Monday, April 25, 2011

A headline for you today

This one:

Median U.S. household income fell 5% between 1999 and 2009. Globalization remains the core problem

It's a post on the Daily Kos website.

The figures were adjusted for inflation.

Here's how it gets started:

Technologically induced productivity whose benefits are only partially (if at all) passed along to workers. Union busting. Squeezing workers to do more with less (which was something some hotshot facilitator at a management seminar once called "work smarter, not harder" before that insulting slogan went viral). Erosion of the buying power of the minimum wage. A deteriorating manufacturing base abetted by "free trade" agreements that pit Americans against workers in China, India and elsewhere who earn 10 percent at companies which can compete without bothering with safety and environmental regulations. The sum? One of the plagues of the U.S. economy during the past few decades: stagnant wages.

And here's a paragraph from a comment someone made:

And flat wages combined with high unemployment will mean a continued diminished tax base giving those who want to destroy Medicare, Social Security, and other gov programs plenty of ammo.

This is quite worrying. And I don't think it's being pointed out by the mainstream media. More's the pity.

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