Monday, January 13, 2014
Fed Chair Supports Workers
Janet Yellen is the new Federal Reserve chair; the first woman to hold this position of the world’s largest economy. She has three major goals as head of the Fed that will help the working wage slaves, but with her 36 years of experience and knowledge of the monetary system she can pull it off. One is to get unemployment down from 7 percent to 5-4 percent, which is in contrast to her predecessor Allen Greenspan, who wanted to keep unemployment at 6 percent, which always favored the money over the workers. Yellen’s number two goal is to get the flat wages up to a living wage with some disposal cash. Her third goal is to get the housing market growing again, which will be a huge boost in jobs, building, and also in needed goods for housing construction, like lumber and appliances. For the workers to have a person in the top position of finance who understands the need of the workers has never happened before. With the push by fast food for $15 an hour, some states, federal government and even a Washington mayor, who wants to raise Seattle’s minimum wage to $15 an hour for his city, are now pushing for a higher minimum wage. It is obvious that the tide is turning in favor of the 99 percent, but it is just like the frontline of a football offensive line, the 99 percent must keep pushing the defense back. It is like a snowball rolling down a hill. If it keeps rolling it will get bigger and bigger. We are just about at the point of all the stars aligning for us workers of the world.