Quote:
Originally Posted by Jesus H Christ
Because back then your grandfather remembered what it was like living in/through the depression. Remember, when WWII broke out 30% of the recruits who tried to join the military were declined due to malnutrition symptoms/issues. In short, every dime spent was almost always on the bare necessities or applied to generating more income, ie., investment.
Second, when you employed someone (back then) you weren't nailed with high medical/dental, employment tax, sick days/vacation, demanded production profit sharing etc costs. So now that $10 an hr job is actually an $18 an hour job for the employer so an employee can use their vital skills to point to a product in a aisle or ask what CC are you going to use to pay your cable bill.
I don't think that's by choice? 60% of Americans live in rural areas and why Wall-Mart is so popular. They simply drove out their competition and usually the only game in town. I actually don't like shopping there because I want to support my local businesses, but for ammo and fishing product prices? - hard to beat man.
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Actually the 50's on you had vacations, time off and benefits were coming in. I remember in the sixties my dad had all of that and since he worked for a bank ,he got low low interest mortgages. No the big difference was a CEO was happy making 50x the avg worker not 500x.
My Dad told me about the recession in the 70's not one person was laid off, salaries were frozen but no one was getting fired. It was considered a loss of face for a CEO to lay people off. They would have anniversary pins and you had people there up to 50 yrs. Back then they were people not human capital.