Another day, another data point proving what anyone with two functioning braincells already knows.
That for most citizens, the U.S. economy is a neo-feudal Banana Republic oligarch hellhole. The facts are indisputable at this point, and the trend goes back decades when it comes to the American male. All the way back to 1973, in fact, just two years after the U.S. defaulted on gold and the economy started its grotesque transformation into a Wall Street controlled, financialized gulag.
Just yesterday, I highlighted some very depressing data from the Census in the post:
Census Data Proves It – There Was No Economic Recovery Unless You Were Already Rich
Now we learn the following, from the Wall Street Journal:
The typical man with a full-time job–the one at the statistical middle of the middle–earned $50,383 last year, the Census Bureau reported this week.
The typical man with a full-time job in 1973 earned $53,294, measured in 2014 dollars to adjust for inflation.