“Your Rogue Economist entered the labor force when he was 14. Thereafter, he was either in school or at work. He worked as an usher, a dishwasher, a carpenter’s helper, a mason, a painter, a truck driver, a teacher. It never took more than a day or two to find a job. Times have changed. Now, it’s much harder to get on the bottom rung. And according to the Financial Times, things aren’t much better for those on the economic ladder. If they are lucky enough to get a foothold… and eventually climb their way into the middle class… they will earn, on average, about as much as a middle-class wage earner a half a century ago! How’s that for something to look forward to?”
http://www.bonnerandpartners.com/what-do-bond-investors-know-that-stock-investors-dont/