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SoCalDem

(103,856 posts)

5. It's no accident that as pensions (which used to be the norm) were eliminated

Reply to HiPointDem (Reply #4)

Tue May 21, 2013, 05:09 AM

May 2013

at the same time as 401-k (a 40 year stake for wall street gamblers) came along to replace them.

Legislation (planning) put the final nail in coffin for savings account interest that made sense..wages fell/stagnated just as EZ-credit plastic came along to "fill the gap".. replace wages & real assets with borrowed money.

Not accidental at all.

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Ongoing disaster evident in too many states [View all] HiPointDem May 2013 OP

alas, those stats are just not true. They cover up just how great the comeback is. graham4anything May 2013 #1

The glass used to be full of milk. Now it's 2/3 full of sewage. But perhaps you have a point. n/t jtuck004 May 2013 #6

I have to agree. Summer Hathaway May 2013 #2

The folly of the "consumer/service" economy in action SoCalDem May 2013 #3

"thought the whole thing would hold together long enough for the Boomers to die off" HiPointDem May 2013 #4

It's no accident that as pensions (which used to be the norm) were eliminated SoCalDem May 2013 #5

How is doing nails any different from making widgets for each other? Recursion May 2013 #7

one used to pay a living wage Skittles May 2013 #8

And doesn't anymore. That doesn't have anything to do with service vs. manufacture Recursion May 2013 #9

mmmm,....... Skittles May 2013 #10

Yes, arguing that manufacturing is magically better than service is a waste of time Recursion May 2013 #12

How does a service economy create wealth from raw materials? House of Roberts May 2013 #14

Services and goods both have finite lifetimes, and both increase quality of life Recursion May 2013 #15

We have an 11.2% unemployment rate in our rural county fasttense May 2013 #11

we have about 10% last i checked. the view is different from this angle. HiPointDem May 2013 #13