Home › Forums › Financial Markets/Economics › A conspiracy set to crash
- This topic has 24 replies, 4 voices, and was last updated 17 years, 2 months ago by Allan from Fallbrook.
-
AuthorPosts
-
August 23, 2007 at 8:51 AM #9993August 23, 2007 at 9:53 AM #79656stansdParticipant
We’re off to see the Wizard, The Wonderful Wizard of Oz.
You’ll find he is a whiz of a Wiz! If ever a Wiz! there was.
If ever oh ever a Wiz! there was The Wizard of Oz is one becoz,
Becoz, becoz, becoz, becoz, becoz.
Becoz of the wonderful things he does.I Think you’ve watched conspiracy theory one too many times.
Stan
August 23, 2007 at 9:53 AM #79785stansdParticipantWe’re off to see the Wizard, The Wonderful Wizard of Oz.
You’ll find he is a whiz of a Wiz! If ever a Wiz! there was.
If ever oh ever a Wiz! there was The Wizard of Oz is one becoz,
Becoz, becoz, becoz, becoz, becoz.
Becoz of the wonderful things he does.I Think you’ve watched conspiracy theory one too many times.
Stan
August 23, 2007 at 9:53 AM #79807stansdParticipantWe’re off to see the Wizard, The Wonderful Wizard of Oz.
You’ll find he is a whiz of a Wiz! If ever a Wiz! there was.
If ever oh ever a Wiz! there was The Wizard of Oz is one becoz,
Becoz, becoz, becoz, becoz, becoz.
Becoz of the wonderful things he does.I Think you’ve watched conspiracy theory one too many times.
Stan
August 23, 2007 at 10:32 AM #79729LostCatParticipantLostCat
And you’ve watched the wizard of ozz about 400 times too many.
August 23, 2007 at 10:32 AM #79879LostCatParticipantLostCat
And you’ve watched the wizard of ozz about 400 times too many.
August 23, 2007 at 10:32 AM #79857LostCatParticipantLostCat
And you’ve watched the wizard of ozz about 400 times too many.
August 23, 2007 at 10:34 AM #79863LostCatParticipantLostCat
By: STEVE LAWRENCE – Associated Press
SACRAMENTO — The income gap between the richest and poorest Californians is growing while the growth in middle-income jobs is slowing, according to a report released Wednesday by the California Budget Project.
The report, called A Generation of Widening Inequality, examined changes in California’s economy between 1979 and 2006.
It found that most of the state’s job growth during that period took place at the ends of the income scale. Nearly 28 percent of the new jobs went to the lowest fifth of wage earners while another 28 percent went to those in the top wage bracket.
In contrast, only 6 percent of new jobs were in the second fifth and 14 percent were in the third highest bracket.
The trend has increased in recent years, with more than two out of every three new jobs between 1999 and 2005 created at either the top or bottom of the pay scale. At the same time, the state lost jobs in the second highest wage bracket.
“A significant faction of California’s work force is falling behind,” said Jean Ross, executive director of the Sacramento-based nonpartisan group. “The rising tide has left some boats high and dry.”
Incomes of workers in the highest bracket jumped 18.4 percent between 1979 and 2006 while those in the middle saw their wages grow by only 1.3 percent. The state’s lowest-paid workers actually lost 7.2 percent in earnings when inflation was taken into account, the report said.
In 1979, the wealthiest hourly workers in California and the U.S. made 2.4 times as much as their poorest counterparts. By 2006 that gap had increased to 3.1 times in California compared to 2.7 times nationally, according to the report.
Ross said that “a lot of different factors,” including federal tax policies, a loss of manufacturing jobs and an increase of lower-paying service-sector jobs had contributed to the widening gap.
“It’s a very complex picture,” she said. “You can’t go out and say there’s one factor that’s responsible for what’s going on in the economy.”
The weak growth in middle-income jobs would make it harder for low-income workers to improve their lots, Ross said.
She said automatic increases in the minimum wage to keep up with inflation, an earned income tax credit for low-wage workers and improving the state’s schools and job training programs would help close the gap.
“The best way to attract high-wage jobs, good jobs, to California is by making sure that the education system turns out well-trained workers,” she said. “In the short term, people follow jobs. But in the long term, jobs tend to follow workers. Employers will go where they find a highly educated work force.”
She said education isn’t a sure cure. One of the “troubling trends” found by the study was that earnings of young college graduates did not keep pace with inflation between 2000 and 2006, Ross said.
Art Pulaski, executive secretary-treasurer of the California Labor Federation, said the report demonstrates the need for federal tax policies that reward companies that keep jobs in the U.S.
He also said corporations should rethink their policies and shift more of their wages to lower- and middle-income workers.
“The middle class is disappearing,” he said. “We’re losing out on wages and somebody else is gaining, and that somebody else is primarily the executives and businesses. The good jobs are being sent overseas, and more and more what we’re seeing is service sector jobs, which tend to be lower-wage jobs.”
Vince Sollitto, a spokesman for the California Chamber of Commerce, said the report’s findings demonstrate the value of enterprise zone programs that give businesses tax breaks for locating in distressed areas.
He said it also “reinforces the danger of imposing unique, California-only mandates on business.”
The report did find that the wage gap between men and women in California had narrowed. The typical woman made 87 cents for every dollar made by her male counterpart in 2006, compared to 63 cents for every dollar in 1979.
August 23, 2007 at 10:34 AM #79884LostCatParticipantLostCat
By: STEVE LAWRENCE – Associated Press
SACRAMENTO — The income gap between the richest and poorest Californians is growing while the growth in middle-income jobs is slowing, according to a report released Wednesday by the California Budget Project.
The report, called A Generation of Widening Inequality, examined changes in California’s economy between 1979 and 2006.
It found that most of the state’s job growth during that period took place at the ends of the income scale. Nearly 28 percent of the new jobs went to the lowest fifth of wage earners while another 28 percent went to those in the top wage bracket.
In contrast, only 6 percent of new jobs were in the second fifth and 14 percent were in the third highest bracket.
The trend has increased in recent years, with more than two out of every three new jobs between 1999 and 2005 created at either the top or bottom of the pay scale. At the same time, the state lost jobs in the second highest wage bracket.
“A significant faction of California’s work force is falling behind,” said Jean Ross, executive director of the Sacramento-based nonpartisan group. “The rising tide has left some boats high and dry.”
Incomes of workers in the highest bracket jumped 18.4 percent between 1979 and 2006 while those in the middle saw their wages grow by only 1.3 percent. The state’s lowest-paid workers actually lost 7.2 percent in earnings when inflation was taken into account, the report said.
In 1979, the wealthiest hourly workers in California and the U.S. made 2.4 times as much as their poorest counterparts. By 2006 that gap had increased to 3.1 times in California compared to 2.7 times nationally, according to the report.
Ross said that “a lot of different factors,” including federal tax policies, a loss of manufacturing jobs and an increase of lower-paying service-sector jobs had contributed to the widening gap.
“It’s a very complex picture,” she said. “You can’t go out and say there’s one factor that’s responsible for what’s going on in the economy.”
The weak growth in middle-income jobs would make it harder for low-income workers to improve their lots, Ross said.
She said automatic increases in the minimum wage to keep up with inflation, an earned income tax credit for low-wage workers and improving the state’s schools and job training programs would help close the gap.
“The best way to attract high-wage jobs, good jobs, to California is by making sure that the education system turns out well-trained workers,” she said. “In the short term, people follow jobs. But in the long term, jobs tend to follow workers. Employers will go where they find a highly educated work force.”
She said education isn’t a sure cure. One of the “troubling trends” found by the study was that earnings of young college graduates did not keep pace with inflation between 2000 and 2006, Ross said.
Art Pulaski, executive secretary-treasurer of the California Labor Federation, said the report demonstrates the need for federal tax policies that reward companies that keep jobs in the U.S.
He also said corporations should rethink their policies and shift more of their wages to lower- and middle-income workers.
“The middle class is disappearing,” he said. “We’re losing out on wages and somebody else is gaining, and that somebody else is primarily the executives and businesses. The good jobs are being sent overseas, and more and more what we’re seeing is service sector jobs, which tend to be lower-wage jobs.”
Vince Sollitto, a spokesman for the California Chamber of Commerce, said the report’s findings demonstrate the value of enterprise zone programs that give businesses tax breaks for locating in distressed areas.
He said it also “reinforces the danger of imposing unique, California-only mandates on business.”
The report did find that the wage gap between men and women in California had narrowed. The typical woman made 87 cents for every dollar made by her male counterpart in 2006, compared to 63 cents for every dollar in 1979.
August 23, 2007 at 10:34 AM #79735LostCatParticipantLostCat
By: STEVE LAWRENCE – Associated Press
SACRAMENTO — The income gap between the richest and poorest Californians is growing while the growth in middle-income jobs is slowing, according to a report released Wednesday by the California Budget Project.
The report, called A Generation of Widening Inequality, examined changes in California’s economy between 1979 and 2006.
It found that most of the state’s job growth during that period took place at the ends of the income scale. Nearly 28 percent of the new jobs went to the lowest fifth of wage earners while another 28 percent went to those in the top wage bracket.
In contrast, only 6 percent of new jobs were in the second fifth and 14 percent were in the third highest bracket.
The trend has increased in recent years, with more than two out of every three new jobs between 1999 and 2005 created at either the top or bottom of the pay scale. At the same time, the state lost jobs in the second highest wage bracket.
“A significant faction of California’s work force is falling behind,” said Jean Ross, executive director of the Sacramento-based nonpartisan group. “The rising tide has left some boats high and dry.”
Incomes of workers in the highest bracket jumped 18.4 percent between 1979 and 2006 while those in the middle saw their wages grow by only 1.3 percent. The state’s lowest-paid workers actually lost 7.2 percent in earnings when inflation was taken into account, the report said.
In 1979, the wealthiest hourly workers in California and the U.S. made 2.4 times as much as their poorest counterparts. By 2006 that gap had increased to 3.1 times in California compared to 2.7 times nationally, according to the report.
Ross said that “a lot of different factors,” including federal tax policies, a loss of manufacturing jobs and an increase of lower-paying service-sector jobs had contributed to the widening gap.
“It’s a very complex picture,” she said. “You can’t go out and say there’s one factor that’s responsible for what’s going on in the economy.”
The weak growth in middle-income jobs would make it harder for low-income workers to improve their lots, Ross said.
She said automatic increases in the minimum wage to keep up with inflation, an earned income tax credit for low-wage workers and improving the state’s schools and job training programs would help close the gap.
“The best way to attract high-wage jobs, good jobs, to California is by making sure that the education system turns out well-trained workers,” she said. “In the short term, people follow jobs. But in the long term, jobs tend to follow workers. Employers will go where they find a highly educated work force.”
She said education isn’t a sure cure. One of the “troubling trends” found by the study was that earnings of young college graduates did not keep pace with inflation between 2000 and 2006, Ross said.
Art Pulaski, executive secretary-treasurer of the California Labor Federation, said the report demonstrates the need for federal tax policies that reward companies that keep jobs in the U.S.
He also said corporations should rethink their policies and shift more of their wages to lower- and middle-income workers.
“The middle class is disappearing,” he said. “We’re losing out on wages and somebody else is gaining, and that somebody else is primarily the executives and businesses. The good jobs are being sent overseas, and more and more what we’re seeing is service sector jobs, which tend to be lower-wage jobs.”
Vince Sollitto, a spokesman for the California Chamber of Commerce, said the report’s findings demonstrate the value of enterprise zone programs that give businesses tax breaks for locating in distressed areas.
He said it also “reinforces the danger of imposing unique, California-only mandates on business.”
The report did find that the wage gap between men and women in California had narrowed. The typical woman made 87 cents for every dollar made by her male counterpart in 2006, compared to 63 cents for every dollar in 1979.
August 23, 2007 at 11:18 AM #79783Allan from FallbrookParticipantWhere have we heard all of this before?
Oh, yeah. During the 1970s we had stagflation, oil shocks and the rising dominance of the Soviet “empire”.
During the 1980s we had Japan, Inc. and their newfound wealth, coupled with their plan to dominate the world (starting with their purchase of Pebble Beach and Rockefeller Center).
During the late 1990s we had the rise of China and the Asian Tiger economies.
Not to pooh pooh any of what you are saying, because we do face serious challenges as a country and an economy, but if you think India and China are serious competition to the US in the near run, you are horribly misinformed.
Do a little research about the state of China’s economy, specifically as it relates to their ability to develop adequate accounting, finance and legal standards, as well as their marked inability to maintain a stable management corps of talent.
India is facing problems with corruption, infrastructure issues, and a skyrocketing cost of labor.
Russia? Iran? Please. Russia’s supposed power is simply a function of their over-reliance on very finite natural resources (gas and oil) and their shakedown of Western Europe by selling same. Putin is a thug, nothing more.
Iran is a regional power, if that, and faces a brewing internal revolution from an informed citizenry that is becoming ever more dissatisfied with Iran’s hard line approach in the region and the world.
Too many conspiracy theories and not enough objective reading of both current affairs and past history.
August 23, 2007 at 11:18 AM #79912Allan from FallbrookParticipantWhere have we heard all of this before?
Oh, yeah. During the 1970s we had stagflation, oil shocks and the rising dominance of the Soviet “empire”.
During the 1980s we had Japan, Inc. and their newfound wealth, coupled with their plan to dominate the world (starting with their purchase of Pebble Beach and Rockefeller Center).
During the late 1990s we had the rise of China and the Asian Tiger economies.
Not to pooh pooh any of what you are saying, because we do face serious challenges as a country and an economy, but if you think India and China are serious competition to the US in the near run, you are horribly misinformed.
Do a little research about the state of China’s economy, specifically as it relates to their ability to develop adequate accounting, finance and legal standards, as well as their marked inability to maintain a stable management corps of talent.
India is facing problems with corruption, infrastructure issues, and a skyrocketing cost of labor.
Russia? Iran? Please. Russia’s supposed power is simply a function of their over-reliance on very finite natural resources (gas and oil) and their shakedown of Western Europe by selling same. Putin is a thug, nothing more.
Iran is a regional power, if that, and faces a brewing internal revolution from an informed citizenry that is becoming ever more dissatisfied with Iran’s hard line approach in the region and the world.
Too many conspiracy theories and not enough objective reading of both current affairs and past history.
August 23, 2007 at 11:18 AM #79934Allan from FallbrookParticipantWhere have we heard all of this before?
Oh, yeah. During the 1970s we had stagflation, oil shocks and the rising dominance of the Soviet “empire”.
During the 1980s we had Japan, Inc. and their newfound wealth, coupled with their plan to dominate the world (starting with their purchase of Pebble Beach and Rockefeller Center).
During the late 1990s we had the rise of China and the Asian Tiger economies.
Not to pooh pooh any of what you are saying, because we do face serious challenges as a country and an economy, but if you think India and China are serious competition to the US in the near run, you are horribly misinformed.
Do a little research about the state of China’s economy, specifically as it relates to their ability to develop adequate accounting, finance and legal standards, as well as their marked inability to maintain a stable management corps of talent.
India is facing problems with corruption, infrastructure issues, and a skyrocketing cost of labor.
Russia? Iran? Please. Russia’s supposed power is simply a function of their over-reliance on very finite natural resources (gas and oil) and their shakedown of Western Europe by selling same. Putin is a thug, nothing more.
Iran is a regional power, if that, and faces a brewing internal revolution from an informed citizenry that is becoming ever more dissatisfied with Iran’s hard line approach in the region and the world.
Too many conspiracy theories and not enough objective reading of both current affairs and past history.
August 23, 2007 at 12:11 PM #79830JESParticipantWe all know that the entire thing is being coordinated by a few smart Jewish guys in the same way that they created 9/11. Everybody knows that…
August 23, 2007 at 12:11 PM #79959JESParticipantWe all know that the entire thing is being coordinated by a few smart Jewish guys in the same way that they created 9/11. Everybody knows that…
-
AuthorPosts
- You must be logged in to reply to this topic.