How we’ve dealt with stagnant wages

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beats me
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How we’ve dealt with stagnant wages

Post by beats me » Mon Mar 03, 2014 6:26 pm

Watched Inequality for All this past weekend. Since the late 70’s middle class wages haven’t increased when adjusted for inflation. Some have even decreased. So what we’ve done to compensate as a society.

1. Women joined the workforce at a greater capacity.
2. Working longer hours/having more than one job.
3. Abuse the shit out of credit.

This all seems quite normal now, but this is all just to maybe have a lifestyle you could have had prior to the late 70’s with a single income household, 40 hours a week standard, and very little debt.

Oh, and savings? What is that?

FFS. :x

Vivo
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Re: How we’ve dealt with stagnant wages

Post by Vivo » Tue Mar 04, 2014 7:49 am

http://www.youtube.com/watch?v=Npj2U1PdIhI

A country without unions and regulations looks like China, a disaster.

http://world.time.com/2014/02/26/china- ... eavy-smog/

Image

Samuel L. Jizzle
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Re: How we’ve dealt with stagnant wages

Post by Samuel L. Jizzle » Tue Mar 04, 2014 9:16 am

beats me wrote:1. Women joined the workforce at a greater capacity.
2. Working longer hours/having more than one job.
3. Abuse the shit out of credit.

This all seems quite normal now, but this is all just to maybe have a lifestyle you could have had prior to the late 70’s with a single income household, 40 hours a week standard, and very little debt.

Oh, and savings? What is that?

FFS. :x
If you dramatically increase the supply of something (in this case labour), its price will always fall equally dramatically, all other things remaining equal. Of course, with the influx of female labour, not only did the value of all labour decrease, but so did the number of hours available to each household to consume (i.e., shop). Hence, one could speculate that demand for labour was also negatively impacted, thus further reducing its value.

In addition, as women began working en masse, the responsibility of educating their offspring became increasingly delegated to third parties, be it to public or private schools, or private tutors. The family unit was thus weakened, which destabilised and corrupted society and helped the banksters push their everything-for-nothing credit policy and... well, you know the rest.

Thus was created a generation of debt slaves.

Now excuse me as I engage in a 4 hour Sonic All-Stars Racing Transformed marathon on a work day.

:x

beats me
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Re: How we’ve dealt with stagnant wages

Post by beats me » Tue Mar 04, 2014 2:30 pm

They also interviewed a multimillionaire or possibly billionaire who admitted he and his ilk aren’t job creators, interesting because he actually ran a company that employs people, but his point was he only needs 1 car and 3 pairs of jeans will last him awhile. He’s not spending a lot of money and therefore not stimulating job growth down the food chain. The middle class is the biggest consumer class that actually creates jobs and makes a healthy economy.

He also only paid 11% tax on an 8 figure income while the average is about 30% for the middle class people they interviewed.

:x

Samuel L. Jizzle
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Re: How we’ve dealt with stagnant wages

Post by Samuel L. Jizzle » Tue Mar 04, 2014 3:22 pm

beats me wrote:They also interviewed a multimillionaire or possibly billionaire who admitted he and his ilk aren’t job creators, interesting because he actually ran a company that employs people, but his point was he only needs 1 car and 3 pairs of jeans will last him awhile. He’s not spending a lot of money and therefore not stimulating job growth down the food chain. The middle class is the biggest consumer class that actually creates jobs and makes a healthy economy.

He also only paid 11% tax on an 8 figure income while the average is about 30% for the middle class people they interviewed.

:x
This is fallacious. Not spending now is simply spending delayed. Nobody is actually burying their gold and burning the map. This is actually how wealth is created—by saving—and we'd all be much better off if we spent less. Didn't you yourself recently lament that no one saves any more?

Meanwhile, I just noticed that KRK have their 3rd generation Rokits out...

:x

beats me
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Re: How we’ve dealt with stagnant wages

Post by beats me » Tue Mar 04, 2014 4:55 pm

I do have a savings account that I put money into frequently, but I also take money out of it to pay for medium ticket items that I don’t want to use credit (pay interest on). I don’t use my credit cards if I can’t pay it off in full the next month. I haven’t paid interest to any institution in about 5 years. It’s like flushing your money down the toilet, but I understand there are some things like a car or house that most people can’t pay for in full with cash. My car is paid off and I rent. But I’m about due for a new (used) car and I’m not looking forward to shelling out interest. The payment will also cut back on my ability to save.

But even with savings I’m not under any kind of delusion that I’m saving for a big ticket item like a house. It’s just not going to happen with my pay compared to inflation and ridiculous house prices. My annual raise about coincides with my annual rent increase so I’m maybe making an extra $40 a month.

Sure there are things I buy that I don’t need but I also don’t live outside my (immediate) means and believe you should live a little while you have the ability.

Samuel L. Jizzle
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Re: How we’ve dealt with stagnant wages

Post by Samuel L. Jizzle » Tue Mar 04, 2014 5:02 pm

True dat. And as you rightly note, our ability to save has been hurt by the direction the job market has taken since the 60s-70s...

Still.

beats me
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Re: How we’ve dealt with stagnant wages

Post by beats me » Tue Mar 04, 2014 5:24 pm

I also believe a lot of people’s retirement plan involves their relatives passing away. I probably won’t live in a house until my parents pass away and leave me theirs.

On that note my parents are retired public school teachers, widely acknowledged as a low/under paid career. In the 70’s they bought a 3 bedroom/2 bathroom house. By the 80’s they remodeled it into a 5 bedroom/4 bathroom/ 2 story house. On teacher’s salaries. With their pension now I’m pretty positive they are still making more than my fully employed ass and my pension with my current company consists entirely of me putting money into a 401k. If I don’t do that if I spent another 25 years here I would walk away with nothing but social security…if that hasn’t collapsed.

Sage
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Re: How we’ve dealt with stagnant wages

Post by Sage » Tue Mar 04, 2014 5:28 pm

Samuel L. Jizzle wrote:In addition, as women began working en masse, the responsibility of educating their offspring became increasingly delegated to third parties, be it to public or private schools, or private tutors. The family unit was thus weakened, which destabilised and corrupted society and helped the banksters push their everything-for-nothing credit policy and... well, you know the rest.
So how do you account for upper/middle class parents who send their children do boarding schools and have done for centuries?

lowshelf
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Re: How we’ve dealt with stagnant wages

Post by lowshelf » Tue Mar 04, 2014 5:50 pm

Survival is the new prosperity.
Now playing: Katy Perry's "I Liked a Jizzle Post".

Samuel L. Jizzle
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Re: How we’ve dealt with stagnant wages

Post by Samuel L. Jizzle » Tue Mar 04, 2014 6:06 pm

@beats, it will collapse.

@sage, clearly models of healthy human beings. :roll:

@lowself, I youtubed it, but couldn't find it. This is frustrating, as I usually like her work. :x

doghouse
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Re: How we’ve dealt with stagnant wages

Post by doghouse » Tue Mar 04, 2014 6:49 pm

Let me put it into a music perspective.

I was playing club gigs in the Boston area back in the early 1980s for $30 a night (5 piece band, $150 total). Thirty years later I play those exact same clubs and still get $30.

BTW according to the IRS my expense for mileage and tolls to play those $30 gigs is $40 8O

Hoping to be dead before the sh** really hits the fan.

beats me
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Re: How we’ve dealt with stagnant wages

Post by beats me » Tue Mar 04, 2014 7:00 pm

doghouse wrote:Let me put it into a music perspective.

I was playing club gigs in the Boston area back in the early 1980s for $30 a night (5 piece band, $150 total). Thirty years later I play those exact same clubs and still get $30.

BTW according to the IRS my expense for mileage and tolls to play those $30 gigs is $40 8O

Hoping to be dead before the sh** really hits the fan.

Well I guess you’re at least not getting paid in “possible exposure to future opportunities!” :x

Sage
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Re: How we’ve dealt with stagnant wages

Post by Sage » Tue Mar 04, 2014 7:24 pm

Samuel L. Jizzle wrote:@sage, clearly models of healthy human beings. :roll:
That is the whole point, there is no real idea about how best to raise children, a lot of it is just prejudice and propaganda.

Traditionally children from rich backgrounds were sent away to be educated and those from poor families went to work, so perhaps the modern idea of the family unit is actually flawed and the root of all these problems?

Just as many holes in that logic as there was in yours.

Samuel L. Jizzle
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Re: How we’ve dealt with stagnant wages

Post by Samuel L. Jizzle » Tue Mar 04, 2014 7:47 pm

Riiiiiiight. You seem to have missed the point of your argument.
Last edited by Samuel L. Jizzle on Tue Mar 04, 2014 7:49 pm, edited 1 time in total.

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