Don't believe the hype, believe the reality.

[frank_begbie]

Faking the numbers does not change reality, only the perception of reality. Calculating real median household income with the true level of inflation exposes the true picture for middle class America. Real median household income is lower than it was in 1970, just prior to Nixon closing the gold window and unleashing the full fury of a Federal Reserve able to print fiat currency and politicians to promise the earth, moon and the sun to voters. With incomes not rising over the last four decades is it any wonder many of our 115 million households slowly rot and decay from within like an old diseased oak tree. The slightest gust of wind can lead to disaster.


http://www.zerohedge.com/news/guest-pos ... -im-seeing

[SleeperService]

The same thing has been happening in the UK with real wages declining every year since 1977 IIRC.

The below average earners have been hit especially hard, as they struggle to keep afloat their discretionary spending has dropped close to zero and started a viscous spiral as companies fail, more people become unemployed and lower wages are offered.

Those who took 10-15% pay cuts to save redundancies a few years back while senior managers awarded themselves double digit increases were especially unfortunate.

Couple this with draconian working conditions where the slightest thing results in disciplinary action, half hour unpaid lunch breaks including getting to and from your work station, no other breaks, reduced holidays, reduced sick pay and so on. All this to 'compete with the Asians' while those at the top take more and more of the wages pie because they 'could earn more in the US/Germany/where-ever.

Life is shit for MOST people here and in the USA, when companies pay PR companies and lobbyists to project a 'good' image even when it would be cheaper to pay the workers a bit more, be more environmentally sound and so on, it will ALWAYS be shit.

[RenewableCandy]

I could have sworn I read some HMG twazzick say "we need to compete with North Korea"...I wonder if he meant South, or if he really meant it ??

[Snail]

Whoever said that is right but that's global capitalism for you. Crazy. Absolutely bonkers. Wasn't edinburgh woolen mill caught? The overseer was paid on the workers' behalf. Diabolical.

[mobbsey]

I could have sworn I read some HMG twazzick say "we need to compete with North Korea"...I wonder if he meant South, or if he really meant it ??

That was Cameron speaking to the CBI... to list the main points --

...government can still be far too slow at getting stuff done...
I am determined to change this. Here's how:

# Cutting back on judicial reviews.

# Reducing government consultations.

# Streamlining European legislation.

# Stopping the gold-plating of legislation at home.

Well, this country is in the economic equivalent of war today –
and we need the same spirit. We need to forget about crossing
every 't' and dotting every 'i' and we need to throw everything
we've got at winning in this global race.

[RenewableCandy]

Can't see Korea in there. But...

Because frankly, we need this buccaneering, deal-making, hungry spirit now more than ever.

obviously No 10 wants us all to become pirates! Yarrrr!!

[emordnilap]

I could have sworn I read some HMG twazzick say "we need to compete with North Korea"...I wonder if he meant South, or if he really meant it ??

That was Cameron speaking to the CBI... to list the main points --

...government can still be far too slow at getting stuff done...
I am determined to change this. Here's how:

# Cutting back on judicial reviews.

# Reducing government consultations.

# Streamlining European legislation.

# Stopping the gold-plating of legislation at home.

Well, this country is in the economic equivalent of war today –
and we need the same spirit. We need to forget about crossing
every 't' and dotting every 'i' and we need to throw everything
we've got at winning in this global race.

Oh, the old self-regulation position. That works, don't it?

[JohnB]

I bet if us plebs tried to bypass the rules to achieve personal economic growth, or higher aims, TPTB would still come down on us like a ton of bricks. Tearing up rules seems to be for the benefit of our elders and betters .

[emordnilap]

Some may be younger than me but none are better.