Looky here. Perhaps your lefty source didn't tell the entire story.
Posted on 02/18/2005 9:55:18 AM PST by Willie Green
Your source is 2003.
You cite the Census Bureau as a leftist source and I agree. Nobody ever cites a stock market bubble or trough as a source of national wealth. Go figure. Those two phenomena are our own ups and downs. Sh^t happens when you are a free society.
Actually, his source was EPI, lefty "Think" tank.
Well good. I don't have a clue.
Funny you should mention that, I'm an IT manager myself, and business has never been better. My salary hasn't gone down since 2000, only up, and I've only added new employees. On my team alone, since 2000 I've added 5 additional guys or a 16% increase. What I have seen is the guys who were posers be exposed and have to move on to other careers, lost about 5 of those who were replaced.
Now there's a new "bubble", real estate. And we're talking huge dollars there, property values in some areas around here have doubled in the last 24 months, as ridiculous as it sounds. I know one agent personally that just sold an $800,000 lot, he took home close to 50K on that one transaction, so there are still "bubbles" out there, although they may be may be moving around.
High tech (not just IT) and real estate are still the drivers in this economy, along with the speculators. Unfortunately, not a lot of people have the priveledge or expertise to work in those fields. That's why the median is going down, the blue collar workers are getting hammered. Our middle class is seeing lower income, reduced benefits, and higher food and fuel costs. I'm glad I'm not personally in the trenches, but I do feel for those that are. If you don't own property, or have an advanced education and skillset, you're competing against practical slave labor in China. It's not a battle you're going to win.
I had no idea, it was the first link that came up. Facts are facts though, and this one shows incomes dropping, and all you've offered in counter is a smear.
Haven't found a better source, yet, but I noticed your source talked about household income, not household after tax income.
Do you think that the tax cuts since 2001 might have increased median after tax income?
Like I already said, if you have a better, no make that ANY source showing incomes are rising, let's see it. Thx.
Be more careful with the sites you link to. You wouldn't want to catch something nasty from a liberal site.
Congratulations to you. Why, in your ongoing prosperity, do you seem to condemn the Bush economic policy? (If I am wrong about that let me know.)
Now there's a new "bubble", real estate. And we're talking huge dollars there, property values in some areas around here have doubled in the last 24 months, as ridiculous as it sounds. I know one agent personally that just sold an $800,000 lot, he took home close to 50K on that one transaction, so there are still "bubbles" out there, although they may be may be moving around.
No doubt. In 1980, when I was a junior bond salesman for a major Southeastern bank I was absolutely beholden to the traders we had. They were gods and we were only people. I was using a preferencial bank financing scheme to buy my first house. The trader who I had the most faith in and the closest relationship with came over to my desk and said: "I can't believe you're buying a house at the top of the market."
I bought that house for 63,000 dollars. Today, after a 70'000$ addition it is worth $500,000.
High tech (not just IT) and real estate are still the drivers in this economy, along with the speculators. Unfortunately, not a lot of people have the priveledge or expertise to work in those fields. That's why the median is going down, the blue collar workers are getting hammered. Our middle class is seeing lower income, reduced benefits, and higher food and fuel costs. I'm glad I'm not personally in the trenches, but I do feel for those that are. If you don't own property, or have an advanced education and skillset, you're competing against practical slave labor in China. It's not a battle you're going to win.
Sorry. Life is tough. As John Wayne would say: "Life is tougher if you're stupid". Do you want a country that takes care of you or do you want a country that lets you do what you want as long as you don't hurt anyone? What say you?
You need a book to tell you the river is rising, or can you just look down and see that the water is up to your knees???
I agree with willie.
Participation at this time is around 65%--quite low by historical standards.
And COLA-adjusted private wage is still trending downward since about 1976--more particularly since 2000.
There's good reason to be concerned about industrial investment levels in the US.
And even more good reason to examine very closely the CPI formulas invented by the Clintonistas and perpetuated by the Bushies.
Interesting graph.
It has NOTHING to do with "Manufacturing" as a share of GDP, of course.
So has Commerce re-defined "goods production" to fit some new political imperative?
Another whacko contribution from a two-bit bystander.
Not everyone can (or should) have advanced education or wealth and it does not mean that one is stupid.
And yes, the country/nation should take promote the general welfare of its citizens. Otherwise it is not worth to sacrifice for. Why the average "stupid" Joe should risk his life in defending the country which is a mere market place benefit the "smart" and rich? Or why should he care about folling the law and respecting rights, freedoms and property of the "smart" (for other reasons than being punished if caught)?
If the freemarketeers ideal were to be fully implemented in America - the United States would die.
Compared with 1967, the first year for which household income statistics are available, 2003 real (inflation adjusted) median household income is up 30 percent. Over this period, median income tended to rise and fall along with the business cycle. Real median income peaked in 1999, was unchanged in 2000, declined over the next 2 years (by a cumulative 3.3 percent), and was unchanged in 2003.
OR, the world should be frozen over by now according to some of the same kind of people's thinking from back in the 70s........
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