Basically it already happened. Real per-capita net worth in the US is currently at 1999 levels.
Honestly I’m not sure what there is to discuss about this (though I’m sure folks will find something). This is a very shitty situation and it helps to explain why our economy remains mired in the doldrums.
OTOH, go Canada!
It wasn’t lost for the plutocrats. They won it very comprehensively, via mass upwards wealth transfer, thanks mostly to GWB.
Just give it more time to trickle down, Repo.
There’s something trickling down alright, but it’s not wealth.
Is it still trickle down if it’s a torrent?
The Yellow Revenue Stream, by I. P. Richly
And here I thought I was being vulgar when my first thought was, “Taste the Golden Spray.”
Alls I know is old people have socialized healthcare, and I gotta pay for it while my healthcare comes from CVS. You ask me, that sounds like yet another transfer of wealth especially as there ain’t no chance that Medicare is gonna be around for me.
I wonder when it’ll dawn that it’s really been like a lost 30 years. And we’re in for another bad decade at this rate.
As an anecdote, I’m beginning to see properties–in NJ of all places–which have essentially in real dollars returned to the price they were sold at when they were built in the 80s. I wouldn’t be surprised to see that around the country as well. Insane.
Nice.