Real Median household income peaked way back in 1999 at $56,000 and by 2012 it was down 9% — an unprecedented decline in American history.
It goes without saying that Washington’s Keynesian ministrations on the money printing and national debt front didn’t much help.
In fact, the Fed’s balance sheet has expanded:
- from $450 billion to $4.4 trillion during that period or
- by nearly 10X.
Likewise, the national debt has nearly quadrupled:
- to $17 trillion during the same period.