Starvation Wages

"Nearly two-thirds of all the new jobs created since 2009 pay less than $13.80 an hour."
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Reply to
jon_banquer
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***** OT -- minimum metal content but important (and a hot button issue for me) *****
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If you want a third world society and culture, create a third world economy. If you want a third word economy, pay third world wages... Unka' George
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As we can see in 2010 only two nations, Mexico and Chile, were worse in the gap between rich and poor than the United States. Again, most of America is clearly in 3rd world status at this point and the illusion of America being the wealthiest nation on Earth is only for a select few.
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Income inequality increased dramatically between 1979 and 2007, when a global financial crisis rocked not just the U.S. but the entire world. But maybe things have turned around since then? No. Just take a look at what happened in 2011: snip> Real [that means inflation-adjusted] median household income declined between 2010 and 2011, a second consecutive annual decline. The poverty rate in 2011 was not statistically different from 2010. Both the percentage and number of people without health insurance decreased between 2010 and 2011.
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The return to high inequality?or what Krugman and journalist Timothy Noah have referred as the "Great Divergence"?began in the 1970s. The income growth of the average American family closely matched that of economic productivity until some time in the 1970s. While it began to stagnate, productivity has continued to climb.
Studies have found income grew more unequal almost continuously except during the economic recessions in 1990-91, 2001 (Dot-com bubble), and 2007 sub-prime bust.
Reply to
F. George McDuffee
Well, that's the Obama economy for you.
. Christopher A. Young Learn about Jesus
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Reply to
Stormin Mormon
Income inequality is a consequence of technological change.
With the continued development of computer technology, people of low and average intelligence are permanently displaced by computers that can do their job better.
"Educating" those people is not really the answer, because you cannot teach them to do anything that computers cannot do better. So, people of high intelligence can enjoy greater benefits of automation, while the rest of the population is unneeded and displaced.
As I do not expect people in general to suddenly become smarter, this trend is not reversible. Also, as computer and algorithmss become better, faster and smarter, "the IQ bar" for being displaced by computers, is constantly raised.
The implications of this are disturbing.
Blaming "Obama" is the easy explanation for dumb people, who do not understand why they became redundant.
i
Reply to
Ignoramus15215
No less than you. What makes you such an expurt on "wage structure"?
My guess is simple greed on your part.
Dhu
Reply to
Dhu on Gate
IQ has nothing to do with all the menial jobs that have been exported to low wage contries/regions. Where does apple manufacture thier products? Most people are coned into believing the government controls the ecconomy when in fact it is controlled by multinational corporations, wall street bankers and thier lobbyists. They are the ones who decide who gets the wealth. Technological change is not the cause of exporting jobs.
Best Regards Tom.
Reply to
azotic
Who is supposed to buy what they're producing?
Reply to
Siri Cruise
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NOT INTERESTED IN CANADA, THANKS. . . .
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> > >> >>> ***** OT -- minimum metal content but important (and a hot >>> button issue for me) ***** >>> >>>
Reply to
§?amßuster
What they going to use instead of the money you declared they haven't earned?
Reply to
Siri Cruise
Who is going to demand the products they are producing?
Reply to
Siri Cruise
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Path: not-for-mail From: Siri Cruise Newsgroups: rec.crafts.metalworking,alt.california,or.politics,can.politics Subject: Re: Starvation Wages Date: Thu, 29 Aug 2013 12:25:00 -0700 Organization: Katie Holmes's iPhone Lines: 35 Message-ID: References: Injection-Info: mx05.eternal-september.org; posting-host="bf08981276d0f9553673b0653b56481e"; logging-data="24358"; mail-complaints-to=" snipped-for-privacy@eternal-september.org"; posting-account="U2FsdGVkX1+IpOXQ1KpcJdt6uT2wGjhvw66t7Nn69I4=" User-Agent: MT-NewsWatcher/3.5.3b3 (Intel Mac OS X) X-No-Archive: Yes X-It-Strategy: Hyperwarp starship before Andromeda collides. X-Face: $@Ae^D@4_kvHM5:gt9Rs2R1YXbOf7k8llAUWN.{H.u(2`>/U9jG2=1>DLT*WYm Cancel-Lock: sha1:eAHpYR8ilDXJWyX4M89W7yN+yM4= X-Plain: Mayonaisse on white bread. X-Received-Bytes: 2638 Xref: e rec.crafts.metalworking:994976 alt.california:909690 or.politics:987668 can.politics:1483931
Reply to
§?amßuster
snipped-for-privacy@eternal-september.org
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Path: not-for-mail From: Siri Cruise Newsgroups: rec.crafts.metalworking,alt.california,or.politics,can.politics Subject: Re: Starvation Wages Date: Thu, 29 Aug 2013 12:23:46 -0700 Organization: Katie Holmes's iPhone Lines: 38 Message-ID: References: Injection-Info: mx05.eternal-september.org; posting-host="bf08981276d0f9553673b0653b56481e"; logging-data="24358"; mail-complaints-to=" snipped-for-privacy@eternal-september.org"; posting-account="U2FsdGVkX1+m2RJvQjMaVqWEpnkT+2CJRR2sAnpEOTU=" User-Agent: MT-NewsWatcher/3.5.3b3 (Intel Mac OS X) X-No-Archive: Yes X-It-Strategy: Hyperwarp starship before Andromeda collides. X-Face: $@Ae^D@4_kvHM5:gt9Rs2R1YXbOf7k8llAUWN.{H.u(2`>/U9jG2=1>DLT*WYm Cancel-Lock: sha1:z0KUs5uL1tMzgtVsIy3hDpAEAlM= X-Plain: Mayonaisse on white bread. X-Received-Bytes: 2765 Xref: e rec.crafts.metalworking:994975 alt.california:909689 or.politics:987667 can.politics:1483930
Reply to
§?amßuster
The employees don't have the money, so they aren't the customers. Who are the customers?
And once again you start with your repetitious whining instead of responding rationally. And you will continue to rant until everyone walks away from your tantrum.
The phrase you are groping for is 'market failure'.
Reply to
Siri Cruise
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STILL NOT INTERESTED IN CANADA, THANKS. . . .
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Path: not-for-mail From: Siri Cruise Newsgroups: rec.crafts.metalworking,alt.california,or.politics,can.politics Subject: Re: Starvation Wages Date: Thu, 29 Aug 2013 13:42:10 -0700 Organization: Katie Holmes's iPhone Lines: 58 Message-ID: References: Injection-Info: mx05.eternal-september.org; posting-host="bf08981276d0f9553673b0653b56481e"; logging-data="13566"; mail-complaints-to=" snipped-for-privacy@eternal-september.org"; posting-account="U2FsdGVkX1920Eq2YBBfe6AFV/fcsNivH00aAzgEILs=" User-Agent: MT-NewsWatcher/3.5.3b3 (Intel Mac OS X) X-No-Archive: Yes X-It-Strategy: Hyperwarp starship before Andromeda collides. X-Face: $@Ae^D@4_kvHM5:gt9Rs2R1YXbOf7k8llAUWN.{H.u(2`>/U9jG2=1>DLT*WYm Cancel-Lock: sha1:Lpv2SRD1yWgX5iILFIU3BnOa99I= X-Plain: Mayonaisse on white bread. X-Received-Bytes: 3616 Xref: e rec.crafts.metalworking:994997 alt.california:909699 or.politics:987683 can.politics:1483944
Reply to
§?amßuster
You said they are going to be paid even less so they will have even less money to spend, and so not increasing demand as fast as they increase supply.
Reply to
Siri Cruise
So you're depending on faith based economics.
Reply to
Siri Cruise
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> > >> >>>
Reply to
§?amßuster
The price depends on beef and potato subsidies from USDA. Republicans want to shut down those subsidies.
Reply to
Siri Cruise
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NOT INTERESTED IN CANADA, THANKS. . . .
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Reply to
§?amßuster
The computer still cannot drive nails and dig ditches. Your "lower intelligence" people can make very good wages as skilled laborers and tradesmen that will not be replaced by computers in their lifetimes, or their children's lifetimes.
And there are more unemployed IT and computer science geeks out there than there are unemployed electricians, plumbers, millrights, mechanics, etc.
Reply to
clare

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