Real wages for the average worker in US declined
In the last three decades real wages for the average worker declined in the last three decades. We were too enthralled by our orgy of fantasy finance. So much money gushed to the top of the income ladder that the wealthy literally ran out of real world investments. Deregulated Wall Street “financial engineers” solved this problem by creating new derivative financial products for people to invest in. Bubbles inflated everywhere. Tangible assets didn’t matter anymore, since it turned out we could make money from money, indefinitely and without any serious real world constraints. (Forgive me again for leading you to The Looting of America, which recounts this whole outrageous story.)
