50% Of Americans Make Less Than $28,031/Yr.

The Social Security Administration has just released wage statistics for 2013, and the numbers are startling.  Last year, 50 percent of all American workers made less than $28,031, and 39 percent of all American workers made less than $20,000.  If you worked a full-time job at $10 an hour all year long with two weeks off, you would make $20,000.  So the fact that 39 percent of all workers made less than that amount is rather telling.  This is more evidence of the declining quality of the jobs in this country…

http://theeconomiccollapseblog.com/archives/50-percent-of-american-workers-make-less-than-28031-dollars-a-year

Recovery?  Are you sure?

Closures include 46 Kmart, 30 Sears and 31 Sears Auto Center locations.
5,457 workers will lose their jobs.
Pennsylvania, Michigan and Indiana are hardest hit.

Sears Holdings Corp. (NASDAQ: SHLD) is laying off at least 5,457 workers and closing over 100 Kmart, Sears and Sears Auto Center locations, many before Christmas…

How much longer can they keep up the losses? Amazon has never made a dime, but they have burnt through billions of $$$….

Amazon is running out of excuses for losses

Amazon.com Inc. reports quarter three earnings today and analysts are expecting a loss of $0.75 per share according to FactSet. That’s a significant jump from their loss of $0.09 per share for the same period last year. Amazon follows a “profitless prosperity” model so losses aren’t unexpected, and typically Wall Street shrugs them off. This year, however, Amazon (AMZN) has seen more than a 20% drop in value on the NASDAQ.

Wall Street is becoming restless– is it time for Amazon.com CEO Jeff Bezos to start focusing on the bottom line?

Yahoo Finance’s Henry Blodget believes that investors are clearly becoming frustrated. “I think what really spooked people was the big loss that they forecasted this quarter. It was startling even to me,” says Blodget who has been a long time Amazon shareholder…

http://investmentwatchblog.com/sears-laying-off-5457-closing-over-100-outlets-46-kmarts-61-sears-many-before-x-mas-amazon-is-running-out-of-excuses-for-losses/

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Wages Haven’t Grown In 15 Years

The following article from the New York Times is actually pretty awful. However, the admission that wages have failed to grow in 15 years is important. Particularly in light of the fact that we are five years into the second so-called “recovery” since the turn of the century. These are recoveries that only Joseph Goebbels could love.

While the wage growth stagnation observation is helpful, what’s so sad about the article is that rather than dive into the underlying systemic issues driving this horrible statistic, the author spends most of the article explaining why we should be optimistic. It’s a nice try, but when systemic issues aren’t being addressed from a systemic standpoint, things don’t just magically get better.

Here are some excepts from the article as well as my commentary:…

http://www.blacklistednews.com/New_York_Times_Admits_Wages_Haven%E2%80%99t_Grown_in_15_Years%2C_Worst_Since_Great_Depression/38483/0/38/38/Y/M.html

 

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