09 December 2014

US Middle Class Wealth Has Collapsed, Consumed by the Gods of Finance

"As flies to wanton boys are we to the gods.
They kill us for their sport."

William Shakespeare, King Lear

“Reality denied comes back to haunt.”

Philip K. Dick, Flow My Tears, the Policeman Said

Let's file this under 'why aren't people buying things and saving more?'

Yes I know that wealth is not income. That is a small consolation when you don't have much of either.

The Recovery™ is like Equal Justice™ these days of the Pax Americana and Pax Brittanica.

It is reserved for some, and keeps two sets of books.

Median Household Net Worth is back to what it was in the 1960's.

At least we had better music then.

So who are you going to vote for this time?  Bush, or Clinton?

And may the odds be ever in your favour.

The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.