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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (108804)	2/23/2010 7:08:21 PM
From: axial	4 Recommendations Respond to of 116555

Illogical. 2.5% or less meant that in many years increases did NOT equal inflation. That is, public-sector workers (and management) LOST money. As stated, in 2006/7/8 private-sector wages rose so fast and so far that public-sector companies held Job Fairs - because they couldn't match the private sector, especially for skilled trades. Workers were NOT attracted to public-sector union jobs. There can be no useful discussion with the innumerate. --- You've "got Mish's back", LOL? Very combat. We are impressed. Jim

To: ajtj99 who wrote (108804)	2/23/2010 7:51:42 PM
From: marcher	1 Recommendation Read Replies (1) \| Respond to of 116555

"...2.5% annual wage increases..." wages are negotiated at varying organizational levels, depending on the union. a local union reported that their wages have increased less than 2.5%/year over the past decade, as much of the compensation increase went to health insurance. "...private sector employees losing health benefits..." public sector employees have lost health benefits, too. "...disparity between the public and private sector employees performing the same function..." is your source for this percentage the think tank media release? cheers! marc

To: ajtj99 who wrote (108804)	2/23/2010 8:26:50 PM
From: skinowski	2 Recommendations Respond to of 116555

automatic cost of living increases baked into the contracts of the unionized public employees. ..... Non-union private sector workers (about 92% of the workforce) don't typically get automatic cost of living raises. Howdy, AJ... Widespread "cost of living" adjustments, btw, are a sure path towards hyperinflation. Probably, a necessary ingredient. The fact that public employees have this clause and private workers do not is something which may greatly stress our social fabric in the future - if times become bad. I was often surprised that people confuse increase in prices with inflation. Unless the population has the money they need in order to meet those increasing prices, it's not inflation that most people will come to experience - it's poverty. A decline in the standard of living. Most people living in poor nations cannot afford to buy cars NOT because the price of cars is inflated - but because they are poor.