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August 12, 2009

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djysrv

Perhaps one more sign of problems is the disposal of the earning power of the baby boom generation. Now in its peak earnng years, age discrimination is trimming the members of this generation from the labor force.

Even with savings, consulting, and, in some cases, a modest pension, earning power is still reduced by at least 30% which means consumer spending of a very large segment of the population is crippled on a permanent basis. Try to build an economic recovery on that phenomenon?

While corporations are expected to act in "self interest," collectively, these types of targeted layoffs also affect global competitiveness. Firms that think they can get by on the skills of a $50K worker, after laying off a $100K worker, are fooling themselves if they expect a boost in sales and productivity gains to follow cost cutting.

James Bowery

http://www.youtube.com/watch?v=akVL7QY0S8A

Start watching at 24:30

It's a big lie that "Median incomes stagnated for 30 years" because "inflation adjusted" itself was a lie.

Will

Good stuff! Could you please provide links to your earlier comments of a similar nature, i.e., concerning the stagnation of middle-class incomes.

I find it interesting to go back to the mid-20th Century and see that the wage policies of GM were a key element in maintaining the buying power of the middle-class with productivity wage increases built in to the package and assumed.

enigma_foundry

John:

As always good stuff.

Along similar lines, you may like Max and Stacy, who come to some of the same conclusions you do:

http://maxkeiser.com/

John Robb

Excellent comments. Thanks. That video of Warren was amazing. Really delves into the heart of the crisis. Worth deconstructing for pressure points.

John Robb

Here's some links on the issue:

http://tinyurl.com/qbv3k8

James Bowery

The thing I find ironic (understatement of the decade) about Warren's appointment to oversee TARP funds is that if anyone could see that all "bail out" funds should have been sent out in substantial monthly checks to all adult citizens, to support the debt structures from their foundations, it is Warren. Why would they put this woman in this position where her hands are tied while she "oversees" this incredible crime against humanity, the magnitude of which few but she can truly perceive? To torture her for seeing reality?

John Robb

James, I suspect it was all a big joke.

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