The Invisible Boom

In yesterday's New York Times, David Leonhardt wrote an article entitled, "For Many, a Boom that Wasn't. Here is the link to that article if you wish to read it:

In 2000, at the end of the previous economic expansion, the median American family made about $61,000, according to the Census Bureau’s inflation-adjusted numbers. In 2007, in what looks to have been the final year of the most recent expansion, the median family, amazingly, seems to have made less — about $60,500.

What's even scarier is that this is based on government inflation figures. These are severely understated. The dollar has lost 40% of its value in the last 6 years but you wouldn't be able to tell by looking at any government figures. Unfortunately, most Americans are even worse off than they would think.

We have wasted around $1 TRILLION in Iraq and financed this war via inflation. HEY WAR MONGERERS, IF YOU WANT BLOOD SO BAD THEN PUT YOUR MONEY WHERE YOUR MOUTH IS AND PAY FOR THE WAR YOURSELF. Of course the chickenhawks in this administration would never raise taxes on their billionaire corporate scumbags. Instead we all get to pay for the war with a depreciating greenback.