Post by stingray on Aug 30, 2015 10:05:04 GMT -5
“Americans are getting stronger. Twenty years ago, it took two people to carry ten dollars worth of groceries. Today, a five-year old can do it.” — Henny Youngman
Sounds about right. What can $10 buy today:
2 dozen eggs
3 loaves of bread
4 cans of soup
1 steak
2 lbs. of ground beef
If we measured wages against something substantial like gold, you can clearly see that wages, in buying power of dollars, have been falling. In 1965 the average unskilled worker income was equivalent to 71 ounces of gold. In 2011 a workers salary in a supervisory position was equivalent to 63 ounces of gold. Its easy to see if we measure the economy by gold, prices are raising and wages are falling. That’s the reason Nixon tore up the Bretton Woods agreement and floated the dollar on the United States ability to pay its debts.
While the cost of living has increased substantially, workplace wages have not kept up. In America you have 2 option upon graduating high school. The first is to go to college. The average cost of college at a state institution is $10,000.00 just for tuition. Add a couple thousand dollars for books and several thousand dollars for room and board and another couple thousand for food and entertainment, and after your fist year of college your already $25,000 in debt. Which is probably more than most 18 year old made their whole life at this point. Times that by 4, 5 or even 6 years and we have ourselves a bunch of 22 - 24 year olds with no work experience but a mountain of debt.
The second option is to enter the workforce upon graduation. Manufacturing used to take on most of these graduates and give them a good paying income with a pension and benefits. With all the free trade agreements we have now with Mexico, China and the rest of SE Asia, most manufacturing jobs are obsolete. Most options for a young 18 year old is the food industry, retail or a skilled trades job like, electrician, plumber, heating and air conditioning or mechanic. Most of these jobs start an unskilled worker at $10 or less. Jobs in the food industry and retail were originally designed for high schooler's or young graduates looking to find a skilled job. Unfortunately, these jobs have now become full-time, life long jobs for people because the opportunity to work in a good paying manufacturing job is no longer available.
Unfortunately in today's America, everything is politicized. The liberals believe that buy increasing minimum wage and making business owners, whom they like to vilify as wealthy uncaring monsters, pay, this will decrease the income disparity and everyone will be happy. Along the way they hope to open the boarders to the south and bring in a huge voting block of people and give them a good paying job at $15.00 an hr.
The conservatives believe that the business owners should have priority and tax breaks so they can expand their business and higher more people. This only works for small business. When applying this concept to corporations, who line the politicians pockets with money, ran by greedy CEO’s who have no skin in the game, they care not about the ground floor people. They have a revolving door so when the employees are dissatisfied with their low wages and lack of benefits they can easily be replaced.
Neither of these views will work though, because you need a sector where unskilled workers can go and make a decent living. At no other time in history have we ever had this issue with unskilled workers. At no other time in history have we ever carried this much debt as consumers and as a nation. At no other time in history have we printed so much money to keep the economy from crashing. At no other time in history have we abandoned physical metals that have substantial value and that has spanned the history of mankind. At no other time in history have we been lead by incompetent people in the white house, senate and congress.
What happens during the next financial crisis and skilled workers lose their jobs and have to go looking for work in the food industry and retail? What happens when all these unskilled workers lose their jobs to be replaced by skilled workers? What happens when the citizens need help from the government but the government is bankrupt?
America has turned from a great country that built stuff to a selfish country that wants stuff.
Sounds about right. What can $10 buy today:
2 dozen eggs
3 loaves of bread
4 cans of soup
1 steak
2 lbs. of ground beef
If we measured wages against something substantial like gold, you can clearly see that wages, in buying power of dollars, have been falling. In 1965 the average unskilled worker income was equivalent to 71 ounces of gold. In 2011 a workers salary in a supervisory position was equivalent to 63 ounces of gold. Its easy to see if we measure the economy by gold, prices are raising and wages are falling. That’s the reason Nixon tore up the Bretton Woods agreement and floated the dollar on the United States ability to pay its debts.
While the cost of living has increased substantially, workplace wages have not kept up. In America you have 2 option upon graduating high school. The first is to go to college. The average cost of college at a state institution is $10,000.00 just for tuition. Add a couple thousand dollars for books and several thousand dollars for room and board and another couple thousand for food and entertainment, and after your fist year of college your already $25,000 in debt. Which is probably more than most 18 year old made their whole life at this point. Times that by 4, 5 or even 6 years and we have ourselves a bunch of 22 - 24 year olds with no work experience but a mountain of debt.
The second option is to enter the workforce upon graduation. Manufacturing used to take on most of these graduates and give them a good paying income with a pension and benefits. With all the free trade agreements we have now with Mexico, China and the rest of SE Asia, most manufacturing jobs are obsolete. Most options for a young 18 year old is the food industry, retail or a skilled trades job like, electrician, plumber, heating and air conditioning or mechanic. Most of these jobs start an unskilled worker at $10 or less. Jobs in the food industry and retail were originally designed for high schooler's or young graduates looking to find a skilled job. Unfortunately, these jobs have now become full-time, life long jobs for people because the opportunity to work in a good paying manufacturing job is no longer available.
Unfortunately in today's America, everything is politicized. The liberals believe that buy increasing minimum wage and making business owners, whom they like to vilify as wealthy uncaring monsters, pay, this will decrease the income disparity and everyone will be happy. Along the way they hope to open the boarders to the south and bring in a huge voting block of people and give them a good paying job at $15.00 an hr.
The conservatives believe that the business owners should have priority and tax breaks so they can expand their business and higher more people. This only works for small business. When applying this concept to corporations, who line the politicians pockets with money, ran by greedy CEO’s who have no skin in the game, they care not about the ground floor people. They have a revolving door so when the employees are dissatisfied with their low wages and lack of benefits they can easily be replaced.
Neither of these views will work though, because you need a sector where unskilled workers can go and make a decent living. At no other time in history have we ever had this issue with unskilled workers. At no other time in history have we ever carried this much debt as consumers and as a nation. At no other time in history have we printed so much money to keep the economy from crashing. At no other time in history have we abandoned physical metals that have substantial value and that has spanned the history of mankind. At no other time in history have we been lead by incompetent people in the white house, senate and congress.
What happens during the next financial crisis and skilled workers lose their jobs and have to go looking for work in the food industry and retail? What happens when all these unskilled workers lose their jobs to be replaced by skilled workers? What happens when the citizens need help from the government but the government is bankrupt?
America has turned from a great country that built stuff to a selfish country that wants stuff.