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The world is getting smaller. Wages between rich and poor nations will continue to converge. There is no stopping it. Ignore the protectionist loons who would just make things worse.
More stark evidence that we have exactly the country and the government we deserve.
"While a majority of jobs lost during the downturn were in the middle range of wages, a majority of those added during the recovery have been low paying, according to a new report from the National Employment Law Project."
What a Obummer!
Why are you shocked?
You're grotesquely over-paid.
What's rich is you all whine about athletes and entertainers making millions. Well, the rest of the world sees you in the same light that you see athletes and entertainers.
You cannot compete globally, because you're over-paid. That results in the loss of jobs amongst your global work-force, which increases competition for domestic-based jobs, which drives down wages.
Economically...
Mircea
Quote:
Originally Posted by andywire
Globalism is in full swing, like it or not.
And you are reaping what you have sown for the last 100 years.
Congratulations.
Quote:
Originally Posted by andywire
Europe isn't fairing much better. In many of those countries, the laws do not permit companies to race labor to the bottom the way it has been doing here...
Which means they are interfering in the Market and violating the Laws of Economics.....and for that, the will suffer even more....and deservedly so.
Congratulating...
Mircea
Quote:
Originally Posted by CrownVic95
Most here are too young to remember that this same exact headline was repeated time and time again throughout the Reagan recovery in the 80s. And it was true.
I don't remember that.
I'm going to call NAZI propaganda on your bogus claim.
As everyone can plainly see, wages did not decline during the Reagan Era.
In the spirit of openness and honesty (which is lacking by many on this forum) I'm going to point out a few things that you need to know to properly assess this data.
The period 1971-1980 is an anomaly, because during the early 1970s, the US suffered a serious bout of Wage Inflation. Rapidly rising wages cause prices to spiral out of control. Nixon enacted a Wage & Price Freeze to stop rising wages and rising prices.
That means the 7.31% increase is skewed by inflated wages.
You must also consider that the data from about 1970 to 1990 is skewed by the entry of women into the work-force. During the 1950s, the US had 5% unemployment, but a labor force participation rate of 58%.
How do you explain that?
Simple. It wasn't cool for women to work. Not that it really mattered, since there weren't enough jobs for men and women. Only 6% of US households had two full-time wage-earners.
I want you think about that.
By 1988, your labor force participation rate is 67.1%.
How do you explain that? Simple. Women entered the work-force to work. That started in the 1970s -- women working. By 1976, you now have 13.7% of households in the US have two full-time wage-earners.
This wage-earner trend continues to rise through 2008, at which time you had 67% of US households had two full-time wage earners.
I want you to think about that and compare it to the 1950s. Your ability to pay for Social Security and Medicare is predicated entirely on having an unemployment rate of 5%, with a labor force participation rate >66.5%. If you fail to sustain that, then Medicare will collapse in 2018, and Social Security 2023-2025. And so far....you have failed. So even if you get your unemployment down to 5%, if your labor force rate is only 64% then you lose...you failed...because you don't have enough people working to pay benefits. When you started, you had 46 workers for each retiree. As of June you had 2.3 workers for each retiree --- which is unfortunate, because you're supposed to have -- and you desperately need, 2.8-3.0 workers for each retiree through at least 2030 when it will taper off to 2.0-2.3 workers for each retiree (and stay relatively flat through the infinite horizon).
Anyway, back to the data, we can clearly say that wages are declining during the period 2001-2010, and they will continue to decline for the next 30-40 years.
Quote:
Originally Posted by CrownVic95
Baloney.
Even The Third Reich was stoppable, but by a generation of Americans with qualities not even remotely understood by most living today.
The only thing in the way is the proliferation of absorbed mindsets like yours, that haven't begun to think through the inevitable result of a world under autocratic multinational corporate control.
It's stoppable, alright, or at least it was....until we turned into a nation of lost souls with no purpose left but to self-destruct as penance for our past achievements and success.
You cannot stop it.
First of all, you have no understanding of how you got to this, and secondly, you don't even understand what is happening.
It is BRIC who is globalizing, not multi-national corporations. The MNCs are just taking advantage of the opportunities that BRIC is creating.....
....the very same opportunities that you denied the rest of the world for decades.
BRIC does everything that Jesus would do. And what would Jesus do if he went to a 3rd/4th World State? Would Jesus do like the US and dump $Billions in military hardware on them, military hardware that they didn't even need and couldn't afford?
No. The very first thing Jesus would do is build roads, and then put up electrical lines, and then water lines, and then sewage and the natural gas lines, and then start building schools and hospitals, and then create an atmosphere/environment for business to grow and thrive.
That is what BRIC does, and that is what the US refused to do.
Sorry, but illegally over-throwing a government and setting up a puppet dictatorship is not nation-building. Murdering an head-of-State in cold blood is not nation-building. Stealing a country's natural resources, wealth and assets is not nation-building.
Had you always been doing what BRIC is doing now, you wouldn't be in this mess....but then, the average hourly wage in the US would not be $22/hour like it is now....it would be more like $12-$14/hour.....but guess what? In a few decades, you'll be exactly where you should have always been......$12-$14/hour.
You threw away your entire future just so you could party for a few decades. How smart was that?
Laughing at the superior intellect....
Mircea
Quote:
Originally Posted by 2nd trick op
Globalization is unstoppable .... a natural consequence of the recovery from the days back in the late Forties when only North America had an intact industrial base and Europe had ruins .... and 50 million or so fresh graves.
And add to that the fact that the US stole everything.
Quote:
Originally Posted by 2nd trick op
And when a globalizing society recovers from such an imbalace, it's an unfortunate fact that those on the bottom have much more to gain than those already at the top.
True. They higher you are, the further and harder you fall.
Quote:
Originally Posted by 2nd trick op
And yes, an already-developed society can protect ts truly less-fortunate from the worst effects of economic re-orientation, but only up to a point; it can't guarantee "soft jobs" for all of us, nor keep the price of unnecessary personal services down when poor people from other nations no longer have to line up to provide them.
That will be very painful for most.
Portending...
Mircea
Quote:
Originally Posted by freemkt
In short: Poor people in rich nations are screwed.
It's the Economic version of Social Darwinism.
Thanks to the miracles of modern medicine, stupid people live and can procreate to spread their stupidity. In a Perfect World, stupid people would die, and then there wouldn't be any more stupid people.
Genetically...
Mircea
Quote:
Originally Posted by waterboy7375
Poor people in all nations have always been screwed. We live in a capitalist society. Capitalism is based on money. Learn to play the game or suffer.
Capitalism is not based on money. I'd have to say that you're the least competent propaganda artist. Capitalism is a Property Theory -- and nothing more. It is not an Economic System. Capitalism only theorizes who should control Capital, specifically that private individuals should control Capital, and Capital exists whether money exists or not.
Socialism and Communism are also based on money, so you've been debunked.
That's Ronald Raygun! Remember is X-Ray defense system sort of like skynet... Rayguns would have shot all the Russian ICBMs down in space.
On a serious note and back on topic, this is nothing new! I dislike Obama as much as Bush, Klinton, Bush, Reagan, Carter, Ford, Nixon, LBJ... They were all bad, and from 1973 onwards, wages stopped keeping pace with inflation. The problem for most people is that they only seem to care once they finally notice that it's affecting them.
What did you think was going to happen once we shutdown our factories, imports exceeded exports, and became a consumer society dependent upon a service economy? This isn't news, and it's only going to get worse. Nobody cares, has pride in their country, and all that seems to matter is buying whatever junk the media tells us to lest we be labeled losers for not keeping up with the Jones.
Sure Obama sucks, but you can't put the entire blame on him. Moreover Bush/Obama are one in the same. They're just two heads on the body of an ugly monster.
What's rich is you all whine about athletes and entertainers making millions. Well, the rest of the world sees you in the same light that you see athletes and entertainers.
You cannot compete globally, because you're over-paid. That results in the loss of jobs amongst your global work-force, which increases competition for domestic-based jobs, which drives down wages.
Economically...
Mircea
And you are reaping what you have sown for the last 100 years.
Congratulations.
Which means they are interfering in the Market and violating the Laws of Economics.....and for that, the will suffer even more....and deservedly so.
Congratulating...
Mircea
I don't remember that.
I'm going to call NAZI propaganda on your bogus claim.
As everyone can plainly see, wages did not decline during the Reagan Era.
In the spirit of openness and honesty (which is lacking by many on this forum) I'm going to point out a few things that you need to know to properly assess this data.
The period 1971-1980 is an anomaly, because during the early 1970s, the US suffered a serious bout of Wage Inflation. Rapidly rising wages cause prices to spiral out of control. Nixon enacted a Wage & Price Freeze to stop rising wages and rising prices.
That means the 7.31% increase is skewed by inflated wages.
You must also consider that the data from about 1970 to 1990 is skewed by the entry of women into the work-force. During the 1950s, the US had 5% unemployment, but a labor force participation rate of 58%.
How do you explain that?
Simple. It wasn't cool for women to work. Not that it really mattered, since there weren't enough jobs for men and women. Only 6% of US households had two full-time wage-earners.
I want you think about that.
By 1988, your labor force participation rate is 67.1%.
How do you explain that? Simple. Women entered the work-force to work. That started in the 1970s -- women working. By 1976, you now have 13.7% of households in the US have two full-time wage-earners.
This wage-earner trend continues to rise through 2008, at which time you had 67% of US households had two full-time wage earners.
I want you to think about that and compare it to the 1950s. Your ability to pay for Social Security and Medicare is predicated entirely on having an unemployment rate of 5%, with a labor force participation rate >66.5%. If you fail to sustain that, then Medicare will collapse in 2018, and Social Security 2023-2025. And so far....you have failed. So even if you get your unemployment down to 5%, if your labor force rate is only 64% then you lose...you failed...because you don't have enough people working to pay benefits. When you started, you had 46 workers for each retiree. As of June you had 2.3 workers for each retiree --- which is unfortunate, because you're supposed to have -- and you desperately need, 2.8-3.0 workers for each retiree through at least 2030 when it will taper off to 2.0-2.3 workers for each retiree (and stay relatively flat through the infinite horizon).
Anyway, back to the data, we can clearly say that wages are declining during the period 2001-2010, and they will continue to decline for the next 30-40 years.
You cannot stop it.
First of all, you have no understanding of how you got to this, and secondly, you don't even understand what is happening.
It is BRIC who is globalizing, not multi-national corporations. The MNCs are just taking advantage of the opportunities that BRIC is creating.....
....the very same opportunities that you denied the rest of the world for decades.
BRIC does everything that Jesus would do. And what would Jesus do if he went to a 3rd/4th World State? Would Jesus do like the US and dump $Billions in military hardware on them, military hardware that they didn't even need and couldn't afford?
No. The very first thing Jesus would do is build roads, and then put up electrical lines, and then water lines, and then sewage and the natural gas lines, and then start building schools and hospitals, and then create an atmosphere/environment for business to grow and thrive.
That is what BRIC does, and that is what the US refused to do.
Sorry, but illegally over-throwing a government and setting up a puppet dictatorship is not nation-building. Murdering an head-of-State in cold blood is not nation-building. Stealing a country's natural resources, wealth and assets is not nation-building.
Had you always been doing what BRIC is doing now, you wouldn't be in this mess....but then, the average hourly wage in the US would not be $22/hour like it is now....it would be more like $12-$14/hour.....but guess what? In a few decades, you'll be exactly where you should have always been......$12-$14/hour.
You threw away your entire future just so you could party for a few decades. How smart was that?
Laughing at the superior intellect....
Mircea
And add to that the fact that the US stole everything.
True. They higher you are, the further and harder you fall.
That will be very painful for most.
Portending...
Mircea
It's the Economic version of Social Darwinism.
Thanks to the miracles of modern medicine, stupid people live and can procreate to spread their stupidity. In a Perfect World, stupid people would die, and then there wouldn't be any more stupid people.
Genetically...
Mircea
Capitalism is not based on money. I'd have to say that you're the least competent propaganda artist. Capitalism is a Property Theory -- and nothing more. It is not an Economic System. Capitalism only theorizes who should control Capital, specifically that private individuals should control Capital, and Capital exists whether money exists or not.
Socialism and Communism are also based on money, so you've been debunked.
Monetarily...
Mircea
Well, well, well....what a surprise
It must have taken you most of an hour to put this together....time spent about as productively as moving a pile of garbage from one end of a landfill to another. If you only understood that nobody's listening anymore....
"While a majority of jobs lost during the downturn were in the middle range of wages, a majority of those added during the recovery have been low paying, according to a new report from the National Employment Law Project."
If you don't want to do it, there are millions of illegal aliens in this nation, that will.
It is a job Americans no longer wish to do.... For the low pay they are now offering, because you are in direct competition with exploited illegal aliens. Good Luck with that!
I think after an credit bubble these jobs would recover first. If Obama wins reelection Obama will get his massive tax increases, more spending and much more radical social policy changes that will really kill any recovery.
It must have taken you most of an hour to put this together....time spent about as productively as moving a pile of garbage from one end of a landfill to another. If you only understood that nobody's listening anymore....
Well... you at least were listening. Did you learn anything? You must really have been impressed to want to quote his whole post for us to read again. That old ring o'truth hurting your ears a bit? IMO there is nothing more pathetic than someone trying to deny being affected by another's truth when they clearly have been... I mean... if I were wrong would post #34 even exist?
"While a majority of jobs lost during the downturn were in the middle range of wages, a majority of those added during the recovery have been low paying, according to a new report from the National Employment Law Project."
Majority of jobs pat low the ones that are newly created, Rick Perry got exposed for creating minimum wage jobs as well. Not much the president can do, it's up to the people.
Well... you at least were listening. Did you learn anything? You must really have been impressed to want to quote his whole post for us to read again. That old ring o'truth hurting your ears a bit? IMO there is nothing more pathetic than someone trying to deny being affected by another's truth when they clearly have been... I mean... if I were wrong would post #34 even exist?
H
Another's truth? Lol!
If you feel compelled to read that whole post again, that's your problem - not mine.
So for all those that are for these Multi-National Corporations that own no allegiance to any country, are you also for the handing over control to the UN, because that is where we are headed.
You can't pick and choose what benefits you in this new world order, because the good and bad is getting jammed down our throats rather you like it or not.
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Lol!
