UNITED STATES OF CHICAGO: MIDDLE CLASS NET-WORTH COLLAPSES TO 1969 LEVELS

[Geee]

Breitbart:

The angle of a just-released New York University study is, of course, that ole' left-wing canard known as "income inequality," but the findings are still useful in drawing other conclusions, and not ones that are very pleasant. Is America now a bigger version of Chicago, where Democrats and the media have so expertly rigged the electoral game that even as their policies fail they're able to stay in power?

According to the study, we are now back to 1969 levels with respect to median net worth in this country. A large part of this is the housing crisis we've yet to recover from, which cost the middle class 18% of its net worth. The news isn't much better with respect to median incomes which have dropped to $26,364, setting us all the way back to 1999.

And as middle class incomes declined the debt-load among the middle class has increased "significantly."

In a nutshell: those of us in the middle class earn less, are worth less, and owe more. Meanwhile, during this same period of time, the wealthy increased their wealth by an unbelievable 71%.

Normally, I don't care about the gap between the rich and the rest of us. I'm not rich, and at the age of 46, it's probably safe to say I'll never be rich; but I didn't care because I begrudge no one their success. But that was before…

Before we looted the Treasury and mortgaged the futures of generations to bail out the Too Big To Fails; before we started losing ground while the Bailed Out prospered.