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ZeroHedge: Median Wages Have PLUMMETED Since 1969
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Wages need to rise to keep up with inflation, especially since the value of the dollar has been trashed:
But Michael Greenstone and Adam Looney of the Hamilton Project document (hat tip Ezra Klein) that real median earnings for men declined between 1969 and 2009:
And wages have only kept dropping since 2009.
In addition – when those who have only part-time work are taken into account – we have depression-level unemployment.
As Klein notes:
When you take all men, not just those working fulltime, into account, the slight decline in the above graph becomes a plummet of 28 percent in median real wages from 1969 to 2009.
The bottom line is that – due to idiotic government policy – most of the jobs being created are part-time and low wage jobs.
via zerohedge
2012-08-08 11:45:24
Source: http://silveristhenew.com/2012/08/08/median-wages-have-plummeted-since-1969/
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