"Meanwhile, a large section of the workforce - the unemployed or those not seeking work - have not benefited from economic growth. "
"Unemployment has remained stubbornly high despite the economic recovery, with the latest figure at 4.7% compared to 4% at the end of 2000. "
"From 1992 to 2005, the pay of chief executive officers of major companies rose by 186%.
The equivalent figure for median hourly wages was 7.2%, leaving the ratio of CEOs' pay to that of the average worker at 262.
In the 1960s, the comparable figure was 24. "
From Cypress' article that you posted Lady T.
The ignorance of the above should tarnish the authors "expertise" on economics.
"Meanwhile, a large section of the workforce - the unemployed or those not seeking work - have not benefited from economic growth. "
"Unemployment has remained stubbornly high despite the economic recovery, with the latest figure at 4.7% compared to 4% at the end of 2000. "
"From 1992 to 2005, the pay of chief executive officers of major companies rose by 186%.
The equivalent figure for median hourly wages was 7.2%, leaving the ratio of CEOs' pay to that of the average worker at 262.
In the 1960s, the comparable figure was 24. "
From Cypress' article that you posted Lady T.
The ignorance of the above should tarnish the authors "expertise" on economics.
Lets think about the SF.
For the last 6 years, around 70%, give or take, of the american people have been dissastisfied with the economy. That's one of the worst, and longest, economic funks in recent history. People are nervous, and don't like this economy.
What would explain that? Why would enormous majorities of people for years on end, be so pessimistic about the bush economy?
Is it possible that my thesis is correct? That income and wages have stagnated, compensation benefits have been reduced, pensions are under assualt, and people are settling for lower paying jobs in many cases?
Or, is is just that they're not seeing all the "good news" that you are able to divine in the tea leaves of economic data?
Which sounds more reasonable to you?
Duhla, please tell me you to think increased productivity is bad for the economy. I need a chuckle
For SF
skewered!!!!!!!!!!!
your both right
but cypress you ignore the big picture
It's called globalization, wages for everyone but the top third have been slower to rise.
the investor class has riden the backs of the Chineese and Indians to prosperity.
Like it or not that is what's happening.
Hopefully the next dems pres will not sell out the American worker with new shit aggreements.
Cypress, I'm totally against those types of agreements. Chinees working for $2 day instead of our guys at $200
But, don't hate the playa hate the game.
For SF
It is a balance thing sputter. If wages are depressed for too long, who will buy the products ?
See SF? Even top gets it.
The nasty effect of globalization that you "free" traders hoisted onto us, has basically contributed to economic stagnation for working class americans. Although, I'll give you that the upper quartile have done pretty well. Its the bottom 75% I'm worried about.
Free trade's the only thing keeping the working class from having no purchasing power.
No, because the productivity increase in worker hours could also be due to technological improvements.
Bottom line, the Wilshire 5000 & the Dow Transports are teetering on the edge of technical breakdowns today. The dollar is continuing to weaken. Energy prices remain high. The worst of sub-prime has yet to hit. The politicians should be paying the other party to take the White House in 2008. Because regardless of the outcome, the "winner" will not likely be re-elected in 2012.
Free trade's the only thing keeping the working class from having no purchasing power.
look you'll get a democratic administratin almost asuredly, power usually changes after a two termer and especially after an unpopular one.
The market WILL do better as usual under the dems. Why? Because a rising tide lifts all boats; we've had a rising tide for the country club boats only for the last 6yrs and thats plain not fair.
Will the next Pres have to kill all things free trade?
Of course not, but each new agreement will be better for the American worker.
A side benefit will be the romoval of the police state feel the Bush Ghestapo guy's have us living under.
I don't disagree. No one is talking about killing trade. Anti-NAFTA candidates are talking about fixing UNFAIR trade. Which, I appreciate that you fundamentally seem to recognize.
btw: Thanks for not IA'ing me for laying out the facts and the consequences of unfair trade, and the stagnation of working class americans. Some people IA me for doing that!