As The “Prosperity” Tide Recedes, The Ugly Reality Of Wealth Inequality Is Exposed

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

This chart of median household income illustrates why so many of us feel poorer– we are poorer in terms of the purchasing power of our income.

A rising tide raises all boats, from rowboats to yachts–this is the narrative of “prosperity.” A rising tide is also the political cover for rising inequality: if the guy in the rowboat makes $100 more a month, he feels like he’s participating in the prosperity.Meanwhile, the guy in the speedboat is making $1,000 more a month and the guy in the yacht is making […]