Follow-up to Dick Morris column...

FT.com has a headline that reads: "US real wages fall at fastest rate in 14 years".

There are a number of interesting statistics in the article, but I think that the tremendous influx of cheap labor in the form of illegal aliens, as well as the exportation of our manufacturing plants to China are the two main causes of the sluggishness of wage growth.

How big of a raise can cashiers at Wal-Mart reasonably expect?

Remember the column from Dick Morris yesterday claiming CAFTA should go forward because US unemployment is at 5%? Well, perhaps this bolsters my claim that the buying power of Americans needs to be considered in addition to the number of us who are employed.