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News Link • Economy - Economics USA

The Revolution From Above

•, by Paul Craig Roberts

"Consumers simply cannot make ends meet. Inflation-adjusted, or real, median household income declined for the fourth-straight year, plunging to its lowest level since 1995. Deflated by the CPI-U, the 2011 reading actually stood below levels seen in the late-1960s and early-1970s."

"At the same time, despite the ongoing nature of the economic and systemic-solvency crises, and the effects of the 2008 financial panic, income dispersion − the movement of income away from the middle towards both high- and low-level extremes − has hit a record high, instead of moderating, as might be expected during periods of financial distress. Extremes in income dispersion usually foreshadow financial-market and economic calamities. With the current circumstance at a record extreme, and well above levels estimated to have prevailed before the 1929 stock-market crash and the Great Depression, increasingly difficult times are likely for the next several years."

This chart shows where the median household income of the US Superpower, the "indispensable people," stands at the culmination of 2011. Americans are as well off as they were in 1967-68. Most americans cannot pay for fighting multi-trillion dollar wars for 11 years, bailout trillions of dollars in uncovered casino bets by Wall Street, have their middle class jobs sent abroad by corporations, and still expect to have higher personal incomes. 

3 Comments in Response to

Comment by Ed Price
Entered on:

Just a thought. You can find a job that pays $10 per hour if you try. While $10-p-h isn't much, two people can live on it if they live frugally.

If 2 people had $10-p-h jobs, and they put the complete income of one of them into silver or gold, or some other reasonably sure investment, at the end of 5 years, they would have enough to purchase a $100,000 home for cash.

The price of houses is coming down because of the economic situation.

Comment by Anon Patriot
Entered on:

They are ENSLAVING us, with a perpetual debt that, mathematically, can NEVER BE RE-PAID!  A FRAUDULENT "debt", by the way.  We don't owe the Central Bankers ANYTHING!  They PRODUCE NOTHING !!!  Man, printing up money - saying it is "debt" owed back to you by EVERYONE ELSE, then printing up, and taking as much of it as possible to buy yourself REAL ESTATE, YACHTS, SPORTS CARS, FINE ART, GOVERNMENTS, etc. (at taxpayer expense!) is nice "work" - IF YOU CAN GET IT!

Comment by Anon Patriot
Entered on:

The really sad thing, about the "revolution from above" (ie, the war of attrition being waged on humanity by the TBTF Central Banks and Corporations, via the U.S. Con-gress), is that, once they've destroyed the Middle Class, and ruined the entire U.S. economy, by shipping some 12 million jobs overseas, and some 59,000 manufacturing firms overseas, and orchestrating the mortgage loan bubble (crisis) of 2007, which allowed them to give themselves a $27 Trillion Bailout, in 2008, again, via Con-gress rubber-stamping its approval - once there is no longer a PRODUCTIVE economy - the ONLY thing left for these jokers to do, on Wall St. and in the District of Criminals, is ENSLAVE AMERICANS, by putting them to work, for nothing, in FEMA camps or work-prisons.  How could it be otherwise?  They've already taken the $27 Trillion by siphoning it off the PRODUCTIVE economy in Con-gress approved Bailouts, which is still being augmented by stealth bailout (QE3), but, I'm sure another OVERT BAILOUT will be on their agenda, when it is finally announced that the global economy has crashed.  They are enslaving us with fraudulent "debt".  The entire system is a FRAUD.  It's a PONZI SCHEME.

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