Originally posted by Rajk999if wages go down, standard of living goes down.
Wages go up and down all the time in response to a volatile economy. Its normal and natural.
What is going to bring wages back up this time? In previous times it was built up on the back of the manufacturing sector, then the high tech sector. Those 2 are gone. Those jobs are gone.
Tell us, what will bring wages back up now? Tell us what sector is poised to raise real wages for the average American?
If you are going to point to historical models, you need to explain how the historical model can be followed...not simply point to it and say, "look, the chart goes up and down so it must keep on going up and down!!"
It makes you look simplistic. Go deep.