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Charting The Slow, 30-Year Death Of The US Middle Class In A Global Context
When it comes to the favorable aspects of capitalism, one thing is clear: with the largest concentration of millionaires and billionaires from around the globe, the US is second to none when it comes to letting the entrepreneurial spirit flourish and rewarding it (and letting the rich get even richer).
Unfortunately, when it comes to the malignant, "crony" aspects of capitalism, the US is also the world's undisputed leader.
Because while we have shown previously that over the past 30 years median incomes in the US have barely grown (indicative of a middle class whose income has been largely stagnant for some 35 years), we have never before shown just what how this middle class "stasis" looks like in comparison to other developed nations. Now, thanks to Max Roser and "Our world in Data", we know. Sadly, in this particular sample of median income growth since 1980, the US is dead last, behind such countries as the UK, Canada and even Spain and France!
Of course, the chart above does not mean that the entire US population have seen their wealth stuck at virtually the same level in the past 35 years. Only 90% of it. As for the remaining, top 1%, the past 35 years is precisely when the sky became the limit...
... and perhaps also why, as we wondered previously, there is nothing more hated by the very same 1% who have benefitted the most from the unbridled proliferation of credit money since the advent of the Greenspan regime, than the gold standard.
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Granny Hillary will fix it.
Interesting that a marker of when the Fed was instituted is not on these charts. Only bring that up when it's convenient.
Ah yes, equity without sweat. Faith without trust. Riding skittle shitting unicorns without payment.
Its a wonderful world...lol.
That may be the greatest unicorn ever.
Thanks Ronnie, I'm still waiting for the trickle down.
The median incomes aren't as horrible as the government mandated median outflows: tuition, insurance, medical, taxes, taxes, and more taxes.
The trickle down wealth effect is interesting.
Basically the wealth does trickle down, but by the time it reaches the base of the pyramid it has passed through so many hands that it has caused inflation and those last in the line get no real benefit.
Wow, someone gets it!!
RIP suckas
http://www.msn.com/en-us/news/us/california-proposes-historic-dollar15m-...
Bullish!
If someone dies in a california swimming pool, do you have to change the water out or just add more chlorine ???
Good question.
Current medical guidelines indicate it should be safe for the living to dive back in as long as the corpse is fresh, and without having had any "discharges" before, or after passing.
Of course the guidelines also recommend corpse removal, as soon as possible, to keep conditions safe...
m
Human bodies are about 60% water.
That's not a body; it's a gaggle of Baby Ruths.
Nah, just teach some hungry pigs to swim. Learned that one from 'Snatch.'
Hulk - You would be amazed at the surprising amount of carbon credits one receives from recycling a dead body out of a swimming pool in California.
Wake me up when it fines LA for stealing water from the Owens Valley.
That's how the money changers roll
The end of the gold standard and the end of middle class growth is all too revealing. It's nuts when you look at it.
The perfect 2 class communist society.
"If it happens it was meant to happen"
-ZWO demigod Henry Kissinger
If one were to go and look at the economic effects on the exploited within a colonized country, society, one would see similar effects in the American country The only difference being that the American country had more wealth to be exploited, plundered, in the first place.
Zion are the colonial exploiters, and the DC US government their colonial governors, of the American country and people.
Liberty is a demand. Tyranny is submission..
It is not that the producers of wealth are getting wealthy, but that the plunders of our wealth are.
de Rothschild Bank owes me $30 trillion in physical gold bullion @ 28 per cent interest per day on overdue accounts. If the USA MIC collects the debt for me I will pay half a trillion to NATO for the job.
Smedley Butler said you were racketeers, MIC, so how about it?
There it is again, death of the Gold standard.
My Ex. emailed me today asking for money for a cell phone and cell phone plan for our teenage Daughter; forgetting that she voluntarily gave up child support two years ago (don't feel sorry for Her, she got over $100K in the divorce plus alimony for 3 years - even though she is the one who was fucking around like an alley cat in heat).
Then she says "And when the time comes helping with her college tuition." Oh sure, won't be a problem with my 29 hour per week job, that and search the couch cushions for spare change- that'll take care of it.
The Ex. is completely delusional, but dreams die hard.
tell her to take up heavy drinking ---it worked for my x---
When I was 15 I worked for 13 days in a row for 12 hours per day at minimum wage just to buy an Italian racing 12 speed bike. Tell your teenaged daughter to get a job and pay for it herself. And tell your ex-wife
that just because she failed to learn self reliance does not mean that the same failure should be repeated for your daughter. In brief, tell your daughter to become entrepreneurial in her efforts to get a cell phone and pay for it monthly. It will be a good life lesson for her.
Hard work is little understood by the fucking lazy socialist gimmegimme cunts we have to endure daily... Always nice to see others that actually put effort into production instead of leeching off of it.
and now a message from the .001% https://youtu.be/sq1aU6rFcNQ
MOST AMERICAN WHITES ARE COMIN' AROUND TO THE REALIZATION THAT THE FACIST DEMOCRAT PARTY - BLACKS, HISPANICS, WHITE ELITISTS- WON'T BE SATISFIED UNTIL ALL REGULAR WHITE AMERICANS ARE IN OVENS.
You forgot the exclamation point.
I've been getting baked for years.
Pretty sure thats still the best way i've found to deal with this horseshit... Well that and horse.
Listen, if the cake's getting smaller and a burgeoning middle-class is necessary for growth how are the elites able to make REAL MONEY?
It's a global economy, where cheap labor, foreign ascendant classes, and export/import arbitrage make up for domestic short falls.
but alas --no sales-- oops
They've killed the goose that lays the golden eggs. I hope that 'poultry dinner' holds them, because there won't be any more eggs coming.
Everything changed in the mid seventies--just like in the early 40s and in the late teens---about a 35 yr stretch-- curiouser and curiouser--then again in the early 2000s and I bet it'll happen again in 2035 or there abouts -----Its almost a pattern or something ----
Not if an ended Fed ends up being one of the good consequences for a broken economy they made far, far worse...
m
Nena- 99luft Balons
http://www.youtube.com/watch?v=jQYQTFudrqc (4:06)
I have trouble believing even the 10% or so shown for the US. This is median, which is about $50k for a household today across the US, but probably well over $60k in urban areas. But a lot of higher incomes that used to be 3x or 5x the median, are now just 2x or 3x the median - median is not affected by such compressions, even though they are dramatic.
If you peel off the top 1% and compute the mean for the 99% you'd see the effects I describe.
What we have here is what I call Excess Scoring in the fact that Secret Scores are created and of course sold about all of us but nobody is hit bigger than the middle class and last I looked I think I'm at the bottom end of.
How can you do anything when you have all these secret scores that are sold about you? It denies access as you are not deemed worthy. Sure I know we need some qualifiers and scoring but this is over the top and the personal data selling business makes $180 billion a year, give me a break. We need to index and license these folks so we know who they are instead of them secretly denying us access to something around every corner. Here's the report by the World Privacy Forum on this topic and she did her homework. It's the "scoring" that is driving the downing of the middle class and lower class for that matter too, you can't escape the digital caste system.
http://ducknetweb.blogspot.com/2014/04/world-privacy-forum-report-scoring-of.html
I call it the Attack of the Killer Algorithms and you can search that if you like as I have a page of videos from folks smarter than me there. This is where the problem is with not even giving a person a chance and score them right out of opportunities.
America wasn't infected by accident.
America died because the people living in America became weak.
Nevermind for a moment why, or how.
They did.
Killing America though actually is pretty impressive (on a long enough timeline).
Good luck motherfuckers.
Hope you enjoy the 'victory'
-:)
What we are looking at is preparation for the seizure of most or all property belonging to Americans – middle-class or otherwise; for the benefit of communist China.
This is a very easy conclusion after examining publications by the federal government and Federal Reserve.
These publications are loaded with data that could be downright alarming: street gangs and drug cartels, the government’s – and China’s – role in arming, protecting and forming alliances with such gangs and cartels… and a dozen or so other items. They all point to a conclusion that a vast operation is being perpetrated… My findings raise the question, ‘What financial shock do Judeo-Bolsheviks plan... along with their lackeys, the Red Chinese?’ Do they plan to inflate the dollar to zero… push stocks to PE ratios of 300, then slam them to a ratio of single digits or even minus numbers… repudiate the federal debt… replace Federal Reserve bank notes with Treasury bank notes…?’
And, how do China’s ghost cities fit into this unprecedented operation?
And, when will they pull the plug?
Don’t believe me? Let me walk you thru their maze, Part one and Part two.
These graphs correlate with 2 presidents, first Reagan's war on labour then Clinton setting the banks free to plunder.
Why doesn't Cramer, or some other racket character, show this to every corporate CEO they interview, claiming dividend or stock price growth, and ask how could any of their growth be legitimate in the face of these numbers?
If they're not relying on what used to be 70% of our economy (middle class consumer spending), then how could their growth be valid?
Don't let them off the hook; hold them to answer.
Only one or two interviews would be necessary, if they were fully grilled, to blow the whole goddamned thing up.
Who should care if they didn't like the interview; do it anyway.
m
Jim Cramer is a fucking crackhead. He openly praised (who he thought were) the "illuminati" on his own damn tv show.
“There it is again, death of the gold standard.”
So says, “ebworhen” at 20:01.
It is sort of strange, the Main Stream Mafia declaring the end of gold… while every central bank (and many government treasuries) on the planet lists gold on its asset statement and as the most secure asset.
For insiders, the gold standard is alive and well; for everyone else, dead.
And, why is this so? It is because non-insiders do not use gold as a currency, even tho they have the power, but not the knowledge.
If you want the gold standard, we have to establish it for our purposes… no one else has an interest in doing so. How?
"...every central bank...on the planet lists gold on its asset statement and as the most secure asset."
The golden rule. Thems that HAS the gold makes the rules. Every central banker knows that they can run the presses only so fast, and without at least a TOKEN amount of something real in the kitty, their confidence game (which pays them quite well, btw) is over.
Nothing like a good stealth fleecing, followed by propgaganda that our prosperity was an "anomaly caused by WWII".
Middle class has been eradicated programaticaly as a matter of policy of US government run by oligarchic class. Economy had nothing to do with it only policies directed toward annihilation of american society under thinly disguised propaganda ploy called globalization and progress.
We have been distracted with free love, gadgetry and ostentatious gluttony preached in temples of illusory capitalism and lost ourselves in orgasmic outbursts of faux patriotism, and misguided faith in new Gods of Wall Street.
Brief and interesting take on fate of middle class and working class since end of WWII in context of diversity I found at:
https://sostratusworks.wordpress.com/2015/01/31/diversity-of-one/
If you think this has nothing to do woth econ... Take an introductory course. Hell, even just learn supply and demand.
Be interesting to add debt lines for all of the above nations too,