Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: axial who wrote (108740)	2/23/2010 6:23:28 AM
From: axial	12 Recommendations Read Replies (2) of 116555

John, one other thing... Until management and legislators take pay cuts, don't even think of asking labor for concessions. Imagine, for a moment that you're negotiating with labor, asking them to take a cut in wages or make some other concessions. The immediate response would be: "Why us? Did you make the people that caused this crisis take pay cuts? No! You bailed them out and gave them big fat bonuses with my tax money! You've got legislative assistants in Washington that make more than my members. Have you seen the congressional wage and benefit increases?" If you're asking for rationality at the bottom, then ordinary people must see it at the top: that's where leadership begins. So far working people have seen none. Jim

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