Quit relying on the government for a job and take some personal responsibility.
I know its tough to accept that investors aren't buying the Bush economy line of BS.
Without income growth at the *individual* level this so-called recovery will stall (just like we are seeing now) because we are a consumer driven society, much to the dismay of BushCo obviously.
Recovery for Profits, but Not for Workers
Output is clearly rising, and, normally, that would feed into both corporate profits and labor income. But while profits have shot up as a percentage of national income, reaching their highest level since the mid-1960's, labor's share is shrinking. Not since World War II has the distribution been so lopsided in the aftermath of a recession.
Profits, it turns out, never stopped rising as a share of national income all through the 2001 recession and the months afterward of weak economic growth. That did not change even as the recovery kicked in strongly last summer and hiring resumed. New data from the Bureau of Economic Analysis erases all doubt on this point.
The reasons for labor's poor showing are not hard to spot. The employment rolls are still smaller, by 2.4 million jobs, than they were at the recession's start in March 2001. Those who are employed are also feeling the squeeze, particularly the 85 million people who hold office or factory jobs below the rank of supervisor or manager. Their average hourly wage, $15.46, is up only 3 cents since July, according to the Bureau of Labor Statistics. That wage is rising at an annual rate of less than 2 percent, barely enough to keep up with inflation, mild as it now is.
nytimes.com |
