Monday, March 09, 2009

Lower Wages For All

Have you just lost your job? Chances are even if you can find a new position the wages that will be offered to you could be much less than your current salary.
With "no end in sight" for U.S. job losses amid a recession that could stretch into 2010, American workers will soon have to contend with another blow to their confidence: stagnant, or even falling wages.

Job seekers -- already coping with the highest unemployment rate in a quarter century, their savings mugged by a plunging stock market -- can also expect lower pay once they land a new job, labor market experts say, because the current downturn shows no signs of turning around anytime soon.
How much more could wages drop? Adjusted for inflation real wages have been stagnant since the Reagan administration. What could be done on one salary in the 1970's now takes at least two. The redistribution of wealth that started with Reagan has continued unabated with the end result the greatest financial disaster we have experienced since the Depression. Am I the only one that can see the start parallels to that time? It was the robber barons of the 1920's and the excessive greed that pushed us to the brink then and its the modern day robber barons of Wall Street that have pushed us there today. Just like in those times, those that have caused this disaster have walked away millionaires. Am I the only one who wants to see many of these fools marched off to a maximum security prison?

I'm as mad as hell and its time we raise our voices and demand an end to the politics as usual. Its time to rid our political system of the big money donations that have corrupted the system and caused the lawmakers to turn a blind eye to the rampant greed and corruption that plaques the political system.

I think President Obama truly does stand for change but will we stand with him as he is assaulted at every turn by these big money interests. They have no desire to change a system that has provided them with obscene wealth and power and will fight dirty to keep this corrupt system in place. It's time we show them that we will fight back.

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