Higher Prices Stagnant Wages produce pay cut

[ljb]

Nicholas Riccardi
Los Angeles Times
Snippet
"For the first time in 14 years, the American work force has, in effect, gotten an across-the-board pay cut.
The growth in wages in 2004 and the first two months of this year trailed the growth in prices, compounding the squeeze from higher housing, energy and other costs."

Are you starting to feel it now, or is the novacain still numbing your senses ? :lol:

[PaceAdvantage]

Rise up! Where's my communist manifesto when I need it?

[ljb]

Rise up! Where's my communist manifesto when I need it?
PA,
What does this have to do with my post?

[JustRalph]

PA,
What does this have to do with my post?

he provides a view into your true soul.............

[ljb]

Huh?

[GeTydOn]

It's amazing that company's still think a 3% raise is equal to "cost of living" increases. I wish cost of living only increased 3% annually. But that ain't how it is.

At the rate taxes & insurance are going up each year, I'm gonna be escrowed right out of my house as it's causing my morgage payments to increase annually at a ridiculous rate.

[Secretariat]

GeTyed,

They don't get it.

If you average a 3% increase on your wages, they assume that if inflation rises 3% on everything you buy that it evens out. It's idiot logic.

It's like saying Ok, you've a $100 to go to the track, and we're going to give you a 3% wage increase or a $103. Now your expenses at the track must also go up 3% on everything. 3% to get in, for food, 3% for gas, for your mortgage, added takeout to cover the track loss for inflation, and it goes on.


And this they tell you equals it out. If you're making 200,000 and get a 3% wage or salary increase and inflation affects all those other costs perhaps so, but a 3% wage increase to a 20,000 worker versus a 200,000 doesn't mean that 3% in inflation affects them equally as a percentage of income. The 20,000 worker's 3% wage increase is eaten up in inflation costs quickly while the 200,000 worker still eats food, needs energy, etc.

Hang in there guy. You're dealing with masters who want your money.

[PaceAdvantage]

People are lazy, and they want something for nothing. They bitch and moan at their jobs all the time that they don't get what they should get, but at the same time, they're not out there looking for something better.

[ljb]

People are lazy, and they want something for nothing. They bitch and moan at their jobs all the time that they don't get what they should get, but at the same time, they're not out there looking for something better.
Your opinion of people leaves something to be desired. But what does that have to do with the original post?

[Suff]

People are lazy, and they want something for nothing. They bitch and moan at their jobs all the time that they don't get what they should get, but at the same time, they're not out there looking for something better.


SUFF HERE

Predicting Major Stock Decline (crash) within 70 days. Liquidate.

[Suff]

Your opinion of people leaves something to be desired. But what does that have to do with the original post?

he rarely has an optimistic view of the general populace.......he's with the "world values are going to pot" crowd. Immoral and all that. Turn to Christ or go to hell... Have some Godamm Morals...and what not.

Meanwhile... His cronies on Wall Street and K Street , whom he worships,
have driven us into Bankruptcy.

[Secretariat]

People are lazy, and they want something for nothing. They bitch and moan at their jobs all the time that they don't get what they should get, but at the same time, they're not out there looking for something better.

And where, pray tell, should they look for something better - India or China?

[GeTydOn]

And where, pray tell, should they look for something better - India or China?

EXACTLY!!!

The job market out there SUCKS!!!

:bang: :bang: :bang: :bang: :bang:

If I'm lucky enough to get a 3% "cost-of-living" increase (since it seems every company is crying poverty these days) - I'll take that rather than go flip burgers at Mickey-D's or work retail. That's about all that's out there without having to go back to school. And going back to school ain't free.

Don't group me into a "lazy, not looking for better" group!

[schweitz]

If any of you have "company paid" health insurance then you have received increases in your compensation---and if you have dependents covered on this plan you have received even more of an increase in compensation.

[Tom]

How many out there increased THIER output at work by 3% last year?:sleeping:

[ljb]

If any of you have "company paid" health insurance then you have received increases in your compensation---and if you have dependents covered on this plan you have received even more of an increase in compensation.
Not sure about the others but, my copay went up this year as did my portion of the premiums.

[PaceAdvantage]

SUFF HERE

Predicting Major Stock Decline (crash) within 70 days. Liquidate.

I don't predict, I react. With that said, I predict you are wrong....LOL

[PaceAdvantage]

he rarely has an optimistic view of the general populace.......he's with the "world values are going to pot" crowd. Immoral and all that. Turn to Christ or go to hell... Have some Godamm Morals...and what not.

Meanwhile... His cronies on Wall Street and K Street , whom he worships,
have driven us into Bankruptcy.

Worship? Hardly. Am I talking about Christ, Wall Street, or K Street? You figure it out....you know me so well....

[GeTydOn]

A 3% cost of living increase should demand a 3% increase in production from employees???!! Funny!!!
:eek:

I thought merit raises were given when employees are dumped with added responsibilities. I guess that explains why I've not gotten a merit raise and only gotten a cost of living raise for all the added crap I've had to taken on over the years. I guess merit raises are extinct?!

And while salaries are failing miserably to keep up with cost of living, health insurance coverage is costing MUCH more and covering MUCH less. So isn't that basically the equal to a company cutting salaries???

[Tom]

A business has price increases on most of its raw materials, and cannot raise its prices to its customers to offset them, so why is it logical that they give everyone a cost of living increase?

Real life example - tomorrow I have to lay of one third of my staff. 50% of our salaried staff is getting the axe. 60% of the union workers are out of work in three steps - May, June, July. We have already notifeid the local govenement - by law- of the major reduciton in workforce. Today, we told 30 people that they are working only 2 days a week for remainder of thier limited employment (this way, they can collect 3 days unemployment).

Contrary to popular opinion, businesses are not bottemless pits with cash to throw around.

I wonder how many of the 60% going out the door would be happy with a 3% pay cut and continued employment.

Had they increased productivity and contributed more to the financial success of the company, some of those jobs would not be leaving and they would still have jobs.
Oh, yeah - we unplugged an injection molding machine today to let the maintenance guys start prepping it for a road trip - to Mexico next week, where it will join two others we have already send there.

[ljb]

Had they increased productivity and contributed more to the financial success of the company, some of those jobs would not be leaving and they would still have jobs.
Oh, yeah - we unplugged an injection molding machine today to let the maintenance guys start prepping it for a road trip - to Mexico next week, where it will join two others we have already send there.
First, we have to assume you have increased productivity and contributed more to the financial success of the company since you still have a job. Or did you just take the 3 percent paycut with a smile?
Second, did management consider importing Mexicans to do the job ? I here this activity is a favorite of the neocons. ;)

[Suff]

I don't predict,

I do.

Wall St. Suffers worst Day in Two Years
04.15.2005, 05:23 PM

Wall Street suffered its worst single day in nearly two years Friday, with the Dow Jones industrial average falling 191 points for its third straight triple-digit loss. Deepening concerns over economic growth and higher prices led to the worst week of trading since August

http://www.forbes.com/home/feeds/ap/2005/04/15/ap1951243.html


I hope I'm wromg mike... but if you spend some time looking at the key economic indicators preceding the 1929 crash... You see some troubling comparisons. And I'm afraid the horse has left the barn....and despite the evidence to support a collapse... it cannot be avoided at this time.

And I say now... That the Chief Culprits are George Bush and The Wal-Mart Corporation.

[Suff]

SUFF HERE

Predicting Major Stock Decline (crash) within 70 days. Liquidate.


Posted 48 hours before the Biggest crash in 2 years. Liquidate....immediattely.

I'm jammed up.. If I liquidate my retirement account I'll be faced with a minimum of a 20% Tax hit, with an on and after 13% hit if I don't reinvest it , as a rollover ... I'm tempted to take the 33% hit now... rather than a 50%+ hit next week. Really pondering the move.

[PaceAdvantage]

Crash? You're joking, right?

The crash of 1987 was a TWENTY TWO PERCENT drop in one day on the Dow.

The last three days combined, we've dropped barely 4%.

We could have 5-6 more days of the kind of drop we had on Friday, and MAYBE we'd equal the last great crash of 1987.

This is nothing. We need to drop 2000 points+ on the Dow to equal the crash of 1987....

If you're really concerned, why not short the QQQQ, DIA, or SPY, or maybe sell some puts (or is that buy puts???) I'm not an options person myself, so I'm not 100% familiar with the terminology.

There are plenty of ways to hedge your bets if you believe strongly enough that we're going to see DOW 5000 by next Friday....LOL