Drudge Retort: The Other Side of the News
Wednesday, August 20, 2014

Aki Ito, Ian Katz and Ilan Kolet, Bloomberg: Call it the no-raises recovery: Five years of economic expansion have done almost nothing to boost paychecks for typical American workers while the rich have gotten richer. Meager improvements since 2009 have barely kept up with a similarly tepid pace of inflation, raising the real value of compensation per hour by only 0.5 percent. That marks the weakest growth since World War II, with increases averaging 9.2 percent at a similar point in past expansions, according to Bureau of Labor Statistics data compiled by Bloomberg.

Advertisement

Liberal Blog Advertising Network

Menu

Advertisement

Subscriptions

Author Info

Huguenot

 

Advertisement

MORE STORIES

 

Advertisement

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Woo-Hoo! How bout that recovery?!

#1 | Posted by Huguenot at 2014-08-19 12:20 PM | Reply | Flag:

It start trickling down any day now! Just because it has never happened before doesn't mean we are wrong.....

Sincerely,

The GOP

#2 | Posted by Sully at 2014-08-19 12:36 PM | Reply | Flag: | Newsworthy 7

Yep it sure does suck. America, Inc. is counting you worker drones to just be happy you are doing the work of your three fired co-workers at no extra pay.

But then again the workers have been screwed out of raises for the past 40 years, why should it be different now?

You want workers to get a pay raise? Let them organize. Or would it be better if Obama ordered businesses to give raises? You would all get your panties in a wad over that too.

#3 | Posted by 726 at 2014-08-19 12:36 PM | Reply | Flag: | Newsworthy 4

"You want workers to get a pay raise? Let them organize. "

Americans need to stage a walkout/sitdown. Shut everything down. everything.

#4 | Posted by DeadSpin at 2014-08-19 12:47 PM | Reply | Flag: | Newsworthy 4

Well, it's a simple and proven fact that price controls do not work.
It's also a simple fact that bringing in cheap Mexican labor is reducing wages too, the ticklish part is that they vote Democrat so it's just too tempting to turn a blind eye to that.

Isn't it extremely disappointing for you liberals that voted for Obama to see how he's governed?

#5 | Posted by Huguenot at 2014-08-19 12:53 PM | Reply | Flag: | Newsworthy 1

#4 When you have 10 people lining up to take your job tomorrow walking out is not an attractive option.

America, Inc wants unemployment to be high so that you eager for the few scraps you get from them.

Low unemployment is their enemy. Closing the borders is their enemy too.

#6 | Posted by 726 at 2014-08-19 12:56 PM | Reply | Flag: | Newsworthy 4

the ticklish part is that they vote Democrat so it's just too tempting to turn a blind eye to that.

Everyone has a stake in keeping them here, not just democrats.

#7 | Posted by 726 at 2014-08-19 12:59 PM | Reply | Flag:

Not everyone.
If you mean big business and Democrats then I agree with you.
Those who compete with Mexican labor wouldn't agree with you.

#8 | Posted by Huguenot at 2014-08-19 01:02 PM | Reply | Flag:

I also mean the Republican party.

Wage earner's - I agree with you. But neither party represents them any further than lip service.

#9 | Posted by 726 at 2014-08-19 01:59 PM | Reply | Flag:

Establishment Republicans maybe, definitely not the tea party.

#10 | Posted by Huguenot at 2014-08-19 02:01 PM | Reply | Flag:

Yea Tea Party Republicans prefer running head first into a wall.

#11 | Posted by ClownShack at 2014-08-19 02:10 PM | Reply | Flag:

More undocumented immigrants .... that should solve this problem...

#12 | Posted by AndreaMackris at 2014-08-19 07:04 PM | Reply | Flag:

"It's also a simple fact that bringing in cheap Mexican labor is reducing wages too, the ticklish part is that they vote Democrat so it's just too tempting to turn a blind eye to that. "

Never mind that those Mexican workers can't do most of the jobs that most Americans do, they are limited to the lowest level, manual labor positions so they are not really the reason most of our incomes have not grown in the last thirty years. Try union busting and outsourcing manufacturing if you want to find the real reasons. :

"On October 1, United Airlines is planning to outsource 630 gate agent jobs at 12 airports to companies that pay near-poverty level wages. The airports affected include Salt Lake City; Charlotte, North Carolina; Pensacola, Florida; Detroit and Des Moines, Iowa.

As a result hundreds of employees who formerly made middle-class, living wages will be forced to transfer to other cities, take early retirement or seek employment elsewhere. Union employees who have been with the company for years -- many making a respectable $50,000-per-year salaries -- will be replaced by non-union employees who will be paid less than half -- between $9.50 and $12 per hour."

www.thedemocraticstrategist.or
g

I probably don't have to say it but I will never fly United again and you shouldn't either. That airline should be boycotted and run out of business. Let the shareholders lose every penny of their investment.

#13 | Posted by danni at 2014-08-20 08:03 AM | Reply | Flag: | Newsworthy 3

I normally fly Northwest, but upon reading Danni's snippet I am most definitely switching to United.

#14 | Posted by JeffJ at 2014-08-20 08:21 AM | Reply | Flag: | Funny: 1

Establishment Republicans maybe, definitely not the tea party.

#10 | POSTED BY HUGUENOT AT 2014-08-19 02:01 PM | REPLY | FLAG:

You goofs will believe anything they tell you.

Time and again these teahadists have been proven to be full of crapola once in office.

#15 | Posted by 726 at 2014-08-20 08:22 AM | Reply | Flag: | Newsworthy 1

many making a respectable $50,000-per-year salaries

How dare they expect to make enough to live on!

Friggin thugs.

#16 | Posted by 726 at 2014-08-20 08:23 AM | Reply | Flag: | Newsworthy 2

I am most definitely switching to United.

Keep bitching about the deficit.

When you cut wages by from $24 to $9, you cut tax receipts too.

But then again you only care about the union getting hurt.

#17 | Posted by 726 at 2014-08-20 08:25 AM | Reply | Flag: | Newsworthy 2

I am going to book a flight today.

I am going to fly to New York and fly right back to Detroit. On United.

#18 | Posted by JeffJ at 2014-08-20 08:28 AM | Reply | Flag:

For guys like Jeff, it's fine for management to cut wages, etc. until the day it happens to him. Don't worry Jeff, one day it will be your turn.

#19 | Posted by danni at 2014-08-20 08:47 AM | Reply | Flag: | Newsworthy 2

"I am going to book a flight today.

I am going to fly to New York and fly right back to Detroit. On United."

I doubt you can actually even afford the air fare.

#20 | Posted by danni at 2014-08-20 08:48 AM | Reply | Flag:

I changed my mind. I am going to fly to Florida, show Danni my United ticket and then fly back to Detroit.

When I get back I am going to purchase a bottle of 18-year Highland Park single malt scotch and I am going to mail it to the CEO of United.

#21 | Posted by JeffJ at 2014-08-20 08:54 AM | Reply | Flag: | Funny: 1

In your imagination anyway Jeff. Hope your boss doesn't decide to replace you with an undocumented immigrant worker today.

#22 | Posted by danni at 2014-08-20 09:05 AM | Reply | Flag: | Funny: 1

"and fly right back to Detroit.
#18 | Posted by JeffJ"

You poor sap.

#23 | Posted by mOntecOre at 2014-08-20 08:19 PM | Reply | Flag:

EVERYTHING is going according to plan. You election choices have no bearing on the outcome.

#24 | Posted by nutcase at 2014-08-20 08:21 PM | Reply | Flag:

- America, Inc. is counting you worker drones to just be happy you are doing the work of your three fired co-workers at no extra pay. - 726

Yep, the corps have the money to raise wages, but why do it when they discover one person will do 3 jobs when they have to.... and still are doing 3 jobs... without the raise.

#25 | Posted by Corky at 2014-08-20 08:24 PM | Reply | Flag:

"Yep, the corps have the money to raise wages"

Or give huge speaking fees to Carlyle Clinton.

#26 | Posted by nullifidian at 2014-08-20 08:29 PM | Reply | Flag: | Newsworthy 1

#26

You'd think that one-trick pony would be tired by now.

You make yourself ridiculous.

#27 | Posted by Corky at 2014-08-20 08:30 PM | Reply | Flag:

Trickle Down Economics is the biggest lie foisted upon the American public in the
last 50 years...bar none.

#28 | Posted by earthmuse at 2014-08-20 08:39 PM | Reply | Flag: | Newsworthy 1

#28 Wrong. "Globalisation will float all boats" is the lie. It turns out to be a race to the bottom for all countries involved.

#29 | Posted by HeliumRat at 2014-08-20 08:47 PM | Reply | Flag:

Trickle Down Economics is the biggest lie foisted upon the American public in the
last 50 years...bar none.

#28 | Posted by earthmuse

I don't know Earthmuse...I think I have been Tinkled on by the Republicans with something for at least the 8 years between 2000-2009 if not every time they have been in power during my lifetime.

#30 | Posted by donnerboy at 2014-08-20 08:49 PM | Reply | Flag:

#23

I don't live in Detroit, Monte. I live in the 'burbs.

#31 | Posted by JeffJ at 2014-08-20 08:59 PM | Reply | Flag:

" "Globalisation will float all boats" is the lie. It turns out to be a race to the bottom for all countries involved."

That argument fell on the deaf ears of Bill Clinton.

#32 | Posted by nullifidian at 2014-08-20 09:18 PM | Reply | Flag: | Newsworthy 2

#30

Jesus, please quit your pity party.

What a bunch of self loathing whiners on this place.

#33 | Posted by eberly at 2014-08-20 09:23 PM | Reply | Flag:

"I normally fly Northwest..."

#14 | Posted by JeffJ

So you haven't flown in several years...

#34 | Posted by GalaxiePete at 2014-08-20 11:46 PM | Reply | Flag:

"Since 1975, practically all the gains in household income have gone to the top 20% of households." www.cia.gov

Obama's eleventh term as President and he still hasn't fixed it?
I swear I'm not voting for that clown a twelfth time!

#35 | Posted by snoofy at 2014-08-21 02:11 AM | Reply | Flag:

#30

Jesus, please quit your pity party.

What a bunch of self loathing whiners on this place.

#36 | Posted by eberly at 2014-08-21 08:00 AM | Reply | Flag:

News flash!!!!!!!!!!!!!!!!!! The rich don't work for wages.

#37 | Posted by Sniper at 2014-08-21 10:08 AM | Reply | Flag:

"News flash!!!!!!!!!!!!!!!!!! The rich don't work for wages."

That's fine, but they should pay the exact same amount of income tax as if they did, the same as the rest of us. Ronnie Raygun thought so too.

#38 | Posted by danni at 2014-08-21 10:33 AM | Reply | Flag:

"Trickle Down Economics is the biggest lie foisted upon the American public in the
last 50 years...bar none."

A little history example : Boat-builders fight to stay afloat as luxury tax pulls down sales - articles.baltimoresun.com

So yes, there is trickle down effect as if the rich spend, those who sell or produce the products have jobs and earn monies. When govt intervenes the rich spend less an it is the blue collar guy which is screwed. [additionally, the tax revenues the govt thinks they will receive from luxury taxes never materialize in what is proected plus now the govt has to pay out benefits to those who lost their jobs (a lose/lose)].

ps: This is also proof that our country cannot learn from history as the same thing happened under the Carter Administration when they imposed a luxury tax.

#39 | Posted by MSgt at 2014-08-21 01:43 PM | Reply | Flag:

So yes, there is trickle down effect as if the rich spend
#39 | Posted by MSgt

That would require the rich to spend. But the rich save, at least some. That is in fact what makes them rich. People who live paycheck to paycheck are the ones who spend.

While the cost is the same, more economic activity occurs when ten people buy Fords for $20K than when one person buys a Mercedes for $200K.

Wealth doesn't trickle down. It percolates up. Especially in a nation where 70% of the GDP is consumer spending.

I hope this helps you understand economics a little bit better.

#40 | Posted by snoofy at 2014-08-21 01:56 PM | Reply | Flag:

Also, when your average worker loses a job there is more trickle down losses as he/she can no longer spend money at restaurants, stores, etc., which hurts their bottom line [waiter makes less tips, owner has less income and maybe some of their personnel may be laid off further exacerbating the situation]. Just pay attention to out economy over these past few years and you will possibly begin to understand that the trickle down effect does exist.

#41 | Posted by MSgt at 2014-08-21 02:00 PM | Reply | Flag:

That would require the rich to spend. But the rich save, at least some. That is in fact what makes them rich. People who live paycheck to paycheck are the ones who spend.

While the cost is the same, more economic activity occurs when ten people buy Fords for $20K than when one person buys a Mercedes for $200K.

Wealth doesn't trickle down. It percolates up. Especially in a nation where 70% of the GDP is consumer spending.

I hope this helps you understand economics a little bit better.

#40 | Posted by snoofy

That ain't economics, it's your bad understanding on how things work. You need to get a grip on how things really work.

Who buys all the homes in Jackson Hole or sun Valley? Ain't the guy buying the F150. Who builds all thoes homes...... its the guy driving the F150.

WTF do you think they do with their money, burn it? They buy things with it ace.

#42 | Posted by Sniper at 2014-08-21 04:06 PM | Reply | Flag:

New home starts is an economic indicator for pretty much the reason you describe, but your characterization of the homes being built, and who buys them, is extremely inaccurate.

www.usatoday.com


About half of single-family construction is located in the South, where single-family permits have been accelerating in the past three months, said IHS Global Insight economists Patrick Newport and Stephanie Karol in e-mailed comments after the Census report. "As job and income growth continue to recover, the single-family market should benefit."
...
Home builders say that the market has been held back by a still-tight lending climate for residential mortgage borrowers and shortages of finished lots and labor.

Median price of a new home, of which about one million will be built this year, is around $275K, www.nahb.org
Median price of a new home in Jackson, WY is about $1.6 million, based on the six homes built there in 2014.

Six homes. That's your claimed economic engine. You have no freakin' clue kid.

#43 | Posted by snoofy at 2014-08-21 04:43 PM | Reply | Flag:

"CSo yes, there is trickle down effect as if the rich spend, those who sell or produce the products have jobs and earn monies."

Yes the luxury tax was a mistake but no we can't build an economy on creating luxury items for the rich.

#44 | Posted by danni at 2014-08-22 09:23 AM | Reply | Flag:

ddan, we can't build an economy on making everyone poor either.

#45 | Posted by Sniper at 2014-08-22 09:34 AM | Reply | Flag:

We can't tax the rich and expect them to keep their money here. That's one of the reasons corporations move offshore, because our corporate tax rate is the highest in the world.

It's a simple supply & demand issue. We have too many foreign workers willing to work for poverty wages and too much outsourcing.

Seal the border, deport the illegals, slow legal immigration, impose tariffs on imported goods. Free trade hasn't been fair trade. It's not just that countries might limit our access to their markets, it's that they don't even have established markets for our goods.

#46 | Posted by Huguenot at 2014-08-22 11:47 AM | Reply | Flag:

Seal the border, deport the illegals, slow legal immigration, impose tariffs on imported goods. Free trade hasn't been fair trade. It's not just that countries might limit our access to their markets, it's that they don't even have established markets for our goods.
#46 | Posted by Huguenot

These are great ideas for about two centuries ago.
Completely incompatible with today's global economy.
And probably illegal under international treaties we've signed like NAFTA and GATT.

#47 | Posted by snoofy at 2014-08-22 12:53 PM | Reply | Flag:

The U.S. should exit those treaties, de-globalize and re-localize.

#48 | Posted by nullifidian at 2014-08-22 12:58 PM | Reply | Flag: | Funny: 1 | Newsworthy 1

I somewhat agree, but it was the US who pushed for those treaties in the first place. The wind is going to have to blow from a very strange direction indeed for that to happen. Someplace that isn't K Street or Wall Street. Perhaps Main Street.

#49 | Posted by snoofy at 2014-08-22 01:35 PM | Reply | Flag:

Someplace that isn't K Street or Wall Street. Perhaps Main Street.
I agree with that.
Main street has to wake up first though. See through the partisan politics.

#50 | Posted by Huguenot at 2014-08-22 01:46 PM | Reply | Flag:

Seal the border, deport the illegals, slow legal immigration... #46 | Posted by Huguenot

These are great ideas for about two centuries ago.
#47 | POSTED BY SNOOFY AT 2014-08-22 12:53 PM | FLAG:

Not a "noted" economist.

#51 | Posted by RobThomas at 2014-08-22 01:58 PM | Reply | Flag:

Any examples of sealed border countries having successful economies?
North Korea perhaps?
Moron.

#52 | Posted by snoofy at 2014-08-22 02:08 PM | Reply | Flag: | Newsworthy 1

^
A little farther north Doofy.
China has grown their economy at approximately five times the rate as we have with a mercantilism trade policy.
One thing I might add is that we take in more LEGAL immigrants than the rest of the world combined.

Australia is another good example. Or even Canada. Canada's middle class is now richer than our own.

#53 | Posted by Huguenot at 2014-08-22 03:08 PM | Reply | Flag:

And people wonder why I'm trying to bring back the CCC and WPA.

#54 | Posted by Tor at 2014-08-22 03:27 PM | Reply | Flag:

One thing I might add is that we take in more LEGAL immigrants than the rest of the world combined.

That right wing talking point has been debunked.

So you can add it but all it does is prove you don't know what you are talking about or you are purposely trying to be misleading.

Which brings us back to Walden's statement. The representative said that "we allow more people into America legally than all other countries on the planet combined." That's true only when specifically talking about a small group of countries that have a green-card-like immigration system that provides a path to citizenship.

We understand that this metric is in wide use -- by academics, opinion writers and, at one point, even the state department. We also appreciate that Walden was measured in his statement, saying "I believe" and "I think." He even invited fact checkers to look into the issue. But ultimately, none of that changes the fact that to focus on only four countries while making a statement about the entire world is misleading, even if it's not on purpose.

When we compare permanent immigrants in other countries -- green-card and permanent-type residents -- we find that Walden's statement is not accurate without significant context. We rate this claim Mostly False.

www.politifact.com

#55 | Posted by donnerboy at 2014-08-22 03:35 PM | Reply | Flag:

China has a sealed border? You clearly don't know what a sealed border is.

China has grown their economy at approximately five times the rate as we have with a mercantilism trade policy.
#53 | Posted by Huguenot

And in doing so they've polluted their environment that breathing the air in Beijing is like being a smoker. Anyone who can afford it imports (something that would not be possible with a sealed border, by the way) baby food from Europe or the US so as to not poison their own children with the domestic stuff.

But hey, five times our growth rate, that's all that matters if you're an economically illiterate right-winger.

#56 | Posted by snoofy at 2014-08-22 03:52 PM | Reply | Flag:

"And in doing so they've polluted their environment that breathing the air in Beijing is like being a smoker.

#56 | POSTED BY SNOOFY AT 2014-08-22 03:52 PM | FLAG: ???

Oh erudite one, please do explain what that has to do with a closed border. Are you now actually implying that closing the boarders of a country will result in great pollution? A bit of a stretch for even one such as you.

#57 | Posted by MSgt at 2014-08-22 05:01 PM | Reply | Flag:

Advertisement

Post a comment

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2014 World Readable

 

Advertisement

Drudge Retort