The Only Chart That The Majority Of Americans Should Care About

Tyler Durden's picture

Having recently showed the diverging "consumer comfort" between the haves and the have-nots, perhaps the following chart more than any other typifies the superficial society in the US today. The question is - what happened in 1999/2000 to break the "what's good for Wall Street is good for Main Street" meme?




(cough Greenspan cough)

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Cognitive Dissonance's picture

It seems the new normal started right around the year 2000. How appropriate.

<Welcome to the (money) machine.>

FoeHammer's picture

What did you dream? It's alright, we told you what to dream.


Superb track.

Shocker's picture

Sad and reflects whats going on with main street


remain calm's picture

Clearly not Obozo's fault. Look how well things have Changed for the better under his open and transparent leadership. Forwad.

hedgeless_horseman's picture



Right before the turn of the century, Americans started sending their capital to Wal*Mart, Wall Street, and The Great Wall.  The jobs followed the money.

Wal*Mart versus DJIA...



Shop "true" local.  Keep as much of your capital in your home town as possible, so that it has a chance to come back to you. 

Watch the Growth of Walmart and Sam's Club and the Death of Main Street

Wave Maker's picture

I've seen this many times now... the graph is designed in a misleading way, because the left axis does not start at zero as the right axis does.  If you re-drew the graph with scales both starting at zero, it would look much less sinister, and the thought of cause-and-effect would be much less obvious in appearance to the observer.

t0mmyBerg's picture

Whatever the merits of the graph, I think it is now irrefutable that the recent malaise has been due to the outsourcing of jobs to regions with lower wage regimes.  I say this as a balls to the walls ricardian free trader.  Now, it may be the case that we have merely not seen the upswing over the full cycle of people readjusting their lives to profit form the new setup, and that this may occur over the next 10-20 years.  Furthermore, it appears the ndir in labor has passed.  In China, wages are supposedly now rising.  This will ikely continue there for demographic reasons as their workforce shrinks relative to the whole.  I am not too confident though that our domestic population will be able to adjust to the new reality.  The quality of education continues to decrease.  And the government continues to make it very very exensinve to hire living people with all their rules about this and that.  You have to be very big to comply with all the shit they throw at you.  So bubbing businesspeople get it every which way.  And labor as well.

TruthInSunshine's picture

Speaking of the WALL, hh:

[Sound of many TV's coming on, all on different channels]

"The Bulls are already out there"
Pink: "Aaaaaaaaaaaaaaaaaaaaaaaarrrrrgh!"
"This Roman Meal bakery thought you'd like to know."

I don't need no arms around me
And I dont need no drugs to calm me.
I have seen the writing on the wall.
Don't think I need anything at all.
No! Don't think I'll need anything at all.
All in all it was all just bricks in the wall.
All in all you were all just bricks in the wall.

MachoMan's picture

the recent malaise has been due to the outsourcing of jobs to regions with lower wage regimes.

Cause and effect backwards...  offshoring is a symptom, not a disease... 

Keyser's picture

Well, we did have the repeal of Glass-Steagall in 1997 and the introduction of the Synthetic Derivatives to the markets in 1994. 

balolalo's picture

Why does Conan O'Brien come to my mind?  Haha.  In the year two thousand.....


bagehot99's picture

Mister Fucking Andrea Mitchell, no less.

GCT's picture

Jesse's Cafe video sums it up well.

They should all be jailed and the politicians with them.

SheepDog-One's picture

Started in earnest right around the same time tribesman bankster Silverstein took out massive insurance on his WTC, double insurance policy 'in case of terrorist attack', and pulled building 7 too.

It looks like money, but it's just company chits.

Radical Marijuana's picture

Indeed, Cognitive Dissonance!

The cross-over in that chart probably relates to the decision to go ahead with the 9/11/2001 false flag attack. That decision was the "break away civilization" deciding to break away, and go for broke. That decision leads to implementing democidal martial law in the USA.

Wall Street decided to mass murder Main Street.

<Welcome to the (money/MURDER) machine.>

pragmatic hobo's picture

"what happened in 1999/2000 to break the "what's good for Wall Street is good for Main Street" meme"

let me guess ... clinton repealed glass-steagal?

Randoom Thought's picture

... and the passing of the "Commodity Futures MODERNIZATION Act of 2000"

NoDebt's picture

Bingo, RT.  You got to it before I did.

Urban Redneck's picture

Not quite- there was a financial crisis in 1998 where TBTF was born and bailed out (by ChairSatan Sr) and in 1999 they were back to paying themselves big bonuses courtesy of .fed handouts at the expense of the mainstreet... CFMA would be 2000/2001 not 1999/2000, and the sweeps swaps and integrations that were the eventual result of repealling G/S weren't fully integrated by 1999/2000 since bankers were focused on Y2K and the europonzi rollout.

NoDebt's picture

True, but close enough for government work.

mccoyspace's picture

Long Term Capital Mangement bailout?

Urban Redneck's picture

Algos, Derivatives, Leverage, Bad Loans, Systemic Risk... Rinse, Repeat. Only the names change (and some of them didn't even change when they were back at the same crisis meeting a decade later). Crappy Myron Scholes pseudo-math even underpinned both both LTCM's models and the BS derivative pricing models peddled by Blackrock for the next go round...

dick cheneys ghost's picture

boy, Clinton really sold his soul signing Glass Steagal & CFMA.........good work Monica/wall st/MIC

11b40's picture

Yes, but a lot more happened, and to overlook the arrival of the Bush/Cheney reign of terror is to place head in sand.  That administration laid the did the heavy lifting for most of what is wrong now.  Obama has only made it all worse.  The puppet strings were firmly attached to the fingers of Wall St. & the MIC to the President and the Congress during the Bush administration.  The Supreme Court finally got stacked with "conservatives", who decided that corporations were people and campaign bribes were not only leagl, they should be un-fucking-limited.  Regardless, Obama would have faced a virtually impossible task, but the S.O.B. has done nothing to go after the base problem, as evidenced by his pathetic Deaprtment of Justice, love of secrecy and spying on americans, and his war-mongering.

Bye-bye Constitiutionmal Republic.  Bye-bye Main Street.  Bye-bye rising standards of living for avberage Americans.  Bye-bye tax base......Hello Corruption, Greed Hubris, Wars of Choice, et al, on a scale unseen in American History.  

We have been flushed, boye & girls.  The only question is how long we circle the bowl before we hit the sewer.

Jumbotron's picture

Speak the truth brother.

starfcker's picture

i think clinton signing nafta was the turning point. that was the moment we stopped having two political parties with different interests. in my tiny brain there are three political stripes, liberal, 'republican', and conservative. bush1 moved the r's back into the 'republican' camp, no big surprise there. the real killer of course, was clinton's third way, using the poor to funnel tax money to the multinationals. as soon as the dims became 'republicans', the yin and yang of the two party system failed, and the walmarting of america began. two more 'republican' presidents later and here we are. a word on holder, his career has been that of a fixer, one of the best in the business. he just happens to be in a job where we could use a cutthroat prosecutor about now.

onewayticket2's picture

Monica got a higher paying job (thanks to vernon) than most of us.....

Jumbotron's picture

And a souvenir stained dress.

kaiserhoff's picture

I thought of that too.  It's an obvious data point, but the whole internet bubble simply masked some problems for a while.

In no particular order:

NAFTA and the death of wages.

The stampede of capital into real estate, crowding out sane spending.

The cancerous growth/explosion of government, and all things subsidized by the Tyrant Class.

  Great piece, and something that deserves serious thought and development.

CrashisOptimistic's picture


The price of oil in 1999 was $16.56/barrel.  In 2000, $27.39.  This had nothing to do with any US CFMA because it's global.  It was, rather, the precise year the North Sea's oil production peaked and began to fall.  A dip in price then for the 2001 recession (though never again under $22) and onwards and upwards, all long before QE ever entered the lexicon.

Guys, stop overanalyzing.  Oil is responsible for the American way of life, and all aspects of it.

onewayticket2's picture

and obama wants oil to be punished with fees, restricted with regulations....hmnn.



the perfectly timed BP oil spill

11b40's picture

But this happen??!!?

WE elcted a pair of "oil men" to run the country in 2000, didn't we?  You mean they screwed that up, too?

CrashisOptimistic's picture


1) They didn't take office until 2001.

2) Geology doesn't care about politics.

11b40's picture

That's right, they did take office in January of 2001.  Then, in Feb 2001, they started to have secret White House meetings with energy companies.

The ME has been on fire since then.

We are having an enrgy boom in the USA, so why aren't our enrgy prices dropping?

Energy prices increased for everybody.  Why was the 3rd world allowed to eat our lunch?

Totentänzerlied's picture

Signed in just to upvote this.

The clown brigade above just does not want to see it. Wish I could post a chart of US and worldwide per-capita energy consumption. They're still trying to blame the left (and the Fed) for putting a floor on prices, or the oil majors for putting a ceiling on production, or the brown people for living on top of OUR oil, the BRICS for daring to compete (on either side) in the global energy market, etc. Peak denial, hubris, megalomania, delusion - the rulers of empires have no monopoly on any of these things. Glad someone around here recognizes that any "solution" that still depends on everyone combusting lots of hydrocarbons all the time, is not a solution.

MachoMan's picture

This is how these monetary games always end...  the real producers of things tell the prospective buyers to take a hike with the funny money.

prains's picture

the trickle everyone was supposed to feel running down there back, started to smell?

Dr. Engali's picture

What happened? The Gramm, Leach, Bliley act, Nafta, the acceleration of consumer credit combined with the out sourcing of jobs is what happened.

CrashisOptimistic's picture


Oil is what happened.  See a few comments up.

bigdumbnugly's picture

you should really have that ugly cough looked at.

it could be terminal.

Al Huxley's picture

Wall Street abandoned all pretense of being anything other than a bunch of self-serving, sociopathic criminals, bent on cheating the system, privatizing their gains, socializing their losses, and began the final process of removing any and all regulatory fetters that would prevent indiscriminate rape and pillage of the American and global economy for their private benefit?

NoDebt's picture

No need for the question mark on the end.  Works perfectly fine as a statement.

Widowmaker's picture

George W Bush happened.   (Yeah yeah, all Bush's fault).

Truth hurts, and Fraud Street liquidated Main Street for the clueless -- it's accelerating.

Mission Accomplished Fuckers, Crime Inc owns you, and "No one saw it coming!!"

Law97's picture

The same thing would have happened under a Gore and/or Kerry administration.  Total government capture of both parties by Wall Street.

11b40's picture

That, my friend is pure conjecture.

Would we have gone to Iraq on a fool-hearty mission?  Would 9/11 even have happened?  So much of our misery was caused by the neo-cons, who had no place in the Clinton/Gore admin.

Would the bankers have been catered to the same way?

Would the Supreme Court have been stacked the way it was?  

It is simply amazing to me the number of people who still refuse to see what was behind our country's decline.  It started in ernest with Bush/Cheney.  Just look at the above graph.


detached.amusement's picture

You'll probably be hard pressed to find someone who doesnt agree they made it worse in a few regards, but laying to blame right there is missing out on 87 years of other reasons.

CrashisOptimistic's picture

Bush did not become president until 2001. 

The North Sea, however, peaked and began its oil output decline in 2000.

Look there for the cause.  Oil was $16/barrel in 1999.  $27 in 2000.

dick cheneys ghost's picture

or otherwise..........the slow death of the dollar as a debt based, fiat currency?