70% of Americans made less real wages in 2012 than 1979

Not only are 70% of Americans earning less real wages, but they are more indebted, so spending power is much less than in 1979. This is why demand is weak. And no Central Banks can’t fix that. To the contrary, their lax monetary policies aimed at stimulating increasingly suicidal levels of debt and levered spending over the past 30 years have been a major cause of present financial weakness. The more they try to do, the worse these trends become. Here is a direct video link.

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