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News Flash: You Are Poorer

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U.S. INCOMES PLUNGE TO 1989 LEVELS … 

|| By FITSNEWS || After posting a modest increase last year, median real household income in the United States – a.k.a. household income that’s adjusted for inflation – declined considerably in 2014.

This key metric of individual prosperity stood at $53,657 last year – down 1.5 percent from last year’s mark of $54,462.  It’s also off 7.2 percent from its 1999 peak of $57,843.

In fact according to our friends at Zero Hedge, the number hasn’t dipped this low since 1989.

Take a look …

(Click to enlarge)

real median income

(Via Zero Hedge)

The data was released as U.S. president Barack Obama attended a business roundtable in Washington, D.C.

“America’s winning right now,” Obama told the group.  “America’s great right now.”

Mmmm-kay.

Here’s the thing about this number: Unlike the unemployment rate or gross domestic product, it is impervious to spin.

No matter how aggressively the “doom and gloomers” (a.k.a. those of us here at FITS) try to warn of dark clouds on the horizon, or no matter how hard the “rainbows and unicorns” (a.k.a. the “everything is awesome”) crowd tries to push its “happy days are here again” nonsense … neither school of thought can ignore reality.

And the reality is this …

You. Are. Poorer.

So …

Party like it’s 1989.  Because according to your bottom line, it is.

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