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View Diary: The high cost of low prices: 87 dead (30 comments)

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  •  The cost of low prices is everywhere. (6+ / 0-)

    It's baked into the capitalist pie. I'd venture a  guess that most Americans never think about it, but low prices at Walmart, in the grocery store, at dollar stores -- wherever -- translate into lower wages here, job losses and outsourcing.

    That's just math.

    We think we're getting a great deal, but we're not. It bites us in the paycheck.

    Of course, it's a Catch-22 at this point. We need to lower prices because our wages have been especially suppressed since 1973. They're always suppressed, of course; that's how ownership makes its money. But since 1973, that suppression has hit record heights (or lows, depending upon how you look at it.)

    We've already added two people per family to the work roles. Then credit cards. Then second and third mortgages. There's nowhere left to go. If wages don't start going back up, there simply won't be a consumer base to keep the economy going -- even with those lower prices.

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