because wages are sticky downwardsI'm guessing that's probably econo-double speak for "working people get screwed by the very structure of capitalism," because if it meant that workers receive the value they create by their wage-slavery, they'd be making a big deal of it & not disguising it behind bullshit.
people who were in workas opposed to those who are "out work?"
Also, the rigorously researched:
As a friend, another journalist, just told me, "I am slightly concerned that everything, here and around the world, really may go to some serious [expletive deleted] this year".Megan, Megan, Megan. Put the period where it belongs!! Why do you hate America so that you write using British-style punctuation? We didn't have a Revolution so you could identify w/ our oppressors.
Apparently the last thing she learned was how to write, Limey-style. And then her brain froze, & she can't re-learn American ways. How very sad.
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"because wages are sticky downwards"
It means that people won't take pay cuts if they can avoid it. Megan, always with the insights!
Can't fool her for a minute, can you?
"As a friend, another journalist, just told me, 'I am slightly concerned that everything, here and around the world, really may go to some serious [expletive deleted] this year'."
What insight! A friend of Megan's, a fellow "journalist," is "slightly" concerned that we "may" go through some serious shit this year. Shouldn't this be true to all, regardless of whether you're a journalist or not? I'm not a journalist, but I'm more than "slightly" concerned that the world economy could tank faster and farther than it already has.
And what special insight do journalists have? Journalists are supposed to write about what already happened, not predict the future. That's for traders and analysts. And any idea why the journalist friend needs anonymity (just like Megan's "housemate")?
Anon - if Megan mentions other people by name, then it wouldn't be all about her anymore.
I was actually in business school for a while, and I took some economics courses. My father is an MBA. So I speak with a bit of authority when I say to Megan—
Econo-speak, ur doin' it wrong.
(I'm not going to claim to know more than her in the economics department, but I know enough to detect an attempt to fool people with no real training.)
"because wages are sticky downwards"
That's the assumption that people won't take pay cuts. So that 'forces' employers to send their jobs overseas.
I never heard that BS phrase before, but it makes sense.
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