Even preceding its plans to force the “greening” of the U.S. financial system and therefore the destruction of its economic productivity, the Federal Reserve is already measurably lowering living standards of the American workforce, as noted in a Wall Street Journal article today.
In the allegedly “red-hot economy” created by $10 trillion in money printing in 18 months by the Fed-Treasury two-headed monster, the pace of inflation has reduced the real wages and salaries of American production and non-supervisory workers by 3.3% since April 2020. This drop, reported by the Bureau of Labor Statistics, is a very large decline in a single year, the largest since the combined inflation shock and recession in 1980. Meanwhile the Dow Jones Average rose 40% in that year, and just under 90% of all stocks are owned by the wealthiest 10% of households.
