Been awhile. If you are like me, most likely you don’t need anyone to tell you that the last decade from 2000-2009 was crap for the average man. I don’t know if you saw the article in the Washington Post, Aughts were a lost decade for U.S. economy, workers.
The writer, Mr. Irwin reports that “There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent.” Who among us either hasn’t been laid off or know someone who has been?
Tough to imagine digging out of this recession/depression/cycle when for the first time since they’ve been keeping track of such things that “Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999…”
The assets of the average man have also lost value. Our houses are worth less now than just a few years ago. If you bought real estate not too long ago than you are most likely under water too. 401Ks Hahaha!! For all the public sparkle about the “Recovery” your stocks and mutual funds are also worth less.
I just read an article in Business Week “The Disposable Worker.” The article laments that there are more of us working less full-time jobs that provides benefits. One woman works as a customer service rep from her house. She gets paid 25 cents a minute ($15hr) but only for the minutes she is actually taking a call and of course no benefits. She is very grateful for the job. Companies now hold all the cards and are trying to reposition payroll costs from the fixed to the variable cost category. I work three jobs. I’m not complaining. I like it, but I work as a contract worker = no paid time off, no paid sick time, no paid vaca time, no pension nor 401k. I have to pay my own taxes and both sides of FICA. Then I also work as a part-time worker for a college. Same deal. No nothing. It’s coming soon to a neighborhood near you.
It seems that most of the problems were due to easy credit. Too much money available to build/buy too many unnecessary structures. Up here in Massachusetts you can’t drive around without seeing dozens of signs for commercial office space.
And guess what, there are still dozens of projects in the pipeline. In my town there is a new project that will create half a million feet of office space. Right up the street there are 000’s of feet for rent. Why in the world would anyone build commercial space when there are so many vacancies? I have some friends in the trades. People are still building brandy new houses. Strange when I look in the paper everyday and see pages of foreclosures.
Don’t be lulled. I think what you see is what you got – slow slide. What I fear the most is likely to happen is an increase in energy prices. For lots of people it may soon cost them more to get to work then they get once they are there.
It still is and always will be cheap as shit to GET OUTSIDE EVERYDAY!!!
Just a nice little old cross country ski trail. I ski down on the left side of the footpath and make as many turns as possible. Yeah, I’m pretty good. Beautiful winter day about 30 degrees out. The ski down was so much fun I hoofed back up it a couple of more times to ski back down.