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In reply to the discussion: My Wife Believes American Workers Being Positioned To Accept Lower Living Standard. [View all]politicman
(710 posts)Of course people are being positioned to accept a lower standard of living.
This is achieved by cutting jobs and by outsourcing which in turn results in overwhelming numbers of people applying for the few jobs available, thus the employer has desperate people that will work for less just so they can try and scrounge enough money to feed their families.
This also doesn't affect the quality of the work being done, because to get these few jobs that give shitty wages, people still need to get all kinds of degrees to qualify.
Its because of a couple of factors:
1) Money creates more greed:
The more money a person has, the greedier they get. and thus want more money, and so on.
The 1% have billions of dollars, they could never spend it all no matter if they kept purchasing every hour of the day, but they still want more money, which they get at the expense of normal working people.
For instance: Bill Gates is worth 67 billion dollars, how much more money would be enough for him?
(This is nothing against Gates who has done some good, but it was an example of rich people not being satisfied with already having enough to last their families for the next 15 generations).
2) The Stock Market:
The fact that the stock market punishes the stock price of company's for not constantly beating expectations is another reason why company's care about profits more than providing a living wage to the few workers they have left.
The stock market would be a good thing if people bought shares in company's and expected only dividends and the rise in price of the shares if the company performed well.
The problem is that the stock market has become all about 'speculation'
People buying shares based on speculation has created a market where investing in a company no longer means owning a share of that company and taking a share of its profits, but instead has resulted in trying to speculate as to how the rest of the market will treat a company that you plan on buying shares of.
This leads to company's doing everything in their power to maximise profits so as to beat the streets expectations as this is the only sure way of decreasing the ups and downs in share prices as a result of speculation.
The CEO's and their staffs also have large amount of their company's shares, and market sure the market does not punish their share price means they continue to male money as well.
And this all comes back to what I said earlier, money creates more greed.
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