Mr. Dow and Mr. Jones can't complain. Economist Jim Devine warns that our prosperity rests on the growth of debt that we can't sustain. Papa Bear represents the steep rise in consumer indebtedness. Mama Bear stands for the steep rise in U.S. external indebtedness. And Baby Bear depicts the increased indebtedness of non-financial corporations.
Workers borrow to make up for falling wages, which have just begun to rise.
Their lost ground has led to the wealthiest one percent of Americans own ing more wealth than the bottom 90 percent. Changing relations between employers and employees have fueled this wage inequality. For example, the Boeing Corporation wants to cut the life insurance and wages of technical workers. Sacramento County, Calif., has cut the health insurance and salaries of entry-level workers. Public and private employers also cut their employees' wages with unstable work.