Friday, February 08, 2013

The Most Important Chart...

This chart depicts the result of class warfare, a war that only one side is fighting. 


Shortly after 2000, the lines diverged. The economy hummed along, but many Americans, the ones politicians typically refer to as the middle class, stopped feeling the benefits. There are many reasons for the change, and some of them are open to economic debate... Part of the shift can be attributed to increased income inequality owing to globalization and new technology — the wealthy becoming much wealthier, while the rest stayed the same. Part of it can be attributed to increased corporate profits, as new markets opened overseas and new technology lowered costs. Some of it has to do with how the figures are calculated. But the most important political takeaway of the chart is that at the turn of a new century, much of the U.S. stopped feeling the benefits of a growing national economy.

We have record corporate profits, record executive salaries, continued rise in per capita GDP and employee productivity. US companies are making more money than ever before, yet inflation-adjusted incomes have stagnated.

If you are reading this, chances are you have lost the class war.

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