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    more exterminationist rhetoric..., 2006-08-27 20:23:34 | Main | Recently glenn reynolds compla..., 2006-08-28 14:13:27

    one for one:

    Average family income, adjusted for inflation, has continued to advance at a good clip, a fact Mr. Bush has cited when speaking about the economy. But these gains are a result mainly of increases at the top of the income spectrum that pull up the overall numbers. Even for workers at the 90th percentile of earners making about $80,000 a year inflation has outpaced their pay increases over the last three years, according to the Labor Department.

    "There are two economies out there," Mr. Cook, the political analyst, said. "One has been just white hot, going great guns. Those are the people who have benefited from globalization, technology, greater productivity and higher corporate earnings."

    As he says, there are "two economies", one for 1% that does benefit from globalization, and one for the remaining fraction that doesn't benefit from globalization.


:: posted by buermann @ 2006-08-28 13:23:59 CST | link





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