This has been the state of our financial markets over the past few years. Greed has seemingly blinded people to fundamental economic principles, and the transfer of more of this nation's wealth into the hands of fewer and fewer people is celebrated as capitalism's highest achievement.
The total net worth of American households climbed to $54.1 trillion last year, or more than $3 trillion higher than it was in 2005, and tax revenues managed to increase despite lower rates on wealthy Americans. Meanwhile, over the past five years, inflation-adjusted weekly wages for workers have been up about 0.5 percent per year.
Unfortunately, the people who have profited from wrecking the American economy will walk away with bulging pockets and seemingly clear consciences. The rest of us will be stuck with cleaning up when every comes tumbling down.
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