BREAKING: 🇺🇸 American wages have fallen to 43% of national income, the lowest since the Great Depression.
For every $1 the US economy produces, workers are getting less of it than at any point since 1929.
The rest is going to corporate profits, which are now at an all time high.
This is why the economy keeps growing but most Americans feel poorer. GDP goes up, wages go up in dollar terms, but workers are getting a smaller and smaller slice of what they actually produce.
Asset prices keep rising for the same reason.
Money that used to go to wages is now going to shareholders instead, and shareholders put it into stocks, real estate and other assets.
Celtic are close to signing Bosnian midfielder Ermin Mahmic (21) for around £7m according to various sources. He plays his football for Slovan Liberec 🇨🇿
8 goals ⚽️
5 assist 🅰️
2 World Cup goals 🏆
My cousin has been saving for a house down payment for 5 years.
$600 a month. Every single month. No exceptions.
Skipped every vacation. Kept the same car past 130,000 miles. Cooked every meal at home.
Last month she hit $46,000.
Called me excited. Started scheduling tours.
Her realtor sent the numbers two days later.
Median home in her area: $480,000.
She needs $96,000 for 20% down to avoid PMI.
She’s $50,000 short.
After 5 years of doing everything right.
She asked me what she did wrong.
Nothing.
She’s 31. No kids. Stable job. 790 credit score.
And she’s still not enough for a system that keeps moving the target while she’s mid-sprint.