Wall St. Rally Masks Deeper Problems

Consortium News, The Real News by Paul Jay, Richard Wolff | Jul. 28, 2009 (News Analysis)

Wolff says the improved corporate balance sheets have resulted more from laying off workers and reducing costs than in selling more products and raising revenues. Workers have been forced to make concessions, but that decreases chances for a healthy recovery, he says. Full Story »

Posted by Dwight Rousu

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4.2
 by Dwight Rousu - Jul. 28, 2009

Profits made by layoffs and cutbacks are seen not to be a healthy recovery. Wolff's observations are interesting, as he sees the current recession from it's view on workers.

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