Median wage for men in their 30's: That’s a 12.5% drop over the last 30 years.

Economic “Boom” Proves False As Median US Wage Falls 12.5% | Posted by Bill Bonner on May 31st, 2007

You want to know something important, dear reader? Something that really matters? Well, read on…

We’ve been saying that the boom is a fraud. It is a speculative boom, not an economic boom. It lifts up asset prices and makes rich people think they are richer than ever. But it doesn’t increase real economic output - at least, not in the United States of America - or make average people any better off.

Of course, the leftists have been saying this for years. But who cares what they say. Even when they do spot a real problem, they invariably come up with a solution – more government meddling - that makes it worse.

Still, this is something they’re not wrong about.

An item from yesterday’s news:

According to data from the Pew Charitable Trust’s Economic Mobility project, a generation ago, American men in their 30s had median annual incomes of about US$40,000. Today, men of the same age, make about US$35,000 a year, adjusted for inflation. That’s a 12.5% drop over the last 30 years. ...