Posted on Tuesday, 17 April 2012

American wages have plummeted so low that a two-income family is now (on average) 15% poorer than a one-income family of 40 years ago.

abaldwin360:

NEW YORK (Bullion Bulls Canada) — In writing about the relentless collapse of Western economies, I frequently point to “40 years of plummeting wages” for Western workers, in real dollars. However, where I have been remiss is in quantifying the magnitude of this collapse in Western wages.

On several occasions, I have glibly referred to how it now takes two spouses working to equal the wages of a one-income family of 40 years ago. Unfortunately, that is now an understatement. In fact, Western wages have plummeted so low that a two-income family is now (on average) 15% poorer than a one-income family of 40 years ago.

read more

544 notes

  1. endofbabylon reblogged this from fuckyeahmarxismleninism
  2. thecomplaintbox reblogged this from mswyrr
  3. trexcommentary reblogged this from questionall
  4. bearbearpdx reblogged this from resmc
  5. quezsecist reblogged this from occupyingyourpolitics
  6. ascratchpad reblogged this from thrivingindystopia
  7. iturnedintoatree reblogged this from stfuconservatives
  8. weian-fu reblogged this from reagan-was-a-horrible-president
  9. cosmicrubric reblogged this from stfuconservatives
  10. ammirato reblogged this from resmc
  11. itsnotsayruh reblogged this from stfuconservatives
  12. wozziebear reblogged this from truth-has-a-liberal-bias
  13. ryouverua reblogged this from stfuconservatives
  14. sarahlizfits reblogged this from reagan-was-a-horrible-president
  15. librariansdoitinthestacks reblogged this from destroythegop
  16. felixrocketship reblogged this from sexgenderbody
  17. winneganfake reblogged this from sinshine
  18. sinshine reblogged this from sexgenderbody
  19. alexandrarae- reblogged this from stfuconservatives
  20. bingonightatthestripclub reblogged this from depechemoses
  21. lettersiarrange reblogged this from le-kif-kif
  22. canadamaple reblogged this from amodernmanifesto
  23. axelssonkatt reblogged this from diarrefpuckhookyplay-em-offs and added:
    But that’s only half of it. Sure, inflation is eating up the value, but wages themselves have remained stagnant for...
  24. thurmansnotebook reblogged this from amodernmanifesto
  25. depechemoses reblogged this from secretaryofswagriculture
  26. napalmjoy reblogged this from fightjunknotpunk
  27. scruffylookinggoatherder reblogged this from fightjunknotpunk
  28. fightjunknotpunk reblogged this from proletarianinstinct
  29. diarrefpuckhookyplay-em-offs reblogged this from proletarianinstinct and added:
    tee hee Inflation~ Gotta love the floating dollar.
  30. amodernmanifesto reblogged this from le-kif-kif
  31. proletarianinstinct reblogged this from le-kif-kif
  32. snowdropxvx reblogged this from le-kif-kif
  33. secretaryofswagriculture reblogged this from le-kif-kif