As the Federal Reserve pumpity-pump-pump-pumps so the rich can get richer in the very stock market in which Democrats and the media ensured you and I wouldn’t be allowed to invest our Social Security, according to a study by Sentier Research, out here in the real world, wages took a major dive of 1.1% in just a single month.
According to the New York Times (who hid the bad news in a headline that reads, “Median Household Income Down 7.3% Since Start of Recession“), this is the first time in over a year a one-month drop in median annual income was statistically significant. Moreover, since the beginning of Obama’s “recovery,” median income has dropped a full six-percent.
Those of you who only get your news from the mainstream media might not know that during a real recovery wages are supposed to increase, not decrease.
Median annual household income in February 2013 was $51,404, about 1.1 percent (or $590) lower than the January 2013 level of $51,994. The numbers are all pretax, and are adjusted for both inflation and seasonal changes. …
While inflation is still quite low, income growth has been so weak that even very little inflation is enough to wipe out whatever gains households are seeing in their paychecks.
The longer-run trends are even more depressing.
Yes, “so depressing” that The New York Times hides the news in a headline that obscures the news.
Yesterday we learned that during the last quarter of last year our economy grew by only .04%.
Jobless claims rose Friday.
Out here in the real world, people are hurting. There are hardly any jobs, no growth, incomes are going backwards, and just driving by a gas station sign puts a dark cloud over your head.
The media, though, ignore all of this. Because Obama demands it, the media are instead on a permanent gays/guns/immigration culture war rotation.
Meanwhile, people suffer in this economy in part because Obama is feeling zero media or political pressure to fix it.
Follow John Nolte on Twitter @NolteNC
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