Oh yeah. One look at this chart might explain it. And this is using the bullshit CPI propaganda number put out by the government. Real wage growth is NEGATIVE 10%.
They should hand out tee-shirts that say:
THE KEYNESIANS SPENT $10 TRILLION OF MY MONEY & ALL I GOT WAS THIS SHITTY ECONOMY & A CHINESE MADE T-SHIRT
Households in the top 20 percent of U.S. socioeconomic groups saw their incomes grow by an average of $8,358 a year from 2008 to 2012, compared with a $275 annual decline for the lowest 20 percent, according to data from the Bureau of Labor Statistics.
For fuck sake, the bottom 20% are just barely able to lift a fork to their mouths. Just what are they capable of to make them a valuable economic resource?
“Worries about the future can actually cause asset markets to be priced highly … When the Titanic was going down, people would pay a fortune for anything that floats. I’m exaggerating, of course, but that might be the situation we’re in now.”
Robert Shiller