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Median wealth is down 20% since 1984, really


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2014 Jul 28, 10:49am   1,020 views  4 comments

by tovarichpeter   ➕follow (7)   ignore (3)  

http://www.cepr.net/index.php/blogs/beat-the-press/median-wealth-is-down-by-20-percent-since-1984

This is noteworthy because this cannot be explained as largely the result of the collapse of house prices that triggered the Great Recession. This indicates that we have gone thirty years, during which time output per worker has more than doubled, but real wealth has actually fallen for the typical family. It is also important to realize that the drop in wealth reported in the study understates the true drop since a typical household in 1984 would have been able to count on a defined benefit pension. This is not true at present, so the effective drop in wealth is...

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1   Ceffer   2014 Jul 28, 11:32am  

Well, if America is going towards a third world, Beirut-internecine, over populated dog pile, and the people are there to be slaves to the narrow oligarchy, than this makes sense.

After all, what oligarch wants a fat and sassy middle class.

What a proper oligarch wishes to see is a powerless, seething mass of wretches, an ocean of inferiority and diminished prospects, before his/her mighty gaze.

2   JH   2014 Jul 28, 11:57am  

tovarichpeter says

Median wealth is down 20% since 1984, really

And prime interest rate has dropped from 12% to 3.25% in that time. Just to ensure that the transfer of wealth CONTINUES.

4   AD   2025 Mar 20, 1:32pm  

Ceffer says


Well, if America is going towards a third world


Only way to compensate is to automate more as they already have kiosks at McDonalds and Walmart, as well as reduce staff but pay more per hour and require the management to work in the kitchen and the front counter. Other incentives are profit sharing and employee stock ownership plans through performance bonuses.


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