Burgess Owens: “Now the problem is we have a kind of elite minority decadent reasoning that takes place. Even though it does not cost…”

“Now the problem is we have a kind of elite minority decadent reasoning that takes place. Even though it does not cost the government one penny, the elite minority reasoning is that you do not want to do anything which might lessen the profits of the people who are making all the money already. The corporations are making tremendous amounts of money. We are in a boom cycle. You got a bull stock market, you know. Why are they watching so closely to see to it that the bottom line should be kept so low? Why are they trying to keep our wages in this country at the same level of the wages in Bangladesh or China, Mexico? Or why are they trying to bring down the American workers? Why not let everybody share in the prosperity? We have this kind of decadence that has been made into a very complicated philosophy. We have Alan Greenspan adding to this decadent economics. But Alan Greenspan argues that whenever you have unemployment up, that is good because it means that it keeps inflation in check, but unemployment goes down, it is bad because inflation will increase because the number of workers out there, if the supply is less than the demand, and when the supply is less than the demand and the workplace that drives up the ability of the wages because the workers can negotiate for higher level of wages. So our Federal Reserve has been pursuing a policy of keeping wages low, keeping unemployment high.”