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Let's All Squeeze Together...



July 10, 2008 – Comments (4)

So, does a world group squeeze all make us feel better?

I linked a story about deflation of wages from Mish yesterday.  Today Naked Capitalism has a story about how workers in Japan have been squeezed to keep their competitiveness.

The article talks about how younger workers have been squeezed and the growing population of people who live in poverty.  What I did a double take on there was rioting in Japan, you know, get along with everyone, polite Japan.

The move from workers having jobs with benefits and pensions to jobs without reminds me very much about what has happened in Vancouver.  There has been a huge decline in jobs that offer benefits relative to workers. 

I don't know that that is a bad thing in itself, but the inequity between people is exactly the stuff that makes for riots.  Indeed, I know not having pension, or much pension, made me far more responsible managing my finances.

And on the closing paragraph about improving the social safety net, well, just where's the money supposed to come from?


4 Comments – Post Your Own

#1) On July 10, 2008 at 7:40 PM, mrpickles (30.49) wrote:

I thought you were calling a short sqeeeze :)

BTW methinks short sqeeze tomorrow as shorts cover into the weekend. 

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#2) On July 11, 2008 at 8:41 PM, lquadland10 (< 20) wrote:

Thanks for the group hug. Did you hear of the Japanese man who actually worked himself to death ( I think from Toyoda). I will get much worse out there. Buy gld etf.

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#3) On July 12, 2008 at 2:42 AM, blade5adj (< 20) wrote:

The counter argument would of course be that either wages/benefits get cut, or unemployment goes up.  Would you rather be making $7 a day or no dollars a day?  Just a thought, but I do agree that inequality causes instability (i.e. riots).

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#4) On July 15, 2008 at 9:30 PM, lquadland10 (< 20) wrote:

blade5ad (i.e. riots). then bushjr could call marshall law and cax elections

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