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Nov 10 - 53 Million Americans Drowning in Cycle of Low-Wage Work


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 4 days ago '06        #1
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RAZAH CUTS  topics gone triple plat - Number 1 spot x11
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Nov 10 - 53 Million Americans Drowning in Cycle of Low-Wage Work
 

 



It’s the “Greatest Economy Ever,” right? Well, it depends on who you ask.

For instance, a new report sheds light on 53 million Americans, or about 44% of all US workers, aged 18 to 64, are considered low-wage and low-skilled.

Many of these folks are stuck in the gig economy, making approximately $10.22 per hour, and they bring home less than $20,000 per year, according to a Brookings Institution report.

An overwhelmingly large percentage of these folks have insurmountable debts in that of student loans, auto loans, and or credit cards. Their wages don’t cover their debt servicing payments as their lives will be left in financial ruin after the next recession.

While the top 10% of Americans are partying like it’s 1999, most of whom own a*sets—like stocks, bonds, and real estate—are greatly prospering off the Federal Reserve’s serial a*set bubble-blowing scheme and President Trump’s stock market pumping on Twitter.

Today’s artificial economy isn’t working for everyone as the wealth inequality gap swells to crisis levels.

The US is at the 11th hour, one hour till midnight, as the wealth inequality imbalance will correct itself by the eruption of protests on the streets of major metro areas, sort of like what’s been happening across the world in Chile, Hong Kong, Lebanon, and Barcelona.

An uprising, a revolution, people are waking up to the fact that unelected officials and governments have ruined the economy and has resulted in their financial misery of low wages and insurmountable debts.

The report shows almost half of all low-wage workers are clustered in ten occupations, such as a retail salesperson, cooks and food preparation, building cleaners, and construction workers (these are some of the jobs that will get wiped out during the next recession).




Shown below, most of these low-wage workers are centered in areas around the North East, Mid-Atlantic, and Rust Belt.




As we’ve detailed in past articles, millions of these low-wage and low-skilled jobs will never be replaced after the next recession, that’s due in part to mega corporations swapping out these jobs with automation and artificial intelligence.

The solution by the government and the Federal Reserve, to avoid riots in the streets, will be the implementation of various forms of quantitative easing for the people.

There’s a reason why you already hear the debate of universal income, central banks starting to finance green investments, and other various forms of short/long term stimulus, that is because the global economy is grinding to a halt—and the only solution at the moment is to do more of the same.




 https://themindunleashed. .. wage-work.html



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 4 days ago '07        #2
Chief|m 
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Trump bullsh*t aside, every administration been doing this for a while now

"record high employment numbers" etc etc

they'll claim all that bullsh*t, not saying that it's a bunch of part time, low wage, and or seasonal work only
+1   

Top 10 most propped recently  4 days ago '19        #3
Big Tymerz  topics gone triple plat - Number 1 spot x9
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A Jobs a job, money is money
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 4 days ago '16        #4
Humblegold 
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Yea here in AZ for the most part you sacrifice wage for sense of place. I live in a cool safe, scenic historic town but underpaid. You get what you take. Phx pays well but that place is pretty bland. A lot of californians and rehab people from the east fu*king up the housing market in the more mountainous places, which makes it tougher.
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 4 days ago '12        #5
Di Warlord 
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highest GDP yet we have so many low-wage workers

If you wanna make America great this aint it fam

 3 days ago '09        #6
messy marv stan  topics gone triple plat - Number 1 spot x7
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2 things caused this:

rich people corporate welfare
the phony trade wars


if those 2 didnt happen the fed mafua would not be printing $120 billion a day just to prop up the stock market. the money could be used fir job training or wiping out student debt. or making sure that nobody making under $100k is extorted by the irs
+3   



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