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FSN: Economic Duplicity with Low Wage Capitalism
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Nearly half of those that lost their job between 2009 and 2011 are working in a lower wage position. The hard financial reset button.
from My Budget 360
All jobs are not created equal. It is unfortunate that last month the drop in the unemployment rate was largely driven by hundreds of thousands of Americans simply dropping out of the labor force. Not exactly a way to build the middle class but to many it gives the false impression that things are getting better when they are largely treading water. Also a more trying sign of the times, a survey showing of the three million people that lost jobs between January of 2009 and December of 2011 with longer-term employment, roughly half that found a new job were making less than they once did. In other words, these people now have jobs but at the lower wage side of the scale. This also helps to explain why so many Americans are living day to day while facing the increasing cost of daily goods. It is hard to believe that for over a decade, the median household income has fallen for Americans. Young Americans are fully aware of the challenges the current economy faces because they are encountering it both in lack of savings and massive debt for college.
Continue Reading at MyBudget360.com…
2012-09-10 23:21:30
Source: http://silveristhenew.com/2012/09/10/economic-duplicity-with-low-wage-capitalism/
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