War on the Middle Class


	War on the Middle Class

baydawg

4-7-2009 8:39 PM

126 views

tags:

war on the middle class, wages, failure

baydawg says:

by wall street and the establishment--median incomes of American workers haven't improved since 1974

1 Comment |

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4-7-2009 9:53 PM

masbury

Exactly right- and the only reason workers aren't farther behind is that they work more hours than they used to.
More hours at greater productivity - and their bosses get rich and want a tax cut.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/7ad69ac9-db7a-4d36-9075-007655fa9178/7AABD09B-5F6B-431D-AF11-ED4C03CCD364/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://globalguerrillas.typepad.com/globalguerrillas/2009/04/journal-stagnant-median-incomes-and-parasitic-predation.html" href="http://globalguerrillas.typepad.com/globalguerrillas/2009/04/journal-stagnant-median-incomes-and-parasitic-predation.html" style="font-size: 11px;">globalguerrillas.typepad.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globalguerrillas.typepad.com/globalguerrillas/2009/04/journal-stagnant-median-incomes-and-parasitic-predation.html">median incomes -- arguably the only real indicator of economic progress -- of American workers haven't improved since 1974 </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globalguerrillas.typepad.com/globalguerrillas/2009/04/journal-stagnant-median-incomes-and-parasitic-predation.html"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/globalguerrillas.typepad.com/img/2C592342-B2F7-4EA6-82D5-1BB373FC52FE" alt="Median Incomes US" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globalguerrillas.typepad.com/globalguerrillas/2009/04/journal-stagnant-median-incomes-and-parasitic-predation.html">the post-WW2 social contract that linked productivity improvements to median income gains was shattered in 1974.  Since then, the value created by a doubling of productivity went to global capital markets instead of doubling incomes for employees.  Nominally, this decision was made under the assumption that this money would be more efficiently allocated by the global financial network than individuals.  In reality, it was likely parasitic predation by a relatively small network that found out how to co-opt the economic system's core functions, in a process that is identical to how cancer co-opts the host's systems of cellular metabolism to grow rapidly</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globalguerrillas.typepad.com/globalguerrillas/2009/04/journal-stagnant-median-incomes-and-parasitic-predation.html">this money wasn't invested wisely.  It was gambled away and spent on excess by the members of this network.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7AABD09B-5F6B-431D-AF11-ED4C03CCD364/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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