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  • July 30, 2010 at 11:07 AM #17775
    dbapig
    Participant

    All pigs should read this. Very interesting stats.

    Sobering stat re the US Middle Class.

    http://finance.yahoo.com/tech-ticker/the-u.s.-middle-class-is-being-wiped-out-here%27s-the-stats-to-prove-it-520657.html?tickers=DJI,GSPC,SPY,MCD,WMT,XRT,DIA

    “The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.”

    And one very interesting post by a reader. He says
    “These statistics are the exact same numbers that I was taught in high school in the late 80’s… but at that time we were discussing Haiti and other 3rd world countries.”

    July 30, 2010 at 11:52 AM #584461
    Arraya
    Participant

    See, some economic policies do work. Americans were greedy, lazy and needed to be taught a lesson. Next, there is a few million state workers that are greedy, lazy and need to be taught a lesson. Hopefully, when all is said and done, they can all sit around talk about what they did wrong. If that does not work, we will have to take away all benefits, such as food stamps, welfare and UE benefits to teach them the virtues of remaining competitive in a global market. They need to learn that there is no such thing as a free lunch. It will be good for them, I can see it now

    July 30, 2010 at 11:52 AM #584552
    Arraya
    Participant

    See, some economic policies do work. Americans were greedy, lazy and needed to be taught a lesson. Next, there is a few million state workers that are greedy, lazy and need to be taught a lesson. Hopefully, when all is said and done, they can all sit around talk about what they did wrong. If that does not work, we will have to take away all benefits, such as food stamps, welfare and UE benefits to teach them the virtues of remaining competitive in a global market. They need to learn that there is no such thing as a free lunch. It will be good for them, I can see it now

    July 30, 2010 at 11:52 AM #585088
    Arraya
    Participant

    See, some economic policies do work. Americans were greedy, lazy and needed to be taught a lesson. Next, there is a few million state workers that are greedy, lazy and need to be taught a lesson. Hopefully, when all is said and done, they can all sit around talk about what they did wrong. If that does not work, we will have to take away all benefits, such as food stamps, welfare and UE benefits to teach them the virtues of remaining competitive in a global market. They need to learn that there is no such thing as a free lunch. It will be good for them, I can see it now

    July 30, 2010 at 11:52 AM #585196
    Arraya
    Participant

    See, some economic policies do work. Americans were greedy, lazy and needed to be taught a lesson. Next, there is a few million state workers that are greedy, lazy and need to be taught a lesson. Hopefully, when all is said and done, they can all sit around talk about what they did wrong. If that does not work, we will have to take away all benefits, such as food stamps, welfare and UE benefits to teach them the virtues of remaining competitive in a global market. They need to learn that there is no such thing as a free lunch. It will be good for them, I can see it now

    July 30, 2010 at 11:52 AM #585498
    Arraya
    Participant

    See, some economic policies do work. Americans were greedy, lazy and needed to be taught a lesson. Next, there is a few million state workers that are greedy, lazy and need to be taught a lesson. Hopefully, when all is said and done, they can all sit around talk about what they did wrong. If that does not work, we will have to take away all benefits, such as food stamps, welfare and UE benefits to teach them the virtues of remaining competitive in a global market. They need to learn that there is no such thing as a free lunch. It will be good for them, I can see it now

    July 30, 2010 at 11:53 AM #584476
    SK in CV
    Participant

    I think the diagnosis is accurate. The middle class is shrinking at an alarming rate. The concentration of wealth among the top 5% over the last 30 years is staggering.

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts

    July 30, 2010 at 11:53 AM #584567
    SK in CV
    Participant

    I think the diagnosis is accurate. The middle class is shrinking at an alarming rate. The concentration of wealth among the top 5% over the last 30 years is staggering.

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts

    July 30, 2010 at 11:53 AM #585103
    SK in CV
    Participant

    I think the diagnosis is accurate. The middle class is shrinking at an alarming rate. The concentration of wealth among the top 5% over the last 30 years is staggering.

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts

    July 30, 2010 at 11:53 AM #585211
    SK in CV
    Participant

    I think the diagnosis is accurate. The middle class is shrinking at an alarming rate. The concentration of wealth among the top 5% over the last 30 years is staggering.

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts

    July 30, 2010 at 11:53 AM #585513
    SK in CV
    Participant

    I think the diagnosis is accurate. The middle class is shrinking at an alarming rate. The concentration of wealth among the top 5% over the last 30 years is staggering.

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts

    July 30, 2010 at 12:08 PM #584486
    Arraya
    Participant

    [quote=SK in CV]

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts%5B/quote%5D

    Quite possibly, the concentration of the top few percent is correlated to both. It’s a non-linear and inter-connected world.

    Corporation A moves mfg to China, labor costs drop to a fifth, CEO’s and management’s pay skyrockets, US labor replaces job with wall mart sales associate @ half the amount…. Voila!

    Former middle class replaces wages with debt to keep up consumption…Debt bubble collapse…which brings to about now.

    July 30, 2010 at 12:08 PM #584577
    Arraya
    Participant

    [quote=SK in CV]

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts%5B/quote%5D

    Quite possibly, the concentration of the top few percent is correlated to both. It’s a non-linear and inter-connected world.

    Corporation A moves mfg to China, labor costs drop to a fifth, CEO’s and management’s pay skyrockets, US labor replaces job with wall mart sales associate @ half the amount…. Voila!

    Former middle class replaces wages with debt to keep up consumption…Debt bubble collapse…which brings to about now.

    July 30, 2010 at 12:08 PM #585113
    Arraya
    Participant

    [quote=SK in CV]

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts%5B/quote%5D

    Quite possibly, the concentration of the top few percent is correlated to both. It’s a non-linear and inter-connected world.

    Corporation A moves mfg to China, labor costs drop to a fifth, CEO’s and management’s pay skyrockets, US labor replaces job with wall mart sales associate @ half the amount…. Voila!

    Former middle class replaces wages with debt to keep up consumption…Debt bubble collapse…which brings to about now.

    July 30, 2010 at 12:08 PM #585221
    Arraya
    Participant

    [quote=SK in CV]

    However, the conclusion that it is related to globalization is unclear. Correlation and causation are two different things. I’m not even sure that a good case for correlation has been made.

    There is much stronger correlation between the decline of the middle class and concentration of wealth among the top few percent originating with the fiscal and regulatory policies of the 80’s.

    http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts%5B/quote%5D

    Quite possibly, the concentration of the top few percent is correlated to both. It’s a non-linear and inter-connected world.

    Corporation A moves mfg to China, labor costs drop to a fifth, CEO’s and management’s pay skyrockets, US labor replaces job with wall mart sales associate @ half the amount…. Voila!

    Former middle class replaces wages with debt to keep up consumption…Debt bubble collapse…which brings to about now.

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