…us workers sleepwalking…Posted: 2014-09-30
…backward to feudalism?…
One can only imagine the type of reaction in other countries should their citizens find themselves confronted with incontrovertible evidence of a steadily deteriorating existence they do live? In a nutshell, the bottom 90% of the US has been faring poorly, economic inequality has worsened, yet life goes on.
So what do we find in this small sampling of the economic condition of the 90% in the US?
Dave Gilson over at the mother jones blog pulls together data from several sources for a chart that shows the downward income trajectory of the US worker, Chart: You’re Working More But Earning Less
Matt Bruenig over at the demos blog guides his readers through two fairly self-explanatory charts on the direction of wealth of the bottom 90% of the US, Whites Have More Wealth Than Blacks And Hispanics With Similar Incomes
And for how the worker has fared as the economy recovers from each collapse, recession, great or not, Yves Smith over at her naked capitalism points us to a Justin Wolfers observation, “The Most Remarkable Chart I’ve Seen in Some Time”: Rich Gain More Ground in Every US Expansion
For the bottom 90% this time is clearly worse, but superb for the politically pampered 10%. When capriciously contrived enemies can be given immediate precedence or, worse, the wedding of some celebrity, something is clearly amiss in the US.