Saturday, October 12, 2013

When Businessmen Are Your Founding Fathers...

… What do you expect?

Excerpts from Forbes,

Workers’ wages buy less and less. In fact, workers have lost purchasing power during the past half-century.

Today’s minimum wage employee works 12 percent longer to earn a gallon of milk compared to 1965, according to the Bureau of Labor Statistics. Today’s senior engineer works almost twice as long to buy a gallon of gasoline, according to the Department of Energy.

So, in real terms, wages have fallen. The drop is larger than it appears.

…milk used to be delivered to a home in a glass bottle. Today it comes in cheap plastic containers that consumers pick up at the store. A more recent example is wine, which is moving from expensive corks to cheaper screw tops.

By switching to gold, we can measure both wages and prices on an absolute scale—in ounces—and we can make precise comparisons.

The bottom line is that, in terms of gold, wages have fallen by about 87 percent.

…today’s highly skilled professional is making less in real, comparative terms than yesterday’s unskilled worker.

But measured in gold—and this is crucial to understanding why we need a gold standard—we see reality with clarity. Incomes are about one tenth what they were in the 60’s.
People who work for a living—those who produce every good and service—are being steadily and severely marginalized.

 The United States isn't a nation that is falling apart, because it's not a nation to begin with. It's a business that was created in the 1770's and 1780's by bankers and merchants.