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Friday, June 6, 2014

YOU ARE GOING TO WIND UP WORKING IN A GAS STATION. CAPITALISM IS DYING, AMERICANS.


As I show in Prices Have Been Falling For Years! Inflation? Major Deflation Has Been Underway Since 2007. So Why Does Life Seem Harder? The Answers Are Coming Neo, a wage is a price. As all true prices have been falling under the worst deflation in American history after the biggest inflation in American history, the Greenspan-Bernanke Credit Bubble, true wages shall fall along with everything else.

This table shows average true wage for all jobs within an occupation category since 2000 after removing the effects of bankers' inflation. 



The jokers are the Bureau of Labor Stats couldn't be bothered to collect all the data needed for all occupations in the years 2012 and 2013. So that is why you shall see gaps.


Thus the net change for those years stops at 2011. For the rest, the net change runs from 2000 to 2013.

The chart shows true wage over the true minimum wage, again expressed in True Dollars™.



Notice how relatively steady the  multiples are.

Likely, this is the most important chart ever you shall see published regarding economy.



The chart says that true wages, or "real" wages if said by economists have been falling for years in lockstep because capital spending per prime age worker, those between 25 and 54, has been falling.


Contrary to what many believe, wages rise when capital rises. Wages are a consequence of producing wealth under efficiency. The more wealth produced and gained by each worker, the higher wages would rise. 

Yet, court jesters like Thomas Piketty claim that wealth leading to capital is bad. Court jester Piketty is little more than Revivalist Preacher Of Born-Again Socialism.