Leo W. Gerard

President’s Perspective

Leo W. Gerard USW International President

Retailers, Bankers and Democrats Agree

Retailers, Bankers and Democrats Agree

Income inequality is killing the economy. Retailers, bankers and Democrats agree on that. Really.

It’s only Republicans who continue to insist that income inequality is great, so no one, least of all them, should make any effort to constrict the abyss between America’s struggling 99 percent and Americans who indulge themselves in $475,000 bottles of House of Creed Bespoke perfume

Now that Wall Street and Main Street have endorsed Democratic economic principals to reduce inequality for the sake of the economy, voting Nov. 4 is easy. Vote Democrat. That’s the party both bankers and retailers say has the solution to economic revival. 

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Investment In Infrastructure Would Cure Today’s Slow Growth Problem

Dave Johnson

Dave Johnson Fellow, Campaign for America's Future

Investment In Infrastructure Would Cure Today’s Slow Growth Problem

What’s going on with the stock market? Here’s one piece of it. The International Monetary Fund (IMF) issued its World Economic Outlook last week, titled “Global Growth Disappoints, Pace of Recovery Uneven and Country-Specific.” The title gives away the IMF’s economic forecast: disappointment, slowdown and uneven recovery.

To address this, the IMF called for “an increase in public infrastructure investment,” particularly in the U.S. and Germany, saying this “could provide a boost to demand in the short term and help raise potential output in the medium term.”

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Companies Warn That Income Inequality Is Hurting Their Business

Alan Pyke

Alan Pyke Deputy Economic Policy Editor, Think Progress

Companies Warn That Income Inequality Is Hurting Their Business

After decades as the dominant economic theory in American politics, trickle-down economics is starting to lose its grip on the debate. For evidence of that slippage, look no further than the business community’s own communications with investors.

Two thirds of the largest retail companies in the country say falling incomes for their customers threaten their business, according to an analysis of corporate filings by economists at the Center for American Progress (CAP). That is double the proportion that cited slack earnings for the masses among their business risks in 2006. And seven out of every eight major American retail companies “cite weak consumer spending as a risk factor to their stock price,” the authors write.

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Vote on Nov. 4!

Vote on Nov. 4!

Union Matters

Ditching ALEC

Recently, tech companies like Facebook and Google dropped their support of the American Legislative Exchange Council or ALEC.

ALEC is a group, supported and funded by big business, that champions right-wing legislation at the state and national levels.  One executive described how ALEC carries out its mission.  "They're just literally lying" about the realities of climate change, he said.

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