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Wages Down 23% Since 2008

Posted by khalling 10 years, 1 month ago to Economics
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Although the number of jobs have increased since the financial collapse, a job that 60 k is now only paying 47 k. Meanwhile Wallstreet looters are enjoying record profits.


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  • Posted by iroseland 10 years, 1 month ago in reply to this comment.
    Exactly! I learned a lot of things back in 08/09. The most important of them was that there was no place that I could not contract. I learned that I can go for a long time without seeing family for friends... I also learned that when push comes to shove everything I actually need will fit ( not exactly comfortable ) in a 2001 golf leaving me just enough room to drive. 8^) I even bought a bunch of plastic bins to modularize and perfect my car packing.. I also learned that if you are flying a lot do everything in your power to stick with one airline. The result for me was AirTran started treating me like I was someone special. I started getting automatic upgrades to business class. The folks at the counter and gate knew me by name. But, to get there I had also been the guy who was always willing to stay Sunday night in Milwaukee.. But, being the guy who volunteers to get bumped will really make an impression on the folks who can make your life easier. I also learned that it is way easier to make money if you remain unencumbered and able to follow the cash..
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  • Posted by UncommonSense 10 years, 1 month ago in reply to this comment.
    Anyone who lives in Ferguson is in the danger zone along with commuters along I 270. Shutting down the Galleria mall shows how crazy the situation is. It really blows because my favorite tobacco shop is in the vicinity ~ guess I will have to wait a bit before I go back. Since I happen to live in south county, the violence seems far away. Besides, I'm armed. :)
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  • Posted by 10 years, 1 month ago in reply to this comment.
    Last first. Wallstreet doesn't invest. It requires responsibility of both your profits and your losses. But the government/FED always bails out WS, to the deficit of the rest of us..
    The reason why the job market is down 23%, has nothing to do with capitalism. It has to do with the systematic theft of the FED, taxes, regulations of the protective sector,
    Ar you trying to equate Bush/ Obama's economy with capitalism? hah
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  • Posted by empedocles 10 years, 1 month ago
    The job market changed over that time period.

    Far less people today are working in construction than they did prior to the financial crisis, which is impacting wages.

    People also took jobs that paid less. This is a free market. Don't you support it?

    What's wrong with Wallstreet? Invested capital creates jobs.
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  • Posted by Non_mooching_artist 10 years, 1 month ago
    And my day to day expenses, such as food, gas, and clothing two growing kids, have exploded. The same food is costing me on average $150.00 per week more, at least! Gas is $4;38 per gallon, and shows no sign of lowering any time soon.

    This is what a transformation of America looks like, looters! There will be nothing left for you to feed your parasitic selves on after the people who earn cease to do so. This is not the liberty that was envisaged by the founders! This is far worse than what they rebelled against! And the American people are going along with this madness like it's a day at the park! Wait until they begin to get hit up for more grubment pocket lining.
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  • Posted by 10 years, 1 month ago in reply to this comment.
    HEY! what is happening in town? give us some perspective. how much of the protests are people coming in from other places. I saw the footage today in Clayton. Is it widespread or localized. Update please
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  • Posted by UncommonSense 10 years, 1 month ago
    But I thought profits were bad? Oh, that's only if I want to make a profit, not if THEY make a profit. Some people enjoy more "equality" than others I guess huh? It literally pays to know "higher" folks in the political realm eh? Mr. Mouch anyone?
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  • Posted by Solver 10 years, 1 month ago in reply to this comment.
    We are in an expansion. An expansion of government power and control, all over the world.
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  • Posted by Zenphamy 10 years, 1 month ago in reply to this comment.
    But he seems so wrong about so many things, or is he just playing contrarian? Or just spouting the progressive mantra?
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  • Posted by Technocracy 10 years, 1 month ago in reply to this comment.
    If you are in government...we are.

    Otherwise, not so much.

    Unless you consider producing more part time workers instead of full time workers. That is an expansion, just not one I would be proud of.
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  • Posted by iroseland 10 years, 1 month ago
    hrrmm..weird..
    Since 2008 I am up in a pretty noticeable way. Now, the paperwork is signed and I will be FTE soon, at what was looking to be a pretty acceptable number. Of course, I am a puppet guy in a world where the demand is growing way faster than our numbers. So, according to a recruiter earlier today the new going rate for a puppet guy in the Seattle area is now 150 a year. But, with the signing bonus pay back requirement I will be off the market for at least 12 months. Of course also, by the time we are done with this project ( fully automating the infrastructure for a billion dollar business ) me and the team will be ready to move onto greener pastures. We are now seriously considering the idea of selling ourselves as a pre-made automation department. So, I fully expect that between the growth in need along with the recognition from this project we will be looking at 200 a year after next year. As for the pay reductions.. We now live in a world where keeping employees part time is now incentive-ized. Along with that there are a lot of things that people used to do that have been even more automated away. Technically, it seems that if wages have actually fallen that much the result should eventually be a weird form of deflation where the fed is still printing money but the depressed incomes are preventing spending and forcing prices down.
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  • Posted by Solver 10 years, 1 month ago in reply to this comment.
    Out of context that sounds wrong. In context it is an important part of one the the great speeches ever written. IMO :)
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  • Posted by $ jbrenner 10 years, 1 month ago in reply to this comment.
    Francisco's "Money is the barometer of a society's virtue." is my favorite line in all of AS.
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  • Posted by Zenphamy 10 years, 1 month ago
    And during the same time, the costs of gas has doubled, same with milk and bread, meats even more, utilities, education, government fees -- on and on. The true drop in wages considering loss of buying power???

    And at the same time, notice the drastic changes in the basic economic structure of the country -- more government employment and regulatory compliance in business -- less private employment (as a %), less small business and small business employment.

    It all just has to break at some point and should.
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  • Posted by $ jbrenner 10 years, 1 month ago
    Money is the barometer of a society's virtue. - Francisco d'Anconia
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  • Posted by Technocracy 10 years, 1 month ago
    When you factor in inflation, taxes, new fees, and everything else your actual effective purchasing power is lowered probably closer to 40%.
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  • Posted by ObjectiveAnalyst 10 years, 1 month ago
    The true measure of an economy... The relative state of individual prosperity of a John Doe.
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  • Posted by CarolSeer2014 10 years, 1 month ago in reply to this comment.
    Truth to tell, the ability to understand capitalism and it's time-dependency investment procedures, takes a hell of a lot more mature mind than O possesses!
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  • Posted by CarolSeer2014 10 years, 1 month ago in reply to this comment.
    I have trouble believing any numbers the government comes up with, especially on the economy and especially with only 3 months until the election. If the head of the Fed, Yellen, believes them, she would be sure to institute means to avoid run-a-way inflation, but we're not seeing her do that yet.
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  • Posted by Solver 10 years, 1 month ago
    Those government low cost housing plans sure worked out well. Government became bigger, got a lot more control, added truck load of new yet to be written regulations, and markedly increased the size of their socially dependent voters. In the mean time, their debts, liabilities and money printing accelerated upwards, while much of everyone's irreplaceable time was wasted away, and is still being wasted away. And done most skillfully was where they were able to placed the blame. The cause of their Great Recession was fallaciously deflected from their short term based, socially-destructive economic policies to Capitalism, and what O considers the juvenile idea of a free-market. Yep, it sure worked well, for bigger government. Not so well for the people.
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