{"id":12394,"date":"2015-09-18T07:07:29","date_gmt":"2015-09-18T12:07:29","guid":{"rendered":"http:\/\/olduvai.ca\/?p=12394"},"modified":"2015-09-18T07:07:29","modified_gmt":"2015-09-18T12:07:29","slug":"census-data-proves-it-there-was-no-economic-recovery-unless-you-were-already-rich","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=12394","title":{"rendered":"Census Data Proves It \u2013 There Was No Economic Recovery Unless You Were Already Rich"},"content":{"rendered":"
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Census Data Proves It \u2013 There Was No Economic Recovery Unless You Were Already Rich<\/a><\/h3>\n
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This is the perfect post for Fed day, where once again America\u2019s 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.<\/p>\n

Recently released data from the Census Bureau is nothing short of devastating to\u00a0anyone who has been pushing the absurd meme of a strong U.S. economy.<\/p>\n

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\u2019ve said many, many times before,\u00a0central bankers should be tried for crimes against humanity<\/strong>\u00a0for what they have done.<\/p>\n

From\u00a0Bloomberg<\/em><\/a>:<\/p>\n

U.S. Census Bureau data out Wednesday underscore just how lousy the recovery has been if you aren\u2019t rich.<\/em><\/strong><\/p>\n

Looking at eight groups\u00a0of household income selected by\u00a0Census<\/a>, only those whose incomes are already high\u00a0to begin with have seen improvement\u00a0since 2006, the last full year of expansion before the recession.\u00a0Households at the 95th and 90th percentiles had larger earnings through 2014, the latest year for which data are available.<\/strong><\/em><\/p><\/blockquote>\n

Want to see a chart of how bad this really is? Here you go:<\/p>\n

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Income for all others was below\u00a02006 levels, indicating they\u2019re still\u00a0clawing their way out of the hole caused by the deepest recession in the post-World War II era.<\/em><\/strong><\/p>\n

Median household income is 6.5 percent lower than in 2007, the year the recession started.<\/em><\/strong><\/p><\/blockquote>\n

So this is now what we call a \u201crecovery\u201d?<\/p>\n

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…click on the above link to read the rest of the article…<\/p>\n<\/div>\n

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Census Data Proves It \u2013 There Was No Economic Recovery Unless You Were Already Rich This is the perfect post for Fed day, where once again America\u2019s 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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,7982,303,305,1154,4285,6174],"class_list":["post-12394","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-economic-recovery","tag-fed","tag-federal-reserve","tag-interest-rate-policy","tag-liberty-blitzkrieg","tag-michael-krieger"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12394"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12394\/revisions"}],"predecessor-version":[{"id":12395,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12394\/revisions\/12395"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}