Re: Re: Re: re: Welfare can't be abolished until unemployment is abolished

[Jim Devine <jdevine@xxxxxxxxxxxxxxx>]

Doug wrote:
> The bourgeoisie are experiencing a recession too - profits are way off,
> and the stock market is in the tank. Investment banks are laying people
> off by the thousands.

yup, but it's not official yet. And the optimists are still predicting that
recovery is just around the corner.

> By the way, real wage growth has actually picked up for U.S. workers -
> it's approaching 2% year-on-year in private services. Service prices are
> rising more slowly than wages, putting a squeeze on profits.

real wages also increase when low-wage workers are the first to be fired.

Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine