Wednesday :: Jul 26, 2006

A Diller A Dollar, Bu$hCo Scholar!


by pessimist

As I was headed in to the salt mine yesterday, I first noticed signs of the Bu$hCo economic boom failing.

Due to higher gas prices, some people are being forced to leave their cars at home and ride in to work with someone. I didn't get to talk with the two people I saw standing on the side of the road in two different locations on either end of my 50-mile, one-way commute, but there was something in common with both - a resigned look of frustration.

Look at the car ads to see what inspires this frustrated look. Every time they want to sell a car to a younger man, he's out tearing up the road in the country (assuming that he's even ON the road in the first place!) without another car in sight. He's got POWER! He's experienceing REAL FREEDOM!

But then, Monday Morning Reality returns, and puts him behind a million other 'free and powerful drivers' as they inch their way to work and back home again in the daily migration of labor lemmings.

Then to add insult to injury, he has to share a ride, maybe with a complete stranger, and give up his freedom and his power to control his driving destiny. He can no longer realize the promise of the commercials which convinced him to buy his Belchfire V-8 convertible with the spinner hubs, now sitting idle in the driveway with an empty gas tank.

Now he's a loser - unable to afford freedom and power. He's just like everyone else again.

This scenario of people standing on the corner watching all the cars go by while waiting for his own ride is going to become more common. Considering that the purchasing power of real wages are dropping every bit as fast as gas prices go up (assuming one still has a real job that pays more than minimum), I'm somewhat surprised that this hasn't happened sooner.


Those with bachelor's degrees are finding their incomes stagnate despite a growing economy
By Molly Hennessy-Fiske, Times Staff Writer
July 24, 2006

Wage stagnation, long the bane of blue-collar workers, is now hitting people with bachelor's degrees for the first time in 30 years. Earnings for workers with four-year degrees fell 5.2% from 2000 to 2004 when adjusted for inflation, according to White House economists.

King George's own Greasy Thumbs can't even hide the truth about their master's failures as an economics theorist! Tax cuts are NOT stimulating the economy:

[S]tudies have found that their inflation-adjusted wages were essentially flat between 2000 and 2004, and the studies have confirmed a decline for people with four-year degrees.

Offshoring, which has shifted manufacturing and call-center jobs to such nations as Mexico and India, is increasingly affecting white-collar sectors such as engineering and software design.

REMEMBER: George sent Colin Powell to India back in 2004 to promise the Indians that American jobs would continue to move to India.

But I digress.

[C]ompanies have continued their long effort to replace salaried positions with lower-paid, nonsalaried jobs, including part-time and freelance positions without benefits.

Those contingent positions make up nearly half of the 6.5 million jobs created since 2001, said Paul Harrington, a labor economist at Northeastern University in Boston. Harrington said the number of salaried jobs increased an average of 11.5% during the last five economic recoveries, compared with 2.5% during the current recovery.

"There's clear deterioration in the college labor market," he said.
"The American economy just does not generate jobs the way it has historically."

How can it, when it has been gut-shot and garrotted by the Gang of Bu$h?

"Whether or not new college graduates are making more than they were five years ago, we do know the same people will be making more five years from now," said White House spokesman Ken Lisaius.

I wouldn't accept any assurances from this White House that they 'know' anything!

* Didn't they 'know' where Osama was hding?
* Didn't they 'know' that Saddam had WMD?
* Didn't they 'know' where they were so they could prove that assertion to the rest of us?

So how can they 'know' that people will be making more (more WHAT? - Dead foreigners?) in five years when it's clear they don't really know ANYTHING???

"The administration is saying the only reason people are not sharing in the recovery is they don't have the right skills," said Lawrence Mishel, president of the Economic Policy Institute. But if college graduates are not doing well, Mishel said, "what does that say?"

It says "Bye, bye, Missed American Pie In The Sky!"

Harvard University economist Richard Freeman gained fame for his 1976 book The Overeducated American, in which he detailed the previous erosion of college graduates' wages. Today, he believes college-educated workers will continue to see their wages erode because of the increasing globalization of the labor market.

And wage erosion is likely only to intensify as the number of college graduates rises in China, India and other offshoring hubs. China alone expects the number of college graduates to increase by 22% this year, with 4.13 million job candidates entering a domestic market with only 1.66 million jobs available, according to a Chinese government report released in May.

That isn't the only effecit with exposes the economic lies of Bu$hCo:

In fact, economist Harrington predicted a related ripple effect from wage stagnation:
"It's going to delay marriage.
It's going to delay child-rearing,"
he said.

Maybe that's why Bu$hco is so opposed to the Morning-After pill! It's maybe the only way young women will become mothers - forced into the role by rape, and thanks to Abu Ghraib and certain US Marines, we KNOW how the (mis)Administration feels about that crime! Then Bu$hCo won't run out of angry youth to sic upon the rest of the world in it's mad quest for conquest!

The Times ends their article with a few interesting facts which illustrate the sort of jobs 'created' under Bu$hCo economic policies:

Learn and earn?

The average annual wages of college graduates fell during the economic recovery; those of high school graduates rose. Figures are adjusted for inflation.

Four-year college graduates
2000: $54,396
2004: $51,568

Percent change: Down 5.2%

High school graduates
2000: $28,179
2004: $28,631

Percent change: Up 1.6%

Source: The 2006 Economic Report of the President

"Some of these people are never going to catch up. There is a real price we pay here in terms of the cost to the economy."

Keep this in mind when you go into the Diebold vote theft device this fall. Make Bu$hCo steal your vote, but have the satisfaction that you intended to vote them out - just as they intended to make you a rich man, scholar!

~*~

In order to do our part to help commuters, I'm presenting eRideShare.com, a site intended to assist people with finding others to ride with to and from work.

~*~


Copyrighted [©] source material contained in this article is presented under the provisions of Fair Use.

FAIR USE NOTICE

This article contains copyrighted material, the use of which has not always been specifically authorized by the copyright owner. I am making such material available in my efforts to advance understanding of democracy, economic, environmental, human rights, political, scientific, and social justice issues, among others. I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material in this article is distributed without profit for research and educational purposes.
pessimist :: 3:47 AM :: Comments (19) :: TrackBack (0) :: Digg It!