Here are four more charts, to add to the already significant pile of negative economic news, that dispel the myth of a US economic recovery. If the US has been experiencing a recovery for the last few years I would sure hate to see a recession let alone a depression.
Real Median Household Income has not increased since 2000.
Student Debt has risen dramatically and now totals a ridiculous $1.2 trillion.
Child Poverty has risen, and in the United States a staggering one third of children live in households earning less than 60% of the median income. In many so called 'First World' countries this figure is above 20%, and even in Australia it is above 10%.
Home Ownership in the United States has been declining for the last 10 years.
The Americans believe that a poor lower class is essential for national prosperity. (Compared to them, Joe Hockey is Marxist terrorist.) They cultivate an impoverished class to drive the factories at low cost. The land of the free is part of the rhetoric to keep the poor from becoming socialists and the charity culture of the rich is how they salve their consciences for creating such misery
The last credit bubble saw all these people have the option to own a home (as their mortgages were laundered into assets to sell as AAA rated investments), so I would not read too much into that home ownership graph - the dates match.
I suggest that the student debt system is a similar structure designed to maintain an impoverished white collar work force to develop the biotech and software needed to keep US businesses ahead of the world. The legend of the entrepreneur is designed to keep this class in check because only a very few can be permitted to escape the debt trap.
So I challenge your analysis and claim the charts show business as usual in the USA.
Posted by: PythonMagus | Wednesday, 04 February 2015 at 11:42 AM