Today’s crony economy is killing the middle class

Of 2 minds cc

The only people who have seen their real incomes increase under this president have been the top 5% of earners. Those with large investment portfolios have seen their assets grow – or perhaps more accurately, have watched them inflate –  while most of America has seen its income reduced over the last 5 years. Adjusted for inflation the average household in America makes less than 2008. Quite a bit less.

Crony capitalism has much to do with this. Those who have connections in government game the system for their benefit reaping rewards from the unwashed and often unknowing cubical serfs who populate the American landscape. (Or at least used to.)

(From Real Clear Markets)

Never has it been so good to be invested in a vastly expanding federal government — either to distribute or receive federal subsidies. Never has it been so lucrative to work in banking or on Wall Street. And never has it been so bad to try to find a decent job making something real.

Click here for the article.