This is the perfect post for Fed day, where once again America’s Banana Republic central planning statists were too petrified to raise interest rates. The Fed has now missed the entire economic cycle without raising rates once. All you can do now is sit back, relax and wait for all hell to break loose.
Recently released data from the Census Bureau is nothing short of devastating to anyone who has been pushing the absurd meme of a strong U.S. economy.
There is simply no way one can look at this data and not conclude that the last seven years has been nothing more than an upward redistribution of wealth crafted by the Federal Reserve. As I’ve said many, many times before, central bankers should be tried for crimes against humanity for what they have done.
From Bloomberg:
U.S. Census Bureau data out Wednesday underscore just how lousy the recovery has been if you aren’t rich.
Looking at eight groups of household income selected by Census, only those whose incomes are already high to begin with have seen improvement since 2006, the last full year of expansion before the recession. Households at the 95th and 90th percentiles had larger earnings through 2014, the latest year for which data are available.
Want to see a chart of how bad this really is? Here you go:
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G
Follow me on Twitter.
