the American economy, employee pay is now down to the smallest share of the economy since the government began collecting wage and salary data 60 years ago. And corporate profits constitute the largest share of the economy since then.
Note: The author of this analysis, Robert Reich, is former U.S. Secretary of Labor, a professor of public policy at the University of California at Berkeley, and the author of Aftershock: The Next Economy and America's Future. He blogs at http://www.robertreich.org. For more on income inequality, see the deeply revealing reports from reliable major media sources available here.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.