Originally posted Oct 24, 2014; 9:00 pm
Faced with the reality that our (n)ever recovering economy hasn’t reached me yet, I started a totally tolerable, short-term temp job today involving the upcoming election, but not going door-to-door. I was surprised though at hearing that I shouldn’t encourage people to vote if I knew that they are against the position of this campaign.
I thought I’d see if there was anything I wanted to write about and checked the newswire in here. Handy that as I was quickly struck dumb by two awful headlines.
50% Of American Workers Make Less Than $28,031 A Year
90 percent of Americans are poorer today than in 1987
The top headline belongs to another worthy piece from the Economic Collapse blog, which continues its grim stats by telling me that last year “39 percent of all American workers made less than $20,000.” If you work 40 hours a week at $10 per hour and get two weeks off per year, then you’re making $20,000 (gross pay), taking home maybe $1300-$1400 per month.
I am very glad to say that I am not poorer than I was in 1987, but that likely due to the fact that I was still in high school. RT reports that, based on a new National Bureau of Economic Research report, a Washington Post blog was the source of the second headline. on what Federal Reserve Board Chair Janet Yellen said a week ago at the Boston Economic Conference on Inequality of Economic Opportunity:
“The wealthiest five percent of American households held 54 percent of all wealth reported in the 1989 survey. Their share rose to 61 percent in 2010 and reached 63 percent in 2013…The extent and continuing increase in inequality in the United States greatly concern me. I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history, among them the high value Americans have traditionally placed on equality of opportunity.”
I know very little about Janet Yellen and I don’t know if she really means this or is just saying nice sounding words for show. And if she does mean them, can she do anything to counter it?
I might as well bring the Pope in here. Why? Well this week I’ve found myself, at blog’s launch, agreeing with Hillary Clinton (below) and now possibly the Fed Chair. But this Pope is different, really astoundingly so. I like this Pope and I’m not even Catholic. His words to remember?