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Economics Discuss Itís No Accident Americans Are Still Broke in a Booming Economy at the Political Forums; A new report out this month from the Organization for Economic Cooperation and Development (OECD) makes it clearer than ever ...

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Old 07-09-2018, 09:23 PM
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Default Itís No Accident Americans Are Still Broke in a Booming Economy

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A new report out this month from the Organization for Economic Cooperation and Development (OECD) makes it clearer than ever that this dynamic of workers falling behind is not some kind of statistical aberration or case of bad luck. Policymakers in America have made it a hell of a lot harder, by design, to move up in the world compared to the way things work in other countries. And despite low unemployment and other signs of a booming economy, itís probably only going to get worse from here.
https://www.vice.com/en_us/article/e...ooming-economy
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workers' share of the national income is uniquely lowóand has fallen uniquely fastóin the US. The government also provides much less support for fired or laid-off people than other countries do, and that lack of support can haunt the unemployed for the rest of their lives. Income inequality (in terms of workers earning less than half the median) is in fact worse in the US than almost anywhere else in the developed world. And thanks to a decades-long war on organized labor, fewer workers are covered by collective bargaining agreements than workers in almost every other OECD nation.
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That last point is a key one, since unionization rates help dictate everything else in American life, from how good wages are at nonunion jobs to the kinds of policies and politicians we get. As a result of a recent Supreme Court ruling, unions are about to get smaller, which means fewer Americans will be covered by collective bargaining agreements, and more will be at the mercy of their bosses. Another recent Supreme Court ruling blocked class-action lawsuits by workers, which will give them fewer ways to fight wage theft.
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So on the one hand, regular Americans are in a particularly tough spot, and the OECD report suggests this is largely because unions came under withering attack and lawmakers have embraced policies favoring the super rich. On the other, that squeeze is only poised to get tighter courtesy of the judges and policies of the president who promised he alone could fix it all. Trump, however, doesn't seem to actually care about helping workersóhe canít stop crowing about how historically spectacular the economy is, and how his tax cuts and tariffs and anti-immigrant crackdowns made it all possible. Now that he's president, he seems to have decided the system is largely fine. Meanwhile, Americans increasingly agree with him that the economy seems good and that he should get the credit, polls show, but they also have less control over their financial destiny than millions of other people across the world.
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Sooner or later, Americansí real wages (accounting for inflation) will start to grow meaningfully along withóif not anywhere as fast asóWall Street profits and their debt loads will come down, or else growth will continue to favor a tiny investor class. We all know which is more likely, and the worst-case scenario isn't the one Democrats whisper about: that the good economy will help Republicans keep control of Congress in the midterms or even the White House in 2020. The real worst-case scenario is that when the next big recession inevitably hits, the resentment that fueled Trump's rise will somehow get even hotteróand rather than launching some kind of Democratic socialist, it propels an even more craven demagogue to power.
Things are not at all rosy here in the land of the fee.
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Old 07-10-2018, 07:54 AM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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Originally Posted by saltwn View Post
https://www.vice.com/en_us/article/e...ooming-economy

Things are not at all rosy here in the land of the fee.
Well, wasn't that a nice bit of Socialistic sunshine.

You do realize: Lower unemployment means people will be paid more in a employer-competitive market.

No one forces most people to accumulate debt. That is a personal choice, for which only the individual is responsible.

They only person responsible for how much someone makes, is the person themselves. I find it pathetic that people continue to wave the 'income inequality' banner as though some mysterious third party should be responsible for making sure everybody makes enough money to make them comfortable, regardless of skill or market value.

Life is not some guaranteed ride - the basis of this country provides people with the opportunity to work towards their goals, not an absolute, and only if they apply themselves to get there.

Stop worrying about what someone else makes, or what someone else has. Apply yourself to reach your goals, don't expect them to be handed to you. There are no guarantees in life: hope for the best, plan for the worst.
The government is not your friend.
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Old 07-10-2018, 02:53 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

I would think being broke in a booming economy takes some serious dedication.
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Old 07-10-2018, 03:39 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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Originally Posted by GottaGo View Post
Well, wasn't that a nice bit of Socialistic sunshine.

You do realize: Lower unemployment means people will be paid more in a employer-competitive market.
not any more
used to be that way but when all American wages were lowered in the 80s with the demise of union strength plus Texas, Illinois and Cali housing busts (making harder to say no to lower pay), the system has changed. Also you gotta factor in the bulk of manufacturing is now done in slave wage countries.


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No one forces most people to accumulate debt. That is a personal choice, for which only the individual is responsible.
no you can live on the river bank if the county allows it I guess. And walk 10 miles to work. Good luck with that.
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They only person responsible for how much someone makes, is the person themselves.
Again if the deck is not stacked against the person just getting into the system or had had set backs, I would agree.

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I find it pathetic that people continue to wave the 'income inequality' banner as though some mysterious third party should be responsible for making sure everybody makes enough money to make them comfortable, regardless of skill or market value.
no. highly skilled people still make shiddy wages; depends on area and if they are lucky and can join a strong union.
Like when two car manufacturers came to alabamy and kaintuck and the politicians there said no dice if you are going to allow unions. (because that would raise over all economy-cant have that if you wanna manage a small oligarchy )
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Life is not some guaranteed ride - the basis of this country provides people with the opportunity to work towards their goals, not an absolute, and only if they apply themselves to get there.
yeah I'm sure folks who work two jobs and can't make ends meet know that already.
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Stop worrying about what someone else makes, or what someone else has. Apply yourself to reach your goals, don't expect them to be handed to you. There are no guarantees in life: hope for the best, plan for the worst.
The government is not your friend.
We don't want it as our enemy which it is right now as far as the American worker is concerned.
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Old 07-10-2018, 03:40 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

I'm not broke, but then I worked hard for years to get to this point. I was raised with the work ethic that so many lack now.
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Old 07-10-2018, 05:34 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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I'm not broke, but then I worked hard for years to get to this point. I was raised with the work ethic that so many lack now.
you're not just starting out either. today's workers are not as fortunate as those of us who benefited from a more free system.
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Old 07-10-2018, 09:17 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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you're not just starting out either. today's workers are not as fortunate as those of us who benefited from a more free system.
What exactly is less free now? Inquiring minds want to know...
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Old 07-10-2018, 09:48 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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Originally Posted by FrancSevin View Post
I would think being broke in a booming economy takes some serious dedication.
I agree.....


This can of quit for those who never were go getters is an old, over played broken record.....
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Old 07-10-2018, 09:52 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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Originally Posted by Lumara View Post
What exactly is less free now? Inquiring minds want to know...
the minimum wage used to be smaller but for the time period it was enough to get you through till you finished college or got a better career. Taking a second job you could decide between blowing it on an immediate want or saving for the future.
The minimum wage increased by increments but it did increase and mostly kept up with inflation. And savings accounts used to draw much more interest than the piddly little they do today. You could also buy a bond once in awhile. Roll all that over into a more lucrative investment as they grew.
Today you have to work two jobs starting out. Just to survive. As prices have increased on everything, wages have not. In fact wages went through a period of sinking for awhile a couple of times in the past 40 years.
While mortgage lenders croon about low interest rates their spiel is a crock 0 bologna. 3% on a 200K home you (on average) will never live long enough to pay for let alone sell and buy bigger. Versus A 45K home at 8 or 12% you can double payments every now and then and pay off early, move your family into a bigger house as they grow.
There's more but thats some main highlights.
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Old 07-10-2018, 09:52 PM
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Default Re: Itís No Accident Americans Are Still Broke in a Booming Economy

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you're not just starting out either. today's workers are not as fortunate as those of us who benefited from a more free system.

What.....???




What decades and people are you referencing....?
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