Since the recession started median household income is down 7.3 percent.
US households continue to face a declining standard of living. The first obvious item comes from falling incomes. Some of this is being masked by renewed access to debt as banks are once again lending money to over stretched consumers. Yet real wealth recovery this is not. The next major depressing factor for households is the reality that inflation is eating away purchasing power. When incomes are falling, even a moderate amount of inflation is very dangerous to your bottom-line. A new report came out highlighting that the median household income has fallen by 7.3 percent since the inflation started. This is a big deal. Especially when the cost of other items is now going back up (housing), is sky high (college tuition), and is potentially a cause for bankruptcy (medical care). Let us look at the income figures.
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