Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Inflation has been rising faster than the wages of the working class for almost 40 years now. The middle class turned a blind eye to the plight of the working class, now it's their turn to see their real wages drop. The middle class choose poorly when the decided not to help the working class fight the policies that were driving their wages down. It didn't take a financial expert to know that the assault on wages would eventually include the middle class.
Inflation has been rising faster than the wages of the working class for almost 40 years now. The middle class turned a blind eye to the plight of the working class, now it's their turn to see their real wages drop. The middle class choose poorly when the decided not to help the working class fight the policies that were driving their wages down. It didn't take a financial expert to know that the assault on wages would eventually include the middle class.
That's because the government consumes ever larger percentages of the wealth that's produced - which used to benefit everyone. Now, it's all wasted by government - the reason wages have fallen.
Good post, and one I expect to Mircea to show up in to drop knowledge on all of us, but allow me to prime the pump a smidgen:
Facts:
The M1 money supply has doubled in the last 10 years (actually, it has doubled in the last 6, coniciding with someone holding office, but I digress).
The M2 money supply has just about doubled in the last 10 years.
Inflation, always and everywhere, is a function of the money supply in a given economy.
Now, here's the questions relating to those facts:
Has your net income doubled in the last 10 years?
Has your total compensation doubled in the last 10 years?
Has your stock portfolio (the whole reason for us keeping interest rates artificially low and pumping all this new money into the economy in the first place) doubled in value in the last 10 years?
Has the value of ALL of your non-stock assets doubled in the last 10 years?
Add it all up, and ask yourself if your entire net financial picture has doubled in the last 10 years. If it has not, then you are worse off than you were 10 years ago. If it has, good for you. The break point however, is doubling in the last 10 years. Below is bad, above is good, on the nose means treading water.
The slowest recovery in American history.
Even FDR had better numbers.
The only thing keeping the illusion afloat, is the federal reserve.
But the consequences of that is, a drastic push for a two class society.
Part time work has replaced full time work, in all places except the rich elite.
I'm educated as are all of my friends. I think the part time work is for the knuckledraggers who sit around and whine about Obama all day. Engineers, doctors, lawyers, accountants, and the slew of other professionals aren't being moved to part time work.
Good post, and one I expect to Mircea to show up in to drop knowledge on all of us, but allow me to prime the pump a smidgen:
Facts:
The M1 money supply has doubled in the last 10 years (actually, it has doubled in the last 6, coniciding with someone holding office, but I digress).
The M2 money supply has just about doubled in the last 10 years.
Inflation, always and everywhere, is a function of the money supply in a given economy.
Now, here's the questions relating to those facts:
Has your net income doubled in the last 10 years?
Has your total compensation doubled in the last 10 years?
Has your stock portfolio (the whole reason for us keeping interest rates artificially low and pumping all this new money into the economy in the first place) doubled in value in the last 10 years?
Has the value of ALL of your non-stock assets doubled in the last 10 years?
Add it all up, and ask yourself if your entire net financial picture has doubled in the last 10 years. If it has not, then you are worse off than you were 10 years ago. If it has, good for you. The break point however, is doubling in the last 10 years. Below is bad, above is good, on the nose means treading water.
The problem with your argument is that money hasn't been changing hands. Pumping the economy with cash hasn't stimulated it, because the rich took their money and ran (overseas tax shelters, holding it in unrealized gains, etc). Money has to change hands for the inflationary effect you speak of to come to fruition.
Inflation has been rising faster than the wages of the working class for almost 40 years now. The middle class turned a blind eye to the plight of the working class, now it's their turn to see their real wages drop. The middle class choose poorly when the decided not to help the working class fight the policies that were driving their wages down. It didn't take a financial expert to know that the assault on wages would eventually include the middle class.
If I have ever read a messed up post, this would be it. So much ignorance in so few words.
I'm educated as are all of my friends. I think the part time work is for the knuckledraggers who sit around and whine about Obama all day. Engineers, doctors, lawyers, accountants, and the slew of other professionals aren't being moved to part time work.
And the knuckle draggers that "praise Obama" all day "will feel the pain". They are getting what they worked for and voted for.
We tried telling you that if you want to keep your job you better vote so Obama loses his. You didn't now suffer the consequence of your vote.
I'm educated as are all of my friends. I think the part time work is for the knuckledraggers who sit around and whine about Obama all day. Engineers, doctors, lawyers, accountants, and the slew of other professionals aren't being moved to part time work.
This is the mentality that lead to the poor decision I mentioned in my earlier post.
If I have ever read a messed up post, this would be it. So much ignorance in so few words.
Yet, you can't explain why.
Quote:
Originally Posted by stburr91
Inflation has been rising faster than the wages of the working class for almost 40 years now. The middle class turned a blind eye to the plight of the working class, now it's their turn to see their real wages drop. The middle class choose poorly when the decided not to help the working class fight the policies that were driving their wages down. It didn't take a financial expert to know that the assault on wages would eventually include the middle class.
Yep. Inflation has been just 2-3% (trending down to 1-2% as of late), yet Middle Class wages are stagnant. However, wages in the financial sector and CEO pay has risen astronomically..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
