What The Jobs Report DOESN’T Tell Us About The Future Of The US Economy
by Gary Reber
Sadly, the median household income is just over $49,000, while the annual median wage fell to just over $26,000, the lowest level since 1999. Unemployment is high and there is an accelerating displacement of labor workers by technology and cheaper foreign labor, resulting in greater economic uncertainty and unstable retirement incomes for the average American citizen––causing the average citizen to become increasingly dependent on government wealth redistribution programs. This is a downward trend that will not reverse itself because the productive sector exponentially advances job-displacing technology-based productive capital expansion. whose ownership is further concentrated among the rich minority.
We need to innovate in such ways that we lower the barriers to equal economic opportunity and create a level playing field based on anti-monopoly and anti-greed fairness and balance between production and consumption. The reform of the “system,” must be structured so that eventually all citizens produce an expanding proportion of their income through their privately owned productive capital and simultaneously generate consumer purchasing power.