Sunday, August 31, 2014

Economy

Keynesian admits economy is in a depression.
"US Household Net Worth 2007- 2013
Top 1%         Up       1.9%
Next 9 %       Up       3.4%
Next 15%      Down   0.5%
Next 25%      Down  16.7%
Bottom 50%  Down   44.2%
None of the economic statistics we get from the government are reliable. Inflation is understated. Economic growth is overstated. Unemployment is understated.  But this chart of net worth is about as reliable as we can expect to get."
Ouch.

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