60 Years of American Economic History in 1 Graph

[eric]

[Ozzone]

The chart is a blanket representation of what happened and not enough information as to why.

In the last 20 years, we have seen a massive decline in manufacturing (outsourced to low wage countries like China, India, Phillipines, Mexico, etc.) and a massive increase in immigrants (mostly illegal) flooding in taking lower wages. Also automation (robotics) has increase 100x fold in 20 years.

It's easy to try and put all the blame on the 1%, but that's disingenuous.

[eric]

[Mr.Bill]

As David Stockman said in 2010:

In 1985, the top five percent of the households - the wealthiest five percent - had net worth of $8 trillion - which is a lot. Today, after serial bubble after serial bubble, the top five per cent have net worth of $40 trillion. The top five per cent have gained more wealth than the whole human race had created prior to 1980."


In other words in 25 years the Middle Class has stayed for the most part stagnant while the top 5% have gained $32 TRILLION in net worth.. That's with a T..

There's a problem..

[Stratego]

[The dane]

[foadi]

to be fair, most of the lower fifth are utterly retarded and deserve to live in much worse conditions than they have.

[eric]

[eric]

[Ozzone]