Why Always So Gloomy?
"Since the turn of the century, in fact, real capex growth has averaged only 0.8% annually, or hardly one-third of its prior historical rate; and the true measure of future productivity growth – net investment in real plant and equipment after capital consumption allowances – has actually declined by 20% since 1999-2000."
- Hourly wages are no higher than they were in 2008...
- Real household income has declined – even for the top 5%...
- Take out health care and interest expenses, and almost everyone's real, disposable income has gone down...
- Though part-time and temporary employment has risen, there are 5% fewer real, or "breadwinner" jobs than there were in 2006!