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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (565)	10/18/1998 10:52:00 AM
From: Bobby Yellin	Read Replies (2) \| Respond to of 2794

nytimes.com not sure if you have to register for free or if it can be read upon clicking.. this article supports your looking at the forest instead of looking at what the press and government usually puts out.. read about the middle class and how much they have progressed with this "stellar recovery".. for private use(thanks for that one) "The result is painfully obvious in many households. While wealthier families enjoyed big gains, particularly from the booming stock market, most households find that their incomes, adjusted for inflation, are no higher today than they were in 1989, when the last expansion ended. Americans, for the most part, have been running in place for 25 years. And as economies around the world weaken, Americans are unlikely to gain ground soon.".....But that debt accumulation has come at a cost. By one estimate, 5 percent of all the nation's households have filed for bankruptcy protection the last five years....... What's more, the 1997 level was only $1,260 above 1973's income of $35,745. Many households in the 1960s added more to their incomes in a single year than their counterparts today have added in 25 years. And they did it with one wage earner, not two or three, working fewer hours than the average jobholder does today...While the job market is strong, layoffs are nevertheless running ahead of 1980s levels. Many jobs lack company-subsidized health insurance -- 18.3 percent of the nonelderly are without coverage, up from 16.1 percent in 1990. But the robust hiring and the declining unemployment rate had an unexpected payoff. .... huge problem left unresolved as the expansion appears to wind down is a divisive inequality that has developed among income groups, a trend that took root in the 1980s and that the 1990s expansion has failed to interrupt. Pay for low-income workers, or people earning less than $7 an hour, has increased smartly in this recovery, pushed up partly by a higher minimum wage and the earned-income tax credit, which is, in effect, a federal wage subsidy. But the gains among high-end jobholders have been even greater, widening the inequality. And workers in the middle, earning $9.75 to $15.50 an hour, lost ground, after adjusting their pay for inflation. maybe too many people were ashamed to admit that they have not been doing better than ever when they assumed everybody else was.. in Saturday's NYT it said that about 44 million are on Social Security..can't find the exact raise for next year..also forgot what the population of the US now is estimated to be.. biz.yahoo.com I am certain this article won't get much attention..it definitely is not one of those feel good articles.. comments on it?