US Incomes Drop More In Obama "Recovery" Than During the Great Recession
American incomes declined more in the three-year expansion that started in June 2009 than during the longest recession since the Great Depression, according an analysis of U.S. Census Bureau data by Sentier Research LLC.
Median household income fell 4.8 percent on an inflation- adjusted basis since the recession ended in June 2009, more than the 2.6 percent drop during the 18-month contraction, the research firm’s Gordon Green and John Coder wrote in a report today. Household income is 7.2 percent below the December 2007 level, the former Census Bureau economic statisticians wrote.
“Almost every group is worse off than it was three years ago, and some groups had very large declines in income,” Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview today. “We’re in an unprecedented period of economic stagnation.” _SFGate
This may be why more and more US children and adults aspire to become cronies and parasites, rather than doctors, engineers, and architects. More in the video below:
Children these days may be dumbed down, but they are not totally stupid. They understand that in an economy run by Obama and the Chicago mob, being a crony may be their best opportunity to succeed.
Crony Chronicles website growing in relevance
Can I be a croney too? I assume I'll have to resign from the Libertarian party and register as a Democrat?
ReplyDeleteIf you can find a way to get Obama re-elected, you can be the croniest crony of them all! Just don't let anyone else claim credit.
ReplyDeleteThis is actually why I'm more libertarian today in my late 40's than I was 25 years ago when I was into Ayn Rand.
ReplyDeleteI thought about the nature of all of the groups and institutions that I have dealt with or wanted to join (when I was a kid). It seems that any institution, private or public, exists for the benefit of the "inside crowd". Unless you are a part of this inside crowd, any membership in such organization and you are basically a sucker.
The kids are correct. This has always been the dynamic in high school (the "in" crowd of athletes and social crowd), the "Greek" system at university, and the larger adult world. It does not pay to identify with or be a member of any human institution unless you get to be one of the "insiders". Since I've never been allowed to be an "insider", I've decided I'm better off remaining on my own. The political philosophy that is most consistent with my life and objectives is libertarianism.
It is also worth noting that all large scale human institutions are bureaucracies, and that all bureaucracies are dysfunction (it is a law of nature, or human nature).
It is for the above two reason why I am far more libertarian today than I ever was during my Ayn Rand reading youth.
That is just an awesome video...am sharing! Thanks Al FIN!!
ReplyDelete