4 Lost Decades
One of the endearing features of the ruling classes is their abiding faith in their own judgment
- Despite inexhaustible evidence that they are bumbling incompetents,
- the power elite stick to their guns - literally - and to their cushy sinecures.
- We are now 7 years into the “recovery” supposedly engineered by the Ph.D.s at the Fed.
- At a cost variously estimated between $4 trillion and $10 trillion,
- we have now achieved a growth rate that is about 50% what it was 40 years ago
- before the internet and debt-based money allegedly freed the economy from earthly tethers.
- And thanks to these custodians of the public wealth,
- 99% of the families in the USA now have less wealth than they did before the crisis of ’08 began.
- But wait... it gets worse.
It is now 45 years since the "PhDs" took control of America’s money
- Over those four and a half decades, how much financial progress do you think the average family has made?
- Approximately 0
- Yes, the Levy Institute has completed a study.
- It tells us what we suspected already.
- 9 out of 10 people in the U.S. have roughly the same real earnings today as they did in the early ’70s.
- That makes 4 LOST DECADES, thanks to the feds,
- with no advance in the material well-being of the American people (aside from technological marvels)
- since the new money system came on the scene.
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