We Feel Poorer Because We Are Poorer

Asylum Watch

Today’s post complements yesterday’s post in which we talked about the faux recovery America has experienced since the so-called Great Recession of 2008. Monty Pelerin’s World has posted a graph and a chart that demonstrate clearly why most Americans are having a harder time making ends meet today than they were a decade or so ago. The following graph shows that most working
Americans have seen their nominal income increase over the last 14 years; but their real income after taxes and inflation has fallen by about 9% on average.

medianincome

A fortunate few have earned promotions every three or four years and as a result their quality of life has improved. Everyone else and especially those on fixed incomes have taken a serious beating.

The Federal Reserve has been telling the public for years that inflation is a non-issue. For the average American, this chart shows clearly just how big…

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