I drink your milkshake! a metaphor for capitalism

[rickyb]

There are so many variables that contribute to the Greek issue that to draw a straight line to every other country and society is extremely facile.

but it is coming to america; your pensions are underfunded and you already have austerity. you might get hyper inflation, and another banking crisis is pretty certain.

 

[1989]

but it is coming to america; your pensions are underfunded and you already have austerity. you might get hyper inflation, and another banking crisis is pretty certain.

I can't wait.

 

[rickyb]

DSA
Retweeted
Pedro da Costa‏Verified account @pdacosta May 10




"Globally, the top 1% of the population owns 50% of the wealth, and the bottom 70% owns only 3% of the wealth." https://www.nature.com/articles/s41562-017-0082 …

 

[rickyb]

Ralph Nader Retweeted
In These Times‏ @inthesetimesmag May 11




Bosses are stealing over $50 billion of their workers' wages every year. It's time for some payback. http://inthesetimes.com/working/entry/20131/wage_theft_is_costing_workers_50_billion_a_year_in_stolen_pay …

 

[rickyb]

theres no shortage of wealth. i think gar alperovitz said every single person in america could earn $50,000 per year (and this was during a recession) if it was evenly distributed.

the problem is the way wealth is distributed.

things should be better than ever, but theyre not.

 

[1989]

theres no shortage of wealth. i think gar alperovitz said every single person in america could earn $50,000 per year (and this was during a recession) if it was evenly distributed.

the problem is the way wealth is distributed.

things should be better than ever, but theyre not.

It doesn't take much effort if you try. Maybe work on your time management skills first.

 

[Catatonic]

Ralph Nader Retweeted
In These Times‏ @inthesetimesmag May 11




Bosses are stealing over $50 billion of their workers' wages every year. It's time for some payback. http://inthesetimes.com/working/entry/20131/wage_theft_is_costing_workers_50_billion_a_year_in_stolen_pay …

Just curious ... how old are you?
I am 62 ...

 

[wkmac]

Until now, I never realized there was an age restriction on posting here.

 

[oldngray]

Until now, I never realized there was an age restriction on posting here.

No age but there IS a height requirement.

 

[Catatonic]

Until now, I never realized there was an age restriction on posting here.

What else have you misunderstood?

 

[1989]

What else have you misunderstood?

No one over 60?

 

[rickyb]

Just curious ... how old are you?
I am 62 ...

im young blood

 

[dudebro]

DSA
Retweeted
Pedro da Costa‏Verified account @pdacosta May 10




"Globally, the top 1% of the population owns 50% of the wealth, and the bottom 70% owns only 3% of the wealth." https://www.nature.com/articles/s41562-017-0082 …

1940 -1980 was a historical anomaly where the industries that grew at a tremendous pace needed a lot of employees to sustain that growth. It was a rare time that the worker had as much power as they did, and salaries reflected it. All of the things companies are eliminating now (pensions, healthcare) were things they invented post WWII to compete for workers.

Now, automation is creating most of the problem - it's siphoning off all of the low - low middle income jobs and creating two classes of people - tech workers who are doing well (overall, for NOW at least) and non-tech workers who, with few exceptions, are doing worse. Their prospects will diminish greatly over the next couple of decades as driving becomes automated - where are the lower rungs of the ladder going to be?

 

[rickyb]

1940 -1980 was a historical anomaly where the industries that grew at a tremendous pace needed a lot of employees to sustain that growth. It was a rare time that the worker had as much power as they did, and salaries reflected it. All of the things companies are eliminating now (pensions, healthcare) were things they invented post WWII to compete for workers.

Now, automation is creating most of the problem - it's siphoning off all of the low - low middle income jobs and creating two classes of people - tech workers who are doing well (overall, for NOW at least) and non-tech workers who, with few exceptions, are doing worse. Their prospects will diminish greatly over the next couple of decades as driving becomes automated - where are the lower rungs of the ladder going to be?

yes ive heard that too about that era, but wages rose for 150 years if i remember correctly in US ending in 1973.

the lower rungs of the ladder will be feudalism, and yea i heard white collar workers are already being affected by the economy and im sure it will spread.

i was considering radiology and the doctor at my work said they will be automating it (or parts of it not sure).

 

[dudebro]

yes ive heard that too about that era, but wages rose for 150 years if i remember correctly in US ending in 1973.

the lower rungs of the ladder will be feudalism, and yea i heard white collar workers are already being affected by the economy and im sure it will spread.

i was considering radiology and the doctor at my work said they will be automating it (or parts of it not sure).

They're still rising - globally. The OECD countries workers are not seeing the increase as companies seek cheaper labor elsewhere, but in those "elsewhere" places, millions of people have risen out of poverty.

As for radiology - the doctor is in trouble too. I've read that AI is already better at identifying dangerous items on an image than most of the doctors are.

 

[rickyb]

They're still rising - globally. The OECD countries workers are not seeing the increase as companies seek cheaper labor elsewhere, but in those "elsewhere" places, millions of people have risen out of poverty.

As for radiology - the doctor is in trouble too. I've read that AI is already better at identifying dangerous items on an image than most of the doctors are.

yes ive heard china wages have gone up alot

 

[1989]

yes ive heard that too about that era, but wages rose for 150 years if i remember correctly in US ending in 1973.

the lower rungs of the ladder will be feudalism, and yea i heard white collar workers are already being affected by the economy and im sure it will spread.

i was considering radiology and the doctor at my work said they will be automating it (or parts of it not sure).

In April, average hourly earnings for all employees on private nonfarm payrolls rose
by 7 cents to $26.19. Over the year, average hourly earnings have risen by 65 cents,
or 2.5 percent. In April, average hourly earnings of private-sector production and
nonsupervisory employees increased by 6 cents to $21.96. (See tables B-3 and B-8.)

 

[rickyb]

In April, average hourly earnings for all employees on private nonfarm payrolls rose
by 7 cents to $26.19. Over the year, average hourly earnings have risen by 65 cents,
or 2.5 percent. In April, average hourly earnings of private-sector production and
nonsupervisory employees increased by 6 cents to $21.96. (See tables B-3 and B-8.)

are you sure?

i havent heard anything from michael hudson or richard wolff but its possible, the economy is garbage but unemployment is low

 

[oldngray]

are you sure?

i havent heard anything from michael hudson or richard wolff but its possible, the economy is garbage but unemployment is low

Why would you need to hear from them before evaluating facts?

 

[dudebro]

are you sure?

i havent heard anything from michael hudson or richard wolff but its possible, the economy is garbage but unemployment is low

Where?

Is this the real wages of US or OECD workers, which is level, or does this take into account the tremendous INCREASE in wages experienced by hundreds of millions in SE Asia, China, and India?