Many Americans (including myself) are frustrated about the lack of job creation. This shadows any accomplishments the Congress and the White House have achieved during their recent tenure: cutting taxes for 95 percent of families (http://www.nytimes.com/2010/10/19/us/politics/19taxes.html?scp=1&sq=obama%20tax%20cut&st=cse) and the advent of universal health care. Efforts to have universal health care dates back to the 1800's and here we have it! It isn't perfect, but it is a start. But who cares? Where are the jobs? I need to bring bread to the table, I have children to feed, my little girl needs new shoes, and the list goes on.
Perhaps on election day, we have the chance to oust those responsible. Who are they? The democrats, the republicans, the tea party (also part of the republican party)? One thing is for sure. Whoever wins, the rebuilding of our economy will not happen overnight. The current disaster took many years in the making. So should we elect republicans to congress and essentially cause a gridlock to passing future bills or should we give the president more time to fix the morass we are in?
Sunday, October 24, 2010
Saturday, October 23, 2010
Income Gap
American families are struggling to make ends meet. People have lost their jobs, homes, and their dreams. About 1 in 4 children are living in poverty. Newly college graduates are growing increasingly pessimistic they can ever have the salary job their parents enjoyed. Even during these troubling times, it is good to know that the wealthiest top percent, the creme de la creme have still seen their wages increase.
The three decades following world war II witnessed a wage increase of 3 percent for all income levels every year. America had a strong, vibrant middle class. Infrastructure was built, roads were maintained, and people were optimistic about their future.
However, during the last three decades The top 1% of earners have seen their wages increase by almost 24 percent after adjusting for inflation. While the average salary declined by 7 percent. Our economy is stagnant and our infrastructure is falling apart. Our living standards are worse than our parents, our grandparents.
How about the trickling down effect? Will the rich usually fund a dam that is about to collapse any moment or are they more likely to buy a bigger mansion than their friends? Or how about that charming villa in Tuscany? For instance, take Mark Hurd. The former HP CEO laid off 10% of HP's work force while imposing mandatory pay cuts across the board all the while HP was reaping record profits. Did he himself take a pay cut? I think not. The "trickling down effect" theory is really weak.
The three decades following world war II witnessed a wage increase of 3 percent for all income levels every year. America had a strong, vibrant middle class. Infrastructure was built, roads were maintained, and people were optimistic about their future.
However, during the last three decades The top 1% of earners have seen their wages increase by almost 24 percent after adjusting for inflation. While the average salary declined by 7 percent. Our economy is stagnant and our infrastructure is falling apart. Our living standards are worse than our parents, our grandparents.
How about the trickling down effect? Will the rich usually fund a dam that is about to collapse any moment or are they more likely to buy a bigger mansion than their friends? Or how about that charming villa in Tuscany? For instance, take Mark Hurd. The former HP CEO laid off 10% of HP's work force while imposing mandatory pay cuts across the board all the while HP was reaping record profits. Did he himself take a pay cut? I think not. The "trickling down effect" theory is really weak.
Saturday, October 16, 2010
Friday, October 15, 2010
Let us Vent
So, China has reached a monthly trade surplus of 16.9 billion dollars in September and US is in the hole. Congress is scratching their heads and shrugging their shoulders. Bank of America(Public, NYSE:BAC), JPMorgan Chase(NYSE:JPM), and other institutions who are the main culprits of the horse manure we find ourselves in were bailed out?!!! Point the finger, but let's face it. We're in this for the long haul. We cannot depend on the government, but let's at least feel solidarity in the fact that there are many of us in the same situation. About 10 percent of Americans are out of a job, yet jobs are still being shipped overseas. If you are like 15 million other Americans, you are searching for a job. The easiest way to find a job is to know somebody that knows somebody. Unfortunately, not all of us have this option. So here are ways to start. Let's tune up that cover letter and resume and hand it out to recruiters such as AppleOne, Kelly Services, Aerotek, and Monster. Sometimes calling them directly helps too. I have had some luck with Kelly Services and Aerotek.
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