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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDOW Up 153-percent since 2009. Wages up 2-percent.
The lagging line is your sad hourly earnings. They have barely budged since the market bottomed in 2009, while the Dow has skyrocketed 153 percent. Between November 2012 and November 2013, the latest data available, hourly wages for nonsupervisory workers rose just 2.1 percent, just barely ahead of inflation.
SOURCE: http://www.huffingtonpost.com/2013/12/31/stock-market-best-year-1997_n_4524267.html
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DOW Up 153-percent since 2009. Wages up 2-percent. (Original Post)
Octafish
Jan 2014
OP
Trickle down hasn't worked yet, but just needs a few more decades, kinda like the Cuban embargo.
Scuba
Jan 2014
#1
Can't wait: Four families, on my street alone, have lost their homes since 2009.
Octafish
Jan 2014
#3
Another Bernanke Bubble. He's getting the hell out of there before it explodes again.
DesMoinesDem
Jan 2014
#2
Makes sense. There is an inverse relationship between wages and corporate profits
LittleBlue
Jan 2014
#5
Scuba
(53,475 posts)1. Trickle down hasn't worked yet, but just needs a few more decades, kinda like the Cuban embargo.
Hang in there, you'll get a penny or two in just a 20 or 30 more years.
Octafish
(55,745 posts)3. Can't wait: Four families, on my street alone, have lost their homes since 2009.
It appears that Tim Geithner and Company had something to do with it:
Geithner sacrificed homeowners to foam the runway for the banks
Neil Barofsky, the former special inspector general for the Troubled Asset Relief Program, has published a new book, Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street. It presents a damning indictment of the Obama administrations execution of the TARP program generally, and of HAMP in particular.
By delaying millions of foreclosures, HAMP gave bailed-out banks more time to absorb housing-related losses while other parts of Obamas bailout plan repaired holes in the banks balance sheets. According to Barofsky, Treasury Secretary Tim Geithner even had a term for it. HAMP borrowers would foam the runway for the distressed banks looking for a safe landing. It is nice to know what Geithner really thinks of those Americans who were busy losing their homes in hard times.
CONTINUED w VIDEO and links and more letters...
http://washingtonexaminer.com/video-geithner-sacrificed-homeowners-to-foam-the-runway-for-the-banks/article/2502982
It's like that Western, "Hard Times," except the bad guy destroying the town is wearing a badge.
DesMoinesDem
(1,569 posts)2. Another Bernanke Bubble. He's getting the hell out of there before it explodes again.
Octafish
(55,745 posts)6. And to think some brave buy-partisan soul wanted that job.
It really must pay well, or maybe Larry Summers wanted to go into it for the connections. Some of the crew working feverishly to strengthen the, uh, middle class must think so: Jacob Lew and Penny Pritzker.
reformist2
(9,841 posts)4. We need to reinvent capitalism. Either that, or scrap it.
One thing should finally be dawning on people of all political stripes - it's simply not working for us anymore.
LittleBlue
(10,362 posts)5. Makes sense. There is an inverse relationship between wages and corporate profits
When will we see some balance?
The2ndWheel
(7,947 posts)8. When you're needed for profits to go up
If your wages are low, and you can't buy as much stuff to help create more jobs, but profits are going up, why would someone need to pay you a higher wage?
former9thward
(31,997 posts)7. I doubt the 2.1% is "just barely ahead of inflation."
Inflation has been a lot more than that since 2009 in the basics people buy. I don't care what the government says. Also the trick companies do where they reduce the size of the box and charge the same price.