Saturday, January 7, 2017

One Can Only Hope That Wages Will Continue To Grow...


...(even though the average is only ten cents) But there are still so many factors out there that make things precarious.

Will job growth continue? These new numbers make that doubtful.

Are there things in the rest of the world ready to stimulate uncertainty? Like, say, the very questionable health of the Chinese economy? Like, say, the very questionable general stability of Europe as a whole (especially now that Putin seems to have a friend about to take residence in the White House)?

There is, of course, the view that things, given human nature, will always be turbulent, and that is just the way it is. In that vein we're supposed to buckle down and accept austerity when needed, whether the top one percent are included in that or not. I like to look beyond that argument, however, and ask a more fundamental question: Why would anyone stay with an operating system so vulnerable to the winds of change? And let's face it, how could you have a system more susceptible to "uncertainty" than Capitalism? How could it be otherwise when "risk" is so intertwined with "uncertainty." How could it be otherwise when the top 1 percent not only hardly ever has to "buckle down" with austerity," but also makes risk avoidance a way of life?

Wage Growth Surged to a Seven-Year High in 2016