investmentwatch

For working people the economy has been in recession since 1973

1. Before 1973, The inflation Adjusted Median Income rose at 2.5% per year:

1953 = $22,648
1973 = $34,762

2. From 1973 to 2009, Inflation Adjusted Median Income fell by $2,578.

1973 = $34,762
2009 = $32,184

3. While per capita GPD has doubled:

1969 = $21,021
2010 = $42,517

4. This is accomplish by shifting the income distributi­on:

Share Of Aggregate Income by Quintile:

BOTTOM 20% – 1967: 4.0% 2009: 3.4% Change: -0.6%
LOWER MIDDLE – 1967: 10.8% 2009: 8.6% Change: -2.2%
MIDDLE CLASS – 1967: 17.3% 2009: 14.6% Change: -2.7%
UPPER MIDDLE – 1967: 24.2% 2009: 23.2% Change: -1.0%
UPPER CLASS – 1967: 43.6% 2009: 50.3% Change: +6.7%


The last 40 years of conservati­ve think tank legislatio­n has killed the economy

The GOP and the rich corporatists have made a mess of everything­.

1. Before 1973, The inflation Adjusted Median Income rose at 2.5% per year:

1953 = $22,648
1973 = $34,762

2. From 1973 to 2009, Inflation Adjusted Median Income fell by $2,578.

1973 = $34,762
2009 = $32,184

3. The same thing shows up in Weekly Earnings.

All earners:

1979 = $339
2008 = $339

No Change over 30 years

Men:

1979 = $412
2010 = $389