I would guess that Bernanke got a raise and that's the basis for his comments. Like most upper echelon corporate sycophants he's having difficulty seeing beyond the scope of the blinders he's been wearing for a long while. Did Bernanke miss these few recent items?
I guess Bernanke didn't get the memo that real wages have generally been going downward the past few years...whoops.
ReplyDeleteNot years. Decades. Real hourly wages peaked in the early 70s.
ReplyDeleteI would guess that Bernanke got a raise and that's the basis for his comments. Like most upper echelon corporate sycophants he's having difficulty seeing beyond the scope of the blinders he's been wearing for a long while. Did Bernanke miss these few recent items?
ReplyDeletehttp://www.nytimes.com/2010/07/26/business/economy/26earnings.html?scp=7&sq=Harley-Davidson%20wages&st=cse
http://www.nytimes.com/2010/08/04/business/economy/04paycuts.html?adxnnl=1&adxnnlx=1281016835-uTHihrSHZ1G7vUeav4bEZA
And even some executives are in danger, if they're not corporate executives that is.
http://www.nytimes.com/2010/07/27/us/27nonprofit.html