[lbo-talk] Number One Problem Economy in Europe

[Wojtek S]

[WS:] So basically less than 5% of their labor force makes shitty
wages (5 euro/hr.)  What is so sensational about it.  In the US, about
20% of households lives on $18k or less, which is basically comparable
to the earnings of 5 euro per hour that the article mentions.

Wojtek

On Tue, Aug 9, 2011 at 10:00 AM, Angelus Novus
<fuerdenkommunismus at yahoo.com> wrote:
>
> "Slothful school holidays are upon us, but it's never too late for a geography test. So let me begin: which country has the fastest-growing inequality and poverty of any developed economy, according to the heavyweight OECD thinktank?
>
> "Let me guess – you're thinking Broken Britain, or post-Dubya America. Wrong: it's in the euro. And – one final clue – workers here are paid some of the lowest wages in western Europe.
>
> Ah: Greece, Portugal or another of those eurozone basket cases in dire straits? Nope. Try: Germany."
>
> Full article: http://www.guardian.co.uk/commentisfree/2011/aug/08/number-one-problem-economy-europe
>
>
>
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