LET’S PAY AMERICANS AS LITTLE AS POSSIBLE
AND SEE WHAT HAPPENS—SOCIAL UNREST WON’T BE A PROBLEM BECAUSE, SINCE 9/11, WE NOW HAVE A NATIONAL SECURITY STATE EQUIPPED WITH ALL THE TOOLS TO KEEP PEOPLE IN LINE—INCLUDING MILITARIZED POLICE
What are the consequences of a policy of squeezing the pay of the American worker? We don’t have to guess. The evidence is in plain sight. Here are some of them.
- SLOW ECONOMIC GROWTH RESULTING FROM INADEQUATE DEMAND.
- DECLINING MIDDLE-CLASS
- RISING STRESS
- RISING CONSUMER DEBT
- DE-MOTIVATED WORKERS.
- POOR PRODUCTIVITY
- DECLINING INTERNATIONAL COMPETITIVENESS
- TRADE DEFICIT
- LABOR UNREST
- INCOME INEQUALITY
- SOCIAL UNREST
- POLITICAL INSTABILITY
- HEALTH ISSUES
- RISING HEALTCARE COSTS
- REDUCED LONGEVITY.
This is what that excellent website http://www.mybudget360.com/ has to say about this disastrous policy.
The employment report continues to provide deceptive bread and circus fodder for the mainstream press. Never is any thorough analysis given to the 93+ million Americans that are now part of the “not in the labor force” category. In large part, we have a low unemployment rate because this massive army of Americans is simply not counted in the employment report. Then, if you dig deeper into the report you realize that a wide spectrum of Americans are now part of thelow wage economy. The “recovery” in terms of jobs can be summed up as follows: tons of low paying work, a shrinking of middle class jobs, and few jobs at the top. It is a crony salad bowl of financial incentives to the banking sector while turning a large portion of the country into modern day debt serfs. You need debt to keep up. Good debt (i.e., mortgages) is now tougher to get since banks have crowded out regular families in buying homes. Junk debt (i.e., auto loans) is easy to get and you can simply drive down to your local car dealer and drive away with a new car. With that said, the US has a massive number of workers employed in what are known as low wage jobs. The number is surprising when compared to other nations.
The low wage revolution
There is more to your pay than your hourly rate. Many people have faced the multi-faceted attack on their living standards via:
-rising healthcare costs shifted to workers
-the destruction of pensions
In other words, most financial decisions have been shifted onto an already poorer nation. In many cases profits have been on the rise in Wall Street because of stagnant wages and the deep cutting of benefits. The US now has a large portion of its labor force in low wage jobs. This is problematic when the cost of housing, healthcare, cars, energy, and college all seem to be rising at breathtaking speed.