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View Diary: Private equity-owned Hostess blames striking workers as it liquidates (263 comments)

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  •  Wages vs Stock Growth (2+ / 0-)
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    JustinBinFL, PsychoSavannah

    Another thing that people miss in this is that a $1 per hour raise is an extra $2000 per year for a full time worker.

    If the market went up by 5% you would need a $40,000 stock portfolio to equal the $1.   The average portfolio of families that DO hold stock was $12000 in 2009.

    So, all things considered, most people should be far more concerned about their wages than about the value of the market.

    According to the Federal Reserve's most recent report, the median value of directly held stock in 2009, for families holding any, was approximately $12,000. This represented a decline of 36% from $18,500 reported in 2007 and was largely attributable to the stock market's free fall and the cyclical unemployment that forced households to raid their savings.

    Religion gives men the strength to do what should not be done.

    by bobtmn on Fri Nov 16, 2012 at 01:22:45 PM PST

    [ Parent ]

    •  Exactly. Workers gave up wages (0+ / 0-)

      for some mythical, magical pot of gold at the end of the retirement rainbow.  The con was thorough, and good.

      And, what so many people just don't, or won't see, is money stuck in a bank account somewhere is not in the economy working.  And waaaaay too much money is in Switzerland and on islands :-)

      David Koch is Longshanks, and Occupy is the real Braveheart.

      by PsychoSavannah on Fri Nov 16, 2012 at 04:07:46 PM PST

      [ Parent ]

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