Thursday, July 25, 2013

Obama's Misery Index Approaches Carter Years

Yet the media continues to cheerlead like there'd no tomorrow.
In the past 30 years if you were in the top 1% economic class your inflation-adjusted incomes grew by 224%. The top 0.1% grew by 390%. In contrast, the bottom 90% struggled with only a 5% growth in incomes.
Whoop-tee-do! A 5% increase over 30 years is pathetic! According to the Credit Suisse's annual Global Wealth Data Book, America's middle class ranks 27th in the world. Are they serious? I thought the United States was the wealthiest country in the world. The U.S. misery index has reached its highest level since May, 1983. I remember the Carter years.

The only thing missing today is the 18% interest rates. So how can the index be so high in the Obama years without double-digit interest rates? For starters, I remember having a job back then. Today, a lot of us don't have jobs, 50% of the population receives government checks, the population is aging, and the dollar has plummeted in value.

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