11/16/2006

Free trade hasn't turned out to be a great deal


Over the past five years, most Americans have seen stagnant wages and increased job insecurity. While the Dow has recovered, job creation remains historically weak. While compensation for chief executive officers has hit records, college graduates have seen their incomes drop. Growth hasn't lifted all boats.

Read more @ Cinncinati Enquirer.

Families feel the squeeze
Higher fuel, health costs hit home

“The main thing that bothers me the most is that I can’t provide for my kids like my parents provided for us,” Paul Kirk said. “There’s always a sense of doubt that you’re always going to have enough at the end of the month, but sometimes you don’t. We just can’t do things the way we’d like to.”

Read more @ Lawerence Journal-World.

Fed minutes spur another Dow record
Wall Street rallied again Wednesday, with the Dow Jones industrials scoring another record close as investors grew more confident that the Federal Reserve has inflation in hand. A bid from US Airways Group Inc. for Delta Air Lines Inc. added to the market's momentum.

Read more @ Reading Eagle.

6 comments:

Cato said...

Hey check this out

http://tinyurl.com/yywt72

AndyRand said...

CATO:

I'm guessing your point is that liberals are generous with other people's money? Please note though, the article refer's to religious concervatives, not Ayn Rand conservatives. My take is we need a mix of public and private aid for a generous society.

Cato said...

I know, I know, terrible news. Wages aren't stagnant.

http://tinyurl.com/yk323b

Anonymous said...

Cato:

I read that this morning. The question that is important is what is the median wage? This helps separate out if the rich are getting richer and the poor poorer.

Think about it, if you and 10 of your co-workers are having a drink after work and you all have assets between $500,000 and $750,000, you probably have average assets around $625,000. Now, if Bill Gates and Warren Buffet walk into the bar, you average assets have jumped to the $100 million and greater range. Your median assets, including Bill and Warren, is still in the $625,000 range.

Can you tell us the median income is?

Cato said...

I knew it was terrible news.

AndyRand said...

CATO:

Naturally, each of us will skew this to suit or perspectives. I found this portion of the aritcle quite telling.

"As recently as this past October, weekly pay adjusted for inflation was below where it was when President Bush took office in 2001. In effect, rising prices for things like healthcare, college tuition, and especially for energy ate up all the wage gains of an expanding economy, and then some."

"I think you should modify your comment to something like.
After 5 years wages of stagnation workers see modest gains."
Much more accurate in my opinion.

If there's exuberance over the average Joe's paycheck, I'm sure not seeing it on the street.
Can I borrow those Rose Colored Glasses of yours?