posted on September 18, 2004 04:12:17 AM new
Extracts
A New York Times article published July 18 (“Hourly Pay in US Not Keeping Pace with Price Rises”) noted: “The June drop, the steepest decline since the depths of recession in mid-1991, came after a 0.8 percent fall in real hourly earnings in May. Coming on top of a 12-minute drop in the average workweek, the decline in the hourly rate last month cut deeply into workers’ pay. In June, production workers took home $524.84 a week, on average. After accounting for inflation, this is about $8 less than they were pocketing last January, and is the lowest level of weekly pay since October 2001.”
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Greenspan’s call for limiting wage growth, curtailing social programs and increasing tax cuts comes at a time when even the mass media are taking note of reports documenting the fact that the so-called recovery has almost exclusively benefited the most wealthy and privileged sections of the population.
On the same day as Greenspan’s Senate testimony, for example, The Wall Street Journal published a front-page article under the headline: “Affluent Advantage: So Far, Economic Recovery Tilts to Highest-Income Americans.”
posted on September 18, 2004 08:22:48 AM new
Meanwhile, the government is creating fiat money in excess to the tune of $500 billion a year. In the last twelve months housing prices have doubled where I live. Yes, doubled. Gee, sorta like the price of gas in the last two years.
posted on September 18, 2004 10:15:13 AM new
parklane,
where do you live??
here we cant give our houses away,they sit and sit on the market and finally leased.
-sig file -------Life is one big happy 'All You Can Eat' buffet .
posted on September 18, 2004 04:01:17 PM new
Here in California the hosuing market has slowed down recently--they starttoget a bit worried, a realtor said on the news a couple of nights ago, if a house hasn't sold after a week or two. Some folks I know barely had their signs up to sell & their house had a buyer & they got the price they wereasking, no dickering. Houses have been selling in 1 -3 days around here.
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"Bad temper is its own scourge. Few things are more bitter than to feel bitter. A man's venom poisons himself more than his victim." --Charles Buxton
Some folks I know barely had their signs up to sell & their house had a buyer & they got the price they wereasking, no dickering. Houses have been selling in 1 -3 days around here.