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World’s biggest hedge fund sounds the alarm on capitalism’s dangerous and unsustainable path

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Bridgewater Associates, a giant hedge fund run by billionaire Ray Dalio, is sounding the alarm about the ways capitalism over the past two decades has failed to lift up ordinary workers –and it’s causing a massive backlash against corporate power.

Business Insider reports that Bridgewater has released a new analysis claiming that the last two decades have offered businesses “the most pro-corporate environment in history” and have been marked by steep decline in the percentage of workers who join labor unions.

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“In companies that had union membership decline, wages fell at a greater level than sectors where union membership remained in tact,” Business Insider reports. “Transportation, manufacturing, and construction jobs were hit the hardest: these three industries had union membership decline by as much as 9 percent, yet national wages grew only around 1.7 percent to 2.5 percent since 2000. Jobs in the financial sector, meanwhile, had the most growth in union membership since 2000, and saw wages increase by nearly 3 percent.”

At the start of the 21st century, Business Insider notes, 25 percent of workers were unionized worldwide, whereas now just 10 percent are unionized.

The result of this has been a surge in inequality, less stable lives for workers, and a political environment marked by angry rebellion against the current economic order.

“We are in the midst of a populist backlash against rising inequality and increasingly seeing a move toward more protectionism,” the report states.

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Read more about the report here.


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Ex-prosecutor demands congressional investigation after latest report on the FBI and Brett Kavanaugh

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Supreme Court Justice Brett Kavanaugh had another allegation of sexual misconduct revealed on Saturday in a bombshell report in The New York Times.

"A classmate, Max Stier, saw Mr. Kavanaugh with his pants down at a different drunken dorm party, where friends pushed his penis into the hand of a female student. Mr. Stier, who runs a nonprofit organization in Washington, notified senators and the F.B.I. about this account, but the F.B.I. did not investigate and Mr. Stier has declined to discuss it publicly," the newspaper reported.

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Boris Johnson promises Britain will be like the Incredible Hulk during Brexit negotiations

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Prime Minister Boris Johnson said Saturday he was making a "huge amount of progress" towards a Brexit deal with the EU, in an interview in which he compared Britain to the Incredible Hulk.

"It's going to take a lot of work between now and October 17" when EU leaders gather for their final summit before Britain's scheduled exit from the bloc, he told the Mail on Sunday newspaper.

"But I'm going to go to that summit and I'm going to get a deal, I'm very confident. And if we don't get a deal then we'll come out on October 31."

His comments came ahead of talks with European Commission chief Jean-Claude Juncker and the EU's chief Brexit negotiator, Michel Barnier, in Luxembourg on Monday.

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NYT blasted for ‘spectacularly offensive sentiment’ after tweet illustrating ‘rape culture’

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The results of a 10-month investigation into Supreme Court Justice Brett Kavanaugh by New York Times reporters Robin Pogrebin and Kate Kelly was published on Saturday.

But attention was taken away from the powerful reporting after the Twitter account of The Times opinion page posted a shocking message.

"Having a penis thrust in your face at a drunken dorm party may seem like harmless fun," read the tweet.

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