Your Opinion: Thoughts on wages and the economy
Tuesday, May 14, 2013
Redistribute the wealth. I believe that’s what our president said. He has helped do that all right and his predecessors. We have seen jobs go overseas and to Mexico for the past 20 years plus, unions being busted, stagnant wages and depreciation of the dollar.
According to the International Socialist Review, great magazine, very informative, not corporate, the president is trying to bring back jobs to the U.S. Chinese wages have risen 18 percent per year, five times what they were in 2000 and shipping costs added in make the U.S. competitive again.
Obama has offered cheaper unorganized and skilled labor as a pivotal incentive for American re-industrialization.
After three decades of class war on the U.S. working class, wages and benefits are now the lowest in the advanced capitalist world. Obama’s bailouts and austerity measures have further driven down the cost of labor. As a result, according to the Economist, “real wages in American manufacturing have declined 2.2 percent since 2005.”
American workers’ wages, adjusted for productivity, are now 2.3 times Chinese levels, down from 4.6 times in 2005.
When the cost of transporting goods is subtracted we are now actually competitive with workers in China. Is this good? Maybe. It’s jobs but with lower wages, two-tiered pay and loss of benefits. Maybe that’s why Obama pushed health care reform so hard to have some health care for everyone.
Social Security is in the sights of Wall Street. Conservatives don’t like it either. It’s a government program. But it works.
This is capitalism. This is the way capitalism works, cut wages and benefits of the working class, redistribute to the ruling class.
“There is nothing wrong with our economy,” Jeff Monson, a cage fighter said.
This is how capitalism survives. This is the way it is supposed to work.
You like it fine. If not try and change it. Our last great president said work two or three jobs, it’s the American way. He also said on TV, “We are going to turn the U.S. into a third world nation.” Would someone find this in archives.
Who has time to work four jobs or feels like it.
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