There are dynamics emerging in the Developed Economies that suggest the large-scale bifurcation between wage earners and white-collar workers that has emerged in the last thirty years may have gone too far and the return to a more normalized distribution of compensation in the cards. Unfortunately we don’t think this helps the US and European working class to any great extent.
Our friends at New America (Lauren Damme) have a report out today on just such a Greek-Style American tragedy unfolding right in our own back yard.
As if wages weren’t enough here’s the sucker punch.
So, even if you have a job it doesn’t sustain you or let you pay down that mountain of debt or GASP – save!
Saving? Paying down debt?
Now that would create an economy that was sustainable. At the moment it is sadly not in the cards.
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