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The Great Compression

 
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jabailo



Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Wed Feb 04, 2009 7:20 pm    Post subject: The Great Compression Reply with quote

We are living in neither a Recession nor a Depression but a Compression.

The high end, high wage crowd are getting squeezed down and down as the stock market returns become a trickle.

The lower end continues to gain as price depreciation in housing and energy occurs.

Someday, you may walk into the supermarket and see Bill Gates and Warren Buffet buying a cheap latte at a local stand.
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jabailo



Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Tue Sep 07, 2010 12:40 pm    Post subject: Reply with quote

I find that this term was already coined, thanks to an article in Slate magazine. Here's the original coinage:

The Great Compression: The Wage Structure in the United States at Mid- Century
http://ideas.repec.org/p/nbr/nberwo/3817.html

Here's the Slate article:

The United States of Inequality
http://www.slate.com/id/2266025/entry/2266026/

My reply in the comments to his argument:

Quote:
Still, I think you need to extend your charts two more years. The crash in real estate and stocks has certainly "compressed" the ends quite a bit. More to the point, the chances for extreme gains has dwindled, being currently limited to the largesse handed out by the Obama Administration of ailing bankers and wall street execs.

So, I say, we're in a Compression.
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jabailo



Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Tue Sep 20, 2011 12:17 pm    Post subject: Reply with quote

Two Broke Girls, a new sitcom, is a fable for the Great Compression.

One waitress is the heiress of a discredited formerly wealthy father...she is now suffered to earn a living.

Her co-worker...a new friend...is up and coming, struggling to get higher.

They're in the same job...in the same restaurant.

That's where America is headed.

Review | 2 Broke Girls

http://www.usmagazine.com/moviestvmusic/news/review--2-broke-girls-2011139
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