Economics News: Lies and Misstatement of Facts
The cynicism involved in writing statements like this makes my blood run cold. Writing daily reviews that avoid the hard truths, such as that productivity is simply another way of saying doing more work for the same amount of or less money. If this writer were told that he would need to do another week's worth of work, twice as many articles, for the same or less, you just know he'd feel pretty abused. But he can write as if it's a good thing. He's paid to do that.
Unwanted inflation, that's what made the average American worker so prosperous during the last decades. We can't have that sort of thing. We need Americans to pay top dollar for products while earning a third world salary, and shifting from good manufacturing jobs to the service industry.
The preceding is a lie. Rising living standards for owner/investors is the only one involved. The worker getting less for working more/harder does not make for 'rising living standards'.
Lies are such a way of life for the rightwing, it's almost gotten to be normalcy, no one notes it. On Friday's Newshour I was totally appalled to have David Brooks spout that there were more 'earmarks' on legislation in this, the 110th Congress, than there had been in the previous one. This would be convenient, and prove that Nancy Pelosi had lied in saying they would bring earmarks down - if it were true.
The earmarks have been decreased in the House by close to 50% and the amount of them is less than 50% of the previous congresses, although the process in the Senate is not yet complete.
The minority party appears to want to squeeze every drop out of its giant Cash Cow called America while it can. Hopefully the reaction to this will be its demise.
The productivity of American workers rebounded in the spring while wage pressures eased, favorable economic developments that analysts worried might prove only temporary.
The Labor Department reported Tuesday that worker efficiency rose at an annual rate of 1.8 percent in the April-June quarter, more than double the 0.7 percent pace of the first three months of the year.
Meanwhile, unit labor costs rose at a 2.1 percent rate, marking the second consecutive quarter that wage pressures have eased. While higher wages are good for workers, if wages rise too quickly they can spur unwanted inflation.
Unwanted inflation, that's what made the average American worker so prosperous during the last decades. We can't have that sort of thing. We need Americans to pay top dollar for products while earning a third world salary, and shifting from good manufacturing jobs to the service industry.
Productivity, the amount of output per hour of work, is the key ingredient for rising living standards. As long as productivity is rising at a solid rate, the increased output allows businesses to pay their workers more without having to boost the cost of their products, which increases inflation.
The preceding is a lie. Rising living standards for owner/investors is the only one involved. The worker getting less for working more/harder does not make for 'rising living standards'.
Lies are such a way of life for the rightwing, it's almost gotten to be normalcy, no one notes it. On Friday's Newshour I was totally appalled to have David Brooks spout that there were more 'earmarks' on legislation in this, the 110th Congress, than there had been in the previous one. This would be convenient, and prove that Nancy Pelosi had lied in saying they would bring earmarks down - if it were true.
The earmarks have been decreased in the House by close to 50% and the amount of them is less than 50% of the previous congresses, although the process in the Senate is not yet complete.
The minority party appears to want to squeeze every drop out of its giant Cash Cow called America while it can. Hopefully the reaction to this will be its demise.
Labels: Budget; Economy, Dirty Tricks
posted by Ruth at 11:27 AM
1 Comments:
Am I reading this right? In the same article in which they talk about how important it is that "wage pressures" have decreased (because higher wages would lead to inflation and that's bad), they're saying that increased productivity is good because it allows employers to pay their workers more?
In an ideal world, when workers are more productive, they would get paid more. In this world, which is far from ideal, when workers are more productive, they are not paid more, but their bosses are, even if, as if almost always the case, the bosses are not the least bit more productive.
The article pretends that this is an ideal world, at the same time it says that in this world we don't want to treat workers too well, because that would lead to inflation.
Post a Comment
<< Home