Friday, November 04, 2011


When socialists point out that capitalism despite the promises of politicians isn't improving the conditions of the working class we are accused of distortion of the facts, but even the capitalist class agree with us. "Americans' incomes have dropped since 2000 and they aren't expected to make up the lost ground before 2021, according to economists in the latest Wall Street Journal forecasting survey. From 2000 to 2010, median income in the U.S. declined 7% after adjusting for inflation, according to Census data. That marks the worst 10-year performance in records going back to 1967. On average, the economists expect inflation-adjusted incomes to rise over the next decade, but the 5% projected gain isn't enough to reach prerecession levels." (Wall Street Journal, 14 October) The Wall Street Journal is the spokesman for capitalism but even it agrees with us. RD

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