I am at a point that it would not really matter to me if they stagnate because the fact is that they have been decreasing directly or indirectly through taxes, so let them stay the same, it wouldn't be that bad.
We are in the age of needing multiple streams of income. A job alone won't get it. You need income producing property, dividend paying stocks and bonds that give a good yield, or else hard times are ahead for you.
I used to say the same thing 20 years ago. If you are bragging about how much your job pays you per hour, you are wrong. The American dream was not built upon having a 9-5 job that pays X dollars per hour. The American Dream is about ownership and passive income.
Well obviously that's the case. You have to be a massive idiot to spend the entirety of every paycheck you get. The issue is that if wages stagnate and the cost of living goes up, that disposable income reduces and reduces. Eventually, the middle class become poor.
I do not know when the economy will get back to the way it was whenever it was booming. Honestly, I do not know if we will ever reach an age where that will happen. I read a quote that said that the United States is not getting better, it's simply just treading water.
The rich do get richer and the other struggle. When will this all change? When people stop buying stuff from rich folk and put their money to more useful purchases that will give them personal freedom rather than bragging rights. When people stop moaning about jobs going overseas before going out and buying foreign cars and tech goods. When people start to ask what they need to be happy rather than what do I want.
I totally agree. I read an article a while back that if a phone from apple was made exclusively in the US according to the legal wage then each phone would cost 10k dollars
I don't expect to see much change, especially if Hillary is elected as the next president. If the GOP can't come up with a Reagan-like presidential candidate, then don't expect much to change, especially if Bush is elected. Under Reagan, there was a huge explosion in jobs, people were getting their MBAs in droves and they had several job offers waiting for them after graduation. Millions of people started living much cushier lives. New and bigger homes, more vehicles, more kids going to college, etc. The first Bush and Clinton basked in the glow of what Reagan did and by the time the 2nd Bush rolled around the party was over, particularly after 9/11. It's really up to the American people to start paying attention to what is going on, who is running and start doing some research as to what makes this country great. "Income inequality" thinking will be our downfall.
I think low wage problem is faced by citizens of almost every country. The situation is the same in my country. Most people don't get paid well for the quality of work they serve. Sad thing is there's hardly any choice at all but to stay on a low paying job than to face the risk of unemployment.
The demand for talent is shifting. IT, e-commerce, and healthcare is the place to be. Quant jobs like data scientists and market research analysts that know code and database admin are needed. Digital marketers can't find enough qualified help. Engineers are still very much in demand. MFG is out the door. Simple IT is out the door. People with MBAs are competing for jobs that only needed a BA/BS twenty years ago.