[Southack]

"My statement, of course, was that real wages are lower today than they were in the mid 1970's."

Ha! You wish that's what you had said. That would let you cherry pick the data to compare the abnormal spike in average U.S. wages caused by the stagflation and high UNemployment of the 1970's (which impacts what the remaining employed average workers earn) to today.

But what you actually said was simply that U.S. wages were really declining, which is false.

Here's your post #20 to confirm:

To: Southack

All it means is that the world is awash in surplus labor - expect more offshoring to take advantage of the wage differential and a concomitant decline in American real wages. BTW, real wages are falling.

20 posted on 03/20/2004 4:04:14 PM CST by sarcasm (Tancredo 2004)

All it means is that the world is awash in surplus labor - expect more offshoring to take advantage of the wage differential and a concomitant decline in American real wages. BTW, real wages are falling.

[sarcasm]

I see that you are now admitting that there has been a decline in real wages since the 1970's. I also stand by my comment about wages being in decline right now - I simply do not believe that CPI reflects the cost of living since Clinton era changes in the way it is computed. I fully expect that you will now be defending Clinton and his regime.

BTW, you still haven't answered my question: please explain how we are so much "richer" when real wages are lower.