Another Reason Corporate Profits Will Plummet: The Managerial/ Professional Class Is Burning Out, by Charles Hugh Smith

From Charles Hugh Smith at oftwominds.com:

What no financial analyst dares confess is the corporate profits they cheer every quarter have come at a cost that many Americans will soon be unable to bear.

If you work for Corporate America in a managerial or professional capacity, you know all about burnout, because you see it all around you or are experiencing it yourself. Readers describe what they are seeing in the top ranks of S&P 500 corporations, and the stories (anonymous because everyone knows the truth will get them fired/blacklisted) are all about the high personal costs of earning big paychecks by making the numbers–not just revenue but the all-important profits that power the multi-trillion-dollar valuations of U.S. corporations and the stock market that glories in their magnificent and ever-growing profits.

Corporate America depends on this class of workers to reap its stupendous profits: the attorneys, physicians and nurses who churn out the billable work; the CPAs who either cook the books or look the other way when others rig the books to make the company look more profitable than it actually is; the managers who squeeze the line workers to produce more; the software engineers and project managers who are always under deadline and always pressured to use cheaper temps; the Wall Street work-hounds who have to use uppers and other dangerous stimulants to function for 70-80 hours a week, week in and week out; the multitudes addicted to painkillers or other prescription drugs to manage their psychological and physical pain; the working parents whose family life is imploding under the demands of their employers; social workers burdened with ever-larger case loads–the examples are endless.

Even if you don’t work in this class, you see burnout all around you: people burned out by crushingly long commutes, by juggling two jobs, or small-business owners resorting to self-exploitation, i.e. working ridiculous hours for little or no pay, just to keep their enterprise (and dream of self-employment) alive.

What no financial analyst dares confess is the corporate profits they cheer every quarter have come at a cost that many Americans will soon be unable to bear. Millions of highly experienced, essential employees of Corporate America, from physicians and nurses to top managers and technologists are either planning to quit, retire, cut their hours or file a workers compensation claim for stress related to their work.

To continue reading: Another Reason Corporate Profits Will Plummet: The Managerial/ Professional Class Is Burning Out

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