Tag Archives: economics
This is a must-listen!! http://www.corbettreport.com/mp3/2012-09-21%20David%20Smith.mp3
QE is evidence that we are in the midst of a collapse. QE will not help the job market nor the average Joe, but only props up a failing system for a bit longer but increases the possibility of total global financial collapse.
From the article:
“Overall median household income dropped while the divide between the rich and poor widened in 2011, according to a report from the U.S. Census Bureau.
The share of aggregate income for the country’s highest earners increased 1.6 percent, according to the report. Five percent of those in the highest bracket increased their share by 4.9 percent.
Those in the lowest quantile saw their share drop 1.2 percent, while the middle decreased by 1.9 percent.
The official poverty rate in the U.S. was 15 percent in 2011, with 46.2 million people struggling, according to the Census data.
Median income for all households in the U.S. fell 1.5 percent to $50,054.
“The gains from economic growth in 2011 were quite unevenly shared as household income fell in the middle and rose at the top,” Robert Greenstein, president of the Center on Budget and Policy Priorities in Washington, told Bloomberg.”