Posted on 12/05/2005 6:56:18 AM PST by 1rudeboy
Of course not, factories need skilled workers nowadays.
Damn!! I wish I'd have consumed more Philip Morris stock 3 years ago.
and increases in home equity aren't income--
I know it's not income but at least I include it in net worth :^)
we need to start staying that savings is 'the increase in wealth.'
Americans don't have any wealth. And real incomes have dropped 50% in the last 30 years. Or was it 100%? LOL!!
Like I said, I don't know where you live, but it's light years from reality.
I bid you a good evening!
Always running away. Never providing any facts.
That's too bad.
Workers have to waste years studying all that boring stuff and take out crippling student loans so factories can turn out electronic gizmos so workers can end up living in the same house my HS dropout relative bought in the 1960's.
Unfortunately, more than half of Americans have IQ's of 100 or below.
I guess we send them to MIT and the problem is solved.
http://www.gao.gov/archive/1997/ns97256t.pdf
Page ten of forty nine. This gives the data from 1973 but I can't truthfully say I found the 31% this time.
You sound like you long for the days it took 3000 workers to assemble an auto. Those days aren't coming back. Sorry.
That was a report about NAFTA. It doesn't even mention 1973 on page 10. Try again?
Houses nowadays are so much larger than that 1960's house your dropout relative bought. They've even got air conditioning and cable TV. And no ugly avocado kitchens either.
I don't know how many workers it took, but the price of a new Ford car went down with every new model.
Which is how it should be.
I wonder what those larger nowadays houses cost, since the house he bought in 1965 for 16K went for 500K nowadays last year.
BTW--I threw my A/C out years ago, along with my TV.
Page 10 describes the fall of blue collar real wages for the preceding two decades with 1993 as the implied end mark.
Why don't you trying reading it again. If you have time trying reading the entire thing. It's dry but interesting.
When did I say a 401k was considered consumption?
I guess that would depend on where the larger house is located. Detroit is cheaper than L.A. Sounds like he made about 9% a year. Good for him.
Post #188: Savings rate is income minus consumption.
I'm glad that we now agree that 401k contributions are savings.
The critique also notes that the real wages of U.S. blue-collar workers has declined for almost 2 decades and suggests that imports from low-wage countries such as Mexico are an especially important cause of increasing wage inequality.
Wow! That certainly proves your point. Not!! What about this chart?
Maybe wages declined before NAFTA caused them to rise?
Your chart is in direct oppostion to what the GAO report said.Without knowing the complete article from which you took the chart I can't comment on it.
Post a link so I can review the work.
That's great. Can you tell me where the Labor Department report can be found that has the chart.
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