Last month the government reported a much ballyhooed gain in median household income (MHI) of 5.2% in 2015. We thoroughly debunked that idea. Last week the BEA released data on personal income. It is more evidence that the household income data was just wrong. At the risk of carrying coals to Newcastle, I will briefly cover the new information, and what it portends for economic growth.
More Government Data Contradicts The Reported Strength of Household Income
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.