Why wages are lagging.

Editor,
I can think of a few sources of downward pressure on wages while GDP and corporate profits are growing impressively:

1. Offshore labor is dirt cheap.
2. Unions are weak (since Volcker).
3. Safety net spending is down (more Volckerism).
4. Illegal immigrant labor is dirt cheap.

Markets to support phenomenal growth exist in the developing economies, particularly in China and India.

Post-WWII Latin America provides the model, in every respect, for the future oligarchic police state banana republic into which the USA is being transformed.