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View Diary: CSI: Federal Reserve (221 comments)

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  •  I agree with Bernanke. (3+ / 0-)
    Recommended by:
    Devilstower, musicsleuth, lams712

    It's all Manny Ramirez' fault.

    Seriously though, here are my thoughts on the issue (and there's nothing particularly profound or original here).

    • Average workers are making less for at least 3 different reasons:  
    1. the stagnant minimum wage;
    1. attacks on unions and decreasing union participation; and
    1. the syrocketing cost of health insurance.

    Point 3 is important because it results in workers (including many union employees) agreeing to accept lower salaries or slower increases in wage growth in exchange for health benefits.

    • CEOs get paid more because the world of corporate governance is incestuous and cannibalistic, meaning that all of the high level executives know and work with each other and frequently compete to pilfer talent from other corporations, in this way, the analogy to Manny Ramirez and skyrocketing athlete salaries is apt.  And when it comes right down to it, most of these guys control their own salaries.  If I controlled mine, you'd better believe I'd be making more than I do now.

    I would rather be exposed to the inconveniences attending too much liberty than those attending too small a degree of it. -- Thomas Jefferson [-4.25, -5.33]

    by GTPinNJ on Wed Feb 07, 2007 at 11:33:52 AM PST

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