Posted on 11/20/2023 9:46:51 AM PST by ChicagoConservative27
Good topic.
Imho the primary reason for the fall in real wages is the increase in kleptocracy during that period.
As government power increased the large corporations reacted by ramping up lobbyists and other “influencers” on government actors.
They had two main goals:
(1) Gain highly lucrative government contracts/subcontracts—whether military or civilian
(2) Make the rules (laws/regulations) work in their favor and harm their competitors—as well as any suppliers of goods and services (including labor).
This has been a gradual process over many decades.
The result is that the shareholders (and only a very small percentage of Americans own stock—something like 10%) were beneficiaries while everyone else in the economy was harmed.
As I said to a business colleague...we’re going to see who has been swimming naked ...when the pool gets drained.
Business has been up about 13% until this past month. Now down just about the same amount. Things are slowing down at a rapid rate.
> Those stories leave my jaw dropping. <
You haven’t heard anything yet.
I spent the last half of my career teaching physics. Well, one day my supervisor came into my room to inform me of a new policy. We teachers were no longer supposed to correct students on the day they made an error. That would hurt their self-esteem!
So let’s say I asked the class how mass relates to energy. And a student said E = mc (forgetting the square on the c). Normally I’d make a quick and gentle correction, guiding the student to the right answer.
That was now forbidden. Instead I was supposed to write E = mc on the board, then wait until the next school day to correct it. And so I’d be reinforcing a wrong answer.
To hell with that! I took a chance, and ignored the policy. And I got away with it, mainly because my supervisors had no idea what physics was all about. So they pretty much avoided my classroom.
But the History and English teachers were not so lucky. Some good teachers I worked with were fired over this nonsense.
(Sorry for the rant. But folks need to know that this woke garbage is being taught not because of the teachers, but because of woke administrators and woke university consultants. It’s the administrators and consultants who call all the shots.)
“Imho the primary reason for the fall in real wages is the increase in kleptocracy during that period.”
Yes I agree.
I would add a few more things.
In an inflationary economy (fiat) wages are always the last to rise. I.E. workers are always a couple of years behind the price increases. Thus a declining standard of living.
Wage suppression policies. Mass Legal & Illegal immigration and H1-B visa’s suppress wages. Labor is subject to supply and demand pressures like everything else.
Also as you pointed out, big business loves regulations. It strangles smaller competitors who can’t keep up with the regulations.
The Democrats pretend to care about middle class and working people but they don’t. Their solutions are always more government programs, taxing the Middle class to pay for them.
The Republican’s don’t even talk about these issues, thus ceding the issue to the rats.
Trump tried to fix this and thus the establishment is trying to destroy him.
Master of the obvious. So tell us, just when was it that the majority of U.S. adults were NOT living paycheck to paycheck? Take your time, we’ll wait, MORON!
“The Republican’s don’t even talk about these issues”
They can’t talk about the kleptocracy because they are on the payroll of the lobbyists.
Where you sit determines where you stand.
The wage suppression policies (like illegal immigration) are a function of the same kleptocracy.
I ignore what both parties say—I just watch what they do—kick average working Americans in the teeth.
“They can’t talk about the kleptocracy because they are on the payroll of the lobbyists.”
I agree. Also to a large degree they are the controlled opposition.
“I ignore what both parties say—I just watch what they do—kick average working Americans in the teeth.”
Yep.
Both parties have outlived their usefulness to the American people but not to the Davos billionaire class.
Some seen what was coming in 2020 and save up for it.
For the rest it would be better to say your an illegal and get all the free things Biden & party are handing out food clothing cell phone room at a nice hotel free medical schooling ..................................................
The socialism agenda in action
And now we know why he is a millionaire!
My FIL can be a real skin-flint...yet he is generous in helping his family and has more $ than I will ever see.
So I guess I cant knock him for being the way he is, annoying as it can be at times! God Bless Him!
Yep,
There was a golden time in the USA where if you were willing to work by the sweat of your brow you could support a family and put a little away. That was good for those who never had the opportunity or means to learn a trade or get a higher education which was the majority - including my Father. This age was at its peak after WWII till the early 70s. Now we are regressing back the way it always was... a small middle class, the wealthy few, and the working poor masses. And one wonders why so many fell for socialism/communism
They must be in debt up the wazoo.
Anyone incompetent enough to be stretched on income of $100,000+ gets zero sympathy from me.
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