Median Wages Have PLUMMETED Since 1969
(http://www.zerohedge.com/sites/default/files/pictures/picture-7813.jpg) (http://www.zerohedge.com/users/george-washington) Submitted by George Washington (http://www.zerohedge.com/users/george-washington) on 08/08/2012 13:44 -0400
- Unemployment (http://www.zerohedge.com/taxonomy_vtn/term/10938)
Wages need to rise to keep up with inflation, especially since the value of the dollar has been trashed:
(http://lh4.ggpht.com/_DFE3JnAqGKE/SuDU5zCQ_sI/AAAAAAAAAso/XS1ViCua7vA/Dollar-from-1913.gif.jpg) (http://www.blogger.com/%20http://lh4.ggpht.com/_DFE3JnAqGKE/SuDU5zCQ_sI/AAAAAAAAAso/XS1ViCua7vA/Dollar-from-1913.gif.jpg)
But Michael Greenstone and Adam Looney of the Hamilton Project document (http://www.hamiltonproject.org/files/downloads_and_links/07_milken_greenstone_looney.pdf) (hat tip Ezra Klein (http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/07/31/wages-arent-stagnating-theyre-plummeting/)) that real median earnings for men
declined between 1969 and 2009:
(http://www.washingtonpost.com/blogs/ezra-klein/files/2012/07/hamilton1.jpg) (http://www.washingtonpost.com/blogs/ezra-klein/files/2012/07/hamilton1.jpg)
And wages have only kept dropping (http://online.wsj.com/article/SB10001424052702304248704575574213897770830.html) since 2009.
In addition – when those who have only part-time work are taken into account – we have depression-level unemployment (http://www.washingtonsblog.com/2011/06/unemployment-during-the-great-depression-has-been-overstated-and-current-unemployment-understated-weve-now-got-depression-level-unemployment.html).
As Klein notes:
When you take all men, not just those working fulltime, into account, the slight decline in the above graph becomes a
plummet of 28 percent in median real wages from 1969 to 2009.
(http://www.washingtonpost.com/blogs/ezra-klein/files/2012/07/hamilton2.jpg) (http://www.washingtonpost.com/blogs/ezra-klein/files/2012/07/hamilton2.jpg)
The bottom line is that – due to idiotic government policy (http://www.washingtonsblog.com/2011/07/of-course-unemployment-is-rising-government-policy-is-guaranteeing-it.html) – most of the jobs being created are part-time and
low wage (http://www.zerohedge.com/news/final-nail-todays-nfp-tragicomedy-record-surge-part-time-workers) jobs.
This is something that is now hitting the entire formerly White , western world and even the former communist countries. Industry is basically moving to where profits are large and labour cheap. If the capitalists can't import cheap labour with immigrants they take the industry to the far east.
On the one hand areas of the White world are now no longer economically viable, the great lakes in the USA, northern England, scotland, east Germany and northern Russia.
http://englishrussia.com/2006/09/05/an-abandoned-city/ (http://englishrussia.com/2006/09/05/an-abandoned-city/)
These areas may remain white and immigrant free. I'd rather personally be poor in a White area than wealthy and have to look muds in the face everyday.
The worst case is this outrage of the Canadian government brazenly importing cheap coolie labour as ethnic repalcement!
http://www.mining.com/chinese-coal-mining-firms-settling-in-canada-favour-foreign-workers-report-65544/ (http://www.mining.com/chinese-coal-mining-firms-settling-in-canada-favour-foreign-workers-report-65544/)